<SEC-DOCUMENT>0001292814-22-000752.txt : 20220302
<SEC-HEADER>0001292814-22-000752.hdr.sgml : 20220302
<ACCEPTANCE-DATETIME>20220302072122
ACCESSION NUMBER:		0001292814-22-000752
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20220331
FILED AS OF DATE:		20220302
DATE AS OF CHANGE:		20220302

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BRF S.A.
		CENTRAL INDEX KEY:			0001122491
		STANDARD INDUSTRIAL CLASSIFICATION:	MEAT PACKING PLANTS [2011]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15148
		FILM NUMBER:		22701353

	BUSINESS ADDRESS:	
		STREET 1:		1400 RUA HUNGRIA 5TH FLOOR
		STREET 2:		JARDIM EUROPA 01455 000
		CITY:			SAO PAULO SP BRAZIL
		STATE:			D5
		ZIP:			00000
		BUSINESS PHONE:		551123225061

	MAIL ADDRESS:	
		STREET 1:		8501 AV. DAS NACOES UNIDAS 1ST FLOOR
		STREET 2:		PINHEIROS 05425 070 SAO PAULO SP
		CITY:			BRAZIL
		STATE:			D5
		ZIP:			00000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BRF-BRASIL FOODS S.A.
		DATE OF NAME CHANGE:	20090708

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PERDIGAO SA
		DATE OF NAME CHANGE:	20000823
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<DESCRIPTION>BRF20220225_6K2
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; background-color: white"><FONT STYLE="font-size: 18pt"><B>FORM
6-K<BR>
U.S. SECURITIES AND EXCHANGE COMMISSION<BR>
</B></FONT><B><FONT STYLE="font-size: 10pt">Washington, D.C. 20549</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; background-color: white"><B>REPORT OF
FOREIGN PRIVATE ISSUER<BR>
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE<BR>
<FONT STYLE="text-transform: uppercase">SECURITIES EXCHANGE ACT OF 1934</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; background-color: white"><B>dated&nbsp;February
25, 2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; background-color: white"><B>Commission
File Number 1-15148</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; background-color: white"><FONT STYLE="font-size: 18pt"><B>BRF
S.A.<BR>
</B></FONT><FONT STYLE="font-size: 10pt">(Exact Name as Specified in its Charter)</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; background-color: white"><FONT STYLE="font-size: 10pt"><B>N/A</B><BR>
</FONT><FONT STYLE="font-size: 13.5pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">(Translation of Registrant&rsquo;s
Name)</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; background-color: white"><FONT STYLE="font-size: 10pt"><B>8501,
Av. das Na&ccedil;oes Unidas, 1st Floor</B><BR>
<B>Pinheiros - 05425-070-S&atilde;o Paulo &ndash; SP, Brazil</B><BR>
</FONT><FONT STYLE="font-size: 13.5pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">(Address of principal executive
offices) (Zip code)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">Indicate by
check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form
20-F&nbsp;</FONT><FONT STYLE="font-family: Wingdings">x</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
Form 40-F&nbsp;</FONT><FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">Indicate by
check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T<BR>
Rule&nbsp;101(b)(1):&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">Indicate by
check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T<BR>
Rule&nbsp;101(b)(7):&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">Indicate by
check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">Yes&nbsp;</FONT><FONT STYLE="font-family: Wingdings">o</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
No&nbsp;</FONT><FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">If &ldquo;Yes&rdquo;
is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):&nbsp;Not applicable.</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0 0 10pt; background-color: white">&nbsp;</P>



<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; background-color: white">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">This material
includes certain forward-looking statements that are based principally on current expectations and on projections of future events
and financial trends that currently affect or might affect the Company&rsquo;s business, and are not guarantees of future performance.&nbsp;
These forward-looking statements are based on management&rsquo;s expectations, which involve a number of known and unknown risks,
uncertainties, assumptions and other important factors, many of which are beyond the Company&rsquo;s control and any of which could
cause actual financial condition and results of operations to differ materially fom those set out in the Company&rsquo;s forward-looking
statements.&nbsp; You are cautioned not to put undue reliance on such forward-looking statements.&nbsp; The Company undertakes
no obligation, and expressly disclaims any obligation, to update or revise any forward-looking statements.&nbsp; The risks and
uncertainties relating to the forward-looking statements in this Report on Form 6-K, including Exhibit 1 hereto, include those
described under the captions &ldquo;Forward-Looking Statements&rdquo; and &ldquo;Item 3. Key Information &mdash; D. Risk Factors&rdquo;
in the Company&rsquo;s annual report on Form 20-F for the year ended December 31, 2012.</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0 0 10pt; background-color: white">&nbsp;</P>



<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; background-color: white">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in; background-color: white">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf
by the undersigned, thereunto duly authorized.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:&nbsp;February&nbsp;25, 2022</FONT></TD>
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BRF S.A.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 0.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Carlos Alberto Bezerra de Moura</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 42%; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="width: 7%; padding-right: 0.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="width: 48%; padding-right: 0.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Carlos Alberto Bezerra de Moura</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: -9.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="padding-right: 0.7pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Chief Financial and Investor Relations Officer</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0 0 10pt; background-color: white">&nbsp;</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0 0 10pt; background-color: white">&nbsp;</P>




<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 13.5pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; background-color: white"><B>EXHIBIT INDEX</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
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    <TD STYLE="width: 16%; border-bottom: Black 1pt solid; padding-right: 0.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit</B></FONT></TD>
    <TD STYLE="width: 84%; border-bottom: Black 1pt solid; padding-right: 0.7pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Description of Exhibit</B></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-bottom: 6pt"><A HREF="ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></A></TD>
    <TD STYLE="padding-right: 0.7pt; padding-bottom: 6pt"><A HREF="ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PROPOSAL OF THE BOARD OF DIRECTORS FOR THE ORDINARY AND EXTRAORDINARY GENERAL SHAREHOLDERS' MEETINGS TO BE HELD ON MARCH 28, 2022</FONT></A></TD></TR>
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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>


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<P STYLE="font: bold 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">BRF S.A.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Publicly-Held Company</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">CNPJ 01.838.723/0001-27</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">NIRE 42.300.034.240</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">PROPOSAL OF THE BOARD OF DIRECTORS FOR THE
ORDINARY AND EXTRAORDINARY GENERAL SHAREHOLDERS&rsquo; MEETINGS TO BE HELD ON MARCH 28, 2022</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Dear Shareholders,</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt; color: windowtext; line-height: 115%">In
accordance with the provisions of CVM Instruction No. 481/2009, we present below the management proposal (&ldquo;Proposal&rdquo;) of <B>BRF
SA</B> (&ldquo;Company&rdquo; or &ldquo;BRF&rdquo;), containing information and documents related to matters to be resolved at the Company's
Ordinary and Extraordinary General Shareholders&rsquo; Meetings, to be held on March 28, 2022, at</FONT> 11:00 <FONT STYLE="font-size: 11pt; color: windowtext; line-height: 115%">hours
(&ldquo;OEGM&rdquo;), exclusively digitally, through the digital platform Chorus Call (&ldquo;Digital Platform&rdquo;):</FONT></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">I. ORDINARY GENERAL SHAREHOLDERS&rsquo; MEETING</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>(i) </B></FONT><I>To
take the Management&rsquo;s accounts, examine, discuss and vote on the Management Report, the Financial Statements and other documents
related to the fiscal year ended on December 31, 2021, including the absorption of the profit of such year by the balance of accumulated
losses:</I></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B><U>Management
Proposal</U></B>: </FONT>To approve the management accounts and the financial statements of the Company for the fiscal year ended on December
31, 2021 (&ldquo;Fiscal Year 2021&rdquo;), accompanied by the management report, the explanatory notes, the report of the independent
auditors, the opinion of the Fiscal Council, the annual summary report of the Audit and Integrity Committee, the Management's comments
on the Company's financial situation, in accordance with Item 10 of the Company's Reference Form, pursuant to <B>Attachment I</B> to this
Proposal, as required by article 9 of CVM Instruction 481/2009.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext">We emphasize that
the profit calculated in the 2021 fiscal year, in the amount of R$</FONT> 419,454,967.88 (four hundred and nineteen million, four hundred
and fifty-four thousand, nine hundred and sixty-seven reais and eighty-eight cents) <FONT STYLE="color: windowtext">, was fully used to
offset the balance of accumulated losses, in accordance with the provisions of article 189 of Law No. 6,404/1976 (&ldquo;Brazilian Corporate
Law&rdquo;). In any event, the Company presents Exhibit 9-1-II of CVM Instruction No. 481/2009 as Exhibit II to this Proposal.</FONT></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>(ii)</B> <I>To
set at</I></FONT><I> 10 (ten) <FONT STYLE="color: windowtext">the number of members to compose the Board of Directors.</FONT></I></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>Management
Proposal:</B> Considering that the term of office of the members of the Board of Directors ends on the date of the OEGM, pursuant to article
20, <I>caput</I> and paragraph 7, of the Company's Bylaws and as resolved at the Board of Directors' Meeting held in February</FONT>,
22, 2022<FONT STYLE="color: windowtext">, it is proposed to set the number of members of the Board of Directors at 10 (ten).</FONT></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>(iii)</B></FONT>
<I>To elect the members of the Board of Directors, being necessary, pursuant to CVM Instruction No. 165/1991, the request of shareholders
representing, at least, 5% (five percent) of the voting capital in order to adopt the multiple voting process.</I></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Management Proposal:</B> Considering that the
term of office of the members of the Board of Directors ends on the date of the OEGM, it is proposed to elect the slate formed by the
names indicated below to compose the Board of Directors for a term of office of 2 (two) years, the be closed at the Annual Shareholders'
Meeting that resolves on the Company's management accounts for the year that will end on December 31, 2023:</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(i) Marcos Antonio Molina dos Santos</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(ii) Sergio Agapito Rial</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(iii) Marcia Aparecida Pascoal Mar&ccedil;al dos
Santos</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(iv) Augusto Marques da Cruz Filho</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(v) Deborah Stern Vieitas</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(vi) Fl&aacute;via Maria Bittencourt</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(vii) Oscar de Paula Bernardes Neto</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(viii) Pedro de Camargo Neto</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(ix) Altamir Batista Mateus da Silva</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(x) Eduardo Augusto Rocha Pocetti.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The slate was propposed by the shareholders Marfrig
Global Foods S.A. and Fundo de Investimento em A&ccedil;&otilde;es Colorado &ndash; Investimento no Exterior, and was approved by the
Company&rsquo;s Board of Directors at the meeting held on February 22, 2022, in accordance with article 20 caput and paragraph 7, of the
Company&rsquo;s Bylaws.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Consist of <B>Attachment <FONT STYLE="color: windowtext">III</FONT></B>
to this Proposal the information related to the candidates for members of the Company's Board of Directors, pursuant to Items 12.5 to
12.10 of the Company's Reference Form, as required by article 10 of CVM Instruction No. 481/2009.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>(iv)</B></FONT>
<I>To approve, pursuant to paragraphs 6 and 7 of article 20 of the Bylaws, the appointment of the Chairman and Vice-Chairman of the Board
of Directors.</I></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext"><B>Management
Proposal:</B> Considering that the term of office of the members of the Board of Directors ends on the date of the OEGM, pursuant to article
20, <I>caput</I> and paragraph 7, of the Company's Bylaws, it is proposed the appointment of Messrs. <FONT STYLE="line-height: 115%">Marcos
Antonio Molina dos Santos</FONT></FONT> <FONT STYLE="line-height: 115%">and <FONT STYLE="color: windowtext">Sergio Agapito Rial</FONT></FONT>
<FONT STYLE="color: windowtext">as, respectively, Chairman and Vice-Chairman of the Board of Directors.</FONT></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The nomination of the names of Messrs. Marco Antonio
Molina dos Santos and Sergio Agapito Rial for the positions respectively, of Chairmain and Vice-Charmain of the Board of Directors was
included in the slate proposal by the Marfrig Global Foods S.A. and <FONT STYLE="line-height: 115%">Fundo de Investimento em A&ccedil;&otilde;es
Colorado &ndash; Investimento no Exterior and have been approved by the Company&rsquo;s Board of Directors at the meeting held on February
22, 2022, in accordance with article 20, caput and paragraph 7, of the Company&rsquo;s Bylaws.</FONT></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>(v)</B> <I>To set the annual global compensation
of the Company's management for the fiscal year 2022.</I></P>


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<P STYLE="font: 12pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B><U>Management Proposal</U></B> : Pursuant to
article 17 of the Bylaws, to approve the annual global compensation for the year 2022 for the members of the Company's Board of Directors
and Statutory Executive Board in the amount of up to R$<FONT STYLE="line-height: 115%">109,898,000.00 (one hundred nine million and eight
hundred ninety eight thousand Brazilian Reais)</FONT>. This amount refers to the proposed limit for fixed compensation (salary or retainer,
direct and indirect benefits, and social charges) and benefits resulting from termination of employment, as well as variable compensation
(profit sharing) and amounts related to the Company's Stock Option Plan and Restricted Stock Grant Plan, as summarized below:</P>


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<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 12pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 53%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; background-color: #002060; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; line-height: 107%; color: white; font-weight: bold">Approved 2021</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 2%; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 14%; background-color: #002060; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; line-height: 107%; color: white; font-weight: bold">Accomplished 2021</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 2%; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 13%; background-color: #002060; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; line-height: 107%; color: white; font-weight: bold">Proposal 2022 </TD></TR>
  <TR>
    <TD STYLE="border-top: #002060 1pt solid; border-bottom: #002060 1pt solid; background-color: #1F4E78; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%; color: white"><B>Administrative Council</B> <FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt; line-height: 107%">(in thousands of reais)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: #002060 1pt solid; border-bottom: #002060 1pt solid; background-color: #1F4E78; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; line-height: 107%; color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%; color: white">&nbsp;</TD>
    <TD STYLE="border-top: #002060 1pt solid; border-bottom: #002060 1pt solid; background-color: #1F4E78; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; line-height: 107%; color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%; color: white">&nbsp;</TD>
    <TD STYLE="border-top: #002060 1pt solid; border-bottom: #002060 1pt solid; background-color: #1F4E78; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; line-height: 107%; color: white; font-weight: bold">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%; font-weight: bold; font-style: italic">Fees + Benefits</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">15,456</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">13,292</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">16,983</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%; font-weight: bold; font-style: italic">Share-based compensation</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">5,997</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">1,837</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">5,519</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: #002060 2.25pt double; border-bottom: #002060 2.25pt double; background-color: #EDEDED; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%; font-weight: bold; font-style: italic">Total Board of Directors</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #002060 2.25pt double; border-bottom: #002060 2.25pt double; background-color: #EDEDED; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%; font-weight: bold">21,453</TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%; font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #002060 2.25pt double; border-bottom: #002060 2.25pt double; background-color: #EDEDED; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%; font-weight: bold">15,129</TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%; font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #002060 2.25pt double; border-bottom: #002060 2.25pt double; background-color: #EDEDED; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%; font-weight: bold">22,503</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #002060 1pt solid; background-color: #1F4E78; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%; color: white"><B>Statutory Board</B> <FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt; line-height: 107%">(in thousands of reais)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: #002060 1pt solid; background-color: #1F4E78; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; line-height: 107%; color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%; color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #002060 1pt solid; background-color: #1F4E78; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; line-height: 107%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%; color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: #002060 1pt solid; background-color: #1F4E78; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; line-height: 107%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%; font-weight: bold; font-style: italic">Fees + Benefits</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">-38,751</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">23,387</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">42,579</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%; font-weight: bold; font-style: italic">Share-based compensation</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">20,167</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">(20,170)</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">23,229</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%; font-weight: bold; font-style: italic">Profit Sharing</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">22,997</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">16,351</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%">25,269</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: #002060 2.25pt double; border-bottom: #002060 2.25pt double; background-color: #EDEDED; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%; font-weight: bold; font-style: italic">Total Statutory Board</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #002060 2.25pt double; border-bottom: #002060 2.25pt double; background-color: #EDEDED; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%; font-weight: bold">81,915</TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%; font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #002060 2.25pt double; border-bottom: #002060 2.25pt double; background-color: #EDEDED; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%; font-weight: bold">59,908</TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%; font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #002060 2.25pt double; border-bottom: #002060 2.25pt double; background-color: #EDEDED; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%; font-weight: bold">91,078</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%; font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: #002060 2.25pt double; border-bottom: #002060 2.25pt double; background-color: #EDEDED; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%; font-weight: bold; font-style: italic">TOTAL Board of Directors and Statutory Board</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #002060 2.25pt double; border-bottom: #002060 2.25pt double; background-color: #EDEDED; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%; font-weight: bold">103,368</TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; line-height: 107%; font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #002060 2.25pt double; border-bottom: #002060 2.25pt double; background-color: #EDEDED; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%; font-weight: bold">72,445</TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%; font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #002060 2.25pt double; border-bottom: #002060 2.25pt double; background-color: #EDEDED; padding-right: 3.5pt; padding-bottom: 8pt; padding-left: 3.5pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%; font-weight: bold">109,898</TD></TR>
  </TABLE>
<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The proposed value for the 2022 fiscal year is
6.35% higher when compared to the amount approved for the 2021 fiscal year. Such variation results from the application of the real IPCA
projected.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The management compensation proposal for 2022
does not take into account social charges, according to <I>Comiss&atilde;o de Valores Mobili&aacute;rios &ndash; CVM</I> in the proceeding
No. <FONT STYLE="line-height: 115%">19957.007457/2018-10</FONT>.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Consist of <B>Attachment IV</B> to this Proposal
the information related to Item 13 of the Company's Reference Form, as required by article 12 of CVM Instruction No. 481/2009.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>(vi)</B> <I>To elect the members of the Fiscal
Council</I><FONT STYLE="color: windowtext">.</FONT></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B><U>Management Proposal</U></B>: Considering
that the operation of the Company's Fiscal Council ends at the first AGO after its election, as provided for in article 161, &sect; 5
of the Brazilian Corporate Law, and that article 30 of the Bylaws establishes that the Company will have a permanent Fiscal Council, Management
proposes, for a term until the Annual Shareholders' Meeting to be held in the fiscal year of 2023, the election of the following permanent
and alternate members of the Fiscal Council, namely:</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center; line-height: 115%">Effective Members</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center; line-height: 115%">Alternate Members</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="line-height: 115%">Bernardo Szpigel</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="line-height: 115%">Valdecyr Maciel Gomes</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="line-height: 115%">Ana Paula Teixeira de Sousa</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="line-height: 115%">Cristina Ferreira de Brito</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="line-height: 115%">At&iacute;lio Guaspari</FONT></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="line-height: 115%">Marcus Vin&iacute;cius Dias Severini</FONT></TD></TR>
  </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">It should be noted that (i) the candidate Bernardo
Szpigel (Effective) was nominated by the shareholders Marfrig Global Foods S.A. and Fundo de Investimento em A&ccedil;&otilde;es Colorado
&ndash; Investimento no Exterior; and (ii) the candidates Ana Paula Teixeira de Sousa (Effective) and Cristina Ferreira de Brito (Alternate)
were nominated by the shareholder Previ &ndash; Caixa de Previd&ecirc;ncia dos Empregos do Banco do Brasil<FONT STYLE="color: windowtext">.</FONT></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Consist of <B>Attachment <FONT STYLE="color: windowtext">V</FONT></B>
to this Proposal the information related to the candidates for members of the Company's Fiscal Council, pursuant to Items 12.5 to 12.10
of the Company's Reference Form, as required by article 10 of CVM Instruction No. 481/2009.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>(vii)</B> <I>To set the compensation of the
members of the Fiscal Council for the fiscal year 2022</I>.</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B><U>Management Proposal</U></B> : Pursuant to
article 16, item V, of the Bylaws, to approve the compensation for the year 2022 for the effective members of the Company's Fiscal Council
in an amount corresponding to 10% (ten percent) of the average value of the compensation attributed to the Company Directors (benefits,
representation allowances and profit sharing not included), pursuant to article 162, &sect; 3, of the Brazilian Corporate Law, considering
the maximum amount as summarized below:</P>

<P STYLE="font: 12pt -webkit-standard,serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 52%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 14%; background-color: #002060; padding-right: 3.5pt; padding-left: 3.5pt; font: bold 10.5pt Tahoma, Helvetica, Sans-Serif; text-align: center; color: white">Approved 2021</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 2%; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; font: 10.5pt Tahoma, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 14%; background-color: #002060; padding-right: 3.5pt; padding-left: 3.5pt; font: bold 10.5pt Tahoma, Helvetica, Sans-Serif; text-align: center; color: white">Accomplished 2021</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 2%; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; font: 10.5pt Tahoma, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 15%; background-color: #002060; padding-right: 3.5pt; padding-left: 3.5pt; font: bold 10.5pt Tahoma, Helvetica, Sans-Serif; text-align: center; color: white">Proposal 2022</TD></TR>
  <TR>
    <TD STYLE="border-top: #002060 2.25pt double; border-bottom: #002060 1pt solid; background-color: #1F4E78; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Tahoma, Helvetica, Sans-Serif; color: white"><FONT STYLE="font-size: 10.5pt"><B>Fiscal Council</B></FONT> <FONT STYLE="font-size: 8pt">(in thousands of reais)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: #002060 2.25pt double; border-bottom: #002060 1pt solid; font: bold 10.5pt Tahoma, Helvetica, Sans-Serif; background-color: #1F4E78; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; color: white">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 10.5pt Tahoma, Helvetica, Sans-Serif; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; color: white">&nbsp;</TD>
    <TD STYLE="border-top: #002060 2.25pt double; border-bottom: #002060 1pt solid; font: bold 10.5pt Tahoma, Helvetica, Sans-Serif; background-color: #1F4E78; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; color: white">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 10.5pt Tahoma, Helvetica, Sans-Serif; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; color: white">&nbsp;</TD>
    <TD STYLE="border-top: #002060 2.25pt double; border-bottom: #002060 1pt solid; font: bold 10.5pt Tahoma, Helvetica, Sans-Serif; background-color: #1F4E78; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: italic bold 10.5pt Tahoma, Helvetica, Sans-Serif; padding-right: 3.5pt; padding-left: 3.5pt">Fees</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Calibri, Helvetica, Sans-Serif">798</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 10.5pt Tahoma, Helvetica, Sans-Serif; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Calibri, Helvetica, Sans-Serif">540</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 10.5pt Tahoma, Helvetica, Sans-Serif; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Calibri, Helvetica, Sans-Serif">877</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: #002060 2.25pt double; border-bottom: #002060 2.25pt double; font: italic bold 10.5pt Tahoma, Helvetica, Sans-Serif; background-color: #EDEDED; padding-right: 3.5pt; padding-left: 3.5pt">Total Cons. Fiscal</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #002060 2.25pt double; border-bottom: #002060 2.25pt double; background-color: #EDEDED; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Calibri, Helvetica, Sans-Serif; font-weight: bold">798</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: bold 10.5pt Tahoma, Helvetica, Sans-Serif; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #002060 2.25pt double; border-bottom: #002060 2.25pt double; background-color: #EDEDED; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Calibri, Helvetica, Sans-Serif; font-weight: bold">540</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: bold 10.5pt Tahoma, Helvetica, Sans-Serif; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: #002060 2.25pt double; border-bottom: #002060 2.25pt double; background-color: #EDEDED; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Calibri, Helvetica, Sans-Serif; font-weight: bold">877</TD></TR>
  </TABLE>
<P STYLE="font: 10.5pt/16pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Consist of <B>Attachment IV</B> to this Proposal
the information related to Item 13 of the Company's Reference Form, as required by article 12 of CVM Instruction No. 481/09.</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">II. EXTRAORDINARY GENERAL SHAREHOLDERS&rsquo;
MEETING</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>(i)</B> <I>To resolve on the following amendments
to the Company's Bylaws, as detailed in a draft with revision marks contained in the Management Proposal disclosed to the market:</I></P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>(a) Amend article 5, caput, of the Company's
Bylaws, in order to reflect the change in the capital stock of R$12.553.417.953,36 (twelve billion, five hundred and fifty-three million,
four hundred and seventeen thousand, nine hundred and fifty-three reais and thirty-six centavos), divided into 812,473,246 (eight hundred
and twelve million, four hundred and seventy-three thousand, two hundred and forty-six) common shares, all registered, book-entry and
without par value, to R$13.053.417.953,36 (thirteen billion, fifty-three million, four hundred and seventeen thousand, nine hundred and
fifty-three reais and thirty-six centavos), divided into 1,082,473,246 (one billion, eighty-two million, four hundred and seventy-three
thousand, two hundred and forty-six) common shares, all registered, book-entry and without par value, as a result of the public offering, with restricted
placement efforts, carried out by the Company as approved at the Extraordinary Shareholders' Meeting held on 01.17.2022 and at the Board
of Directors' meetings held on 01.17.2022 and 02.01.2022;</I></P>


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<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: italic 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(b) Add item (vii) to article 16 of the
Company's Bylaws, to provide for the competence of the General Meeting to approve the execution of transactions and business with related
parties or the sale or contribution of assets, whenever, in any of these cases, the value of the transaction or business corresponds to
more than 50% (fifty percent) of the value of the Company's total assets included in its latest balance sheet approved at the General
Meeting, in accordance with the provisions of article 122, item X, of Law No. 6,404/1976, as amended by Law No. 14,195/2021;</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: italic 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(c) Amend article 23, item (xxxvii), and
article 25, item (vi), of the Company's Bylaws, to adjust them to the proposed wording for article 16, item (vii), of the Bylaws, in accordance
with the new wording of article 122, item X, of Law No. 6,404/1976, provide by Law No. 14,195/2021; and</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: italic 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(d) Amend paragraph 1 of article 24 of
the Company's Bylaws, to provide that the positions of Chairman of the Board of Directors and Global Chief Executive Officer cannot be
cumulated by the same person, under any circumstances, as provided for in article 138, paragraph 3, of Law No. 6,404/1976, included by
Law No. 14,195/2021, with the consequent exclusion of paragraph 2 of Article 24 of the Bylaws and renumbering of the following paragraphs,
as well as cross-reference adjustments.</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B><U>Management Proposal</U>:</B> Approve all
the proposed amendments to the Bylaws listed above, since in the case of item (a) above, the amendment arises from resolutions already
approved at the Extraordinary General Meeting and meetings of the Company's Board of Directors, with the only objective of formalizing
the adequacy of the statutory provision to the current value of the capital stock and the number of shares into which it is divided, and
in the case of items (b) to (d) above, the amendments aim only at adapting the Bylaws to recent changes promoted in Law no. 6,404/1976.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">It consists of <B>Attachment VI</B> to this Proposal
the version of the Company's Bylaws with the incorporated and highlighted amendment proposals and the <B>Attachment VII</B> the statutory
amendments proposed in the form of a comparative table, indicating the justification for the amendment and the analysis of the legal and
economic effects, as required by article 11 of CVM Instruction No. 481/2009.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>(ii)</B> <I>Consolidate the Company's Bylaws
with the approved changes.</I></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B><U>Management Proposal</U></B>: If the proposals
object of item II (i) above are approved, the Company's Management proposes the approval of the consolidation of the Bylaws, in order
to reflect, in a single document, the wording in force, pursuant to the document contained in the <B>Attachment VI</B> to this Proposal.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">This is what the Board of Directors had to propose
and expects to be evaluated and approved by the shareholders.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">* * *</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company's shareholders interested in accessing
the information or answering questions related to the above proposals should contact the Investor Relations area, by telephone +55 (11)
2322-5377 or via e-mail: acoes@brf.com. All documents relevant to this OEGM are available to shareholders on the websites www.brfglobal.com/ri,
www.b3.com.br and www.cvm.gov.br .</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Itaja&iacute; (SC), February 25, 2022.</P>


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<P STYLE="font: bold 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: bold 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: center">INDEX</P>

<P STYLE="font: bold 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: center">Attachments to the Management Proposal
for the Ordinary and Extraordinary General Meeting of BRF SA, to be held on March 28, 2022.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Attachment I</B> &ndash; Management's comments
on the Company's financial situation (Item 10 of the Company's Reference Form, pursuant to CVM Instruction No. 480, of December 7, 2009).
&#9;p. 9</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Attachment II</B> &ndash; Information on the
allocation of net income (Annex 9-1-II of CVM Instruction No. 481, of December 17, 2009) &#9;p.81</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Attachment III</B> &ndash; Information on candidates
for the positions of members of the Board of Directors (Items 12.5 to 12.10 of the Reference Form, according to CVM Instruction No. 480,
of December 7, 2009). &#9;p. 86</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Attachment IV</B> &ndash; Information on the
compensation of the Managers and the Fiscal Council (Item 13 of the Reference Form, pursuant to CVM Instruction No. 480, of December 7,
2009). p.95</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Attachment V</B> &ndash; Information on candidates
for the positions of members of the Fiscal Council (Items 12.5 to 12.10 of the Reference Form, according to CVM Instruction No. 480, of
December 7, 2009). &#9;p. 136</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Attachment VI</B> &ndash; Copy of the Company's
Bylaws highlighting the proposed changes (Article 11, item I, of CVM Instruction No. 481, of December 17, 2009). &#9;p. 141</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Attachment VII</B> - Comparative table of the
proposed amendment to the Company's Bylaws with the indication of the justification (Article 11, item II, of CVM Instruction No. 481,
of December 17, 2009). &#9;p.176</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">*&#9;*&#9;*<BR STYLE="clear: both">
</P>


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<P STYLE="font: bold 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">BRF S.A.</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Attachment I &ndash; Management's comments
on the Company's financial situation (Item 10 of the Company's Reference Form, according to CVM Instruction No. 480, of December 7, 2009)</P>

<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>10. Management analysis</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The information presented below was evaluated
and commented on by the Company's Officers.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>10.1 - General financial and equity conditions</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;general
financial and equity conditions</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company has sufficient financial and equity
conditions to continue its business plan and meet its short and long-term obligations, including third-party loans, as well as to finance
its activities and cover its need for funds.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Fiscal year ending December 31, 2021 </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">In the exercise social closed in December 31, 2021
, the Company advanced in the segment <I>pet food</I> in Brazil, with the acquisition of Grupo Hercosul and Mogiana Alimentos. At the
same time, it faced the intensification of the COVID-19 pandemic in the regions where it operated, a fact that caused a change in the
behavior of demand, volatility in macroeconomic conditions and - associated with other market factors - an increase in the cost of productive
inputs, notably the cost of grains.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company highlights among the material facts
of 2021 the closing of the investigations of <I>US Securities and Exchange Commission</I> (SEC) and the <I>US Department of Justice</I>
(DoJ) against BRF within the scope of Trapa&ccedil;a and Carne Fraca Operations.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company has partnered with AES Brasil Energia
to build a wind farm for self-generation of energy in Rio Grande do Norte. Additionally, in a joint initiative with Intrepid Participa&ccedil;&otilde;es
SA, the Company will seek to implement a park for self-generation of solar energy in Cear&aacute;. The partnerships aim to ensure clean
energy at very competitive costs and which, added to BRF's current clean energy portfolio, seek to ensure that 88% of the electricity
used by the Company comes from clean and renewable sources in Brazil. With this, the Company reinforces its commitment to become <I>Net
Zero</I> in greenhouse gas (GHG) emissions by 2040, both in operations and in the production chain. Furthermore, it was elected by the
Global Reporting Initiative (GRI) as one of the most transparent companies in sustainability, as published on October 15, 2021.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">With investments of approximately R$300 million, the
Company expanded its production capacity with the new plant in Serop&eacute;dica, in Rio de Janeiro. This is the Company's 40th production
unit, being the first dedicated exclusively to the production of sausages and one of the most advanced in the Industry 4.0 concept, using
clean energy, minimal generation of solid waste and the reuse of water and waste in various processes. .</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In the fiscal year ended December 31, 2021,
the Company reported net revenue from continuing operations of R$ 48,343,305 thousand (22.5% above the fiscal year ended on 12.31.20).
The profit before the financial result was R$ 3,009,787 thousand in the fiscal year ended on 12.31.21 and the net income for the year
was R$437,384 thousand.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's Net Debt totaled R$17,331,927
thousand, 22.5% higher than that recorded on 12.31.20, mainly due to investments made in fixed and intangible assets and acquisitions
of Mogiana and Hercosul, as well as the effects of the settlement of derivatives to protect the Company's gross margin.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's Leverage (measured as described
in item 3.2 of this Reference Form) reached 3.12 on 12/31/2021, compared to 2.73 on 12/31/2020.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Net financial expenses totaled R$3,044,575
thousand in the exercise social closed on 12.31.21, 79.2% higher compared to the same period of the previous year, notably due to the
effects of the option launched in a business combination (see explanatory note 24.8.1 to the financial statements for the year ended 12.31.21),
as well as the effect of the increase in interest rates and inflation. In 12.31.21, the Company's consolidated shareholders' equity totaled
R$8,825,623 thousand, above the R$8,813,5314 thousand recorded on 12.31.20.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Fiscal year ended on December 31, 2020</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">BRF concluded the year 2020 with a consistent
generation of value, taking care of its people, strengthening its culture, evolving in the recognition of its brands, while successfully
completing the Operational and Financial Restructuring Plan announced in June, 2018.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company worked intensively on the implementation
of a high performance culture, internally called &quot;BRF Essence&quot; - a set of concepts that guide all its decisions and actions,
based on its history, legacy, values and vision of the future. Ess&ecirc;ncia BRF has also guided the Company throughout the pandemic.
During the pandemic, the Company, with agility and sensitivity, took care of its people and the communities in which it operates, through
various actions that the Company has reported over the last few quarters. The implementation of Ess&ecirc;ncia BRF was reflected in the
increase in the Company's engagement, the result of a recent survey involving more than 44 thousand respondents who answered 43 questions
covering subjects such as leadership, well-being, career, diversity, safety, quality, integrity, among others. . Of the total number of
respondents, 86% of employees responded favorably to the questions. There was an evolution in all categories, with emphasis on &ldquo;trust
in decisions taken by senior management&rdquo;, which reached 95% of satisfaction in the survey carried out. These engagement levels are
comparable to the levels of the best companies in the Global High Performance Market.<FONT STYLE="line-height: 107%">[1]</FONT> and, in
general, above the levels of companies in the Global Consumer Non-Durable Goods Market. The Company is also a reference (benchmark) in
terms of quality, clarity, diversity, leadership, career and development, compared to companies in the High Performance Global Market&sup1;.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company, in his view, was able to reconcile
growth and profitability, optimizing its channels, expanding the product mix, exercising intellectual leadership &ndash; supported by
its iconic brands &ndash; in addition to promoting excellence in commercial execution. It also strengthened one of its biggest competitive
advantages: its brands. Sadia is the most valuable brand in the food segment in Brazil, valued at US$1.8 billion, according to Exame/Brand
Finance. It is also the most remembered brand in 2020 and the favorite of consumers in the protein segment. Also according to the aforementioned
survey, Perdig&atilde;o is the food brand that has grown the most in terms of preference in recent years and that has conquered the most
new homes in 2020 and Qualy is the preferred brand in margarine and the most remembered by more than half of Brazilians, which naturally
makes it the absolute leader of the category. Finally, Banvit became the preferred brand among Turkish consumers, with a 54% preference,
as is Sadia in the Halal market, with a 38% preference, according to the Ipsos Institute.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company presented net revenue from continuing
operations of R$39,469,700 thousand in the fiscal year ended December 31, 2020 (18.0% above the year ended December 31, 2019). Income
before financial result for the fiscal year ended December 31, 2020 was R$2,846,793 thousand, and net income was R$1,390,069 thousand.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's Net Debt totaled R$14,152,414
thousand on 12.31.2020, 6.7% above that recorded on 12.31.2019, due to the (i) non-cash effects on loans and financing, such as exchange
rate variation and derivative liabilities<FONT STYLE="line-height: 107%">[2]</FONT>, (ii) the appropriation of interest, net of payment,
(iii) the share buyback carried out in the year, and (iv) the free cash flow between the periods.</P>




<HR ALIGN="LEFT" SIZE="1" STYLE="width: 33%">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; line-height: 107%"><SUP>[1]</SUP></FONT>According
to Willis Towers Watson methodology</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; line-height: 107%"><SUP>[2]</SUP></FONT>Derivatives
related to the exposure of operating income for the next 12 months (hedge accounting), which impact the item Other Comprehensive Income
in shareholders' equity.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's leverage reached 2.73x on 12.31.20.
At the beginning of the year, the Company revised the goals (<I>guidance</I>) from leverage to a range between 2.35 &ndash; 2.75x for
2020, with a robust lengthening of the average debt term.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Net financial expenses totaled R$ 1,698,996
thousand in the fiscal year ended on December 31, 2020, 8.9% lower compared to the previous year.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">On December 31, 2020, the Company's shareholders'
equity totaled R$8,813,534 thousand, above the R$8,148,349 thousand recorded on December 31, 2019.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Fiscal year ended on December 31, 2019 </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company ended 2019 with solid financial
results, returning to profit. Management stability and excellence in execution were fundamental for the Company to achieve these results.
During 2019, the Company reviewed its fundamentals, perfected its strategy, reinforced the value of its brands, strengthened its operational
capacity, invested in the launch of new products and disciplinedly executed the divestment plan and strategic plan conceived in 2018.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Its long-term strategy contemplated, for the
year 2019, the reversal of the declining trend of its profitability. The Company exceeded this objective through an increase in its gross
profit, from 16.1% on 12.31.2018 to 24.1% on 12.31.2019, as a result of the growth in its net revenue of more than R$3,258,559 thousand
or 10, 8% in the period.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's financial performance in 2019
consolidated the leverage reduction. The free cash flow generated in 2019, associated with the proceeds from the sale of assets in Argentina,
Europe and Thailand, led to a reduction in Net Debt from R$15,689,297 thousand in 2018 to R$ 13,268,966 thousand in 2019, with an extension
of the average term to 4.6 years. Adjusted EBITDA, in turn, expanded from R$2,462,258 thousand to R$5,317,221 thousand in the period,
an increase of 116.0%. Consequently, the leverage ratio dropped to 2.50x, down from the 5.12x reported at the end of 2018 and approaching
the long-term target of 1.5x to 2.0x. This performance allowed for an increase in the outlook for the Company's credit ratings by the
S&amp;P and Moody's rating agencies in 2021.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In Brazil, the Company presented an evolution
in performance, as a result of better commercial execution, less disruption due to improved logistics efficiency, strict control of inventory
levels, optimization of the product mix and profitability of sales channels. The commemorative campaign had its best performance since
2015.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In the Halal market, the Company continued
to face some obstacles, either due to restrictions on shipments to the Iraqi market from Turkey, which impacted its subsidiary Banvit,
or due to the suspension of the Abu Dhabi processed plant for the market. saudi In view of these measures, the Company redirected volumes
to adjacent markets, maintaining the aggregate volume sold in the Halal market. On February 16, 2020, the Company received the news about
the temporary suspension, by the Saudi health authority, of its plants located in the State of Paran&aacute;, Dois Vizinhos and Francisco
Beltr&atilde;o. Immediately, a production redirection protocol was initiated for the other five plants authorized for Saudi Arabia, at
the same time that negotiations were carried out with representatives to clarify any issue for reversing this decision. In addition, the
Company announced, in October 2019, a new processed plant, which will receive an investment of approximately US$120,000 thousand and will
consolidate the Company's presence in the region.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In the other international markets, the Company
continued with a favorable dynamic, benefited mainly by the Asian demand, due to the spread of African swine fever. In 2019, the Company
advanced with its market expansion initiatives, having. won 25 new licenses, among which the units approved for China stand out &ndash;
Lucas do Rio Verde/MT (poultry and pork), Lajeado/RS (pork) and Campos Novos/SC (offal pork).</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company presented net revenue from continuing
operations of R$33,446,980 thousand in the fiscal year ended December 31, 2019 (10.8% above the previous year). The growth was marked
by better commercial performance in all regions. Income before financial result was R$2,952,773 thousand, and net income from continuing
operations was R$1,213,261 thousand. Including the result of discontinued operations, the consolidated net income for the year 2019 was
R$297,452 thousand.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's Net Debt totaled R$13,268,963
thousand on 12/31/2019, 15.4% lower than on 12/31/2018, impacted by free cash generation, partially offset by non-cash effects (exchange
variation) and by the effects of discontinuation of divested companies in 2019.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Net financial expenses totaled R$1,865,399
thousand in the fiscal year ended December 31, 2019, 16.8% lower than in the previous year.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">On December 31, 2019, the Company's shareholders'
equity totaled R$8,148,349 thousand, above the R$7,531,777 thousand recorded on December 31, 2018, due to retained earnings and other
comprehensive income earned in the period .</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify; background-color: white"><B><U>Analysis of
the impacts of COVID-19 </U></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify; background-color: white">As described in the
risk factor contained in item 4.1 of this Reference Form, entitled &quot; <I>Pandemics or outbreaks of human diseases, such as the novel
coronavirus (COVID-19), can cause changes in consumption and trade patterns, supply chains and production processes, as well as disruptions
in production and product shipments, which could significantly harm the Company's operations and results of operations</I> &quot;, as
described in detail in item 10.9, the Company's business, operations and financial condition could be materially and adversely affected
by the spread of epidemics, pandemics or other public health crises, including the novel coronavirus (COVID-19).</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>b. Capital structure</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's Capital Structure considers Shareholders'
Equity as equity and Gross Debt, comprising current and non-current Loans and Financing, plus Derivative Financial Instruments, current
and non-current net, as third-party capital.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">As of December 31, 2021, the Company's capital
structure was composed of 25.6% of equity capital and 74.4% of third-party capital.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">As of December 31, 2020, the Company's capital
structure was composed of 28.2% of equity capital and 71.8% of third-party capital.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">As of December 31, 2019, the Company's capital
structure was composed of 30.5% of equity capital and 69.5% of third-party capital.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's financing standard is based on
the use of its own resources and those of third parties, the latter being related to raising funds from financial institutions and/or
issuing debt in the national and international capital markets. More details on the use of third-party capital by the Company can be found
in item 10.1.f. below.</P>

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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;payment
capacity compared to financial commitments</B></P>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company assesses that it has the ability
to pay in relation to the financial commitments assumed, mainly considering that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.25pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">On 12.31.21, the current Gross
Debt is R$3,395,960 thousand, which represents 13.2% of the total Gross Debt;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 39.25pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.25pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">the average term period of settlement
of the Company's Loans and financing is close to nine years; the Company maintains a balance of Cash and Cash Equivalents, Securities
and Restricted Cash, which together reach the amount of R$8,348,052 thousand; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 39.25pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.25pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">the maturity schedule of the
Company's Loans and Financing on 12.31.21 is set out as follows:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Consolidated</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>(R$ thousands)</I></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 65%; padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 15%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Main</B></FONT></TD>
    <TD STYLE="width: 18%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Interest</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Current (01.01.22 to 12.31.23)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">2,434,990</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">1,375,349</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B><U>Non-current</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>2023 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">2,907,304</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">1,246,794</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">2,114,428</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">1,085,126</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>2025</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">1,396,164 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">1,012,773 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>2026</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">3,772,786 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">947,903 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>2027 onwards</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">15,622,919 </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">7,747,875 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 3.5pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>28,248,591</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>&nbsp;</B></P></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>13,415,820</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>&nbsp;</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sources
of financing for working capital and investments in non-current assets used</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's main sources of liquidity have
been cash generation from its operating activities, loans and other financing. In the last three fiscal years, the Company raised funds
through loan and financing operations with the financial and capital markets, which were used to finance its working capital needs and
short and long-term investments (see item 10.1 .f for details on relevant loan and financing agreements).</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>e.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financing
sources for working capital and investments in noncurrent assets that intends to use for coverage of liquidity deficiencies</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company will contract new loan and financing
operations with the financial and capital markets when it identifies the need for additional resources to finance the long-term investment
plan or with the objective of continuing to improve its indebtedness profile. Whenever possible, the Company will prioritize long-term
funding and attractive costs for specific purposes.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company believes that these funding sources
will be sufficient to cover its working capital and investment needs in the normal course of its business.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>f.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debt
levels and characteristics of such debts</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's main source of indebtedness is
the raising of funds to finance its investments in fixed assets and working capital. On 12.31.21, the Company's loans and financing totaled
R$25,456,030 thousand, of which R$9,112,478 thousand were denominated in local currency and R$16,343,552 thousand in foreign currency, primarily in
US dollars. On 12.31.2020, the Company's loans and financing totaled R$22,404,426
thousand, of which R$6,665,292 thousand were denominated in local currency and R $15,739,134 thousand in foreign currency, primarily in
US dollars. On 12.31.2019, the Company's loans and financing totaled R$18,620,279 thousand, of which R$7,613,755 thousand were denominated
in local currency and R$11,006,524 thousand in foreign currency, primarily in US dollars. </P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company uses the net funds obtained through
financing for capital expenditures, expenses associated with the production process and to maintain liquidity.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The main information used to assess the Company's
financial situation is presented in the financial statements for the fiscal years ended December 31, 2021 and 2020. Additionally, in section
3.2 of this form, the Gross Debt and Net Debt, complementary non-accounting metrics, are presented, and in section 3.7 there is the level
of indebtedness.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The table below presents an additional breakdown
of the Company's indebtedness by type of debt:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 32%; padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 16%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Loans and financing Current on 12.31.21</B></FONT></TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Loans and financing Non-current at 12.31.21</B></FONT></TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total loans and financing on 12.31.21</B></FONT></TD>
    <TD STYLE="width: 17%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total loans and financing on 12.31.20</B></FONT></TD>
    <TD STYLE="width: 13%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total loans and financing on 12.31.19</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(In thousands of BRL)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Development Bank Credit Lines</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,865 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,814 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7,679 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">45,516</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Export Credit Lines</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">442,405 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,073,868 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,516,273 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,408,697</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,612,365</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Working capital</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">396,941 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10,021 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">406,962 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">368,681</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,312,639</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Special asset sanitation program</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">284,308</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">CRA - Agribusiness Receivables Certificate</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">52,691 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">915,257 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">967,948 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">821,093</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,597,447</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">Debentures</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">137,316 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,072,699 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,210,015 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,022,005</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">755,760</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">Tax incentives</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,601 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,601 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">44,816</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5,720</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>National currency</B></P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>1,036,819 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>8,075,659 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>9,112,478 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>6,665,292</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>7,613,755</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">Export credit lines</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">152,734 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">915,257 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">311,385 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">392,636</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">407,275</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">Bonds</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,668,452 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,072,699 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">15,544,012 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">14,829,993</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10,407,484</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">Advances on Exchange Contracts (&quot;ACC&quot;)</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,103 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,103 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">Working capital</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">341,960 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.75in; text-align: right">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right">143,092</P>
    <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">485,052 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">516,505</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">191,765</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Foreign currency</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>2,166,249 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.75in; text-align: right">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>14,177,303 </B></P>
    <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>16,343,552 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>15,739,134</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>11,006,524</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B><U>Total:</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B><U>3,203,068 </U></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.75in; text-align: right">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B><U>22,252,962 </U></B></P>
    <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.75in; text-align: right">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B><U>25,456,030 </U></B></P>
    <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B><U>22,404,426</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B><U>18,620,279</U></B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  </TABLE>

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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The following tables present the changes in
the Company's Loans and Financing on 12.31.21 and in the two previous fiscal years:</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Current and Non-Current Loans and Financing
&ndash; Fiscal year ended 12.31.21 <I>(In thousands of reais)</I></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 16%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 6%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 6%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Consolidated</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Charges (yy)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Average interest rate (p.a.)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>PMPV <SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Balance 12.31.20</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Tomado</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Business combination</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Amortization</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Interest paid</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Appropriate interest</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Var. Exchange</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Balance 12.31.21</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>National currency</B></FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Working capital</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Pre / CDI</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">5.24%<BR>
&nbsp;(3.25% on 12.31.20)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">0.7</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">368,681 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">400,000 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">25,950 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(389,734)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">11,910</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(13,975) </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">406,962 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">CRA - Agribusiness Receivables Certificate</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">IPCA</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">16.57%<BR>
&nbsp;(10.21% on 12.31.20)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">2.0</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">821,093 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">95 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">146,760 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">967,948 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Development bank lines of credit</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">TJLP / TLP / IPCA / FINAME</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3.12%</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3.7</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">9,006 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(344)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">14 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">8,676 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Debentures</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">CDI / IPCA</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">15.54%<BR>
&nbsp;(8.28% on 12.31.20)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">7.3</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3,022,005 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">965,549 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(188,668)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">411,129 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">4,210,015 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">export facility</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Pre / CDI + vc USD </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">10.87% (3.69% on 12.31.20)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">4.2</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">2,408,697 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">937,250 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">20,456 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(5,632)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(117,679)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">122,510 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">150,671 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3,516,273 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Tax incentives</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Pre</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">2.40%<BR>
&nbsp;(2.40% on 12.31.20)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">44,816 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">82,064 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(123,236)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(797)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">754 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3,601 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">6,665,292 </FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>2,384,863 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>55,412 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>(519,953)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>(319,046)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>695,239 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>150,671 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>9,112,478 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Foreign currency</B></FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Bonds</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Pre + vc USD and EUR</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">4.82%<BR>
&nbsp;(4.81% on 12.31.20)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">11.6 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">14,829,993 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(314,806)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(790,836)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">888,804 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">930,857 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">15,544,012 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Export credit lines</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Pre / LIBOR + vc USD</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3.43% (3.13% on 12.31.20)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">1.3 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">392,636 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">30,476 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(138,870)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-10,867</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(10,466) </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">27,544 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">311,385 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Advances on Exchange Contracts (&quot;ACC&quot;)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Pre + vc USD</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">249,000 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">2,672 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">249,000</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(1,182)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">1,363 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">250 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3,103 </FONT></TD></TR>

<TR>
    <TD STYLE="width: 16%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Working capital</FONT></TD>
    <TD STYLE="width: 7%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Pre + vc TRY and USD</FONT></TD>
    <TD STYLE="width: 8%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">13.35% (10.98% on 12.31.20)</FONT></TD>
    <TD STYLE="width: 6%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">1.5 </FONT></TD>
    <TD STYLE="width: 7%; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">516,505 </FONT></TD>
    <TD STYLE="width: 7%; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">356,919 </FONT></TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">29,555 </FONT></TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(172,718)</FONT></TD>
    <TD STYLE="width: 7%; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(71,436)</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">85,339 </FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(259,112)</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">485,052 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>15,739,134 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>605,919 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>62,703 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>(875,394)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>(874,321)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>985,972 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>699,539 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>16,343,552 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>22,404,426 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>2,990,782 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>118,115 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>(1,395,347)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>(1,193,367)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>1,681,211 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>850,210 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>25,456,030 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Current Assets</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>1,059,984 </B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>3,203,068 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Non-current</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>21,344,442 </B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>22,252,962 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Current and Non-Current Loans and Financing
&ndash; Fiscal year ended 12.31.20</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>(BRL thousands)</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 19%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 6%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 6%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 5%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Consolidated</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Charges (yy)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Average interest rate (p.a.)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>PMPV <SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Balance 12.31.19</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Tomado</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Amortization</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Interest paid</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Appropriate interest</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Var. Exchange</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Balance 12.31.20</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>National currency</B></FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Working capital</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Pre / CDI</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3.25%<BR>
&nbsp;( 6.07% on 12.31. 19)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">0.6</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3,312,639 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">1,200,000 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(3,947,237)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(340,227)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">143,506 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">368,681 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">CRA - Agribusiness Receivables Certificate</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">IPCA</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">10.21%<BR>
&nbsp;( 6.73% on 12.31. 19)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">1,597,447 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">780,000</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(100,932)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">104,578 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">821,093 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Development bank lines of credit</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">TJLP / TLP / IPCA / FINAME</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">( 5.09% on 12.31. 19)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">45,516 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(45,470)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(427)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">381 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Debentures</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">CDI / IPCA</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">8.28%<BR>
&nbsp;(7.40% on 12.31.19)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">7,7</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">755,760 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">2,124,725 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">38,339</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">179,859 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3,022,005 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">export facility</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Pre / CDI + vc USD </FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3.69% ( 5.83% on 12.31. 19)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">6.8</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">1,612,365 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">1,490,809 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">1,113,176</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(111,498)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">152,968 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">377,229 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">2,408,697 </FONT></TD></TR>

<TR>
    <TD STYLE="width: 19%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Special asset sanitation program</FONT></TD>
    <TD STYLE="width: 7%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">IGPM</FONT></TD>
    <TD STYLE="width: 8%; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">( 12.22% on 12.31. 19)</FONT></TD>
    <TD STYLE="width: 6%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="width: 11%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">284,308 </FONT></TD>
    <TD STYLE="width: 6%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 9%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(287,621)</FONT></TD>
    <TD STYLE="width: 10%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">5,142</FONT></TD>
    <TD STYLE="width: 9%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">8,455 </FONT></TD>
    <TD STYLE="width: 5%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 10%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Tax incentives</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Pre</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">2.40%<BR>
&nbsp;(2.40% on 12.31. 19)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">5,720 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">73,671 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">34,609</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(667)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">701 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">44,816 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">7,613,755 </FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>4,889,205 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>(6,208,113)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>(597,232)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>590,448 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>377,229 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>6,665,292 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>Foreign currency</B></FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Bonds</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Pre + vc USD and EUR</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">4, 81%<BR>
&nbsp;(4, 36% in 31.12. 19)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">12.4 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">10,407,484 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">4,282,961 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(3,010,421)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(760,879)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">881,137 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3,029,711 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">14,829,993 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Export credit lines</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Pre / LIBOR + you USD</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3.13% ( 5, 77 % on 12.31. 19)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">2.2 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">407,275 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(118,113)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(20,686)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">17,627 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">106,533 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">392,636 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Advances on Exchange Contracts (&quot;ACC&quot;)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Pre + vc USD</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">529,211 </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(529,210)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(1)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Working capital</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Pre + vc TRY and USD</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">10.98% ( 16.56% on 12.31. 19)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">1.2 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">191,765 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">718,956 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(381,502)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(42,742)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">46,704 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(16,676)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">516,505 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">11,006,524 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>5,531,128 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>(4,039,246)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>(824,307)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>945,468 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>3,119,567 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>15,739,134 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">18,620,279 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>10,420,333 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>(10,247,359)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>(1,421,539)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>1,535,916 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>3,496,796 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>22,404,426 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Current Assets</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3,132,029 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>1,059,984 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Non-current</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">15,488,250 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>21,344,442 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Current and Non-Current Loans and Financing
&ndash; Fiscal year ended on 12.31.19</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>(BRL thousands)</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 19%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 6%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 6%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 5%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Consolidated</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Charges (yy)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Average interest rate (p.a.)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>PMPV <SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Balance 12.31.18</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Disbursed</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Amortization</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Interest paid</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Appropriate interest</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Var. Exchange</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Balance 12.31.19</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>National currency</B></FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Working capital</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Pre-fixed / CDI </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">6.07% (7.78% on 12.31.18)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">1.2</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">5,863,023</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">1,193,616</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(3,745,967)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(421,600)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">423,567</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3,312,639</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">CRA - Agribusiness Receivables Certificate</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">CDI / IPCA </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">6.73% (6.08% on 12.31.18)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">2.5</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">2,597,502</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(999.90 5 )</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(139,633)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">139,483</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">1,597,447</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Development bank lines of credit</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Pre-fixed / Selic / TJLP</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">5.09% (6.16% on 12.31.18)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">0.3</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">264,545</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(223,077)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">7,005</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">11,053</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">45,516</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Debentures</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">CDI / IPCA</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">7.90%</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">6.2</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">742,250</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(15)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">16,372</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">29,897</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">755,760</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">export facility</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">CDI</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">5.83% (9.02% on 12.31.18)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">8.7</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">1,625,327</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(22,403)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">31,700</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(108,845)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">149,986</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">1,612,365</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Special asset sanitation program</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">IGPM </FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">12.22% (12.45 on 12.31.18)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">0,2</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">273,426</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">8,554</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">19.436</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">284,308</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Tax incentives</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Pre-fixed</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">2.40% (2.40% on 12.31.18)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3,317</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">70,203</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(67,805)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(570)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">575</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">5,720</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>10,627,140</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>1,983,666</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>(5,068,469)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>(702,579)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>773,997</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>-</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>7,613,755</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Foreign currency</B></FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>

<TR>
    <TD STYLE="width: 19%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>Bonds</I></FONT></TD>
    <TD STYLE="width: 7%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Fixed rate + vc USD and EUR</FONT></TD>
    <TD STYLE="width: 8%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">4.36% (4.07% 12.31.18)</FONT></TD>
    <TD STYLE="width: 6%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">6.0</FONT></TD>
    <TD STYLE="width: 11%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">9,746,446</FONT></TD>
    <TD STYLE="width: 6%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3,082,040</FONT></TD>
    <TD STYLE="width: 9%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(2,906,635)</FONT></TD>
    <TD STYLE="width: 10%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(504,774)</FONT></TD>
    <TD STYLE="width: 9%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">648,991</FONT></TD>
    <TD STYLE="width: 5%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">341,416</FONT></TD>
    <TD STYLE="width: 10%; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">10,407,484</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Export credit lines</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">LIBOR + you USD</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">5.54% (2.47% on 12.31.18)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">3.2</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">1,383,192</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(948,646)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">$31,277</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">28,937</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(24,931)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">407,275</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Advances on Exchange Contracts (&quot;ACC&quot;)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Pre-fixed + vc USD</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(4.67% on 12.31.18)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">214,192</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">92,750</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(327,469)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(10,249)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">12,831</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">17,945</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Working capital</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">Prefixed + vc TRY</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">16.56% (21.91% on 12.31.18)</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">1.1</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">194,474</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">240,702</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(229,919)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">41,974</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">42,237</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">(13,755)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt">191,765</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>11,538,304</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>3,415,492</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>(4,412,669)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>(588,274)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>732,996</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>320,675</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>11,006,524</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>22,165,444</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>5,399,158</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>(9,481,138)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>(1,290,853)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>1,506,993</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>320,675</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>18,620,279</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Current Assets</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>4,547,389</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>3,132,029</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Non-current</FONT></TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 1.65pt; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>17,618,055</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.65pt; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt"><B>15,488,250</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>i. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Relevant
loan and financing agreements </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The main loan and financing instruments in
effect on December 31, 2021 are described below.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Loans and Financing in National Currency</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>Development Bank Credit Lines</I></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>Development Bank Credit Lines.</I> During
the year in 2020, the Company had outstanding obligations with BNDES <I>,</I> including loans obtained under the FINEM program . Loans
with BNDES were entered into to finance the acquisition of machinery and equipment, as well as the construction, improvement and expansion
of production facilities. The principal amount and interest on these loans they were usually paid monthly . The principal amount of the
loans was denominated in Reais with interest rates subject to TJLP and Selic variations. These loans are included in the &ldquo;Development
Bank Credit Line &ndash; National Currency&rdquo; line in the tables above. All credit lines with development banks were settled during
2020. In 2021, as a result of the acquisition of the companies Mogiana and Hercosul, the Company absorbed lines of credit with development
banks, the principal amount of which is denominated in reais with interest rates subject to TJLP/TLP and IPCA variations. On 12.31.21,
the outstanding balance was R$7,679 thousand.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>Working Capital Credit Lines</I></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Rural Credit Financing. The Company had loans
in the amount of R$383,342 thousand on 12.31.21 with commercial banks that, under a Federal Government program, offer attractive interest
rates of 5.14% pa, focused on encouraging rural activities, maturing in 2022 . The proceeds of these loans are generally applied and are
included in the &ldquo;Working capital &ndash; National Currency&rdquo; line in the tables above. These lines of credit are included in
the &quot;Working Capital &mdash; Local Currency&quot; line in the table above.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Other Working Capital Lines. The Company had
other working capital lines in the amount of R$23,620 thousand on 12/31/21 with commercial banks, with maturity dates between 2022 and
2025. Generally, the Company uses the proceeds of these loans for working capital.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>Export Credit Lines</I></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>Export pre-financing lines</I> . The Company
has a pre-financing facility for exports with a total balance of R$3,516,273 thousand on 12.31.21. The indebtedness under these lines
of credit is denominated in Reais with maturity dates between 2022 and 2028 . These loans are included in the &ldquo;Export Credit Line
&ndash; National Currency&rdquo; line in the tables above.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>Tax Incentives</I></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>State Tax Incentives</I> . The Company also
has credits offered under state tax incentive programs to promote investment in these states, with a balance of R$3,601 thousand on 12.31.21.
Under these programs, the Company was granted a credit proportional to the payment of ICMS generated by investments in the construction
or expansion of production units in these states. These credits have a term of 20 years and fixed interest rates. These lines of credit
are included in the &ldquo;Tax Incentives &ndash; National Currency&rdquo; line in the tables above.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>Certificate of Agribusiness Receivables
(&quot;CRA&quot;) </I></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>On December 16, 2016, the Company concluded
the issuance of CRA linked to the public offering of distribution of the 1st and 2nd Series of the 1st Issue of Vert Companhia Securitizadora,
in the amount of R$1,500,000 thousand, net of interest. The issuance of the 1st Series totaled R$780,000 thousand at a cost of 96.00%
of the Interbank Deposit rate, with the principal due in a single installment on December 16, 2020 and interest paid every 8 months. The
issuance of the 2nd Series, in turn, totaled R$720,000 thousand, at a cost of 5.8970% pa updated by the IPCA variation, with the principal
due in a single installment on December 18, 2023 and interest paid every 16 or 18 months. The CRAs are backed by credits arising from
the Company's exports contracted with BRF Global GmbH and BRF Foods GmbH and were assigned and/or pledged to said securitization company.
This operation is included in the &ldquo;Agribusiness Receivables Certificate &ndash; National Currency&rdquo; line in the tables above.
On 12.31.21, the outstanding balance of this line was R$967,948 thousand. [</I></P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>Debentures</I></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>1st Issue of Debentures:</I> On April 30,
2019, 750,000 Debentures were subscribed with a unit par value of R$1,000.00, totaling R$750,000 thousand, being issued in 3 series. The
Debentures are simple, non-convertible into shares, unsecured and with restricted efforts. The 1st series has an amount of R$70,000 thousand,
remunerated at CDI+0.80% with semi-annual interest payments and a single principal maturity in 2022. The 2nd series has an amount of R$411,732
thousand, remunerated at IPCA+5.50% with semi-annual interest payments and principal maturity in 2025 and 2026. The 4th series has an
amount of R$268,268 thousand, remunerated at CDI+1.45% with semi-annual interest payments and principal maturity in 2025 and 2026. On
12.31.21, the outstanding balance for the 1st, 2nd and 3rd series was R$823,946 thousand.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>2nd Issue of Debentures:</I> On July 14,
2020, the 2nd (second) issue of simple, non-convertible debentures, of the 2 (two) series, for private placement, was approved by the
Company. The Debentures were the subject of a private placement with VERT, within the scope of the 46th (forty-sixth) issuance of agribusiness
receivables certificates, in a single series, from the Securitizer (&ldquo;CRA&rdquo;), backed by the agribusiness credit rights arising
from the Debentures, which were, on 07.14.2020, object of public distribution with restricted efforts, pursuant to Law No. 11,076, of
December 30, 2004, as amended, of CVM Instruction No. 600, of August 1, 2018, as amended, and CVM Instruction No. 476, of January 16,
2009, as amended.They were subscribed by the Securitizer, within the scope of the Private Placement, 2,200,000 Debentures with unit par
value of R$1,000.00, totaling R$2,200,000 thousand. The 1st series has an amount of R$705,000 thousand, remunerated at IPCA+5.30%, with
semi-annual interest payments and a single principal maturity in 2027. The 2nd series has an amount of R$1,495,000 thousand, remunerated
at IPCA+5.60% with semi-annual interest payments and principal maturity in 2028, 2029 and 2030. As of 12.31.21, the outstanding balance
of this line is R$2,351,363 thousand.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>3rd Issue of Debentures:</I> On May 28,
2021, the Company approved the 3rd (third) issue of simple, non-convertible, unsecured debentures, in a single series, for private placement.
The Debentures were the subject of a private placement with VERT, within the scope of the 60th (sixtieth) issue of agribusiness receivables
certificates, in a single series, from the Securitizer (&quot;CRA&quot;), backed by the agribusiness credit rights arising from the Debentures,
the which were, on June 2, 2021, subject to public distribution with restricted efforts, pursuant to Law No. 11,076, of December 30, 2004,
as amended, of CVM Instruction No. 600, of August 1, 2018, as amended, and of CVM Instruction No. 476, of January 16, 2009, as amended.Under
the Private Placement, 1,000,000 (one million) of Debentures were subscribed by the Securitizer, with a unit face value of R$1,000.00
(one thousand reais), totaling the amount of R$1,000,000,000.00 (one billion reais). The Debentures will mature on May 14, 2031. As of
12/31/21, the outstanding balance of this line was of R$1,034,706 thousand.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Loans and financing in foreign currency</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>Advance on Exchange Contract</I></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company had a foreign exchange contract
advance facility, maturing in 2022. The indebtedness under these lines of credit was generally denominated in US dollars, with fixed interest.
On 12.31.21, the outstanding balance of this line totaled R$3,103 thousand.</P>

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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><U></U></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>Export Credit Lines</I></P>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><U>Export pre-financing lines</U> : The Company
has a line pre-financing for exports, with a total balance of R$311,385 thousand, on 12.31.21. Indebtedness under these lines of credit
is generally denominated in US dollars, with maturity dates between 2022 and 2024. Interest on these lines accrues over a period of six
and twelve months and is equivalent to LIBOR plus spread. within the scope of this line , the Company received a loan from one or more
creditors guaranteed by receivables related to the exports of its products to specific customers, as in all operations of this nature.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>Working Capital Credit Lines</I></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">These are funds obtained from international
financial institutions, used mainly as working capital, mainly from subsidiaries located in Turkey, in the amount of R$485,052 thousand
and with maturities from 2022 to 2027.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>Bonds</I></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I><U>Senior Notes BRF 2022</U></I> : On June
6, 2012, the Company issued <I>Senior Notes</I> in the total notional amount of US$500,000 thousand, nominal interest rate of 5.88% pa,
effective rate of 6.00% pa and maturity on June 6, 2022. On June 26, 2012, the Company raised an additional US$250,000 thousand, with
a nominal interest rate of 5.88% pa and an effective rate of 5.50% pa On May 28, 2015, the Company finalized an offering repurchase agreement
in the amount of US$577. 130 thousand, so the remaining balance totaled US$172. 870 thousand, with the premium paid in the transaction,
net of interest, in the amount of US$79. 355 thousand (equivalent to BRL 251,936 thousand). On September 14, 2016, the Company finalized
a repurchase offer in the amount of US$54. 208 thousand , premium is paid on the transaction, net of interest, in the amount of US$5.
692 thousand (equivalent to R$18. 933 thousand). On September 18, 2019, the Company finalized a repurchase offer in the amount of US$9,350
thousand, with the premium paid US$362 thousand (equivalent to R$1. 484 thousand), net of interest. On July 24, 2020, the Company finalized
a repurchase offer in the amount of US$27,190 thousand, with the premium paid US$1,360 thousand (equivalent to R$7,089 thousand) , net
of interest. On September 21, 2020, the Company finalized a repurchase offer in the amount of US$11,194 thousand, with the premium paid
US$672 thousand (equivalent to R$3,742 thousand) , net of interest. Said premium, paid to holders of existing bonds, was recorded as a
financial expense. On 12.31.21, the outstanding amount of principal and interest of these <I>Senior Notes</I> is R$396,802 thousand.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I><U>Senior Notes BRF 2023</U> :</I> On May
15, 2013, the Company made an offering abroad of 10-year bonds, in the total amount of US$500,000 thousand, with principal due on May
22, 2023 (&quot; <I><U>Senior Notes BRF 2023</U></I> &rdquo;), issued with a coupon (interest) of 3.95% per year ( <I>yield to maturity</I>
of 4.135%), paid semiannually, as of November 22, 2013. On September 18, 2019, the Company finalized a repurchase offer in the amount
of US$154,011 thousand, with the premium paid US$1,733 thousand (equivalent to R$7. 099 thousand), net of interest. On July 24, 2020,
the Company finalized a repurchase offer in the amount of US$60,567 thousand, with the premium paid US$1,120 thousand (equivalent to R$5,843
thousand) , net of interest. On September 21, 2020, the Company finalized a repurchase offer in the amount of US$51,389 thousand, with
the premium paid US$1,876 thousand (equivalent to BRL 10,450 thousand) , net of interest. Said premium, paid to holders of existing bonds,
was recorded as a financial expense. On 12.31.21, the outstanding amount of principal and interest of these <I>Senior Notes</I> is R$1,303,821
thousand.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I><U>Senior Notes BRF 2024</U> :</I> On May
15, 2014, the Company concluded an offer of <I>Senior Notes</I> term, in the total amount of US$750,000 thousand, with principal due on
May 22, 2024 (&quot; <I><U>Senior Notes BRF 2024</U></I> &rdquo;), issued with a coupon (interest) of 4.75% per year ( <I>yield to maturity</I>
of 4.952%), to be paid semi-annually, as of November 22, 2014. On September 18, 2019, the Company finalized a repurchase offer in the
amount of US$232,142 thousand, with the premium paid US$9,250 thousand (equivalent to BRL 37,900 thousand) , net of interest. On July
24, 2020, the Company finalized a repurchase offer in the amount of US$64,144 thousand, with the premium paid US$1,988 thousand (equivalent
to R$10,369 thousand) , net of interest.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">On September 21, 2020, the Company finalized
a repurchase offer in the amount of US$158,351 thousand, with the premium paid US$10,372 thousand <FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">(equivalent
to R$57,738 thousand) , net of interest. Said premium, paid to holders of existing bonds, was recorded as a financial expense. In 12.31.21
, the outstanding principal and interest amount of these <I>Senior Notes</I> it's from BRL 1,653,847 thousand.</FONT></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I><U>Euro Notes</U></I>: On May 29, 2015,
the Company concluded an offer of <I>Senior Notes</I> of seven years, in the total amount of EUR500,000 thousand, with principal due on
May 3, 2022, issued with a coupon (interest) of 2.75% per year (<I>yield to maturity</I> of 2.822%), to be paid annually, as of June 3,
2016. On September 18, 2019, the Company finalized a repurchase offer in the amount of EUR175,219 thousand, with a premium paid in the
amount of EUR8,542 thousand (equivalent to R$38,718 thousand) , net of interest. On July 24, 2020, the Company finalized a repurchase
offer in the amount of EUR119,061 thousand, with the premium paid EUR1,786 thousand (equivalent to R$10,836 thousand) , net of interest.
On September 21, 2020, the Company finalized a repurchase offer in the amount of EUR39,048 thousand, with the premium paid EUR937 thousand
(equivalent to R$6,092 thousand) , net of interest. Said premium, paid to holders of existing bonds, was recorded as a financial expense.
On 12.31.21, the outstanding amount of principal and interest of these <I>Senior Notes</I> is R$1,072,454 thousand.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I><U>Senior Notes BRF 2026</U></I>: On September
29, 2016, the Company, through its wholly-owned subsidiary BRF GmbH, concluded the offer of <I>Senior Notes</I> term of 10 (ten) years,
in the total amount of US$500,000 thousand, with principal maturity on September 29, 2026, issued with a coupon (interest) of 4.35% pa
( <I>yield to maturity</I> of 4.625%), to be paid semi-annually, as of March 29, 2017. On September 14, 2020, the Company finalized a
repurchase offer in the amount of US$718 thousand, with the premium paid US$28 thousand (equivalent to BRL 151 thousand) , net of interest.
Said premium, paid to holders of existing bonds, was recorded as a financial expense. On 12.31.21, the outstanding amount of principal
and interest of these <I>Senior Notes</I> is R$2,779,725 thousand.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I><U>Senior Notes BRF 2030</U> :</I> On September
24, 2019, the Company concluded an offer of <I>Senior Notes</I> in the total amount of US$750,000 thousand, with principal due on January
24, 2030, issued with a coupon (interest) of 4.875% per year. On December 31, 2020 , there were US$750,000 thousand (equivalent to R$3.
897,525 thousand) of outstanding principal of these securities. On June 2, 2021, the offer to repurchase the 4.875% <I>Senior Notes</I>
(&quot; <U>Buyback Offer</U> &rdquo;) and, on June 30, 2021, the Company announced the closing and final result of the 4.875% Repurchase
Offer <I>Senior Notes.</I> The Repurchase Offer was not conditional on the repurchase of any minimum principal amount of 4.875% <I>Senior
Notes</I> , but the Company's obligation to complete the Repurchase Offer was conditioned to the total repurchase amount not exceeding
US$180,000,000.00 (one hundred and eighty million US dollars). THE Company paid the principal amount of USD 59,402,000.00 (equivalent
to BRL 297,141,000.00). The repurchases generated financial expenses in the amounts of R$14,114,000 referring to the premium paid, R$2,491,000.00
of taxes and R$3,089,394.87 referring to the write-off of issuance costs. In 12.31.21 , the outstanding principal and interest amount
of these <I>Senior Notes</I> it's from BRL 3,914,280 thousand.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I><U>Senior Notes BRF 2050</U> :</I> On September
21, 2020, the Company concluded an offer of <I>Senior Notes</I> in the total amount of US$500,000 thousand, with principal due on September
21, 2050, issued with a coupon (interest) of 5.75% per year. On October 26, 2020, the Company raised an additional US$300,000 thousand,
issued with a coupon (interest) of 5.75% per year. In 12.31.21 , the outstanding principal and interest amount of these <I>Senior Notes</I>
it's from BRL 4,423,083 thousand.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Derivatives </I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Within the scope of the Financial Risk Management
Policy, with the objective of protecting the Company against price uncertainties of risk factors (currencies, <I>commodities</I> and interest),
the Company entered into currency derivative contracts
that had a fair value payable of R$241,461 thousand, <I>commodities</I> which had a positive fair value of R$47,620 thousand and interest
derivative contracts which had fair value payable of R$30,108 thousand on 12/31/21 with different financial institutions on different
maturity dates.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Other lines of credit</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>Revolving Lines of Credit.</I> In order
to maintain a prudent and sustainable position of short-term liquidity and in continuity with the strategy of extending the average term
and reducing the cost of its debts, on 12.27.19, the Company contracted with Banco do Brasil a revolving credit facility in the amount
of up to R$1,500,000 thousand, maturing in three years. In October 28, 20 20, the Company also contracted with Banco do Brasil an additional
revolving credit facility, up to the limit of R$1,500,000 thousand, for a period of three years. Said lines of credit may be fully or
partially disbursed at the Company's discretion, when necessary. On 12.31.21 the lines were available, but had not been used.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Obligations </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">Several of the instruments that govern the Company's
indebtedness contain limitations on encumbrances and some of the instruments that govern the indebtedness contain other clauses, such
as limitations on mergers and sales of assets and transactions with affiliates. On 12.31.21, the Company was in compliance with the clauses
contained in the debt instruments. Such debt instruments include customary default events. The instruments that govern a substantial part
of the Company's indebtedness contain cross-default or cross-acceleration clauses, so that the occurrence of a default event in one of
these instruments could trigger a default event in another indebtedness or allow a creditor, under another debt instrument, which accelerates
the maturity event.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Relevant financial contracts signed after
December 31, 2021 </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">Relevant financial contracts entered into after December
31, 2021 (base date of this Reference Form) are described in Section 3.9 of this Reference Form.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>ii. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
long-term relationships with financial institutions</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company has agreements with financial institutions
whose objective is to facilitate access to credit for its partner rural producers for the construction of aviaries, farms and adaptations.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">It also has agreements that seek to facilitate
access to credit for its suppliers who wish to anticipate receivables from the Company.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Finally, the Company has operations with derivatives
aimed at protecting against exchange rate variations, commodity prices and interest rates, without speculative purposes. These operations
are accounted for at fair value.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>iii. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Degree
of subordination among debts</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">There is no degree of contractual subordination
between the Company's unsecured financial debts. Currently, the Company does not have financial debts that have a real guarantee.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>iv.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
restrictions imposed on the issuer, in particular, in relation to indebtedness limits and contracting of new debts, the distribution of
dividends, the disposal of assets, the issuance of new securities and the disposal of corporate control, as well as whether the issuer
comes complying with these restrictions.</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's debts described in this item
10.1 (f) have, as the case may be, <I>covenants</I> customary non-financial contracts entered into in the financial and capital markets,
which may cause the early maturity of one or more contracts due, for example: (i) to the default by the Company, from defined limits, as the case
may be; (ii) to <I>cross default</I> , from defined limits, as the case may be; (iii) upon early maturity of other debts ( <I>cross-acceleration</I>
), from defined limits, as the case may be; (iv) restrictions on the distribution of dividends, in the event of default; (v) restrictions
on the sale of assets, from certain limits, excluding types of assets and operations, as the case may be; (vi) the sale of corporate control,
etc.; (vii) change of control; etc. Such obligations are being met in accordance with contractual requirements. The Company does not have
<I>covenants</I> funds in their contracts.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>g.limits of contracted financing and percentage
already used</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">All financing agreements entered into by the
Company were fully disbursed, except at <I>Revolving Credit facilities</I> , mentioned above, that remained available according to the
opening balance of BRL 3,000,000 thousand, but not disbursed .</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>h.significant changes in each item of the
financial statements</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Fiscal year ended December 31, 2021 compared
to fiscal year ended December 31, 2020</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">The following table presents financial information
for the fiscal years ended December 31, 2021 and December 31, 2020.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 44%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">( <I>In thousands of BRL, except when %</I> )</FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.31.21 (1)</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>AV-% 12.31.21 (2)</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.31.20 (1)</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>%</B></P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>12.31.20 (2)</B></P></TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>Variation %</B></P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>2021 x 2020</B></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>CONTINUING OPERATIONS</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>NET REVENUE</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">48,343,305 </FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">100,0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">39,469,700 </FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">100.00%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">22.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Cost of goods sold</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(38,177,609)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">.79%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(30,133,769)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-76.3%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">26.7%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>GROSS PROFIT</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>10,165,696 </B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>21.0%</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>9,335,931 </B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>23.7%</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>8.9%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>OPERATING INCOME (EXPENSES)</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Sales</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(6,531,413)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-13.5%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(5,673,030)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-14.4%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">15.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">General and administrative</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(822,960)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-1.7%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(832,858)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-2.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-1.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Loss through impairment of accounts receivable</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(12,799)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12,137</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other operating income, net (expenses)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">211,263 </FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.4%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">28,887 </FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">631.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Equity method</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>PROFIT BEFORE FINANCIAL REVENUE</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>3,009,787 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>6.2%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>2,846,793 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>7.20%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5.7%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Financial incomes</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">537,736 </FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">420,757 </FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-4.80%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">27.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Financial expenses</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,331,615</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-6.9%</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(1,889,454)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.10%</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">76.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Inflation adjustments and exchange rate changes</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(250,696)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-0.5%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(230,298)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-0.60%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8.9%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Net financial revenues (expenses)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>(3,044,575)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-6.3%</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>(1,698,995)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-4.3%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>79.2%</B></P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: right">&nbsp;</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Profit before taxes on profit</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>(34,788)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-0.1%</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>1,147,798 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>2.90%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">103</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Taxes on profits</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">552,102 </FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">242,271 </FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.60%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">127.9%</FONT></TD></TR>

<TR>
    <TD STYLE="vertical-align: top; width: 44%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>NET INCOME FROM CONTINUING OPERATIONS</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; width: 11%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>517,314 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; width: 9%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>1.1%</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; width: 11%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>1,390,069 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; width: 11%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>3.50%</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; width: 14%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">62/8</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>NET LOSS FROM DISCONTINUED OPERATIONS</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>(79,930)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-0.2%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>0.00%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-!</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>NET INCOME FOR THE YEAR</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>437,384 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>0.9 %</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>1,390,069 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>3.50%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-68.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Net Income Continuing Operations Attributable to</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Controlling shareholders</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">499,385 </FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,383,564 </FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3.50%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">63-9</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Non-controlling interest</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">17,929 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,505 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.00%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">175.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>517,314 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>1.1%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>1,390,069 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>3.50%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">62/8</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Net Loss Discontinued Operations Attributable to</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Controlling shareholders</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>(79,930)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-0.2%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.00%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Non-controlling interest</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>(79,930)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-0.2%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.00%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><SUP>(1)</SUP></B> Information extracted
from the Consolidated Financial Statements as of December 31, 2021 and December 31, 2020.</P>

<P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><SUP>(2)</SUP></B> Representativeness in
relation to Net Revenue.</P>


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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Net Income</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 64%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">( <I>In thousands of BRL, except when %</I> )</FONT></TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.31.21</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.31.20</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Net revenue </B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Brazil</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">In natura</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,002,585</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5,014,250</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Poultry</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,544,724</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,738,560</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">swine and others</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,457,861</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,275,690</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Processing</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18,729,686</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">15,944,162</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other sales</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">76,618</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">26,707</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">24,808,889</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">20,985,119</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>International</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">In natura</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18,212,688</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">14,570,620</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Poultry</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">15,818,512</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12,246,499</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">swine and others</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,394,176</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,324,121</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Processing</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,955,431</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,366,204</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other sales</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">346,585</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">303,370</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">21,514,704</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">17,240,194</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Other Segments</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>

<TR>
    <TD STYLE="vertical-align: top; width: 64%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Others</FONT></TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,019,712</FONT></TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,244,387</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>48,343,305</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>39,469,700</B></FONT></TD></TR>
  </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>Presentation of operating segments and net
sales information</I></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's operating segments include: (i)
Brazil; (ii) International, which concentrates all operations outside Brazil; and (iii) Others, which includes operations in the sector
<I>pet</I> , ingredients and others. These segments include sales through all distribution channels and operations, subdivided according
to the nature of the following products: (i) poultry (whole and in natura cuts), (ii) pork and others (in natura cuts); (iii) processed
(processed foods, frozen and processed products derived from poultry, pork, margarine, vegetables and soy-based products); and (iv) other
sales (flour for <I>food service</I> and others). Others are divided into marketing and development of ingredients for animal nutrition,
human nutrition, plant nutrition (fertilizers), health (health and wellness) and pet food, as well as marketing of agricultural products.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Net revenues are shown after deducting gross
income taxes and discounts and returns. Total sales deductions can be broken down as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">ICMS - ICMS is a state value-added
tax on gross revenues in the Brazilian market, at a rate that varies according to the state and the product sold. The Company's average
ICMS rate for the fiscal year ended December 31, 2021 was 9.39%. Exports are not subject to these taxes.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&bull; PIS and COFINS - PIS and COFINS are
federal social contributions levied on gross revenue in the Brazilian market at the rates of 1.65% for PIS and 7.6% for COFINS in the
fiscal year ended on 12.31.21. Additionally, (1) exports are not subject to these taxes, (2) the Company currently benefits from a rate
reduction to zero with respect to in natura cuts of pork and poultry, and (3) financial revenues are subject to PIS and COFINS at tax
rates of 0.65% and 4.0%, respectively.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&bull; Discounts, returns and other deductions
- Discounts, returns and other deductions are unconditional customer discounts, product returns and other deductions from gross revenues.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Most deductions on gross sales are attributed
to the following taxes: ICMS, PIS and COFINS. Consequently, deductions from gross sales in the domestic market, which are subject to these
taxes, are significantly greater than deductions from gross sales in export markets.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The table below sets forth gross revenues and
deductions for the years ended December 31, 2021 and 2020:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 52%; padding-bottom: 12pt; padding-left: 0.1in; text-align: justify; text-indent: -0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Fiscal year ended on December 31,</B></FONT></TD>
    <TD STYLE="width: 17%; padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.25pt solid; text-align: center"><B>2021</B></P></TD>
    <TD STYLE="width: 17%; padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.25pt solid; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="width: 14%; padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.25pt solid; text-align: center"><B>Variation</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 12pt; padding-left: 0.1in; text-align: justify; text-indent: -0.1in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(In thousands of Reais)</I></FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(%)</I></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 12pt; padding-left: 0.1in; text-align: justify; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B><I>Gross revenue </I></B></FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 0.2in; text-align: justify; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Brazil</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">30,700,510</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">26,017,981</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 0.2in; text-align: justify; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">International</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">22,959,318 </FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18,514,099 </FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">24.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 0.2in; text-align: justify; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other segments</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,319,991 </FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,378,344 </FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">68.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 0.1in; text-align: justify; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>55,979,819 </B></FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>45,910,424 </B></FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>21.9%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 0.1in; text-align: justify; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B><I>Deductions from gross income</I></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right">&nbsp;</TD></TR>

<TR>
    <TD STYLE="vertical-align: bottom; width: 52%; padding-bottom: 12pt; padding-left: 0.2in; text-align: justify; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Brazil</FONT></TD>
    <TD STYLE="width: 17%; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(5,891,621)</FONT></TD>
    <TD STYLE="width: 17%; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(5,032,862)</FONT></TD>
    <TD STYLE="width: 14%; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">17.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 0.2in; text-align: justify; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">International</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(1,444,614)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(1,273,905)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">13.4%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 0.2in; text-align: justify; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other segments</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(300,279)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(133,957)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">124.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 0.1in; text-align: justify; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>(7,636,514)</B></FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>(6,440,724)</B></FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>18.6%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 0.1in; text-align: justify; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B><I>Net revenue</I></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 0.2in; text-align: justify; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Brazil</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">24,808,889 </FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">20,985,119 </FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 0.2in; text-align: justify; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">International</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">21,514,704 </FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">17,240,194 </FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">24.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 0.2in; text-align: justify; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other segments</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,019,712 </FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,244,387 </FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">62.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 0.1in; text-align: justify; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>48,343,305 </B></FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>39,469,700 </B></FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>22.5%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The following table presents the consolidated
average sales prices:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Volume -
    Fiscal Year Ended December 31</B></P></TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Net Revenue
    - Exercises closed socials on December 31</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 23%; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 14%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2021</B></P></TD>
    <TD STYLE="width: 12%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="width: 10%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Variation</B></P></TD>
    <TD STYLE="width: 14%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2021</B></P></TD>
    <TD STYLE="width: 15%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="width: 12%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Variation</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(in thousands of tons)</I></FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(%)</I></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(in reais per kg)</I></FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(%)</I></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 6pt; text-align: justify; text-indent: -6pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Consolidated</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,620</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,479</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3.2</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10,46</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8.81</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18.7</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Consolidated net revenue from the Company's
continuing operations increased by R$ 8,873,605 thousand, or 22.5%, from R$39,469,700 thousand in 2020 to BRL 48,343,305 thousand in 2021,
mainly due to a 3.2% increase in sales volume in the year ended 12.31.21 compared to the year ended 12.31.20 (particularly in the International
and Other segments) and increase in the average sales prices of 18.7% in the fiscal year closed as of December 31, 2021 compared to average
sales prices in the previous year:</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">1. <U>Brazil</U> &ndash; Net revenue from the
Brazil segment increased by R$3,823,770 thousand, or 18.2%, from R$20,985,119 thousand in 2020 to R$24,808,889 thousand in 2021 , mainly
due to the 19.3% increase in average selling prices. Additionally, considering the challenging context of loss of consumer confidence
and pessimistic economic prospects, our competitive advantages, such as brand preference, wide distribution and comprehensive portfolio,
among others, demonstrate the effectiveness of BRF's strategy in the Brazilian market, since they were Price increases were conducted
to balance industry margins, especially in the processed foods and margarine categories, which resulted in higher average selling prices.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The following table presents a breakdown of
sales volume and Net Revenue in Brazil:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Volume -
    Fiscal Year Ended December 31</B></P></TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Net Revenue
    - Exercises closed socials on December 31</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 25%; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 13%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2021</B></P></TD>
    <TD STYLE="width: 12%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Variation</B></P></TD>
    <TD STYLE="width: 15%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2021</B></P></TD>
    <TD STYLE="width: 14%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="width: 10%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Variation</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(in thousands of tons)</I></FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(%)</I></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(in thousands of reais)</I></FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(%)</I></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 6pt; text-align: justify; text-indent: -6pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">birds</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">456</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">466</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(2.1)</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,543,950</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,738,560</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">21.5</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 6pt; text-align: justify; text-indent: -6pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">swine and others</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">128</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">119</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7.4</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,457,861</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,275,690</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">14.3</FONT></TD></TR>

<TR>
    <TD STYLE="vertical-align: bottom; width: 25%; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Total fresh meat</FONT></TD>
    <TD STYLE="width: 13%; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">584</FONT></TD>
    <TD STYLE="width: 12%; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">585</FONT></TD>
    <TD STYLE="width: 11%; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(0.1)</FONT></TD>
    <TD STYLE="width: 15%; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,001,811</FONT></TD>
    <TD STYLE="width: 14%; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5,014,250</FONT></TD>
    <TD STYLE="width: 10%; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">19.7</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 6pt; text-align: justify; text-indent: -6pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">processed</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,711</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,735</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(1.4)</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18,730,477</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">15,944,162</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">17.5</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 6pt; text-align: justify; text-indent: -6pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">other sales</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right">5</P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right">1</P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right">335.9</P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right">76,601</P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right">26,707</P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right">186.8</P></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 6pt; text-align: justify; text-indent: -6pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 1.5pt double; text-align: right"><B>2.300</B></P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 1.5pt double; text-align: right"><B>2,321</B></P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 1.5pt double; text-align: right"><B>(0.9)</B></P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 1.5pt double; text-align: right"><B>24,808,889</B></P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 1.5pt double; text-align: right"><B>20,985,119</B></P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 1.5pt double; text-align: right"><B>18.2</B></P></TD></TR>
  </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The following table presents the average sales
prices in Brazil:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Average
    Sales Prices for the years closed socials on December 31</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 59%; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 13%; padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2021</B></P></TD>
    <TD STYLE="width: 14%; padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="width: 14%; padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Variation</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(in reais per kg)</I></FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(%)</I></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 6pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Brazil</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10.78</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9.04</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">19,3</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">2. <U>International</U> &ndash; The net revenue
of the international segment increased by R$4,274,510 thousand, or 24.8%, from R$17,240,194 thousand in 2020 to R$21,514,704 thousand
in 2021 . The increase is mainly due to a 4.1% expansion in sales volume, as a consequence of an increase in demand for foodstuffs and
an increase in average prices of 19.8%, part of which is due to the devaluation of the Real against the US dollar in the period (approximately
4.6%). We realize that the demand for food is heated, which is a reflection of the advance in the pace of vaccination against COVID-19,
which makes room for a more optimistic scenario, growth in economic activity and the return of the <I>food service</I> , contributing
to the general recovery of the food industry.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The following table presents a breakdown of
sales volume and net sales for the International segment:</P>


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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Volume -
    Fiscal Year Ended December 31</B></P></TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Net Revenue
    - Exercises closed socials on December 31</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 29%; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2021</B></P></TD>
    <TD STYLE="width: 10%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="width: 9%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Variation</B></P></TD>
    <TD STYLE="width: 15%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2021</B></P></TD>
    <TD STYLE="width: 15%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="width: 12%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Variation</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(in thousands of tons)</I></FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(%)</I></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(in thousands of reais)</I></FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(%)</I></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 6pt; text-align: justify; text-indent: -6pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">birds</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.498</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,435</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.4</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">15,818,820</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12,246,499</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">29.2</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 6pt; text-align: justify; text-indent: -6pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">swine and others</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">188</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">194</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-3.1</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,394,176</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,324,121</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3.0</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; padding-left: 15pt; text-align: justify; text-indent: -9.35pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Total fresh meat</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,686</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,629</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3.5</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18,212,996</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">14,570,620</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">25.0</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 6pt; text-align: justify; text-indent: -6pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">processed</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">261</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">248</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5.4</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,955,123</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,366,204</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">24,9</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 6pt; text-align: justify; text-indent: -6pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">other sales</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right">10</P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right">4</P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right">146.9</P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right">346,585</P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right">303,370</P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right">14.2</P></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 6pt; text-align: justify; text-indent: -6pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 1.5pt double; text-align: right"><B>1,957</B></P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 1.5pt double; text-align: right"><B>1,880</B></P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 1.5pt double; text-align: right"><B>4,1</B></P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 1.5pt double; text-align: right"><B>21,514,704</B></P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 1.5pt double; text-align: right"><B>17,240,194</B></P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 1.5pt double; text-align: right"><B>24.8</B></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The following table provides a further breakdown
of international segment sales volume and net sales in Asia, considering direct exports and Halal duty paid (DDP) delivery:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Volume -
    Exercises closed socials on December 31</B></P></TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Net Revenue
    - Exercises closed socials on December 31</B></P></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; width: 31%; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2021</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="vertical-align: top; width: 9%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Variation</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 12%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2021</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 13%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="vertical-align: top; width: 13%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Variation</B></P></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(in thousands of tons)</I></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(%)</I></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(in thousands of reais)</I></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(%)</I></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 6pt; text-align: justify; text-indent: -6pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Asia</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">551</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">554</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-0.5</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,285,311</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5,658,005</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">11,1</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 6pt; text-align: justify; text-indent: -6pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">direct exports</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">685</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">609</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12.5</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,487,537</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,299,739</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">50.9</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 6pt; text-align: justify; text-indent: -6pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">DDP Halal</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right">721</P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right">717</P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right">0.6</P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right">8,741,856</P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right">7,282,450</P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right">20.0</P></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 6pt; text-align: justify; text-indent: -6pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 1.5pt double; text-align: right"><B>1,957</B></P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 1.5pt double; text-align: right"><B>1,880</B></P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 1.5pt double; text-align: right"><B>4,1</B></P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 1.5pt double; text-align: right"><B>21,514,704</B></P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 1.5pt double; text-align: right"><B>17,240,194</B></P></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 1.5pt double; text-align: right"><B>24.8</B></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The following table presents the average sales
prices for the International segment:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Average
    Sales Prices in the Years closed socials on December 31</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 65%; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2021</B></P></TD>
    <TD STYLE="width: 12%; padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="width: 12%; padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Variation</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(in reais per kg)</I></FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(%)</I></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 47.3pt; padding-bottom: 12pt; padding-left: 6pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">International</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10.99</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9.17</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">19.8</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">3. <U>Other segments</U> &ndash; Net revenue
from other segments increased by R$775,325 thousand, or 62.3%, from R$1,244,387 thousand in 2020 to BRL 2,019,712 thousand, in 2021 ,
mainly due to: (i) the expansion of the Ingredients business, which operates by-products of the Company, through the creation of high
added value and sustainable products; and (ii) the PET business, through an organic expansion of the Company's product portfolio and inorganic
through the acquisitions of Grupo Hercosul and Mogiana, which were concluded on 08/02/21 and 09/01/21 respectively .</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The following table presents the average sales
prices for other segments:</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Volume -
    Fiscal Year Ended December 31</B></P></TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Net Revenue
    - Exercises closed socials on December 31</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 22%; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2021</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="width: 12%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Variation</B></P></TD>
    <TD STYLE="width: 17%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2021</B></P></TD>
    <TD STYLE="width: 15%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="width: 12%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Variation</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(in thousands of tons)</I></FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(%)</I></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(in thousands of reais)</I></FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(%)</I></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 12pt; padding-left: 6.45pt; text-align: justify; text-indent: -6.45pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other Segments</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">363</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">277</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">30.8</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,019,712</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,244,387</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">62.3</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The following table presents the average sales
prices for other segments:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Average
    Sales Prices in the Years closed socials on December 31</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 66%; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2021</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="width: 12%; padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Variation</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><I>(</I></FONT><I> <FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">in</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">real</FONT> <FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">per</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">kg)</FONT></I></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><I>(%)</I></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 61.85pt; padding-bottom: 12pt; padding-left: 6pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other Segments</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">5</FONT><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">,</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">56</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">4</FONT><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">,</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">48</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">24</FONT><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">*1</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Cost of goods sold</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">in the exercise social closed on 12.31.21 ,
the cost of goods sold totaled R$38,177,609 thousand, an increase of 26.7% or R$8,043,840 thousand compared to 2020, which was R$30,133,769
thousand. The cost of goods sold in 2021 was impacted by (i) the increase in volumes; (ii) the increase in grain prices; (iii) the effects
of inflation on the main production inputs, for example, plastic packaging and cardboard packaging; and (iv) higher fuel, freight, storage
and port services costs.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Gross profit</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">in the exercise social closed on 12.31.21 ,
gross profit totaled R$10,165,696 thousand, registering an increase of 8.9%, or R$829,765 thousand, compared to 2020 , which was R$9,335,931
thousand, for the reasons listed above. Gross margin dropped from 23.7% in 2020 to 21.0% in 2021. This reduction was mainly driven by
the movement of unprecedented inflation of commodities on a global scale, which triggered higher costs of raw materials, packaging and
freight, among others. The Company adjusted its prices to compensate for the increase in costs.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The following table provides a breakdown of
gross profit for the Brazil, International and Other segments, with additional breakdown of the International segment in Asia, Direct
Exports (direct export) and DDP Halal (local distribution):</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center; text-indent: 0.45pt"><B>Fiscal
    years ended December 31</B></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 46%; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 17%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center; text-indent: 0.45pt"><B>2021</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 17%">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="vertical-align: top; width: 20%">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Variation</B></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(in thousands of reais, except where indicated)</I></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>(%)</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Brazil</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 4.3pt; text-align: right; text-indent: 0.45pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>5,350,075</B></FONT></TD>
    <TD>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>5,194,262</B></P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 3.5pt 0 4.3pt; text-align: right"><B>&nbsp;</B></P></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 4.3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>3.0</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Internationa</B>l:</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 4.3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>4,240,493</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>3,869,861</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 4.3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>9,6</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 7.9pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Asia</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 4.3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,000,890</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,598,578</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 4.3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(37.4)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 7.9pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">direct exports</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 4.3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,020,245</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">545,230</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 4.3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">87.1</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 7.9pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">DDP Halal</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 4.3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,219,358</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,726,053</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 4.3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">28.6</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Other segments</B></FONT></TD>
    <TD>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right"><B>575,126</B></P></TD>
    <TD>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right"><B>271,808</B></P></TD>
    <TD>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: right"><B>111.6</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 2pt; padding-left: 5.75pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>TOTAL</B></FONT></TD>
    <TD>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 2pt; border-bottom: Black 1.5pt double; text-align: right">10,165,694</P></TD>
    <TD>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 2pt; border-bottom: Black 1.5pt double; text-align: right">9,335,931</P></TD>
    <TD>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 2pt; border-bottom: Black 1.5pt double; text-align: right">8.9</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Operating revenue (expenses)</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Operating expenses increased 10.3% in the exercise
social closed on 12.31.21 , for R$ 7,155,909 thousand, of BRL 6,489,138 thousand in 2020, mainly due to the factors described below.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Expenses with sales </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">in the exercise social closed on 12.31.21 ,
selling expenses increased by R$858,383 thousand, or 15.1%, to R$6,531,413 thousand, compared to R$5,673,030 thousand in 2020, as a result
of rising freight costs and inflation. Selling expenses represented 13.5% of net revenue in 20 21, a decrease of 0.7 percentage points
compared to 14.2% in 2020 .</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>General and administrative expenses</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">THE General and administrative expenses decreased
by R$9,898 thousand, or 1.2% in the exercise social closed on 12.31.21 compared to the previous year. The decrease was mainly due to the
reduction in depreciation expenses in the period.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Other operating income, net (expenses)</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">in the exercise social closed on 12.31.21 ,
the Company had revenue under this heading of R$211,263 thousand compared to R$28,887 thousand in 2020, mainly as a result of the collective
action agreement expense ( <I>class action</I> ) recognized in 2020 in the amount of R$204,436 thousand, in addition to other effects
that can be evaluated in note 27 to the financial statements for the year ended on 12.31.21.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Profit prior to financial income</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Income before financial result increased by
R$162,994 thousand, or 5.7%, to R$3,009,787 thousand in the fiscal year closed on 12.31.21, compared to the result of R$2,846,793 thousand
in 2020.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Fiscal years ended December 31</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 64%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(<I>in thousands of R$</I>)</FONT></TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>2021</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>2020</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Brazil</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,583,899</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,081,150</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">International</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">942,006</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,100,212</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other Segments</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">393,477</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">197,233</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Subtotal</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>2,919,382</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>3,378,595</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>Empresas / Corporate</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">90,405</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(531,802)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>3,009,787</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>2,846,793</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Items not allocated to segments are presented
as Corporate and refer to material events not related to operating segments. In 2020, <I>corporate</I> includes collective action expense
( <I>class action</I> ) in the amount of R$204,436 thousand.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Net financial revenue (expenses)</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">in the exercise social closed on 12.31.21 ,
net financial expenses totaled R$3,044,575 thousand, representing an increase of 79.2% or R$1,345,580 thousand, compared to 2020, which
was R$ 1,698,995 thousand. This increase in net financial expenses is mainly a result of: (i) the negative impact of the measurement at fair
value of the put option granted by the Company to the Qatar Investment Authority to sell its interest in TBQ (owner of Banvit) to the
subsidiary BRF Foods GmbH , in the amount of R$858,564 thousand; and (ii) higher interest expenses, mainly due to the increase in IPCA
rates (10.06% in the year ended 12.31.21 compared to 4.52% for the year 2020).</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify"><B>Taxes on profits </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">in the exercise social closed on 12.31.21 ,
income taxes totaled revenue of R$552,102 thousand, representing an increase of 127.9% or R$309,831 thousand compared to revenue of R$242,271
thousand in 2020. The effective rate in 2021 was a revenue of 1,587.1% compared to the effective rate which represented an expense of
21.1% in 2020. This variation is mainly due to: (i) deferred tax assets from previous years recognized in 2021; (ii) the breakdown of
results of foreign subsidiaries that are taxed at different tax rates; (iii) the fact that the Company no longer taxed late payment interest
on tax undue payments, also recognizing assets from previous years, as presented in note 10 to the Consolidated Financial Statements in
2021.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Net income from continuing operations</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">in the exercise social closed on 12.31.21,
net income from continuing operations was R$517,314 thousand, representing a reduction of R$872,755 thousand compared to the profit of
R$1,390,069 thousand in the same period of the previous year, as a result of the factors described above.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Net loss of discontinued operations</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">in the exercise social closed on 12.31.21,
the net loss from discontinued operations was R$79,930 thousand compared to a null result in the same period of the previous year, due
to the completion in 2021 of the price adjustments related to the sale of Campo Austral S.A. and Avex S.A., carried out in 2019.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Net profit for the period</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">As a result of the above, a profit of R$437,384
thousand was recorded in the exercise social closed on 12.31.21 , compared to a profit of BRL 1,390,069 thousand in 2020.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Cash Flow</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 8.05pt; padding-bottom: 12pt; padding-left: 0.1in; text-align: justify; text-indent: -0.1in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>Fiscal years
    ended December 31</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 61%; padding-right: 8.05pt; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 22%; padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2021</B></P></TD>
    <TD STYLE="width: 17%; padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; border-bottom: Black 0.5pt solid; text-align: center"><B>2020</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 12pt; padding-left: 0.1in; text-align: justify; text-indent: -0.1in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(in thousands of reais)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Net cash provided by operating activities&#8317;1&#8318;</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,923,636 </FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5,839,169 </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Net cash invested in investing activities</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(3,548,791)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(1,430,989)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Net cash used in financing activities&#8317;1&#8318;</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">572,476</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(2,008,581)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Effect of exchange rate variation on cash and cash equivalents</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3pt; padding-bottom: 12pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">149,826 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">939,241</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-bottom: 2pt; padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Net increase (decrease) in the balance of cash and cash equivalents</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt double; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>(47,805)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt double; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>3,338,840</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">(1) As per Note 3 to the Consolidated Financial
Statements for the fiscal year ended 12.31.21, the Company changed the classification of interest payments in the cash flow statement,
reclassifying this amount from Operating Activities to Financing Activities. This change was made for a better presentation of the Company's
cash flows and harmonization with the reports used by management in its management. To ensure comparability between the periods presented,
the Company also reclassified the fiscal year ended in 2020.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Net cash generated from operating activities</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Net cash flows generated from operating activities
were recorded in the amount of R$3,923,636 thousand in 2021, compared to cash flows generated from operating activities of R$5,839,169
thousand in 2020. The decrease of R$1,915,533 thousand is mainly due to: (i) the higher allocation of funds to working capital items in
the amount of R$242,974 thousand; (ii) lower cash receipts related to derivative financial instruments in 2021 in the amount of R$657,218;
among other effects.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Net cash used in investment activities</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company recorded net cash flows invested
in investing activities in the amount of BRL 3,548,791 thousand in 2021, compared to net cash flows invested in investing activities of
BRL 1,430,989 thousand in 2020. The increase of R$2,117,802 thousand is mainly due to the increase in investments in fixed, intangible
and biological assets in the amount of R$1,067,792 thousand and the business combinations that took place in the period with Joody Al
Sharqiya Food Production Factory, Grupo Hercosul and Mogiana Alimentos S.A., in the amount of R$985,639 thousand net of acquired cash.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Net cash used in financing activities</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company recorded net cash flows invested
in financing activities in the amount of R$572,476 thousand in 2021, compared to net cash flows generated in financing activities of R$2,008,581
thousand in 2020. This variation is mainly due to an increase of R$1,422,461 in the amount of funds from debt issuance, net of amortizations,
in 2021 compared to 2020.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Liquidity and Capital Resources</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">On 12.31.21, the Company recorded R$7,528,820
thousand in cash and cash equivalents. Of this amount, R$2,888,024 thousand, or 38.36%, was held in jurisdictions outside Brazil. There
is a regular review of the value of cash and cash equivalents held outside Brazil to determine the amounts necessary to finance the current
operations of the foreign subsidiaries and their growth initiatives, as well as the amounts necessary to meet the Brazilian indebtedness
and related obligations of the Company. If these amounts are withdrawn from these jurisdictions or repatriated to Brazil, the Company
may be subject to Brazilian taxes on the repatriation. The main cash needs are debt service, capital expenditures related to expansion
and acquisition programs and the payment of dividends and interest on shareholders' equity. The main sources of cash have been cash flows
from operating activities, loans and other financing, in addition to sales of securities. Although the Company has substantial indebtedness
maturing in the coming years, it believes that current cash and cash equivalents, together with cash flows from operating activities and
plans to extend the maturity of a portion of current indebtedness, will be sufficient. to cover working capital needs and debt servicing
in the normal course of business.</P>


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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Comparison of positions as of December 31,
2021 and 2020 of balance sheet accounts </B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 43%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">( <I>In thousands of BRL, except when %</I> )</FONT></TD>
    <TD STYLE="width: 12%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.31.21 (1)</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>AV - % 12.31.21</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.31.20 (1)</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>%</B></P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>12.31.20</B></P></TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>Variation %</B></P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>2021 x 2020</B></P></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>ACTIVE</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>CURRENT</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Cash and cash equivalents</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7,528,820</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">13,50%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7,576,625</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">15.3 %</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-0.60%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Bonds and securities</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">346,855</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.60%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">314,158</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.6%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10.40%</FONT></TD></TR>

<TR>
    <TD STYLE="width: 43%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Bills receivable from customers and other receivables</FONT></TD>
    <TD STYLE="width: 12%; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,107,156</FONT></TD>
    <TD STYLE="width: 9%; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7.30%</FONT></TD>
    <TD STYLE="width: 11%; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,136,421</FONT></TD>
    <TD STYLE="width: 11%; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8,3%</FONT></TD>
    <TD STYLE="width: 14%; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">70%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Stocks</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9,654,870</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">17. 30%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,802,759</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">13.7%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">41.90%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Biological assets</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,899,921</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5.20%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,129,010</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.3%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">36.20%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Recoverable levies</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">976,133</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.70%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">899,120</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.8%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8.60%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Taxes recoverable on profit</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">71,762</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.10%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">43,840</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">63-70</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Derivative financial instruments</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">134,551</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.20%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">377,756</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.8%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-64.40%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted cash</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(24,963)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.00%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2496200.00%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Assets held for sale</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">16.628</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.00%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">186,025</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.4%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-91.10%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other current assets</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">481,464</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.90%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">446,269</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.9 %</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7.90%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total of current assets</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>26,243,123</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>46.90%</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">22,911,984</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">46.1%</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>14.50%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>NONCURRENT</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>NON CURRENT RECEIVABLES</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Bonds and securities</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">447,413</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.80%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">344,577</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.7%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">29.80%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Bills receivable from customers and other receivables</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">34,978</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.10%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">49.864</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">29-90</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Recoverable levies</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,780,096</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8.60%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,868,198</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9.8%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-1.80%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Taxes recoverable on profit</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">206,355</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.40%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">54,859</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">276.20%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Deferred taxes on profits</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,941,270</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5.30%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,109,064</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.2%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">39:50</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Legal deposits</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">550,319</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.00%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">553,341</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">.50%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Biological assets</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,414,482</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2.50%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,221,749</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2.5%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">15.80%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Derivative financial instruments</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10.804</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.00%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">234</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.00%</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4517.10%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted cash</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.00%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">24,357</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.00%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.00%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other non-current assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">76,757</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.10%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">82,123</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.2%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6.50-</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Long-term assets</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>10,462,475</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>18.70%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>9,308,366</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>18.7%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.40%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Investments</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7,113</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.00%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8,874</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-19.80%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Property, Plant &amp; Equipment</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">13,040,862</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">23.30%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12,215,580</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">24.6%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6.80%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Intangible assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,149,814</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">11.00%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5,220,102</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10,5%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">17.80%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total non-current assets</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>29,660,264</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>53.10%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>26,752,922</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>53.9%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>10/90</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>TOTAL ASSETS</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>55,903,387</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100.00%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">49,664,906</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">100,0%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12.60%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><SUP>(1)</SUP></B> Information extracted
from the Consolidated Financial Statements for the years ended December 31, 2021 and 2020.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Current assets</B></P>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Current assets totaled R$26,243,123 thousand
on 12.31.21 and R$22,911,984 thousand on 12.31.20, representing an increase of R$3,331,139 thousand, or 14.50%. On 12.31.21, current assets
represented 46.9% of total assets, compared to 46.1% in the previous year. The main effects are described below.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Cash and cash equivalents</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The heading of cash and cash equivalents showed
a reduction of R$47,805 thousand, or 0.6%, from R$7,576,625 thousand on 12/31/20 to R$7,528,820 thousand on 12/31/21, as a result of the
effects shown in &ldquo;Cash Flow&rdquo; section above this form.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Bills receivable from customers and other
receivables</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Accounts receivable from customers and other
receivables amounted to R$4,107,156 thousand on 12.31.21, showing a reduction of R$29,265 thousand, or 0.70%, in relation to 12.31.20,
which was R$4,136. 421 thousand. The variation is mainly due to the higher volume of assignment of receivables on 12.31.21.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Inventories</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Inventories increased from R$6,802,759 thousand
on 12.31.20 to R$9,654,870 thousand on 12.31.21, increasing by R$2,852,111 thousand, or 41.9%. The increase is mainly due to the increase
in the cost of grains and the inflation of other inputs in addition to the business combination with the companies Hercosul and Mogiana
..</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Biological Assets - Current</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The heading of biological assets increased
by R$770,911 thousand, or 36.2%, from R$2,129,010 thousand on 12/31/20 to R$2,899,921 thousand on 12/31/21. The increase is mainly due
to the increase in the cost of grains, which resulted in an increase in animal training costs.] [PG NOTE: Duplicate paragraph. See below.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Non-current assets</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Non-current assets totaled R$29,660,264 thousand
on 12.31.21 and R$26,752,922 thousand on 12.31.20, representing an increase of R$2,907,342 thousand, or 10.9% in 2021. The main effects
are described below.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Recoverable levies</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The item recoverable taxes decreased compared
to 12.31.20, from R$4,868,198 thousand to R$4,780,096 thousand on 12.31.21, a decrease of R$88,102 thousand, or 1.8%. This reduction is
mainly due to the relevant volume of federal tax offsets together with the assignment of ICMS credits, as shown in Note 9 to the Financial
Statements for the year ended 12.31.21.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Taxes deferred about profit</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Deferred taxes on income increased by R$832,206
thousand, or 39.5%, from R$2,109,064 thousand on 12.31.20 to R$2,941,270 thousand on 12.31.21. The increase is mainly due to the recognition
of the amount of R$1,025,000 thousand of deferred taxes on tax losses from previous years, net of other reductions referring to temporary
differences, as per explanatory note 10 to the Financial Statements for the year ended on 12.31.21 .</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Biological Assets &ndash; Non-Current</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The heading of biological assets increased
by R$192,733 thousand, or 15.8%, from R$1,221,749 thousand on 12/31/20 to R$1,414,482 thousand on 12/31/21. The increase is mainly due
to the increase in the cost of grains, which resulted in an increase in animal costs.</P>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="vertical-align: top; width: 41%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(<I>In thousands of BRL, except when %</I>)</FONT></TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.31.21 (1)</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>AV - % 12.31.21</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.31.20 (1)</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: Black 1pt solid">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>%</B></P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>12.31.20</B></P></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>Variation %</B></P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>2021 x 2020</B></P></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>LIABILITIES</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>CURRENT</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Loans and financing</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,203,068</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5.7%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,059,984</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">202.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Suppliers</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">11,701,996</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">20.9%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8,996,206</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">30.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Suppliers drawn risk</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,237,975</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,452,637</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2.9%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">54.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Lease liability</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">471,956</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.8%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">383,162</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.8%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">23.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Salaries, social obligations and participations</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">900,394</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.6%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">940,816</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.9%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-4.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Tax liabilities</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">454,038</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.8%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">395,630</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.8%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">14.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Derivative financial instruments</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">327,443</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.6%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">384,969</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.8%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-14.-9</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Provision for tax, civil and labor risks</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">959,132</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.7%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">865,338</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.7%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Benefits to employees</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">54,354</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">125,230</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.3%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-56.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Liabilities directly associated with assets held for sale</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">21,718</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other current liabilities</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">914,933</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.6%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">814,638</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.6%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total current liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>21,225,289</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>38.0%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>15,440,328</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>31.1%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>37.5%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>NONCURRENT</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Loans and financing</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">22,252,962</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">39.8%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">21,344,442</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">43.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Suppliers</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12,628</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">13,781</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-8,4%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Lease liability</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,007,290</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3.6%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,153,519</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.3%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-6.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Tax liabilities</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">132,195</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.2%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">141,252</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.3%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-6.4%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Provision for tax, civil and labor risks</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">558,500</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">837,382</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.7%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-33.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Deferred taxes on profits</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">23,710</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">26,527</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-10.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Benefits to employees</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">498,231</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.9 %</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">651,325</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.3%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-23.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Derivative financial instruments</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">41,861</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">727</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5658</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other non-current liabilities</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">325,098</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.6%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">242,089</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.5%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">34.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total non-current liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>25,852,475</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>46.2%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>25,411,044</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>51.2%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>1.7%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>NET WORTH</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Capital stock</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12,460,471</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">22-3.</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12,460,471</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">25.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Capital reserves</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">141,834</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.3%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">141,834</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.3%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other equity transactions</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-67,531</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-0.1%</FONT></TD>
    <TD>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right">246</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: right">&nbsp;</P></TD>
    <TD>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right">0.0%</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: right">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-27551.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Accumulated losses</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-2,132,230</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-3.8%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(2,594,028)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-5.2%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-17.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Treasury shares</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-127,286</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-0.2%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(123,938)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-0.2%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2.7%</FONT></TD></TR>

<TR>
    <TD STYLE="vertical-align: top; width: 41%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other comprehensive results</FONT></TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-1,812,726</FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-3.2%</FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(1,298,801)</FONT></TD>
    <TD STYLE="width: 12%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-2.6%</FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">39,6%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Attributed to controlling shareholders</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>8,462,532</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>15.1%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8,585,784</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">17,3%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-1.4%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Assigned to Noncontrolling Shareholders</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">363,091</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.6%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">227,750</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.5%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">59.4%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Total net equity</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8,825,623</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">15.8%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8,813,534</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">17.7%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>TOTAL LIABILITIES AND SHAREHOLDERS&rsquo; EQUITY</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>55,903,387</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100,0%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">49,664,906</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">100,0%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12.6%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><SUP>(1)</SUP></B> Information extracted
from the Consolidated Financial Statements for the fiscal years ended on December 31, 2021 and 2020.</P>
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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>


<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Current liabilities</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Current liabilities totaled R$21,225,289 thousand
on 12/31/21 and R$15,440,328 thousand on 12/31/20, representing an increase of R$5,784,961 thousand, or 37.5%. On 12.31.21, current assets
represented 38.0% of total liabilities and shareholders' equity, compared to 31.1% on 12.31.20. The main effects are described below.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Loans and Financing</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The current component of loans and financing
totaled R$3,203,068 thousand on 12.31.21 and R$1,059,984 thousand on 12.31.20, representing an increase of R$2,143,084 thousand, or 202.2%.
This increase is mainly due to the reclassification of <I>senior notes</I> due in 2022 for current liabilities, in addition to the effect
of the exchange devaluation on liabilities in foreign currencies, cycle of appropriation and interest payments on indebtedness and reclassification
of balances of non-current liabilities.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Suppliers and Suppliers withdrawn risk</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The total balance of suppliers and risk suppliers
withdrawn totaled R$13,939,971 thousand on 12/31/21, while on 12/31/20 the balance was R$10,448,843 thousand, representing an increase
of 33.4%, or R$3,491,128 thousand . This growth is mainly due to of the increase in the balance payable for the purchase of <I>commodities</I>
, due to longer terms and higher costs.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Provision for tax, civil and labor risks</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's current component of Provision
for tax, civil and labor risks was R$959,132 thousand on 12/31/21 and R$865,338 thousand on 12/31/20, representing an increase of R$93,794
thousand, or 10.8%. This increase is due to the reclassification of non-current liabilities to current liabilities.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Non-current liabilities</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Non-current liabilities totaled R$25,852,475
thousand on 12/31/21 and R$25,411,044 thousand on 12/31/20, representing an increase of R$441,431 thousand, or 1.7%. The main effects
are described below.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Loans and Financing</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Non-current loans and financing totaled R$22,252,962
thousand on 12.31.21 and R$21,344,442 thousand on 12.31.20, representing an increase of R$908,520 thousand, or 4.3%, mainly due to the
exchange rate devaluation in the period (increasing balances in foreign currency, mainly US dollars) and the issuance of debentures,
net of reclassifications to current liabilities and anticipation and repurchases of other non-current loans.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Lease liabilities</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Non-current lease liabilities amounted to R$2,007,290
thousand on 12/31/21 and R$2,153,519 thousand on 12/31/20, representing a reduction of R$146,229 thousand, or 6.8%, mainly due to write-offs
carried out in the period and variation exchange rate on balances in foreign currency.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Provision for tax, civil and labor risks</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The non-current component of the Company's
Provision for tax, civil and labor risks was R$558,500 thousand on 12/31/21 and R$837,382 thousand on 12/31/20, representing a reduction
of R$278,882 thousand, or 33.3%. This reduction is due to the reclassification of non-current liabilities to current liabilities and the
reversal of provisions related to the Tax War, recognized in the business combination with Sadia, as per explanatory note 9 to the Financial
Statements for the fiscal year ended on 12.31.21.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Benefits to employees</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Liabilities for employee benefits totaled R$498,231
thousand on 12.31.21 and R$651,325 thousand on 12.31.20, representing a reduction of R$153,094 thousand, or 23.5%, mainly due to changes
in interest rates, actuarial assumptions and plans of Company benefits.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Other non-current liabilities</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The balance of other non-current liabilities
totaled R$325,098 thousand on 12/31/21, while on 12/31/20 the balance was R$242,089 thousand, representing an increase of 34.3%, or R$83,009
thousand. The increase is mainly due to the recognition of future installments of the acquisitions of Hercosul and Mogiana (note 1.2 to
the Financial Statements for the fiscal year ended 12.31.21), net of the derecognition of the put option launched in the scope of a business
combination (note 1.1. 3 to the Financial Statements for the fiscal year ended on 12.31.21).</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Net equity</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Shareholders' equity was R$8,825,623 thousand
on 12.31.21 and R$8,813,534 thousand on 12.31.21. There was an increase of R$12,089 thousand, or 0.1%, mainly due to the net income recorded
for the year, net of exchange rate losses recognized in Other Comprehensive Income.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Fiscal year ended December 31, 2020 compared
to fiscal year ended December 31, 2019</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">The following table presents audited financial
information for the fiscal years ended December 31, 2020 and December 31, 2019.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">The results and cash flows of discontinued operations
are presented separately from the results of the Company's continuing operations.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In section 10.3, &ldquo; <I>Events with material
effects, occurred and expected, on the financial statements</I> &rdquo;, shows the results of discontinued operations.</P>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 44%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">( <I>In thousands of BRL, except when %</I> )</FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.31.20 (1)</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>AV-% 12.31.20 (2)</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.31.19 (1)</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>%</B></P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>12.31.19 (2)</B></P></TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>Variation %</B></P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>2020 x 2019</B></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>CONTINUING OPERATIONS</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>NET REVENUE</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">39,469,700</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">100,0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">33,446,980</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">100,0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18.0%</FONT></TD></TR>

<TR>
    <TD STYLE="vertical-align: top; width: 44%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Cost of goods sold</FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(30,133,769)</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-76.3%</FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(25. 490,912)</FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-76.2%</FONT></TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>GROSS PROFIT</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>9. 335,931</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">23.7%</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>7,956,068 </B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">23.8%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">17,3%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>OPERATING INCOME (EXPENSES)</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Sales</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(5. 673,030 )</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-14,4%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(4. 991,145 )</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-14,9%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">13,7%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">General and administrative</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(832,858)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-2,1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(685,089)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-2.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">21.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Loss through impairment of accounts receivable</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(12,137)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(23,899)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-0.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-49.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other operating income, net (expenses)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">28,887 </FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">698,575 </FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">- 95. %</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Equity method</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(1,737)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-100.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>PROFIT BEFORE FINANCIAL REVENUE</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,846,793</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7.2%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,952,773</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8.8%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-3.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Financial expenses</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(1,889,454)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-4.8%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(3,096,716)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-9.3%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-39.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Financial incomes</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">420,757</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,304,187</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3.90%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-67.7%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Inflation adjustments and exchange rate changes</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(230,298)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-0.6%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(72,870)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-0.20%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">216%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Net financial revenues (expenses)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>(1,698,995)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-4.3%</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>(1,865,399)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-5,6%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-8.9%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Profit before taxes on profit</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,147,798</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2.9%</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,087,374</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3.3%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Taxes on profits</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">242,271</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.6%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">125,887</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.4%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">92.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>NET INCOME FROM CONTINUING OPERATIONS</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,390,069</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3.5%</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,213,261</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3.6%</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">14.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>NET LOSS FROM DISCONTINUED OPERATIONS</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(915,809)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-2.7%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-100.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>NET INCOME FOR THE YEAR</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,390,069</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3.5%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">297,452</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.9 %</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">367.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Net Income Continuing Operations Attributable to</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Controlling shareholders</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,383,564</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3.5%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,202,240</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3.6%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">15.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Non-controlling interest</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,505</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">11,021</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-41.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,390,069</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3.5%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,213,261</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3.6%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">14.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Net Income Discontinued Operations Attributable to</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Controlling shareholders</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(904,628)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-2.7%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Non-controlling interest</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">11,181</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(915,809)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-2.7%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><SUP>(1)</SUP></B> Information extracted
from the Consolidated Financial Statements for the fiscal year ended on December 31, 2020 and from the Consolidated Financial Statements
for the fiscal year ended on December 31, 2019.</P>

<P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><SUP>(2)</SUP></B> Representativeness in
relation to Net Revenue.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Net Income</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 64%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">( <I>In thousands of BRL, except when %</I> )</FONT></TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.31.20</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.31.19</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Net revenue</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Brazil</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">In natura</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5,014,250</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,635,597</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Poultry</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,738,560</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,692,377</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">swine and others</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,275,690</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">943,220</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Processing</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">15,944,162</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12,808,408</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other sales</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">26,707</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">45,474</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">20,985,119</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">17,489,479</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>International</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">In natura</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">14,570,620</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12,605,846</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Poultry</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12,246,499</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">11,262,954</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">swine and others</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,324,121</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,342,892</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Processing</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,366,204</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,119,918</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other sales</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">303,370</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">173,630</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">17,240,194</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">14,899,394</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Other Segments</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Others</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,244,387</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,058,107</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>39,469,700</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>33,446,980</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's consolidated net revenue increased
by R$ 6,022,720 thousand, or 18.0%, from R$33,446,980 thousand in 2019 to BRL 39,469,700 thousand in 2020, mainly due to:</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">1. <U>Brazil</U> &ndash; Net revenue increased
by R$3,495,640 thousand, or 20.0%, from R$17,489,479 thousand in 2019 to R$20,985,119 thousand in 2020. Such an increase is arising from
investments in the Company's brands, expansion of the portfolio of products with high added value, growth in its operations in new channels
and strengthening of those in which the Company was already present, in addition to improving the level of services to its customers.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">2. <U>International</U> &ndash; Net revenue
increased by R$2,340,800 thousand, or 15.7%, from R$14,899,394 thousand in 2019 to R$17,240,194 thousand in 2020. The main factors were:
(i) increase in the share of high value-added products; (ii) increase in the number of qualifications, aiming to leverage the markets
in which the Company operates, as well as new geographies and products ; (iii) higher demand in the Asian market, due to African Swine
Fever; and (iv) the devaluation of the real <I>versus</I> the dollar, which favored prices in reais.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">3. <U>Other segments</U> &ndash; In 2020, net
revenue increased by R$186,280 thousand, or 17.6%, from R$1,058,107 thousand in 2019 to R$1,244,387 thousand in 2020, mainly due to at
the best prices practiced in the BRF Ingredients businesses and higher volumes sold in the <I>Global Desk</I> of the Company <I>.</I></P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Cost of goods sold</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2020, the cost of goods sold totaled R$30,133,769
thousand, an increase of 18.2% or R$4,642,857 thousand compared to 2019, which was R$25,490,912 thousand. This increase is reflection
of the average increase in grain prices, as well as the exchange rate devaluation that impacted the costs of acquiring inputs and supplies
..</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Gross profit</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2020, gross profit totaled R$9,335,931 thousand,
an increase of 17.3%, or R$1,3793,863 thousand, compared to 2019, which was R$7,956,068 thousand, for the reasons listed above. Gross
margin remained stable, from 23.8% in 2019 to 23.7% in 2020, due to better operating results in both the Brazil and International segments.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Operating revenue (expenses) </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2020, operating expenses increased by R$817,892
thousand, or 14.3%, as a result of: (i) expenses related to preventing and combating the effects of Covid-19 on operations; (ii) higher
expenses denominated in reais, in the international market, due to the exchange rate devaluation; and (iii) freight expenses in Brazil,
given the higher supply and demand for trucks. In relative terms, operating expenses represented 16.5% of net revenue in 2020, compared
to 17.0% in 2019, result of a stricter control of expenses in the period .</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Other operating income, net (expenses)</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2020, the Company had revenue in this item
equivalent to R$28,887 thousand, representing a decrease of R$669,688 thousand compared to revenue of R$698,575 thousand in 2019. In 2019,
the revenue was mainly due to gains from lawsuits related to the exclusion of ICMS from the PIS/COFINS calculation basis (explanatory
note 9.2 to the financial statements as of December 31, 2020).</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Equity method</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2020, the Company did not record equity
income, and in 2019, the equity result totaled a negative amount of R$1,737 thousand. This variation occurred due to the sale of the interest
in the affiliate SATS BRF Food in Singapore in 2019.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Profit prior to financial income</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2020, as a result of the effects highlighted
above, profit before financial result was R$2,846,793 thousand, representing a reduction of R$105,980 thousand compared to 2019. The table
below shows the operating result by segment.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 64%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(<I>in thousands of R$</I>)</FONT></TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.31.20</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.31.19</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Brazil</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,081,150</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,818,813</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">International</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,100,212</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,275,285</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other Segments</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">197,233</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">109,138</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Subtotal</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>3,378,595</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>3,203,236</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><I>Empresas / Corporate</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(531,802)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(250,463)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,846,793</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,952,773</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Items not allocated to segments are presented
as Corporate and refer to material events not related to operating segments.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Net financial revenues (expenses)</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">In 2020, net financial expenses totaled R$1,698,995
thousand, representing a decrease of 8.9% or R$166,404 thousand, compared to 2019, which was R$1,865,399 thousand, mainly due to: (i)
total positive impact of the put option measurement related to the business combination (<I>put option</I> Banvit), which was R$579,946
thousand, and (ii) lower net charges on obligations and rights.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Taxes on profits</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2020, income taxes totaled a revenue of
R$242,271 thousand, representing an increase of 92.5% or R$116,384 thousand compared to 2019. The effective rate in 2020 was (21.1%) compared
to the effective rate of (11.6%) in 2019. This variation was mainly due to the effects of differences in rates on the results of subsidiaries
abroad, effects of exchange rate variation on subsidiaries with different functional currencies and the non-recognition of part of the
deferred tax on tax losses and negative basis of social contribution in 2020.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Net profit for the year</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2020, the total profit from continuing operations
was R$1,390,069 thousand, representing an increase of R$176,808 thousand compared to 2019, which was R$1,213,261 thousand. In 2019, considering
discontinued operations, net income was R$297,452 thousand compared to R$1,390,069 thousand in 2020.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Comparison of positions as of December 31,
2020 and December 31, 2019 of the balance sheet accounts</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 34%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(<I>In thousands of BRL, except when %</I>)</FONT></TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.31.20 (1)</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>AV - % 12.31.20</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.31.19 (1)</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: Black 1pt solid">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>%</B></P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>12.31.19</B></P></TD>
    <TD STYLE="width: 16%; border-bottom: Black 1pt solid">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>Variation %</B></P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>2020 x 2019</B></P></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>ACTIVE</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>CURRENT</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Cash and cash equivalents</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7,576,625</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">15.3 %</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,237,785</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10.2%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">78.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Bonds and securities</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">314,158</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.6%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">418,182</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-24.9%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Bills receivable from customers and other receivables</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,136,421</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8,3%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,090,691</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7.4%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">33.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Stocks</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,802,759</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">13.7%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,887,916</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9.3%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">75.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Biological assets</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,129,010</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.3%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,603,039</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3.8%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">32.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Recoverable levies</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">899,120</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.8%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">473,732</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">89.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Taxes recoverable on profit</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">43,840</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">152,486</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.4%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-71.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Derivative financial instruments</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">377,756</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.8%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">195,324</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.5%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">93.4%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted cash</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">296,294</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.7%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-100.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Assets held for sale</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">186,025</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.4%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">99,245</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.2%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">87.4%</FONT></TD></TR>

<TR>
    <TD STYLE="width: 34%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other current assets</FONT></TD>
    <TD STYLE="width: 14%; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">446,269</FONT></TD>
    <TD STYLE="width: 10%; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.9 %</FONT></TD>
    <TD STYLE="width: 13%; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">590,733</FONT></TD>
    <TD STYLE="width: 13%; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.4%</FONT></TD>
    <TD STYLE="width: 16%; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-24.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Total of current assets</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">22,911,984</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">46.1%</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">15,045,427</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">36.1%</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">52.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>NONCURRENT</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>NON CURRENT RECEIVABLES</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Bonds and securities</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">344,577</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.7%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">307,352</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.7%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Bills receivable from customers and other receivables</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">49.864</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">71,029</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.2%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-29.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Recoverable levies</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,868,198</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9.8%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5,169,547</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12.4%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-5.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Taxes recoverable on profit</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">54,859</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">269,263</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.6%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-79.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Deferred taxes on profits</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,109,064</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.2%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,845,862</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,4%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">14.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Legal deposits</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">553,341</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">575,750</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.4%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-3,9%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Biological assets</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,221,749</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2.5%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,081,025</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2.6%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">13.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Derivative financial instruments</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">234</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.00%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">49,991</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-99.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted cash</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">24,357</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.00%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other non-current assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">82,123</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.2%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">85,537</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.2%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-4,0%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Long-term assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9,308,366</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18.7%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9,455,356</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">22.7%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-1.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Investments</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8,874</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(14,880)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-40.4%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Property, Plant &amp; Equipment</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12,215,580</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">24.6%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12,276,889</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">29.4%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-0.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Intangible assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5,220,102</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10,5%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,908,079</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">11.8%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6.4%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Total non-current assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">26,752,922</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">53.9%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">26,655,204</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">63.9%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.4%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>TOTAL ASSETS</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">49,664,906</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">100,0%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">41,700,631</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">100,0%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">19.1%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><SUP>(1)</SUP></B> Information extracted
from the Consolidated Financial Statements for the fiscal year ended on December 31, 2020 and from the Consolidated Financial Statements
for the fiscal year ended on December 31, 2019.</P>
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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>


<P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Current assets</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Current assets amounted to R$22,911,984 thousand
on December 31, 2020 and R$15,045,427 thousand on December 31, 2019, representing an increase of R$7,866,557 thousand, or 52.3%. As of
December 31, 2020, current assets represented 46.1% of total assets, compared to 36.1% in the previous year. The main effects are described
below.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Cash and cash equivalents</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The cash and cash equivalents item increased
by R$3,338,840 thousand, or 78.8%, from R$4,237,785 thousand on December 31, 2019 to R$7,576,625 thousand on December 31, 2020, mainly
as a result of the strategy of increasing liquidity in the face of uncertainties and high volatilities in market and operational risks.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Bills receivable from customers and other
receivables</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Accounts receivable from customers and other
receivables amounted to R$4,136,421 thousand on December 31, 2020, an increase of R$1,045,730 thousand, or 33.8%, compared to December
31, 2019, the which was R$3,090,691 thousand. The variation is mainly due to the lower volume of receivables assignment to FIDC BRF on
December 31, 2020 and the exchange devaluation of the real on receivables in foreign currencies.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Inventories</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Inventories increased from R$3,887,916 thousand
on December 31, 2019 to R$6,802,759 thousand on December 31, 2020, increasing by R$2,914,843 thousand, or 75.0%. The increase is mainly
due to the strategic decision to raise stock levels, especially of raw materials, in anticipation of the rise in the cost of grains.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Non-current assets</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Non-current assets amounted to R$26,752,922
thousand on December 31, 2020 and R$26,655,204 thousand on December 31, 2019, representing an increase of R$97,718 thousand, or 0.4%.
The main effects are described below.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Recoverable taxes</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The item recoverable taxes decreased compared
to December 31, 2019, from R$5,169,547 thousand to R$4,868,198 thousand on December 31, 2020, representing a decrease of R$301,349 thousand,
or 5.8%. The main effects causing this reduction are: (i) the increase in tax offsets in general; and (ii) transfers of recoverable IPI
balances to Other Current and Non-Current Assets items, as a result of the issuance of precatories by the Federal Government.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Taxes deferred about profit</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The heading of deferred income taxes increased
by R$263,202 thousand, or 14.3%, from R$1,845,862 thousand on December 31, 2019 to R$2,109,064 thousand on December 31, 2020. The increase
is mainly due to the constitution of deferred tax assets on tax losses in 2020.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Biological assets</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The heading of biological assets increased
by R$140,724 thousand, or 13.0%, from R$1,081,025 thousand on December 31, 2019 to R$1,221,749 thousand on December 31, 2020. The increase
is due to the Company's regular operating cycle and the increase in animal training costs.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 37%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">( <I>In thousands of BRL, except when %</I> )</FONT></TD>
    <TD STYLE="width: 13%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.31.20 (1)</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>AV - % 12.31.20</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>12.31.19 (1)</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: Black 1pt solid">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>%</B></P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>12.31.19</B></P></TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>Variation %</B></P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>2020 x 2019</B></P></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>LIABILITIES</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>CURRENT</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Loans and financing</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,059,984</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,132,029</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7.5%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-66.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Suppliers</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8,996,206</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5,784,419</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">13.9%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">55.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Suppliers drawn risk</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,452,637</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2.9%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">842,037</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">72.5%</FONT></TD></TR>

<TR>
    <TD STYLE="vertical-align: top; width: 37%; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Lease liability</FONT></TD>
    <TD STYLE="width: 13%; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">383,162</FONT></TD>
    <TD STYLE="width: 10%; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.8%</FONT></TD>
    <TD STYLE="width: 12%; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">376,628</FONT></TD>
    <TD STYLE="vertical-align: top; width: 13%; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.9 %</FONT></TD>
    <TD STYLE="width: 15%; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.7%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Salaries, social obligations and participations</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">940,816</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.9%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">825,254</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">14,0%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Tax liabilities</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">395,630</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.8%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">517,208</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.2%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-23.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Derivative financial instruments</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">384,969</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.8%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">153,612</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.4%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">150.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Provision for tax, civil and labor risks</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">865,338</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.7%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,084,308</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2.6%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-20.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Benefits to employees</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">125,230</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.3%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">95,919</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.2%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">30.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Liabilities directly associated with assets held for sale</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">21,718</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other current liabilities</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">814,638</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.6%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">512,591</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.2%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">58.9%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Total current liabilities</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">15,440,328</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">31.1%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">13,324,005</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">32.0%</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">15.9%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>NONCURRENT</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Loans and financing</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">21,344,442</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">43.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">15,488,250</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">37.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">37.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Suppliers</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">13,781</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12.347</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">11.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Lease liability</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,153,519</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.3%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2,054,552</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.9%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4,8%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Tax liabilities</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">141,252</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.3%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">190,257</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.5%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">25 &plusmn; 8</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Provision for tax, civil and labor risks</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">837,382</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.7%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">710,061</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.7%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">17.9%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Deferred income taxes</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">26,527</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">85,310</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.2%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-68.9%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Benefits to employees</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">651,325</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.3%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">593,555</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.4%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9.7%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Derivative financial instruments</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">727</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">24133.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other non-current liabilities</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">242,089</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.5%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,093,942</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2.6%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-77.9%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Total non-current liabilities</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">25,411,044</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">51.2%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">20,228,277</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">48.5%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">25.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>NET WORTH</B></FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Capital stock</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12,460,471</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">25.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12,460,471</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">29,9%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Capital reserves</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">141,834</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.3%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">141,834</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.3%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other equity transactions</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">246</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.0%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">51,011</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-99.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Accumulated losses</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(2,594,028)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-5.2%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(3,996,985)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-9.6%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-35.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Treasury shares</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(123,938)</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-0.2%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(38,239)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-0.1%</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">224.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Other comprehensive results</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(1,298,801)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-2.6%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">(722,469)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-1.7%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">79.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Shareholders' equity</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8,585,784</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">17,3%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7,895,623</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18.9%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8.7%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Interest of non-controlling companies</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">227,750</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.5%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">252,726</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.6%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-9.9%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Total equity</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8,813,534</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">17.7%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8,148,349</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">19.5%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>TOTAL LIABILITIES AND SHAREHOLDERS&rsquo; EQUITY</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">49,664,906</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">100,0%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">41,700,631</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">100,0%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 12pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">19.1%</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><SUP>(1)</SUP></B> Information extracted
from the Consolidated Financial Statements for the fiscal year ended on December 31, 2020 and from the Consolidated Financial Statements
for the fiscal year ended on December 31, 2019.</P>

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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Current liabilities</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Current liabilities totaled R$15,440,328 thousand
on December 31, 2020 and R$13,324,005 thousand on December 31, 2019, representing an increase of R$2,116,323 thousand, or 15.9%. As of
December 31, 2020, current assets represented 31.1% of total liabilities and shareholders' equity, compared to 32.0% in the previous year.
The main effects are described below.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Loans and Financing</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The current component of loans and financing
totaled R$1,059,984 thousand on December 31, 2020 and R$3,132,029 thousand on December 31, 2019, representing a reduction of R$2,072,045
thousand, or 66.2%. This reduction is mainly due to the extension of the average term of loans and financing throughout 2020.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Suppliers and Suppliers withdrawn risk</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The total balance of suppliers and risk suppliers
withdrawn totaled R$10,448,843 thousand on December 31, 2020, while on December 31, 2019 the balance was R$6,626,456 thousand, representing
an increase of 57.7%, or R$ $3,822,387 thousand. This growth is mainly due to the increase in the working days of suppliers combined with
the strategy of increasing inventories.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Provision for tax, civil and labor risks</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The current component of the Provision for
tax, civil and labor risks of the Company was R$865,338 thousand on December 31, 2020 and R$1,084,308 thousand on December 31, 2019, representing
a reduction of R$218,970 thousand, or 20.2 %. This reduction was mainly due to the settlement of liabilities related to ICMS Basic Basket
processes and the reduction of provisions due to amnesties obtained from the states.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Non-current liabilities</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Non-current liabilities amounted to R$25,411,044
thousand on December 31, 2020 and R$20,228,277 thousand on December 31, 2019, representing an increase of R$5,182,767 thousand, or 25.6%.
The main effects are described below.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Loans and Financing</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Long-term loans and financing totaled R$21,344,442
thousand on December 31, 2020 and R$15,488,250 thousand on December 31, 2019, representing an increase of R$5,856,192 thousand, or 37.8%.
This increase is mainly due to the effect of the exchange rate devaluation on liabilities in foreign currencies, in addition to the execution
of the Company's strategy of increasing liquidity.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Other non-current liabilities</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The balance of other non-current liabilities
totaled R$242,089 thousand on December 31, 2020, while on December 31, 2019 the balance was R$1,093,942 thousand, representing a reduction
of 77.9%, or R$851,853 thousand. The reduction is mainly due to the subsequent measurement of the option launched in business combinations
(explanatory note 24.8.1 to the 2020 financial statements) and its reclassification to current liabilities.</P>

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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Net equity</I></B></P>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Shareholders' equity was R$8,813,534 thousand
on December 31, 2020 and R$8,148,349 thousand on December 31, 2019. There was an increase of R$665,185 thousand, or 8.2%, mainly due to
the income earned in the period, partially offset by the effect of other comprehensive income arising from the exchange rate on operations
designated for accounting for <I>hedge</I> .</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>10.2 - Operating and Financial Income </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The following information was evaluated and
commented on by the Company's Officers:</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(a) Results from the issuer's operations</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(i) Description of any important revenue
components</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The following is a breakdown of the products
of the Company sold in Brazil and to international customers:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>Meat-based products</I></B>
, consisting of meat <I>in natura</I> chilled and/or frozen, which we define as whole and cut chicken, pork and beef cuts; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>Processed Food Products</I></B>
, including the following: </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">Whole and cut chickens, frozen,
marinated (sold under the brand name <I>Chester</I> <SUP>&reg;</SUP> ) and turkeys; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">Specialty meats such as sausages,
ham products, bologna, sausages <I>frankfurter,</I> salami, bacon and other smoked products; and </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">Frozen processed meats, such
as hamburgers, <I>steaks</I> , breaded, kibes and meatballs; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>Other Processed Products</I></B>
, including the following: </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">Margarine, Butter and Cottage
Cheese;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">Frozen prepared main dishes,
such as lasagna, pizza and desserts, as well as other frozen foods; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">Plant-based products, including
the entire range <I>plant-based</I> ; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">Frozen Desserts </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>Others</I></B> , consisting
of soybean meal, refined soybean meal, natural scent and animal feed. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(ii) factors that significantly affect operating
results.</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's operating results, financial
condition and liquidity have been and will continue to be influenced by a wide range of factors, including:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">Economic conditions in Brazil
and abroad; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">Geopolitical Conditions in Brazil
and Strategic Markets;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">Concerns related to COVID-19,
African Swine Fever (ASF), avian influenza and other diseases of human and animal origin; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">The effect of trade barriers
and other import restrictions; </FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">The sensitivity of the domestic
market to changes in global demand, including the effect of actions by major Brazilian competitors and temporary increases in supply from
producers in other countries; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">Regulatory changes that have
adverse impacts on the Company's activities, arising from legislative changes, executive power decrees, regulations and terms of commitment
signed with the Public Ministry, among others;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">Changes in prices of <I>commodities</I>
; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">Fluctuations in exchange rate
and inflation; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">interest rates;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">Freight Costs </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Seasonal factors and volatility that affect
both raw material prices and sales prices could materially affect the Company's results.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's production cost is mainly dependent
on the price and supply of corn and soybean meal. Among other raw materials, there are soy in grains, pork and cattle, for example. The
selling prices of the Company's products are determined by constant changes in supply and demand that may fluctuate significantly, in
addition to other external factors that the Company cannot control, such as fluctuations in the levels of global domestic production of
poultry, pork and beef. , changes in environmental regulations, changes in economic conditions, weather conditions, diseases in animals
and crops, and costs linked to exchange rates. Additionally, prices of key raw materials, including corn, soybean meal and soybeans (in
grain), are being affected by the US-China trade dispute. There is no certainty about the resolution horizon, as well as the long-term
effects on global economic and political conditions. Any change in the price or availability of raw materials required for the production
of products of the Company caused by these or other factors may impact the Company.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The economic sector in which the Company operates
is also characterized by cyclical periods, where prices and profitability fluctuate as a result of supply and demand levels. There is
no certainty that the Company will be able to adequately adapt to cyclical periods or volatility, which may have adverse effects on operations
or financial results. of the Company .</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Natural disasters, pandemics or extreme weather
variations, including floods, droughts, excessive heat or cold, hurricanes or other storms, as well as any disruption to plants of the
Company that require temporary relocation of functions to other facilities may impair the growth and health of live animals or interfere
with their operations due to power outages, damage to production and processing facilities, or disruption of channels or information systems
of the Company . The outbreak of COVID-19 (&ldquo;<U>Coronavirus</U>&rdquo;), which originated in China in late 2019 and declared a global
pandemic by the World Health Organization on March 11, 2020, could adversely affect the Company&rsquo;s business and operations, including
to the extent that estimated product deliveries may be substantially delayed either as a result of the further spread of the virus or
as a result of preventive measures implemented by governments or companies to limit the spread of the same. In addition, the Company's
operations include global production and distribution facilities and, in the event of an outbreak of Coronavirus at its facilities or
in the communities where the Company operates and distributes its products, its distribution, operation, employees, suppliers, consumers
and distribution channels could be severely affected. Said pandemic may also have an adverse impact on consumer demand, commodity prices,
the economy and financial markets of several countries, resulting in an economic downturn that may affect demand for the Company's products
and cause a material adverse effect on the result of its operations. For more information on the risks and preventive measures adopted
by the Company, see item 5.6 - Other relevant information and 10.9 - Other factors with relevant influence - &quot;<I>Analysis of the
impacts of COVID-19 on the Company's activities</I> &rdquo; of this Reference Form, as well as in the risk factor contained in item 4.1
of this Reference Form, entitled &quot; <I>Pandemics
or outbreaks of human diseases, such as the novel coronavirus (COVID-19), can cause changes in consumption and trade patterns, supply
chains and production processes, as well as disruptions in production and product shipments, which could significantly harm the Company's
operations and results of operations</I> &quot;.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Below, we present more details about these
factors:</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>World and Brazilian economic situation </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The National Monetary Council set the inflation
target in Brazil at 3.75% for 2021, with a possible variation of 1.5 percentage points up or down. The inflation rate, which was above
target at 4.31% and 4.52% in 2019 and 2020, respectively, increased to 10.06% as of December 31, 2021. Price increases generally reduce
the purchasing power of consumers, especially among the lower income classes, and end up limiting consumption. The Brazilian labor market
recorded an average unemployment rate of 11.6%% on December 31, 2021, according to the IBGE's National Household Sample Survey (&quot;PNAD&quot;),
which represents a slight improvement when compared to 13, 9% in 2020. In addition, after falling to 78.5% in December 2020, Brazilian
consumer confidence dropped to 75.5% on December 31, 2021, according to the Consumer Research of Funda&ccedil;&atilde;o Get&uacute;lio
Vargas (FGV).</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Brazil's real GDP increased at an average annual
rate of 9.0% from 2005 to 2020. After increasing by 0.5% in 2014, Brazilian GDP decreased by 3.5% for two consecutive years, in 2015 and
in 2016. As of December 31, 2021, GDP growth is projected to be 4.5% year-on-year, according to the Focus Bulletin, published by the Central
Bank of Brazil. Reacting to this weak economic situation, the Central Bank reduced the SELIC rate, the basic short-term interest rate.
Overall, the long-term trend in interest rates continues to decline, from 18% as of December 31, 2005 to 9.25% on December 31, 2021.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The real depreciated 6.88% against the US dollar
in 2021, from R$5.20 per US$1.00 in 2020 to R$5.58 per US$1.00 as of December 31, 2021.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Tariff barriers and other barriers (classical
form and arising from trade defense processes) </I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Global demand for Brazilian poultry and pork
products is significantly affected by trade barriers, including: (i) tariff barriers, or high import tariffs that protect certain domestic
markets; (ii) non-tariff barriers, mainly import quotas, sanitary barriers and religious/technical barriers. In addition, some countries
employ production and export subsidies, which tend to distort international trade and interfere with the Company's business. The Company
continuously monitors trade barriers and other restrictions on imports in the chicken, pork, beef and other sectors of interest in the
world directly or from specialized consulting firms, as these restrictions significantly affect the demand for its products and the level
of its exports.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The European Union (since 2007), Russia (since
2012) and Mexico (since 2013), for example, protect their local meat industries by applying import quotas and charging (sometimes prohibitive)
tariffs for volumes exported outside the specified quota.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In September 2013, South Africa increased import
tariffs on chicken products from all countries, with the exception of the European Union (due to a free trade agreement between them that
establishes a zero tariff on poultry products) . Rates increased to 82% for whole chicken, 12% for boneless cuts and 37% for bone-in cuts.
In 2020, the government of South Africa announced increases in import tariffs, applied to imports of bone-in cuts (from 37% to 62%) and
boneless (12% to 42%), which had a negative impact on competitiveness and profitability. of the Company in the said country. In February
2021, the South African government announced the start of an investigation <I>antidumping</I> against Brazilian exporters of frozen chicken
on the bone. In December, the decision was published in the local official gazette on tariffs. <I>antidumping</I> provisions to be applied
immediately in South Africa (bone-in chicken). The South African government decided on an unbelievable provisional tariff of 265% for
companies that did not request individual defense, in
the case of BRF. It is important to note that the provisional tariffs will apply until June 14, 2022, while the investigation <I>antidumping</I>
is still in progress. There is no certainty that the local government will not impose further restrictions on the poultry and/or food
trade.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">In
December 2016, Saudi Arabia increased import tariffs on chicken products from 5% to 20%, which was followed in 2020 by an increase in
the</FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: white">value added tax (VAT)</FONT> <FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">applicable
to whole and parts chicken, from 5% to 15%. </FONT></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In August 2017, the Chinese government launched
an investigation into practices <I>antidumping</I> in Brazilian exports of whole and parts chicken, including the Company's exports. In
a preliminary determination in June 2018, Chinese authorities imposed the provisional application of an import tariff on Brazilian chicken.
The investigation ended in February 2019 and Brazilian exporters agreed to accept a minimum selling price to China.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In August 2018, Iraq decided to apply an extra
tariff on imports, increasing the tariff on chicken products from 10% to 60%.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2021, South Africa launched an investigation
into practices <I>antidumping</I> in Brazilian chicken exports, which could lead to an increase in tariffs applied to the Brazilian product.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Non-tariff barriers </I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Import Quotas</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2005, Brazil obtained a favorable result
in a panel against the European Union at the WTO regarding the reclassification (and tariff increase) of exports of salted chicken breast
meat. In return, the European Union introduced quotas for imports under some tariff codes, notably salted chicken breast, marinated turkey
breast and processed chicken and, in July 2007, Brazil was granted a majority share of these quotas.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Russia uses quotas to control its beef and
poultry imports. As part of the negotiations for its accession to the World Trade Organization (&ldquo;<U>WTO</U>&rdquo;), effective January
1, 2020, Russia abolished swine quotas. Currently, any company can import pork by paying a flat import tariff of 25%.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">The Russian Federal Veterinary and Phytosanitary
Surveillance Service announced, on November 23, 2021, the approval to export to Russia a total of 4 BRF swine plants and 9 swine plants
from Brazil. Brazil's Ministry of Agriculture, Livestock and Supply announced Russian plans to establish a duty-free import quota for
up to 100,000 tons of pork to be imported in the first half of 2022, along with a duty-free import quota of 200,000 tons of beef, in order
to increase domestic supply. This information was confirmed, and the quotas were approved in December.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">The importation of pork and beef is allowed
outside the quotas, from authorized units, and subject to 25% and 15% of import duties, respectively.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">At the moment, the Company has no evidence
that these duty-free import quotas have finally been approved by Russian authorities, but local importers believe this should happen by
the end of December 2021.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">In December 2017, Mexico renewed its chicken
import quota of 300,000 tons until 2019, and in October of that year it expired. As a result, in 2020, the Company was unable to export
chicken to Mexico due to the absence of import quotas. In October 2021, the country increased its export quota by 30,000 tons, much of
which was carried out by cargoes that were already in water at the time of publication.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">Additionally, the government of Saudi Arabia
announced the adoption of an import licensing system, which has not yet been implemented. When it goes into effect, Saudi Arabia will
have the ability to increase its control over imported
volumes and place limitations. Additionally, in April 2018, Saudi Arabia instituted a requirement not to propagate the animal slaughter
process. Saudi Arabia claimed that Brazilian companies' chicken slaughter practices violated Halal principles due to the use of an electric
shock to stun the birds. The Company, together with other Brazilian companies, was therefore obliged to migrate its production processes
to slaughter without stunning in order to supply the Saudi Arabian market. The Company incurs and expects to incur additional costs related
to these requirements in order to export to Saudi Arabia.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In June 2021, more than 12 companies, including
the Company, were invited to participate in a meeting with the Undersecretary of the Ministry of Agriculture of Oman. At the meeting,
the Company was informed about the quota program that the government plans to implement to protect local production. According to the
plan, each company in the sector will have a 10% reduction in its total imports. After a month, the government decided to emphasize that
the quota program would only apply to whole birds, ie 10% on W/CH imports. The implementation of the quota is scheduled to take place
as of January 1, but so far the Ministry has not sent any statement on the process.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Sanitary barriers.</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Despite progress in negotiations, several important
markets (despite progress in negotiations to open trade) are still not open for Brazilian meat products due to sanitary barriers. These
are the cases of the European Union and Colombia for pork; and Taiwan and Panama for chicken.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">As a result of the Trapa&ccedil;a Operation,
on March 5, 2018, the Company received from the Ministry of Agriculture, Environment and Supply (&ldquo;MAPA&rdquo;) a notification that
immediately suspended exports of the plants in Rio Verde/GO, Carambe&iacute;/PR and Mineiros/GO for 13 countries that had specific health
requirements related to the control of <I>Salmonella spp</I> . MAPA temporarily suspended exports from ten other Company plants to the
European Union on March 15, 2018, but revoked such suspension on April 18, 2018. On May 14, 2018, the European Union released a decision
to remove 12 of the plants of the Company in Brazil from the list that enabled the importation of products of animal origin to the countries
of the European Union. The European Union typically has stricter requirements regarding Salmonella levels and other food safety standards
compared to Brazil and the markets in which it operates.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="background-color: white">Given
the ban on imports from production facilities of the Company, it is no longer able to sell your products of these factories embargoed
at European Union and need to direct excess production capacity resulting from such suspension to other markets, which may not be the
case at similar prices or margins.</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">Between
April 29 and April 30, 2020, the plant of the Company located in Rio Verde, Goi&aacute;s, was temporarily suspended by determination of
the</FONT> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: white">Federal Inspection Service (&ldquo;SIF&rdquo;),
due to deviations found in the local water supply system.</FONT></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2020, the General Administration of Customs
of China suspended the authorization for the export of poultry and pork from two of the Company's plants, located in Dourados (SIF 18)
and Lajeado (SIF 3975). The suspension was made due to concerns related to COVID-19 in Brazil. The suspensions of the Dourados plant and
the Lajeado plant were reversed by the Chinese authorities in 2020, after audits. On August 3, 2021, the Company became aware- through
a publication on the website of the General Administration of Customs of the People's Republic of China about the suspension of the export
to the country of pork from its Lucas do Rio Verde unit -MT from that date. The reason given was the malfunction of the refrigeration
system of a single pork container, which was later evidenced by the unloading of the transport system register, which was the sole responsibility
of the carrier. Although all evidence has been sent to Chinese authorities, the suspension has not yet been reversed, which could indicate
that the country may impose similar new restrictions. On December 16, 2021, the Company was informed by MAPA and AGAC regarding the suspension
of the export of chicken meat to China, from Marau.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2020, the Philippines imposed a temporary
ban on poultry exports from Brazil after two Chinese cities found traces of COVID-19 in shipments of imported frozen food, including chicken
wings, from Brazil. The Philippines lifted the ban on imports of Brazilian chicken products in December 2020. Considering that no other
country has adopted policies equal to the embargo made by the Philippine government and that the company no was notified directly, or
by the Brazilian government, that some other country has followed a similar position, the Company believes to be unlikely that other similar
embargoes will occur .</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Subsequently, in May 2021, the Company became
aware that the SFDA notified the World Trade Organization (&quot;WTO&quot;) Committee on Sanitary and Phytosanitary Measures (SPS) about
the change in the technical regulation of the validity of chickens <I>in natura</I> frozen and their cuts, from 1 year to 3 months, counted
from the slaughter date. Pursuant to the WTO Agreements, potentially affected member countries will be able to submit comments on the
aforementioned trade measure. If this measure is implemented, the aforementioned change may substantially affect the sale of frozen chicken
products by the Company to the Kingdom of Saudi Arabia, as well as may reduce its service capacity in that market. <STRIKE>,</STRIKE>
however, at the present time, the Company is not in a position to measure the potential operational and economic-financial impact of complying
with this measure.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In March 2021, the SFDA implemented a system
to reinforce the microbiological control of imported meat at its ports, resulting in delays of up to 3 months in the release of products,
which negatively affected the Company's commercial results. However, the SFDA withdrew implementation of such measures, although there
is no guarantee that this cannot be reconsidered in the future.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Technical barriers.</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In the short term, the Company has to respond
quickly to any imposition of any new restrictions, including temporary health restrictions by redirecting to other markets or changing
product specifications, in order to meet new requirements in order to minimize the effects of exports. liquids of the Company . In the
long term, these restrictions can affect the business' growth rate. of the Company .</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="background-color: white">In April
2018, Saudi Arabia instituted the requirement non-stunning (stunning) of animals in the slaughter process. Saudi Arabia claimed that slaughter
practices of chicken companies Brazilians violated the halal practices due to the use of electric shock to leave the birds stunned moments
before slaughter . The Company and others companies Brazilian were then forced to migrate your processes of production for slaughterhouses
that do not use animal stunning practices in order to supply the Saudi market. The Company has incurred and expects to incur additional
costs regarding such export requirements to the Saudi Arabia. In addition, in January 2019, the authority food and drug regulator from
Saudi Arabia published a report authorizing 25 Brazilian units to produce chicken meat for the Saudi market, including eight of the Company's
units. One of the Company's units (Lajeado/RS) that had already produced chicken meat for the Saudi market was not included as an authorized
unit . However, the eight authorized units have enough capacity to meet demand of that Marketplace. The Company hopes to be able to continue
migrating to production of meat of chicken destined for Saudi Arabia for authorized units without significantly affecting their shipments
to saudi arabia <STRIKE>.</STRIKE></FONT></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2020, Saudi Arabia continued its practice
of creating barriers, such as suspending imports from the Francisco Beltr&atilde;o (SIF 2518) and Dois Vizinhos (SIF 1985) plants in February
2020, without providing any technical justification, increasing the costs of Halal certification. by applying for certification at the
SFDA Halal Center, and adopting import licenses to control the volume of imports. The import license requirements have not yet been fully
implemented and the Company is uncertain whether the Saudi government will use them as an import barrier. Saudi Arabia also imposed an informal ban
in 2020 against products originating in Turkey, which affected the exports of subsidiary Banvit.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Additionally, since 2018, the South African
government has threatened to launch an investigation <I>anti-dumping</I> against Brazil in connection with certain protein cuts, in which
they claim to be exported at lower prices than those on the South African domestic market. This investigation began in 2021 and may result
in a tariff increase. Finally, in March 2021, the South African government opened an inquiry <I>anti-dumping</I> against Brazilian poultry
exporters, which may result in the imposition of new restrictive measures against Brazilian exporters.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2020, the government of Indonesia appealed
a WTO decision related to a case filed by the Brazilian government against import barriers imposed by Indonesia. The activities of the
WTO Appellate Body are suspended pending the appointment of the judges. As a result, it is not possible to estimate when this issue will
be resolved. In 2020, an increase in Malaysia's efforts to strengthen activities related to Halal certificate regulations was also observed,
posing an additional challenge for the fulfillment of all the requirements of that country. To date, the Company has been successful in
overcoming these difficulties in sending cargo, and the Company believes that the trend of imposing new import barriers may extend into
the future.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Angola has also imposed certain controls on
the issuance of import licenses in 2020 as a way to reduce imports. Angola is experiencing a lack of foreign currency, mainly US Dollars,
which has impacted its import volumes. Additionally, also in 2020, Iraq imposed technical barriers from bans on imports of chicken parts.
In 2019, Iraq had already banned the import of whole chickens.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In Turkey, there is a risk related to the non-renewal
of the license regarding the validity of transgenic events, which would impact Turkish imports of transgenic soy, thus affecting the costs
of local production.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Consequences of the occurrence of outbreaks
and/or cases of animal diseases of economic and public health interest</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Avian Influenza (Avian Influenza, AI)</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Avian influenza has attracted the attention
of the international community over the years, with outbreaks in poultry, having serious consequences, both for livelihoods and international
trade in many countries. In addition, while most avian influenza viruses do not infect humans, some, such as H5N1 and H7N9 avian influenza,
are well known to the public because of the possibility of serious and sometimes fatal infections in people.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Demand for the Company's products may be significantly
affected by outbreaks of animal diseases, such as avian influenza. If a significant number of new cases of avian influenza occur in humans,
even if not in any of our markets, demand for our poultry products both inside and outside Brazil could be adversely affected and the
extent of the effect to the Company will not be can be predicted. Even isolated cases of avian influenza in humans can negatively impact
your business due to public sensitivity to the disease.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Brazil has not yet had a documented case of
avian influenza, although there are concerns that an outbreak of avian influenza could occur in the country in the future. Any outbreak
of avian influenza in Brazil could lead to the necessary disposal of the Company's poultry flocks, which would result in reduced sales
in the poultry sector, prevent the recovery of costs incurred in raising or purchasing birds and result in additional expenses for disposal.
of birds. Furthermore, any outbreak of avian influenza in Brazil would likely lead to immediate restrictions on the export of some of
its products to major export markets. Preventive measures adopted by the Brazilian authorities, if any, may not be effective in preventing
the spread of avian influenza in Brazil. In addition, any future significant outbreak of avian influenza in Brazil could lead to pressure
to dispose of swine, even though no link between influenza cases and pork consumption is proven. Any disposal of the Company's hogs of
this nature would result in decreased sales of pork, prevent the recovery
of costs incurred in raising or purchasing hogs and result in additional expenses for hog disposal.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>Other animal diseases </I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Likewise, demand in the Company's export markets
may be influenced by other illnesses. For example, pork imports from most Brazilian states were banned from Russia from 2005 to 2007,
due to FMD cases in the states of Mato Grosso do Sul and Paran&aacute;. However, the ban affected Brazilian imports to Russia in general
and, at the time, required the Company to transfer pork production for the Russian market to Rio Grande do Sul.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">More recently, a viral disease called swine
epidemic diarrhea has been diagnosed in North America and Asia. The main clinical signs are enteric symptoms, short stature and high mortality.
In these regions, the disease was responsible for a significant reduction of animals in the finishing phase and consequent increase in
prices as a result of reduced supply. Biosecurity and management procedures can reduce their impacts.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Outbreaks of African Swine Fever have been
reported since August 2018. The Chinese market has altered its purchases as a result of these outbreaks. Consequently, the volumes of
pork cuts of the Company sold to China increased. As a result of the outbreaks of African Swine Flu in China, MAPA suspended the importation
of natural pig intestines from China. This measure was preventive.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Although all the pigs of the Company in Brazil
originate from Classical Swine Flu (&ldquo;CSF&rdquo;) free zones, there have been several recent outbreaks outside these zones. In October
2018, an outbreak of classical swine fever was confirmed in the Brazilian state of Cear&aacute;. In addition, in 2019, a case of classical
swine fever was confirmed in the Brazilian states of Alagoas and Piau&iacute;. In 2020, two more cases were reported in Piau&iacute;.
Brazil has two zones in relation to the health status of Classical Swine Fever, the free zone comprising 16 Brazilian states and including
more than 95% of Brazilian commercial swine production and a non-free zone, located in northern Brazil. All three states with confirmed
cases of classical swine fever are located outside the classical swine fever-free zone. The Brazilian government has also taken steps
to contain the outbreak. No formal trade embargoes were announced as a result of this outbreak.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Effect of export market demand on the domestic
market </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Fluctuations in demand for poultry, pork and
beef products in export markets of the Company generally affect the supply and sale prices of these products in the Brazilian market.
Brazilian exporters often redirect products from the international market to the domestic market, increasing the supply of these products
domestically and often negatively affecting the selling price. Consequently, this affects net sales of the Company in the domestic market.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">For example, in 2017, Russia embargoed pork
imports from Brazil, alleging the presence of ractopamine in animal feed. As a result, almost 259.4 thousand tons per year had to be redirected
to other markets, which ended up generating an excess supply in the domestic market and contributed to the decrease in the price of pork
carcass in 2018.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In August 2017, the Chinese government launched
an investigation into <I>antidumping</I> with respect to Brazilian exports of whole chicken and chicken cuts, including the Company's
exports. In the preliminary determination released in June 2018, Chinese authorities imposed provisional import duties on poultry products
imported from Brazil. The investigation ended in February 2019 and Brazilian exporters agreed to certain minimum export prices on sales
to China.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In addition, in April 2018, Saudi Arabia instituted
a non-stunned requirement for animals in the slaughter process. Saudi Arabia claimed that Brazilian companies' chicken slaughter practices
violated Halal practices due to the use of electric shock to stun birds. The Company and other Brazilian companies were then forced to migrate
their production processes to slaughterhouses that do not use animal stunning practices in order to supply the Saudi market.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2019, Chinese demand for imported proteins
grew significantly due to African Swine Fever, a deadly virus that drastically reduced the local supply of pork and, consequently, increased
the local and global price of protein. In 2019, China enabled 9 chicken plants, six pork plants and twenty-two Brazilian beef plants to
improve import volume and reduce its protein deficit.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2020, as a result of Operation Trapa&ccedil;a,
the Saudi Food &amp; Drug Authority (&ldquo;SFDA&rdquo;) temporarily suspended the export authorization of two of our plants, Dois Vizinhos
(SIF 2518) and Francisco Beltr&atilde;o (SIF 1985). The Saudi agency based its decision on reports related to the investigation. The case
was brought by Brazil as a Specific Commercial Concern (SCP) at the 4th meeting of the Sanitary and Phytosanitary Measures (SPS) Committee
of the World Trade Organization (&ldquo;WTO&rdquo;), held in November 2020. Likewise, in the same year, we received government approval
from China to export from two of our plants, Dourados (SIF 18) and Lajeado (SIF 3975).</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2021, Saudi Arabia banned the import of
chicken from some Brazilian slaughterhouses. This ban only affected competition, while BRF continued to be able to export. In addition,
Russia and other countries in the region have increased their import quotas for Brazilian pork, creating greater opportunities for international
negotiations. Regarding China, the country banned the import of beef from Brazil from September to December 2021, in addition to banning
the import of pork from Germany due to ASF cases.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company monitors the actions of its domestic
competitors, as they are also impacted by changes in the foreign market and may redirect their products to the domestic or foreign market.
In addition, it monitors fluctuations in supply generated by producers in China, the US, the European Union and other regions, as increased
production in these markets can lead to greater supply in other countries.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>transportation cost</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The cost of transporting the Company's products
through its domestic distribution network and to its customers abroad is significant and is affected by fluctuations in the price of oil.
In 2021, 2020 and 2019, freight costs represented approximately 5.0%, 5.1% and 5.0% of net revenues from continuing operations. The Company
sends its export products by ships and, for the most part, through CFR ( <I>cost and freight</I> ) or DDP ( <I>delivered duty paid</I>
), which require it to pay for shipping and insurance costs. In 2019, transport companies included the adjustment factor for the <I>bunker</I>
(the fuel used by ships) in their agreements due to uncertainty in future fuels as a result of political instability in the Middle East.
In 2019, shipping lines also began preparing for the implementation of the International Maritime Organization (or &ldquo;IMO&rdquo;)
Low-Sulphur Regulation, which took effect on January 1, 2020. As a result of the new regulation, the Company's freight levels increased
by approximately 11%, due to the higher cost of <I>bunker</I> VLSFO, which creates lower sulfur emissions compared to bunker IFO. The
new IMO regulation is expected to affect all actors in the maritime sector. The new IMO regulation affected all actors in the transport
industry. Likewise, between March and May 2020, due to the uncertainties related to the effects of the COVID-19 pandemic, oil prices dropped
dramatically and sea freight was adjusted incurred by the Company as well as the <I>bunker</I> mentioned above. The price of oil partially
recovered at the end of 2020.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Global protein demand is also expected to put
pressure on freight levels and restrict container availability due to African Swine Fever in China, especially on sea lanes with restricted
capacities such as South America to Asia. Due to the uncertainty of this increase in global demand and limited supply of reefer containers,
in 2021 the Company suffered pressure in its logistics operations around the world, with costs related to sea freight during 2021 increasing
approximately 33% compared to 2022.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">For information on the impact of prices on
<I>commodities</I> and the effects of exchange rate, inflation and interest rate variations on the Company's revenue, see item 10.2.c
below.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;revenue
variations due to changes in prices, exchange rates, inflation, changes in volumes and the introduction of new products and services:</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The information for this item is provided in
item 10.2.c below.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>c. impact of inflation, changes in prices
of key inputs and products, exchange te and interest rates on operating results and financial results of the issuer, where relevant</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><I>commodity prices </I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Several of the Company's raw materials are
<I>commodities</I> whose prices constantly fluctuate in response to market forces of supply and demand. The Company purchases large quantities
of soybean meal, soybean (grain) and corn, used substantially in the production of all its own animal feed. For the most part, prices
for <I>commodities</I> that the Company purchases are denominated in Reais. Although input costs are denominated in Reais, the prices
of <I>commodities</I> tend to follow international prices and are influenced by exchange rate fluctuations. Purchases of corn, soybean
meal and soybeans represented approximately 46.5% of the Company's cost of sales in 2021, compared to 32.3% in 2020. Although the Company
produces most of the hog herd that it uses in its pork products, the Company also purchased hogs on the spot market in 2021 (3.8% of total
hog slaughter).</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In addition, the sales prices of many of its
products, including all of its products for the international market, are highly sensitive to the market price of these <I>commodities</I>
and fluctuate with that price. In 2021, the average price of corn in Brazil was 60% higher than in 2020. In 2021, the average price of
soybean meal in Brazil was 22% higher than the average price in 2020. The effect of the decrease or increase in raw material prices on
the Company's gross margin is greater with respect to products of a more similar nature to fresh products than in relation to products
with higher added value.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's ability to pass through raw material
price increases to its sales prices is limited by prevailing prices for products sold in its domestic and international markets, especially
for fresh products.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Effects of exchange rate variations and
inflation</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The table below sets forth, for the periods
indicated, the fluctuation of the real against the US dollar, average daily and period-end exchange rates and Brazilian inflation as measured
by the National Consumer Price Index (&quot;<U>INPC</U>&rdquo;), National Broad Consumer Price Index (&ldquo;<U>IPCA</U>&rdquo;) and General
Market Price Index (&ldquo;<U>IGP-M</U>&rdquo;).</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="width: 15%; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>2020</B></FONT></TD>
    <TD STYLE="width: 15%; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>2019</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Appreciation (depreciation) of the real against the US dollar </FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">6,88</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">(22,44%)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">(4,02%)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Period-end exchange rate (US$1.00) </FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">BRL 5.58</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">R$ 5.20</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">R$ 4.03</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Average (daily) exchange rate (US$1.00) <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">R$5.40</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">BRL 5.16</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">BRL 3.95</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Basic SELIC exchange rate (target) at the end of the period <SUP>(two)</SUP></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">9.25%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">2.00%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">4.50%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Inflation (INPC) <SUP>(3)</SUP></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">10.16%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">5.45%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">4.48%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Inflation (IPCA) <SUP>(4)</SUP></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">10.06%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">4.52%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">4,31%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Inflation (IGP-M) <SUP>(5)</SUP></FONT></TD>
    <TD>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">17.78%</P></TD>
    <TD>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">23:14</P></TD>
    <TD>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">7.30%</P></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Source</B> : IBGE, Funda&ccedil;&atilde;o
Get&uacute;lio Vargas and Central Bank of Brazil.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">The average (daily) exchange
rate is the sum of the daily exchange rates based on the PTAX 800 Option 5 transaction, divided by the number of business days in the
period. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">The SELIC (Special System of
Custody Settlement) interest rate is the main Brazilian reference interest rate.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">The INPC is published by the
IBGE and measures inflation for families with income between one and eight minimum wages per month in 11 metropolitan regions of Brazil.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">(4)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">The IPCA is published by the
IBGE and measures inflation for families with an income between one and 40 minimum wages per month in 11 metropolitan regions of Brazil.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">(5)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">The IGP-M assigns different weights
to the consumer, wholesale prices and construction prices. The IGP-M is published by Funda&ccedil;&atilde;o Get&uacute;lio Vargas, a private
foundation.</FONT></TD></TR></TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's results of operations and financial
condition are significantly affected by changes in the exchange rate of the real against the US dollar, euro and pound sterling. The Company's
sales in international markets are billed mainly in US Dollars and, in Europe, in Euros and Pounds Sterling, but its operating results
are recorded in Reais. The appreciation of the real against these currencies reduces the amount received by the Company in Reais, thus
reducing the Company's net sales related to international markets, whereas the opposite occurs when the real depreciates against other
currencies.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The prices of soybean meal and soybean, important
ingredients in the Company's animal feed, are directly linked to the US dollar. The price of corn, another important feed ingredient,
is also indexed, but at lower levels than soybeans and soybean meal. In addition to soybean, soybean and corn meal, the Company purchases
sausage casings, mineral nutrients for animal feed, packaging and other raw materials from its suppliers located abroad, as well as equipment
for use in its production units, the which are paid in US Dollars or other foreign currencies. When the real depreciates against the US
dollar, the cost in Reais of the Company's raw materials and equipment pegged to US currency increases, and such increases could materially
and adversely affect its results of operations. On the other hand, the appreciation of the real has a positive effect on its costs as
part of them are fixed in US dollars, however this reduction does not immediately affect its operating results due to the duration of
its poultry and pork production cycle.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">As of December 31, 2021, the Company had loans
and financing in foreign currency in the total amount of R$16.343.552 thousand, representing 64,2% of total loans and financing. As of
December 31, 2020, the Company had loans and financing in foreign currency in the total amount of R$15,739,134 thousand, representing,
on that date, 70.3% of total loans and financing. Despite managing a portion of its foreign exchange risks through derivatives and future
cash flows from exports in US dollars and other foreign currencies, the Company's foreign currency debt obligations are not fully hedged.
A sharp depreciation of the real against the US dollar or other currencies would increase the amount in reais that would be required to
meet the debt service requirements of its foreign currency obligations. The Company acts to protect the cash flow from revenues and costs
denominated or with significant influence of the exchange variation, based on limits established in its Financial Risk Management Policy,
in order to avoid a distortion of its margins due to the appreciation the real against the US dollar. In the event of a devaluation of
the real against the US dollar, the favorable effect on these margins is partially mitigated by the volume of hedge operations contracted
with effect over the time horizon determined by the Financial Risk Management Policy. For further details on the Company's operating exposure
to foreign exchange, see items 4.2.iv.b &ndash; &ldquo;Exposure of Operating Income&rdquo; and 5.2.b &ndash; &ldquo;Foreign Exchange Risks&rdquo;
above.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Historically, the Company's results of operations
and financial condition are affected by inflation rates in Brazil. The demand for its products in the domestic market is sensitive to
consumer price inflation, as reflected in variations in the INPC and IPCA, and the Company's costs and expenses are mostly incurred in
Reais. Due to the fact that long-term contracts with suppliers and customers are not customary in the Company's industry and prices are
generally negotiated monthly or quarterly, increases in inflation have an immediate impact on its net sales and costs.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The IGP-M index is generally used in the negotiation
of prices that the Company pays to its suppliers as a reference for inflation. In addition, the Company purchases electricity to operate
its production units through long-term contracts that include periodic inflation adjustments in accordance with the IGP-M index.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In terms of personnel costs, salaries are adjusted
only once a year, based on collective agreements between employers' unions and workers' unions. Generally, labor unions follow the INPC
as a parameter for their negotiations.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Effects of interest rates</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's financial expenses are affected
by movements in Brazilian and foreign interest rates. As of December 31, 2021, 26,9% (29.7% as of December 31, 2020) of its total R$ R$
24.456.060 thousand of loans and financing was (1) denominated in Reais (or in swap exchange) and was subject to interest indexed to Brazilian
floating interest rates, such as the TJLP, the interest rate used in its financing agreements with BNDES, or the CDI, the rate of the
interbank certificate of deposit applied to its contracts of swap exchange rate and certain of its other debt denominated in reais, or
IPCA or (2) denominated in US dollars, indexed to a floating interest rate based on LIBOR. Any increase in CDI, TJLP or LIBOR could have
an adverse effect on the Company's financial expenses and results of operations.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The table below shows the average interest
rates to which the Company was exposed in the following years:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Average interest for the year ended in</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>December 31, 2021.</B></P>
</DIV></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 52%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>2021</B></P></TD>
    <TD STYLE="vertical-align: top; width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>2020</B></P></TD>
    <TD STYLE="vertical-align: top; width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>2019</B></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>(%)</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>(%)</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>(%)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>CDI</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">4.4</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">2,8</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">4.4,</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>six month LIBOR</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">0,2</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">0.7</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">1.9,</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>10.3 - Events with significant, occurred
and expected effects in the financial statements </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The following information was evaluated and
commented on by the Company's Officers:</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(a) Introduction or disposal of operational
segment</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">An operating segment is a component of the
Company that carries out business activities to obtain revenues and incurs expenses. The operating segments reflect the way in which the
Company's Management reviews the financial information for decision making. in the exercise social closed on december 31, 2021 there was
no introduction or disposal of operating segments, which are presented in explanatory note 25 to the financial statements for the fiscal
year closed on December 31, 2021.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(b) Incorporation, acquisition or disposal
of equity interest</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">On 08.20.19, Badi Limited, a wholly-owned subsidiary
of the Company, executed a share purchase agreement with Al Takamul International Company for Commercial Investment Limited for the acquisition
of 25% of the remaining interest in the capital of Al Wafi Al Takamul International Company for Food Products Limited (&ldquo;Al Wafi&rdquo;),
a company incorporated in Saudi Arabia, responsible for distributing the Company's products in the country. The transaction was effected
on April 21, 2020 for the amount equivalent to R$100,390 thousand (USD19,000 thousand) and from that date onwards, Al Wafi became a wholly-owned
subsidiary of Badi Limited. The amount paid is shown in Financing Activities in the Statement of Cash Flows and the difference between
the amount paid and the book value of the interest in the subsidiary was recorded in Capital Reserves, in the amount of R$50,945 thousand.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">On May 7, 2020, the Company entered into a
share purchase agreement with Hungry Bunny Limited and others, setting out the terms and conditions for the acquisition of 100% of the
share capital of Joody Al Sharqiya Food Production Factory, a food processing company. food in Saudi Arabia. The transaction was completed
on January 18, 2021 (explanatory note 35.1 to the 2020 financial statements).</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">On June 24, 2020, the wholly-owned subsidiary
of the Company BRF Foods GmbH sold 70% of the shares of FFM Further Processing Sdn. Bhd. company incorporated in Malaysia and owner of
a food processing unit in that country, to FFM Berhad, which previously already held the remaining 30% of these shares. The transaction
amount was equivalent to R$38,546 (USD7,350).</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">On 12.17.20, Nutinvestment BV and Banvit Bandirma
Vitaminli Yem Sanayii AS, companies indirectly controlled by the Company, entered into an instrument of purchase and sale of shares with
Aaylex System Group SA, establishing the terms and conditions for the sale of 100% of the shares of Banvitfoods SRL for the amount equivalent
to R$129,471 thousand (EUR20,300 thousand). On May 4, 2021, Nutrivestment BV and Banvit Bandirma Vitaminli Yem Sanayii AS, companies indirectly
controlled by the Company, completed the transaction . The total amount of the operation was equivalent to R$ 145,484 thousand (EUR22,457),
as described in explanatory note 1.1.2 to the financial statements for the fiscal year closed on 12.31.21).</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">On 01.18.21, through its wholly-owned subsidiary
Badi Limited (&quot;Badi&quot;), the Company completed the transaction to purchase 100% of the share capital of Joody Al Sharqiya Food
Production Factory (&quot;Joody Al&quot;), a processing company of food in Saudi Arabia. The fair value of the consideration was equivalent
to R$40,720 (SAR29,195) paid in cash and, as of that date, Joody Al became a wholly-owned subsidiary of Badi.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In June 2021, the subsidiary BRF Pet., dedicated
to the <I>pet food</I> , signed a contract for the acquisition of quotas representing 100% (one hundred percent) of the share capital
of the companies that make up the Hercosul Group. On August 2, 2021, the Company concluded the transaction for the amount of R$812,921,
of which R$675,355 was paid in cash, R$119,180 will be paid in the next 4 years and R$18,386 refers
to contingent consideration. In accordance with the conditions
established in the acquisition agreement, which are common in contracts of this nature, the amount of consideration may be adjusted based
on the net debt and working capital of the Hercosul Group.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In June 2021, the subsidiary BRF Pet S.A. entered
into an agreement for the acquisition of the companies Paraguassu Participa&ccedil;&otilde;es S.A. and Affinity Petcare Brasil Participa&ccedil;&otilde;es
Ltda., both holding 100% (one hundred percent) of the capital stock of Mogiana Alimentos S.A. on 09/01/21, the Company concluded the transaction
for the amount of R$481,435, of which R$290,225 was paid in cash, R$145,548 will be paid over the next 6 years and R$45,662 refers to
contingent consideration. According to the conditions established in the acquisition agreement, which are common in contracts of this
nature, the total amount of the consideration can be adjusted based on the net debt and working capital of Mogiana Alimentos S.A.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">On August 16, 2021, the Company entered into
an Investment Agreement for the constitution of a joint venture with a subsidiary of AES Brasil Energia SA for the construction of a wind
farm for self-generation of wind energy in the Caju&iacute;na Wind Power Complex, Rio Grande do Norte, with an installed capacity of 160MW,
generating 80MWm, to be sold with the Company through a 15-year energy purchase and sale agreement. The estimated investment for the project
is approximately R$5.2 million/MW installed, and the Company will directly invest approximately R$80 million, to be disbursed during the
development of the project. The operation is still pending closure and the start of operations at the park is scheduled for 2024.</P>

<P STYLE="font: 11pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 10pt">On September
16, 2021, the Company signed, with Intrepid Participa&ccedil;&otilde;es S.A. (&ldquo;Intrepid&rdquo;), a Contract for the Purchase and
Sale of Incentivized Electricity, for a period of 15 years, together with a Private Instrument for Granting a Stock Option, which, despite
the Company's entry through a holding jointly owned with Intrepid, has the objective of building a park for self-generation of solar energy
in the cities of Mauriti and Milagres, Cear&aacute;, with an installed capacity of 320 MWp ( Megawatt peak), with an average generation
of 80MW.</FONT> O <FONT STYLE="font-size: 10pt">estimated investment in the project is approximately R$1.1 billion (R$3.7 million/MWp
installed), with expected direct investment from BRF of R$80 million, to be disbursed during the course of the Project. The operation
is still pending closure and the start of operations of the park is scheduled for 2024.</FONT></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In December 2021, BRF Foods GmbH and One Foods
Holdings Ltd., the Company's indirect wholly-owned subsidiaries, signed an amendment to the shareholders' agreement with Qatar Holding
LLC, a wholly-owned subsidiary of Qatar Investment Authority, through which they agreed to terminate the put option held by Qatar Investment
Authority provided for in such instrument <FONT STYLE="color: #242424">, therefore, BRF's financial obligation to QIA is extinguished.
From 2023, QIA will have new alternatives to liquidate its investment in Banvit.</FONT></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">On January 13, 2022, the Company entered into
a Memorandum of Understanding (&ldquo;MOU&rdquo;) with the Public Investment Fund (&ldquo;PIF&rdquo;), a Saudi Arabian investment fund.
The MOU is non-binding and aims to create a joint venture that will operate in the complete chicken production chain in Saudi Arabia and
promote the sale of fresh, frozen and processed products. The joint venture will be owned 70% by the Company and 30% by PIF and includes
a core Halal business in Saudi Arabia. The MOU contemplates investments of approximately US$ 350,000,000.00.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(c) Unusual events or operations</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">There are no unusual events and/or operations
to be indicated.<BR STYLE="clear: both">
</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>10.4 Significant changes in accounting practices
- Provisions and emphasis on the auditor's opinion </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;significant
changes in accounting practices</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">In the fiscal year ended December 31, 2021, the Company
changed the classification of interest payments on loans and financing in the statement of cash flows, reclassifying this item from Operating
Activity to Financing Activity. This change was made for a better presentation of the Company's cash flows and harmonization with the
reports used by management in its management.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">To improve the level of detail in the presentation
of information in the financial statements, in the fiscal year closed on 12.31.21 the Company started to classify the expenses with employee
and management sharing in the results by function in the income statement.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">On January 1, 2019, there was the adoption of CPC
06 (R2) / IFRS 16 - Leases. For this standard, according to the accounting file contained in CPC 16, there was no restatement of comparative
balances, so that the years presented in the financial statements for the year ended December 31, 2019 have different practices.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;significant
effects of amendments in accounting practices</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">As a result of what is described in item 10.4.a of
this form and as presented in note 3.1 to the financial statements for the fiscal year ended on 12.31.21, to ensure comparability between
the years presented, the Company made the following reclassifications regarding the fiscal year ended on 12.31.20 in the statement of
cash flows:</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center"><IMG SRC="brf202202256k2_002.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">On 01.01.19 there was the adoption of CPC 06 (R2)
/ IFRS 16 - Leases. For this standard, there was a record of a right-of-use asset of R$2,397,743 thousand, a lease liability of R$2,391,456
thousand and the difference between the balances in the amount of R$6,287 thousand, which was caused by lease provisions operations already
recorded on 12.31.18, under Shareholders' Equity. Such contracts were previously disclosed as operating leases, according to the annual
financial statements for the year. social closed on 12.31.18.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(c) Exceptions and emphases in the auditor's
report</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">in the exercise social closed on December 31,
2021 and in the last two fiscal years, there were no reservations in the reports of the Company's independent auditors.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In the consolidated financial statements for
the fiscal year closed on December 31, 2021 consisted of the following emphasis :</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&ldquo;We draw attention to note 1.5 to the
individual and consolidated financial statements, which describe the investigations concluded by US government entities and those in progress
conducted by Brazilian government entities involving the Company, as well as their current and potential developments. At the current
stage of ongoing investigations, it is not possible to determine the potential financial and non-financial impacts to the Company as a
result of these investigations and their potential developments and, consequently, to record potential losses which could have a material
adverse impact on the financial position. of the Company, in its results and in its cash flows in the future. Our opinion is not qualified
on these matters.&rdquo;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In the financial statements for the fiscal
year closed on December 31, 2020 consisted of the following emphasis:</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&ldquo;We draw your attention to note 1.2 to
the individual and consolidated financial statements, which describe the investigations involving the Company, as well as their current
and potential developments. At the current stage of the investigations, it is not possible to determine the potential financial and non-financial
impacts for the Company as a result of these investigations and their potential developments and, consequently, record potential losses
which could have a material adverse impact on the Company's financial position. , on its results and on its future cash flows. Our opinion
is not limited to this matter.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In the financial statements for the fiscal
year closed on December 31, 2019 consisted of the following emphasis:</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&ldquo;We draw attention to notes 1.2 and 1.3
to the financial statements, which describe the investigations involving the Company, as well as their current and potential developments.
At the current stage of the investigations, it is not possible to determine the potential financial and non-financial impacts for the
Company as a result of them and their potential developments and, consequently, record potential losses, which could have a material adverse
effect on the financial position of the Company. Company, in its results and in its cash flows in the future. Our opinion is not limited
to this matter.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>10.5 - Critical accounting policies </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The preparation of the Company's consolidated
financial statements requires the use of critical accounting judgments, estimates and assumptions. Management periodically evaluates these
estimates and judgments, based on historical experience and on several other factors considered reasonable under such circumstances. However,
the uncertainties relating to these judgments, assumptions and estimates could lead to results that require a significant adjustment to
the carrying amount of certain assets and liabilities in future years. .</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">All the relevant accounting practices adopted
by the Company are presented in Note 3 to the financial statements. individual and consolidated, of the Company for the year ended December
31, 2021. In the opinion of the Company's Management, the critical accounting policies adopted, summarized below, adequately reflect the
conditions of its business.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>a)</I></B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>Financial instruments</I></B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Financial instruments are contracts that give
rise to a financial asset for one entity and a financial liability or equity instrument for another. Its presentation in the balance sheet
and explanatory notes is given according to the characteristics of each contract.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Financial Assets</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Financial assets are recognized when the entity
becomes party to the contractual provisions of the instrument and classified based on the characteristics of their cash flows and the
management model for the asset. The table below shows how financial assets are classified and measured:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Category</B></P></TD>
    <TD STYLE="width: 34%; border-top: Black 1.5pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Initial Measurement</B></P></TD>
    <TD STYLE="width: 33%; border-top: Black 1.5pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Subsequent measurement</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Amortised Cost</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><FONT >Trade
    accounts receivable and other receivables: invoiced amount adjusted to present value and, when applicable, less expected credit losses</FONT></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><FONT >For other
    assets: Fair value less costs directly attributable to their issuance .</FONT></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Interest, changes in amortized cost and expected
    credit losses recognized in profit or loss.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Arial Unicode MS; padding: 5pt 5.4pt 12pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Fair value through result</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Fair value .</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Changes in fair value recognized in profit or
    loss.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Fair value through other comprehensive income
    (VJORA)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Fair value less costs directly attributable
    to its issuance.</P></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Changes in fair value recognized in other comprehensive
    income. Upon liquidation or transfer, accumulated gains or losses are directly reclassified to retained earnings or losses.</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">For debt instruments, expected credit losses
    are recognized directly in profit or loss.</P></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company assesses at each reporting period
the expected credit losses for instruments measured at amortized cost and for debt instruments measured at VJORA. Losses and/or loss reversals
are recorded in income.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>Expected credit losses on Accounts receivable
from customers and other receivables:</I> the Company regularly carries out a study of historical losses of the customer portfolios it
has in all regions, taking into account the dynamics of the markets in which it operates and instruments it has to reduce credit risks,
such as: letters of credit, insurance and guarantees real assets, as well as identifying specific clients whose risks differ from the
portfolio, which are treated according to individual expectations.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Based on these studies, estimated loss factors
are generated by portfolio and class of maturities that, applied to the amounts of accounts receivable, generate the expected credit losses.
Additionally, the Company assesses macroeconomic factors that may influence the aforementioned losses and, if necessary, adjusts the calculation
model.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Notes receivable from judicial collection are
reclassified to non-current as well as the related estimated credit loss. The securities are written off against the estimated loss to
the extent that Management considers that they are no longer recoverable after taking all appropriate measures to receive them.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Financial liabilities</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Financial liabilities are recognized when the
entity becomes party to the contractual provisions of the instrument. The initial measurement is at fair value and subsequently at amortized
cost using the effective interest method. Interest on financial liabilities is shown under Financial Income (Expenses), Net.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">A financial liability is only derecognised
when the contractual obligation expires, is settled or cancelled.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Adjustment to present value</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company measures the adjustment to present
value on the short-term and long-term balances of accounts receivable, suppliers and other obligations, being recorded in the reduction
accounts of the respective headings as a contra entry to the financial result. The Company adopts the weighted average cost of capital
to calculate the adjustment to present value of the aforementioned assets and liabilities.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Hedge accounting</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>Cash flow hedge:</I> the effective portion
of the gain or loss on the hedging instrument is recognized in the caption Other Comprehensive Income and the ineffective portion in the
Financial Result. Accumulated gains and losses are reclassified to income or balance sheet when the object is recognized, adjusting the
line item in which the hedged object was recorded.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">When the instrument is designated in a cash
flow hedging relationship, changes in the fair value of the future element of forward foreign exchange contracts and the time element
of options are recognized in Other Comprehensive Income. Upon settlement of the instrument, these hedge costs are reclassified to profit
or loss together with the intrinsic value of the instruments.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>Fair value hedge:</I> the effective portion
of the gain or loss on the hedging instrument is recognized in the income statement or balance sheet, adjusting the line item in which
the hedged item is or will be recognized. The hedged object, when designated in this relationship, is also measured at fair value.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><I>Hedge of net investment abroad:</I> the
effective result of the exchange variation of the instrument is recorded in Other Comprehensive Income, under the same heading in which
the gains (losses) on the conversion of the investments object of the list are recognized. Only when the hedged investments are sold is
the accumulated amount reclassified to income for the year.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>b)</I></B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>Revenue from customer
contracts</I></B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Sales revenues are recognized and measured
observing the following steps: (i) identification of contracts with customers, formalized through sales orders; (ii) identification of
performance obligations; (iii) determination of the transaction price; (iv) allocation of the transaction price; and (v) recognition of
revenue upon satisfaction of the performance obligation.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Revenues are recorded at the amount that reflects
the Company's expectation of receive for the sale of products, net of applicable taxes, returns, rebates and discounts.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's sales originate from sales orders.
Discounts and rebates can either be negotiated punctually or have their conditions defined in the contracts , in general, signed with
large retail and wholesale networks.In all cases, The performance condition is satisfied when control of the goods is transferred to the
customer.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company has cash and installment sales,
which are adjusted to present value for recognition of the financial component (note 3.20.3 of the 2021 financial statements).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>c)</I></B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>Inventories</I></B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">Inventories are valued at the average cost of acquisition
or formation of finished products and less than net realizable value. The cost of finished products includes purchased raw materials,
labor, production costs, transportation and storage, which are related to all the processes necessary for the adequacy of the products
in sales conditions. Reductions in the net realizable value of inventories due to obsolescence, deterioration, slow movement and realizable
value on sale are measured and recorded in each period as necessary. Normal production losses are part of the production cost for the
respective month, while abnormal losses, if any, are recorded directly under Cost of Goods Sold without transiting through inventories.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>d)</I></B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>Taxes on profits</I></B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In Brazil, Corporate Income Tax (&ldquo;IRPJ&rdquo;)
and Social Contribution on Net Income (&ldquo;CSLL&rdquo;) are calculated monthly based on taxable income, after offsetting tax losses
and negative basis of social contribution, limited to 30% of taxable income, applying to this base the rate of 15%, plus an additional
10% for IRPJ and 9% for CSLL.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The results of subsidiaries abroad are subject
to taxation in the countries where they are headquartered, in accordance with applicable tax rates and legislation. In Brazil, these results
suffer the effects of taxation on universal bases established by Law No. 12,973/14. The Company analyzes the results of each subsidiary
for the application of said legislation, in order to respect the treaties signed by Brazil and avoid double taxation.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Deferred taxes represent credits and debits
on tax losses and CSLL negative bases, as well as temporary differences between the tax base and the accounting base. Deferred tax assets
and liabilities are classified as non-current. When the Company's internal studies indicate that the future use of these credits within
a 10-year horizon is not probable, the asset is derecognised (note 10.3 to the 2021 financial statements).</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">the taxes Deferred assets and liabilities are
presented net if there is an enforceable legal right to offset them, and if they fall under the same tax authority under the same taxable
entity.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Deferred tax assets and liabilities must be
measured at the rates applicable in the period in which the asset is realized or the liability settled, based on the rates (and tax legislation)
that are in effect at the balance sheet date.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In compliance with ICPC 22 / IFRIC 23 interpretation,
the Company analyzed relevant tax rulings by higher courts and considered whether they conflict in any way with the positions adopted
by the Company. For known uncertain tax positions, the Company reviewed the corresponding legal opinions and jurisprudence and did not
identify impacts to be recorded, as it concluded that it is not likely that the tax authorities will not accept the positions adopted.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company periodically evaluates the positions
taken in which there are uncertainties about the adopted tax treatment and will set up a provision, when applicable.</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>e)</I></B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>Permanent assets</I></B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Fixed assets are stated at acquisition, formation,
construction or dismantling cost, less accumulated depreciation. Borrowing and financing costs are recorded as part of the cost of property,
plant and equipment in progress, considering the weighted average rate of borrowings and financing in effect on the capitalization date.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Depreciation is recognized based on the estimated
economic useful life of each asset using the straight-line method. Estimated useful lives, residual values and depreciation methods are
reviewed annually and the effects of any changes in estimates are accounted for prospectively. Land is not subject to depreciation.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company annually performs an analysis of
impairment for its cash-generating units, which include the balances of property, plant and equipment (note 13 of the 2021 financial statements
).</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Gains and losses on disposals of property,
plant and equipment are determined by comparing the sale value with the residual book value and are recognized in the income statement
on the date of disposal under Other Operating Income (Expenses).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>f)</I></B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>Lease</I></B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">A contract is a collection contract, or contains
a lease if the contract transfers the right to control the use of an identified asset for a period in exchange for consideration. The
Company assesses whether:</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: left"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Tahoma, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
      <P STYLE="margin-top: 0; margin-bottom: 0">&bull;</P></TD>
  <TD COLSPAN="2">&nbsp;<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-bottom: 12pt; text-align: justify">the contract involves the use of an identified asset, which may be explicit or implicit, and may be physically distinct or represent substantially the entire capacity of a physically distinct asset. If the supplier has a substantial right to replace the asset, then the asset is not identified;</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
      <P STYLE="margin-top: 0; margin-bottom: 0">&bull;</P></TD>
  <TD COLSPAN="2">&nbsp;<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-bottom: 12pt; text-align: justify">the Company has the right to obtain substantially all of the economic benefits from the use of the asset during the contract period; and</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
      <P STYLE="margin-top: 0; margin-bottom: 0">&bull;</P></TD>
  <TD COLSPAN="2">&nbsp;<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-bottom: 12pt; text-align: justify">the Company has the right to direct the use of the asset during the contract period, which occurs in any of the following situations:</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 4%">&nbsp;</TD>
  <TD STYLE="width: 4%"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
      <P STYLE="margin-top: 0; margin-bottom: 0">&bull;</P></TD>
  <TD STYLE="width: 92%">&nbsp;<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-bottom: 12pt; text-align: justify">the Company
has the right to decide how and for what purpose the asset will be used, or</P>
</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
      <P STYLE="margin-top: 0; margin-bottom: 0">&bull;</P></TD>
  <TD>&nbsp;<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-bottom: 12pt; text-align: justify">the conditions
are predetermined such that the Company has the right to operate the asset or has designed the asset in a way that predetermines how
and for what purpose it will be used.</P>
</TD></TR>
</TABLE>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: left"></P>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">At the inception of the agreement, the Company
recognizes a right-of-use asset and a lease liability, which represents the obligation to make payments related to the underlying asset
of the lease.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The right-of-use asset is initially measured
at cost and comprises the initial amount of the lease liability adjusted for any payment made on or before the contract commencement date,
plus any initial direct cost incurred and estimated cost of dismantling, removing , restoration of the asset to the location where it
is located, less any incentive received. The options to extend the term, early termination of contracts and purchase are analyzed individually
considering the type of asset involved as well as its relevance in the Company's production process.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The right-of-use asset is subsequently depreciated
using the straight-line method from the commencement date to the end of the useful life of the right-of-use asset or the end of the lease
term. The estimated useful life of the right-of-use asset is determined using the same methodology as the assets owned by the Company
(note 3.12). Additionally, the right-of-use asset is periodically reduced to recoverable amount, when applicable, and adjusted by the
subsequent measurement of the lease liability.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The lease liability is initially determined
at the present value of unpaid payments, discounted at the incremental borrowing rate and subsequently measured at amortized cost using
the effective interest method.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The liability is reassessed when there is a
change (i) in future payments resulting from a change in index or rate, (ii) in the estimate of the expected amount to be paid in the
guaranteed residual value, or (iii) in the assessment of whether the Company will exercise the option of purchase, extension or termination.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">When the lease liability is revalued, the corresponding
adjustment amount is recorded in the carrying amount of the right-of-use asset, or in profit or loss if the carrying amount of the right-of-use
asset has been reduced to zero.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company does not recognize right-of-use
assets and lease liabilities for contracts with a term of less than 12 months, with no purchase option and of low value. Payments associated
with such contracts are recognized as an expense in profit or loss on a straight-line basis over the lease term.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Additionally, contracts with an indefinite
term and without fixed payments are recorded in income as incurred.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>g)</I></B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>Intangible asset</I></B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Intangible assets acquired are measured at
cost at the time of their initial recognition, while those arising from a business combination are recognized at fair value on the acquisition
date. After initial recognition, they are stated at cost less accumulated amortization and impairment losses, when applicable. Intangible
assets generated internally, excluding capitalized development costs, are not capitalized and expenditure is reflected in the income statement
in the year in which it is incurred.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Intangible assets with finite useful lives
are amortized on a straight-line basis over their economic useful lives. The amortization period and method for an intangible asset with
a finite life are reviewed at least at the end of each fiscal year and any changes observed are applied prospectively. Amortization of
intangible assets with a finite life is recognized in the income statement under the category of expense related to their use.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Intangible assets with indefinite useful lives
are not amortized, but are tested annually for impairment losses, being allocated to cash-generating units (note 14 of the 2021 financial
statements ). The Company records in this subgroup mainly goodwill for expected future profitability and brands, which are expected to
contribute indefinitely to its cash flows.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>h)</I></B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>Business combination</I></B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Business combinations are accounted for using
the acquisition method, which determines that the cost of an acquisition is measured by the sum of the consideration transferred, measured
at fair value on the acquisition date, and the value of any non-controlling interest in the acquiree. The Company measures non-controlling
interests based on their interest in the net assets identified in the acquiree. Costs directly attributable to the acquisition are recorded
as an expense when incurred.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Business combinations with related parties
are recognized using the acquisition method when the agreements have substance and at cost when no substance is observed in the transaction.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In the acquisition of a business, Management
evaluates the assets acquired and liabilities assumed with the objective of classifying and allocating them according to the contractual
terms, the economic circumstances and the relevant conditions on the acquisition date.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Initially, goodwill is measured as the excess
of the consideration transferred in relation to the fair value of the net assets acquired (identifiable assets and liabilities assumed,
net).</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">After initial recognition, goodwill is measured
at cost, less any accumulated impairment losses. For purposes of impairment testing, goodwill is allocated to each of the cash-generating
units that will benefit from the acquisition.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>i)</I></B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><B><I>Provision for tax, civil
and labor risks and contingent liabilities</I></B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Provisions are recognized when the Company
has a present obligation, formalized or not, as a result of a past event, it is probable that an outflow of resources will be required
to settle the obligation and a reliable estimate of its amount can be made.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company is party to several legal and administrative
proceedings, mainly in Brazil. Assessments of the probabilities of loss in these proceedings include an analysis of the available evidence,
the hierarchy of laws, available case law, the most recent decisions in the courts and their relevance in the legal system, as well as
the assessment of external lawyers. Provisions are reviewed and adjusted to take into account changes in circumstances, such as applicable
statute of limitations, conclusions of tax audits or additional exposures identified based on new matters or court decisions.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In cases where there are a large number of
lawsuits whose amounts are not individually relevant, the Company also uses statistical studies to determine the probability and amount
of losses.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Contingent liabilities of business combinations
are recognized if they arise from a present obligation that arose from past events and if their fair value can be measured reliably. The
initial measurement is made at fair value and subsequent measurements are made at the higher of the fair value at the acquisition date
and the amount at which the provision would be recognized.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>10.6 - Relevant items not shown in the financial
statements </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets
and liabilities directly or indirectly held by the issuer that are not shown on its balance sheet (off-balance sheet items), such as:</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In the normal course of its business, the Company
enters into contracts with third parties for the acquisition of raw materials, mainly corn and soybean meal, in which the agreed prices
may be fixed or to be fixed. The Company also enters into other commitments, such as the supply of electricity, packaging, construction
of real estate, among others, to supply its manufacturing activities. The firm purchase commitments are shown below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 76%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>Consolidated</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>(R$ thousands)</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>12.31.2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">Total current</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>5,090,205</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>&nbsp;</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">Total non-current</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>3,281,309</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>&nbsp;</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right">1,395,346</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>&nbsp;</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">2024</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right">703,803</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>&nbsp;</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">2025</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right">411,255</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>&nbsp;</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">2026</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right">273,528</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>&nbsp;</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">2027 onwards</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right">497,377</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>&nbsp;</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-bottom: 12pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>8,371,514</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>&nbsp;</B></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">This table is presented in explanatory note
32 to the financial statements for the fiscal year ended on 12.31.21.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>B. Other items not shown in the financial
statements </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company does not have material items not
evidenced in the financial statements that have or are likely to have effects on its financial condition, income and expenses, results
of operations, liquidity, capital expenditures that are material to investors.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>- Comments on items not shown in the financial
statements</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>a. how such items change or may change revenues,
expenses, operating results, financial expenses or other items in the financial statements of the issuer</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Firm purchase commitments are shown in item
10.6.a and will affect the Company's costs and expenses, as well as assets and liabilities when they meet the recognition requirements
in accordance with applicable accounting standards.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In the case of instruments with prices to be
fixed, variations in the price of services, electricity, commodities, inputs, among others, may significantly affect the Company's future
costs and expenses. The management of such risks is carried out in accordance with BRF's Financial Risk Management Policy.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>B. Nature and purpose of the operation </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Such operations arise in the normal course
of business and consist of contracts with third parties for the purchase of raw materials, mainly corn and soybean meal, in which the
agreed prices may be fixed or to be fixed, in addition to other commitments, such as supply electricity, packaging, construction of real
estate, among others, to supply its manufacturing activities.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>c. nature and amount of obligations assumed
and rights generated in favor of the issuer as a result of the operation </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">For a description of the nature of each operation,
as well as the amount of obligations assumed and rights generated in favor of the Company as a result of operations not shown in the Company's
financial statements, see item 10.6 of this Reference Form.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>10.8 - Business Plan </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;investments</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(i) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;quantitative
and qualitative description of investments in progress and planned investments:</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The table below sets forth the Company's capital
expenditures related to investments in the acquisition of property, plant and equipment, intangible assets and biological assets, in the
last three fiscal years ended December 31, 2021, 2020 and 2019.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Investments</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Fiscal years which ended on December 31st</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 25%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">2021</FONT></TD>
    <TD STYLE="width: 27%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">2020</FONT></TD>
    <TD STYLE="width: 24%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">2019</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><I>(in BRL thousands )</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Permanent assets</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">1,555,426</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">804,609</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">417,165</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Biological assets</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">1,239,746</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">1,006,222</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">837,930</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Intangible Assets</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">179,632</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">96,181</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">64,320</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Total</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">2,974,804</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">1,907,012</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">1,319,415</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Investments made</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Tax Year ended on December 31</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2021, investments were made on a larger
scale for growth, including an increase in the volume of line items and investments in innovation, aiming to gain market share and generate
revenue, in line with the Company's Strategic Planning. In addition, the Company intensified investments that address items related to
the development of the digital journey related to processes and optimization of its activities, an item that is also included in the medium
and long-term planning vision. In addition, investments related to ESG, operational efficiency, compliance and internal controls were
also relevant in the organization's investment pipeline indicated for this exercise.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Social year ending December 31, 2020</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Investments made in 2020 totaled R$11,907,012
thousand. In that year, the Company made investments related to growth and innovation, with the highlights being investments in the plant
in Serop&eacute;dica (RJ), Mineiros (GO), Tatu&iacute; (SP) and Uberl&acirc;ndia (MG). In addition, resources were allocated to projects
related to the digitalization of processes, aiming at a higher level of internal controls and operational efficiency, taking as examples
projects related to S&amp;OP, Quality, Operations, Human Resources processes, among others. In 2020, the Company resumed its path of investing
in growth and innovation projects, as well as maintaining investments related to compliance with product standardization and quality standards.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Corporate year ended December 31, 2019</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Investments made in 2019 totaled R$1,319,415
thousand. Among the highlights: (i) execution of projects to meet the demand of industrialized products in the Internal Market at the
Serop&eacute;dica Factory (RJ), (ii) implementing the concepts of Industry 4.0 in chicken slaughterhouses, (iii) systems for optimizing
processes of production and sales planning and (iv) process improvements and Human Resources management.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2019, as in 2018, the Company prioritized
investments to comply with regulations and to adapt its asset base to the principles of safety and quality.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>The main capital expenditures in 2021 are
described below:</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Demand</B>: Despite the challenging scenario
resulting, among other factors, from the COVID-19 pandemic, in 2020, the Company continued with expansion projects with an increase in
the pig slaughtering capacity for the foreign and Brazilian market, adding value to the <I>mix</I> of products, mainly in chicken proteins,
as well as investing in cold cuts and sausages for the domestic market and innovation items.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Efficiency. </B>In 2020, in addition to
finalizing projects arising from previous periods, it also started investing in projects to improve the integrated planning system, process
optimization for the use of raw materials, automation in industrial units and process digitization.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Quality, people and sustainability.</B>
In 2020, the Company focused on projects to improve and control production processes in slaughterhouses, feed plants and farms, modernization
of laboratories and product quality, in addition to compliance and corporate governance items.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B><U>Expected Investments until 2030</U></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Plan <I>Vision 2030</I></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In December 2020, the Company announced its
&quot;Plan Vision 2030&quot;, an investment plan that is currently in effect. Through this plan, the Company expects to invest more than
R$55 billion, focusing on strengthening its leadership position as a global food company with high added value, strong brands, quality
products among the most admired by consumers, providing higher return and margin expansion, with the establishment of a prudential limit
for net financial leverage (ratio between net debt and Adjusted EBITDA for the previous 12 months) of up to 3 times.The Company will also
aim to establish a local international presence in some of the largest value-added consumer centers in the world and expand its share
of the Brazilian ready-to-eat meal market, increasing its presence in the high-value pork and pet markets. aggregate, in addition to the
production of meat substitutes and new protein sources, in which a significant transformation in the food industry is expected. In this
context, the Company expects that, by the end of this decade, approximately 70% of its revenue will come from its portfolio of high added
value products. The Vision 2030 Plan also includes a macro sustainability plan with public commitments involving Environmental, Social
and Governance (&ldquo;ESG&rdquo;) resources. As of 2021, the Company's management began to set goals related to ESG and, in January 2021,
a new Vice President of Institutional Relations, Reputation and Sustainability was appointed to support the advancement of the Company's
ESG agenda.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">One of the main objectives of the Vision 2030
Plan is to make the Company one of the two largest pet food companies in Brazil by 2025. Brazil is the second largest world market for
products <I>pet</I> , after the United States, with a market value of BRL 20 billion in 2020. It is estimated that the market potential
for products <I>pet</I> total approximately R$40 billion by 2030. The growth is mainly driven by the verticalization of cities and the
humanization of animals, which brings different feed needs. Brands are expected to <I>premium</I> of pet food are the most favored by
consumers. The Company is already present in this segment for the main retail channels, including supermarkets (about 30% of the market)
and the specialized trade channel (remaining 70% of the market). In 2021, the Company concluded the acquisition of Mogiana and Hercosul,
adding strong and traditional brands, a robust industrial park and expertise in the specialized channel. With the operation, the Company
was able to be among the 3 largest groups in terms of share in the Pet Food segment in Brazil, market leaders in Uruguay and the 2nd player
in Paraguay.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">To serve this segment, the synergies with the
Company's production chain provide it with competitive advantages in terms of costs and quality. The Company is already the second largest
animal feed producer in the southern hemisphere. The Company is one of the main producers of feed formulation ingredients.
The Company hopes that this condition will help it achieve greater efficiency and lower production costs, both because of the scale of
its grain purchases and because of its access to specific materials, such as hydrolyzed protein and special oils, which are produced and
distributed by the Company to the feed market. The Company believes that these synergies provide it with competitive advantages in the
pet food market that are difficult for other companies to replicate. In addition, the Company has access to the distribution channel of
the traditional retail segment and plans to develop its capabilities in the specialized retail market and in the technical products market.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company also believes that this new path
of anticipated growth for Brazil can be replicated in other regions and geographies in which it operates, offering new opportunities and
new growth paths in the future.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(ii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sources
of Financing for Investments </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company has funds from operating cash generation,
as well as lines of credit with financial and development institutions, including loans with the objective of encouraging rural activities
and issuance of debt securities in the local and international capital markets (see item 10.1 .f for details on relevant loan and financing
agreements).</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(iii) Relevant divestment in progress and
expected divestment </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2020, the Company divested a total of R$56,546
thousand related to the sale of non-strategic assets related to the annual divestment plan.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>b.if already disclosed, indicate the acquisition
of plants, equipment, patents or other assets that may materially affect the issuer's production capacity </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;new
products and services</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>i. Description of ongoing research already
published </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2021, 234 new products were launched for
consumers, of which 87 were launched in the Brazilian market and 128 in the international market. Among the launches in the international
market, 48 were in the Asia region, 38 in the Halal market and 71 in other operations with direct exports. We also launched 19 SKUs in
our PET segment, following the acquisition of Grupo Hercosul and Mogiana</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's Research, Development and Innovation
(&ldquo;R&amp;D&amp;I&rdquo;) activities comprise agricultural research and innovation and the research and development of products and
processes. The Product Research and Development team is located in Jundia&iacute;, in the State of S&atilde;o Paulo, where BRF is located.
<I>Innovation Center</I> (&ldquo;BIC&rdquo;). From the BIC, all products destined for the National Market are developed and exported from
the production platform in Brazil. Research and Development activities also involve the development and optimization of primary and secondary
packaging, as well as the application of graphic arts and technical product information.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The area of agricultural RD&amp;I currently
has researchers dedicated to innovation and production support activities, some of whom have PhDs, others have masters and many have specialization
in the area of animal production. In addition to corporate researchers, the Company has a vast team of veterinarians, agronomists and
zootechnicians working directly in the production system.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company develops a trainee and internship
program, as well as encourages its employees to take postgraduate courses. In 2019, the Company started a new program called &ldquo;Doctors
of Agro&rdquo;, under which five PhD vacancies were created with the aim of developing specific projects in different areas: nutrition, animal improvement,
animal health, swine production and management of animals. birds. As
a result, one of these doctors has already been incorporated into the Company's staff.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company has an experimental research structure
for poultry and swine, with an experimental feed factory and 19 experimental sheds, which are distributed in four experimental farms,
located in the State of Santa Catarina, with a total of 1,380 experimental pens for evaluation of the characteristics impact on the production
chain. In addition, the Company has seven bromatological laboratories , seven laboratories with near-infrared spectroscopy (NIRS &ndash;
<I>Near Infrared Spectroscopy</I> ) for receiving grain and five laboratories animal health that support research activities and the operation
.. For the year 2021, the Company is expanding its capacity with a new animal health laboratory in Toledo/PR .</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In 2019, in line with the strategy to develop
pork consumption in Brazil, the Company launched a robust protein portfolio with Sadia everyday cuts, seasoned cuts for Perdig&atilde;o
Na Brasa barbecue and seasoned commemorative cuts for Sadia Christmas.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Reflecting its leadership position as the most
innovative brand, in 2020, under the Sadia brand, several products were launched that bring more practicality to the consumer's daily
life, such as: Mac'n Cheese line, a young and pioneering dish concept in Brazil frozen ready that is ready in 5 minutes in the microwave;
new line of Sadia Na Receita products, a portfolio of pre-prepared chickens such as shredded, cubed and strips, to assist in the preparation
of recipes and the Sadia Marinados line, with cuts of chicken lightly seasoned with ingredients such as salt, onion and garlic. The Company
also launched Sadia Veg&amp;Tal, its line focused on vegan and vegetarian consumers, which offers a portfolio of products such as vegetable
burgers, frozen vegetables and frozen pies. In addition, the Sadia Speciale sub-brand was launched, with a portfolio of higher added value,
such as parma-style ham and the new raw ham and salami with pepper rims. Under the Ouro Perdig&atilde;o brand, the line of mini sausages
was launched, continuing the process of expanding the portfolio in the appetizers and snacks category. The Perdig&atilde;o frozen pizza
portfolio was also launched, which will ensure the brand's visibility in the main market in the category. With the Qualy brand, the Qualy
Vita line was launched, made with vegetable oils and a source of Omega 6, an essential nutrient for heart care. Finally, the Company also
expanded the Qualy brand portfolio with butter, cream cheese and frozen cheese breads.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">During 2021, in addition to strengthening and
expanding the lines launched in the last two years, we maintained our strategy of building increasingly segmented consumer platforms.
We highlight as a novelty the launch of Livre&amp;Lev, a sub-brand of Sadia, which focuses on well-being and is characterized as a line
free of excesses and light in ingredients, specially developed to deliver more naturalness with fewer known ingredients, free of additives.
Composed of cold cuts (ham and turkey breast) and ready meals (meals in portions, which allow different combinations and wraps). Another
important initiative was the launch of the 100% Vegetal Chicken line by Sadia Veg&amp;Tal, comprising 3 SKUs (shredded chicken, in strips
and cubes), and officially the 1st line of carbon-neutral chickens on the market, whose emissions are neutralized from the grain to the
point of sale through the purchase of carbon credits from forest conservation projects. The announcement was made during the COP26 climate
conference in Scotland. The releases were awarded: First Place in the ESG Category and Winner in the Impact Projects Category 2021, both
presented by the Grow Innovation Awards</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>ii. Total amounts spent by the issuer on
research for the development of new products or services</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In the fiscal year ended December 31, 2021,
the Company spent R$244 million on Research, Development and Innovation activities. In the years 2015 to 2018, the Company also considered
as R&amp;D&amp;I expenses the amounts of fixed expenses entered in the cost centers of the managements linked to these activities, as
well as the amounts spent as consumables in experimental research tests and field research of agricultural R&amp;D&amp;I projects, which
is why there is an increase in value in such exercises.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company understands that investing in R&amp;D&amp;I
is a key factor in maintaining its competitive advantages, whether to optimize its production chain, improving sustainability, as well
as launching innovative products, meeting the expectations and needs of consumers, customers and markets.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>iii. Projects in development already announced
</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company has its own swine breeding program,
which is competitive with the programs of international genetics companies. This program currently serves, by choice, 70% of the Company's
production. The program has six core farms in the State of Santa Catarina, with a staff of 136 active employees, one farm in the State
of Goi&aacute;s, with a staff of 42 active employees, in addition to a farm <I>backup</I> in the state of Minas Gerais. Today, the Company
has a tissue bank with more than 610,000 samples of genetic material and a series of works were carried out to incorporate the genomic
evaluation and in 2021 it will begin the process of selecting animals using genomic genetic values. To make this technological leap possible,
the Company established partnerships with six centers of the Brazilian Agricultural Research Corporation - EMBRAPA, research centers,
universities and research and development bodies (BNDES, Finep, CNPq and FAPESP) and formed a team of seven geneticists.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In recent years, research partnerships were
established in projects financed by EMBRAPA, FINEP, CNPq, BNDES, and, since 2009, the Company has benefited from tax recovery under the
Lei do Bem, in the years in which it calculates taxable income. This law introduced a tax incentive related to Research, Development and
Technological Innovation. The law defines &ldquo;technological innovation&rdquo; as the creation of a new product or production process,
with new functionalities or characteristics that bring increased improvements and effective gains in quality or productivity, resulting
in stronger market competitiveness. The main feature of the mechanism of this tax incentive is the exclusion of expenses to determine
the amount of income tax and social contribution that is charged on net income.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's integrated agricultural innovation
process starts from interfaces with companies and research centers, characterized by the sharing of the use of physical structures and
technical staff, to solve the main demands for the development of joint work, but mainly resulting in the feedback of new proposals of
innovation from the technological development network itself.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">BIC's R&amp;D&amp;I team works together with
the Quality Assurance area to adopt international quality assurance practices, <I>food safety</I> and <I>food fraud,</I> in addition to
the development of follow-up systems for monitoring industrial products and processes.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">In March 2021, the Company signed a Memorandum of
Understanding (&ldquo;MOU&rdquo;) with Aleph Farms, Ltd, an Israeli startup that develops proteins in the laboratory from animal cells.
The agreement aims at: (i) the development and production of cultured meats using Aleph Farms' patented production (BioFarm&trade;); and
(ii) the exclusive distribution of Aleph Farms' cultivated proteins in Brazil. On July 7, 2021, the Company announced, through a notice
to the market, that it participated in the investment round (Series B) promoted by Aleph, in the amount of US$2,500,000.00 (two million,
five hundred thousand US dollars).</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In line with its &ldquo;Vision 2030&rdquo;
plan, in which one of the aforementioned growth avenues is &ldquo;meat substitutes&rdquo;, this partnership will strengthen business generation
and diversification to meet growing consumer demands for a greater variety of alternative proteins. . In addition to the commercial potential
in the Brazilian market, this partnership will also reinforce the sustainability, innovation and food safety commitments adopted by the
two companies.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>iv. Total amounts spent by the issuer in
development of new products or services </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In the fiscal year ended December 31, 2021,
the Company invested R$42,010 thousand in Research, Development and Innovation activities. In 2019, in line with the strategy to develop
pork consumption in Brazil, the Company launched a robust protein portfolio with Sadia everyday cuts, seasoned cuts for Perdig&atilde;o
Na Brasa barbecue and seasoned commemorative cuts for Sadia Christmas.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Reflecting its leadership position as the most
innovative brand, in 2020, under the Sadia brand, several products were launched that bring more practicality to the consumer's daily
life, such as: Mac'n Cheese line, a young and pioneering dish concept in Brazil frozen ready that is ready in 5 minutes in the microwave;
new line of Sadia Na Receita products, a portfolio of pre-prepared chickens such as shredded, cubed and strips, to assist in the preparation
of recipes and the Sadia Marinados line, with cuts of chicken lightly seasoned with ingredients such as salt, onion and garlic. The Company
also launched Sadia Veg&amp;Tal, its line focused on vegan and vegetarian consumers, which offers a portfolio of products such as vegetable
burgers, frozen vegetables and frozen pies. In addition, the Sadia Speciale sub-brand was launched, with a portfolio of higher added value,
such as parma-style ham and the new raw ham and salami with pepper rims. Under the Ouro Perdig&atilde;o brand, the line of mini sausages
was launched, continuing the process of expanding the portfolio in the appetizers and snacks category. The Perdig&atilde;o frozen pizza
portfolio was also launched, which will ensure the brand's visibility in the main market in the category. With the Qualy brand, the Qualy
Vita line was launched, made with vegetable oils and a source of Omega 6, an essential nutrient for heart care. Finally, the Company also
expanded the Qualy brand portfolio with butter, cream cheese and frozen cheese breads.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="background-color: white">During
2021, in addition to strengthening and expanding the lines launched in the last two years,</FONT> the company <FONT STYLE="background-color: white">maintained
its strategy of building increasingly segmented consumer platforms. A novelty is the launch of Livre&amp;Lev, a sub-brand of Sadia, which
focuses on well-being and is characterized as a line free of excesses and light in ingredients, specially developed to deliver more naturalness
with fewer ingredients, free of additives. The Livre&amp;Lev line is mainly composed of cold cuts (ham and turkey breast) and ready meals
(portioned meals, which allow different combinations and wraps). Another important initiative was the launch of the 100% Vegetal Chicken
line by Sadia Veg&amp;Tal, comprising 3 SKUs (shredded chicken, in strips and cubes), officially the 1st line of carbon-neutral chicken
on the market, whose emissions are neutralized from the grain to the point of sale through the purchase of carbon credits from forest
conservation projects. The announcement was made during the COP26 climate conference in Scotland. The releases were awarded first place
in the ESG Category and Winner in the 2021 Impact Projects Category, both delivered by the Grow Innovation Awards.</FONT></P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>10.9 - Other factors with significant influence
</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company was the subject of two external
investigations called &ldquo;Opera&ccedil;&atilde;o Carne Fraca&rdquo; in 2017 and &ldquo;Opera&ccedil;&atilde;o Trapa&ccedil;a&rdquo;
in 2018, as detailed below. The Company's Audit and Integrity Committee conducted independent investigations in conjunction with the Independent
Investigation Committee, formed by external members, and external legal advisors in Brazil and abroad, regarding allegations involving
the Company's employees and former employees. On February 25, 2021, the Enforcement Division of the <I>Securities and Exchange Commission</I>
(&ldquo;SEC&rdquo;) issued a letter to the Company, stating, among other matters, that it concluded an investigation against BRF and that,
based on the information it has up to that date, it does not intend to recommend any enforcement action by the SEC against the Company
in relation to the Operations Cheating and Carne Fraca. On May 5, 2021, the Company was informed by the United States Department of Justice
that it also concluded its investigations against BRF within the scope of Opera&ccedil;&atilde;o Carne Fraca and Opera&ccedil;&atilde;o
Trapa&ccedil;a, having not applied any sanctions or penalties against the Company.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">The main impacts observed as a result of these investigations
were recorded in Other Operating Expenses in the amount of R$9,003 for the fiscal year closed on 12.31.21 (R$28.004 in the same period
of the previous year), mainly referring to expenses with lawyers, advisory and consulting services.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Detailed information on such investigations
and their potential effects on the financial statements is shown in note 1.5 to the consolidated financial statements 12.31.21 and 1.2
to the 2020 financial statements.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B><U>Analysis of the impacts of COVID-19 on the Company's
activities</U></B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify; background-color: white">As described in the
risk factor contained in item 4.1 of this Reference Form, entitled &ldquo; <I>Pandemics or outbreaks of human diseases, such as the novel
coronavirus (COVID-19), can cause changes in consumption and trade patterns, supply chains and production processes, as well as disruptions
in production and product shipments, which could significantly harm the Company's operations and results of operations</I> &quot;, the
Company's business, operations and financial condition could be materially and adversely affected by the spread of epidemics, pandemics
or other public health crises, including the novel coronavirus (COVID-19).</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">On 31.01.20, the World Health Organization announced
that COVID-19 is a global health emergency and on 11.03.20 it started treating the disease as a pandemic. The outbreak triggered significant
decisions by governments and private sector entities, which, added to their potential impact, increased the degree of uncertainty for
economic agents and could generate effects on the amounts recognized in the interim financial information.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">BRF continues to operate its industrial complexes,
distribution centers, logistics, supply chain and support offices, albeit temporarily and partially on a remote work basis in some of
its corporate locations. Thus, until December 31, 2021, there was no material change in its production, operation and/or commercialization
schedule. Additionally, management has developed and implemented several contingency plans to support its operations and monitors the
effects of the pandemic through a permanent multidisciplinary monitoring committee, made up of executives, specialists in the field of
infectious diseases and hired consultants.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">Due to the pandemic, the Company incurred direct expenses,
mainly related to transportation, personnel, prevention, control and donations, which are presented in the quarterly information under
the following headings:</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><IMG SRC="brf202202256k2_004.jpg" ALT=""><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">In the fiscal year ended on 12.31.20,
it includes non-incremental expenses related to idleness in the amount of R$55,926.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">Management considered in its projections of results
and cash flows, within its best knowledge, the effects and uncertainties of the pandemic. Due to the high volatility and uncertainty about
the duration and impact of the pandemic, the Company will continue to monitor the situation and assess the impacts on the assumptions
and estimates used in the preparation of the financial information. In addition, as a result of the social distancing measures imposed
by the competent authorities, customers in regions where the Company operates are being impacted, mainly by restrictions on meetings or
face-to-face contacts, which may lead to a reduction in the consumption of the Company's products. One of the consequences of the pandemic
could also be the destabilization of the prices of <I>commodities</I> or from the economies and financial markets of many countries, resulting
in an economic slowdown that could affect demand for the Company's products and, thus, have a material adverse effect on the Company's
operating results. Any deterioration in the credit cycle of the Company's customers, as a result of the pandemic or the measures implemented
to face it, could adversely affect the Company's results and cash flows.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's operations include global production
and distribution facilities and if there are many cases of COVID-19 contamination in the facilities or communities where the Company operates
and distributes its products, productions, operations, employees, suppliers, customers and distribution channels can be impacted. In addition,
ports and other entry channels may be closed or start to operate with a small part of capacity, as workers may be banned or even unable
to attend work, as well as the transport of products within regions or countries may also be limited in view of potential transport restrictions
related to quarantines or travel bans.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In addition, the countries to which the Company
exports its products may restrict the importation of the Company's products; of products produced by its partners; or on all or some food
products in Brazil, based on concerns related to COVID-19.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">From the beginning of the pandemic until the
moment of the disclosure of this form, BRF operated and continues to operate its industrial complexes, distribution centers, logistics,
supply chain and support offices, even if (i) temporarily and partially in a work regime remote at some of its corporate locations; and
(ii) closed the Lajeado plant for a week in May 2020 and the Rio Verde plant for 14 days in June 2020, as a result of cases of contamination
by COVID-19. Thus, until the date of this Reference Form, there was no relevant change in its production, operation and/or commercialization
schedule. Additionally, management has developed and implemented several contingency plans to maintain its operations and monitors the
effects of the pandemic through a permanent multidisciplinary monitoring committee, made up of executives, specialists in the field of
infectious diseases and hired consultants.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company approved the donation of food,
medical supplies and other support to research and social development funds, in the approximate amount of R$100 million, in order to contribute
to efforts to combat the effects of the COVID-19 pandemic, including support for hospitals, philanthropic entities, social assistance
organizations and health professionals in the states and municipalities in which it operates.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In order to preventively reinforce its
level of liquidity, the Company contracted financing lines with financial institutions in Brazil, with funding in the aggregate
amount of R$2,429,211 thousand and an average term of approximately
one year, without any clauses of <I>covenants</I> financial. During the months of July and August 2020, the Company carried out early
settlement operations for part of the aforementioned financing lines, in the amount of aggregate principal and interest of R$2,094,555
thousand (note 15.5 of the 2020 financial statements). For 2021, in line with the strategy of diversifying funding sources and optimizing
the term/cost ratio, in the last quarter of 2021, the Company contracted R$937 million in trade finance operations and settled of R$ 249
million in short-term trade finance operations. Currently, the Company has R$3 billion undrawn and available under a revolving credit
facility with Banco do Brasil.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company has adopted a series of guidelines
as part of its Financial Risk Management Policy to ensure the maintenance of an adequate level of liquidity, establishing minimum cash
and liquidity requirements, in accordance with future expectations and obligations. The current liquidity position is considered adequate
by the Company taking into account payment obligations, including through capital expenditure plans, in line with its Vision 2030 Plan.
However, the Company recognizes that any unfavorable operating results may have an adverse impact on its financial metrics, such as leverage.
At the same time, increases in overall customer delinquency rates may occur in relation to the pandemic and, as a result, an increase
in bad debt losses. The possible deterioration in the credit cycle of its customers could adversely affect the Company's results, financial
position and cash flows in the future.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The recent increase in the volatility of market
risks significantly affected the fair value of the Company's assets and liabilities, mainly considering the large variations in exchange
rates. In addition, the increased uncertainty of projections has increased the challenge of accurately valuing some of the assets and
liabilities. However, the method used for this valuation was not significantly altered and the financial statements were prepared in a
timely manner. The Company's management took into account the effects and uncertainties related to the pandemic in the projections of
its results and cash flows.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify; background-color: white">Management considered
in its projections of results and cash flows, to the best of its knowledge, the effects and uncertainties of the pandemic. As described
in note 14.1 of the 2020 financial statements, no adjustments were identified to reduce the balances of cash-generating units to recoverable
value. Due to the high volatility and uncertainty about the duration and impact of the pandemic, the Company will continue to monitor
the situation and assess the impacts on the assumptions and estimates used in the preparation of the financial statements.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">For more information on the risks and measures
adopted by the Company in relation to the COVID-19 pandemic, see item 4.1 of this Reference Form, entitled &quot; <I>Pandemics or outbreaks
of human diseases, such as the novel coronavirus (COVID-19), can cause changes in consumption and trade patterns, supply chains and production
processes, as well as disruptions in production and product shipments, which could significantly harm the Company's operations and results
of operations</I> &quot;, item 10.1.a - General Financial and Equity Conditions and item 5.6 - Other relevant information.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: bold 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: bold 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">BRF S.A.</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Attachment II &ndash; Information on the allocation
of net income (Annex 9-1-II of CVM Instruction No. 481, of December 17, 2009)</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Inform net income for the year</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The net income for the year was R$419,454,967.88
(four hundred and nineteen million, four hundred and fifty-four thousand, nine hundred and sixty-seven reais and eighty-eight cents).</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Inform the global amount and the amount per share of dividends, including prepaid dividends and interest on equity already declared:</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Inform the percentage of net income for the year distributed:</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The profit for the fiscal year ended on December
31, 2021 was fully used to offset the balance of accumulated losses, in accordance with the provisions of article 189 of Law No. 6,404/1976,
which, as a result of such offset, will become be R$ 2,132,230,509.69 (two billion, one hundred and thirty-two million, two hundred and
thirty thousand, five hundred and nine reais and sixty-nine cents).</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Inform the global amount and the value per share of dividends distributed based on profit from previous years</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Inform, deducting the anticipated dividends and interest on equity already declared:</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The gross amount of dividends and interest on equity, segregated, per share of each type and class</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The form and term of payment of dividends and interest on equity</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Eventual restatement and interest on dividends and interest on equity</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">d.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Date of disclosure of payment of dividends and interest on equity considered for identification of shareholders who will be entitled
to receive them</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> If there has been a declaration of dividends or interest on equity based on profits determined in half-yearly balance sheets or
in shorter periods</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Inform the amount of dividends or interest on equity already declared</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Inform the date of the respective payments</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Provide a comparative table indicating the following values per share of each type and class:</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Net income for the year and the 3 (three) previous years</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 22%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 20%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">2021</TD>
    <TD STYLE="width: 20%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">2020</TD>
    <TD STYLE="width: 20%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">2019</TD>
    <TD STYLE="width: 18%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">2018</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">Amount per share (R$)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif">0.52</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif">1.71</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif">0.37</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif">(5.48)</TD></TR>
  </TABLE>
<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Dividend and interest on own capital distributed in the previous 3 (three) years</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%; font-weight: bold">2020</TD>
    <TD STYLE="width: 24%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%; font-weight: bold">2019</TD>
    <TD STYLE="width: 24%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 107%; font-weight: bold">2018</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">Dividends</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif">N/A</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif">N/A</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif">N/A</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold">Interest on equity</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif">N/A</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif">N/A</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif">N/A</TD></TR>
  </TABLE>
<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If profits are allocated to the legal reserve</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Identify the amount allocated to the legal reserve</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Detail how to calculate the legal reserve</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Company has preferred shares entitled to fixed or minimum dividends</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Describe how fixed or minimum dividends are calculated</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable, as the Company's capital stock
is exclusively divided into common shares.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Inform whether the profit for the year is sufficient for the full payment of fixed or minimum dividends</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>
<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable, as the Company's capital stock
is exclusively divided into common shares.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Identify whether any unpaid installments are cumulative</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable, as the Company's capital stock
is exclusively divided into common shares.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">d.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Identify the global value of fixed or minimum dividends to be paid to each class of preferred shares</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable, as the Company's capital stock
is exclusively divided into common shares.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">e.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Identify the fixed or minimum dividends to be paid per preferred share of each class</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable, as the Company's capital stock
is exclusively divided into common shares.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Regarding the mandatory dividend</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Describe the form of calculation provided for in the articles</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">In accordance with article 36 of the Bylaws, after
deducting any accumulated losses and the provision for Income Tax and after the allocation of the profit to the legal reserve, 25% (twenty-five
percent) of the net income must be paid as of mandatory dividend.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>b. Inform if it is being paid in full</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">There will be no declaration and payment of dividends,
considering that the profit for the fiscal year ended on December 31, 2021 was fully used to offset the balance of accumulated losses,
in accordance with the provisions of article 189 of Law No. 6,404/1976.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Inform the amount eventually withheld</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the mandatory dividend is retained due to the company's financial situation</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Inform the retention amount</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Describe, in detail, the company's financial situation, including aspects related to liquidity analysis, working capital and positive
cash flows</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>


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<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Justify the retention of dividends</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If there is allocation of income to the contingency reserve</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Identify the amount allocated to the legal reserve</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Identify the probable loss and its cause</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Explain why the loss was considered probable</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">d.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Justify the constitution of the reserve</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If there is allocation of income to the unrealized profit reserve</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Inform the amount allocated to the unrealized profit reserve</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Inform the nature of unrealized profits that gave rise to the reserve</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If there is allocation of income to statutory reserves</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Describe the statutory clauses that establish the reserve</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Identify the amount allocated to the legal reserve</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Describe how the amount was calculated</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">15.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If profit retention is provided for in the capital budget</P>
<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> Identify the retention amount</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Provide a copy of the capital budget</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">16.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If there is allocation of income to the tax incentive reserve</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Inform the amount allocated to the reserve</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Explain the nature of the destination</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: bold 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: bold 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">BRF S.A.</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Attachment III &ndash; Information on candidates
for the positions of members of the Board of Directors (Items 12.5 to 12.10 of the Reference Form, according to CVM Instruction No. 480,
of December 7, 2009)</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">12.5. Composition and professional experience
of candidates for positions on the Board of Directors</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 28%; border: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Name</TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of birth</TD>
    <TD STYLE="width: 22%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">administration body</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of election</TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Term of Office</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">CPF</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Occupation</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elective position held</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Possession Date</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elected by the Controller</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Other positions held in the issuer</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">No. of Consecutive Mandates</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Independent Member</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Marcos Antonio Molina dos Santos</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">01/17/1970</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Belongs only to the Board of Directors</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">102.174.668-18</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Businessman</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center; "><FONT STYLE="">Board
    of Directors (effective)</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center; ">&nbsp;</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center; "><FONT STYLE="">Chairman
    of the Board of Directors</FONT></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 29%; border: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Name</TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of birth</TD>
    <TD STYLE="width: 22%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">administration body</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of election</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Term of Office</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">CPF</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Occupation</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elective position held</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Possession Date</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elected by the Controller</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Other positions held in the issuer</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">No. of Consecutive Mandates</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Independent Member</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Marcia Aparecida Pascoal Mar&ccedil;al dos Santos</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">03/28/1973</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Belongs only to the Board of Directors</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">182.070.698-21</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Businesswoman</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center; "><FONT STYLE="">Board
    of Directors (effective)</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; ">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 29%; border: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Name</TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of birth</TD>
    <TD STYLE="width: 22%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">administration body</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of election</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Term of Office</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">CPF</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Occupation</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elective position held</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Possession Date</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elected by the Controller</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Other positions held in the issuer</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">No. of Consecutive Mandates</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Independent Member</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Flavia Maria Bittencourt</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">15/01/1970</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Belongs only to the Board of Directors</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">04/27/2020</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">OGM 2022</FONT></TD></TR>

<TR>
    <TD STYLE="border-right: Black 1pt solid; width: 29%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">011.971.887-11</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 21%; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Chemical Engineer</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 22%; border-bottom: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center; "><FONT STYLE="">Independent
    Board of Directors (effective)</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center; ">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 13%; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">04/30/2020</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 15%; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Member of People, Governance, Organization and Culture Committee and Quality and Sustainability Committee</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">1st term of office</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Yes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 29%; border: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Name</TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of birth</TD>
    <TD STYLE="width: 22%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">administration body</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of election</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Term of Office</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">CPF</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Occupation</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elective position held</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Possession Date</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elected by the Controller</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Other positions held in the issuer</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">No. of Consecutive Mandates</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Independent Member</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Augusto Marques da Cruz Filho</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">10/16/1952</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Belongs only to the Board of Directors</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">04/27/2020</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">OGM 2022</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">688.369.968-68</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Economist</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center; "><FONT STYLE="">Independent
    Board of Directors (effective)</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; ">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">04/30/2020</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Member of the Audit and Integrity Committee</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">2nd term of office</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Yes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 29%; border: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Name</TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of birth</TD>
    <TD STYLE="width: 22%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">administration body</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of election</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Term of Office</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">CPF</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Occupation</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elective position held</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Possession Date</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elected by the Controller</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Other positions held in the issuer</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">No. of Consecutive Mandates</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Independent Member</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">S&eacute;rgio Agapito Lires Rial</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">07/28/1960</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Belongs only to the Board of Directors</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">595.644.157-72</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Economist</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center; "><FONT STYLE="">Board
    of Directors (effective)</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center; ">&nbsp;</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center; "><FONT STYLE="">Vice-Chairman
    of the Board of Directors</FONT></P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">1st term of office</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 29%; border: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Name</TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of birth</TD>
    <TD STYLE="width: 22%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">administration body</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of election</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Term of Office</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">CPF</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Occupation</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elective position held</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Possession Date</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elected by the Controller</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Other positions held in the issuer</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">No. of Consecutive Mandates</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Independent Member</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Altamir Bastita Mateus da Silva</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">01/12/1975</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Belongs only to the Board of Directors</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>

<TR>
    <TD STYLE="border-right: Black 1pt solid; width: 29%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">116.841.118-77</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 21%; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Company&rsquo;s Administrator </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 22%; border-bottom: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center; "><FONT STYLE="">Independent
    Board of Directors (effective)</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center; ">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 13%; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 15%; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Yes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 29%; border: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Name</TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of birth</TD>
    <TD STYLE="width: 22%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">administration body</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of election</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Term of Office</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">CPF</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Occupation</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elective position held</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Possession Date</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elected by the Controller</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Other positions held in the issuer</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">No. of Consecutive Mandates</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Independent Member</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Deborah Stern Vieitas</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">07/21/1957</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Belongs only to the Board of Directors</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">013.968.828-55</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Administrator and Journalist</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Independent Board of Directors (effective)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Yes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 29%; border: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Name</TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of birth</TD>
    <TD STYLE="width: 22%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">administration body</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of election</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Term of Office</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">CPF</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Occupation</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elective position held</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Possession Date</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elected by the Controller</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Other positions held in the issuer</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">No. of Consecutive Mandates</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Independent Member</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Oscar de Paula Bernardes Neto</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">08/05/1946</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Belongs only to the Board of Directors</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">037.057.307-20</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Chemical Engineer</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Independent Board of Directors (effective)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Yes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 29%; border: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Name</TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of birth</TD>
    <TD STYLE="width: 22%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">administration body</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of election</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Term of Office</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">CPF</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Occupation</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elective position held</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Possession Date</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elected by the Controller</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Other positions held in the issuer</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">No. of Consecutive Mandates</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Independent Member</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Pedro de Camargo Neto</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">01/22/1949</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Belongs only to the Board of Directors</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">297.279.878-34</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Civil Engineer</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Independent Board of Directors (effective)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Yes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  </TABLE>
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  <TR>
    <TD STYLE="width: 29%; border: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Name</TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of birth</TD>
    <TD STYLE="width: 22%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">administration body</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of election</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Term of Office</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">CPF</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Occupation</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elective position held</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Possession Date</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elected by the Controller</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Other positions held in the issuer</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">No. of Consecutive Mandates</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Independent Member</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Eduardo Augusto Rocha Pocetti</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">08/06/1954</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Belongs only to the Board of Directors</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">837.465.368-04</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Accountant</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Independent Board of Directors (effective)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  </TABLE>
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    <TD STYLE="width: 100%; border: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; "><FONT STYLE="">Marcos
    Antonio Molina dos Santos Brazilian Register of Individual Taxpayer &ndash; CPF 102.174.668-18</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify; "><FONT STYLE="">Mr.
    Marcos Antonio Molina dos Santos is chairman of Marfrig's Board of Directors. The executive has more than 30 years of experience in the
    food sector, having started his professional activity at the age of 16, when he opened his first business: a food distribution company.
    Since the incorporation of Marfrig, Marcos Molina has been actively involved with the Company's key customers, strengthening national
    and international commercial relationships, which enable the development and evolution of industrial and quality processes, aiming to
    exceed expectations in relation to the global scenario. Mr. Molina is also a partner and CEO of MMS PARTICIPA&Ccedil;&Otilde;ES LTDA.
    which is the Marfrig's parent company.</FONT></P>
    <P STYLE="font: 9pt/120% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify">Mr. Molina has not suffered, in the
    last five years, any conviction (i) criminal, (ii) in an administrative proceeding of the CVM or (iii) final and unappealable, in the
    judicial or administrative sphere, which has suspended or disqualified him from the practice of any professional activity or commercial.</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 8pt 0; text-align: justify; background-color: white">Mr. Marcos
    declared that he is not a Politically Exposed Person, pursuant to the provisions of CVM Resolution 50/21, as amended, as he does not fit
    into any of the situations that characterize a Politically Exposed Person.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; "><FONT STYLE="">Marcia
    Aparecida Pascoal Mar&ccedil;al dos Santos Brazilian Register of Individual Taxpayer &ndash; CPF 182.070.698-21</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify; "><FONT STYLE="">Mrs.
    Marcia Aparecida Pascoal Mar&ccedil;al dos Santos has been a member of the Company's Board of Directors since March 2007. She has extensive
    experience at Marfrig, having been responsible for the financial area from 2000 to 2006 and for the internal audit team from 2000 to 2006.
    In addition, Ms. Mar&ccedil;al dos Santos actively participates in the Marfrig Fazer e Ser Feliz Social Responsibility Institute, as Chief
    Executive Officer. Mrs. Marcia Aparecida Pascoal Mar&ccedil;al dos Santos is also a partner and vice-president of MMS PARTICIPA&Ccedil;&Otilde;ES
    LTDA. which is the Marfrig's parent company.</FONT></P>
    <P STYLE="font: 9pt/120% Tahoma, Helvetica, Sans-Serif; margin: 0.1pt 5.75pt 0 0; text-align: justify">Mrs. Marcia has not suffered, in
    the last five years any (i) criminal, (ii) criminal conviction in CVM administrative proceedings or (iii) finaljudgment, in the judicial
    or administrative sphere, that has suspended or inabilitated him for the practice of any professional or commercial activity.</P>
    <P STYLE="font: 9pt/120% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify">Mrs. Marcia declared that she is not
    a Politically Exposed Person, pursuant to the provisions of CVM Resolution 50/21, as amended, as she does not fit into any of the situations
    that characterize a Politically Exposed Person.</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; background-color: white">&nbsp;</P></TD></TR>
  </TABLE>

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    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; "><FONT STYLE="">Flavia
    Maria Bittencourt Brazilian Register of Individual Taxpayer &ndash; CPF 011.971.887-11</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify; "><FONT STYLE="">Mrs.
    Flavia Bittencourt holds a degree in Chemical Engineering from the Federal University of Rio de Janeiro &ndash; UFRJ, a postgraduate degree
    in Marketing at Escola Superior de Propaganda e Marketing &ndash; ESPM and an Executive MBA from Funda&ccedil;&atilde;o Dom Cabral. Mrs.
    Fl&aacute;via Bittencourt has a long history at Oi &ndash; Telemar, with more than 10 years of experience, in positions such as Product
    Manager (2001 &ndash; 2003), General Marketing Manager (2003 &ndash; 2005) and also held the position of Executive Director of Marketing
    (2005 &ndash; 2011). In addition, she was Marketing Director at L&aacute;cteos Brasil, co-founder of STORIES4FUN and Senior Vice President
    of Latin America at Sephora Brasil. Ms. Flavia served as a member of the Board of Directors of Lojas Marisa, between 2018 and 2019. She
    is currently CEO of Adidas and a member of the Board of Directors of Tim Brasil and Oncoclinicas. In addition to being a member of the
    Board of Directors, Ms. Flavia Bittencourt is also a member of the People, Governance, Organization and Culture Committee and of the Quality
    and Sustainability Committee and coordinates the Consumer Intelligence Committee.</FONT></P>
    <P STYLE="font: 9pt/120% Tahoma, Helvetica, Sans-Serif; margin: 0.05pt 5.75pt 0 0; text-align: justify">Mrs. Flavia Bittencourt has not
    suffered, in the last five years, any conviction (i) criminal, (ii) in an administrative proceeding of the CVM or (iii) final and unappealable,
    in the judicial or administrative sphere, which has suspended or disqualified her from the practice of a any professional or commercial
    activity.</P>
    <P STYLE="font: 9pt/107% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 8pt 0; text-align: justify">Mrs. Flavia Bittencourt declared
    that she is not a Politically Exposed Person, pursuant to the provisions of CVM Resolution 50/21, as amended, as she does not fit into
    any of the situations that characterize a Politically Exposed Person.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; "><FONT STYLE="">Augusto
    Marques da Cruz Filho Brazilian Register of Individual Taxpayer &ndash; CPF 688.369.968-68</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify; "><FONT STYLE="line-height: 115%; ">Mr.
    Augusto Marques completed the credits in the doctoral and postgraduate course in Economic Theory at the Institute of Economic Research
    (IPE) of the University of S&atilde;o Paulo, graduated in Economic Sciences at the Faculty of Economics and Administration of the University
    of S&atilde;o Paulo (FEA-USP), having attended the Insead Executive Program at the Institut Europ&eacute;en d'Aministration des Affaires.
    He worked at Grupo P&atilde;o de A&ccedil;&uacute;car for 11 years, going through the roles of executive director of the company, financial
    administrative director and, for two and a half years, as president director, until he left the position in 2005. Between 2005 and 2010,
    he was a member of the Board of Directors and Audit Committee of B2W. From April 2016 to August 2019, he held the position of Chairman
    of the Board of Directors of BR Distribuidora. He is currently a member of the Board of Directors of SIMPAR SA (formerly Grupo JSL SA)
    and General Shopping, in addition to serving as a member of the Board of Directors and coordinator of the Company's Audit and Integrity
    Committee. Mr. Augusto Marques has been Vice President of the Company&rsquo;s Board of Directors since April 2018 and coordinator of its
    Audit and Integrity Committee since April 2020</FONT><FONT STYLE="">.</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify">Mr. Augusto Marques da Cruz Filho has
    not suffered, in the last five years, any conviction (i) criminal, (ii) in an administrative proceeding of the CVM or (iii) final and
    unappealable, in the judicial or administrative sphere, which has suspended or disqualified him for the practice of any professional or
    commercial activity.</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify">Mr. Augusto Marques declared that he
    was not a Politically Exposed Person, pursuant to the provisions of CVM Resolution 50/21, as amended, as he does not fit into any of the
    situations that characterize a Politically Exposed Person.</P></TD></TR>
  </TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
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    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; "><FONT STYLE="">S&eacute;rgio
    Agapito Lires Rial Brazilian Register of Individual Taxpayer &ndash; CPF 595.644.157-72</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 9pt/120% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify">The professional career of Mr. Rial
    includes the positions of Chief Executive Officer of Marfrig Global Foods SA, Executive Vice President and Chief Financial Officer of
    Cargill and President of Banco Santander Brasil. He was also a member of Cargill's board of directors for nine years. He was president
    of Seara Alimentos SA, managing director of Bear Stearns &amp; Co. in New York, director of ABN AMRO Bank and member of the board of directors
    of ABN AMRO Bank in the Netherlands, as well as a member of the board of directors of Mosaic Fertilizers. He holds a degree in Law from
    the Federal University of Rio de Janeiro and in Economics from Universidade Gama Filho, as well as an MBA from IBMEC, in S&atilde;o Paulo,
    as well as specializations from Harvard Business School, Wharton School of Business, University of Pennsylvania and INSEAD. In France,
    he is currently Chairman of the Board of Directors of Santander Brasil, Chairman of the Board of Directors of Getnet and Universia Brasil,
    SA.</P>
    <P STYLE="font: 9pt/120% Tahoma, Helvetica, Sans-Serif; margin: 0.05pt 5.75pt 0 0; text-align: justify">Mr. S&eacute;rgio hereby declares
    that in the last 5 years, he: (i) has not been found guilty of any crime that has disqualified the practice of professional activity;
    (ii) has notsuffered any conviction in an administrative proceeding of the CVM and the penalties applied; or (iii) any final conviction
    inthe judicial or administrative court, which has suspended or disqualified him to practice aprofessional or commercial activity.</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 6pt 0; text-align: justify; background-color: white">Mr. S&eacute;rgio
    declared that he was not a Politically Exposed Person, pursuant to the provisions of CVM Resolution 50/21, as amended, as he does not
    fit into any of the situations that characterize a Politically Exposed Person.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0">Pedro de Camargo Neto Brazilian Register of Individual Taxpayer &ndash;
    CPF 297.279.878-34</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify; "><FONT STYLE="">Mr.
    Pedro is a Civil Engineer from the Polytechnic School of the University of S&atilde;o Paulo &ndash; 1972; Master of Science from the Massachusetts
    Institute of Technology &ndash; 1974 Doctor in Production Engineering from the Polytechnic School of the University of S&atilde;o Paulo
    &ndash; 1984; Farmer and rancher in the states of S&atilde;o Paulo, Mato Grosso do Sul and Piau&iacute; in the last 40 years. He is a
    Business Consultant, Secretary of Production and Marketing at MAPA, from 2001 to 2002 and President of the Brazilian Rural Society from
    1990 to 1993 and Vice-President from 2017 to 2019. Mr. Pedro hereby declares that in the last 5 years, he: (i) has not been found guilty
    of any crime that has disqualified the practice of professional activity; (ii) has notsuffered any conviction in an administrative proceeding
    of the CVM and the penalties applied; or (iii) any final conviction inthe judicial or administrative court, which has suspended or disqualified
    him to practice aprofessional or commercial activity.</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify; "><FONT STYLE="">Mr.
    Pedro declared that he is not a Politically Exposed Person, pursuant to the provisions of CVM Resolution 50/21, as amended, as he does
    not fit into any of the situations that characterize a Politically Exposed Person.</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; "><FONT STYLE="">Oscar
    De Paula Bernardes Neto Brazilian Register of Individual Taxpayer &ndash; CPF 037.057.307-20</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify; "><FONT STYLE="">Mr.
    Oscar holds a degree in Chemical Engineering from the Federal University of Rio de Janeiro; Oscar is a partner at Yguapor&atilde; Consultoria
    e Empreendimentos Ltda, a consulting and investment firm in S&atilde;o Paulo since 1999. From 2004 to 2011, he was a partner at Integra
    Associados &ndash; Reestrutura&ccedil;&atilde;o Empresarial Ltda., a consulting firm specializing in restructuring, M&amp;A and crisis
    management. From 1999 to 2003 he was Chairman of the Board of TIW do Brasil, a Canadian telecommunications company, and from 1996 to 1999
    he was chairman of Bunge International, a global leader in the agribusiness and food sector. Prior to joining Bunge, he was Senior Vice
    President and Partner at Booz Allen and Hamilton for Latin America. Previously, he was director of operations in Brazil at Ferro Corporation.
    Mr. Oscar is a member of the boards of the following companies: DASA, Laborat&oacute;rios da Am&eacute;rica SA &ndash; Brazil &ndash;
    since 2011; Locates Rent a Car SA &ndash; Brazil &ndash; since 2007; Mosaic &ndash; USA &ndash; since 2018; Votorantim Participa&ccedil;&otilde;es
    &ndash; Brazil &ndash; since 2015; Jalles Machado &ndash; since 2019, chairman of the Board of Directors since 2020. Mr. Oscar was also
    a member of the following Omni Brasil Boards of Directors &ndash; from 2011 to 2020; Marcopolo SA &ndash; Brazil &ndash; 2012 to 2019;
    Praxair - USA - 2010 to 2018; GERDAU SA &ndash; Brazil &ndash; 2003 to 2016; Metal&uacute;rgica GERDAU SA &ndash; Brazil &ndash; 2003
    to 2016; Vanguarda (Strategic Committee) &ndash; Brazil &ndash; 2012 to 2015; Cia Suzano de Papel e Celulose &ndash; Brazil - 2005 to
    2015; ALCOA - Brazil - 2003 to 2015; BUNGE- Brazil &ndash; 1999 to 2013; Johnson Electric Holdings Ltd. &ndash; Hong Kong &ndash; 2003
    to 2011; S&atilde;o Paulo Alpargatas SA &ndash; Brazil &ndash; 2006 to 2012; DELPHI &ndash; USA &ndash; 1999 to 2000.</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify; "><FONT STYLE="">Mr.
    Oscar hereby declares that in the last 5 years, he: (i) has not been found guilty of any crime that has disqualified the practice of professional
    activity; (ii) has notsuffered any conviction in an administrative proceeding of the CVM and the penalties applied; or (iii) any final
    conviction inthe judicial or administrative court, which has suspended or disqualified him to practice aprofessional or commercial activity.</FONT></P>
    <P STYLE="font: 9pt/107% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 8pt 0; text-align: justify; "><FONT STYLE="">Mr.
    Oscar declared that he was not a Politically Exposed Person, pursuant to the provisions of CVM Resolution 50/21, as amended, as he does
    not fit into any of the situations that characterize a Politically Exposed Person.</FONT></P></TD></TR>
  </TABLE>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; "><FONT STYLE="">Deborah
    Stern Vieitas Brazilian Register of Individual Taxpayer &ndash; CPF 013.968.828-55</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; ">&nbsp;</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify; "><FONT STYLE="">Career
    developed and consolidated in the financial market, working in large and renowned international and Brazilian institutions. Experience
    in business management with responsibility for results, as well as in the implementation of operations from a banking license. Academic
    background: Master in Public Administration from ENA &ndash; &Eacute;cole Nationale d'Administration &ndash; France; Master's in Business
    Administration from Funda&ccedil;&atilde;o Get&uacute;lio Vargas &ndash; S&atilde;o Paulo &ndash; International Economics; Degree in Public
    Administration from Funda&ccedil;&atilde;o Get&uacute;lio Vargas &ndash; S&atilde;o Paulo; Graduate in Journalism from the School of Communication
    and Arts of USP &ndash; S&atilde;o Paulo. Certification as a Board Member by IBGC &ndash; Brazilian Institute of Corporate Governance.
    Experience as a member of the Board of Directors and Coordinator of the Audit Committee. Experience on board of directors in the following
    companies: Banco Santander SA 2017 &ndash; to date; AXA SEGUROS SA 2016-2017; BANCO CAIXA GERAL - BRAZIL 2008 - 2014. Mrs. Deborah has
    executive experience in the following companies: CEO AMERICAN CHAMBER OF COMMERCE FOR BRAZIL &ndash; AMCHAM BRASIL 2015 &ndash; present;
    Chief Executive Officer BANCO CAIXA GERAL 2008 &ndash; 2014; Vice President responsible for Large Corporates, Financial Institutions and
    Structured Finance at BANCO BNP PARIBAS &ndash; BRASIL 2000-2008; Vice President responsible for Exchange, Trade Finance, Corporate Loans
    and Capital Markets at Banco CCF Brasil 1988 &ndash; 2000. Others: 2021 &ndash; Member of the Advisory Board of the We Ventures Fund focused
    on female entrepreneurship; 2021 &ndash; Member of the Advisory Board of the startup Se Candidate Mulher that works in employability for
    women; 2017 &ndash; Mentioned in the List of Most Influential Women of the Year by FORBES Magazine; 2014 &ndash; Elected one of the 10
    Best Executives of the Year by VALOR ECON&Ocirc;MICO/Egon Zehnder; 2014 &ndash; Honored as Administrator of the Month by CRA &ndash; Regional
    Board of Directors of S&atilde;o Paulo</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify">Mrs. Deborah hereby declares that in
    the last 5 years, he: (i) has not been found guilty of any crime that has disqualified the practice of professional activity; (ii) has
    notsuffered any conviction in an administrative proceeding of the CVM and the penalties applied; or (iii) any final conviction inthe judicial
    or administrative court, which has suspended or disqualified him to practice aprofessional or commercial activity.</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify">Mrs. Deborah declared that she is not
    a Politically Exposed Person, pursuant to the provisions of CVM Resolution 50/21, as amended, as she does not fit into any of the situations
    that characterize a Politically Exposed Person.</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; "><FONT STYLE="">Altamir
    Batista Mateus da Silva Brazilian Register of Individual Taxpayer &ndash; CPF 116.841.118-77</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify; "><FONT STYLE="">Mr.
    Altamir holds a degree in administration from EAESP/FGV-SP. He was statutory director of Banco Safra between 2011 and 2020. 2 years in
    the family office and 7 years as head of investment (debt and equity capital markets, M&amp;A, derivative sales, fixed income book, brokerage).
    He was executive director of JPMorgan Brazil and in New York in the areas of Credit; Debt Capital Markets; equity capital markets; BAD;
    and IB Coverage.</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify">Mr. Altamir hereby declares that in
    the last 5 years, he: (i) has not been found guilty of any crime that has disqualified the practice of professional activity; (ii) has
    notsuffered any conviction in an administrative proceeding of the CVM and the penalties applied; or (iii) any final conviction inthe judicial
    or administrative court, which has suspended or disqualified him to practice aprofessional or commercial activity.</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify">Mr. Altamir declared that he was not
    a Politically Exposed Person, pursuant to the provisions of CVM Resolution 50/21, as amended, as he does not fit into any of the situations
    that characterize a Politically Exposed Person.</P></TD></TR>
  </TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; "><FONT STYLE="">Eduardo
    Augusto Rocha Pocetti Brazilian Register of Individual Taxpayer &ndash; CPF 837.465.368-04</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify; "><FONT STYLE="">Mr.
    Eduardo Pocetti has been a member of the Fiscal Council of Marfrig Global Foods SA since April 2014. An accountant, he holds an MBA in
    Business Administration from FGV and is currently Chairman of the Board of Directors of IBRACON &ndash; Instituto dos Auditores Independentes
    do Brasil. He was a partner at KPMG Auditores Independentes and has 30 years of experience in auditing companies. From 2004 to 2011, he
    was President of BDO RCS Auditores Independentes S/A, where he represented the name of BDO Brasil for all member firms of the international
    BDO network. He has extensive experience in finance, accounting, independent auditing, economic-financial planning and coordination at
    the management and board level in several large national and multinational companies in the industrial and financial sector. Partner in
    several IPO transactions and special corporate finance projects for the purchase and sale of companies. Mr. Pocetti is also a member of
    the Board of Directors of the publicly-held company Mahle Metal Leve SA and a member of the Fiscal Council of CIEE &ndash; Centro de Integra&ccedil;&atilde;o
    Empresa Escola.</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify">Mr. Pocetti has not suffered, in the
    last five years, any conviction (i) criminal, (ii) in an administrative proceeding of the CVM or (iii) final and unappealable, in the
    judicial or administrative sphere, which has suspended or disqualified him from the practice of any professional activity or commercial.</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify">Mr. Eduardo declared that he is not
    a Politically Exposed Person, pursuant to the provisions of CVM Resolution 50/21, as amended, as he does not fit into any of the situations
    that characterize a Politically Exposed Person.</P></TD></TR>
  </TABLE>
<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">12.6. In relation to each person who
served as a member of the board of directors or the fiscal committee in the last year, inform, in a table format, the percentage of participation
in the meetings held by the respective body in the same period, which took place after taking office</P>

<P STYLE="font: 11pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: #D9D9D9">
    <TD STYLE="width: 31%; font: bold 10pt/115% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center">Body</TD>
    <TD STYLE="width: 50%; font: bold 10pt/115% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center">Member</TD>
    <TD STYLE="width: 19%; font: bold 10pt/115% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center">Ownership Percentage</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%; ">Board of Directors</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%; ">Marcos Antonio Molina dos Santos</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">N/A</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%; ">Board of Directors</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 150%">Marcia Aparecida Pascoal Mar&ccedil;al dos Santos</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">N/A</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%; ">Board of Directors</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 150%">Flavia Maria Bittencourt</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">97%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%; ">Board of Directors</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 150%">Augusto Marques da Cruz Filho</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">100%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%; ">Board of Directors</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 150%">S&eacute;rgio Agapito Lires Rial</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">N/A</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%; ">Board of Directors</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 150%">Altamir Bastita Mateus da Silva</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">N/A</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%; ">Board of Directors</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 150%">Deborah Stern Vieitas</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">N/A</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%; ">Board of Directors</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 150%">Oscar de Paula Bernardes Neto</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">N/A</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%; ">Board of Directors</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 150%">Pedro de Camargo Neto</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">N/A</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%; ">Board of Directors</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%; ">Eduardo Augusto Rocha Pocetti</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">N/A</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: bold 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">12.7. Provide the information mentioned
in item 12.5 in relation to members of statutory committees, as well as audit, risk, financial and compensation committees, even if such
committees or structures are not statutory:</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0">Not applicable.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">12.8. for each one of the people who acted
as a member of the statutory committees, as well as of the audit, risk, financial and compensation committees, even if such committees
or structures are not statutory, inform, in table format, the percentage of participation in meetings held by the respective body in the
same period, which occurred after taking office.</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="width: 35%; border: Black 1pt solid; font: bold 10pt/115% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Body</TD>
    <TD STYLE="width: 46%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 10pt/115% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Member</TD>
    <TD STYLE="width: 19%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 10pt/115% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Ownership Percentage</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%; ">People, Governance, Organization and Culture Committee and Quality and Sustainability Committee</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%; ">Flavia Maria Bittencourt</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">100%</FONT></TD></TR>

<TR>
    <TD STYLE="border-right: Black 1pt solid; width: 35%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%; ">Statutory Audit Committee not adhering to CVM Instruction No. 308/99</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 46%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%; ">Augusto Marques da Cruz Filho</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 19%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">100%</FONT></TD></TR>
  </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">12.9. Marital, common law or family relationship
up to the second degree between:</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0">The. Company Directors</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">B. Managers
of the Company and managers of Subsidiaries, directly or indirectly, of the Company</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: -35.45pt">c) managers
of the Company or its direct or indirect subsidiaries and direct or indirect controlling shareholders of the Company</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: -35.45pt">d) Company
managers and managers of the Company's direct and indirect subsidiaries</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: -35.45pt"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; "><FONT STYLE="">There
isn&rsquo;t marital relationship, stable union or kinship up to second degree between the members appointed to the Board of Directors
and (a) the managers of the Company; (b) the managers of the Company&rsquo;s direct or indirect subsidiaries; (c) the direct or indirect
controllers of the Company or of its direct or indirect subsidiaries; or (d) the managers of the Company&rsquo;s direct and indirect controlling
companies.</FONT></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; "><FONT STYLE="">Note:
Mrs. Marcia Aparecida Pascoal Mar&ccedil;al dos Santos is the wife of Mr. Marcos Antonio Molina dos Santos.</FONT></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">12.10. Report on subordination relationships,
service provision or control held, in the past 3 fiscal years, between the managers of the issuer and:</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">a.</TD><TD STYLE="text-align: justify">a) direct or indirect subsidiaries of the Company, with the exception of those in which the issuer holds,
directly or indirectly, the entire share capital</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">b.</TD><TD STYLE="text-align: justify">b. direct or indirect controlling company of the issuer</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">c.</TD><TD STYLE="text-align: justify">c. If relevant, supplier, client, debtor or creditor of the issuer, its subsidiary or subsidiaries or
controlling companies of any of these people</TD></TR></TABLE>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; "><FONT STYLE="">There
aren&rsquo;t subordination, service or control relationships maintained, in the last 3 fiscal years, between the members appointed to
the Board of Directors and: (a) a company controlled, directly or indirectly, by the Company; (b) direct or indirect controller of the
issuer; (c) supplier, customer, debtor or creditor of the Company, its subsidiary or parent companies of subsidiaries of any of these
companies.</FONT></P>


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<P STYLE="font: bold 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">BRF S.A.</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Attachment IV &ndash; Information on the compensation
of the Managers and the Fiscal Council (Item 13 of the Reference Form, according to CVM Instruction No. 480, of December 7, 2009)</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>13. Management compensation</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>13.1 - Description of the Compensation Policy
or Practice, Including the Non-Statutory Board</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(a) objectives of the compensation policy
or practice, providing information about whether the compensation policy has been formally approved, the body responsible for its approval,
the date of approval and, if the issuer discloses the policy, locations on the worldwide computer network where the document can be viewed.</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's compensation policy for its managers,
including members of the Board of Directors, members of the Fiscal Council and statutory and non-statutory directors, aims to attract,
engage and retain professionals who have the qualifications, competence and profile appropriate to the characteristics and business needs.
Likewise, it aims to create a reward and incentive plan suitable for the sustainable conduct of business, aligning the short and long-term
strategic interests of shareholders with the best market practices and corporate governance.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">It is also worth mentioning that the Company
has a People, Governance, Organization and Culture Committee which, among other duties, is responsible for periodically analyzing the
strategy of fixed and variable compensation adopted, issuing its recommendations in this regard, as well as suggesting possible changes
to the to be implemented in the remuneration policy for consideration, deliberation and approval by the Board of Directors.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's remuneration policy was approved
by the Board of Directors on November 26, 2020 and is available for access by shareholders, investors and the market in general on the
Company's Investor Relations websites ( http://ri.brf-global.com ) and the CVM.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">For more details on the methodology adopted,
see item (b) (iii) below.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(b) compensation composition</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(i) description of the elements of the compensation
and each of the objectives</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Board of Directors</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">All members of the Board of Directors receive
a fixed remuneration, consisting of 12 monthly payments, which is established in accordance with legislation and market standards, and
aims to adequately compensate directors for participating in meetings and for their contributions to said organ. For the Chairman of the
Board of Directors, a differentiated remuneration from the other members is established, in view of the function performed by him.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">When applicable, some members of the Board
of Directors may receive other amounts referring to direct and indirect benefits (medical assistance, dental assistance, life insurance),
benefits for termination of the exercise of the position (clauses provided for in a non-compete agreement - &quot;non-compete &rdquo;),
post-employment benefit (private pension), additional for participation in committees and long-term incentives (share-based compensation
plan).</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Fiscal Council</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">All members of the Fiscal Council receive fixed
compensation, made up of 12 monthly payments. The remuneration is determined at the respective general meeting that approves its election,
not being less, for each member in office, than ten
percent of that which, on average, is attributed to the Statutory Board, not counting the benefits and other variable installments, as
established in the Brazilian Corporation Law, No. 6,404, of December 15, 1976 (&quot; <U>Law 6,406/76</U> &rdquo;). Substitutes do not
receive any other type of remuneration, receiving remuneration only for the meetings they attend.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Executive Board</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The global and annual compensation of the members
of the Statutory Board of Executive Officers is determined by the Board of Directors based on market practices (see item (b) (iii) below)
and comprises fixed and variable short- and long-term compensation. The remuneration of the members of the Statutory Board may include
any additional bonuses aimed at attracting and retaining professionals. This composition aims to promote the execution of strategic planning
and the pursuit of results in a coherent, transparent manner, focused on the interests of the organization, shareholders and others. <I>stakeholders</I>
..</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The fixed remuneration, made up of 13 monthly
payments and vacation allowance, is intended to compensate for the services provided.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The remuneration of members of the Executive
Board may also include amounts referring to direct and indirect benefits (medical assistance, dental assistance, life insurance, food,
<I>checkup</I> ), termination commitments (funds linked to non-compete commitments, non-request and use of confidential information),
hiring and retention incentives that prove necessary and post-employment benefit (private pension), following the best market practices.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The variable remuneration short-term is constituted
and paid through the Company's Profit Sharing Program - PLR. Its purpose is to encourage and recognize executives for achieving the Company's
short-term results. This incentive is linked to the achievement of pre-established global goals and approved at the beginning of each
fiscal year by the Board of Directors. The potential to be paid to each executive is based on multiples of the monthly salary, collective
and individual goals and individual performance evaluation.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Long-term variable remuneration is constituted
and paid through the (i) stock option-based compensation plan, approved at the Annual and Extraordinary Shareholders' Meeting held on
April 8, 2015 and modified at the Annual and Extraordinary Shareholders' Meeting held on April 27, 2020; (ii) restricted stock plan, approved
at the Annual and Extraordinary General Meeting held on April 8, 2015 and modified at the Annual and Extraordinary General Meeting held
on April 26, 2017, at the Extraordinary General Meeting held on May 25, 2018 , at the Ordinary and Extraordinary General Meeting held
on April 29, 2019 and at the Ordinary and Extraordinary General Meeting held on April 27, 2020 and at the Annual and Extraordinary General
Meeting held on April 27, 2021 ; and (iii) restricted stock plan and <I>performance shares</I> approved at the Annual and Extraordinary
General Meeting held on April 29, 2019 , at the Annual and Extraordinary General Meeting held on April 27, 2020 and at the Ordinary and
Extraordinary General Meeting held on April 27, 2021 , which aim to attract, retain, motivate executives and generate value for the Company,
in addition to being an important mechanism for aligning executives with the interests of shareholders in the long term. The potential
to be granted to each executive is determined in multiples of the monthly salary, the Company's global goals, defined by the Board of
Directors and individual performance evaluation. This compensation composition encourages the Executive Board to seek results and recognizes
the achievement and overcoming of pre-defined goals, directing actions to key indicators and levers to ensure the execution of the strategy
and the generation of results for the Company, balancing short and long term. deadline.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Committees</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Members of the Board of Directors elected to
compose the Advisory Committees receive additional fixed compensation for participating in the Committees. Since 2015, the external members
who participate in certain Advisory Committees, as decided by the Board of Directors, are entitled to fixed monthly compensation.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Currently, members of the Executive Board,
statutory or non-statutory, or other Company employees who participate in the other Advisory Committees are not entitled to any additional
compensation.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(ii) what is the proportion of each element
in the total compensation</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The proportion of each element in the total
remuneration in relation to the last three fiscal years is presented in the tables below:</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 48%; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>2021</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Fixed compensation</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Variable compensation</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Post-employment
    benefits</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Benefits for termination
    of tenure</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Share-based compensation</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 4%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Total</B></P></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">88%</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">12%</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">100%</P></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Fiscal Council</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">100%</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">100%</P></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Statutory Board </B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">35%</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">24%</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">6%</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">35%</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">100%</P></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Non-Statutory Board</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">33%</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">30%</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">38%</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">100%</P></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Audit and integrity committee</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">100%</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">100%</P></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Strategy and Marketing Committee</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">100%</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">100%</P></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>People, Governance, Organization and Culture Committee: Messrs.</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">100%</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">100%</P></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Finance and Risk Management Committee (CFGR)</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">100%</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">100%</P></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Quality and Sustainability Committee</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">100%</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">100%</P></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Consumer Intelligence Committee</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">100%</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 0.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 0.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 0.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 0.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center">100%</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 44%; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>2020</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Fixed compensation</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Variable compensation</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Post-employment
    benefits</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Benefits for termination
    of tenure</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Share-based compensation</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 5%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Total</B></P></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Board of Directors</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>71%</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>29%</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Fiscal Council</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Statutory Board </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>30%</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>24%</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>14%</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>32%</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Non-Statutory Board</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>32%</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>30%</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>38%</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">AUDIT AND INTEGRITY COMMITTEE</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Strategy and Marketing Committee</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">People, Governance, Organization and Culture Committee: Messrs.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Finance and Risk Management Committee (CFGR)</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Quality and Sustainability Committee</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Consumer Intelligence Committee</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 27%; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>2019</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 14%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Fixed compensation</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 14%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Variable compensation</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Post-employment
    benefits</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Benefits for termination
    of tenure</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 14%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Share-based compensation</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Total</B></P></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Board of Directors</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>69.0%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>31%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Fiscal Council</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Statutory Board </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>37%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>25%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>22%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>16%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Non-Statutory Board</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>32%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>30%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>38%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">AUDIT AND INTEGRITY COMMITTEE</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Strategy and Marketing Committee</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">People, Governance, Organization and Culture Committee: Messrs.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Finance and Risk Management Committee (CFGR)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Quality and Sustainability Committee</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>100%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(iii) Methodology for calculating and adjusting
each of the compensation elements</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The People, Governance, Organization and Culture
Committee annually analyzes the fixed and variable compensation strategy to be adopted by the Company, which is subsequently submitted
to the Board of Directors for consideration, deliberation and approval.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The remuneration of managers, including members
of the Committees and members of the Fiscal Council, is periodically compared with market practices (selection of large companies, mostly
of consumer goods, that have structured policies and good practices in capital management human resources, and that have a balanced remuneration
composition), through salary surveys carried out through specialized consulting firms, in addition
to monitoring inflation for the period, evaluating the need for adjustment in the remuneration components.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The global compensation of the members of the
Board of Directors, Fiscal Council and Statutory Board of Executive Officers is established at the general shareholders' meeting, taking
into account the elements mentioned in the previous paragraph.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(iv) reasons that justify the composition
of the remuneration</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's policy distributes the components
of fixed compensation in an equitable manner in order to ensure alignment with market practices and the governance system.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Variable compensation aims to achieve and exceed
corporate and individual goals, which encourages the sharing of risks and results.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">4.1.5 In relation to direct and indirect benefits
and post-employment benefits, the Administrators are subject to the same policies in force applicable to the other employees of the Company.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(v) existence of members not compensated
by the issuer and the reason for this fact</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In the fiscal years ended on December 31, 2019,
2020 and 2021, there were no members of the Board of Directors, Fiscal Council, Statutory and non-statutory Executive Board of the Company
who, for any reason, did not receive remuneration paid by the Company. In relation to the members of the Committees, as informed in item
(b) above, the participants of the Committees who are not members of the Company's management have a fixed remuneration specifically for
their participation in the Committee.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;main
performance indicators taken into consideration in determining each element of remuneration</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Regarding fixed compensation, the Company is
based on market research and the individual performance of its executives.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In order to determine the values of the variable
compensation, the performance of the executives is considered through the prior establishment of global goals and areas, such as, for
example, EBIT, ROIC, TSR, cash flow, net income, adherence to quality standards, safety at work and ESG indicators, such as grain traceability,
reduction of water consumption, women in top leadership, use of recyclable, reusable or biodegradable packaging and promotion of education
to reduce food waste and people management indicators.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;how
the remuneration is structured to reflect the evolution of performance indicators</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The members of the Board of Directors, Fiscal
Council and Committees are eligible for fixed compensation. Members of the Board of Directors may be eligible on a limited basis for the
share-based compensation program. For statutory and non-statutory directors, in relation to variable compensation, or short-term incentives,
this element is linked to the Company's performance indicators (global goals), individual goals and the assessment of individual performance.
If the global goals are reached, the participant will be subject to the evaluation of individual goals (compliance with performance indicators
of areas and individuals) to receive the variable remuneration, which can be calibrated according to the result of the individual performance
evaluation.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(e) how the policy or practice of compensation
is aligned with the issuer's interests in short, medium and long term</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The practice adopted by the Company in relation
to the various components of the compensation is aligned with short, medium and long-term interests, insofar as, when defining the components
of the compensation, the alignment between the interests
of the Company and the managers is sought. Fixed compensation is defined in accordance with market practices, as described above, with
the aim of attracting and retaining professionals and rewarding individual performance. Short-term variable compensation, which represents
a significant portion of total compensation, is linked to performance indicators achievable within one year; this determination aims to
remunerate in accordance with the market and, mainly, the growth, profitability and other non-financial indicators of the Company, since
the established goals, if achieved, project the Company to a level of growth and profitability desired by the shareholders and investors,
conditioning the executive's gain to the continuity of the business, thus promoting an attitude of commitment and sustainability of the
participants of this plan.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In addition, the Company's share-based compensation
plans were created to strengthen alignment with shareholders in order to create a long-term vision and commitment in executives, promoting
the knowledge, skills and behavior necessary for the continuity of the business, in addition to reinforce the level of attraction and
retention of its main executives.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Currently, certain members of the Board of
Directors, statutory and non-statutory Directors and Executive Managers are eligible for the share-based compensation program. In terms
of instruments, we have plans to <I>stock options</I> , restricted shares and performance shares, although in recent years we have granted
executives only restricted shares and performance shares which, in turn, are an excellent instrument for aligning interests linked to
a goal of generating shareholder value.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;existence
of compensation supported by controlled subsidiaries, or direct or indirect controllers</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">existence of compensation supported by subsidiaries,
controlled companies or direct or indirect controllers</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(g) existence of any compensation or benefit
linked to the occurrence of certain corporate events, such as the transfer of corporate control by the issuer.</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">existence of any compensation or benefit linked
to the occurrence of a specific corporate event, such as the sale of corporate control</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(h) practices and procedures adopted by
the board of directors to define the individual compensation of the board of directors and the executive board, indicating:</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(i) the issuer's bodies and committees that
participate in the decision-making process, identifying how they participate</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The individual compensation of the Board of
Directors and the Executive Board is periodically reviewed and analyzed by the People, Governance, Organization and Culture Committee
with the support of the Vice-Presidency of Human Resources and the Global President, discussing the general principles of the compensation
policy and recommending to the Board of Directors for its correction or improvement.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(ii) criteria and methodology used to determine
individual compensation, indicating whether studies are used to verify market practices, and, if so, the comparison criteria and scope
of these studies</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The individual compensation of managers (including
members of the Committees) and members of the Fiscal Council is periodically compared with market practices (through the selection of
large companies, mostly of consumer goods, that have structured and good policies practices in the management of human capital, with good
employment conditions at all organizational levels and that have a balanced remuneration composition), through salary surveys carried
out through specialized consulting, in addition to monitoring the inflation of the period, evaluating the need to adjust the remuneration
components.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(iii) how often and how the board of directors
assesses the adequacy of the issuer's compensation policy</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The People, Governance, Organization and Culture
Committee, an advisory body to the Company's Board of Directors, annually evaluates the guidelines and remuneration practices of the Company's
managers and employees and, if deemed necessary, submits a recommendation for modification to the Board of Directors. in the remuneration
adopted until then.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>13.2 - Total Compensation of the Board of
Directors, Board of Officers and Fiscal Council</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">For the year 2022, the proposal provides for
the global remuneration amount of up to R$ 110.8 thousand, considering the members of the Board of Directors and even 9 Statutory Directors.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="5" STYLE="border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total remuneration expected for the Year Current Social Security 12/31/2022 - Annual Values - in thousand reais</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="width: 20%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 25%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="width: 20%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Executive Board</B></FONT></TD>
    <TD STYLE="width: 20%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Fiscal Council</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Total number of members</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>22</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Number of paid members</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>22</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Fixed annual compensation</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Salary or management fees</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">14.374.114,65</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">31.017.131,01</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">876.798,48</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>46.268.044,14</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Direct and indirect benefits</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">185.331,52</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2.083.992,27</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>2.269.323,79</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Investments in committees </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2.424.000,00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>2.424.000,00</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Others</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Description of other fixed compensation</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Variable compensation</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Bonus</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Profit sharing</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">25.269.323,10</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>25.269.323,10</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Attending meetings</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Commissions</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Others</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Description of other variable compensation</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Post-employment</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Position interruption</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9.478.272,04</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>9.478.272,04</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Stock-based</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.837.067,50</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">23.229.141,69</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>25.066.209,19</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Note</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">The total number of members of each body corresponds to the annual average of the number of members of each body, calculated monthly.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">The total number of members of each body corresponds to the annual average of the number of members of each body, calculated monthly.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">The total number of members of each body corresponds to the annual average of the number of members of each body, calculated monthly.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>TOTAL REMUNERATION 0.00</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>&nbsp;&nbsp;18.820.513,67 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>91.077.860,10 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>876.798,48 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>110.775.172,25 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="5" STYLE="border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total remuneration for the current fiscal year 12/31/2021 - Annual Amounts - in thousand reais</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="width: 20%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 25%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="width: 20%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Executive Board</B></FONT></TD>
    <TD STYLE="width: 20%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Fiscal Council</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Total number of members</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>21</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Number of paid members</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>21</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Fixed annual compensation</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Salary or management fees</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10.698.178,00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18.542.462,67</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">540.000,00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>29.780.640,67</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Direct and indirect benefits</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">169.569,88</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.522.704,00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>1.692.273,88</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Investments in committees </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2.424.000,00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>2.424.000,00</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Others</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Description of other fixed compensation</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Variable compensation</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Bonus</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>&nbsp;-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Profit sharing</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">13.759.104,16</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>&nbsp;13.759.104,16</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Attending meetings</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>&nbsp;-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Commissions</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>&nbsp;-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Others</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>&nbsp;-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Description of other variable compensation</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Post-employment</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,322,027.00 </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>3,322,027.00 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Position interruption</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>&nbsp;-</B></FONT></TD></TR>

<TR>
    <TD STYLE="border-right: Black 1pt solid; width: 20%; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Stock-based</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 25%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,837,067.50 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 20%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">20,170,053.50 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 20%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 15%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>22,007,121.00 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Note</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">The total number of members of each body corresponds to the annual average of the number of members of each body, calculated monthly.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">The total number of members of each body corresponds to the annual average of the number of members of each body, calculated monthly.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">The total number of members of each body corresponds to the annual average of the number of members of each body, calculated monthly.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>TOTAL REMUNERATION 0.00</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>15,128,815.38 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>59,908,186.53 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>540.000,00 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>75,577,001.90 </B></FONT></TD></TR>
  </TABLE>
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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="5" STYLE="border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total remuneration for the current fiscal year 12/31/2020 - Annual Amounts - in thousand reais </B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="width: 20%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 25%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="width: 20%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Executive Board</B></FONT></TD>
    <TD STYLE="width: 20%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Fiscal Council</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Total number of members</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>21</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Number of paid members</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>21</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Fixed annual compensation</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Salary or management fees</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;12.704,02 </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;17.816,81 </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;532,85 </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;31.053,68 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Direct and indirect benefits</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;159,00 </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;1.543,36 </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;1.702,36 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Investments in committees </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;1.544,00 </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;1.544,00</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Others</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Description of other fixed compensation</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Variable compensation</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Bonus</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>0</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Profit sharing</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">19.812,25</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>19.812,25 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Attending meetings</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>0</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Commissions</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>0</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Others</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>0</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Description of other variable compensation</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Post-employment</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>0</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Position interruption</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;11.057,44 </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;11.057,44 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Stock-based</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;5.727,36 </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;18.844,82 </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;24.572,18</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Note</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">The total number of members of each body corresponds to the annual average of the number of members of each body, calculated monthly.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">The total number of members of each body corresponds to the annual average of the number of members of each body, calculated monthly.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">The total number of members of each body corresponds to the annual average of the number of members of each body, calculated monthly.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>TOTAL REMUNERATION 0.00</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;20.134,38 </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;69.074,68</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;532,85</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;89.741,91</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="5" STYLE="border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total remuneration for the fiscal year ended -12/31/2019 Annual Amounts &ndash; in thousands of reais</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="width: 20%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 23%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="width: 20%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Executive Board</B></FONT></TD>
    <TD STYLE="width: 20%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Fiscal Council</B></FONT></TD>
    <TD STYLE="width: 17%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Total number of members</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>21</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Number of paid members</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>21</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Fixed annual compensation</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Salary or management fees</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">11.101</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">20.611</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">442</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>32.154</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Direct and indirect benefits</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">153</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.320</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>1.473</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Investments in committees </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">898</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>898</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Variable compensation</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Bonus</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>0</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Profit sharing</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">19.176</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>19.176</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Attending meetings</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>0</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Commissions</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>0</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Others</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>0</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Description of other variable compensation</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>0</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Post-employment</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>0</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Position interruption</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">16.275</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>16.275</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Stock-based</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">5,553</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12,052</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>17,605</B></FONT></TD></TR>

<TR>
    <TD STYLE="border-right: Black 1pt solid; width: 20%; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Note</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 23%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">The total number of members of each body corresponds to the annual average of the number of members of each body, calculated monthly.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 20%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">The total number of members of each body corresponds to the annual average of the number of members of each body, calculated monthly.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 20%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">The total number of members of each body corresponds to the annual average of the number of members of each body, calculated monthly.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; width: 17%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>TOTAL REMUNERATION 0.00</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>17,705</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>69,434</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>442</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>87,581</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Variable compensation of the board of directors,
executive board and supervisory board</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 26%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>YEAR: 2022 forecast</B></FONT></TD>
    <TD STYLE="width: 19%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="width: 21%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Statutory Board</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Fiscal Council</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Total number of members</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">10</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">9</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">3</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>22</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Number of paid members</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">10</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">9</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">3</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>22</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Regarding the bonus</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">i) Minimum amount estimated by compensation plan</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">ii) Maximum amount estimated by compensation plan </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Amount provided for in the compensation plan, if targets are met </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>d) Regarding the Profit Sharing</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">i) Minimum amount estimated by compensation plan</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">ii) Maximum amount estimated by compensation plan </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>25.269.323</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>25.269.323</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Amount provided for in the compensation plan, if targets are met </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>16.846.215</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>16.846.215</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 26%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>YEAR: 2021</B></FONT></TD>
    <TD STYLE="width: 19%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="width: 21%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Statutory Board</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Fiscal Council</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Total number of members</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">10</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">9</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">3</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">22</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Number of paid members</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">9</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">9</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Regarding the bonus</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">i) Minimum amount estimated by compensation plan</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">ii) Maximum amount estimated by compensation plan </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Amount provided for in the compensation plan, if targets are met </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>d) Regarding the Profit Sharing</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">i) Minimum amount estimated by compensation plan</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">ii) Maximum amount estimated by compensation plan </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">22.997.200</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">22.997.200</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Amount provided for in the compensation plan, if targets are met </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">20.997.443</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">20.997.443</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">iv- Amount effectively recognized in profit or loss for the year</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">13.759.104</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">13.759.104</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 29%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>YEAR: 2020 </B></FONT></TD>
    <TD STYLE="width: 20%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Statutory Board</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Fiscal Council</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Total number of members</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">10</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">8</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">3</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">21</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Number of paid members</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">8</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">8</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Regarding the bonus</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">i) Minimum amount estimated by compensation plan</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">ii) Maximum amount estimated by compensation plan </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>

<TR>
    <TD STYLE="border-right: Black 1pt solid; width: 29%; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Amount provided for in the compensation plan, if targets are met </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; width: 20%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; width: 17%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; width: 17%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; width: 17%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>d) Regarding the Profit Sharing</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">i) Minimum amount estimated by compensation plan</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">ii) Maximum amount estimated by compensation plan </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">22,935,600</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>22,935,600</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Amount provided for in the compensation plan, if targets are met </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18,697,426</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>18,697,426</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">iv - Amount effectively recognized in the income for the year</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">19,812,250</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>19,812,250</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 29%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>YEAR: 2019 </B></FONT></TD>
    <TD STYLE="width: 20%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Statutory Board</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Fiscal Council</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Total number of members</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>10</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>3</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>21</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Number of paid members</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">8</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>8</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Regarding the bonus</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">i) Minimum amount estimated by compensation plan</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">ii) Maximum amount estimated by compensation plan </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Amount provided for in the compensation plan, if targets are met </FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>d) Regarding the Profit Sharing</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">i) Minimum amount estimated by compensation plan</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>0</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">ii) Maximum amount estimated by compensation plan </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">19,944,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>19,944,000</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Amount provided for in the compensation plan, if targets are met </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">16,620,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>16,620,000</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">iv - Amount effectively recognized in the income for the year</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">19,176,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>19,176,000</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Share-based compensation plan for the board
of directors and statutory board of executive officers</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>1) Stock Option Plan &ndash; Approved at
the AGO/E of April 8, 2015 and modified on AUG/E of April 27, 2020 </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;general
terms and conditions</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's Stock Option Plan, approved by
the Annual and Extraordinary Shareholders' Meeting held on April 8, 2015 and amended at the Annual and Extraordinary Shareholders' Meeting
held on April 27, 2020, has the statutory Officers, the Non-statutory officers and persons holding other positions in the Company and/or
its subsidiaries. The members of the Board of Directors cannot be elected as beneficiaries of the options of this plan, however, members
of the Board of Directors, who are also members of the Executive Board, may, in the capacity of directors, receive options granted by
the Company.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The instrument referring to the Stock Option
Plan is based on the concept of stock option ( <I>stock options</I> ), which the Company grants the executive a right (and not an obligation)
to buy shares issued by the Company at pre-defined prices (exercise price) and terms.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The approval of the list of participants and
the number of options to be granted will be determined by the Board of Directors annually and will be linked to the achievement of previously
defined results for the Company and the appreciation of the Company's business. The executive's participation in an awarding cycle does
not guarantee his/her participation in subsequent awards.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">To determine the number of stock options in
this instrument, the calculation concept is used in which, when an expectation of appreciation of the share issued by the Company within
the stipulated grace period is reached ( <I>vesting</I> ), the gain resulting from the option is equal to the target award level to the
executive. In this concept, the participant only achieves its earning potential if the shareholders' expectations in terms of business
valuation are met.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Participants in the Stock Option Plan must
enter into individual stock option agreements with the Company, through which the participant acquires the right to purchase stock options
issued by the Company, a right that is personal and non-transferable. .</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The management of the Stock Option Plan will
be the responsibility of the Company's Board of Directors, respecting the applicable legal requirements and the maximum dilution limits
authorized at the shareholders' meeting. The same will be able to set up a special Committee to advise on the administration of the Plan.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;main
objectives of the plan</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Stock Option Plan aims to allow the beneficiaries,
subject to certain conditions, to acquire shares in the Company, with a view to: (a) encouraging the expansion, success and achievement
of the Company's corporate objectives; (b) align the interests of the Company's shareholders with those of the beneficiaries; (c) enable
the Company or other companies under its control to attract and keep the beneficiaries linked to it and encourage the creation of value;
and (d) share risks and gains equitably between shareholders and beneficiaries.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&ccedil;. How the plan contributes to these
goals</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company, by establishing a differentiated
and competitive investment opportunity for its executives, expects to align the actions of the beneficiaries of the plan with the vision
of the Company's shareholders and investors, conditioning the executive's long-term gain to the continuity of the business and, therefore,
promoting the committed and sustainable attitude of the beneficiaries of the Stock Option Plan.</P>

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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>How the plan fits into the issuer's compensation
policy</B></P>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Stock Option Plan aims to complement the
compensation package of its executives, reinforcing the level of attraction and retention of its main executives, as described in item
13.1 of this Reference Form.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>How the plan aligns the interests of management
and the issuer in the short-, medium- and long-term</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The implementation of the Stock Option Plan
strengthens the expectations of the Company's shareholders and investors to create a short, medium and long-term vision and commitment
in the executive, promoting the knowledge, skills and behaviors necessary for the continuity of the business.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The exercise of the options granted may only
take place from one year from the date of the grant and in the maximum proportion 1/4 of the options each year, and may do so for a period
of up to six years, causing the beneficiaries to commit to the constant appreciation of the Company's shares in the short, medium and
long term.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;maximum
number of covered shares</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The maximum number of shares that may be subject
to the granting of a call option, added to the total number of shares that may be acquired under the Restricted Stock Plan, is equivalent
to 2.5% of the total number of shares issued by the Company, corresponding to 20,311,831 on December 31, 2021.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;maximum
number of options to be granted</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The maximum number of options to be granted,
added to the total number of shares that may be acquired within the scope of the Restricted Stock Plan, cannot exceed the maximum number
of shares that may be subject to the granting of purchase option, which is equivalent to 2.5% of the total number of shares of the Company,
corresponding to 20,311,830 shares as of December 31, 2021.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;conditions
for share acquisition</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Board of Directors, annually or as often
as it deems convenient, will set the exercise price of each option and the conditions for its payment, establishing the terms and conditions
for exercising each option and imposing any other conditions related to such options, provided that the exercise price will never be lower
than the average price of the Company's shares on B3 SA &ndash; Brasil, Bolsa, Balc&atilde;o (&quot; <U>B3</U> &rdquo;), weighted by the
trading volume, in the last 20 trading sessions prior to the grant date, monetarily adjusted by the variation of the Broad Consumer Price
Index, published by the Brazilian Institute of Geography and Statistics (&ldquo;Instituto Brasileiro de Geografia e Estat&iacute;stica&rdquo;).
<U>IPCA</U> &rdquo;), or by another index that may be determined by the Board of Directors.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Each stock option will entitle the beneficiary
to acquire one share of the Company, subject to the terms and conditions established in the respective option agreement.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The granting of stock options under the terms
of the Stock Option Plan is carried out through the execution of option grant agreements between the Company and the beneficiaries, which
must specify, without prejudice to other conditions determined by the Board of Management: (a) the number of options subject to the grant;
(b) the Company's performance targets and other terms and conditions for acquiring the right to exercise the options; (c) the deadline
for exercising the options; and (d) the exercise price and payment terms.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Board of Directors may make the exercise
of the option subject to certain conditions, as well as impose restrictions on the transfer of shares acquired with the exercise of the
options, and may also reserve repurchase options and/or preemptive rights for the Company in the event of disposal by the beneficiary
of those same actions.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Notwithstanding the foregoing, during a period
of one year from the date of exercise of the respective option, the beneficiaries may not sell, assign and/or offer for sale the shares
acquired with the exercise of options. If the beneficiary does
not have the necessary resources to pay for the exercise of the options, the sale of the shares necessary to pay for the exercise of the
options, plus the incidental costs and taxes, will be allowed. The number of shares subject to the sale restriction will be calculated
according to the terms and conditions established in the plan.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The option contracts will be signed individually
with each beneficiary, and the Board of Directors may establish different terms and conditions for each option contract, without the need
to apply any rule of isonomy or analogy between the beneficiaries, even if they are in similar or similar situations. identical.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The beneficiary who wishes to exercise his
option must communicate to the Company, in writing, his intention to do so and indicate the number of options he wishes to exercise, pursuant
to the communication model to be disclosed in due course by the Board of Directors.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;criteria
for setting acquisition or exercise price</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The exercise price of the stock options granted
under the Stock Option Plan will be determined by the Board of Directors on the grant date, provided that it will never be lower than
the average price of the Company's shares on B3 weighted by the volume trading in the last 20 trading sessions prior to the grant date,
monetarily restated by the IPCA variation or by another index that may be determined by the Board of Directors.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Criteria
for setting the exercise period</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Without prejudice to the other terms and conditions
established in the respective option contracts, the options will become exercisable to the extent that the respective beneficiaries remain
continuously linked as managers or employees of the Company or of another company under its control, for the period between the grant
date of the options and the dates specified below, as follows:</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 35.45pt; text-align: justify; text-indent: -35.45pt">(a) 1/4 of the
options may be exercised from the first anniversary of the grant date;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 35.45pt; text-align: justify; text-indent: -35.45pt">(b) 1/4 of the
options may be exercised from the second anniversary of the grant date;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 35.45pt; text-align: justify; text-indent: -35.45pt">(c) 1/4 of the
options may be exercised from the third anniversary of the grant date; and</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 35.45pt; text-align: justify; text-indent: -35.45pt">(d) 1/4 of the
options may be exercised from the fourth anniversary of the grant date.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The options will be exercisable until the last
business day of the calendar year in which the sixth anniversary of the grant date is completed. Options not exercised within the stipulated
terms and conditions will be considered automatically extinguished, without the right to indemnification.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Stock Option Plan entered into force on
the date of its approval by the Company's general meeting and will remain in force for an indefinite period, and may be terminated at
any time, by decision of the general meeting. The expiration of the plan will not affect the effectiveness of the options still in force
granted based on it, nor the validity of any repurchase options and/or preemptive rights in the event of disposal by the beneficiary of
these same shares and the prohibition of disposal mentioned in item &ldquo;h&rdquo; above and &ldquo;l&rdquo; below.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form
of settlement</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The shares object of the options granted will
come, as may be decided by the Board of Directors, from the issuance of new shares within the authorized capital limit or from shares
held in treasury.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restrictions
to transfer of shares</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">During the period of one year from the date
of exercise of the respective option, the beneficiaries may not sell, assign and/or offer for sale the shares acquired with the exercise
of options.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Board of Directors may impose restrictions
on the transfer of shares acquired through the exercise of the options, and may also reserve repurchase options and/or preemptive rights
for the Company, in the event of disposal by the beneficiary of these same shares.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;criteria
and events that, when checked, will cause suspension, change or dismissal of the plan</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Board of Directors may determine the suspension
of the right to exercise the options whenever situations arise that, under the terms of the law or regulations in force, restrict or prevent
the trading of shares by the beneficiaries.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Chairman of the Board of Directors, in
the interest of the Company and its shareholders, may review the conditions of this Plan, as long as it does not change the respective
basic principles. Any significant legal change with respect to the regulation of corporations, and / or the tax effects of a call option
plan, may lead to the full review of this Plan.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Stock Option Plan may be amended or terminated
at any time by the Company's general shareholders' meeting.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(n) Effects of the administrator's departure
from the issuer's bodies on his rights provided for in the share-based compensation plan</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Pursuant to the Stock Option Plan, the rules
set forth for exit due to termination of the Company are as follows:</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">1. In the event of being dismissed from the
Company at its will, through (i) dismissal for just cause, as provided for in the Consolidation of Labor Laws; or (ii) removal from office
for violating the duties and attributions of an administrator, such as those provided for in art. 153 to 157 of Law 6,404/76 and its subsequent
amendments; or (iii) negligence of the beneficiary in the exercise of the attributions deriving from his/her mandate as director; or (iv)
criminal conviction related to intentional crimes; or (v) the practice, by the beneficiary, of dishonest or fraudulent acts against the
Company or against the companies under its control; or (vi) any act or omission resulting from intent or fault of the beneficiary and
that is harmful to the business, image, or financial situation of the Company, its shareholders, or any companies under its control; or
(vii) significant violation of the instrument that regulates the exercise of the statutory manager's mandate entered into by the beneficiary
with the Company and/or with companies under its control or any amendments to such instrument or contract; or (viii) non-compliance with
the Bylaws of the Company and/or the companies under its control and other corporate provisions applicable to the beneficiary, as manager,
all options already exercisable or not yet exercisable in accordance with the respective option agreement, in date of their termination,
will be automatically terminated, by operation of law, regardless of prior notice or notification, and without the right to any compensation.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">2. In the event of being terminated from the
Company by its will, through dismissal without just cause or dismissal from its position without violating the duties and attributions
of administrator, or by the will of the beneficiary himself, resigning from his job or resigning from his position of administrator: (i)
the options not yet exercisable in accordance with the respective option agreement, on the date of their termination, will automatically
be extinguished, by operation of law, regardless of prior notice or notification, and without the right to any indemnification; and (ii)
the options already exercisable in accordance with the respective option agreement, on the date of their termination, may be exercised
within 30 days from the date of termination, after which they will automatically become extinct, by operation of law , regardless of prior
notice or notice, and without any right to compensation.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">3. In the event of being terminated from the
Company due to retirement or permanent disability: (i) the options not yet exercisable in accordance with the respective option agreement,
on the date of termination, will automatically become extinct, and (ii) the options already exercisable in accordance with the respective
option agreement, on the date of their termination, may be exercised within 60 days from the date of termination, after which they will
automatically become extinct, by operation of law, regardless of notice prior notice or notice, and without any right to compensation.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">4. In the event of leaving the Company due
to death: (i) the options not yet exercisable in accordance with the respective option agreement, on the date of their departure, will
become automatically exercisable and may be exercised by the heirs and legal successors of the beneficiary, within six months from the
date of termination, after which they will be automatically extinguished, by operation of law, regardless of prior notice or notification,
and without the right to any compensation; and (ii) the options already exercisable in accordance with the respective option agreement,
on the date of their death, may be exercised by the heirs and legal successors of the beneficiary, within a period of six months from
the date of termination, after which they shall be automatically terminated, by operation of law, regardless of prior notice or notification,
and without the right to any compensation.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>2) Restricted Shares/Performance Shares
Plan - Approved at the AGO/E of April 8, 2015 and amended in the AGO/E of April 26, 2017, AGE of May 25, 2018, AGO/E of April 29, 2019,
AGO/E of April 27, 2020 and AGO/E of April 27, 2021. </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General
terms and conditions</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company's Restricted Shares/Shares for
Performance Plan, approved by the general shareholders' meeting held on April 8, 2015 and amended by the general shareholders' meetings
held on April 26, 2017, May 25, 2018, May 29, April 2019, April 27, 2020 and April 27, 2021, the eligible audience is the members of the
Board of Directors, statutory directors, non-statutory directors and executive managers of the Company and/or its subsidiaries. The members
of the Board of Directors who are also members of the Executive Board may only receive restricted shares granted by the Company as officers.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The instrument of the Restricted Shares/Performance
Shares Plan consists of the granting of restricted shares/performance shares to participants, which are transferred to the beneficiaries
upon compliance with certain conditions described in item 3.h.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Board of Directors may establish different
terms and conditions for each grant agreement, without the need to apply any isonomy or analogy rule between the beneficiaries, even if
they are in similar or identical situations.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The approval of the list of participants and
the number of shares to be granted will be determined by the Board of Directors annually and will be linked to the achievement of previously
defined results for the Company and the appreciation of the Company's business. The executive's participation in an awarding cycle does
not guarantee his/her participation in subsequent awards.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Participants in the Restricted Shares/Performance
Shares Granting Plan shall enter into individual agreements for the granting of restricted shares with the Company, through which the
participant acquires the right to grant restricted shares of the Company, according to the criteria described above, this person's right
and non-transferable.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The administration of the Restricted Shares/Shares
for Performance Plan will be the responsibility of the Company's Board of Directors, respecting the provisions of the Company's bylaws
and applicable legislation, as well as respecting the limits of the global compensation of the managers to be advised by the People Committee
, Governance, Organization and Culture and/or other group/collegiate, defined by it. The Board of Directors, at its sole discretion, may
choose to grant the Beneficiaries part or all of the Restricted Shares to which they are entitled in the form of ADRs backed by shares
issued by the Company, observing the maximum number of shares covered by the plan, as well as any restrictions and procedures provided
for in applicable legislation and regulations.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Main
objectives of the plan</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Restricted Shares/Performance Shares Plan
aims to grant restricted shares to persons eligible as beneficiaries, with a view to: (a) encouraging the expansion, success and achievement
of the Company's social objectives; (b) align the interests of the Company's shareholders with those of eligible persons; and (c) enable
the Company or the companies under its control to attract and maintain eligible persons.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(c) How the plan contributes to these goals</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company, by establishing a differentiated
and competitive investment opportunity for its executives, expects to align the actions of the participants of this long-term share plan
with the vision of the Company's shareholders and investors, conditioning the executive's long-term gain to the continuity of the business.
and, with that, promote an attitude of commitment and sustainability of the participants of this plan.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;How
the plan fits into the issuer's compensation policy</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Restricted Shares/Performance Shares Plan
aims to complement the compensation package for its executives, reinforcing the level of alignment and retention of its main executives,
as described in item 13.1 of this Reference Form.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;How
the plan aligns the interests of management and the issuer in the short-, medium- and long-term</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The implementation of the Restricted Shares/Shares
for Performance Plan strengthens the expectations of the Company's shareholders and investors to create a short, medium and long-term
vision and commitment in the executive, promoting the knowledge, skills and behaviors necessary for the business continuity.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The rights of the beneficiaries in relation
to the Restricted Shares/Shares for Performance will only be fully acquired after the third anniversary of the grant date, making the
beneficiaries commit to the constant appreciation of the Company's shares in the short, medium and long term.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maximum
number of covered shares</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The maximum number of covered shares that can
be granted, added to the total number of shares that can be acquired under the Stock Option Plan, is equivalent to 2.5% of the total number
of shares issued by the Company, corresponding to 20,311,830 shares as of December 31, 2021.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maximum
number of options to be granted</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Restricted Stock/Shares for Performance
Granting Plan contemplates the granting of shares and not stock options.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Conditions
for share acquisition</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The rights of the beneficiaries in relation
to the restricted shares will only be fully acquired if:</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">the beneficiaries remain continuously linked
as an administrator or employee of the Company, for the period to be defined by the Board of Directors and established in each Grant Agreement.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Once the conditions established above are satisfied,
and provided that the applicable legal and regulatory requirements are observed, the Company will transfer the respective net restricted
shares to the beneficiary's name, or transfer the equivalent financial amount, at no cost to the beneficiary.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Additionally, the Board of Directors may subordinate
the acquisition of rights related to the restricted shares to any conditions it deems convenient, as well as impose restrictions on their
transfer, and may also reserve repurchase options and/or preemptive rights for the Company in the event of disposal. by the beneficiary
of these same restricted shares.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Without prejudice to other conditions that
the Board of Directors deems convenient, the acquisition of rights related to Restricted Shares may, at the discretion of the Board of
Directors, be subordinated, in whole or in part, to the verification of the achievement, by the Company, of certain performance indexes
.. The method of calculating the performance indices and their effects on the acquisition of rights related to the Restricted Shares will
be defined by the Board of Directors and must be reflected in the Grant Agreements.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Criteria
for setting acquisition or exercise price</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Restricted Shares/Performance Shares Plan
provides for the granting of shares and not stock options. The Restricted Shares/Performance Shares will be granted free of charge to
the beneficiary, under the terms and conditions described above.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(j) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Criteria
for setting the exercise period</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The rights of the beneficiaries in relation
to the Restricted Shares/Shares for Performance will only be fully acquired, if the conditions described in item &ldquo;h&rdquo; above
are verified. The exercise period will be defined by the Company's Board of Directors and established in each Grant Agreement, taking
into account market practices, as well as the average period necessary for the management of the beneficiaries to impact the appreciation
of the shares and the Company's growth.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Additionally, the Board of Directors may subordinate
the acquisition of rights related to restricted shares to certain conditions, as well as impose restrictions on their transfer, and may
also reserve repurchase options and/or preemptive rights for the Company in the event of disposal by the beneficiary of these same restricted
actions.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(k) Form of settlement</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In order to satisfy the granting of restricted
shares under the Restricted Shares/Performance Shares Plan, the Company, subject to applicable law and regulations, will dispose of shares
held in treasury, through a private operation, at no cost to the beneficiaries. The Board of Directors may also establish the payment
of said amount in cash or in shares, as established in the respective Grant Agreement.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restrictions
to transfer of shares</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">While the rights to the restricted shares are
not fully acquired, under the terms and conditions established in item &ldquo;h&rdquo; above, the beneficiary may not pledge, sell, assign,
dispose or transfer, directly or indirectly, the shares issued by the Company acquired with its Variable salary.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Board of Directors may also impose restrictions
on the transfer of Restricted Shares/Performance Shares, and may also reserve repurchase options and/or preemptive rights for the Company
in the event of disposal by the beneficiary of these same restricted shares.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Criteria
and events that, when found, will cause the suspension, modification or termination of the plan</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Board of Directors may determine the suspension
of the right to exercise the shares, whenever there are situations that, under the terms of the law or regulation in force, restrict or
prevent the trading of shares by the beneficiaries.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Any significant legal change regarding the
laws and regulations of corporations, publicly-held companies, labor legislation and/or the tax effects of a stock option plan, may lead
to a complete review of the Restricted Stock Option Plan.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Restricted Shares/Performance Shares Plan
may be terminated at any time by decision of the Company's general meeting.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(n) Effects of the administrator's departure
from the issuer's bodies on his rights provided for in the share compensation plan</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Unless otherwise defined by the Board of Directors
and established in the respective Grant Agreements, in the event of termination of the beneficiary, the restricted shares not fully acquired
will automatically be extinguished, by operation
of law, regardless of prior notice or notification, and without the right to any compensation.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>3) Stock Option Plan (<I>Performance Stock
Option</I>) (discontinued on March 31, 2015)</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;general
terms and conditions</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Stock Option Plan (<I>Performance Stock
Options</I>) of the Company was approved by the general shareholders meeting held on April 3, 2014, discontinued on March 31, 2015 and
finally canceled in December 2019, without the exercise of the respective options. This plan had statutory directors, non-statutory directors
and other employees of the Company and/or its subsidiaries as eligible public.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The instrument is based on the concept of stock
option (<I>performance stock options</I>), through which the Company granted the executive a right (and not an obligation) to purchase
shares issued by the Company at prices (exercise price), subject to predefined terms and conditions for achieving goals.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The approval of the list of participants and
the number of options to be granted was determined by the Board of Directors annually, and was linked to the achievement of previously
defined results for the Company, the valuation of the Company's business and the determination of corporate goals. The executive's participation
in an awarding cycle does not guarantee his/her participation in subsequent grants.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">To determine the number of stock options, the
calculation concept was used in which, when an expectation of appreciation of the Company's shares was reached within the stipulated grace
period (<I>vesting)</I> and corporate goals, the gain resulting from the option was equal to the executive's target reward level. In this
concept, the participant only reached his/her earning potential if the shareholders' expectations in terms of business valuation were
met.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Main
objectives of the plan</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Stock Option Plan (<I>Performance Stock
Options</I>) was intended to allow the beneficiaries, subject to certain conditions, to acquire shares in the Company, with a view to:
(a) encouraging the expansion, success and achievement of the Company's social objectives; (b) align the interests of the Company's shareholders
with those of the beneficiaries; and (c) enable the Company or other companies under its control to attract and retain beneficiaries.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(c) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;How
the plan contributes to these goals</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company, by establishing a differentiated
and competitive investment opportunity for its executives, aiming to align the actions of the beneficiaries of the plan with the vision
of the Company's shareholders and investors, conditioning the executive's long-term variable compensation to the perpetuity of the business
and, with this, promoting an attitude of commitment and sustainability on the part of the plan's beneficiaries.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;How
the plan fits into the issuer's compensation policy</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Stock Option Plan (<I>Performance Stock
Options</I>) was intended to complement the compensation package for its executives, reinforcing the level of attraction and retention
of the Company's main executives, as described in item 13.1 of this Reference Form.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;How
the plan aligns the interests of management and the issuer in the short-, medium- and long-term</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Stock Option Plan (<I>Performance Stock
Options</I>) sought to strengthen the expectation of the Company's shareholders and investors to create a short, medium and long-term
vision and commitment in the executive, and the executives' commitment to generate value and sustainable results for the Company in the
short, medium and long term.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Stock Option Plan (<I>Performance Stock
Options</I>) has been discontinued.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maximum
number of covered shares</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The maximum number of shares covered that may
be subject to the granting of a call option is equivalent to 0.5% of the total number of shares issued by the Company, corresponding to
4,362,366 shares on the date of its discontinuation. Under this plan, a total of 1,251,238 shares were granted. As of December 31, 2015,
there are no active options out of the total number of options granted under this plan.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;maximum
number of options to be granted</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The maximum number of options to be granted
could not exceed the maximum number of shares that could be subject to the granting of a call option, which was equivalent to 0.5% of
the total number of shares issued by the Company, corresponding to 4,362,366 shares on the date of its discontinuation.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;conditions
for share acquisition</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Board of Directors, annually or as often
as it deems convenient, set the exercise price of each option and the conditions for its payment, establishing the terms and conditions
for exercising each option and imposing any other conditions related to such options.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Each stock option gave the beneficiary the
right to acquire one share of the Company, subject to the terms and conditions established in the respective option agreement.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The granting of stock options under the Stock
Option Plan (<I>Performance Stock Options</I>) was carried out through the execution of option grant agreements between the Company and
the beneficiaries, which specified, without prejudice to other conditions determined by the Board of Directors: (a) the number of options
object of the grant; (b) the Company's performance targets and other terms and conditions for acquiring the right to exercise the options;
(c) the deadline for exercising the options; and (d) the exercise price and payment terms.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Board of Directors had the autonomy to
make the exercise of the option subject to certain conditions, as well as to impose periods of prohibition for trading (<I>lock-up</I>)
of part of the shares and other restrictions on the transfer of shares acquired with the exercise of the options, and may also reserve
repurchase options and/or preemptive rights for the Company in the event of disposal by the beneficiary of these same shares.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The option contracts were signed individually
with each beneficiary, and the Board of Directors is responsible for establishing different terms and conditions for each option contract,
without the need to apply any isonomy or analogy rule between the beneficiaries, even if there were similar or identical situations.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The beneficiary wishing to exercise his option
should notify the Company, in writing, of his intention to do so and indicate the number of options he wished to exercise, pursuant to
the communication model to be disclosed by the Board of Directors.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Criteria for setting the acquisition or exercise price</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The exercise price of the stock options granted
was determined by the Board of Directors on the grant date, noting that it could never be lower than the average price of the Company's
shares on B3 weighted by the trading volume in the last 20 trading sessions prior to the grant date, monetarily restated according to
the index determined by the Board of Directors.</P>

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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Criteria for setting the exercise period</B></P>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The establishment of the exercise period took
into account market practices, as well as the average period necessary for the management of the beneficiaries to impact the appreciation
of the shares and the growth of the Company.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Without prejudice to the other terms and conditions
established in the respective option contracts, the options will become exercisable after a grace period of at least 18 months and at
most 24 months from the grant date, as the case may be. be defined by the Company's Board of Directors.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The options were exercisable until the last
business day of the calendar year in which the 4th anniversary of the grant date would be completed. Options not exercised within the
stipulated terms and conditions were considered automatically extinguished, without the right to indemnification.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fform
of settlement</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The shares object of the options granted should
come, as decided by the Board of Directors, from the issuance of new shares within the authorized capital limit or from shares held in
treasury.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restrictions
to transfer of shares</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Board of Directors had the autonomy to
make the exercise of the option subject to certain conditions, as well as to impose periods of prohibition for trading ( <I>lock-up</I>
) of part of the shares and other restrictions on the transfer of shares acquired with the exercise of the options, and may also reserve
repurchase options and/or preemptive rights for the Company in the event of disposal by the beneficiary of these same shares.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Criteria
and events that, when checked, will cause suspension, change or dismissal of the plan</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Board of Directors had the autonomy to
determine the suspension of the right to exercise the options, whenever situations arise that, under the terms of the law or regulation
in force, restricted or prevented the trading of shares by the beneficiaries.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Board of Directors, in the interests of
the Company and its shareholders, could also review the conditions of the plan, as long as it does not alter the respective basic principles.
Any significant legal change regarding the regulation of corporations, publicly-held companies, labor legislation and/or the tax effects
of a stock option plan, could lead to a complete review of the plan.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The plan may be terminated at any time by the
Company's general shareholders' meeting.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(n) Effects of the administrator's departure
from the issuer's bodies on his rights provided for in the share-based compensation plan</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In accordance with the Stock Option Plan (<I>Performance
Stock Options</I> discontinued), the rules provided for exit due to disconnections were as follows:</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">1. In the event of termination of the Company
by its will, upon dismissal for just cause or dismissal from its position for violating the manager's duties and attributions, all options
already exercisable or not yet exercisable in accordance with the respective option agreement, in date of their termination, would be
automatically terminated, by operation of law, regardless of prior notice or notification, and without the right to any compensation.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">2. In the event of termination of the Company
by its will, upon dismissal without just cause or dismissal from its position without violating the duties and attributions of an administrator,
or by the will of the beneficiary himself, requesting resignation from his job or resigning from his position as administrator : (i) the
options not yet exercisable in accordance with the respective option agreement, on the date of their termination, would become exercisable
in proportion to the time of the vesting period in which the beneficiary has worked for the Company, provided they are satisfied the conditions
determined in the respective option agreement, and could be exercised within 30 days from the expiration date, after which they would
be automatically extinguished, by operation of law, regardless of prior notice or notification, and without the right to any indemnity;
and (ii) the options already exercisable in accordance with the respective option agreement, on the date of their termination, could be
exercised within 30 days from the date of termination, after which they would automatically become extinct, by operation of law. , regardless
of prior notice or notice and without any right to compensation.</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">3. In the event of termination of the Company
due to retirement or permanent disability: (i) the options not yet exercisable in accordance with the respective option agreement, on
the date of termination, would become exercisable in proportion to the grace period in which the beneficiary has worked for the Company,
provided that the conditions determined in the respective option agreement are satisfied and could be exercised within 60 days from the
end of the grace period, after which they would be automatically extinguished, by operation of law, regardless of notice or notice, and
without right to any indemnity; and (ii) the options already exercisable in accordance with the respective option agreement, on the date
of their termination, would remain valid, and may be exercised under the terms of the plan and respective option agreement.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">4. In the event of termination of the Company
due to death: (i) the options not yet exercisable in accordance with the respective option agreement, on the date of their termination,
would become exercisable in proportion to the vesting period in which the beneficiary has worked for the Company, provided that the conditions
determined in the respective option agreement are satisfied and could be exercised within 12 months from the end of the grace period,
after which they would automatically become extinct, by operation of law, regardless of prior notice or notice, and without right to any
compensation; and (ii) the options already exercisable in accordance with the respective option agreement, on the date of their death,
could be exercised by the heirs and legal successors of the beneficiary, within 12 months from the date of termination, after which they
would automatically become extinct, by operation of law, regardless of prior notice or notification, and without any right to compensation.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>13.5 - Share-based remuneration of the Board
of Directors and Statutory Board</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The members of the Company's Board of Directors
were entitled to share-based compensation as of the 2018 fiscal year.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In relation to the Restricted Stock Granting
Plan, approved in the AGO/E of April 8, 2015, there is no grant of a purchase option, but the transfer of Company shares upon compliance
with certain conditions described in item 13.4 above.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>YEAR: 2022 - Forecast for the current fiscal year.</B></FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Board of Directors</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 30%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>b) Total number of members</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 22%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD>
    <TD STYLE="vertical-align: top; width: 25%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD>
    <TD STYLE="vertical-align: top; width: 23%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>c) Number of paid members</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Regarding each granting of stock options</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Restricted Shares 2019</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Restricted Shares 2020</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Restricted Shares 2022</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Date of grant</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2020</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2021</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2022</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Number of options granted</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">01/05/2020</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">01/05/2020</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2022</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">359.293</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">359.293</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Maximum Term for Exercise of Options</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Restriction term on transfer of stocks</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Weighted average price of the exercise of each of the following groups of options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">33% - 01/06/2020</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">33% - 01/06/2021</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">33% - 01/06/2022</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">50% - 01/05/2021</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">50% - 01/05/2022</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Open at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Lost during the fiscal year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Exercised during the tax year</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Expired during the tax year</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>and. fair value of options on the grant date (in Reais)</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Potential dilution in case of exercise of all options granted</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0,01%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0,04%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>YEAR: 2022 &ndash; Forecast for the current fiscal year. </B></FONT></TD>
    <TD COLSPAN="11" STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Statutory Board</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 22%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>b) Total number of members</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9</FONT></TD>
    <TD STYLE="vertical-align: top; width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>c) Number of paid members</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,17</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,17</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,17</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.33</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.33</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7.8</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Regarding each granting of stock options</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Calibri, Helvetica, Sans-Serif; margin: 0.05pt 0 0">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">Grant 2016 I</P></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Calibri, Helvetica, Sans-Serif; margin: 0.05pt 0 0">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">Grant 2016 II</P></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Grant 2017 - Extra</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted Shares</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2017 Extra Grant II</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Calibri, Helvetica, Sans-Serif; margin: 1.75pt 1.45pt 0 2.75pt; text-align: center">Restricted Shares</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2018</P></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted Shares 2018 Extra 2</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted Shares / Performance Shares 2019</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted Shares / Performance Shares 2020</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt/5.5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 3.35pt; text-align: center">Restricted Shares</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">Shares by performance 2021</P></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt/5.5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 3.35pt; text-align: center">Restricted Shares</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">Shares by performance 2022</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Date of grant</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">28/04/2016</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">05/31/2016</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">30/03/2017</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">08/31/2017</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12/01/2017</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18/06/2018</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10/01/2018</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">06/01/2019</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">06/01/2020</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">07/01/2021</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7/1/2022</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Number of options granted</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,200,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">693,860</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">150,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">187,333</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">290,771</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">135,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">319,030</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 7pt">429,854</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">923,005</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,353,521</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1,402,535</FONT></TD></TR>

<TR>
    <TD ROWSPAN="5" STYLE="width: 22%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Calibri, Helvetica, Sans-Serif; margin: 0 2.7pt 0 12.65pt; text-indent: -8.4pt">2017 - 1/4 of the options</P>
    <P STYLE="font: 7pt/96% Calibri, Helvetica, Sans-Serif; margin: 0.75pt 3.35pt 0 12.65pt; text-indent: -8.4pt">2018 - 2/4 of the options</P>
    <P STYLE="font: 7pt/96% Calibri, Helvetica, Sans-Serif; margin: 0.9pt 2.7pt 0 12.65pt; text-indent: -8.4pt">2019 - 3/4 of the options</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2020 - 4/4 of the options</P></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Calibri, Helvetica, Sans-Serif; margin: 0 2.75pt 0 12.75pt; text-indent: -8.4pt">2017 - 1/4 of the options</P>
    <P STYLE="font: 7pt/96% Calibri, Helvetica, Sans-Serif; margin: 0.75pt 2.75pt 0 12.75pt; text-indent: -8.4pt">2018 - 2/4 of the options</P>
    <P STYLE="font: 7pt/96% Calibri, Helvetica, Sans-Serif; margin: 0.9pt 2.75pt 0 12.75pt; text-indent: -8.4pt">2019 - 3/4 of the options</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2020 - 4/4 of the options</P></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Calibri, Helvetica, Sans-Serif; margin: 0 2.4pt 0 12.6pt; text-indent: -8.4pt">2018 - 1/4 of the options</P>
    <P STYLE="font: 7pt/96% Calibri, Helvetica, Sans-Serif; margin: 0.75pt 2.4pt 0 12.6pt; text-indent: -8.4pt">2019 - 2/4 of the options</P>
    <P STYLE="font: 7pt/96% Calibri, Helvetica, Sans-Serif; margin: 0.9pt 2.4pt 0 12.6pt; text-indent: -8.4pt">2020 - 3/4 of the options</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2021 - 4/4 of the options</P></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt/6pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 2.8pt">2018 - 30% of</P>
    <P STYLE="font: 7pt/110% Calibri, Helvetica, Sans-Serif; margin: 0 1.7pt 0 2.8pt; text-indent: 11.25pt">2019 shares - 70% of</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">actions</P></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Calibri, Helvetica, Sans-Serif; margin: 0 2.25pt 0 12.75pt; text-indent: -8.4pt">2018 - 1/4 of the options</P>
    <P STYLE="font: 7pt/96% Calibri, Helvetica, Sans-Serif; margin: 0.75pt 2.25pt 0 12.75pt; text-indent: -8.4pt">2019 - 2/4 of the options</P>
    <P STYLE="font: 7pt/96% Calibri, Helvetica, Sans-Serif; margin: 0.9pt 2.25pt 0 12.75pt; text-indent: -8.4pt">2020 - 3/4 of the options</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2021 - 4/4 of the options</P></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt/6pt Calibri, Helvetica, Sans-Serif; margin: 0 1.4pt 0 2.75pt; text-align: center">50%</P>
    <P STYLE="font: 7pt/6pt Calibri, Helvetica, Sans-Serif; margin: 0 1.45pt 0 2.6pt; text-align: center">06/18/2019</P>
    <P STYLE="font: 7pt/5.95pt Calibri, Helvetica, Sans-Serif; margin: 0.65pt 1.4pt 0 2.75pt; text-align: center">50%</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">06/18/2020</P></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Calibri, Helvetica, Sans-Serif; margin: 0 5.8pt 0 7.7pt; text-indent: 4.9pt">1/3 on 10/01/2019</P>
    <P STYLE="font: 7pt/96% Calibri, Helvetica, Sans-Serif; margin: 0.75pt 5.8pt 0 7.7pt; text-indent: 4.9pt">1/3 on 10/01/2020</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">1/3 on 10/01/2021</P></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Calibri, Helvetica, Sans-Serif; margin: 0 5.55pt 0 7.95pt; text-indent: 4.9pt">1/3 on 06/01/2020</P>
    <P STYLE="font: 7pt/96% Calibri, Helvetica, Sans-Serif; margin: 0.75pt 5.55pt 0 7.95pt; text-indent: 4.9pt">1/3 on 06/01/2021</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">1/3 on 06/01/2022</P></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Calibri, Helvetica, Sans-Serif; margin: 0 5.7pt 0 8.2pt; text-indent: 4.8pt">1/3 on 06/01/2021</P>
    <P STYLE="font: 7pt/96% Calibri, Helvetica, Sans-Serif; margin: 0.75pt 5.7pt 0 8.2pt; text-indent: 4.8pt">1/3 on 06/01/2022</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">1/3 on 06/01/2023</P></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Calibri, Helvetica, Sans-Serif; margin: 0 5.65pt 0 8.15pt; text-align: center; text-indent: 4.9pt">1/3 on 07/01/2022</P>
    <P STYLE="font: 7pt/96% Calibri, Helvetica, Sans-Serif; margin: 0.75pt 5.65pt 0 8.15pt; text-align: center; text-indent: 4.9pt">1/3 on
    07/01/2023</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">1/3 on 07/01/2024</P></TD>
    <TD STYLE="vertical-align: top; width: 8%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Calibri, Helvetica, Sans-Serif; margin: 0 5.65pt 0 8.15pt; text-indent: 4.9pt">1/3 on 07/01/2022</P>
    <P STYLE="font: 7pt/96% Calibri, Helvetica, Sans-Serif; margin: 0.75pt 5.65pt 0 8.15pt; text-indent: 4.9pt">1/3 on 07/01/2024</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">1/3 on 07/01/2025</P></TD></TR>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
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    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
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  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Maximum Term for Exercise of Options</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restriction term on transfer of stocks</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Weighted average price of the exercise of each of the following groups of options</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Open at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">57,65</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">47,68</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Lost during the fiscal year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Exercised during the tax year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Expired during the tax year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>and. fair value of options on the grant date (in Reais)</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Potential dilution in case of exercise of all options granted</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0,39%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0,9%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0,02%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0,02%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0,04%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0,02%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0,04%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0,07%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0,10%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">No dilution</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">No dilution</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>YEAR: 2021</B></FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Board of Directors</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 30%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>b) Total number of members</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 27%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD>
    <TD STYLE="vertical-align: top; width: 21%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD>
    <TD STYLE="vertical-align: top; width: 22%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>c) Number of paid members</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Regarding each granting of stock options</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt/106% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">Restricted Shares</P>
    <P STYLE="font: 7pt/106% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2019</P></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt/106% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">Restricted Shares</P>
    <P STYLE="font: 7pt/106% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2020</P></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt/106% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">Restricted Shares</P>
    <P STYLE="font: 7pt/106% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2021</P></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Date of grant</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">06/08/2018</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">05/01/2020</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Number of options granted</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">100,490</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">359,293</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>

<TR>
    <TD STYLE="border-right: Black 1pt solid; width: 30%; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Maximum Term for Exercise of Options</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 27%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; width: 21%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; width: 22%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Restriction term on transfer of stocks</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">33% - 01/06/2020<BR>
&nbsp;33% - 01/06/2021<BR>
&nbsp;33% - 01/06/2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">50% - 05/01/2021</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">50% - 05/01/2022</P></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Weighted average price of the exercise of each of the following groups of options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Open at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Lost during the fiscal year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Exercised during the tax year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Expired during the tax year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>and. fair value of options on the grant date (in Reais)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Does not apply</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Does not apply</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Does not apply</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Potential dilution in case of exercise of all options granted</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>01</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>0.04%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Does not apply</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>YEAR: 2021</B></FONT></TD>
    <TD COLSPAN="10" STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Statutory Board</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 20%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>b) Total number of members</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>c) Number of paid members</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,17</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,17</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,17</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.33</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.33</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7.8</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Regarding each granting of stock options</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Grant 2016 I</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Grant 2016 II</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Grant 2017 - Extra</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted Shares</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Grant 2017 - Extra II</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted Shares</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted Shares 2018 - Extra 2</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted Shares / Performance Shares</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted Shares / Performance Shares</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted Shares / Performance Shares</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2018</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Date of grant</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">28/04/2016</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">05/31/2016</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">30/03/2017</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">08/31/2017</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12/01/2017</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18/06/2018</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10/01/2018</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">06/01/2019</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">06/01/2020</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">07/01/2021</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Number of options granted</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,200,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">693,860</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">150,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">187,333</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">290,771</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">135,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">319,030</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">429,854</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">923,005</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 5pt">708,014</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="5" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2017 - 1/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2017 - 1/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2018 - 1/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2018 - 30% of shares</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2018 - 1/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">50% - 06/18/2019</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 10/01/2019</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 06/01/2020</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 06/01/2021</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 07/01/2022</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2018 - 2/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2018 - 2/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2019 - 2/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2019 - 70% of shares</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2019 - 2/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">50% - 06/18/2020</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 10/01/2020</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 06/01/2021</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 06/01/2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 07/01/2023</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2019 - 3/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2019 - 3/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2020 - 3/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2020 - 3/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 10/01/2021</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 06/01/2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 06/01/2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 07/01/2024</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2020 - 4/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2020 - 4/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2021 - 4/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2021 - 4/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Maximum Term for Exercise of Options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">04/28/2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">05/31/2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">03/30/2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">01/12/2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restriction term on transfer of stocks</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Weighted average price of the exercise of each of the following groups of options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Open at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">57.65</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">47.68</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Does not apply</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Does not apply</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Does not apply</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Does not apply</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Does not apply</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Does not apply</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Lost during the fiscal year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>

<TR>
    <TD STYLE="width: 20%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Exercised during the tax year</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Expired during the tax year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>and. fair value of options on the grant date (in Reais)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9,21</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10.97</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9,45</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">41.85</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7.91</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">20</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">21.44</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">30.61</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">21.28</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">28.58</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Potential dilution in case of exercise of all options granted</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.39%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.09%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.02%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.02%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.04%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.02%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.04%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.07%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.10%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">0.10%</P></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">*Share price based on the average of the last
20 trading sessions prior to March 17, 2021 for projected share distribution.</P>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 46%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>YEAR: 2020 - Board of Directors</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 27%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 27%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>b) Total number of members</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>c) Number of paid members</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Regarding each granting of stock options</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt/106% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">Restricted Shares</P>
    <P STYLE="font: 7pt/106% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2019</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt/106% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">Restricted Shares</P>
    <P STYLE="font: 7pt/106% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><BR>
    2020</P></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Date of grant</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">06/08/2018</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">05/01/2020</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Number of options granted</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">100,490</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">359,293</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Maximum Term for Exercise of Options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Restriction term on transfer of stocks</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">33% - 01/06/2020<BR>
&nbsp;33% - 01/06/2021<BR>
&nbsp;33% - 01/06/2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">50% - 05/01/2021<BR>
&nbsp;50% - 05/01/2022</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Weighted average price of the exercise of each of the following groups of options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Open at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Lost during the fiscal year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Exercised during the tax year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Expired during the tax year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>and. fair value of options on the grant date (in Reais)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Does not apply</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Does not apply</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Potential dilution in case of exercise of all options granted</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>01</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>.04 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>YEAR: 2020</B></FONT></TD>
    <TD COLSPAN="9" STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Statutory Board</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 19%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>b) Total number of members</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>c) Number of paid members</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,17</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,17</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,17</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.33</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.33</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7.8</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Regarding each granting of stock options</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Grant 2016 I</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Grant 2016 II</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Grant 2017 - Extra</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted Shares</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Grant 2017 - Extra II</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted Shares</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted Shares 2018 - Extra 2</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted Shares / Performance Shares</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted Shares / Performance Shares</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2018</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Date of grant</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">28/04/2016</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">05/31/2016</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">30/03/2017</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">08/31/2017</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12/01/2017</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18/06/2018</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10/01/2018</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">06/01/2019</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">06/01/2020</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Number of options granted</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,200,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">693,860</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">150,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">187,333</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">290,771</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">135,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">319,030</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">429,854</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">923,005</FONT></TD></TR>

<TR>
    <TD ROWSPAN="5" STYLE="width: 19%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="width: 9%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2017 - 1/4 of the options</FONT></TD>
    <TD STYLE="width: 9%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2017 - 1/4 of the options</FONT></TD>
    <TD STYLE="width: 9%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2018 - 1/4 of the options</FONT></TD>
    <TD STYLE="width: 9%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2018 - 30% of shares</FONT></TD>
    <TD STYLE="width: 9%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2018 - 1/4 of the options</FONT></TD>
    <TD STYLE="width: 9%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">50% - 06/18/2019</FONT></TD>
    <TD STYLE="width: 9%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 10/01/2019</FONT></TD>
    <TD STYLE="width: 9%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 06/01/2020</FONT></TD>
    <TD STYLE="width: 9%; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 06/01/2021</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2018 - 2/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2018 - 2/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2019 - 2/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2019 - 70% of shares</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2019 - 2/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">50% - 06/18/2020</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 10/01/2020</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 06/01/2021</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 06/01/2022</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2019 - 3/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2019 - 3/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2020 - 3/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2020 - 3/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 10/01/2021</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 06/01/2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1/3 on 06/01/2023</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2020 - 4/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2020 - 4/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2021 - 4/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2021 - 4/4 of the options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Maximum Term for Exercise of Options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">04/28/2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">05/31/2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">03/30/2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">01/12/2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restriction term on transfer of stocks</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Weighted average price of the exercise of each of the following groups of options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Open at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">57.65</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">47.68</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Does not apply</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Does not apply</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Does not apply</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Does not apply</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Does not apply</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Lost during the fiscal year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Exercised during the tax year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Expired during the tax year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>and. fair value of options on the grant date (in Reais)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9,21</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10.97</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9,45</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">41.85</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7.91</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">20</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">21.44</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">30.61</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">21.28</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Potential dilution in case of exercise of all options granted</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.39%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.09%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.02%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.02%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.04%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.02%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.04%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.07%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.10%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 46%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>YEAR: 2019 - Board of Directors</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 27%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 27%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>b) Total number of members</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>c) Number of paid members</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Regarding each granting of stock options</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt/106% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">Restricted Shares</P>
    <P STYLE="font: 7pt/106% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2018</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt/106% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">Restricted Shares</P>
    <P STYLE="font: 7pt/106% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2019</P></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Date of grant</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">06/08/2018</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">06/08/2018</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Number of options granted</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">276,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">100,490</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">N/A</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">N/A</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Maximum Term for Exercise of Options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Restriction term on transfer of stocks</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">50% - 06/08/2019</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">50% - 06/08/2019</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">33% - 01/06/2020</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">33% - 01/06/2021</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">33% - 01/06/2022</P></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Weighted average price of the exercise of each of the following groups of options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Open at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Does not apply</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Does not apply</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Lost during the fiscal year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Exercised during the tax year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Expired during the tax year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>and. fair value of options on the grant date (in Reais)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">22.29</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">30.61</FONT></TD></TR>

<TR>
    <TD STYLE="border-right: Black 1pt solid; width: 46%; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Potential dilution in case of exercise of all options granted</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 27%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.03%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 27%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.01%</FONT></TD></TR>
  </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>YEAR: 2019</B></FONT></TD>
    <TD COLSPAN="8" STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Statutory Board</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 31%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>b) Total number of members</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="width: 7%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; width: 10%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>c) Number of paid members</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,17</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,17</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,17</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.33</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.33</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Regarding each granting of stock options</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Grant 2016 I</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Grant 2016 II</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Grant 2017 - Extra</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Restricted Shares</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Grant 2017 - Extra II</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Restricted Shares</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Restricted Shares 2018 - Extra 2</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Restricted Shares / Performance Shares</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Date of grant</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">28/04/2016</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">05/31/2016</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">30/03/2017</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">08/31/2017</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">12/01/2017</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">18/06/2018</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10/01/2018</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">06/01/2019</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Number of options granted</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">3,200,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">693,860</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">150,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">187,333</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">290,771</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">135,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">319.030</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">429,854</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Deadline for options to become exercisable</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2017 - 1/4 of the options</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2018 - 2/4 of the options</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2019 - 3/4 of the options</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2020 - 4/4 of the options</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2017 - 1/4 of the options</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2018 - 2/4 of the options</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2019 - 3/4 of the options</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2020 - 4/4 of the options</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2018 - 1/4 of the options</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2019 - 2/4 of the options</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2020 - 3/4 of the options</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2021 - 4/4 of the options</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2018 - 30% of shares</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2019 - 70% of shares</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2018 - 1/4 of the options</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2019 - 2/4 of the options</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2020 - 3/4 of the options</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2021 - 4/4 of the options</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">50% - 06/18/2019</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">50% - 06/18/2020</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">1/3 on 10/01/2019</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">1/3 on 10/01/2020</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">1/3 on 10/01/2021</P></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">1/3 on 06/01/2020</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">1/3 on 06/01/2021</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">1/3 on 06/01/2022</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Maximum Term for Exercise of Options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">04/28/2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">05/31/2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">03/30/2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">01/12/2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Restriction term on transfer of stocks</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Weighted average price of the exercise of each of the following groups of options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Open at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">57.65</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">47.68</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Does not apply</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Does not apply</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Does not apply</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Does not apply</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Lost during the fiscal year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Exercised during the tax year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 7.3pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">Expired during the tax year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>and. fair value of options on the grant date (in Reais)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">9,21</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">10.97</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">9,45</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">41.85</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">7.91</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">20.00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">21.44</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">30.61</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Potential dilution in case of exercise of all options granted</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.39%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.09%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.02%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.02%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.04%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.02%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.03%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0.07%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>13.6 Information on the outstanding options
held by the board of directors and the statutory management</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The members of the Company's Board of Directors
are entitled to share-based compensation as of 2018, and there are no outstanding options for the Board of Directors on the date of this
Reference Form.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In relation to the Restricted Shares Granting
Plan, approved in the AGO/E of April 8, 2015, there is no grant of purchase option, but the transfer of Company shares upon compliance
with certain conditions described in item 13.4 above.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">With respect to the options outstanding as
of December 31, 2021, the information on the options held by the statutory board is indicated below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>2021</B></FONT></TD>
    <TD COLSPAN="11" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Statutory Board</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 20%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>Year of Grant</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Grant 2016</FONT></TD>
    <TD STYLE="width: 6%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Grant 2016 I</FONT></TD>
    <TD STYLE="width: 6%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2017 Extra Grant</FONT></TD>
    <TD STYLE="width: 7%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted Shares</FONT></TD>
    <TD STYLE="width: 7%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2017 Extra Grant II</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted Shares</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restricted Shares<BR>
&nbsp;2018 - Extra II</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">Restricted Shares / Performance Shares -</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2019</P></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">Restricted Shares / Performance Shares -</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2019</P></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">Restricted Shares / Performance Shares -</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2020</P></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">Restricted Shares / Performance Shares -</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">2020</P></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>b) Total number of members</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 12pt Arial Unicode MS; padding-left: 0.5in; text-align: center; text-indent: -0.25in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 12pt Arial Unicode MS; padding-left: 0.5in; text-align: center; text-indent: -0.25in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">2.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>c) Number of paid members</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,17</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6,17</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">4.33</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">6</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>In relation to options still not exercisable</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">i - amount</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8,545</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">135,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">319,030</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">100,490</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">429,854</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">96,366</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">477,590</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Date on which they will become exercisable</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">8,545 on 04/28/2020</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0.4pt 0 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">N/A</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0.4pt 0 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">N/A</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0.4pt 0 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">N/A</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0.4pt 0 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">N/A</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt/96% Tahoma, Helvetica, Sans-Serif; margin: 0 12.65pt 0 13.35pt; text-align: center; text-indent: 1.05pt">67,500 on
    06/18/2019</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">67,500 on 06/18/2020</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 8.8pt 0 9.5pt; text-align: center; text-indent: 4.9pt">1/3 on 10/01/2019</P>
    <P STYLE="font: 7pt/98% Tahoma, Helvetica, Sans-Serif; margin: 0 8.8pt 0 9.5pt; text-align: center; text-indent: 4.9pt">1/3 on 10/01/2020</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">1/3 on 10/01/2021</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 8.6pt 0 9.35pt; text-align: center; text-indent: 4.9pt">1/3 on 06/01/2020</P>
    <P STYLE="font: 7pt/98% Tahoma, Helvetica, Sans-Serif; margin: 0 8.6pt 0 9.35pt; text-align: center; text-indent: 4.9pt">1/3 on 06/01/2021</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">1/3 on 06/01/2022</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 8.6pt 0 9.45pt; text-align: center; text-indent: 4.8pt">1/3 on 06/01/2020</P>
    <P STYLE="font: 7pt/98% Tahoma, Helvetica, Sans-Serif; margin: 0 8.6pt 0 9.45pt; text-align: center; text-indent: 4.8pt">1/3 on 06/01/2021</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">1/3 on 06/01/2022</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 8.6pt 0 9.45pt; text-align: center; text-indent: 4.8pt">1/3 on 06/01/2021</P>
    <P STYLE="font: 7pt/98% Tahoma, Helvetica, Sans-Serif; margin: 0 8.6pt 0 9.45pt; text-align: center; text-indent: 4.8pt">1/3 on 06/01/2022</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">1/3 on 06/01/2023</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0 8.6pt 0 9.45pt; text-align: center; text-indent: 4.8pt">1/3 on 06/01/2021</P>
    <P STYLE="font: 7pt/98% Tahoma, Helvetica, Sans-Serif; margin: 0 8.6pt 0 9.45pt; text-align: center; text-indent: 4.8pt">1/3 on 06/01/2022</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">1/3 on 06/01/2023</P></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Maximum Term for Exercise of Options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">04/28/2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">05/31/2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">03/30/2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">01/12/2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restriction Term on Transfer of Stocks.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Weighted Average Price of the Fiscal Year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">58.53</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">48.41</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">38.75</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Not applicable</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">41.87</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Not applicable</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Not applicable</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Not applicable</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Not applicable</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Not applicable</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Not applicable</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">vi - fair value of options on the last day of the fiscal year1</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9,21</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10.97</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9,21</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Not applicable</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10.97</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Not applicable</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Not applicable</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Not applicable</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Not applicable</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Not applicable</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Not applicable</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt"><B>e. in relation to exercisable options1 </B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">i - amount</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">8,545</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Maximum Term for Exercise of Options</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">04/28/2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">05/31/2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">03/30/2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">01/12/2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Restriction Term on Transfer of Stocks.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">1 year</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD></TR>

<TR>
    <TD STYLE="border-right: Black 1pt solid; width: 20%; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">iv - weighted average strike price2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 6%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">58.53</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 6%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">48.41</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 6%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 7%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 7%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 8%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 8%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 8%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 8%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 8%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 8%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">v - fair value of options on the last day of the fiscal year3</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9,21</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">10.97</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">9,45</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">7.91</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">Fair value of the total of options at the last day of the fiscal year.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0.35pt 0 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">BRL 78,699.45</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0.35pt 0 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">N/A</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0.35pt 0 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">N/A</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0.35pt 0 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">-</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0.35pt 0 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">N/A</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0.35pt 0 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">-</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0.35pt 0 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">-</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>13.7 - Exercised options and delivered shares
relating to share-based remuneration of the Board of Directors and Statutory Board</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The members of the Company's Board of Directors
were entitled to share-based compensation as of 2018.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 58%; border: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Exercised options - fiscal year ended on 12/31/2016</B></FONT></TD>
    <TD STYLE="width: 24%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Statutory Board</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>No. of members</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>10</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>8</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Number of paid members</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>8</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Exercised Options</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">No. of shares</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Weighted Average Price of the Fiscal Year</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Total Value of the Difference between the Exercise Value and the Market Value of Stocks Relating to Options Exercised</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares Delivered</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">No. of shares</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">708,014</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Weighted Average Price for Purchase</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Difference between the purchase value and the market value of the stocks acquired</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Exercised options - fiscal year ended on 12/31/2016</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Statutory Board</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>No. of members</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>10</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>8</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Number of paid members</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>1</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>8</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Exercised Options</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">No. of shares</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Weighted Average Price of the Fiscal Year</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Total Value of the Difference between the Exercise Value and the Market Value of Stocks Relating to Options Exercised</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares Delivered</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">No. of shares</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">359,293</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">923,005</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Weighted Average Price for Purchase</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Difference between the purchase value and the market value of the stocks acquired</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Exercised options - fiscal year ended on 12/31/2016</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Board of Directors</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Statutory Board</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>No. of members</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">10</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">8</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Number of paid members</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">1</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">8</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Exercised Options</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">No. of shares</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Weighted Average Price of the Fiscal Year</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Total Value of the Difference between the Exercise Value and the Market Value of Stocks Relating to Options Exercised</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares Delivered</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">No. of shares</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">100,490</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">429,854</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Weighted Average Price for Purchase</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Difference between the purchase value and the market value of the stocks acquired</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>13.8 - Necessary information for understanding
disclosed data on items 13.5 to 13.7 - Method of pricing of shares and options value</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;pricing
model </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Stock Option Plans:</B> For pricing, the
model is used <I>Black-Scholes-Merton.</I></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Restricted Stock Plans with grants prior
to October 2018:</B> For pricing, the average value of the closing price of the trading session on the date the shares are granted is
used.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Restricted Stock Plans granted after October
2018, including:</B> For pricing, the average value of the closing price of the 20 trading sessions prior to the share grant date is used.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;data
and assumptions used in model of pricing, including weighted average price of shares, exercise price, expected volatility, option life
period, expected dividends and interest risk-free rate </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Stock Option Plans</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Considering that the values related to the
grant cycle consider the grants made up to the date of preparation of this Reference Form, the following assumptions were used for the
pricing of the options target of the Company's Stock Option Plans:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#252;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><U>share price</U> : used the
closing price of the trading session prior to the grant date (B3 - <I>ticker</I> BRFS3);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#252;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><U>exercise price</U> : result
of the average closing price of the trading session (B3 &ndash; <I>ticker</I> BRFS3) of the last 20 trading sessions prior to the option
grant date, adjusted by the IPCA;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#252;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><U>option life term</U> : The
options granted under the Stock Option Plans may be exercised by the participants, respecting the minimum grace periods established below:
</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">Stock Option Plan in force,
approved on AGO/E of 04/08/15 and modified in AGO/E of 04/27/20: (a) up to 1/4 of the total options may be exercised after one year from
the signature of the grant agreement; (b) up to 2/4 of the total options may be exercised two years after the signature of the grant agreement;
(c) up to 3/4 of the total options may be exercised after three years from the signature of the grant agreement; (d) all options may be
exercised four years after the signature of the grant agreement; and (e) the maximum period of six years after the grant for the exercise
of the options;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">Stock Option Plan (<I>Performance
Stock Options</I>) discontinued on March 31, 2015: the options will become exercisable, after a grace period of at least 18 months and
at most 24 months from the grant date, as defined by the Board of Directors of the Company;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#252;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><U>Risk Free Rate</U> : as the
risk-free rate, the NTN-B (National Treasury Note) available on the pricing date and with a maturity equivalent to the life of the option
is considered;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#252;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><U>Dividend rate</U> : the Company's
dividend payment history in the last two years is considered; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#252;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt"><U>Volatility of the nominal
shares issued by the Company</U> : The Company uses the weighted volatility of the history of its nominal shares to establish the volatility
rate.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Restricted Stock Plans</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Not applicable to modeling or calculation assumptions,
since, unlike stock options, the number of shares is fixed from the definition of the remuneration amount. Once this definition is made,
the value is converted into the number of shares, considering their market value.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;method
used and assumptions taken to incorporate expected effects of early exercise </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Stock Option Plans</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">According to the pricing methodology of the
target options ( <I>Black-Scholes-Merton</I> ) and the characteristics of the Company's Stock Option Plans, assumptions are not used to
incorporate the effects of early exercise.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Restricted Stock Plans:</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(d) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;manner
of determination of expected volatility </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Stock Option Plans</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company uses the historical volatility
of its nominal shares to establish the volatility rate.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Restricted Stock Plans</B> :</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
any other option feature was incorporated in measurement of its fair value</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Stock Option Plans</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>Restricted Stock Plans </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Not applicable.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>13.9 - Stockholdings in stocks, shares and
other convertible securities held by managers and fiscal council members - by body </B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The interests in shares, quotas and other convertible
securities, held by the managers and fiscal councilors, directly or indirectly, grouped by body, on the closing date of the last fiscal
year are indicated below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 36%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 32%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Common Shares Issued by the Company</B></FONT></TD>
    <TD STYLE="width: 32%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>ADRs backed by Common Shares issued by the Company</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Board of Directors</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">6,865,302</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;0</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Executive Board</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">605,902</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;0</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Fiscal Council</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">600</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;0</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>13.10 - Information on pension plans granted
to members of the board of directors and statutory officers</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: white">
    <TD STYLE="border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Board of Directors</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Statutory Board</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 21%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>b) Number of members</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 18%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">9.42</FONT></TD>
    <TD STYLE="vertical-align: top; width: 17%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">1</FONT></TD>
    <TD STYLE="vertical-align: top; width: 17%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">7</FONT></TD>
    <TD STYLE="vertical-align: top; width: 27%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">0</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>c) Number of paid members</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">0</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Plan name</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0.3pt 0 0"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">N/A</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt/8.1pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 11.2pt; text-indent: -1.95pt">BENEFITS PLAN</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">(closed to new members)</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt/8.1pt Tahoma, Helvetica, Sans-Serif; margin: 0 6.25pt 0 7.3pt; text-align: center">BENEFITS PLAN</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">(open for new members)</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">FAF Benefit Plan (closed to new members)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Number of managers who meet the conditions to retire</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0.15pt 0 0"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">N/A</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">0</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">1</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">0</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Conditions for early retirement </B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0.2pt 0 0"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">N/A</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 11pt/98% Calibri, Helvetica, Sans-Serif; margin: 0 2.35pt 0 3.15pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">55 years of age;</FONT></P>
    <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 2.3pt 0 3.15pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">3 years of credited service (participation in the plan);</FONT></P>
    <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 2.2pt 0 3.15pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Termination of employment relationship with the</FONT></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">Sponsor</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 11pt/98% Calibri, Helvetica, Sans-Serif; margin: 0 2.2pt 0 3.3pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">55 years of age;</FONT></P>
    <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 2.15pt 0 3.3pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">3 years of credited service (participation in the plan);</FONT></P>
    <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 2.05pt 0 3.3pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Termination of employment relationship with the</FONT></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">Sponsor</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 11pt/98% Calibri, Helvetica, Sans-Serif; margin: 0 2.1pt 0 3.45pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;
    </FONT><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">Completion of the 10-year period of contribution to the
    plan</FONT></P>
    <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 2.05pt 0 3.45pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt">-</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">To be entitled to a retirement benefit for the time of
    contribution granted by the Official Pension Scheme</FONT></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">Termination of employment with the Sponsor</P></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Updated accumulated value of contributions accumulated in the pension plan until the end of the last fiscal year, discounting the portion related to contributions made directly by the managers</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0.35pt 0 0"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">N/A</P></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">BRL 932,827.10</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">BRL 3,078,760.94</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>Total accumulated amount of contributions made during the last fiscal year, discounted the portion relating to contributions made directly by the managers</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">N/A</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">BRL 102,687.32</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">BRL 826,323.05</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">BRL 0,00</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt"><B>h. if there is the possibility of early redemption and which conditions</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0.35pt 0 0"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">N/A</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt/98% Tahoma, Helvetica, Sans-Serif; margin: 0 9pt 0 9.85pt; text-align: justify; text-indent: 3.1pt">There is no provision
    for early redemption, except at the end of the</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">employment bond; employment relationship; ties</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 8pt/98% Tahoma, Helvetica, Sans-Serif; margin: 0 8.85pt 0 10pt; text-align: justify; text-indent: 3.1pt">There is no provision
    for early redemption, except at the end of the</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">employment bond; employment relationship; ties</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt">There is no provision for early redemption, except at the end of the employment relationship.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&sup1; Fulfills the conditions, however, it
is necessary that the employment relationship ends.</P>

<P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&sup2; Total value of sponsor contributions
(since joining the Plan) plus profitability.</P>

<P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>13.11 - Maximum, minimum and average individual
compensation for the board of directors, Board of Officersand fiscal council</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="2" STYLE="border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt; line-height: 106%"><B>Statutory Board</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt; line-height: 106%"><B>Board of Directors</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 6pt; line-height: 106%"><B>Fiscal Council</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>12/31/2021</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>12/31/2020</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>12/31/2019</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>12/31/2021</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>12/31/2020</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>12/31/2019</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>12/31/2021</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>12/31/2020</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>12/31/2019</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 7%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>No. of members</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>8</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">8</FONT></TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">8</FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">10</FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">10</FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">10</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">10</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">3</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">3</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Number of paid members</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">8</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">8</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">10</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">10</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">10</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">10</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">3</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">3</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>The Highest Compensation Value (Reais)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">15,424,050.3</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">13,409,440.50</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">10,105,934.60</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">11.288.495,33</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">12,878,285.10</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">9,745,064.20</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">13,716,077.3</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">204,000.00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">198,830.00</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>The Lowest Compensation Value (Reais)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">5,076,130.9</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">4,118,809.60</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">4,181,110.20</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">480.000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">480,000.00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">480,000.00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">480.000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">168,000.00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">173,438.00</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%"><B>Average Compensation Value (Reais)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">7,488,523.3</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">8,634,375.00</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">9,434,781.20</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">1,512,881.5</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">2,013,438.30</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">2,083,839.1 0</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">1,512,881.5</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">177,616.70</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 7pt; line-height: 106%">177,000.00</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>Note</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD COLSPAN="2" STYLE="border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt; line-height: 106%"><B>Board of Directors, Fiscal Council and Statutory Board</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 11%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt; line-height: 106%"><B>12/31/2021</B></FONT></TD>
    <TD STYLE="width: 89%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">For the highest and lowest individual remuneration,
    members who have held the position for less than 12 months were excluded, as per the specific instruction in this item.</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">[For the average amount of remuneration, all the elements
    informed in item 13.2 are considered.]</P></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt; line-height: 106%"><B>12/31/2020</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">For the highest and lowest individual remuneration,
    members who have held the position for less than 12 months were excluded, as per the specific instruction in this item.</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">For the average amount of remuneration, all elements
    informed in item 13.2 are considered.</P></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 8pt; line-height: 106%"><B>12/31/2019</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">For the highest and lowest individual remuneration,
    members who have held the position for less than 12 months were excluded, as per the specific instruction in this item.</P>
    <P STYLE="font: 8pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">For the average amount of remuneration, all elements
    informed in item 13.2 are considered.</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>13.12 - Compensation or indemnity mechanisms
for management in case there is a position cancellation or retirement</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Company has entered into certain contractual
agreements with certain directors which provide for the payment of compensation to the director, for the period of 3 (three) years counted
the termination of the relationship with the Company, as a form of compensation for prohibiting the practice of acts considered to be
in competition with the Company. This mechanism aims to reduce the financial impacts of the administrator due to the limitations applied
in his professional field, due to the execution of the contract. If the indemnity becomes due, there will be no material financial impacts
for the Company.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">For more information on insurance policies
and/or indemnity contracts, see section 12.11 of this Reference Form.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>13.13 - Percentage of total remuneration
held by managers and members of the finance committee who are parties related to controllers</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In the last three fiscal years, there was no
percentage of the total remuneration of each body recognized in the result that are parties related to the controllers, direct or indirect,
considering that the Company does not have direct or indirect controllers.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>13.14 - Remuneration of managers and members
of the Finance Committee, ranged by body, received for any reason other than the position held</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In the last three fiscal years, there was no
amount recognized in the result as remuneration of the members of the Board of Directors, the Statutory Board of Executive Officers or
the Fiscal Council, for any reason other than the function they occupy, such as commissions and consulting or advice provided.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>13.15 - Remuneration of managers and members
of the finance committee recognized in the result of directs or indirect controllers of partnerships under common control and issuer controlled.</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In the last three fiscal years, there was no
amount recognized in the results of direct or indirect controllers, of companies under common control and of the issuer's subsidiaries,
as remuneration of members of the Board of Directors, Statutory Board of Executive Officers or the Company's Fiscal Council.</P>


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<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>13.16 - Other relevant information</B></P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">There is no other information that the Company
deems relevant in relation to this Section 13 of the Reference Form.</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: bold 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">BRF S.A.</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Attachment V &ndash; Information on candidates
for the positions of members of the Fiscal Council (Items 12.5 to 12.10 of the Reference Form, according to CVM Instruction No. 480, of
December 7, 2009)</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0">12.5. Composition and professional experience of the Supervisory
Board</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 28%; border: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Name</TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of birth</TD>
    <TD STYLE="width: 22%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">administration body</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of election</TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Term of Office</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">CPF</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Occupation</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elective position held</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Possession Date</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elected by the Controller</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Other positions held in the issuer</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">No. of Consecutive Mandates</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Independent Member</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Bernardo Szpigel</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">09/27/1945</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Belongs only to the Fiscal Council</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">069.291.337-87</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Mechanical Engineer</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">CF (Effective)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Yes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 29%; border: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Name</TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of birth</TD>
    <TD STYLE="width: 22%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">administration body</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of election</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Term of Office</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">CPF</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Occupation</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elective position held</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Possession Date</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elected by the Controller</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Other positions held in the issuer</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">No. of Consecutive Mandates</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Independent Member</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Ana Paula Teixeira de Sousa</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">09/02/1970</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Belongs only to the Fiscal Council</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">536.875.581-34</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Accountant</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">CF (Effective)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Yes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 29%; border: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Name</TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of birth</TD>
    <TD STYLE="width: 22%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">administration body</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of election</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Term of Office</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">CPF</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Occupation</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elective position held</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Possession Date</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elected by the Controller</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Other positions held in the issuer</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">No. of Consecutive Mandates</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Independent Member</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Attilio Guaspari</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">10/20/1946</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Belongs only to the Fiscal Council</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">04.27.2021</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">OGM 2022</FONT></TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">610.204.868-72</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Civil Engineer</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">CF (Effective)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">04.27.2021</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">16<SUP>th</SUP> term of office</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Yes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  </TABLE>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 29%; border: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Name</TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of birth</TD>
    <TD STYLE="width: 22%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">administration body</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of election</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Term of Office</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">CPF</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Occupation</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elective position held</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Possession Date</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elected by the Controller</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Other positions held in the issuer</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">No. of Consecutive Mandates</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Independent Member</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Valdecyr Maciel Gomes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">06/13/1962</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Belongs only to the Fiscal Council</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">04.27.2021</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">OGM 2022</FONT></TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">718.224.887-53</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Lawyer</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">CF (Alternate)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">04.27.2021</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">4<SUP>th</SUP> term of office</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Yes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 29%; border: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Name</TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of birth</TD>
    <TD STYLE="width: 22%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">administration body</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of election</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Term of Office</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">CPF</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Occupation</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elective position held</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Possession Date</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elected by the Controller</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Other positions held in the issuer</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">No. of Consecutive Mandates</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Independent Member</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Cristina Ferreira de Brito</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">09/06/1963</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Belongs only to the Fiscal Council</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">319.156.715-15</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Accountant</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">CF (Alternate)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">1<SUP>st</SUP> term of office</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Yes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 29%; border: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Name</TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of birth</TD>
    <TD STYLE="width: 22%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">administration body</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Date of election</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Term of Office</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">CPF</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Occupation</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elective position held</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Possession Date</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Elected by the Controller</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Other positions held in the issuer</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">No. of Consecutive Mandates</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/115% Tahoma, Helvetica, Sans-Serif; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">Independent Member</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Marcus Vinicius Dias Severini</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">08/27/1957</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Belongs only to the Fiscal Council</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">04.27.2021</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">OGM 2022</FONT></TD></TR>
  <TR STYLE="">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">632.856.067-20</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Accountant and Electric Engineer</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">CF (Alternate)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">04.27.2021</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">No</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">1<SUP>st</SUP> term of office</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%; "><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt; line-height: 115%; ">Yes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; padding-top: 1.4pt; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; "><FONT STYLE="line-height: 115%; ">Bernardo
    Szpigel</FONT> <FONT STYLE="">Brazilian Register of Individual Taxpayer &ndash; CPF 069.291.337-87</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify; "><FONT STYLE="">Mr.
    Bernardo is a Mechanical Engineer graduated from ITA; Master in Engineering from PUC-RJ. PHD in Business Administration from the University
    of California. He was CFO of Bahia Sul and Suzano Papel e Celulose.</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 8pt 0; text-align: justify; background-color: white">Mr. Bernardo
    has not suffered, in the last five years, any conviction (i) criminal, (ii) in an administrative proceeding of the CVM or (iii) final
    and unappealable, in the judicial or administrative sphere, which has suspended or disqualified him from the practice of any professional
    activity or commercial.</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 8pt 0; text-align: justify; background-color: white">Mr. Bernardo
    declared that he is not a Politically Exposed Person, pursuant to the provisions of CVM Resolution 50/21, as amended, as he does not fit
    into any of the situations that characterize a Politically Exposed Person.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; "><FONT STYLE="">Ana
    Paula Teixeira de Sousa Brazilian Register of Individual Taxpayer &ndash; CPF 536.875.581-34</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify; "><FONT STYLE="">Ms.
    Ana Paula has a degree in accounting from UNB; Post-Graduation in Accounting Sciences from Funda&ccedil;&atilde;o Get&uacute;lio Vargas;
    MBA in finance and international business from USP. He holds a master's degree in economics from UNB. Mrs. Ana has been Vice President
    of Internal Controls and Risk Management at Banco do Brasil since May 2021. She also held the positions of director of internal controls
    at Banco do Brasil. She was president director of BESCVAL and commercial and products director of BB DTVM. He is a member of the board
    of directors of livelo and a member of the board of directors of BB Administradora de Consortia.</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify; "><FONT STYLE="">Mrs.
    Ana Paula has not suffered, in the last five years, any conviction (i) criminal, (ii) in an administrative proceeding of the CVM or (iii)
    final and unappealable, in the judicial or administrative sphere, which has suspended or disqualified her from the practice of any activity
    professional or commercial.</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify; "><FONT STYLE="">Mrs.
    Ana Paula declared to be a Politically Exposed Person, pursuant to the provisions of CVM Resolution 50/21.</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; "><FONT STYLE="">Attilio
    Guaspari Brazilian Register of Individual Taxpayer &ndash; CPF 610.204.868-72</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 9pt/107% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 8pt 0; text-align: justify">Mr. Attilio holds a degree in engineering
    from the Polytechnic School of the University of S&atilde;o Paulo - USP and a master&rsquo;s degree in Administration Sciences from UFRJ.
    He was a member of the Audit Committee of the National Development Bank --BNDES and Chairman of the Fiscal Council and Fiscal Council
    of Perdig&atilde;o and BRF, with the appointment of a financial specialist for the audit committee. He has extensive experience in the
    position of Internal Audit Officer, as Financial Director and member of the board of directors. Mr. Attilio has not suffered, in the last
    five years, any (i) criminal conviction, (ii) in a CVM administrative proceeding or (iii) unappealable, in the judicial or administrative
    sphere, which has suspended or disqualified him from practicing a professional activity or any commercial.</P></TD></TR>
  </TABLE>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; "><FONT STYLE="">Valdecyr
    Maciel Gomes Brazilian Register of Individual Taxpayer &ndash; CPF 718.224.887-53</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify">Mr. Valdecyr holds a law degree from
    Universidade Federal Fluminense - UFF (1986), with a specialization in International Financial Law at Euromoney, Oxford University (1997)
    and participation in the Advanced Executive Program of the Kellogg School of Management at Northwestern University (2013). From March
    2014 to September 2016, he served as head for Latin America and Managing Partner from Brookfield Asset Management. From March 2008 to
    September 2013, he was CEO and President of Brookfield Asset Management, as well as other companies in the group (Banco Brascan SA, Brookfield
    Servi&ccedil;os Financeiros Ltda., Brascan Corretora de Titulos e Valores Mobili&aacute;rios, BRKB DTVM SA, BRKB Consultoria and Brookfield
    Gest&atilde;o de Ativos Ltda.). From September 2013 to September 2016, he was Director and Vice President of Brookfield Asset Management,
    as well as: Director and Executive Vice President and Managing Partner of Brookfield Brasil Ltda. and Brookfield Participa&ccedil;&otilde;es
    Ltda.; Director of Brookfield Brazil Ltd. and Brookfield Brasil Asset Management Investimentos Ltda.; Director of Fisher Eagle Capital
    Investments LLC and Marlin Capital Investiments LLC. From 2008 to June 2011 he was Director of Brascan Holdings Plc, responsible for the
    constitution and management of the company, whose function was to raise funds abroad for investments in Brazil. From 2001 to 2008, he
    was Executive Vice President of Banco Brascan SA, having served as Legal Director of the same institution from 1997 to 2001. From 1990
    to 1997, he served as tax inspector for the Municipality of Rio de Janeiro and as a lawyer for Brascan Brasil Ltda. From 1983 to 1990,
    he was a lawyer at Banco Garantia SA and, in 1982, he was an Army Officer of the Federal Government, as a troop commander. Mr. Valdecyr
    also acts as member of the Board of Directors at Santos Brasil Participa&ccedil;&otilde;es S.A. and Chairman of the Ethics Council at
    Anbima &ndash; Associa&ccedil;&atilde;o Brasileira de Entidades dos Mercados Financeiros e de Capitais. Mr. Valdecyr has not suffered,
    in the last five years, any (i) criminal conviction, (ii) in CVM administrative proceeding or (iii) unappealable, in the judicial or administrative
    sphere, which has suspended or disqualified him from practicing a professional activity or any commercial.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; "><FONT STYLE="">Cristina
    Ferreira de Brito Brazilian Register of Individual Taxpayer &ndash; CPF 319.156.715-15</FONT></P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify; "><FONT STYLE="">Mrs.
    Cristina holds a degree in Accounting (1989) and a specialization in auditing (1999) from Funda&ccedil;&atilde;o Visconde do Cair&uacute;
    and a MBAin Internal Controls from FIPECAFI/USP (2004). From September 2010 to December 2019 she was Executive Audit Manager at Caixa
    Econ&ocirc;mica Federal and from April 2014 to April 2015 she was member of the Fiscal Council at Norte Energia SA. Mrs. Cristina has
    not suffered, in the last five years, any (i) criminal conviction, (ii) in CVM administrative proceeding or (iii) unappealable, in the
    judicial or administrative sphere, which has suspended or disqualified him from practicing a professional activity or any commercial.</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1.4pt">
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0">Marcus Vinicius Dias Severini Brazilian Register of Individual Taxpayer
    &ndash; CPF 632.856.067-20</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 9pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify; "><FONT STYLE="">Mr.
    Marcus Severini holds a degree in Accounting Sciences from UniverCidade and Electrical Engineering from Universidade Federal Fluminense
    and postgraduated in Electrical Engineering from SUAm &ndash; Sociedade Universit&aacute;ria Augusto Mota. Mr. Marcus Severini has 12
    years of experience in consulting and auditing work, acquired in a multinational company, the Arthur Andersen S/C. Mr. Marcus Severini
    acted as Controller Officer at Vale S.A., in the period between May 2007 and March 2015, where he joined in October 1994, holding several
    positions. In addition, Mr. Marcus Severini was Chairman of the Board of Directors of Funda&ccedil;&atilde;o Vale do Rio Doce e Seguridade
    Social &ndash; VALIA (2007-2015). Mr. Marcus Severini held positions as member of the Fiscal Council of companies as Millis Estuturas
    e Servi&ccedil;os de Engenharia S.A. (2015&ndash;2018), BRF S.A. (2015&ndash;2019) and Vale S.A. (2017-2019). Currently, he acts as member
    of the Audit Committee at Funda&ccedil;&atilde;o Vale do Rio Doce Seguridade Social &ndash; VALIA and OceanPact Servi&ccedil;os Mar&iacute;timos
    S.A. <FONT STYLE="color: #222222">Mr. Marcus has not suffered, in the last five years, any (i) criminal conviction, (ii) in CVM administrative
    proceeding or (iii) unappealable, in the judicial or administrative sphere, which has suspended or disqualified her from practicing a
    professional activity or any commercial.</FONT></FONT></P></TD></TR>
  </TABLE>
<P STYLE="font: 11pt/115% Tahoma, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">12.6. In relation to each person who served
as a member of the board of directors or the fiscal committee in the last year, inform, in a table format, the percentage of participation
in the meetings held by the respective body in the same period, which took place after taking office</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 48%; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: #D9D9D9">
    <TD STYLE="font: bold 10pt/115% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center">Body</TD>
    <TD STYLE="font: bold 10pt/115% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center">Member</TD>
    <TD STYLE="font: bold 10pt/115% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center">Ownership Percentage</TD></TR>
  <TR STYLE="vertical-align: top; ">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="">Fiscal Council</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="">Attilio Guaspari</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="">100%</FONT></TD></TR>
  <TR STYLE="vertical-align: top; ">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="">Fiscal Council</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="">Valdecyr Maciel Gomes</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="">100%</FONT></TD></TR>
  <TR STYLE="vertical-align: top; ">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="">Fiscal Council</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="">Marcus Vinicius Dias Severini</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><FONT STYLE="">Alternate</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">12.7. Provide the information mentioned in
item 12.5 in relation to members of statutory committees, as well as audit, risk, financial and compensation committees, even if such
committees or structures are not statutory:</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">12.8. for each one of the people who acted
as a member of the statutory committees, as well as of the audit, risk, financial and compensation committees, even if such committees
or structures are not statutory, inform, in table format, the percentage of participation in meetings held by the respective body in the
same period, which occurred after taking office</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">12.9. Marital, common law or family relationship
up to the second degree between:</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0">The. Company Directors</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">B. Managers
of the Company and managers of Subsidiaries, directly or indirectly, of the Company</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: -35.45pt">c) managers
of the Company or its direct or indirect subsidiaries and direct or indirect controlling shareholders of the Company</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: -35.45pt">d) Company
managers and managers of the Company's direct and indirect subsidiaries</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: -35.45pt"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; "><FONT STYLE="">Not
applicable. Candidates for members of the Fiscal Council do not have any of the relationships mentioned in this Item 12.9.</FONT></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: -35.45pt"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">12.10. Report on subordination relationships,
service provision or control held, in the past 3 fiscal years, between the managers of the issuer and:</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">a.</TD><TD STYLE="text-align: justify">a) direct or indirect subsidiaries of the Company, with the exception of those in which the issuer holds,
directly or indirectly, the entire share capital</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">b.</TD><TD STYLE="text-align: justify">b. direct or indirect controlling company of the issuer</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">c.</TD><TD STYLE="text-align: justify">c. If relevant, supplier, client, debtor or creditor of the issuer, its subsidiary or subsidiaries or
controlling companies of any of these people</TD></TR></TABLE>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Not applicable. The Company does not have any
of the relationships mentioned in this Item 12.10.</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: bold 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt/125% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">BRF S.A.</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Attachment VI - Copy of the Company's Bylaws highlighting
the proposed changes, according with article 11, item I, of CVM Instruction No. 481/2009</P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 2.25pt 27.15pt"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/16pt Arial, Helvetica, Sans-Serif; margin: 0 0.6pt 8pt 0; text-align: center; text-indent: -0.5pt">BRF S.A.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: -0.5pt">Publicly-Held Company</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: -0.5pt">CNPJ 01.838.723/0001-27</P>

<P STYLE="font: 11pt/16pt Arial, Helvetica, Sans-Serif; margin: 0 0.3pt 8pt 0; text-align: center; text-indent: -0.5pt">NIRE 42.300.034.240</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 2.65pt; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">BYLAWS</TD><TD STYLE="text-align: center; padding-right: 0.55pt"></TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">I. NAME, HEADQUARTERS, TERM AND CORPORATE PURPOSE</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 1.</B> BRF SA
(&quot;<U>Company</U>&rdquo;) is a publicly-held company, which is governed by these Bylaws, by Law No. 6,404, of December 15, 1976, as
amended (&ldquo;<U>Corporation Law</U>&rdquo;) and other applicable laws and regulations.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 - With the entry
of the Company into the special listing segment called Novo Mercado, of B3 SA &ndash; Brasil, Bolsa, Balc&atilde;o (&quot;<U>B3</U>&rdquo;),
the Company, its shareholders, including controlling shareholders, managers and members of the Fiscal Council, when installed, are subject
to the provisions of the Regulation of the</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">B3's Novo Mercado (&quot;<U>Novo Mercado Regulation</U>&rdquo;).</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph Two - The provisions
of Level 2 Regulation shall prevail over the statutory provisions in the cases of damages to the rights of the recipients of the public
offers foreseen in these Bylaws.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 2. </B>The Company
has its headquarters and jurisdiction in the City of Itaja&iacute;, State of Santa Catarina, at Rua Jorge Tzachel, 475, Bairro Fazenda,
CEP 88.301-600, and may establish branches, agencies, offices and other facilities anywhere in the national territory or abroad .</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 3.</B> The main
corporate purpose of the Company is the exercise of the following activities, in national territory or abroad:</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify">the industrialization, commercialization, in retail and wholesale, and exploration of food in general,
mainly those derived from animal protein and food products that use the cold department as support and distribution;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">the industrialization and sale of animal feed, nutrients and food supplements;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD STYLE="text-align: justify">the provision of food services in general;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iv)</TD><TD STYLE="text-align: justify">the industrialization, refining and sale of vegetable oils, fats and dairy products;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(v)</TD><TD STYLE="text-align: justify">the exploration, conservation, storage, silage and sale of grains, their derivatives and by-products;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(vi)</TD><TD STYLE="text-align: justify">the sale, in retail and wholesale, of consumer and production goods, including the sale of equipment and
vehicles for the development of its logistics activity;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(vii)</TD><TD STYLE="text-align: justify">the export and import of production and consumer goods;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(viii)</TD><TD STYLE="text-align: justify">the provision of transport, logistics and distribution services for cargo and food in general;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(ix)</TD><TD STYLE="text-align: justify">participation in other companies, aiming at the broader achievement of corporate purposes;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(x)</TD><TD STYLE="text-align: justify">participation in projects necessary for the operation of the Company's business;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(xi)</TD><TD STYLE="text-align: justify">industrialization, own or on demand, sale, export and import of pharmacochemical products derived from
an animal slaughter;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(xii)</TD><TD STYLE="text-align: justify">manufacture and sale of organic chemical products derived from animal slaughter; and</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: black">(xiii)</FONT></TD><TD STYLE="text-align: justify">manufacture, distribution and export of pharmaceutical inputs derived from animal slaughter.</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Sole Paragraph - The Company may also carry out,
by itself or by hiring third parties, activities to support the core activities listed in Article 3 above, such as:</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify">auxiliary administrative, technical or operational support activities aimed at creating conditions for
the best exercise of its main activities;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">general cargo transportation;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD STYLE="text-align: justify">warehousing and storage services for products and other related services;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iv)</TD><TD STYLE="text-align: justify">activities for the promotion and replacement of its products in retail and at points of exhibition and
sale to the final consumer, including the necessary support to customers that allows the packaging and visualization of the products;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(v)</TD><TD STYLE="text-align: justify">services for receiving and allocating raw materials to be used in production;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(vi)</TD><TD STYLE="text-align: justify">repair, maintenance and conservation services for machines and vehicles;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(vii)</TD><TD STYLE="text-align: justify">the promotion of activities, programs, technical assistance and a promotion aimed at national agricultural
development;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(viii)</TD><TD STYLE="text-align: justify">the industrialization, farming, and commercialization of packaging of any nature;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(ix)</TD><TD STYLE="text-align: justify">the farming and breeding of animals in general;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(x)</TD><TD STYLE="text-align: justify">the trading of commodities in general;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(xi)</TD><TD STYLE="text-align: justify">research and development of production and improvement techniques for the Company's genetic matrices;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(xii)</TD><TD STYLE="text-align: justify">the activities of reforestation, extraction, industrialization and sale of wood;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(xiii)</TD><TD STYLE="text-align: justify">the commercialization of movable and immovable property, including machinery, equipment and vehicles,
of the fixed assets, to meet the activities included in the Company's corporate purpose described in this article; and</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(xiv)</TD><TD STYLE="text-align: justify">fuel supply services for own fleet or for third-party service providers, in particular freight, transport,
logistics and distribution <FONT STYLE="color: red">.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 4.</B> The Company's
term is not determined.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">II. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CAPITAL STOCK</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 5 </B>The Company's
capital stock is <FONT STYLE="color: red"><STRIKE>BRL 12,553,417,953.36 (twelve billion, five hundred and fifty-three million, four hundred
and seventeen thousand, nine hundred and fifty-three reais and thirty-six cents)</STRIKE> <U>BRL 13,053,417,953.36 (thirteen billion,
fifty-three million, four hundred and seventeen thousand, nine hundred and fifty-three reais and thirty-six cents)</U> ,</FONT> fully
subscribed and paid in, divided into <FONT STYLE="color: red"><STRIKE>812,473,246 (eight hundred and twelve million, four hundred and
seventy-three thousand, two hundred and forty-six)</STRIKE> <U>1,082,473,246 (one billion, eighty-two million, four hundred and seventy-three
thousand, two hundred and forty-six)</U></FONT> common shares, all registered and without par value.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 - The Company
may not issue preferred shares or founders' shares.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 2 - The shares
issued by the Company are indivisible and each common share is entitled to one vote in the resolutions of the General Meetings.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 6.</B> All shares
issued by the Company are book-entry and, as decided by the Board of Directors, kept in a deposit account with a financial institution
authorized by the Brazilian Securities and Exchange Commission &ndash; CVM (&ldquo;CVM&rdquo;), on behalf of their holders.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Sole Paragraph. The transfer
and registration cost, as well as the service cost related to book-entry shares, may be charged directly to the shareholder by the bookkeeping
institution, as defined in the share bookkeeping agreement.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 7.</B> The Company
is authorized to increase its capital stock, regardless of amendment to the bylaws, until the number of shares in which the share capital
is divided becomes 1,325,000,000 (one billion three hundred and twenty five million) common shares, upon resolution of the Board of Directors
..</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 - In the event
provided for in <I>caput</I> of this Article, it will be incumbent upon the Board of Directors to set the issue price and the number of
shares to be issued, as well as the payment term and conditions.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 2 - Within the
authorized capital limit, the Board of Directors may also: (i) resolve on the issuance of subscription bonus; (ii) in accordance with
the plan approved by the General Meeting, grant stock options, without the shareholders having preemptive rights in the granting of options
or subscription of the respective shares; (iii) to approve the capital increase through the capitalization of profits or reserves, with
or without share bonus; and (iv) resolve on the issuance of debentures convertible into shares.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 8.</B> At the
discretion of the Board of Directors or the General Meeting, the preemptive right of shareholders may be excluded or reduced, in any issue
of shares, debentures convertible into shares and subscription bonus, whose placement is made through sale on the stock exchange, public
subscription or exchange for shares in a public offer for the acquisition of control, as provided for in the Law and in these Bylaws.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 9.</B> The shareholder's
default in the payment of the subscribed capital will result in the collection of interest of 1% (one percent) per month, <I>pro rata
temporis</I> , monetary restatement based on the variation of the General Market Price Index &ndash; IGP-M, published by Funda&ccedil;&atilde;o
Get&uacute;lio Vargas &ndash; FGV, or another index that reflects the actual loss of currency purchasing power in the period, at the discretion
of the Board of Directors of the Company, at the lowest legally applicable frequency, and a fine of 10% (ten percent) on the amount of
the obligation, without prejudice to other applicable legal sanctions.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 10.</B> By resolution
of the Shareholders' Meeting, as a result of a proposal by the Board of Directors, the Company's capital stock may be increased as provided
for by law, provided that in cases of capitalization of profits or reserves, the issuance of new shares corresponding to the increase,
among its shareholders, in proportion to the number of shares they hold.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">III. GENERAL MEETING</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 11. </B>The General
Meeting, convened and installed pursuant to the law and these Bylaws, will meet ordinarily within the first 4 (four) months after the
end of the fiscal year and, extraordinarily, whenever interests and corporate matters require shareholder resolution</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 12. </B>The General
Meeting shall be called by the Board of Directors upon resolution of the majority of its members or, also, in the cases provided for in
these Bylaws and in the Sole Paragraph of Article 123 of the Brazilian Corporation Law.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Sole Paragraph - The Company
shall make available, at the latest by the date of the first publication of the call notice, to all shareholders, the materials and documents
necessary for the analysis of the matters included in the Agenda, except in the cases in which the law or current regulations require
its availability in a longer period.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 13.</B> The General
Meeting will be installed, on first call, with the presence of shareholders representing at least 25% (twenty-five percent) of the capital
stock, except when the law requires a higher quorum; and, on second call, with any number of shareholders.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 - The Extraordinary
General Meeting whose purpose is to amend these Bylaws shall be installed, on first call, with the presence of shareholders representing
at least 2/3 (two thirds) of the capital stock, but may be installed in second call with any number of attendees.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 2 - Subject to
the exceptions provided for in the applicable regulations, the first call of the General Meeting must be made at least 30 (thirty) days
in advance and the second call with at least 8 (eight) days.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 3 - The work of
the General Meeting will be chaired by the Chairman of the Board of Directors or, in their absence, by the Vice-Chairman. In cases of
absence or temporary impediment of the Chairman and Vice-Chairman of the Board of Directors, the General Meeting will be chaired by a
member specially appointed by the Chairman of the Board of Directors. The Chairman of the board will designate one or more secretaries
for the General Assembly.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 14.</B> The resolutions
at the General Meeting, except for the exceptions provided for by law and these Bylaws, will be taken by an absolute majority of votes
of those present, not counting blank votes.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 - The General
Meeting may only resolve on matters on the agenda contained in the respective call notice, except for the exceptions provided for in the
Brazilian Corporation Law, with the inclusion, in the agenda of the General Meeting, of the item &quot;other matters&quot; or &ldquo;general
affairs&rdquo; or equivalent expressions.</P>


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<P STYLE="font: 11pt/18pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 2 - Of the work
and resolutions of the General Meeting, minutes shall be drawn up, which shall be signed by the members of the presiding board and by
the attending shareholders who make up at least the majority necessary for the resolutions taken.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 15.</B> For the
benefit of carrying out the work at the General Meetings, the shareholders or their representatives must present, at least 5 (five) days
in advance, in addition to the identity document, as the case may be: (i) the power of attorney with the signature of the grantor and/or
the documents proving the powers of the shareholder's legal representative; and/or (ii) with respect to shareholders participating in
the fungible custody of book-entry shares, the statement containing the respective equity interest, issued by the financial institution
responsible for the custody.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 - Without prejudice
to the provisions of the caput of this Article, the shareholder who attends the General Meeting bearing the documents that prove his status
as shareholder may participate and vote in the meeting.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 2 &ndash; The Company
will adopt, in the inspection of the documental regularity of the shareholder representation, the principle of good faith.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 16.</B> It is
incumbent upon the General Meeting, in addition to the other duties provided for by law and in these Bylaws:</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18.35pt">(i)</TD><TD STYLE="text-align: justify">to attribute shares dividends and decide on any developments in shares;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18.35pt">(ii)</TD><TD STYLE="text-align: justify">approve stock option or subscription plans or stock granting plans for managers and employees or individuals
who provide services to the Company, as well as managers and employees or individuals who provide services to other companies that are
directly or indirectly controlled by the Company;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18.35pt">(iii)</TD><TD STYLE="text-align: justify">deliberate, according to the proposal presented by the management, on the destination of the year's results
and the distribution of dividends;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18.35pt">(iv)</TD><TD STYLE="text-align: justify">resolve on the Company's delisting from the Novo Mercado;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18.35pt">(v)</TD><TD STYLE="text-align: justify">to establish the remuneration of the Fiscal Council in accordance with the Law and these Bylaws; and</TD></TR></TABLE>


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<P STYLE="font: 11pt/18pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18.35pt">(vi)</TD><TD STYLE="text-align: justify">approve, pursuant to the Novo Mercado Regulation, the waiver of a Public Share Offering in case of delisting
from the Novo Mercado; and</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: red; font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18.35pt"><FONT STYLE="color: black">(vii)</FONT></TD><TD STYLE="text-align: justify"><U>approve the carrying out of operations and business with related parties or the sale or contribution
of assets, whenever, in any of these cases, the value of the operation or business corresponds to more than 50% (fifty percent) of the
value of the Company's total assets included in its last balance sheet approved at the General Meeting.</U></TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 17</B>. The General
Meeting shall annually set the amount of the annual global compensation of the Company's managers, including benefits of any nature and
representation fees, taking into account their responsibilities, the time dedicated to their functions, their competence and professional
reputation and the value of their services in the market, it being incumbent upon the Board of Directors to establish the criteria for
apportioning the global compensation among the administrators.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 18.</B> The General
Meeting may suspend the exercise of the rights of the shareholder who fails to comply with a legal or statutory obligation, the suspension
ceasing as soon as the obligation is fulfilled.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 - Shareholders
representing at least 5% (five percent), at least, of the capital stock, may call the General Meeting mentioned in <I>caput</I> of this
Article when the Board of Directors does not comply, within 8 (eight) days, with the convening request that they present, indicating the
obligation breached and the identification of the defaulting shareholder.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 2 - It shall be
incumbent upon the General Meeting that approves the suspension of shareholder rights to also establish, among other aspects, the scope
and term of the suspension, subject to the prohibitions provided for by law.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 3 - The suspension
of rights shall cease as soon as the obligation is fulfilled, and the shareholder in question shall notify the Company of said compliance.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">IV. MANAGEMENT</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: -0.5pt">Section I - Common Provisions to Management
Bodies</P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: -0.5pt">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 19</B>. The Company's
Management is the responsibility of the Board of Directors and the Executive Board, with the respective attributions conferred by law
and by these Bylaws.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 - The Company's
administrators are exempt from providing a guarantee for the exercise of their position.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 2 - The Company's
managers will be invested in their positions by signing the instrument of investiture in the proper books, which must include their subjection
to the arbitration clause referred to in Article 47, and which will include the consent to all manuals, codes, regulations and internal
policies of the Company.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 3 Any act practiced
by any manager of the Company that involves the Company in obligations related to businesses and operations alien to the corporate purpose
is expressly forbidden and will be null and void by operation of law, without prejudice to civil or criminal liability, as the case may
be, to which the violator of this provision will be subject.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 4 - The term of
office of the Company's managers will extend until the investiture of the respective successors.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: -0.5pt">Section II - Board of Directors</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 20. </B>The Board
of Directors is composed of a minimum of 9 (nine) and a maximum of 11 (eleven) effective members, all elected and dismissed by the General
Meeting, with a unified term of office of 2 (two) years, reelection being permitted.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 <B>-</B> Of the
members of the Board of Directors, at least 2 (two) or 20% (twenty percent), whichever is greater, must be Independent Directors, in accordance
with the criteria and rules provided for in the Novo Mercado Regulation.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Whenever the application
of the aforementioned percentage results in a fractioned number of members, the Company must consider the immediate higher number.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 3. The characterization
of those appointed to the Board of Directors as Independent Directors will be deliberated at the General Meeting that elects them, which
may base its decision: (i) on the statement, sent by the nominee to the Independent Director to the Board of Directors, attesting to their
eligibility in relation to the independence criteria established in the Novo
Mercado Regulation, contemplating the respective justification, if any of the situations provided for in Section 2 of article 16 of the
aforementioned Regulation are verified; and (ii) the opinion of the Board of Directors, included in the management proposal referring
to the General Meeting for the election of directors, as to the candidate's eligibility or not in the independence criteria.</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 4 - The procedure
provided for in paragraph 3 above does not apply to the nominations of candidates for members of the Board of Directors who do not meet
the deadline for inclusion of candidates in the ballot paper, as provided for in the regulations issued by CVM on remote voting .</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 5 - The Board of
Directors shall annually assess and disclose who the Independent Directors are, as well as indicate and justify any circumstances that
may compromise their independence.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 6 - When electing
the members of the Board of Directors, the General Meeting shall appoint a Chairman and a Vice-Chairman, who shall replace the former
in his absence or impediment, as well as in the event of a vacancy.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 7 - Whenever the
General Meeting is convened to resolve on the election of the Board of Directors, the members of such body shall approve a proposal for
a complete slate of candidates for the vacancies on the Board of Directors, including nomination for the positions of Chairman and Vice-Chairman
of the Board of Directors, which must be submitted for approval at the General Meeting.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 8 - If any shareholder
wishes to nominate one or more candidates to compose the Board of Directors who are not part of the proposed slate as provided for in
Paragraph 7 of this article, such shareholder shall notify the Company proposing another slate to run for positions on the Board of Management
of the Company, in writing and preferably at least 5 (five) days prior to the date scheduled for the General Meeting, informing the name,
qualification and full professional curriculum of the candidate(s), the Company is responsible for providing for its immediate disclosure,
through a Notice to Shareholders available on the electronic system on the CVM page on the world wide web. The Company will not accept
the registration of any slate, nor the exercise of voting rights in the election of the members of the Board of Directors, in circumstances
that constitute a violation of the provisions of the applicable regulations.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 9 - The presentation
of more than one slate by the same shareholder is prohibited. However, the same person may integrate two or more slates, including the
one proposed under the terms of Paragraph 8 above.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 10 - If it receives
a written request for the adoption of the multiple vote process, pursuant to Article 141, Paragraph 1 of the Brazilian Corporation Law,
the Company will immediately disclose the receipt and content of such request, by means of a Notice to Shareholders available in the electronic
system on the CVM page on the world wide web or as defined by law or by CVM.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 11 - In the event
that the election of the Board of Directors is carried out by the multiple vote process, each member of the slates presented pursuant
to this Article shall be considered a candidate for the position of director.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 12- Whenever the
election has been carried out by the multiple vote process, the removal of any member of the Board of Directors by the General Assembly
shall mean dismissal of the other members, and a new election shall be held.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 13 In the event
of vacancy of the positions of effective members of the Board of Directors, the remaining members will appoint a substitute who will hold
the position until the next General Meeting, at which time the new Board member will elect a new Director to complete the term. In the
case of more parallel vacancies exceeding one-third (1/3) of its members, a General Meeting shall be called within 30 (thirty) days of
that event, for the election of the substitutes, whose term shall coincide with that of the other Directors.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 14 &ndash; The
members of the Board of Directors must have an unblemished reputation and, except as approved by the General Meeting, those who (i) occupy
positions in companies that may be considered competitors of the Company cannot be elected; or (ii) have or represent a conflicting interest
with the Company. If after the election of the member of the Board of Directors, any fact that constitutes a hypothesis of impediment
to the exercise of the position of director, provided for in the Brazilian Corporation Law or in this paragraph, the member who is subject
to the impediment is obliged to immediately present his resignation to the Chairman of the Board of Directors</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: -0.5pt">Subsection II.1 - Meetings and Substitutions</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 21.</B> The Board
of Directors will meet, ordinarily, at least 8 (eight) times a year and, extraordinarily, whenever called by its President or by the majority
of its members.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 - The notice
of meetings of the Board of Directors shall be given in writing, by means of a letter, telegram, e-mail or other form that allows proof
of receipt of the notice by the recipient, and shall contain, in addition to the location , date and time of the meeting, the agenda.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 2 - The meetings
of the Board of Directors shall be called at least 5 (five) business days in advance. On the same date the meeting is called, the materials
and documents necessary for the consideration of the matters on the agenda of the Board of Directors' meeting shall be made available
to the directors.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 3 - Regardless
of the formalities should be deemed regular meeting attended by all members of the Board.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 4 - The meetings
of the Board of Directors shall be installed, on first call, with the presence of at least 2/3 (two thirds) of its members. In the second
call, which will be the subject of a new communication to the directors in the form of Paragraph 1 of this Article, sent immediately after
the date designated for the first call, the meeting will be installed with the presence of the simple majority of the directors.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 5- If necessary,
it is possible to hold meetings of the Board of Directors or the participation of board members in meetings of the Board of Directors
by telephone, video conference, electronic deliberation, or other means of communication that can ensure the effective participation and
authenticity of their vote. In this circumstance, the board member shall be considered present at the meeting, and his vote shall be considered
valid for all legal purposes and incorporated into the minutes of said meeting.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 6 - No member of
the Board of Directors may have access to information, participate in deliberations and discussions of the Board of Directors or any other
management bodies, exercise the vote or, in any way, intervene in matters in which they are, directly or indirectly , in a situation of
conflicting interest with the interests of the Company, under the terms of the Law.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 7 - The resolutions
of the Board of Directors shall be taken by majority vote of those present, with the Chairman of the Board of Directors having the casting
vote in the event of a tie.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 8 - The minutes
of the meetings of the Board of Directors must be clearly written and record the decisions taken, the persons present, the dissenting
votes and the abstentions from voting.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 22.</B> In the
event of absence or temporary impediment, the Directors may be represented at meetings of the Board of Directors by another Board member
appointed in writing, who, in addition to their own vote, shall express the absentee or temporarily impeded Board member's vote.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1- In the event
of absence or temporary impediment of the Chairman of the Board, his duties shall be exercised on a temporary basis by the Vice-Chairman.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 2- In case of absence
or temporary impediment of the Vice-Chairman, it shall be incumbent upon the Chairman to indicate, among the other members of the Board
of Directors, his / her substitute.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: -0.5pt">Subsection II.2. Competence</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 23</B>. It is
incumbent upon the Board of Directors, in addition to the other duties provided for in the legislation and in these Bylaws:</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(i)</TD><TD STYLE="text-align: justify">establish the general orientation of the Company's business, considering the impacts of the Company's
activities on society and the environment, aiming at the Company's perpetuity and the creation of value in the long term;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(ii)</TD><TD STYLE="text-align: justify">define the Company's values and ethical principles and ensure that the Company remains transparent in
its relationship with all interested parties;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(iii)</TD><TD STYLE="text-align: justify">elect and dismiss the members of the Executive Board of the Company or its directly and indirectly controlled
companies, and establish their attributions, subject to the provisions of these Bylaws;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(iv)</TD><TD STYLE="text-align: justify">inspect the management of the members of the Executive Board, examine at any time the Company's books
and papers, request information about contracts signed or about to be signed, and any other acts;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(v)</TD><TD STYLE="text-align: justify">call the General Meeting when deemed convenient and in the cases provided for by Law;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(vi)</TD><TD STYLE="text-align: justify">to express its opinion on the Management's report, the accounts of the Executive Board and the financial
statements related to each fiscal year;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(vii)</TD><TD STYLE="text-align: justify">distribute among the members of the Board of Directors and the Executive Board the annual global compensation
established by the General Meeting and establish the criteria for profit sharing for employees and managers, in compliance with the provisions
of these Bylaws;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(viii)</TD><TD STYLE="text-align: justify">authorize the incorporation and dissolution of companies controlled, directly or indirectly, by the Company;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(ix)</TD><TD STYLE="text-align: justify">choosing and removing the independent auditors appointed by the Audit and Integrity Committee;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(x)</TD><TD STYLE="text-align: justify">propose to the General Meeting the issuance of new shares of the Company above the authorized capital
limit;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xi)</TD><TD STYLE="text-align: justify">except in the cases in which the General Meeting is competent, pursuant to the regulations issued by CVM,
to resolve on (a) the acquisition of shares issued by the Company to be held in treasury or used in plans approved by the General Meeting;
and (b) the eventual sale or cancellation of such shares;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xii)</TD><TD STYLE="text-align: justify">resolve on the issuance by the Company or its subsidiaries, directly and indirectly, of non-convertible
debentures, promissory notes ( <I>commercial paper</I> ) and other similar securities;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xiii)</TD><TD STYLE="text-align: justify">resolve on the issue by the Company of shares, subscription bonus and debentures convertible into shares,
within the authorized capital limit, establishing the quantity, payment conditions and the respective subscription and premium prices,
as well as whether the right to preference to shareholders or shortening the period for exercising
them, as authorized by the legislation in force;</TD></TR></TABLE>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 38.1pt; text-align: justify"></P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xiv)</TD><TD STYLE="text-align: justify">resolve on the drawing up of semi-annual balance sheets or those relating to shorter periods of the Company,
as well as declare interim dividends to the account of profits calculated in these balance sheets, or to the Retained Earnings Account
or Profit Reserve Account existing in the last annual or semi-annual balance sheet, as provided for by law and/or the distribution of
interest on capital, as provided for in Law No. 9.249, of December 26, 1995, as amended;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xv)</TD><TD STYLE="text-align: justify">approve the Company's dividend payment policy;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xvi)</TD><TD STYLE="text-align: justify">propose to the Annual General Meeting, subject to the limits established in Article 35, sole paragraph,
of these Bylaws, the amounts to be paid as statutory participation of employees and managers in the profits of each fiscal year, as well
as define the criteria for the distribution of such values;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xvii)</TD><TD STYLE="text-align: justify">authorize the practice of reasonable gratuitous acts by the Company, for the benefit of any person or
entity, as defined in the Company's Policy of Authority, to be approved by the Board of Directors;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xviii)</TD><TD STYLE="text-align: justify">submit a proposal for approval at the Meeting of a stock option plan or stock grant plan to its managers
or employees, or to individuals who provide services to the Company, as well as to managers and employees or individuals who provide services
to its direct and indirect subsidiaries, within the authorized capital limit, the Board of Directors being responsible for administering
said plan, including the granting of stock options and grants within the scope of such plans;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 42.55pt">(xix)</TD><TD STYLE="text-align: justify">to authorize changes in the tradability and issuance of American Depositary Receipts &ndash; ADRs by the
Company or its subsidiaries, directly and indirectly;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xx)</TD><TD STYLE="text-align: justify">approve its bylaws, which shall provide, at least, on the following matters: (i) the duties of the Chairman
of the Board of Directors; (ii) the rules for replacing the Chairman of the Board of Directors in his absence or vacancy; (iii) the measures
to be taken in situations of conflict of interest; (iv) the definition of a period of sufficient notice to receive the materials for discussion
at the meetings, with adequate depth; and
(v) the possibility of holding it, during the meetings of the</TD></TR></TABLE>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 38.1pt; text-align: justify"></P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xxi)</TD><TD STYLE="text-align: justify">establish technical or advisory committees, of a non-deliberative nature, to carry out specific tasks
or for general activities of interest to the Company, under the terms and conditions defined by the Board of Directors. The committees
may act, among others, in the following areas: (i) strategic and financial, (ii) corporate governance, conduct and ethics, and (iii) management
compensation and executive development;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xxii)</TD><TD STYLE="text-align: justify">monitor the fulfillment of the duties of the committees that may be created to advise the Board of Directors,
approve their respective regulations and evaluate the opinions and reports issued by them, pursuant to current legislation and these Bylaws;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xxiii)</TD><TD STYLE="text-align: justify">establish periodic performance evaluation mechanisms of its members, with the objective of contributing
to the improvement and effectiveness of the Company's governance, being able to hire external specialists for the evaluation process;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xxiv)</TD><TD STYLE="text-align: justify">prepare and make public a reasoned opinion containing an opinion favorable or contrary to the acceptance
of any and all corporate reorganization, capital increase and other operations that give rise to the change of control, within 15 (fifteen)
days of the disclosure of all conditions of the operation that results in the change of control, which will express whether such operation
ensures fair and equitable treatment to the Company's shareholders;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xxv)</TD><TD STYLE="text-align: justify">prepare and make public a prior substantiated opinion containing an opinion favorable or contrary to the
acceptance of any and all public offer for acquisition that has as its object shares or securities convertible or exchangeable for shares
issued by the Company, within 15 (fifteen) days of publication of the public offer for the acquisition of shares, or securities convertible
into shares or exchangeable for shares issued by the Company, in which: (a) the convenience and opportunity of the public offer for the
acquisition of shares, or convertible securities in shares or exchangeable per share issued by the Company, as to the interests of the
Company and its shareholders as a whole and in relation to the price and potential impacts for the company. <STRIKE>The</STRIKE> liquidity
of the securities held by it; (b) regarding the strategic plans disclosed by the offeror in relation to the Company; and (c) possible alternatives
to the acceptance of the public offer for the acquisition of shares, or securities convertible into shares or exchangeable per share issued
by the Company, available in the market;</TD></TR></TABLE>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 38.1pt; text-align: justify"></P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 38.1pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xxvi)</TD><TD STYLE="text-align: justify">submit to the General Meeting proposals for amendments to the Company's Bylaws, regarding the duration
of the Company, corporate purpose, capital increases or reductions, issuance of securities and/or securities, exclusion of preemptive
rights in the subscription of shares and other bonds and/or securities, dividends, capital interest, powers and attributions of the General
Meeting, structure and attributions of the Board of Directors and the Executive Board, and respective quorums for resolutions;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xxvii)</TD><TD STYLE="text-align: justify">approve the Company's annual demobilization plan proposed by the Executive Board, as well as the acquisition,
assignment, transfer, disposal and/or encumbrance of real estate of the Company or of direct or indirect subsidiaries, which are not listed
in the Plan of Demobilization already approved, as defined in the Company's Policy of Permits, to be approved by the Board of Directors;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xxviii)</TD><TD STYLE="text-align: justify">to approve a proposal for a spin-off, merger, incorporation in which the Company or controlled and associated
companies, directly or indirectly, are part or of the Company itself, as well as its transformation or any other form of corporate restructuring;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xxix)</TD><TD STYLE="text-align: justify">resolve on the liquidation, dissolution, appointment of liquidators, bankruptcy or voluntary acts of judicial
or extrajudicial reorganization of the Company or of direct and indirect subsidiaries and affiliates, as well as related financial reorganizations;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xxx)</TD><TD STYLE="text-align: justify">approve the acquisition, assignment, transfer, disposal and/or encumbrance of non-current assets (except
real estate) of the Company or of directly or indirectly controlled or affiliated companies, as defined in the Company's Policy of Authorities,
to be approved by the Board administration;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xxxi)</TD><TD STYLE="text-align: justify">authorize the granting of guarantees, real or personal guarantees, commercial pledge, mortgages, sureties
and sureties, as well as the contracting of surety bonds or letters of guarantee as defined in the Company's Policy of Authorities, to
be approved by the Board of Directors;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xxxii)</TD><TD STYLE="text-align: justify">authorize the Executive Board to offer products and movable and fixed assets of the Company or of controlled
or affiliated companies, directly or indirectly, as a guarantee to financial institutions when contracting financing or as a guarantee
of legal proceedings, whenever such acts result in obligations for the Company or for subsidiaries or affiliates, directly or indirectly,
as defined in the Company's Authorization Policy, to be approved by the Board of Directors;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xxxiii)</TD><TD STYLE="text-align: justify">approving the contracting, with third parties, of indebtedness operations of the Company or of controlled
or affiliated companies, directly or indirectly, as defined in the Company's Authorization Policy, to be approved by the Board of Directors;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xxxiv)</TD><TD STYLE="text-align: justify">approving the Company's financial risk management policy, establishing the main conditions for contracting
hedging operations (assets and liabilities), and such policy must contain, at least, the following specifications: purpose of the hedge,
risk factors risks, eligible instruments, limits and authority;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xxxv)</TD><TD STYLE="text-align: justify">approve the issue, acquisition, assignment, transfer, disposal and/or encumbrance, in any capacity or
form by the Company or by controlled or affiliated companies, directly or indirectly, of equity interests and/or any securities in any
companies (including waiver of right to subscribe for shares or debentures convertible into shares of subsidiaries, controlled companies
or affiliates), as defined in the Company's Authorization Policy, to be approved by the Board of Directors;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">(xxxvi)</TD><TD STYLE="text-align: justify">approve and define, in advance, the acts to be performed by the Executive Board of the Company at General
Meetings and/or Meetings of Partners of controlled, affiliated or invested companies, directly or indirectly, in the capacity of shareholder
and/or partner of such companies, as defined in the Company's Authorization Policy, to be approved by the Board of Directors or involving
reputational and strategic aspects for the Company;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xxxvii)</TD><TD STYLE="text-align: justify"><FONT STYLE="color: red">observing the provisions of article 16, item (vii) of these Bylaws,</FONT> to
approve the performance of operations and business of any nature with related parties, in accordance with the provisions of the Policy
on Transactions with Related Parties and Other Situations of Conflict of Interest of the Company, as approved by the Board of Directors;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xxxviii)</TD><TD STYLE="text-align: justify">approve (i) the Code of Conduct; (ii) the Securities Trading Policy, and (iii) the Contributions and Donations
Policy, which must comply with the minimum requirements established by the Novo Mercado Regulation and the Brazilian Code of Corporate
Governance;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xxxix)</TD><TD STYLE="text-align: justify">approving the integrated general annual and multi-year capital budgets (operation budgets, investment
budgets and cash flow budgets) of the Company and its subsidiaries and affiliates, setting the investment policy and business strategy.
The integrated general annual budget must always be approved by the last day of the year preceding the calendar year to which it refers
and must cover the twelve months of the following fiscal year. At any time during the calendar year, the Company's budget must cover a
minimum period of 6 (six) months. The execution and execution of the approved budget will be reviewed monthly at the regular meetings
of the Board of Directors;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xl)</TD><TD STYLE="text-align: justify">(xl) approve the execution of any contracts or agreements (except indebtedness contracting) involving
the normal course of activities of the Company or of controlled companies, directly or indirectly, including, but not limited to, contracts
for the provision of services, consulting or supply, as defined in the Company's Authorization Policy, to be approved by the Board of
Directors, as well as to approve the termination of the contract or the execution of additional terms to the contracts already signed
that entail a new obligation of equal value;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 38.1pt">(xli)</TD><TD STYLE="text-align: justify">(xli) approve the execution, amendment, termination, renewal or cancellation of any contracts, agreements
or similar involving patents, production processes and/or technology, copyrights, domain names, registered or deposited trademarks in
the name of the Company or any company controlled or affiliated by it, directly or indirectly, as defined in the Company's Authorization
Policy, to be approved by the Board of Directors, except: (a) if carried out between the Company and fully controlled companies, except
in cases of sale and /or definitive assignment, which must be approved by the Board of Directors; and (b) for authorization of the use
of trademarks by controlled or affiliated companies.</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"></P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: -0.5pt">Section III - Executive Board</P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: -0.5pt">&nbsp;</P>
<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 24.</B> The Executive
Board, whose members are elected and removable at any time by the Board of Directors, will consist of at least two (2) and at most fifteen
(15) members, elected for a period of two (2) years, re-election being permitted, of which one (1) Global Chief Executive Officer and
one (1) Chief Financial and Investor Relations Officer, and the other Executive Vice-Presidents with designation and functions to be proposed
to the Board of Directors by the Global Chief Executive Officer, pursuant to Article 26 below, all of them being professionals that meet
the parameters indicated in Paragraphs 2 and 34 below.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 <B>-</B> The
positions of Chairman of the Board of Directors and Global Chief Executive Officer cannot be held by the same person <FONT STYLE="color: red"><STRIKE>except
as provided in Paragraph 2 below</STRIKE></FONT> .</P>

<P STYLE="color: red; font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><STRIKE>Paragraph
2 - The rule contained in Paragraph 1 of this Article does not apply to the event of vacancy in the position of Global Chief Executive
Officer, in which case the Company shall: (i) disclose the accumulation of positions as a result of the vacancy until the day useful following
the occurrence; (ii) disclose, within a period of 60 (sixty) days, counting from the vacancy, the measures taken to cease the accumulation
of positions; and (iii) cease accumulation within 1 (one) year.</STRIKE></P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 23 - The election
of the Executive Board shall be carried out by the Board of Directors, which may choose from among the candidates pre-selected by the
Global Chief Executive Officer. To this end, the Global Chief Executive Officer will send to the Board of Directors a copy of the &quot;curriculum
vitae&quot; of the nominated candidate, together with the terms of their hiring and all other information necessary to prove the qualification
established in Paragraph <FONT STYLE="color: red"><U>3</U> <STRIKE>4</STRIKE></FONT> of this Article. If the Board of Directors does not
approve the nominations presented, new names must be appointed by the Global Chief Executive Officer, until they are approved by the Board
of Directors.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">Paragraph 34 - The Board of Executive Officers shall be formed exclusively
by professionals who have proven academic and practical training, acquired in courses and in the exercise of activities compatible with
the duties for which they are being nominated.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: -0.5pt">Subsection III1 - Competence</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 25</B> The Executive
Board is responsible for:</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.6pt">(i)</TD><TD STYLE="text-align: justify">authorize the opening, closing or change of address of branches, agencies, warehouses, offices or any
other establishments of the Company, in Brazil or abroad;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.6pt">(ii)</TD><TD STYLE="text-align: justify">submit annually to the Board of Directors the Management Report and the accounts of the Board of Executive
Officers, accompanied by the report of the independent auditors, as well as the proposal for the allocation of the profits established
in the previous year;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.6pt">(iii)</TD><TD STYLE="text-align: justify">prepare and propose, to the Board of Directors, annual and multi-year budgets, strategic plans, expansion
projects and investment programs;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.6pt">(iv)</TD><TD STYLE="text-align: justify">approving corporate rules that regulate the other levels of approval and responsibilities for the management
acts required to conduct the Company's activities, defining the limits of competence for the various decision-making processes, according
to the Company's hierarchical levels and always observing the rules established in the Authorization Policy approved by the Board of Directors;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.6pt">(v)</TD><TD STYLE="text-align: justify">to decide, at the request of the Global Chief Executive Officer, on any matter that does not fall within
the exclusive competence of the General Meeting or the Board of Directors;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 23.6pt; text-align: justify; text-indent: -23.6pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.6pt">(vi)</TD><TD STYLE="text-align: justify"><FONT STYLE="color: red">observing the provisions of article 16, item (vii) of these Bylaws,</FONT> to
approve the performance of certain operations and businesses with Related Parties, in accordance with the provisions of the Policy on
Transactions with Related Parties and Other Situations of Conflict of Interest of the Company;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 23.6pt">(vii)</TD><TD STYLE="text-align: justify">prepare the draft, for subsequent submission to the resolution of the Board of Directors (i) of the Code
of Conduct; (ii) the Risk Management Policy, (iii) the Securities Trading Policy, (iv) the Transactions between Related Parties Policy,
and (v) the Contributions and Donations Policy, which must comply with the established minimum requirements by the Novo Mercado Regulation
and by the Brazilian Code of Corporate Governance.</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 26.</B> In addition
to other attributions established in these Bylaws, it is incumbent, for example:</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">GLOBAL PRESIDENT DIRECTOR</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 12.35pt">a.</TD><TD STYLE="text-align: justify">convene and preside over the meetings of the Executive Board;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 12.35pt">b.</TD><TD STYLE="text-align: justify">represent the Executive Board at meetings of the Board of Directors;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 12.35pt">c.</TD><TD STYLE="text-align: justify">submitting the Executive Board's proposals for annual and multi-year budgets, strategic plans, expansion
projects and the Company's investment programs to the Board of Directors for resolution;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 12.35pt">d.</TD><TD STYLE="text-align: justify">supervise and guide the conduct of financial, social and sustainability businesses and the activities
of the other Directors;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 12.35pt">e.</TD><TD STYLE="text-align: justify">present to the Board of Directors the financial statements, annual and multi-year budgets, and investments,
financial planning and cash flow; and</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 12.35pt">f.</TD><TD STYLE="text-align: justify">propose to the Board of Directors the positions of Directors, with or without specific designation, and
the respective holders for the performance of specific functions it deems necessary.</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Chief Financial and Investor
Relations Officer</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5pt">a.</TD><TD STYLE="text-align: justify">prepare, together with the other members of the Executive Board and under the coordination of the Global
Chief Executive Officer, the budgets to be submitted for approval by the Board of Directors and be responsible for controlling the execution
of these budgets, especially with regard to the control of cash flow;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5pt">b.</TD><TD STYLE="text-align: justify">guide the execution of the economic-financial policy, supervising the economic-financial activities, in
accordance with the determinations of the Board of Directors; and</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5pt">c.</TD><TD STYLE="text-align: justify">organize and coordinate the information system necessary for its performance, as well as oversee all the
Company's controllership activities.</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5pt">d.</TD><TD STYLE="text-align: justify">represent the Company before the CVM and other entities of the capital market and financial institutions,
as well as regulatory bodies and stock exchanges, national and foreign, in which the Company has listed securities, in addition to enforcing
the regulatory standards applicable to the Company in the regarding the records kept with the CVM and with the regulatory bodies
and stock exchanges in which the Company has listed securities and managing the investor relations policy; and</TD></TR></TABLE>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5pt; text-align: justify"></P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5pt">e.</TD><TD STYLE="text-align: justify">monitor the compliance, by the Company's shareholders, with the obligations set forth in Chapter VIII
of these Bylaws and report to the General Meeting and/or the Board of Directors, when requested, its conclusions, reports and steps.</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">To the other Vice Presidents,
whose designation will be given by the Board of Directors at the suggestion of the Global CEO:</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5pt">a.</TD><TD STYLE="text-align: justify">guide, coordinate and supervise the specific activities under its responsibility; and</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5pt">b.</TD><TD STYLE="text-align: justify">perform specific duties assigned to them by decision of the Global Chief Executive Officer.</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: -0.5pt">Subsection III - Company Representation</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 27.</B> The Executive
Board, within the limits established by Law and by these Bylaws, is vested with general management powers, which enable the practice of
all acts necessary for the regular operation of the Company, with a view to achieving its corporate objectives.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 28. </B>The active
and passive representation of the Company, in or out of court, as well as the practice of all legal acts, will be responsible for:</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.7pt">(i)</TD><TD STYLE="text-align: justify">any 2 (two) members of the Executive Board together;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.7pt">(ii)</TD><TD STYLE="text-align: justify">any member of the Executive Board, together with an attorney with specific powers; or</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.7pt">(iii)</TD><TD STYLE="text-align: justify">two attorneys with specific powers, always acting together.</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 - The Company
may be represented by only one Director or one attorney-in-fact with specific powers to perform the following acts:</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 15.3pt">(i)</TD><TD STYLE="text-align: justify">representation of the Company in Assemblies and meetings of partners of companies in which it participates;</TD></TR></TABLE>


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<P STYLE="font: 11pt/18pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 15.3pt">(ii)</TD><TD STYLE="text-align: justify">representation of the Company in court; or</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 15.3pt">(iii)</TD><TD STYLE="text-align: justify">practice of acts of simple administrative routine, including before public bodies, mixed capital companies,
commercial boards, Labor Courts, INSS, FGTS and their collecting banks, and others of the same nature.</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 2 - The acts for
which these Bylaws require prior authorization from the Board of Directors will only be valid once this requirement is fulfilled.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 3 - The Executive
Board may, through two of its members and through competent instruments, appoint agents with specific powers to act on behalf of the Company,
with a mandate for a determined period to be established on a case-by-case basis, except for court orders that may be granted for an indefinite
period. In any case, the limitations and restrictions mentioned in this Article and those established by the Board of Directors must be
respected.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: -0.5pt">Subsection III3 - Board Meetings</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 29. </B>The Executive
Board will hold meetings whenever necessary, drawing up minutes of these meetings in the proper book.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 - The resolutions
of the Executive Board shall be taken by majority vote, with the Global Chief Executive Officer, or his substitute, having the casting
vote.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 2 - The minimum
quorum for the installation of the meetings of the Executive Board is 2/3 (two thirds) of its members.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">If necessary, it is allowed
to hold meetings or the participation of the members of the Executive Board, in the meetings of said body, by telephone, videoconference,
electronic deliberation, or other means of communication that can ensure the effective participation and authenticity of your vote. In
these cases, the member of the Executive Board will be considered present at the meeting, and his vote will be considered valid for all
legal purposes and incorporated into the minutes of that meeting.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 4 - In the event
of absences or temporary impediments, the members of the Executive Board will substitute each other, as indicated by the Global Chief
Executive Officer. In the event of a vacancy, the Board of Directors, within thirty (30) days, (i) will designate who will (a) fill the vacancy, whose
term of office will coincide with that of the other members of the Executive Board or (b) accumulate the respective function or (ii) decide
not to fill, temporarily or permanently, the position left vacant, provided that this position is not that of Global Chief Executive Officer,
Chief Financial Officer or Investor Relations Officer.</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: -0.5pt">Fiscal Council</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 30. </B>The Company
will have a permanent Audit Committee, composed of 3 (three) effective members and an equal number of alternates, elected by the General
Meeting, who will hold their positions until the first Annual General Meeting held after their election, their reelection being permitted,
with the attributions, competence and remuneration provided for by Law.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 - The election
of the members of the Audit Committee shall be carried out by means of a majority decision, with the 3 (three) candidates, and their respective
alternates being elected, who receive the highest number of votes at the General Meeting, subject to the provisions of article 161 of
the Law of Corporations. If there is a Controlling Shareholder, minority shareholders are guaranteed, provided that they jointly represent
10% (ten percent) or more of the shares issued by the Company, the right to elect, in a separate vote, 1 (one) member and respective alternate
member of the Company's Audit Committee.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 2 <B>-</B> The
members of the Fiscal Council will be invested in their positions by signing the instrument of investiture in the proper book, which will
contain their consent to all manuals, codes, regulations and internal policies of the Company, and their subjection to the arbitration
clause referred to in Article 47 .</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 3 - The Audit Committee
shall meet periodically, pursuant to its Internal Regulations, with minutes of these meetings being drawn up in the proper book.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 4 - The Supervisory
Board will elect its Chairman at the first meeting after its election and will operate in accordance with the Internal Regulations approved
by the Supervisory Board itself <B>.</B></P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 31. </B>For the
full exercise of functions on the Audit Committee, the requirements provided for in the applicable legislation, the provisions of these
Bylaws and the Internal Regulations of the Audit Committee must be observed.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 - The same obligations
and prohibitions imposed by Law and by these Bylaws on the Company's managers shall apply to the members of the Audit Committee.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 2 - In the event
of the absence or vacancy of the position of effective member of the Audit Committee, the respective alternate will take his place. In
the event of a vacancy in the position of effective member and of its respective alternate, the General Meeting will be called to elect
a member for the position.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 3 - Subject to
the requirements and obligations contained in these Bylaws, as well as in other applicable legal provisions, the members of the Company's
Fiscal Council may be elected by the Board of Directors to also integrate the Audit and Integrity Committee.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: -0.5pt">AUDIT AND INTEGRITY COMMITTEE</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 32. </B>The Company
will have an Audit and Integrity Committee in permanent operation, composed of at least 3 (three) and at most 5 (five) members, with the
majority of its members being independent members and at least 1 (one ) of its members not belonging to the Board of Directors, subject
to the requirements established in the applicable regulations, especially in CVM Instruction 509/11. At least one of the independent members
of the Board of Directors must be appointed to also be part of the Audit and Integrity Committee. None of the members of the Audit and
Integrity Committee may belong to the Executive Board.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 33. </B>The members
of the Audit Committee shall be appointed by the Board of Directors for terms of 2 (two) years and shall hold office for a maximum of
10 (ten) years, and may be dismissed at any time. In the case of a Committee Member who is also a member of the Board, the term of office
shall end concurrently with the term of office of Director.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 - The performance
of the activities of the members of the Audit and Integrity Committee shall comply with the rules provided for in Brazilian legislation,
especially in CVM Instruction 509/11, and in the US, including the provisions of the Sarbanes-Oxley Act and the rules issued by Securities
and Exchange Commission - SEC.</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 2- At least one
of the members of the Audit Committee must have proven knowledge in the areas of corporate, audit and financial accounting that characterizes
him as a financial specialist.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 3 <B>-</B> The
Audit and Integrity Committee will have the following attributions: 1) give its opinion on the hiring and dismissal of the independent
external auditor to carry out an independent external audit or for any other service; 2) supervise the activities: (a) of the independent
auditors, in order to assess their independence, the quality and adequacy of the services provided to the Company's needs; (b) the Company's
internal controls area; (c) the Company's internal audit area; and (d) the area of preparation of the Company's financial statements;
3) monitor the quality and integrity of: (a) internal control mechanisms; (b) the Company's quarterly information, interim statements
and financial statements; and (c) information and measurements disclosed based on adjusted accounting data and non-accounting data that
add elements not provided for in the structure of the usual reports of financial statements; 4) evaluate and monitor the Company's risk
exposures, and may even require detailed information on policies and procedures related to: (a) management compensation; (b) the use of
the Company's assets; and (c) expenses incurred on behalf of the Company; 5) evaluate and monitor, together with management and the internal
audit area, the adequacy of transactions with related parties carried out by the Company and their respective disclosures; 6) evaluate,
monitor and recommend to management the correction or improvement of the Company's internal policies, including the Related Party Transactions
Policy; 7) evaluate integrity practices ( <I>compliance)</I> of the Company and propose improvements; 8) evaluate and discuss the independent
external auditor's annual work plan and forward it to the Board of Directors for consideration; and <STRIKE>6</STRIKE> 9) prepare a summary
annual report, to be presented together with the financial statements, containing a description of: (a) its activities, the results and
conclusions reached and the recommendations made; and (b) any situations in which there is significant divergence between the Company's
management, the independent external auditors and the Audit and Integrity Committee, in relation to the Company's financial statements.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 4 - The Audit and
Integrity Committee will be an advisory body directly linked to the Board of Directors.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 5 - Upon the election
of the members of the Audit and Integrity Committee, the Board of Directors will designate the one who will exercise the function of Coordinator
of the body.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 6 - The Audit and
Integrity Committee will meet at least every 2 (two) months, and whenever necessary, so that the Company's accounting information is always
appreciated by it before its disclosure.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 7 - The internal
regulations of the Audit and Integrity Committee will be approved by the Board of Directors and will describe in detail its functions,
as well as its operating procedures.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 8 <B>-</B> The
Audit and Integrity Committee must have the means to receive, retain and respond to complaints, including confidential, internal and external
to the Company, in relation to non-compliance with legal and regulatory provisions applicable to the Company (including accounting, internal
controls and auditing matters) <STRIKE>)</STRIKE> , in addition to internal regulations and codes, including the provision of specific
procedures to protect the provider and the confidentiality of information.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 9 - The Board of
Directors will define the compensation of the members of the Audit and Integrity Committee. The Audit and Integrity Committee shall have
operational autonomy and budget allocation, annually or by project, to conduct or determine the carrying out of consultations, evaluations
and investigations within the scope of its activities, including the hiring and use of independent external experts, remunerate such specialists
and pay the ordinary administrative expenses of the Audit and Integrity Committee.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 10 - The meetings
of the Audit and Integrity Committee must be recorded in minutes, and the decisions/recommendations must be taken with a favorable vote
of 2/3 of its members.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">Paragraph 11 - The coordinator of the Audit and Integrity Committee,
accompanied by other members when necessary or convenient, shall: (i) meet with the Board of Directors and the Fiscal Council; and (ii)
attend the Annual General Meeting and, when necessary, the Extraordinary General Meetings of the Company.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 12 - The members
of the Audit and Integrity Committee shall have the same fiduciary duties and responsibilities applicable to the Company's managers, pursuant
to the Brazilian Corporate Law.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: -0.5pt">Social exercise and Results</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 34. </B>The fiscal
year coincides with the calendar year and, at its end, the Company will prepare the financial statements provided for in the Brazilian
Corporation Law for purposes of publication and consideration by the General Meeting.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 35. </B>The result
of each fiscal year will be deducted, before any participation, any accumulated losses and the provision for income tax.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Sole Paragraph - After making
the deductions referred to in this Article, the General Meeting may assign to the employees and administrators, successively and in that
order:</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 15.3pt">(i)</TD><TD STYLE="text-align: justify">the statutory participation of the Company's employees up to the maximum limit of 10% (ten percent) of
the remaining profits; and</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 15.3pt">(ii)</TD><TD STYLE="text-align: justify">the statutory participation of the administrators, up to the maximum legal limit.</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 36. </B>After
deducting the shares mentioned in Article 35 above, the net income for the year will successively be allocated as follows:</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5pt">(i)</TD><TD STYLE="text-align: justify">5% (five percent) for constitution of the legal reserve, until it reaches 20% (twenty percent) of the
capital stock;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5pt">(ii)</TD><TD STYLE="text-align: justify">25% (twenty-five percent) as a minimum mandatory dividend, adjusted in accordance with Article 202 of
the Brazilian Corporation Law, to be attributed to all of the Company's shares;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5pt">(iii)</TD><TD STYLE="text-align: justify">20% (twenty percent) for the establishment of reserves for capital increase, until reaching the limit
of 20% (twenty percent) of the Capital Stock;</TD></TR></TABLE>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5pt">(iv)</TD><TD STYLE="text-align: justify">up to 50% (fifty percent) for the establishment of a reserve for expansion, until it reaches 80% (eighty
percent) of the Capital Stock, with the purpose of ensuring investments in permanent assets, or increases in working capital, including
through the amortization of the Company's debts,
independently of the profit withholdings linked to the capital budget, and its balance may be used: (i) in the absorption of losses, whenever
necessary; (ii) in the distribution of dividends, at any time; (iii) in operations of redemption, reimbursement or purchase of shares,
authorized by Law; and (iv) in the incorporation to the Capital Stock, including through bonuses in new shares.</TD></TR></TABLE>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 37. </B>Unless
otherwise resolved by the General Meeting, the payment of dividends and interest on equity will be made within 60 (sixty) days from the
date of the respective resolution.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 - By resolution
of the Board of Directors, pursuant to Article 23 above, the Company may draw up semiannual balance sheets or those relating to shorter
periods, as well as declare dividends and/or interest on equity to the account of profits calculated in these balance sheets, of retained
earnings or profit reserves existing in the last annual or semi-annual balance sheet, as provided for by law.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 2 &ndash; Interim
dividends and interest on equity declared in each fiscal year may be attributed to the mandatory dividend of the income for the fiscal
year.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 38. </B>Dividends
not received or claimed will expire within three (3) years from the date they were made available to the shareholder, and will revert
to the Company.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">TRANSFER OF SHAREHOLDING
CONTROL, CANCELLATION OF REGISTRATION AS A PUBLICLY-HELD COMPANY AND EXIT FROM NOVO MERCADO</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 39. </B>The disposal
of the Company's control, directly or indirectly, either through a single operation or through successive operations, must be contracted
under the condition that the acquirer of control undertakes to carry out a public offer for the acquisition of the shares ( &quot; <U>OPA</U>
&rdquo;) with the purpose of the shares issued by the Company held by the other shareholders, observing the conditions and deadlines provided
for in the legislation and regulations in force and in the Novo Mercado Regulation, in order to ensure them equal treatment with that
given to the seller.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 - For the purposes
of these Bylaws, control and its related terms are understood to be the power effectively used by a shareholder to direct the corporate
activities and guide the operation of the company's bodies, directly or indirectly, in fact or in law, regardless of the equity interest
held.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 2 - If the acquisition
of control also subjects the acquirer of control to the obligation to carry out the OPA required by Article 41 of these Bylaws, the acquisition
price in the OPA will be the highest among the prices determined in accordance with this Article 39 and Article 41, Paragraph 3 of these
Bylaws.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 3&ordm; - In case
of indirect transfer of control, the acquirer must disclose the value attributed to the Company for the purpose of defining the price
of the Tender Offer, as well as disclose the justified statement of this value.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 4 - The OPA must
comply with the conditions and deadlines provided for in the legislation and regulations in force and the Novo Mercado Regulation.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 40. </B>After
a sale of the Company's control and subsequent OPA, the acquirer of control, when necessary, must take the appropriate measures to restore
the minimum percentage of outstanding shares provided for in the Novo Mercado Regulation, within the 18 (eighteen) ) months following
the acquisition of control authority.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 41. </B>Any Acquiring
Shareholder, who acquires or becomes the holder of shares issued by the Company, in an amount equal to or greater than 33.33% (thirty-three
point thirty-three percent) of the total shares issued by the Company shall (i) immediately disclose such information through a material
fact, as provided for in the regulations issued by CVM; and (ii) within a maximum period of 30 (thirty) days from the date of acquisition
or the event that resulted in the ownership of shares in an amount equal to or greater than 33.33% (thirty-three point thirty-three percent)
of the total shares issued by the Company, carry out or request the registration of, as the case may be, an OPA of all shares issued by
the Company, observing the provisions of the applicable CVM regulations, the B3 regulations and the terms of this Article .</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 1 - For the purposes
of these Bylaws, (i) &ldquo;Acquiring Shareholder&rdquo; means any person, including, without limitation, any natural or legal person,
investment fund, condominium, securities portfolio, universality of rights, or other form of organization , resident, domiciled or headquartered
in Brazil or abroad, or Group of Shareholders, which acquires shares of the Company; and (ii) &ldquo;Group of Shareholders&rdquo; means
the group of people: (a) bound by contracts or voting agreements of any nature, either directly or through subsidiaries, controlling companies
or under common control; or (b) between which there is a controlling relationship; or (c) under common control.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 2- The OPA must
be (i) addressed without distinction to all shareholders of the Company; (ii) carried out through an auction to be held at B3; (iii) launched
at the price determined according to the provisions of Paragraph 2 of this article; and (iv) paid in cash, in national currency, for the
acquisition in the OPA of shares issued by the Company.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 3 - The acquisition
price in the OPA of each share issued by the Company may not be less than the highest value between (i) 140% (one hundred and forty percent)
of the average unit quotation of the shares issued by the Company during the last 120 (one hundred and twenty) trading sessions prior
to the date on which the OPA becomes mandatory, on the stock exchange where there is the largest volume of trading of shares issued by
the Company; and (ii) 140% (one hundred and forty percent) of the average unit quotation of the shares issued by the Company during the
last 30 (thirty) trading days prior to the date on which the OPA becomes mandatory, on the stock exchange on that there is the largest
volume of trading of shares issued by the Company.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 4 - The conduction
of the OPA (Tender Offer) mentioned in the caput of the Article herein shall not exclude the possibility for another shareholder of the
Company, or, as the case may be, the Company itself, to make a competing Tender Offer, pursuant to the applicable regulation.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 5 - The Acquiring
Shareholder shall be obliged to comply with any requests or requirements of CVM, formulated based on the applicable legislation, related
to the Tender Offer, within the maximum terms prescribed in the applicable regulations.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 6 - In the event
that the Acquiring Shareholder does not comply with the obligations imposed by this Article, including with regard to meeting the maximum
terms (i) for carrying out or requesting the registration of the Tender Offer or (ii) for meeting any requests or requirements of CVM,
the Board of Directors of the Company will call an Extraordinary General Meeting, in which the Acquiring Shareholder may not vote, to
resolve on the suspension of the exercise of the rights of the Acquiring Shareholder who did not comply with any obligation imposed in
this Article, as provided for in Article 120 of the Brazilian Corporation Law, without prejudice to the Acquiring Shareholder's liability
for losses and damages caused to other shareholders as a result of non-compliance with the obligations imposed by this Article.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 7 - Any Acquiring
Shareholder that acquires or becomes the holder of other rights, including usufruct or trust, over the shares issued by the Company in
an amount equal to or greater than 33.33% (thirty-three point thirty-three percent) of the total number of shares issued by the Company,
will also be obliged, within a maximum period of 30 (thirty) days from the date of such acquisition or the event that resulted in the
ownership of such rights over shares in an amount equal to or greater than 33.33 % (thirty-three point thirty-three percent) of the total
shares issued by the Company, carry out or request the registration, as the case may be, of an OPA, under the terms described in this
Article.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 8 - The obligations
contained in Article 254-A of the Brazilian Corporation Law and in Article 39 of these Bylaws do not exclude compliance by the Acquiring
Shareholder with the obligations contained in this Article, except for the provisions of Article 45 and Article 46 of these Bylaws .</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 9 - The provisions
of this Article do not apply in the event that a person becomes the holder of shares issued by the Company in an amount greater than 33.33%
(thirty-three point thirty-three percent) of the total shares issued by it as a result of (i) legal succession, under the condition that
the shareholder disposes of the excess of shares within 60 (sixty) days from the relevant event, (ii) from the incorporation of another
company by the Company, (iii) from the merger of shares of another company by the Company, or (iv) of the subscription of shares of the
Company, carried out in a single primary issue, which has been approved at the General Meeting of the Company's shareholders, in accordance
with the rules provided for in the applicable regulations.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 10 - For the purpose
of calculating the percentage of thirty-three point three percent (33.33%) of the total shares issued by the Company described in the
main section of this Article, the involuntary additions of equity interest resulting from cancellation of treasury shares or reduction
of the Company's capital stock with the cancellation of shares shall not be computed.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Paragraph 11 - Should CVM
regulation applicable to the Tender Offer, as determined in the Article herein, determine the adoption of a calculation criterion for
the determination of the acquisition price of each Company share at the Tender Offer which results in acquisition price higher than the
one determined pursuant to Paragraph 3 of this Article, shall prevail in the execution of the Tender Offer set forth in the Article herein
that acquisition price calculated pursuant to CVM regulation.</P>


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<P STYLE="font: 11pt/18pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 42. </B>The Company's
delisting from the Novo Mercado, whether by voluntary or compulsory act or as a result of corporate reorganization, must comply with the
rules contained in the Novo Mercado Regulation.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 43. </B>Without
prejudice to the provisions of the New Market Regulation, the voluntary delisting from the New Market must be preceded by an OPA that
observes the procedures provided for in the regulations issued by the CVM on OPA for cancellation of registration as a publicly-held company
and the following requirements: (i) the price offered must be fair, if possible, the request for a new valuation of the Company in the
manner established in the Brazilian Corporate Law; (ii) shareholders holding more than 1/3 (one third) of the Outstanding Shares must
accept the OPA or expressly agree with the exit from said segment without effecting the sale of the shares.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Sole Paragraph. Voluntary
delisting from the Novo Mercado may occur regardless of the Tender Offer mentioned in this Article, in the event of a waiver approved
at the General Meeting, subject to the rules and conditions of the Novo Mercado Regulation.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 44.</B> Without
prejudice to the provisions of the Novo Mercado Regulation, the compulsory delisting from the Novo Mercado must be preceded by an OPA
that observes the procedures provided for in the regulations issued by the CVM on public offers for the acquisition of shares for the
cancellation of registration as a publicly-held company and the requirements established in the <I>caput</I> of Article 43.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Sole Paragraph. In the event
of failure to reach the percentage of acquisition of shares that authorize the exit from the Novo Mercado, after the OPA provided for
in the <I>caput</I> , the shares issued by the Company will still be traded for a period of 6 (six) months on the Novo Mercado, counting
from the holding of the OPA auction, without prejudice to the application of possible sanctions by B3.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 45. </B>The establishment
of a single Tender Offer is provided for, aiming to fulfill more than one of the purposes provided for in this Chapter, in the Novo Mercado
Regulation or in the regulation issued by the CVM, provided that it is possible to make the procedures of all Tender Offer modalities
compatible and there are no losses generated to the addressees of the offer and CVM authorization is obtained when required by the applicable
law.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">Sole Paragraph - With the
exception of those OPAs destined for the delisting of the Novo Mercado and/or the cancellation of the registration as a publicly-held
company, the realization of a unified OPA can only be carried out by a shareholder of the Company that holds an amount equal to or greater
than 33.33% (thirty and three point thirty-three percent) of the total number of shares issued by the Company, subject to the provisions
of <I>caput</I> of Article 41 regarding the minimum price to be paid per share.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 46. </B>The shareholders
responsible for carrying out the Tender Offer provided for in this Chapter 0, in the Novo Mercado Listing Regulation or in the regulations
issued by CVM may ensure its execution through any shareholder or third party.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">The Company or the shareholder,
as applicable, is not released from the obligation to carry out the Tender Offer until it is completed in compliance with the applicable
rules.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: -0.5pt">ARBITRATION COURT</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 47. </B>The Company,
its shareholders, managers and members of the Fiscal Council undertake to resolve, through arbitration, at the Market Arbitration Chamber,
in accordance with its regulation, any and all disputes that may arise between them, related to <STRIKE>s</STRIKE> with or from <STRIKE>s</STRIKE>
of its status as issuer, shareholder, manager or member of the Fiscal Council, as the case may be, and, in particular, of the application,
validity, effectiveness, interpretation, violation and its effects, arising from the provisions contained in Law No. 6,385/1976, in the
Brazilian Corporation Law, in the rules issued by the National Monetary Council, by the Central Bank of Brazil or by the CVM, as well
as in other rules applicable to the operation of the capital market in general and those contained in the Novo Mercado Regulation, the
other regulations of the B3 and the Novo Mercado participation agreement, as well as the Arbitration Rules of the Market Arbitration Chamber,
to be conducted in accordance with the latter Rules.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: -0.5pt">LIQUIDATION OF THE COMPANY</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt"><B>Article 48. </B>The Company
will go into liquidation in the cases determined by law, and the General Assembly will be responsible for electing the liquidator or liquidators,
as well as the Fiscal Council that must operate during this period, in compliance with the legal formalities.</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: bold 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: -0.5pt">XI - MISCELLANEOUS</P>
<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Article 49. </B>The Company shall comply with
the shareholders' agreements filed at the head office, and it is expressly forbidden to the members of the presiding board of the meeting
or of the Board of Directors to accept a voting declaration of any shareholder, signatory of a shareholders' agreement duly filed at the
head office or of a member of the Board of Directors elected by the signatories of such agreement, It is also expressly forbidden for
the Company to accept and proceed with the transfer of shares and/or the encumbrance and/or assignment of preemptive rights to the subscription
of shares and/or other securities that do not comply with the provisions and regulations of the shareholders' agreement filed at the Company's
headquarters.</P>


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<P STYLE="font: 11pt/18pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">BRF S.A.</P>

<P STYLE="font: 11pt/125% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Attachment VII - Comparative table of the proposed
amendment to the Company's Bylaws with an indication of the justification for the amendments and the analysis of their legal and economic
effects</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 36%; border: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Current</TD>
    <TD STYLE="width: 34%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Proposal</TD>
    <TD STYLE="width: 30%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Justification and Analysis of Effects</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt">II - CAPITAL STOCK</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Article 5</B> The Company's capital stock is R$
    12,553,417,953.36 (twelve billion, five hundred and fifty-three million, four hundred and seventeen thousand, nine hundred and fifty-three
    reais and thirty-six cents), fully subscribed and paid-in, divided into 812,473,246 (eight hundred and twelve million, four hundred and
    seventy-three thousand, two hundred and forty-six) common shares, all registered and without par value.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>Article 5</B> The Company's capital stock is <FONT STYLE="color: red"><U>BRL 13,053,417,953.36 (thirteen billion, fifty-three million, four hundred and seventeen thousand, nine hundred and fifty-three reais and thirty-six cents)</U></FONT> , fully subscribed and paid in, divided into <FONT STYLE="color: red"><U>1,082,473,246 (one billion, eighty-two million, four hundred and seventy-three thousand, two hundred and forty-six)</U></FONT> common shares, all registered and without par value <FONT STYLE="color: red"><STRIKE>12,553,417,953.36 (twelve billion, five hundred and fifty-three million, four hundred and seventeen thousand, nine hundred and fifty-three reais and thirty-six cents), fully subscribed and paid in, divided into 812,473,246 (eight hundred and twelve million, four hundred and seventy-three thousand, two hundred and forty-six) common shares, all registered and without par value</STRIKE></FONT> .</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The amendment to the Bylaws aims to update the capital
    stock and the number of common shares into which it is divided, in view of the capital increase approved by the Extraordinary General
    Meeting held on 01.17.2022.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The proposed amendment will not produce legal or economic
    effects, as its purpose is only to reflect in the Bylaws the changes that occurred in the value of the capital stock and in the number
    of common shares into which it is divided after the realization of a public offering of primary distribution with restricted efforts,
    approved by the Extraordinary General Meeting held on 01.17.2022.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Annual meeting.</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Annual meeting.</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  </TABLE>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Article 16.</B> It is incumbent upon the General
    Meeting, in addition to the other duties provided for by law and in these Bylaws:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(g) assign bonus shares and decide on any reverse splits
    and splits of shares;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">approve stock option or subscription plans or stock
    granting plans for managers and employees or individuals who provide services to the Company, as well as managers and employees or individuals
    who provide services to other companies that are directly or indirectly controlled by the Company;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">deliberate, according to the proposal presented by
    the management, on the destination of the year's results and the distribution of dividends;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(iv) resolve on the Company's delisting from the Novo
    Mercado;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(v) establish the remuneration of the Fiscal Council
    in accordance with the Law and these Bylaws;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">to approve, under the terms of the Novo Mercado Regulation,
    the waiver of a Public Offer for Acquisition of Shares in the event of delisting from the Novo Mercado.</P>
    <P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 34%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Article 16.</B> It is incumbent upon the General
    Meeting, in addition to the other duties provided for by law and in these Bylaws:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(g) assign bonus shares and decide on any reverse splits
    and splits of shares;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">approve stock option or subscription plans or stock
    granting plans for managers and employees or individuals who provide services to the Company, as well as managers and employees or individuals
    who provide services to other companies that are directly or indirectly controlled by the Company;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">deliberate, according to the proposal presented by
    the management, on the destination of the year's results and the distribution of dividends;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(iv) resolve on the Company's delisting from the Novo
    Mercado;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(v) establish the remuneration of the Fiscal Council
    in accordance with the Law and these Bylaws;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(vi) to approve, under the terms of the Novo Mercado
    Regulation, the exemption from carrying out a Public Offer for the Acquisition of Shares in the event of delisting from the Novo Mercado
    <STRIKE>.</STRIKE> <FONT STYLE="color: red">; and</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: red">&nbsp;</P>
    <P STYLE="color: red; font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><U>(vii) approve operations
    and business with related parties or the sale or contribution of assets, whenever, in any of these cases, the value of the operation or
    business corresponds to more than 50% (fifty percent) of the value of the assets of the Company's balance sheet last approved at the General
    Meeting.</U></P></TD>
    <TD STYLE="width: 30%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The amendment to the Bylaws aims to adapt it to article
    122, item X, of Law No. 6,404/1976, as amended by Law No. 14,195/2021.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The proposed amendment will not produce legal or economic
    effects, as it only aims to reflect in the Bylaws the changes made to Law No. 6,404/1976 by Law No. 14,195/2021.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">IV. Management</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">IV. Management</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Subsection II.2. Competence</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Subsection II.2. Competence</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  </TABLE>

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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Article 23</B>. It is incumbent upon the Board of
    Directors, in addition to the other duties provided for in the legislation and in these Bylaws:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(...)</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">approve the carrying out of operations and business
    of any nature with related parties, in accordance with the provisions of the Policy on Transactions with Related Parties and Other Situations
    of Conflict of Interest of the Company, as approved by the Board of Directors;</P></TD>
    <TD STYLE="width: 34%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Article 23</B>. It is incumbent upon the Board of
    Directors, in addition to the other duties provided for in the legislation and in these Bylaws:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(...)</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(xxxvii) <FONT STYLE="color: red">observing the provisions
    of article 16, item (vii) of these Bylaws,</FONT> to approve the performance of operations and business of any nature with related parties,
    in accordance with the provisions of the Policy on Transactions with Related Parties and Other Situations of Conflict of Interest of the
    Company, as approved by the Board of Directors;</P></TD>
    <TD STYLE="width: 30%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The amendment to the Bylaws aims to adapt it to article
    122, item X, of Law No. 6,404/1976, as amended by Law No. 14,195/2021.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The proposed amendment will not produce legal or economic
    effects, as it is only intended to reflect in the Bylaws the changes made to Law No. 6,404/1976 by Law No. 14,195/2021.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">IV. Management</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">IV. Management</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Section III - Executive Board</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Section III - Executive Board</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 180 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Article 24.</B> The Executive Board, whose members
    are elected and removed at any time by the Board of Directors, will be composed of at least 2 (two) and at most 15 (fifteen) members,
    elected for a period of 2 (two) years , renewal is allowed, being one Global Chief Executive Officer and 1 (one) Chief Financial and Investor
    Relations Officer, and the other Executive Vice-Presidents with designation and duties to be proposed to the Board of Directors by the
    Global Chief Executive Officer, pursuant to Article 26 below, all of them being professionals who meet the parameters indicated in Paragraphs
    3 and 4 below.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Paragraph 1 - The positions of Chairman of the Board
    of Directors and Global Chief Executive Officer cannot be held by the same person, except as provided for in Paragraph 2 below.</P>
    <P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">Paragraph 2 - The rule contained in Paragraph
    1 of this Article does not apply to the event of vacancy in the position of Global Chief Executive Officer, in which case the Company
    shall: (i) disclose the accumulation of positions as a result of the vacancy until the day useful following the occurrence; (ii) disclose,
    within a period of 60 (sixty) days, counting from the vacancy, the measures taken to cease the accumulation of positions; and (iii) cease
    accumulation within 1 (one) year.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Paragraph 3 - The election of the Executive Board will
    be carried out by the Board of Directors, which may choose among the candidates pre-selected by the Global Chief Executive Officer. To
    this end, the Global Chief Executive Officer will send the Board of Directors a copy of the &quot;curriculum vitae&quot; (resume) of the
    indicated candidate, along with the terms of his or her hiring and all other information necessary to prove the qualifications established
    in Paragraph 4 of this Article. If the Board of Directors does not approve the nominations presented, new names must be appointed by the
    Global Chief Executive Officer, until they are approved by the Board of Directors.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Paragraph 4 - The Executive Board will be composed
    exclusively of professionals who have proven academic and practical training, acquired in courses and in the exercise of activities compatible
    with the functions for which they are being appointed.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P></TD>
    <TD STYLE="width: 34%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Article 24.</B> The Executive Board, whose members
    are elected and removable at any time by the Board of Directors, will consist of at least two (2) and at most fifteen (15) members, elected
    for a period of two (2) years, re-election being permitted, being one (1) Global Chief Executive Officer and one (1) Chief Financial and
    Investor Relations Officer, and the other Executive Vice-Presidents with designation and functions to be proposed to the Board of Directors
    by the Global Chief Executive Officer, pursuant to Article 26 below, all of them being professionals that meet the parameters indicated
    in Paragraphs 32 and 43 below.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Paragraph 1 - The positions of Chairman of the Board
    of Directors and Global Chief Executive Officer cannot be held by the same person <FONT STYLE="color: red"><STRIKE>, except as provided
    in Paragraph 2 below</STRIKE></FONT> .</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="color: red; font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><STRIKE>Paragraph 2 - The rule
    contained in Paragraph 1 of this Article does not apply to the event of vacancy in the position of Global Chief Executive Officer, in
    which case the Company shall: (i) disclose the accumulation of positions as a result of the vacancy until the day useful following the
    occurrence; (ii) disclose, within a period of 60 (sixty) days, counting from the vacancy, the measures taken to cease the accumulation
    of positions; and (iii) cease accumulation within 1 (one) year.</STRIKE></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Paragraph 32 - The election of the Board of Executive
    Officers shall be carried out by the Board of Directors, which may choose from among the candidates pre-selected by the Global Chief Executive
    Officer. To this end, the Global Chief Executive Officer will send to the Board of Directors a copy of the &quot;curriculum vitae&quot;
    of the nominated candidate, together with the terms of their hiring and all other information necessary to prove the qualification established
    in Paragraph <FONT STYLE="color: red"><STRIKE>4</STRIKE> 3</FONT> of this Article. If the Board of Directors does not approve the nominations
    presented, new names must be appointed by the Global Chief Executive Officer, until they are approved by the Board of Directors.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Paragraph 43 -The Executive Board shall be formed exclusively
    by professionals who have proven academic and practical training, acquired in courses and in the exercise of activities compatible with
    the functions for which they are being nominated.|</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P></TD>
    <TD STYLE="width: 30%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The amendment to the Bylaws aims to adapt it to Article
    138, &sect;3, of Law No. 6,404/1976, as amended by Law No. 14,195/2021.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The proposed amendment will not produce legal or economic
    effects, as it only aims to reflect in the Bylaws the changes made to Law No. 6,404/1976 by Law No. 14,195/2021.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">IV. Management</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">IV. Management</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt/107% Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: justify">Section III - Executive Board</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Section III - Executive Board</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
  </TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Article 25</B> The Executive Board is responsible
    for:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(...)</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">approve the carrying out of certain operations and
    business with Related Parties, in accordance with the provisions of the Policy on Transactions with Related Parties and Other Situations
    of Conflicts of Interest of the Company;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(...)</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P></TD>
    <TD STYLE="width: 34%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Article 25</B> The Executive Board is responsible
    for:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(...)</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(saw) <FONT STYLE="color: red">observing the provisions
    of article 16, item (vii) of these Bylaws,</FONT> to approve the performance of certain operations and businesses with Related Parties,
    in accordance with the provisions of the Policy on Transactions with Related Parties and Other Situations of Conflict of Interest of the
    Company;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(...)</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P></TD>
    <TD STYLE="width: 30%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The amendment to the Bylaws aims to adapt it to article
    122, item X, of Law No. 6,404/1976, as amended by Law No. 14,195/2021.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The proposed amendment will not produce legal or economic
    effects, as it only aims to reflect in the Bylaws the changes made to Law No. 6,404/1976 by Law No. 14,195/2021.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 12pt/125% Courier New, Courier, Monospace; margin: 0; text-align: center"><B><I>&nbsp;</I></B></P>

<P STYLE="font: italic bold 12pt/125% Courier New, Courier, Monospace; margin: 0 0 8pt">&nbsp;</P>








































































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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
