[1]

Financial investment with restricted modality and linked to Bank Certificate of Deposit to secure a letter of guarantee from financial institutions.

[2]

Investments in National Treasury Bills (LFT) managed by its exclusive funds.

[3]

As of December 31, 2019, the investments in Time Deposit in custody to cover additional expenses of the sale of LLC was fully redeemed.

[4]

In December 2019, the Company opted to reclassify Usiminas' investment to current assets (see notes 8.f and 12.II), and part of the shares guarantees a portion of the Company's debt.

[5]

Bonds with Fibra Bank due in February 2028.