<SEC-DOCUMENT>0001292814-23-002537.txt : 20230602
<SEC-HEADER>0001292814-23-002537.hdr.sgml : 20230602
<ACCEPTANCE-DATETIME>20230602080110
ACCESSION NUMBER:		0001292814-23-002537
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20230630
FILED AS OF DATE:		20230602
DATE AS OF CHANGE:		20230602

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:		23986776

	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
</SEC-HEADER>
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<TYPE>6-K
<SEQUENCE>1
<FILENAME>brf20230601_6k3.htm
<DESCRIPTION>6-K
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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;June
1, 2023</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;June&nbsp;1,
    2023</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/ Fabio Luis Mendes Mariano</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;Fabio Luis Mendes Mariano</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%">
<TR STYLE="vertical-align: top">
    <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">SHAREHOLDERS MANUAL</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>


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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99-1.htm
<DESCRIPTION>EX-99.1
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<P STYLE="font: 12pt Tahoma,sans-serif; margin: 0; text-align: center"><IMG SRC="brf202306016k3_001.jpg" ALT="" STYLE="height: 48.25pt; width: 99pt"></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>BRF S.A.</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center">Publicly-Held Company<BR>
Corporate Taxpayer (CNPJ) 01.838.723/0001-27</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center">Commercial Register (NIRE) 42.300.034.240</P>

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

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

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

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

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

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

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

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>SHAREHOLDERS MANUAL</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

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

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>EXTRAORDINARY GENERAL SHAREHOLDERS&rsquo; MEETING </B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>JULY 3<SUP>rd</SUP>, 2023</B></P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>INDEX</B></P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="width: 90%; text-align: left; text-indent: -42.55pt; padding-top: 7pt; padding-bottom: 3pt; padding-left: 42.55pt">1&nbsp;&nbsp;&nbsp;MANAGEMENT MESSAGE</TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 7pt; padding-bottom: 3pt">3</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; text-indent: -42.55pt; padding-top: 7pt; padding-bottom: 3pt; padding-left: 42.55pt">2&nbsp;&nbsp;&nbsp;GUIDANCE TO PARTICIPATE IN THE EXTRAORDINARY GENERAL SHAREHOLDERS&rsquo; MEETING</TD>
    <TD STYLE="text-align: right; padding-top: 7pt; padding-bottom: 3pt">5</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; text-indent: -42.55pt; padding-top: 0cm; padding-bottom: 3pt; padding-left: 42.55pt"><B>2.1</B>&nbsp;&nbsp;&nbsp;<B>ATTENDANCE IN THE VIRTUAL MEETING</B></TD>
    <TD STYLE="text-align: right; padding-top: 0cm; padding-bottom: 3pt">5</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; text-indent: -42.55pt; padding-top: 0cm; padding-bottom: 3pt; padding-left: 42.55pt"><B>2.1.1</B>&nbsp;&nbsp;&nbsp;<B>Shareholders</B></TD>
    <TD STYLE="text-align: right; padding-top: 0cm; padding-bottom: 3pt">5</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; text-indent: -42.55pt; padding-top: 0cm; padding-bottom: 3pt; padding-left: 42.55pt"><B>2.1.2</B>&nbsp;&nbsp;&nbsp;<B>HOLDERS OF AMERICAN DEPOSITORY RECEITPS - ADRs</B></TD>
    <TD STYLE="text-align: right; padding-top: 0cm; padding-bottom: 3pt">7</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; text-indent: -42.55pt; padding-top: 0cm; padding-bottom: 3pt; padding-left: 42.55pt"><B>2.2</B>&nbsp;&nbsp;&nbsp;<B>PARTICIPATION BY DISTANCE VOTING FORM</B></TD>
    <TD STYLE="text-align: right; padding-top: 0cm; padding-bottom: 3pt">7</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; text-indent: -42.55pt; padding-top: 0cm; padding-bottom: 3pt; padding-left: 42.55pt"><B>2.2.1</B>&nbsp;&nbsp;&nbsp;<B>By filling instructions transmitted to the Company&rsquo;s bookkeeper agent</B></TD>
    <TD STYLE="text-align: right; padding-top: 0cm; padding-bottom: 3pt">8</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; text-indent: -42.55pt; padding-top: 0cm; padding-bottom: 3pt; padding-left: 42.55pt"><B>2.2.2</B>&nbsp;&nbsp;&nbsp;<B>By filling instructions transmitted to their respective custodian agents</B></TD>
    <TD STYLE="text-align: right; padding-top: 0cm; padding-bottom: 3pt">9</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; text-indent: -42.55pt; padding-top: 0cm; padding-bottom: 3pt; padding-left: 42.55pt"><B>2.2.3</B>&nbsp;&nbsp;&nbsp;<B>By sending the Distance Voting Form Directly to BRF</B></TD>
    <TD STYLE="text-align: right; padding-top: 0cm; padding-bottom: 3pt">9</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; text-indent: -42.55pt; padding-top: 0cm; padding-bottom: 3pt; padding-left: 42.55pt"><B>2.3</B>&nbsp;&nbsp;&nbsp;<B>QUORUMS APPLICABLE TO THE EGM</B></TD>
    <TD STYLE="text-align: right; padding-top: 0cm; padding-bottom: 3pt">11</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; text-indent: -42.55pt; padding-top: 0cm; padding-bottom: 3pt; padding-left: 42.55pt"><B>2.3.1</B>&nbsp;&nbsp;&nbsp;<B>Installation Quorums</B></TD>
    <TD STYLE="text-align: right; padding-top: 0cm; padding-bottom: 3pt">11</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; text-indent: -42.55pt; padding-top: 0cm; padding-bottom: 3pt; padding-left: 42.55pt"><B>2.3.2</B>&nbsp;&nbsp;&nbsp;<B>Deliberation Quorum</B></TD>
    <TD STYLE="text-align: right; padding-top: 0cm; padding-bottom: 3pt">11</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; text-indent: -42.55pt; padding-top: 0cm; padding-bottom: 3pt; padding-left: 42.55pt"><B>2.4</B>&nbsp;&nbsp;&nbsp;<B>CONFLICT OF INTERESTS</B></TD>
    <TD STYLE="text-align: right; padding-top: 0cm; padding-bottom: 3pt">11</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; text-indent: -42.55pt; padding-top: 7pt; padding-bottom: 3pt; padding-left: 42.55pt">3&nbsp;&nbsp;&nbsp;MANAGEMENT PROPOSAL FOR THE EXTRAORDINARY GENERAL SHAREHOLDERS&rsquo; MEETING TO BE HELD ON JULY 3RD, 2023</TD>
    <TD STYLE="text-align: right; padding-top: 7pt; padding-bottom: 3pt">12</TD></TR>
</TABLE>
<P STYLE="font: 11pt Arial,sans-serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>TABLE OF APPENDIXS</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0"><B>&nbsp;</B></P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="width: 90%; text-align: left; padding-top: 7pt; padding-bottom: 3pt; padding-left: 0cm"><B>Appendix I &ndash; Copy of the Company's Bylaws highlighting the proposed amendments in item (i) of EGM&rsquo;s Agenda, pursuant to
article 12, of CVM Reolution No. 81</B></TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 7pt; padding-bottom: 3pt">&nbsp;</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; padding-top: 7pt; padding-bottom: 3pt; padding-left: 0cm"><B>Appendix II &ndash; Comparative table of the proposed amendments in item (i) of EGM&rsquo;s Agenda, with the justification for the
changes and the analysis of their legal and economic effects, according to article 12, of CVM Resolution No. 81.</B></TD>
    <TD STYLE="text-align: right; padding-top: 7pt; padding-bottom: 3pt">&nbsp;</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; padding-top: 7pt; padding-bottom: 3pt; padding-left: 0cm"><B>Appendix III &ndash; Copy of the consolidated Company&rsquo;s Bylaws, containing, in highlight, the amendments in item (ii) of EGM&rsquo;s
Agenda, in accordance with article 12 of CVM Resolution No. 81.</B></TD>
    <TD STYLE="text-align: right; padding-top: 7pt; padding-bottom: 3pt">&nbsp;</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; padding-top: 7pt; padding-bottom: 3pt; padding-left: 0cm"><B>Appendix IV &ndash; Comparative table of the proposed amendments in item (i) of EGM&rsquo;s Agenda, with the justification for the
changes and the analysis of their legal and economic effects, according to article 12, of CVM Resolution No. 81.</B></TD>
    <TD STYLE="text-align: right; padding-top: 7pt; padding-bottom: 3pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt">&nbsp;</P>


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<TD STYLE="width: 0"></TD><TD STYLE="width: 34pt">1</TD><TD STYLE="text-align: justify">MANAGEMENT MESSAGE</TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">Dear Shareholders,</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">BRF S.A. (&ldquo;<B>BRF</B>&rdquo; or &ldquo;<B>Company</B>&rdquo;)
is a company characterized by its widespread and diffuse shareholding control, whose shares grant equal rights to its holders and which
offers equal protection mechanisms to its shareholders.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">Our shares are listed on Novo Mercado segment of B3 &ndash;
Brasil, Bolsa, Balc&atilde;o (&ldquo;B3&rdquo;) and on the New York Stock Exchange (&ldquo;<B>NYSE</B>&rdquo;), with level III ADRs.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">In line with the policy of high level of corporate governance
adopted by the Company and within the principles of transparency, homogeneity and equality defined for the relationship with our investors,
we invite you to attend our Extraordinary General Shareholders&rsquo; Meeting (&ldquo;<B>EGM</B>&rdquo;) convened for July 3<SUP>rd</SUP>,
2023, at 11:00 a.m., exclusively under virtual format, by means of the digital platform Chorus Call (&ldquo;<B>Digital Platform</B>&rdquo;).</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">To reinforce our concern over the information provided,
we have made available on our Investor Relations website (<FONT STYLE="color: #3265FF"><B><U>https://ri.brf-global.com/</U></B></FONT>,
under item Corporate Governance) and on the websites of the Brazilian Securities and Exchange Commission (Comiss&atilde;o de Valores
Mobili&aacute;rios) (www.cvm.gov.br), the B3 (www.b3.com.br) and the SEC - Securities and Exchange Commission (www.sec.gov), all the
documents legally required and other that we deem as necessary to endorse the understanding and the decision to be taken by the shareholders
that will be subject to deliberation at this EGM, as well as in this Manual.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">We will discuss the following subjects to be approved:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 34pt">(i)</TD><TD STYLE="text-align: justify">Increase of the authorized capital limit, from the current one billion, three hundred and twenty-five
million (1,325,000,000) common shares to one billion, eight hundred and twenty-five million (1,825,000,000) common shares, with the consequent
amendment of the caput of article 7 of the Company's bylaws (&ldquo;Company&rsquo;s Bylaws&rdquo;) and consolidation of the Company's
Bylaws; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 34pt">(ii)</TD><TD STYLE="text-align: justify">Deletion of article 41 of the Company&rsquo;s Bylaws, under the condition precedent to the settlement
of an eventual capital increase through the issuance of new shares by the Company (&quot;<B>Capital Increase</B>&quot;) with the consequent
deletion of cross references and renumbering of the other articles, and consolidation of the Company&rsquo;s Bylaws. Additionally, the
waiver to the shareholders and/or investors from conducting a Tender Offer referred to in article 41 of the Company's Bylaws, in the context
of an eventual Capital Increase (regardless of whether the Capital Increase will be approved by the shareholders or by the Company's Board
of Directors).</TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">We welcome your participation in our EGM, as it will deal
with matters that are relevant to the Company and that are reflected in the effective generation of value for our shareholders.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">We understand that the information now available enables
our shareholders to take an early position and facilitate decision-making. Our Investor Relations team is prepared and available to resolve
any doubts or to guide you.</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">Counting on your presence, we take the opportunity to present
our consideration and appreciation.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">Sincerely,</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>Marcos Antonio Molina dos Santos</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center">Chairman of the Board of Directors</P>

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

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

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>Miguel de Souza Gularte</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center">Global Chief Executive Officer</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 0 10cm; text-indent: -10cm">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 0 10cm; text-indent: -10cm">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 0 10cm; text-align: center; text-indent: -10cm"><B>Fabio Luis Mendes Mariano</B></P>

<P STYLE="font: 11pt Arial MT,sans-serif; margin: 0 0 0 10cm; text-align: center; text-indent: -10cm">Chief Financial and Investor Relations
Officer</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 34pt">2</TD><TD STYLE="text-align: justify">GUIDANCE TO PARTICIPATE IN THE EXTRAORDINARY GENERAL SHAREHOLDERS&rsquo; MEETING</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 34pt"><FONT STYLE="font-size: 10.5pt"><B>2.1</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B><U>ATTENDANCE IN THE VIRTUAL MEETING</U></B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-size: 11pt"><B>2.1.1</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>Shareholders</B></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">The EGM will be carried out exclusively under virtual format,
by means of the Digital Platform, pursuant to article 124, paragraph 2-A, of Law No. 6,404/1976 (&ldquo;<B>Brazilian Corporate Law</B>&rdquo;)
and under the Brazilian Securities and Exchange Commission (&ldquo;<B>CVM</B>&rdquo;) Resolution No. 81, dated March 29, 2022, as amended
(&quot;<B>CVM Resolution 81</B>&quot;).</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">The Company emphasizes that it will not be possible to physically
attend the EGM, since it will be held exclusively on-line</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">As provided for in article 6, paragraph 3, of CVM Resolution
No. 81, shareholders wishing to attend in the EGM, personally or by means of attorneys-in-fact, must forward, until 11:00 a.m. of July
1<SUP>st</SUP>, 2023, 2 (two) days prior to the EGM, exclusively by the e-mail acoes@brf-br.com, a request of access to the Digital Platform
(&ldquo;<B>Access Request</B>&rdquo;).</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">The Access Request must contain the identification of the
shareholder and, if applicable, of his attorney-in-fact who will attend in the EGM, and the digitalized copies of the following documents:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify; text-indent: 0cm"><B>(a)<FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt"><U>INDIVIDUAL SHAREHOLDERS </U></FONT></B></P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">Picture I.D.; and</FONT></P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">Statement disclosing the respective shareholding stake, issued by the financial institution responsible
for the custody of the shares.</FONT></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify; text-indent: 0cm"><B>(b)<FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt"><U>CORPORATE SHAREHOLDERS </U></FONT></B></P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">Latest version of the bylaws or consolidated articles of association and the corporate documentation
granting powers to represent the legal entity (i.e. minutes of the election of officers);</FONT></P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">Picture I.D. of the legal representatives;</FONT></P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">Statement disclosing the respective shareholding stake, issued by the financial institution responsible
for the custody of the shares;</FONT></P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">In case of Investment Funds: (i) the latest consolidated version of the fund regulation; (ii) bylaws
or articles of association of the administrator or manager, as the case may be, with the fund&acute;s voting policy and corporate documents
that prove the powers of representation (minutes of the election of officers, term(s) of investiture and/or power of attorney); and (iii)
picture I.D. of the legal representative(s) of the fund administrator or manager.</FONT></P>


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<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify; text-indent: 0cm">&nbsp;</P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify; text-indent: 0cm"><B>(c)<FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt"><U>SHAREHOLDERS REPRESENTED BY PROXY </U></FONT></B></P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">In addition to the documents referred to above, a power of attorney which must have been granted
within less than 1 (one) year to any attorney-in-fact who is a shareholder, manager of the Company, lawyer or financial institution, with
the investment funds administrator responsible for representing its quotaholders, as stated in paragraph 1 of article 126 of the Brazilian
Corporate Law. Corporate shareholders may be represented by proxy established according to their bylaws/articles of association, not being
mandatory that the legal representative be a shareholder, manager of the Company, lawyer or a financial institution;</FONT></P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">Picture I.D. of the attorney-in-fact; and</FONT></P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">If the shareholders so desire, they may use the proxies made available by the Company to vote on
matters of interest to the EGM, as stated in the Public Request for Proxy undertaken by the Company, in the form provided in article 50
and following of CVM Resolution No. 81. The documents referring to the Public Request for Proxy were disclosed by the Company on the Investor
Relations website (www.brf- global.com/ri, in the Corporate Governance item) and in the websites of the Brazilian Securities and Exchange
Commission (Comiss&atilde;o de Valores Mobili&aacute;rios) (www.cvm.gov.br), of B3 S.A. &ndash; Brasil, Bolsa, Balc&atilde;o (www.b3.com.br)
and of the Securities and Exchange Commission (www.sec.gov).</FONT></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify">The Access Request that is submitted by the representative
of more than one shareholder must, mandatorily, contain the digitized copies of the representation documentation necessary for the qualification
of each shareholder to be represented by him in the EGM, as indicated above.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify; text-indent: 0cm"><B>(d)<FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt"><U>FOREIGN SHAREHOLDERS </U></FONT></B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify; text-indent: 0cm">Foreign shareholders must present
the same documentation as Brazilian shareholders, except that the corporate documents of the legal entity and the power of attorney must
be translated into a sworn form, not being required their notarization and consularization.</P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify; text-indent: 0cm"><B>(e)<FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt"><U>GUIDELINES FOR ACCESSING THE DIGITAL PLATFORM</U></FONT></B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify">After verifying the regularity of the documents sent
for participation in the EGM, the Company shall forward the individual invitations to access the Digital Platform and the respective instructions
for accessing the electronic system for participation in the EGM, including the password required to do so, to shareholders (or their
duly constituted representatives or attorneys) who have submitted their Access Request within the due date and under the conditions described
above, by e-mail.</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify">Shareholders who do not send the Access Request within
the aforementioned period (until 11:00 a.m. on July 1<SUP>st</SUP>, 2023) will not be able to participate in the EGM.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify">The shareholder who has duly submitted his Access
Request and does not receive from the Company the e-mail with instructions for access and participation in the EGM until 23:59 minutes
of July 1<SUP>st</SUP>, 2023, should contact the Company between at 8:00 a.m. and 6:00 p.m. on July 2<SUP>nd</SUP>, 2023, by calling 55
11 2322 5377, so that they respective instructions for accessing the Digital Platform can be sent (or provided by phone).</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify">The Company emphasizes that it will be the sole responsibility
of the shareholder to ensure the compatibility of his/her equipment with the use of the Digital Platform. BRF shall not be liable for
any operational or connection problems that shareholders may face or other situations that are not under the Company's control, such as
instability in the Internet connection or incompatibility of the Digital Platform with the shareholder's or his/her representative's equipment.
The EGM will be recorded, pursuant to Article 28, paragraph 1, item III of CVM Resolution No. 81.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify">The Company recommends that shareholders become familiar
with the use of the Digital Platform in advance, as well as ensure the compatibility of their respective electronic devices with the use
of the Digital Platform (by video and audio). The Company also recommends shareholders to access the electronic system made available
for participation in the EGM at least 30 minutes in advance of the time scheduled for the beginning of EGM, in order to allow the validation
of the access and participation of all shareholders that use it.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify">The duly registered shareholder who participates
through the electronic system provided by the Company will be considered present at the EGM (being able to exercise their respective voting
rights) and sign the respective minutes, under the terms of article 47, item III and paragraph 1, of the CVM Resolution No. 81.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify">The Company also highlights that the information
and guidelines for accessing the Digital Platform, including, but not limited to, the password, are unique and non-transferable, and the
shareholder (or its respective attorney, as the case may be) assumes fully responsible for the possession and secrecy of the information
and guidelines transmitted to it by the Company under the terms of this Manual.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.4pt"></TD><TD STYLE="width: 34.05pt"><FONT STYLE="font-size: 11pt"><B>2.1.2</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>HOLDERS OF AMERICAN DEPOSITORY RECEITPS - ADRs</B></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">ADR holders will be represented by <I>The Bank of New York
Mellon</I> at the EGM, as depositary institution, under the terms of the Deposit Agreement entered into with the Company. ADR holders
will not be allowed to participate in the EGM by means of the Digital Platform.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 34pt"><FONT STYLE="font-size: 10.5pt"><B>2.2</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B><U>PARTICIPATION BY DISTANCE VOTING FORM</U></B></FONT></TD></TR></TABLE>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">As stated in articles 26 and following of the CVM Resolution
No. 81, Company&rsquo;s shareholders may send their voting instructions, from this date, on the matters to be resolved at the EGM by completing
and sending the distance voting forms allowing them to cast their vote from distance (&ldquo;<B>Distance Voting Forms</B>&rdquo;), whose
model was made available, separately, at the Company&rsquo;s Investor Relations website (www.brf-global.com/ri, under the Corporate Governance
item) and in the websites of the Brazilian Securities and Exchange Commission (Comiss&atilde;o de Valores Mobili&aacute;rios) (www.cvm.gov.br)
and of B3 S.A. &ndash; Brasil, Bolsa, Balc&atilde;o (www.b3.com.br).</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">To do so, the Distance Voting Form should:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 34pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">be accessed to be printed and completed in advance in the item &ldquo;Corporate
Governance&rdquo; of the Company&acute;s Investor Relations website (www.brf-global.com/ri), as well as in the websites of the Brazilian
Securities and Exchange Commission (Comiss&atilde;o de Valores Mobili&aacute;rios) (www.cvm.gov.br) and of B3 S.A - Brasil, Bolsa, Balc&atilde;o
(www.b3.com.br); and </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 34pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">be received within a period of 7 (seven) days before the date of the EGM,
i.e. by June 26, 2023 (inclusive). Any Distance Voting Forms received after such date will be disregarded.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">Shareholders who choose to exercise their voting right through
the Distance Voting Form should do so through one of the options described below:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.4pt"></TD><TD STYLE="width: 34.05pt"><FONT STYLE="font-size: 11pt"><B>2.2.1</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>By filling instructions transmitted to the Company&rsquo;s bookkeeper
agent</B></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify"><U>This option is intended exclusively for shareholders holding
shares registered by Ita&uacute; Corretora de Valores S.A. (&ldquo;<B>Ita&uacute;</B>&rdquo;) and which are not deposited with a central
depositary.</U></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">The shareholder holding shares that are not deposited with
a central depository and who choose to exercise their distance voting right through service providers may transmit their voting instructions
to the bookkeeping agent for the shares issued by BRF, Ita&uacute;, subject to the rules determined by it. In this sense, Ita&uacute;
created the website Shareholder Meeting, a solution where remote voting is possible. To vote through the website, it is necessary to register
and have a digital certificate. Information on registration and step-by-step instructions for issuing the digital certificate are described
on the website: https://www.itau.com.br/investmentservices/assembleia-digital/</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">In case of doubts, shareholders should contact Ita&uacute;
and check the procedures established by it for the issuance of voting instructions via the Distance Voting Form, as well as the documents
and information required by it to exercise such power. Ita&uacute;&rsquo;s data are as follows:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Telephone
- Shareholder service: 3003-9285 (capitals and metropolitan regions) / 0800 720 9285 (other locations).</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Opening hours:
working days, from 9 am to 6 pm.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E-mail: escrituracaoacoes@itau-unibanco.com.br</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Address:
Avenida Brigadeiro Faria Lima, 3400 - 10th floor, S&atilde;o Paulo, SP.</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">Pursuant to Article 27 of CVM Resolution No. 81, the shareholder
must transmit instructions for filling out the Distance Voting Form to the bookkeeping agent up to 7 days before the date of the EGM,
that is, until June 26, 2023 (inclusive), unless a different term is established by Ita&uacute;.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-size: 11pt"><B>2.2.2</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>By filling instructions transmitted to their respective custodian agents</B></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify"><U>This option is intended exclusively for shareholders holding
shares held by B3 S.A. - Brasil, Bolsa, Balc&atilde;o (&ldquo;<B>B3</B>&rdquo;). In this case, the remote vote will be exercised by the
shareholders in accordance with the procedures adopted by their custody agents.</U></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">The shareholder holding shares deposited in the B3 Depositary
Central and who choose to exercise their right to vote at distance through service providers must transmit their voting instructions to
their respective custody agents, observing the rules determined by them, which, in turn, will forward such voting manifestations to the
B3 Depositary Central.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">To this end, shareholders must contact their custody agents
and check the procedures established by them for issuing voting instructions via the form, as well as the documents and information required
by them to exercise such power.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">Pursuant to article Article 27 of CVM Resolution No. 81,
the shareholder must transmit instructions for filling out the Distance Voting Form to his custody agents within 7 days before the date
of the EGM, that is, until the June 26, 2023 (inclusive), unless a different term, always prior to that date, is established by your custodian
agents.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-size: 11pt"><B>2.2.3</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>By sending the Distance Voting Form Directly to BRF</B></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">Instead of following the procedures described in items 2.2.1
and 2.2.2 above, shareholders may also send their Distance Voting Forms directly to the Company.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">To do so, shareholders should print the Distance Voting Form,
complete it, initial all the pages and sign it. Shareholders should then send the Distance Voting Form, duly completed, initialed and
signed, to the e-mail: acoes@brf-br.com, along with the digitalized copies of the documents described below:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">Individual shareholders</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15.65pt"></TD><TD STYLE="width: 34pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Picture I.D. of the shareholder.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">Corporate shareholders</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15.65pt"></TD><TD STYLE="width: 34pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Latest bylaws or consolidated articles of association and the corporate
documents that prove the powers of representation (i.e. minutes of the election of officers); and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15.65pt"></TD><TD STYLE="width: 34pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Picture I.D. of the legal representative(s).</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">Investment funds</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15.65pt"></TD><TD STYLE="width: 34pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">the latest consolidated version of the fund regulation;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15.65pt"></TD><TD STYLE="width: 34pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">bylaws or articles of association of its administrator or manager, as the
case may be, with the fund&acute;s voting policy and corporate documents that prove the powers of</FONT></TD></TR></TABLE>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0pt 0pt 7pt 49.65pt; text-align: justify">representation (minutes of the election of officers,
term(s) of investiture and/or power of attorney); and</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15.65pt"></TD><TD STYLE="width: 34pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">picture I.D. of the legal representative(s) of the fund administrator or
manager.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">The Company does not require the signature of the Distance
Voting Form, nor its consularization.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">The corporate and representation documents of legal entities
and investment funds drawn up in a foreign language must be translated into a sworn form, not being required their notarization and consularization.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">Within 3 (three) days of receiving these documents, the Company
will inform the shareholder, through the electronic address indicated in the Distance Voting Form, about their receipt and acceptance.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">Should the Distance Voting Form not be fully completed or
accompanied by the corroborating documents described above, it will be disregarded, and this information will be sent to the shareholders
through the electronic address indicated in the Distance Voting Form informing the shareholders of the need to rectify or resend the Distance
Voting Form or documents which accompany it (providing there is enough time), describing the procedures and periods needed to regularize
the distance voting.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">BRF stresses that :</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15.65pt"></TD><TD STYLE="width: 34pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">in case of any divergence between the Distance Voting Form received directly
by the Company and the voting instruction contained in the voting map from the bookkeeper for the same CPF (individual taxpayer number)
or CNPJ (corporate taxpayer number), the voting instructions of the bookkeeper shall prevail, in accordance with the provisions of Paragraph
2 of the article 48 of CVM Resolution No. 81;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15.65pt"></TD><TD STYLE="width: 34pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">as stated in article 44 of CVM Resolution No. 81, the B3 Depositary Central,
upon receiving the voting instructions from the shareholders through their respective custody agents, will disregard any divergent instructions
in relation to the same resolution that they have issued by the same CPF or CNPJ registration number;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15.65pt"></TD><TD STYLE="width: 34pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">once the deadline for distance voting has ended, i.e. on June 26, 2023,
the shareholder cannot change the voting instructions already sent, except at the EGM, in person or by proxy, upon explicit request to
disregard the voting instructions. sent via Distance Voting Form, before the respective subject (s) are put to a vote; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15.65pt"></TD><TD STYLE="width: 34pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">as provided for in article 49 of CVM Resolution No. 81, remote voting instructions
will normally be considered in the event of a possible postponement of the EGM or if it is necessary to perform it on second call, provided
that the eventual postponement or realization on second call do not exceed 30 (thirty) days from the date initially scheduled for its
realization on first call.</FONT></TD></TR></TABLE>


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<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt 34pt; text-align: justify; text-indent: -34pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 34pt"><FONT STYLE="font-size: 10.5pt"><B>2.3</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B><U>QUORUMS APPLICABLE TO THE EGM</U></B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-size: 11pt"><B>2.3.1</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>Installation Quorums</B></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">In accordance with article 135 of the Brazilian Corporate
Law, subject to the exceptions provided for by law, the general shareholders&acute; meeting shall be installed, on first call, with the
presence of shareholders representing at least 2/3 (two thirds) of the capital stock with voting rights; and, on second call, with the
presence of any number of shareholders.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">If the applicable quorum on first call is not reached, the
EGM will be held on second call within eight (8) days from the date of publication of the notice of the second call and will be installed
with any number of shareholders present.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-size: 11pt"><B>2.3.2</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>Deliberation Quorum</B></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">For the approval of the matters included in the EGM&rsquo;s
Agenda, a favorable vote of the absolute majority of votes present at the EGM will be necessary, not counting the blank votes, pursuant
to Article 129 of the Brazilian Corporate Law.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial,sans-serif; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 34pt"><FONT STYLE="font-size: 10.5pt"><B>2.4</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B><U>CONFLICT OF INTERESTS</U></B></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">As provided for in the Brazilian Corporate Law, the shareholder
will not be able to vote in matters that may benefit him in a particular way, or in which he has a conflicting interest with that of the
Company.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">In the event of any allegation by any of the shareholders
present about the alleged conflict of interest of the shareholder that prevents him from voting at the EGM, or, still, about the occurrence
of another legal hypothesis of voting impediment and the shareholder himself has not declared his impediment, the chairman or EGM&rsquo;s
desk secretary shall suspend the decision to hear and receive such allegation, together with any contrary statement from the shareholder
in question, before putting the matter to a vote.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">The chairman of the EGM&rsquo;s may, in the event of a possible
impediment to vote, ask the shareholder for clarification on the situation, before putting the matter to a vote.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">In line with the CVM&rsquo;s understandings, in situations
where the voting impediment is unequivocal and the shareholder does not abstain from voting, the chairman has the power to declare such
impediment, and is not allowed to prevent voting in other situations, without prejudice to the legal provisions on the eventual annulment
of the vote cast.</P>


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<TD STYLE="width: 0"></TD><TD STYLE="width: 34pt">3</TD><TD STYLE="text-align: justify">MANAGEMENT PROPOSAL FOR THE EXTRAORDINARY GENERAL SHAREHOLDERS&rsquo; MEETING TO BE HELD ON JULY 3<SUP>RD</SUP>,
2023</TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="text-align: center; font: 12pt Tahoma,sans-serif; margin-top: 0; margin-bottom: 0"><IMG SRC="brf202306016k3_001.jpg" ALT="" STYLE="height: 48pt; width: 99pt"></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>BRF S.A.</B></P>

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

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center">Corporate Taxpayer (CNPJ) 01.838.723/0001-27</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center">Commercial Register (NIRE) 42.300.034.240</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify"><B>PROPOSAL OF THE BOARD OF DIRECTORS FOR THE EXTRAORDINARY
GENERAL SHAREHOLDERS&rsquo; MEETING TO BE HELD ON JULY 3RD, 2023</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">Dear Shareholders,</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">In compliance with the provisions of the Brazilian Securities
and Exchange (&quot;<B>CVM</B>&quot;) Resolution No. 81 of March 29, 2022 (&ldquo;<B>CVM Resolution No. 81</B>&rdquo;), as amended we
present below the management proposal (&ldquo;<B>Proposal</B>&rdquo;) of BRF S.A. (&ldquo;<B>Company</B>&rdquo; or &ldquo;<B>BRF</B>&rdquo;),
containing the information and documents related to the matters to be resolved at the Extraordinary General Shareholders&rsquo; Meeting
of the Company, to be held on July 3<SUP>rd</SUP>, 2023, at 11:00 a.m. (&ldquo;<B>EGM</B>&rdquo;), exclusively under virtual format, by
means of the digital platform Chorus Call.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify"><B>(i) The increase of the authorized capital limit, from
the current one billion, three hundred and twenty-five million (1,325,000,000) common shares to one billion, eight hundred and twenty-five
million (1,825,000,000) common shares, with the consequent amendment of the caput of article 7 of the Company's bylaws (&ldquo;Company&rsquo;s
Bylaws&rdquo;) and consolidation of the Company's Bylaws; and</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify"><U>Management Proposal:</U> The Company's management proposes
to increase the limit of authorized capital from one billion, three hundred and twenty-five million (1,325,000,000) common shares to one
billion, eight hundred and twenty-five million (1,825,000,000) common shares, in relation to the common shares that may be issued in capital
increases approved by the Company's Board of Directors, considering the proximity of the current limit. This change aims to allow the
Board of Directors to approve capital increases more quickly, in order to execute the Company's business plan and its corporate purpose,
without the need for statutory reform.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">As a result of the proposal to increase the limit of authorized
capital, the caput of article 7 of the Company&rsquo;s Bylaws will be amended to state that the Company is authorized to increase its
capital stock, regardless of changes to the Company&rsquo;s Bylaws, by resolution of the Board</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">of Directors, until the number of shares into which the capital
stock is divided becomes one billion, eight hundred and twenty-five million (1,825,000,000) common shares.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">If the proposal is approved, the caput of article 7 of the
Company&rsquo;s Bylaws will take effect with the following wording:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify"><I>&ldquo;Article 7. The Company is authorized to increase
its capital stock, regardless of statutory reform, until the number of shares into which the capital stock is divided becomes one billion,
eight hundred and twenty-five million (1,825,000,000) common shares, upon resolution of the Board of Directors&rdquo;</I></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">As a result of the above, we present <U>Appendix I</U>, containing
the consolidated Company's Bylaws, highlighting the proposed changes, and <U>Appendix II</U>, detailing the origin and justifications
for the relevant changes, with an analysis of their legal and economic effects, as established in article 12 of CVM Resolution No. 81.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">If the above proposal is approved, the Company's management
proposes the approval of the consolidation of the Company's Bylaws so as to reflect, in a single document, the current wording, in accordance
with the document in Appendix I to this Proposal.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify"><B>(ii) Deletion of article 41 of the Company&rsquo;s Bylaws,
under the condition precedent to the settlement of an eventual capital increase through the issuance of new shares by the Company (&quot;Capital
Increase&quot;) with the consequent deletion of cross references and renumbering of the other articles, and consolidation of the Company&rsquo;s
Bylaws. Additionally, the waiver to the shareholders and/or investors from conducting a Tender Offer referred to in article 41 of the
Company's Bylaws, in the context of an eventual Capital Increase (regardless of whether the Capital Increase will be approved by the shareholders
or by the Company's Board of Directors).</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify"><U>Management Proposal:</U> The Company's management proposes,
under the condition precedent to the settlement of a possible Capital Increase, the exclusion of article 41 of the Company&rsquo;s Bylaws,
which deals with a statutory Tender Offer for the acquisition of a significant interest, with the consequent exclusion of cross-references
and renumbering of the other articles, and the consolidation of the Company&rsquo;s Bylaws. Additionally, the management proposes the
exemption from the requirement for any shareholder and/or investor to make the statutory Tender Offer mentioned in article 41 of the Company&rsquo;s
Bylaws in the context of a possible Capital Increase (regardless of whether this will be carried out upon approval by the shareholders
or by the Company's Board of Directors).</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">If this matter is approved by the Shareholders and the Company
carries out a Capital Increase, whether by means of a primary public offering of shares issued by the Company or a private capital increase
with the issuance of new shares, the any shareholder and/or investor who comes to hold shares issued by the Company in an amount equal
to or higher than 33.33% (thirty-three point thirty-three percent) of the total shares issued by the Company, will not have the obligation
to carry out the Tender Offer for the acquisition of a significant interest provided for in article 41 of the Company&rsquo;s Bylaws.
Furthermore, after the settlement of the referred Capital Increase, such statutory obligation shall cease to exist.</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">It is the management's understanding that, after the completion
of the Capital Increase and the effectiveness of the exclusion of article 41 of the Company&rsquo;s Bylaws, the Company may benefit from
greater flexibility to carry out corporate transactions beneficial to the Company, by eliminating the requirement to make a Tender Offer
additional to those provided for in the applicable laws and regulations, at artificially high prices, constituting an impediment to investment
in the Company's common shares, and may ultimately harm their valuation.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">Finally, it should be noted that the deletion of article
41 of the Company&rsquo;s Bylaws is one of the conditions to be met under the investment commitment sent by the investor Saudi Agricultural
and Livestock Investment Saudi Agricultural and Livestock Investment Company (&quot;<B>SALIC</B>&quot;) to the Company, under the terms
of the Material Fact disclosed by the Company on May 31, 2023.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">As a result of the above, we present <U>Apendix III</U>,
containing the consolidated Company&rsquo;s Bylaws, highlighting the proposed changes, and <U>Apendix IV</U>, detailing the origin and
justifications for the relevant changes, with an analysis of their legal and economic effects, as established in article 12 of CVM Resolution
No.81.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">The Company's management clarifies that the effective exclusion
of article 41 of the Company&rsquo;s Bylaws and and consequently of cross-references and renumbering of the other articles, as well as
the consolidation of the Company&rsquo;s Bylaws set forth in <U>Annex III</U> is conditioned to the liquidation of a Capital Increase.
Therefore, the consolidation of the Company&rsquo;s Bylaws with the adjustments proposed in this deliberation will only become effective
after the liquidation of a Capital Increase.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: center">* * *</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: justify">The Company&rsquo;s shareholders interested in accessing the information
or raising questions related to the above proposals should contact the Investor Relations area, by calling +55 (11) 2322-5377 or via e-mail:
acoes@brf-br.com. All documents pertinent to this EGM are available to shareholders on the following websites https://ri.brf-global.com/,
www.b3.com.br and www.cvm.gov.br.</P>

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

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center">Itaja&iacute; (SC), June 1<SUP>st</SUP>, 2023.</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>TABLE OF APPENDIXS</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0"><B>&nbsp;</B></P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="width: 90%; text-align: left; padding-top: 7pt; padding-bottom: 3pt; padding-left: 0cm">Appendix I <B>&ndash; Copy of the Company's Bylaws highlighting the proposed amendments in item (i) of EGM&rsquo;s Agenda, pursuant to
article 12, of CVM Reolution No. 81</B></TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 7pt; padding-bottom: 3pt">16</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; padding-top: 7pt; padding-bottom: 3pt; padding-left: 0cm"><B>Appendix II &ndash; Comparative table of the proposed amendments in item (i) of EGM&rsquo;s Agenda, with the justification for the
changes and the analysis of their legal and economic effects, according to article 12, of CVM Resolution No. 81.</B></TD>
    <TD STYLE="text-align: right; padding-top: 7pt; padding-bottom: 3pt">54</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; padding-top: 7pt; padding-bottom: 3pt; padding-left: 0cm"><B>Appendix III &ndash; Copy of the consolidated Company&rsquo;s Bylaws, containing, in highlight, the amendments in item (ii) of EGM&rsquo;s
Agenda, in accordance with article 12 of CVM Resolution No. 81.</B></TD>
    <TD STYLE="text-align: right; padding-top: 7pt; padding-bottom: 3pt">55</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial">
    <TD STYLE="text-align: left; padding-top: 7pt; padding-bottom: 3pt; padding-left: 0cm"><B>Appendix IV &ndash; Comparative table of the proposed amendments in item (i) of EGM&rsquo;s Agenda, with the justification for the
changes and the analysis of their legal and economic effects, according to article 12, of CVM Resolution No. 81.</B></TD>
    <TD STYLE="text-align: right; padding-top: 7pt; padding-bottom: 3pt">93</TD></TR>
</TABLE>
<P STYLE="font: 11pt Arial,sans-serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: center; font: 11pt Arial,sans-serif; margin-top: 0; margin-bottom: 0"><B>*&#9;*&#9;*</B></P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>BRF S.A.</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: center">Appendix I &ndash; Copy of the Company's Bylaws highlighting
the proposed amendments in item (i) of EGM&rsquo;s Agenda, pursuant to article 12, of CVM Reolution No. 81</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0.6pt 2.3pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0.6pt 2.3pt 0; text-align: center"><B>BRF S.A. </B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0.3pt 2.2pt 0; text-align: center; text-indent: -0.5pt">Publicly-Held Company</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0.3pt 2.2pt 0; text-align: center; text-indent: -0.5pt">Corporate Taxpayer (CNPJ) 01.838.723/0001-27</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0.3pt 2.2pt 0; text-align: center; text-indent: -0.5pt">Commercial Register (NIRE) 42.300.034.240</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 2.25pt 2.65pt; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Arial,sans-serif; margin-top: 0; margin-bottom: 2.3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>BYLAWS</B></TD><TD STYLE="text-align: center; padding-right: 0.55pt"></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 0.15pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.7pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="font-family: Arial,sans-serif"><B>I.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif"><B>NAME, HEAD OFFICE, TERM &#9;AND CORPORATE PURPOSE</B></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 1.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 1.</B>&#9;BRF S.A. (&ldquo;<U>Company</U>&rdquo;)
is a publicly held company, which is ruled by this Bylaws, by Law n&ordm; 6.404, of December 15, 1976, as amended (&ldquo;<U>Brazilian
Corporation Law</U>&rdquo;) and by the other applicable laws and regulations.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - With the entry of the Company into the special
listing segment referred as Novo Mercado, of B3 S.A. &ndash; Brasil, Bolsa, Balc&atilde;o (&ldquo;<U>B3</U>&rdquo;), the Company, its
shareholders, including controlling shareholders, management and members of the Fiscal Council, when installed, are subject to the provisions
of the Regulation of the Novo Mercado of B3 (&ldquo;<U>Regulation of the Novo Mercado</U>&rdquo;).</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - The provisions of the Regulation of the Novo
Mercado shall prevail over the statutory provisions, in the event of prejudice to the rights of the beneficiaries of the public offers
provided in this Bylaws.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 2</B>.&#9;The Company&acute;s head office and
venue are in the City of Itaja&iacute;, State of Santa Catarina, at Rua Jorge Tzachel, 475, Bairro Fazenda, Zip Code 88.301-600, being
able to establish branches, agencies, offices and other facilities anywhere in the national territory or abroad.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 3</B>.&#9;It constitutes main corporate purpose
of the Company the exercise of the following activities, in the national territory or abroad:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(i) the industrialization, commercialization, in retail and
wholesale, and exploration of food in general, mainly animal protein by-products and food products that use the cold chain as support
and distribution;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(ii) the industrialization and commercialization of animal
feeds, nutrients and food supplements for animals;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(iii) the provision of food services in general;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(iv) the industrialization, refining and commercialization
of vegetable oils, fats and dairy products;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(v) the exploration, conservation, storage, silage and commercialization
of grains, its derivatives and by products;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(vi) the commercialization, in the retail and wholesale,
of consumer and production goods including the commercialization of equipment and vehicles for the development of its logistical activity;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(vii) the export and the import of production and consumer
goods;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(viii) the provision of services of transportation, logistics
and distribution of cargo and food in general;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(ix) the participation in other companies, aiming the broadest
achievement of the corporate purposes;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(x) the participation in any project for the operation of
the Company&acute;s business;</P>


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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xi) manufacture by its own or on demand, commercialization,
export and import of pharmochemical products derived from animal slaughter;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xii) manufacture and commercialization of organic chemical
products derived from animal slaughter;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xiii) manufacture, distribution and export of pharmaceutical
ingredients derived from animal slaughter;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xiv) intermediation and agency services and business in
general, except real estate; and</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xv) rendering of administrative services to third parties.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Sole Paragraph - Sole Paragraph - The Company may also engage,
directly or through third parties, in the activities of support to the core business indicated in the Article <STRIKE>3&ordm;</STRIKE>
above, such as:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">ancillary activities of administrative, technical or operational
support related to the creation of conditions for the better performance of its main activities;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">transportation of cargo in general;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">storage and stocking services of products and other services
relating thereto;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">activities of promotion and reposition of its products in
the retail and in exposition points and sale to the end consumer, including the necessary support to the clients that allows the packaging
and visualization of the products;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(v)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">services of receipt and allocation of raw material to be used
in the production;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(vi)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">services of repair, maintenance and conservation of machinery
and vehicles;</FONT></TD></TR></TABLE>


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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(vii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">the promotion of activities, programs, technical assistance
and promotion that aim the national agricultural development;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(viii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">the industrialization, exploration and commercialization of
packaging of any nature;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(ix)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">the exploration and creation of animals in general;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(x)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">the commercialization of commodities in general;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(xi)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">the research and development of techniques of production and
of improvement of the genetic matrices of the Company; </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(xii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">the activities of reforestation, extraction, industrialization
and commercialization of woods;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(xiii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">the commercialization de real estates, properties, including
machinery, equipment and vehicles, of the fixed assets, to meet with the activities inserted in the corporate purpose of the Company described
in this article; and</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(xiv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">services of fuel supply for its own fleet or for third parties
service providers, specially of freight, transportation, logistics and distribution.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 4.</B>&#9;The term of duration of the Company
is undetermined.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.7pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="font-family: Arial,sans-serif"><B>II.</B></FONT></TD><TD><FONT STYLE="font-family: Arial,sans-serif"><B>CAPITAL STOCK</B></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 5.</B>&#9;The Company&acute;s capital stock is
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), fully subscribed and paid-in, 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 nominative and with no par value.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The Company may not issue preferred shares
or beneficiary parties.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - The shares issued by the Company are indivisible
and each common share entitles one vote in the deliberations of the General Shareholders&rsquo; Meetings.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 6.</B>&#9;All the shares issued by the Company
are in book-entry form and, according to deliberation of the Board of Directors, kept in deposit account, with a financial institution
authorized by Comiss&atilde;o de Valores Mobili&aacute;rios &ndash; CVM (&ldquo;CVM&rdquo;), on behalf of its holders.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Sole Paragraph. The cost of the transfer and registration,
as well as the cost of the service related to the book-entry shares, may be charged directly from the shareholder by the bookkeeping institution,
as it is defined in the agreement of the bookkeeping of shares.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 7.</B>&#9;The Company is authorized to increase
its capital stock, regardless of statutory reform, up to the number of shares in which the capital stock is divided is of <FONT STYLE="color: #2E74B5"><U>one
billion, eight hundred and twenty-five million(1,825,000,000)</U></FONT> <FONT STYLE="color: red"><STRIKE>one billion three hundred and
twenty-five million (1,325,000,000) </STRIKE></FONT>of common shares, upon deliberation of the Board of Directors.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - In the event provided in the head paragraph
of this Article, it shall be incumbent on the Board of Directors to fix the issuance price and the number of shares to be issued, as well
as the term and the conditions of payment in.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - Within the limit of the authorized capital,
the Board of Directors may, still: (i) deliberate the issuance of subscription bonus; (ii) according to the plan approved by the General
Shareholders&rsquo; Meeting, grant stock option, without the shareholders having preemptive right in the granting of the options or subscription
of the respective shares; (iii) approve the increase of the capital stock upon the capitalization of profits or reserves, with or without
bonus shares; and (iv) deliberate the issuance of debentures convertible into shares.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 8.</B>&#9;At the discretion of the Board of Directors
or of the General Shareholders&rsquo; Meeting it may be excluded or reduced the preemptive right of the shareholders, in any issuance
of shares, debentures convertible into shares and subscription bonus, whose placement is made through sale in the stock exchange, public
subscription or exchange for shares in public offer of purchase of control, as provided in the Law and in this Bylaws.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 9.&#9;</B>The failure of the shareholder in the
payment of the capital it subscribed will imply in the charge of interest of one percent (1%) per month, <I>pro rata temporis</I>, monetary</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">adjustment based on the variation of the General Market
Price Index &ndash; IGP-M, disclosed by Funda&ccedil;&atilde;o Get&uacute;lio Vargas &ndash; FGV, or another index that reflects the real
loss of the power of purchase of the currency in the period, at the discretion of the Board of Directors of the Company, in the smallest
periodicity legally admitted, and fine of ten percent (10%) on the value of the obligation, without prejudice to the other applicable
legal sanctions.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 10.</B>&#9;By deliberation of the General Shareholders&rsquo;
Meeting, by virtue of the proposal of the Board of Directors, the Company&acute;s capital stock may be increased according to events provided
in the law, being certain that in cases of capitalization of profits or reserves, it is optional the issue of new shares corresponding
to the increase, among its shareholders, <I>pro-rata</I> the number of shares they hold.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif"><B>III.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">GENERAL SHAREHOLDERS&rsquo; MEETING</FONT></B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 11</B>.&#9;The General Shareholders&rsquo; Meeting,
convened and installed according to the law and to this Bylaws, shall occur ordinarily within the first four (4) months following the
end of the fiscal year and, extraordinarily, whenever the interests and corporate subjects require deliberation of the shareholders.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 12.</B>&#9;The General Shareholders&rsquo; Meeting
shall be convened by the Board of Directors upon deliberation of the majority of its members or, still, in the events provided in this
Bylaws and in the Sole paragraph of Article 123 of the Brazilian Corporation Law.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Sole Paragraph - The Company shall make available, no later
than the date of the first publication of the call notice, to all the shareholders, the material and documents necessary for the analysis
of the matters contained in the Agenda, except the cases in which the law or the regulation in force requires its availability in a longer
term.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 13.</B>&#9;The General Shareholders&rsquo; Meeting
shall be installed, on first call, with the attendance of shareholders representing, at least, twenty five percent (25%) 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 Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The Extraordinary General Shareholders&rsquo;
Meeting that has as purpose the amendment to this Bylaws will be installed, on first call, with the attendance of shareholders</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">that represent, at least, two thirds (2/3) of the capital
stock but may be installed, on second call, with any number of shareholders present.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - Subject to the exceptions provided in the
applicable regulation, the first call of the General Shareholders&rsquo; Meeting shall be made with, at least, thirty (30) days in advance
and the second call with, at least, eight (8) days.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - The works of the General Shareholders&rsquo;
Meeting shall be presided by the Chairman of the Board of Directors or, in his absence, by the Vice President. In the cases of absence
or temporary impediment of the Chairman and of the Vice President of the Board of Directors, the General Shareholders&rsquo; Meeting shall
be presided by a Director specially appointed by the Chairman of the Board of Directors. The chairman of the board shall appoint one or
more secretaries for the General Shareholders&rsquo; Meeting.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 14.</B>&#9;The deliberations in the General Shareholders&rsquo;
Meeting, with the exception of the provisions in the law and in this Bylaws, shall be taken by absolute majority of votes of the attendees,
the votes in blank not being counted.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The General Shareholders&rsquo; Meeting may
only resolve the subjects of the agenda contained in the respective call notice, with the exceptions provided in the Brazilian Corporation
Law, being prevented the inclusion, in the agenda of the General Shareholders&rsquo; Meeting, matters named &ldquo;other subjects&rdquo;
or &ldquo;general subjects&rdquo; or equivalent expressions.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - From the works and deliberations of the General
Shareholders&rsquo; Meeting, the minutes shall be drawn up, which shall be signed by the members of the board of works of the General
Shareholders&rsquo; Meeting and by the shareholders present that represent, at least, the majority necessary for the deliberations taken.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 15.</B>&#9;For the benefit of the development
of the works of the General Shareholders&rsquo; Meetings, the shareholders or their representatives shall present, with, at least, five
(5) days in advance, besides the identity card, as the case may be: (i) a power of attorney with certification of the signature of the
grantor and/or the documents that evidence the powers of the legal representative of the shareholder; and/or (ii) relatively to the shareholders
participants of the fungible custody of book-entry shares, the statement containing the respective equity interest, issued by the financial
institution responsible for the custody.</P>


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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - Without prejudice to the provision in head
paragraph of this Article, the shareholder that attends the General Shareholders&rsquo; Meeting with the documents that evidence its status
of shareholder may participate and vote at the meeting.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two &ndash; The Company will adopt, in the inspection
of the documentation for the due representation of the shareholder, the principle of good-faith.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 16.</B>&#9;It is competence of the General Shareholders&rsquo;
Meeting, besides the other assignments provided in law and in this Bylaws:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(i) attribute bonifications in shares and decide on eventual
grouping and splitting of shares;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(ii) approve stock option plans or subscription of shares
or granting of plans of shares to the Management and employees or to the individuals who provide services to the Company, as well as to
the Management and employees or to individuals who provide services to other companies that are controlled, directly or indirectly, by
the Company;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(iii) resolve, according to the proposal presented by the
Management, the destination of the profit of the fiscal year and the distribution of dividends;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(iv) resolve on the delisting of the Company from the Novo
Mercado;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(v) establish the compensation of the Fiscal Council in the
form of the Law and this Bylaws;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(vi) approve, in accordance with the terms of the Regulation
of the Novo Mercado, the waiver of the presentation of the Public Offer of Purchase of Shares in case of delisting of the Novo Mercado;
and</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(vii) 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</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">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.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 17.</B>&#9;The General Shareholders&rsquo; Meeting
will establish annually the amount of the global annual compensation of the Management da Company, including benefits of any nature and
the representation funds, in view of their responsibilities, the time dedicated to their functions, their competence and professional
reputation and the value of their services in the market, being incumbent on the Board of Directors to establish the criteria for of the
<I>pro-rata</I> of the global compensation among the Management.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 18.</B>&#9;The General Shareholders&rsquo; Meeting
may suspend the exercise of the rights of the shareholder that does not comply with a legal or statutory obligation, ceasing the suspension
as soon as the obligation is complied with.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The shareholders that represent five percent
(5%), at least, of the capital stock, may convene the General Shareholders&rsquo; Meeting mentioned in the head paragraph of this Article
when the Board of Directors does not meet, in the term of eight (8) days, the request that they present to convene one, with the indication
of the obligation breached and the identification of the defaulting shareholder.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - It shall be incumbent on the General Shareholders&rsquo;
Meeting that approves the suspension of the rights of the shareholder to also establish, among other aspects, the scope and duration of
the suspension, observing the preventions provided in the law.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - The suspension of the rights will cease
as soon as the obligation is fulfilled, and the said shareholder shall communicate the Company its fulfillment.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif"><B>IV.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">MANAGEMENT</FONT></B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Section I &ndash; General Provisions to the Bodies of
the Management</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 19.</B>&#9;The Company&acute;s Management is carried
out by the Board of Directors and by the Board of Officers, with the respective assignments granted by law and by this Bylaws.</P>


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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The management of the Company are waived
from providing guarantee for the exercise of the function.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - The management of the Company will be invested
in their positions upon the execution of the term of investiture in the proper books, which shall also contemplate their subordination
to the arbitration clause referred in Article 47, and which shall contain the consent to all manuals, codes, regulations and internal
policies of the Company.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - It is expressly forbidden, and it shall
be null and void the act practiced by any management of the Company, that involves it in obligations related to business and operations
alien from the corporate purpose, without prejudice of the civil or criminal responsibility, as the case may be, to which the violator
of this disposition will be subject.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Four - The term of office of the management of
the Company will be extended until the investiture of their respective successors.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Section II &ndash; Board of Directors</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 20.</B>&#9;The Board of Directors is composed
by, at least, nine (9) and, up to, eleven (11) effective members, all elected and dismissible by the General Shareholders&rsquo; Meeting,
with unified term of office of two (2) years, reelection being allowed.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - Of the members of the Board of Directors,
at least, two (2) or twenty percent (20%), whichever is higher, shall be Independent Directors, according to the criteria and rules provided
in the Regulation of the Novo Mercado.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - When, due to the calculation of the percentage
referred in the paragraph above, the result generates a fractional number, the Company shall proceed to the rounding of the number to
the one immediately above.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three. The characterization of the those appointed
to the Board of Directors as Independent Directors shall be deliberated at the General Shareholders&rsquo; Meeting that elects</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">them, which can base its decision: (i) on the declaration,
forwarded by the one appointed as Independent Director to the Board of Directors, attesting its compliance with the criteria of independence
established in the Regulation of the Novo Mercado, contemplating the respective justification, if verified any of the situations provided
in &sect; 2 of article 16 of the referred Regulation of the Novo Mercado; and (ii) the manifestation of the Board of Directors, inserted
in the management proposal to the General Shareholders&rsquo; Meeting for the election of the Management, as to the compliance or not
of the candidate with the criteria of independence.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Four - The procedure provided in Paragraph Three
above is not applied to the appointments of candidates to members of the Board of Directors that do not meet the time in advance necessary
for inclusion of candidates in the distance voting form, as provided in the regulation issued by CVM on distance voting.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Five - The Board of Directors shall assess and
disclose annually who are the Independent Directors, as well as to appoint and justify any circumstances that may jeopardize their independence.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Six - As to the election of the members of the
Board of Directors, the General Shareholders&rsquo; Meeting shall appoint a Chairman and a Vice President, the Vice President shall substitute
the Chairman in his absences or impediments, as well as in case of vacancy.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Seven - Whenever the General Shareholders&rsquo;
Meeting is convened to resolve on the election of the Board of Directors, the members of such body shall approve a proposal of full slate
of candidates for the vacancies in the Board of Directors, including appointment for the positions of Chairman and Vice President of the
Board of Directors, which shall be submitted to the approval of the General Shareholders&rsquo; Meeting.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Eight - If any shareholder wants to appoint one
or more candidates to compose the Board of Directors that do not integrate the slate proposed as provided in Paragraph Seven of this article,
such shareholder shall notify the Company proposing another slate to run for the positions at the Board of Directors of the Company, in
writing and preferably with at least five (5) days in advance of the date scheduled for the General Shareholders&rsquo; Meeting, informing
the name, the qualification and the complete professional resum&eacute; of the candidate(s), being incumbent n the Company to provide
its immediate disclosure, by means of a Notice to the Shareholders through the electronic system available at the website of CVM. The
Company</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">will not accept the registration of any slate, nor the
exercise of the voting right in the election of the members of the Board of Directors, in circumstances that configure violation to the
dispositions of the applicable regulation.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Nine - It is forbidden the presentation of more
than one slate by the same shareholder. However, one individual may be part of two or more slates, including the one proposed in the terms
of Paragraph Eight above.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Ten - If it receives written request of adoption
of the procedure of multiple voting, in the form of Article 141, Paragraph One of the Brazilian Corporation Law, the Company shall disclose
the request and content of such request, immediately, by means of a Notice to the Shareholders through the electronic system available
at the website of CVM or in the form defined by the law or by CVM.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Eleven - If the election of the Board of Directors
occurs by means of the procedure of multiple voting, each member of the slates presented in the form of this Article will be considered
a candidate for the position of director.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Twelve - Whenever the election occurs by the procedure
of multiple voting, the dismissal of any member of the Board of Directors by the General Shareholders&rsquo; Meeting will imply in the
dismissal of all the other members, proceeding to a new election.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Thirteen - In the events of vacancy of positions
of effective members of the Board of Directors, the remaining members shall appoint a substitute who will fill in the position until the
next General Shareholders&rsquo; Meeting, occasion on which it will be elected a new director to complete the term of office. In case
of simultaneous vacancies above one third (1/3) of its members, a General Shareholders&rsquo; Meeting will be convened, within thirty
(30) days of this event, for the election of the substitutes, whose term of office will coincide with the term of office of the other
directors.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Fourteen &ndash; The members of the Board of Directors
shall have impeccable reputation, not being able, except as approved at the General Shareholders&rsquo; Meeting, to be elected those that
(i) occupy positions in companies that may be considered as competitors of the Company; or (ii) have or represent conflicting interest
with the Company. If, after the election of the member of the Board of Directors any fact that configures event of impediment</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">for the holding of the position of director, provided in
the Brazilian Corporation Law or in this paragraph, the member who is subject to the impediment undertakes to immediately present his
resignation to the Chairman of the Board of Directors.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Subsection II.1 &ndash; Meetings and Substitutions </B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 21.</B>&#9;The Board of Directors shall meet,
ordinarily, <STRIKE>once per month</STRIKE> at least 8 (eight) times a year and, extraordinarily, whenever convened by its Chairman or
by the majority of its members, drawing up minutes of these meetings in the proper book.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The call for the meetings of the Board of
Directors will be given, in writing, by means of a letter, telegram, e-mail or other form that allows the proof of receipt of the call
by the recipient, and shall contain, besides the place, date and time of the meeting, the agenda.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - The meetings of the Board of Directors shall
be convened with, at least, five (5) business days in advance. On the same call date of the meeting, the material and documents necessary
to the consideration of the issues of the agenda of the meeting of the Board of Directors shall be made available to the directors.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - Regardless of the formalities of the call,
it will be considered regular the meeting at which all the members of the Board of Directors are present.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Four - The meetings of the Board of Directors shall
be installed, on first call, with the presence of, at least, two thirds (2/3) of its members. On second call, which shall be object of
a new communication to the directors in the form of Paragraph One of this Article, sent immediately after the date established for the
first call, the meeting will be installed with the presence of the simple majority of the directors.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Five - If necessary, the holding of meetings of
the Board of Directors or the participation of the directors at the meetings of the Board of Directors may be carried out by telephone,
videoconference, electronic vote, or other means of communication that may ensure the effective participation and the authenticity of
the vote. In this circumstance, the</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">director shall be considered present at the meeting, and
the vote will be considered valid for all legal purposes and incorporated into the minutes of the referred meeting.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Six - No member of the Board of Directors may have
access to information, participate in deliberations and discussions of the Board of Directors or of any management bodies, exercise the
vote or, in any form, intervene in the subjects in which he is, directly or indirectly, in a situation of conflicting interest with the
interests of the Company, in terms of the Law.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Seven - The deliberations of the Board of Directors
shall be taken by the majority of the votes of those present, being incumbent on the Chairman of the Board of Directors the casting vote
in the cases of a draw.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Eight - The minutes of the meetings of the Board
of Directors shall be worded clearly and record the decisions taken, the people present, the dissenting votes and the vote abstentions.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 22.&#9;</B>In the event of absence or temporary
impediment, the directors may be represented at the meetings of the Board of Directors by another director appointed, in writing, who,
besides his own vote, will express the vote of the director absent or temporarily impeded.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - In the event of absence or temporary impediment
of the Chairman of the Board, his functions shall be exercised, on a temporary basis, by the Vice President.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - In the event of absence or temporary impediment
do Vice President, will be incumbent on the Chairman to appoint, among the other members of the Board of Directors, the substitute.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Subsection II.2 - Competence</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 23.</B>&#9;It is competence of the Board of Directors,
besides the other assignments provided in the law and this Bylaws:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(i) establish the general guidance of the Company&acute;s
business, considering the impacts of the Company&acute;s activities on the society and on the environment, aiming the continuity of the
Company and the creation of value in the long term;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(ii) define the values and ethical principles of the Company
and ensure the maintenance of the Company&acute;s transparency in the relationship with all the interested parties;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(iii) elect and dismiss the members of the Board of Officers
of the Company or of its controlled companies, directly and indirectly, and establish their assignments, observing the provision of this
Bylaws;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(iv) inspect the management of the members of the Board of
Officers, examine at any time the books and papers of the Company, request information on agreements executed or about to be executed
and on any other acts;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(v) convene the General Shareholders&rsquo; Meeting when
judged convenient and in the cases provided in Law;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(vi) manifest on the Management report, the accounts of the
Board of Officers and the financial statements related to each fiscal year;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(vii) distribute among the members of the Board of Directors
and of the Board of Officers the annual global compensation established by the General Shareholders&rsquo; Meeting and establish the criteria
for the participation in the profits of the employees and Management, as provided in this Bylaws;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(viii) authorize the incorporation and winding-up of controlled
companies, direct or indirectly, by the Company;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(ix) choose and dismiss the independent auditors appointed
by the Audit and Integrity Committee;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(x) propose to the General Shareholders&rsquo; Meeting the
issue of new shares of the Company above the limit of the authorized capital;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xi) except in the cases of competence of the General Shareholders&rsquo;
Meeting, in the terms of the regulation issued by CVM, deliberate (a) the purchase of shares issued by the Company for maintenance in
treasury or for use in plans approved by the General Shareholders&rsquo; Meeting; and (b) the eventual sale or cancelation of such shares;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xii) resolve the issue by the Company or by its controlled
companies, directly and indirectly, of debentures not convertible into shares, promissory notes (commercial paper) and other similar credit
titles;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xiii) resolve the issue by the Company of shares, subscription
bonus and debentures convertible into shares, within the limit of the authorized capital, establishing the amount, the conditions of payment
in and the respective subscription prices and premium, as well as if it will be ensured the preemptive right to the shareholders or reduced
the term for its exercise, as authorized by the law in force;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xiv) resolve the preparation of semiannual balance sheets
of the Company or related to shorter periods, as well as to declare interim dividends to the account of profits calculated in these balance
sheets, or to the Account of Accrued Profits or of Profits Reserve existing in the last annual or semiannual balance sheet, in the form
provided in law and/or the distribution of capital interest, as provided in Law n&ordm; 9.249, of December 26, 1995, as amended;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xv) approve the policy on the payment of dividends of the
Company;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xvi) propose to the Annual General Shareholders&rsquo; Meeting,
observing the limits established in Article 35, sole paragraph, of this Bylaws, the amounts to be paid as statutory participation of the
employees and Management in the profits of each fiscal year, as well as to define the criteria for distribution of such amounts;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xvii) authorize the practice of free reasonable acts by
the Company, for the benefit of any individual or entity, according to the Policy of Competence of the Company, to be approved by the
Board of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xviii) present proposal for approval at the Meeting of stock
option plan or plan of concession of shares to its Management or employees, or to individuals who provide services to the Company, as
well as to the Management and employees or individuals who provide services to its controlled companies, directly and indirectly, within
the limit of the authorized capital, being incumbent to the Board of Directors the Management of the referred plan, including the grant
of options and concessions of shares in the scope of such plans;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xix) authorize amendments to the trading and issue of American
Depositary Receipts &ndash; ADRs by the Company or of its controlled companies, directly and indirectly;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xx) approve its internal regulation which shall provide
for, at least, the following matters: (i) the attributions of the Chairman of the Board of Directors; (ii) the rules for the replacement
of the Chairman of the Board of Directors in case of his absence or vacancy; (iii) the measures to be adopted in situations of conflict
of interests; (iv) the definition of the term in advance sufficient for receiving the material for discussion at the meetings, with the
adequate depth; and (v) the possibility of holding, during the meetings of the Board of Directors, exclusive sessions with the external
members of the Board of Directors, without the presence of the members of the Board of Officers and other guests;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxi) constitute technical or advisory committees, of non-deliberative
character, to perform specific tasks or for generic activities of the Company&acute;s interest, in the terms and conditions defined by
the Board of Directors. The Committees may act, among others, in the following areas: (i) strategy and finance, (ii) corporate governance,
conduct and ethics, and (iii) compensation of Management and executive development;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxii) monitor the compliance of the assignments of the committees
that may be created to advise the Board of Directors, approve their respective regulations and assess the technical opinions and reports,
in the terms of the law in force and of this Bylaws;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxiii) establish mechanisms of periodic assessment of the
performance of its members, with the purpose to contribute to the improvement and the effectiveness of the governance of the Company,
being able to hire external specialists for the assessment process;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxiv) prepare and make public grounded opinion containing
favorable or contrary opinion to the acceptance of any and all corporate restructuring, capital increase and other operations</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">that results in change of control, within fifteen (15)
days from the disclosure of all the conditions of the operation that results in the change of control. This opinion shall manifest if
such operation ensures fair and equitative treatment to the shareholders of the Company;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxv) prepare and make public previously grounded opinion
containing favorable or contrary opinion to the acceptance of any and all public offer for the purchase of shares or securities convertible
into or exchangeable for shares issued by the Company, within fifteen (15) days from the publication of the notice of the public offer
of purchase of shares, or securities convertible into shares or exchangeable for share issued by the Company, in which it will manifest:
(a) on the convenience and opportunity of the public offer of purchase of shares, or securities convertible into shares or exchangeable
for share issued by the Company, as to the interest of the Company and of all of its shareholders and in relation to the price and to
the possible impacts on the liquidity of the securities held by them; (b) as to the strategic plans disclosed by the offering party in
relation to the Company; and (c) the eventual alternatives to the acceptance of the public offer of purchase of shares, or securities
convertible into shares or exchangeable for share issued by the Company, available in the market;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxvi) submit to the General Shareholders&rsquo; Meeting
proposals of amendments to the Company&acute;s Bylaws, that are related to the term of duration of the Company, corporate purpose, increases
or reductions of capital, issue of marketable securities and/or securities, exclusion of the preemptive right in the subscription of shares
and other titles and/or securities, dividends, interest on own capital, powers and assignments of the General Shareholders&rsquo; Meeting,
structure and assignments of the Board of Directors and of the Board of Officers, and respective quorums of deliberation;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxvii) approve the annual demobilization plan of the Company
proposed by the Board of Officers, as well as the purchase, assignment, transfer, sale and/or encumbrance of real estate assets of the
Company or of controlled companies or affiliates, directly or indirectly, that are not discriminated in the Demobilization Plan already
approved, according to the Policy of Competence of the Company, to be approved by the Board of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxviii) approve the proposal of split, merger, incorporation
in which the Company or controlled companies and affiliates, directly or indirectly, are part or of the Company itself, as well as the
Company&acute;s transformation or any other form of corporate restructuring;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxix) deliberate on the liquidation, dissolution, appointment
of liquidators, bankruptcy or voluntary acts of judicial or extrajudicial recovery of the Company or of the controlled company and affiliates,
directly and indirectly, as well as financial restructurings related thereto;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxx) approve the purchase, assignment, transfer, sale and/or
encumbrance of goods of the non-current assets (except real estate properties) of the Company or of the controlled companies or affiliates,
directly or indirectly, according to the Policy of Competence of the Company, to be approved by the Board of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxxi) authorize the granting of guarantees, real or fidejussory,
commercial pledge, mortgages, guarantees and<STRIKE>,</STRIKE> endorsements, as well as to contract insurance guarantees or letters of
guarantee according to the Policy of Competence of the Company, to be approved by the Board of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxxii) authorize the Board of Officers to offer products
and real estates and properties of the Company or of controlled companies or affiliates, directly or indirectly, in guarantee to the financial
institutions when contracting financing or in guarantee of judicial procedures, whenever these acts result in obligations for the Company
or for the controlled companies or affiliates, directly or indirectly, according to the Policy of Competence of the Company, to be approved
by the Board of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxxiii) approve the contracting with third parties of debt
operations of the Company or of controlled companies or affiliates, directly or indirectly, according to the Policy of Competence of the
Company, to be approved by the Board of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxxiv) approve the policy on financial risk management of
the Company, establishing the main conditions for the contracting of &ldquo;hedging&rdquo; operations (assets and liabilities), such policy
shall contain, at least, the following specifications: purpose of the &ldquo;hedge&rdquo;, risk factors, eligible instruments, limits
and spheres of competence;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxxv) approve the issue, purchase, assignment, transfer,
sale and/or encumbrance, at any title or form, by the Company or by the controlled companies or affiliates, directly or indirectly, of
equity interests and/or any securities in any companies (including waiver to the right of subscription of shares or debentures convertible
into shares of subsidiaries, controlled</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">companies or affiliates), according to the Policy of Competence
of the Company, to be approved by the Board of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxxvi) approve and define, previously, the acts to be practiced
by the Board of Officers of the Company at the General Shareholders&rsquo; Meetings and/or Shareholders&acute; Meetings of controlled
companies, affiliates or invested companies, directly or indirectly, acting as shareholder and/or partner of these companies, according
to the Policy of Competence of the Company, to be approved by the Board of Directors or that involve reputational and strategic aspects
of the Company;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxxvii) observing the provisions of article 16, item (vii)
of these Bylaws, approve the performance of operations and business of any nature with related parties, in compliance with the provision
of the Policy on Transactions with Related Parties and Other Situations of Conflict of Interests of the Company, approved by the Board
of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxxviii) approve (i) the Code of Conduct; (ii) the Securities&rsquo;
Negotiation Policy, and (iii) the Contributions&rsquo; and Donations&rsquo; Policy, which shall observe the minimum requirements established
by the Regulation of the Novo Mercado e by the Brazilian Code of Corporate Governance;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxxix) approve the annual and pluriannual integrated capital
budgets (budgets of operations, budgets of investments, and the budgets of cash flow) of the Company and of its controlled companies and
affiliates, establishment of the policy on investment and on the corporate strategy. The general annual integrated budget shall always
be approved up to the last day of the previous calendar year and shall refer to the twelve months of the following fiscal year. At any
time during the calendar year, the budget of the company shall cover a minimum period of six (6) months. The execution and performance
of the approved budget shall be reviewed monthly at the General Shareholders&rsquo; Meetings of the Board of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xl) approve the execution of any contracts or agreements
(except the contracting of debt) involving the ordinary course of the Company&acute;s activities or of the controlled companies, directly
or indirectly, including, but not limited to, services, consulting or supply agreements, according to the Policy of Competence of the
Company, to be approved by the Board of Directors, as well as to approve the contractual termination or the execution of amendment terms
to the agreements already executed that result in a new obligation of the same amount;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xli) approve the execution, amendment, termination, renewal
or cancellation of any contracts, agreements or similar arrangements involving patents, processes of production and/or technology, copyrights,
domain names, trademarks or deposited marks on behalf of the Company or of any company controlled by it or affiliate, directly or indirectly,
according to the Policy of Competence of the Company, to be approved by the Board of Directors, except: (a) if effected between the Company
and wholly-owned subsidiaries, except in cases of sale and/or final assignment, which shall be approved by the Board of Directors; and
(b) for authorization of use of trademarks by controlled companies or affiliates.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Section III &ndash; Board of Officers</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 24.</B>&#9;The Board of Officers, whose members
are elected and dismissible at any time by the Board of Directors, shall be composed by, at least, two (2) and, up to, fifteen (15) members,
elected for a period of two (2) years, reelection being allowed, being one (1) Global Chief Executive Officer and one (1) Chief Financial
and of Investor Relations Officer and the others Vice President Officers with designation and functions to be proposed to the Board of
Directors by the Global Chief Executive Officer, in the terms of Article 26 below, all being professionals who meet the parameters indicated
in Paragraphs Two and Three below.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The positions of Chairman of the Board of
Directors and of the Global Chief Executive Officer may not be occupied by the same person.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - The election of the Board of Officers shall
be made by the Board of Directors, being able to choose among the candidates pre-selected by the Global Chief Executive Officer. To this
effect, the Global Chief Executive Officer will send to the Board of Directors a copy of the &quot;resum&eacute;&quot; of the candidate
appointed, together with the terms of his hiring and all other necessary information to evidence the qualification established in Paragraph
Three of this Article. If the Board of Directors does not approve the appointments presented, new names shall be presented, by the Global
Chief Executive Officer, until they are approved by the Board of Directors.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - The Board of Officers shall be integrated
exclusively by professionals who have proven academic education and practice, acquired in courses and in the exercise of activities compatible
with the functions for which they are being appointed.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Subsection III.1 - Competence</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 25.&#9;</B>It is competence of the Board of Officers
to:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(i) authorize the opening, the closing or the amendment to
the address of branches, agencies, deposits, offices or any other facilities of the Company, in Brazil or abroad;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(ii) submit, annually, the appreciation by the Board of Directors,
the Management Report and the accounts of the Board of Officers, together with the report of the independent auditors, as well as the
proposal for the allocation of the earned profits of the previous year;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(iii) prepare and propose, to the Board of Directors, the
annual and pluriannual budgets, the strategic plans, the projects of expansion and the programs of investment programs;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(iv) approve the corporate rules that shall guide the other
approval competences and the responsibilities for the management acts necessary to the conduction of the Company&acute;s activities, defining
the limits of competence for several decision making processes, according to hierarchical levels of the Company and always observing the
spheres of competence of the Board of Directors provided in Article 23 of this Bylaws;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(v) decide, by request of the Global Chief Executive Officer,
on any subject that is not of the exclusive competence of the General Shareholders&rsquo; Meeting or of the Board of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(vi) observing the provisions of article 16, item (vii) of
these Bylaws, approve the performance of certain operations and business with Related Parties, in compliance with the provisions of the
Policy on Transactions with Related Parties and Other Situations of Conflicts of Interests of the Company;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(vii) prepare the draft, for further submission to the deliberation
of the Board of Directors (i) of the Code of Conduct; (ii) of Risk Management Policy, (iii) of the Securities&rsquo; Negotiation Policy,
(iv) of the Related Parties&rsquo; Transaction Policy, and (v) of the Contributions&rsquo; and Donations&rsquo; Policy, that shall observe
the minimum requirements established by the Regulation of the Novo Mercado and by the Brazilian Code of Corporate Governance.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 26.&#9;</B>Besides the other assignments established
in this Bylaws, it is competence on, as for example:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(i) The Global Chief Executive Officer:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 18pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif">a.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">convene and preside the meetings of the Board of Officers;</FONT></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif">b.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">represent the Board of Officers at the meetings of the Board of Directors;</FONT></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif">c.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">submit to the deliberation of the Board of Directors the proposals of the Board of
Officers related to the annual and pluriannual budgets, the strategic plans, the projects of expansion and the programs of investment
of the Company;</FONT></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif">d.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">inspect and guide the conduction of the financial, social and sustainability business
and the activities of the other Officers;</FONT></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">e &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;present
to the Board of Directors, the financial statements, the annual and pluriannual budgets and investments&rsquo; budget, the financial planning
and the cash flow; and</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">f &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;propose
to the Board of Directors positions of Officers, with or without specific designation, and the respective holders for the performance
of specific functions that judges necessary.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(ii) To the Chief Financial and of Investor Relations Officer:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif">a.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">prepare, together with the other members of the Board of Officers and under the coordination
of the Global Chief Executive Officer, the budgets to be submitted to the approval of the Board of Directors and be responsible for the
control of execution of these budgets mainly on what refers to the control of cash flow; </FONT></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif">b.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">guide the execution of the economical financial policy, supervising the economical
financial activities, according to the determinations of the Board of Directors; and</FONT></P>


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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif">c.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">organize and coordinate the system of necessary information to its performance, as
well as supervise all the controllership activities of the Company.</FONT></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">d. represent the Company before CVM and other entities
of the capital markets and financial institutions, as well as regulating bodies and stock exchanges, national and foreign, in which the
Company has securities listed, besides complying with applicable regulatory rules to the Company on what is related to the registrations
held by CVM and together with regulating bodies and stock exchanges in which the Company has securities listed and administer the policy
of relationship with investors; and</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">e. monitor the compliance, by the shareholders of
the Company, with the obligations provided in Chapter VIII of this Bylaws and report to the General Shareholders&rsquo; Meeting and/or
to the Board of Directors, when requested, its conclusions, reports and diligences.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(iii) To the others Vice President Officers, whose designation
will be given by the Board of Directors by suggestion of the Global Chief Executive Officer:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif">a.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">guide, coordinate and supervise the specific activities under their responsibility;
and </FONT></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif">b.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">execute specific charges that might be attributed by decision of the Global Chief Executive
Officer.</FONT></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Subsection III.2 &ndash; Representation of the Company</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 27.</B>&#9;The Board of Officers, within the limits
established by the Law and by this Bylaws, is vested with general management powers, that allow the practice of all the necessary acts
for the regular functioning of the Company, to achieve its corporate purposes.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 28.</B>&#9;The active and passive representation
of the Company, in or out of court, as well as the practice of all legal acts, shall be incumbent on:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">any two (2) members of the Board of Officers acting jointly;</FONT></TD></TR></TABLE>


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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify; text-indent: -35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">any member of the Board of Officers, jointly with an attorney
in fact with specific powers; or</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">two attorneys in fact with specific powers, always acting
jointly.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The Company may be represented by only one
Officer or one attorney in fact with specific powers in the practice of the following acts:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">representation of the Company at General Shareholders&rsquo;
Meetings and the partners&acute; meetings of companies in which the Company participates; </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">representation of the Company in court; or</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">practice of acts of simple administrative routine, including
before public bodies, mixed capital companies, boards of trade, Labor Justice, INSS, FGTS and the collecting banks, and others of the
same nature. </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - The acts for which this Bylaws requires previous
authorization of the Board of Directors shall only be valid once this requirement is met.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - The Board of Officers may, through two
of its members and upon competent instruments, to constitute attorneys in fact with specific powers to act on behalf of the Company, with
mandate with determined term to be established case by case, except the judicial mandates that may be granted for undetermined term. In
any case, it shall be respected the limitations and restrictions mentioned in this Article and the ones established by the Board of Directors.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Subsection III.3 &ndash; Meetings of the Board of Officers</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 29.</B>&#9;The Board of Officers will hold meetings
whenever necessary, drawing up minutes of these meetings in the proper book.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The deliberations of the Board of Officers
shall be taken by the majority of votes, being incumbent on the Global Chief Executive Officer, or on his substitute, the casting vote.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - The minimum quorum of installation of the
meetings of the Board of Officers is of two thirds (2/3) of its members.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - If necessary, it is admitted the holding
of meetings or the participation of the members of the Board of Officers, at the meetings of such board, by telephone, videoconference,
electronic vote, or other means of communication that may ensure the effective participation and the authenticity of the vote. In this
event, the member of the Board of Officers shall be considered present at the meeting, and his vote shall be considered valid for all
legal purposes and incorporated to the minutes of the referred meeting.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Four - In the absence or temporary impediments,
the members of the Board of Officers will replace each other, by appointment of the Global Chief Executive Officer. If there is vacancy,
the Board of Directors, within thirty (30) days, (i) shall appoint who shall (a) fill in the vacancy, whose term of office shall have
a coincident term with the other members of the Board of Officers or (b) cumulate the respective function or (ii) deliberate on the non-fulfillment,
temporary or permanent, of the position vacant, provided that this position is not of the Global Chief Executive Officer or Chief Financial
and Investor Relations Officer.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif"><B>V.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">FISCAL COUNCIL</FONT></B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 30.&#9;</B>The Company shall have a permanent
Fiscal Council, composed by three (3) effective members and equal number of alternates, elected by the General Shareholders&rsquo; Meeting,
which will perform its functions until the first annual General Shareholders&rsquo; Meeting that occurs after its election, reelection
being allowed, with the assignments, competence and compensation provided in the Law.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The election of the members of the Fiscal
Council shall occur by means of majority decision, being elected the three (3) candidates, and respective alternates, who receive the
higher number of votes at the General Shareholders&rsquo; Meeting, observing the provision of article 161 of the Brazilian Corporation
Law. If there is a Controlling Shareholder, it is ensured to the minority shareholders, provided they represent, jointly, ten percent
(10%)</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">or more of the shares issued by the Company, the right
to elect, separately, one (1) member and the respective alternate of the Fiscal Council of the Company.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two <B>- </B>The members of the Fiscal Council
shall be invested in their positions upon the execution of the term of investiture in the proper book, which shall contain the consent
to all manuals, codes, regulations and internal practices of the Company, and its subordination to the arbitration clause referred in
Article 47.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - The Fiscal Council will meet periodically,
in the terms of its Internal Regulation, drawing up minutes of these meetings in the proper book.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Four - The Fiscal Council shall elect its Chairman
at the first meeting after its election and shall work according to the Internal Regulation approved by the Fiscal Council itself.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 31.</B>&#9;For the full exercise of the functions
of the Fiscal Council the requirements provided in the applicable law, the provision in this Bylaws and in the Internal Regulation of
the Fiscal Council shall be observed.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - It will be applicable to the members of the
Fiscal Council the same obligations and preventions imposed by the Law and by this Bylaws to the Management of the Company.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two &ndash; In case of absence or vacancy of position
of an effective member of the Fiscal Council, the respective alternate will occupy his place. In case of vacancy of position of the effective
member and of its respective alternate, the General Shareholders&rsquo; Meeting shall be convened to proceed to the election of a member
to the position.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - Observing the requirements and obligations
contained in this Bylaws, as well as in the other applicable legal dispositions, the members of the Fiscal Council of the Company may
be elected by the Board of Directors to also integrate the Audit and Integrity Committee.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif"><B>VI.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">AUDIT AND INTEGRITY COMMITTEE</FONT></B></P>


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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 32.</B>&#9;The Company will have an Audit and
Integrity Committee in permanent functioning, comprised by, at least, three (3) and, by a maximum, five (5) members, being the majority
independent members and, at least, one (1) of its members not belong to <STRIKE>of</STRIKE> the Board of Directors, in accordance with
the requirements established in the applicable regulation, especially in CVM Instruction n&ordm; 509/11. At least one of the independent
members of the Board of Directors shall be appointed to also integrate the Audit and Integrity Committee. None of the members of the Audit
and Integrity Committee shall be a member of the Board of Officers.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 33.</B>&#9;The members of the Audit and Integrity
Committee shall be appointed by the Board of Directors for terms of office of two (2) years and will occupy their positions for, at the
most, ten (10) years, being dismissible at any time. If the member of the Committee is also a member of the Board of Directors, the term
of office will end simultaneously for both positions.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The performance of the activities of the
members of the Audit and Integrity Committee shall observe the rules provided in the Brazilian law, especially in CVM Instruction 509/11,
and in US law, including the provision of the Sarbanes&ndash;Oxley Act and the rules issued by the Securities and Exchange Commission
- SEC.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - At least one of the members of the Audit
and Integrity Committee shall have proven knowledge in the areas of corporate accounting, of audit and finance, that characterizes him
as financial specialist. The same member of the Audit and Integrity Committee may accumulate the characteristics of financial expert and
independent advisor.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three <B>- </B>The Audit and Integrity Committee
shall have the following assignments: 1) give opinion on the hiring and dismissal of the independent external auditor for the conduction
of the independent external audit or for any other type of service; 2) supervise the activities: (a) of the independent auditors, such
as to evaluate their independence, the quality and adequacy of the services provided to the needs of the Company; (b) of the area of internal
controls of the Company; (c) of the area of internal audit of the Company; and (d) of the area of preparation of the financial statements
of the Company; 3) monitor the quality and integrity: (a) of the mechanisms of internal controls; (b) of the quarterly information, interim
statements and financial statements of the Company; and (c) of the information and measurement disclosed based on adjusted accounting
data and on non-accounting data that add non-provided elements to the structure of the usual reports of the financial statements; 4) evaluate
and monitor the risk exposures of the Company, being able, inclusively, to require detailed information on policies and procedures related
with: (a) the management compensation; (b)</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">the use of the Company&acute;s assets; and (c) the expenses
incurred on behalf of the Company; 5) evaluate and monitor, jointly with the management and the area of internal audit, the adequacy of
the transactions with related parties entered into by the Company and its respective evidences; 6) evaluate, monitor and recommend to
the management the correction or the improvement of the internal policies of the Company, including the Policy on Transactions with Related
Parties; 7) evaluate the practices of integrity (<I>compliance) </I>of the Company and propose improvements; 8) evaluate and discuss the
work annual plan for the independent external auditor and forward it for the approval of the Board of Directors; and 9) prepare annual
summarized report, to be presented together with the financial statements, containing the description of: (a) its activities, the results
and conclusions reached and the recommendations presented; and (b) any situations in which there is significant discrepancy among the
Company&acute;s management, the independent external auditors and the Audit and Integrity Committee in relation to the financial statements
of the Company.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Four - The Audit and Integrity Committee will be
an advisory body directly bound to the Board of Directors.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Five &ndash; When selecting the members of the
Audit and Integrity Committee, the Board of Directors shall appoint the one who will exercise the role of Coordinator of the body.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Six - The Audit and Integrity Committee shall meet,
at least, every two (2) months, and whenever necessary, so that the accounting information of the Company is always being evaluated by
the committee before its disclosure.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Seven- The internal regulation of the Audit and
Integrity Committee shall be approved by the Board of Directors and will describe in detail its functions, as well as its operational
procedures. The internal regulation of the Audit and Integrity Committee must also define the functions and activities of the body's Coordinator.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Eight- The Audit and Integrity Committee shall
have means to receive, hold and respond to claims, including confidential, internal and external to the Company, in relation to the non-compliance
with the legal and regulatory requirements applicable to the Company, in addition to internal regulations and codes, including with provision
of specific procedures for the protection of the confidentiality of the information and of its provider.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Nine- 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,
annual or by project, to conduct or determine the performance of consultations, assessments and investigations within the scope of its
activities, including the hiring and use of external and independent specialists, to compensate these specialists and pay the ordinary
administrative expenses of the Audit and Integrity Committee.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Ten- The meetings of the Audit and Integrity Committee
shall be recorded in minutes, considering that the decisions/recommendations shall be taken with favorable votes of 2/3 (two thirds) of
its members.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Eleven- The coordinator of the Audit and Integrity
Committee, together with other members when necessary or convenient, shall: (i) meet with the Board of Directors and with the Fiscal Council;
and (ii) be present at the Annual General Shareholders&rsquo; Meeting and, when necessary, at the Extraordinary General Shareholders&rsquo;
Meetings of the Company.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Twelve - The members of the Audit and Integrity
Committee shall have the same fiduciary duties and responsibilities applicable to the Management of the Company, in accordance with the
terms of the Brazilian Corporation Law.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif"><B>VII.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">FISCAL YEAR AND RESULTS</FONT></B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 34.&#9;</B>The fiscal year coincides with the
calendar year and, in on its termination, the Company shall prepare the financial statements provided in the Brazilian Corporation Law
for purposes of disclosure and assessment by the General Shareholders&rsquo; Meeting.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 35.</B>&#9;From the result of each fiscal year,
it shall be deducted, before any participation, the eventual accrued losses and the provision for Income Tax.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Sole Paragraph - After the referred deductions in this Article
are made, the General Shareholders&rsquo; Meeting may assign to the employees and Management, successively and in this order:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">the statutory participation of the employees of the Company
up to the maximum limit of ten percent (10%) of the remaining profits; and</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">the statutory participation of the Management, up to the maximum
legal limit.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 36.</B>&#9;After the participations mentioned
in Article 35 above are deducted, the net profit of the year shall have successively the following destination:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">five percent (5%) for the constitution of the Legal Reserve
until it reaches twenty percent (20%) of the Capital Stock;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">twenty five percent (25%) as minimum mandatory dividend, adjusted
according to Article 202 of the Brazilian Corporation Law, to be attributed to all the shares of the Company;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">twenty percent (20%) for the constitution of reserves for
capital increase, until reaches the limit of twenty percent (20%) of the Capital Stock;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">until fifty percent (50%) for the constitution of the reserve
for expansion, until it reaches eighty percent (80%) of the Capital Stock, with the purpose to ensure investments in fixed assets, or
increases in working capital, including by means of amortization of the Company&acute;s debts, regardless of the withholding of profit
related 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 the operations of redemption, reimbursement or purchase of shares, authorized by the Law; and (iv)
in the incorporation to the Capital Stock, including upon new bonus shares.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 37.</B>&#9;Except where otherwise provided at
the General Shareholders&rsquo; Meeting, the payment of the dividends and of interest on own capital shall be made within sixty (60) days
from the date of the respective deliberation.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - By deliberation of the Board of Directors,
in the terms of Article 23 above, the Company can prepare semi-annual balance sheets or related to shorter periods, as well as declare
dividends and/or interest on own capital on the account of profits earned in these balance sheets, of accrued profits or of reserves of
profit existing in the last annual or semi-annual balance sheet, as provided in the Law.</P>


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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two &ndash; The interim dividends and the interest
on own capital declared in each fiscal year may be attributed to the mandatory dividend of the fiscal year.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 38.</B>&#9;The dividends not received or unclaimed
shall prescribe within the term of three (3) years, counting from the date on which they were made available to the shareholder, and shall
revert to the Company.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif"><B>VIII.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">SALE OF SHAREHOLDING CONTROL, OF DEREGISTRATION AS PUBLICLY HELD COMPANY AND DELISTING
FROM THE NOVO MERCADO</FONT></B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 39.</B>&#9;The sale of the control of the Company,
directly or indirectly, both by means of a single operation, as by means of successive operations, shall be contracted under the condition
precedent or subsequent, that the purchaser of the control undertakes to present a public offer for the purchase of the shares having
as object the shares issued by the Company held by the other shareholders (&ldquo;<U>OPA</U>&rdquo;), observing the conditions and terms
provided in the law and regulation in force and in the Regulation of the Novo Mercado, as to ensure them equal treatment to the one given
to the seller.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - For purposes of this Bylaws, it is understood
as control and its related terms the power effectively used by shareholder to direct the corporate activities and to guide the functioning
of the company&acute;s bodies, whether directly or indirectly, in fact or by law, regardless of the equity interest held the shareholder.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - If the purchase of the control also subjects
the purchaser of the control to perform an OPA required by Article 41 of this Bylaws, the purchase price at the OPA will be the higher
between the prices determined in compliance with this Article 39 and Article 41, Paragraph Three of this Bylaws.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - In case of indirect sale of control, the
purchaser shall disclose the value attributed to the Company for the purposes of defining the price of the OPA, as well as to disclose
the justified evidence of this value.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Four - The OPA shall observe the conditions and
the terms provided in the law, the regulation in force and in the Regulation of the Novo Mercado.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 40. </B>After an operation of sale of control
of the Company and its subsequent OPA, the purchaser of the control, whenever necessary, shall take the appropriate measures to restore
the minimum percentage of outstanding shares provided in the Regulation of the Novo Mercado, within the eighteen (18) months following
the purchase of the power of control.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 41. </B>Any Purchasing Shareholder, who purchases
or becomes holder of shares issued by the Company, in amount equal to or higher than thirty three point thirty three percent (33.33%)
of the total shares issued by the Company shall (i) immediately disclose such information by means of Material Fact Notice, as provided
in the regulation issued by CVM; and (ii) in the maximum period of thirty (30) days counting from the date of the purchase or of the event
that resulted in the ownership of shares in amount equal to or higher than thirty three point thirty three percent (33.33%) of the total
shares issued by the Company, present or request registration of, as the case may be, an OPA of the totality of the shares issued by the
Company, observing the provision of the applicable regulation of CVM, the regulations of B3 and the terms of this Article.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - For purposes of this Bylaws, (i) &ldquo;Purchasing
Shareholder&rdquo; means any person, including, without limitation, any individual or legal entity, investment fund, condominium, securities
portfolio, universality of rights, or other form of organization, resident, with domicile or with head office in Brazil or abroad, or
Group of Shareholders, that purchases 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, whether directly or by means of controlled companies, controlling companies or
under common control; or (b) among which there is a control relationship; or (c) under common control.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - The OPA shall be (i) directed indistinctly
to all the shareholders of the Company, (ii) effected through an auction to be held at B3, (iii) presented by the price determined in
accordance with Paragraph Three of this Article, and (iv) paid in cash, in national currency, against the purchase within the OPA of the
shares issued by the Company.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - The purchase price at the OPA of each share
issued by the Company may not be lower than the highest value between (i) one hundred and forty percent (140%) of the average unit price
of the shares issued by the Company during the last one hundred and</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">twenty (120) days of the previous trading sessions to the
date in which it becomes mandatory the performance of the OPA, at the stock exchange in which there is the highest volume of trading of
shares issued by the Company; and (ii) one hundred and forty percent (140%) of the average unit price of the shares issued by the Company
during the last thirty (30) days of the previous trading sessions to the date in which it becomes mandatory the performance of the OPA,
at the stock exchange in which there is the highest volume of trading of shares issued by the Company.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Four - The performance of the OPA mentioned in
the head paragraph of this Article will not exclude the possibility of another shareholder of the Company, or, as the case may be, the
Company itself, to formulate a competing OPA, in the terms of the applicable regulation.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Five - The Purchasing Shareholder will be obliged
to attend eventual requests or to meet the requirements of CVM, formulated based on the applicable law, related to the OPA, within the
maximum terms provided in the applicable regulation.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Six - If the Purchasing Shareholder does not comply
with the obligations imposed by this Article, including on what refers to the compliance of the maximum terms (i) for the performance
or request of registration of the or (ii) for compliance or possible requests or requirements from CVM, the Board of Directors of the
Company shall convene an Extraordinary General Shareholders&rsquo; Meeting, in which the Purchasing Shareholder will not be able to vote,
to deliberate on the suspension of the exercise of the rights of the Purchasing Shareholder that did not comply with any obligation imposed
in this Article, as provided in Article 120 of the Brazilian Corporation Law, without prejudice to the responsibility of the Purchasing
Shareholder for losses and damages caused to the other shareholders as a result of non-compliance to the obligations imposed by this Article.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Seven - Any Purchasing Shareholder who purchases
or becomes holder of other rights, including usufruct or trust, over the shares issued by the Company in amount equal to or higher than
thirty three point thirty three percent (33.33%) of the total shares issued by the Company, will be equally obliged to, in up to thirty
(30) days counted from the date of such purchase or from the event that resulted in the ownership of such rights over shares in amount
equal to or higher than thirty three point thirty three percent (33.33%) of the total shares issued by the Company, to present or request
the registration, as the case may be, of an OPA, in the terms described in this Article.</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Eight - The obligations contained in Article 254-A
of the Brazilian Corporation Law and in 0 of this Bylaws do not exclude the compliance, by the Purchasing Shareholder, with the obligations
contained in this Article, except as provided in Article 45 and in Article 46 of this Bylaws.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Nine - The provision of this Article is not applicable
if a person becomes holder of shares issued by the Company in amount higher than thirty three point thirty three percent (33.33%) of the
total of the shares issued as a result: (i) of legal succession, under the conditions that the shareholder disposes the excess of shares
in up to sixty (60) days counted from the relevant event, (ii) of the merger of another company into the Company, (iii) of the merger
of shares of another company into the Company, or (iv) of the subscription of shares of the Company, made in a single primary issue, that
has been approved at a General Shareholders&rsquo; Meeting of the shareholders of the Company, according to the rules provided in the
applicable regulation.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Ten - For purposes of calculation of the percentage
of thirty-three-point thirty three percent (33.33%) of the total shares issued by the Company described in the head paragraph of this
Article, it will not be calculated the involuntary increases of equity interest resulting from cancelation of shares held in treasury
or of reduction of the Company&acute;s capital stock with the cancelation of shares.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Eleven - If CVM&acute;s regulation applicable to
the OPA, as provided in this Article determines the adoption of a criteria of calculation for setting the purchase price of each share
of the Company in the OPA that results in purchase price higher than the one determined in the terms of Paragraph Three of this Article,
the OPA provided in this Article shall be effected for the purchase price calculated in the terms of CVM&acute;s regulation.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 42. </B>The Company&acute;s delisting from the
Novo Mercado, either by voluntary, compulsory act or by virtue of corporate restructuring, shall observe the rules contained in the Regulation
of the Novo Mercado.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 43. </B>Without prejudice to the provision of
the Regulation of the Novo Mercado, the voluntary delisting from the Novo Mercado shall be preceded by an OPA that observes the procedures
provided in the regulation issued by CVM on the OPA for the cancelation of registration as publicly held company and the following requirements:
(i) the price offered shall be fair, being possible, the request of new valuation of the Company in the form established</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">in the Brazilian Corporation Law; and (ii) shareholders
holding more than 1/3 of the outstanding shares shall accept the OPA or expressly agree with the delisting from the Novo Mercado without
the effective sale of the shares.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Sole Paragraph. The voluntary delisting from the Novo Mercado
may occur regardless of the performance of the OPA mentioned in this Article, in the event of waiver approved at the General Shareholders&rsquo;
Meeting, observing the rules and conditions of the Regulation of the Novo Mercado.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 44.</B> Without prejudice to the provision of
the Regulation of the Novo Mercado, the compulsory delisting from the Novo Mercado shall be preceded by an OPA that observes the procedures
provided in the regulation issued by CVM on public offers for purchase of shares for cancelation of registration of publicly held company
and the requirements established in the head paragraph of Article 43.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Sole Paragraph. If the percentage of purchase of shares that
authorizes the delisting from the Novo Mercado is not reached, after the performance of the OPA provided in the head paragraph, the shares
issued by the Company will still be negotiated in the Novo Mercado, within six (6) months following the performance of the auction of
the OPA, without prejudice of the application of eventual sanctions by B3.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 45. </B>It is optional the formulation of a single
OPA, aiming to more than one of the purposes provided in this Chapter VIII, in the Regulation of the Novo Mercado, in the corporate law
or in the regulation issued by CVM, provided it is possible to make procedures compatible with all types of OPA and there is no prejudice
for the recipients of the offer and it is obtained the authorization from CVM when required by the applicable law.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Sole Paragraph - With the exception of the OPAs destined
to the delisting from the Novo Mercado and/or to the cancelation of registration of publicly held company, the performance of a unified
OPA may only occur by a shareholder of the Company who holds an amount equal or higher than thirty three point thirty three percent (33.33%)
of the total shares issued by the Company, observing the provision of head paragraph of Article 41 as to the minimum price to be paid
per share.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 46. </B>The shareholders responsible for the performance
of the OPA provided in this Chapter VIII, in the Regulation of the Novo Mercado or in the regulation issued by CVM may ensure its effectiveness
through any shareholder or third party.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Sole Paragraph - The Company or the shareholder, as the case
may be, do not exempt itself from the obligation to present the OPA that is of his responsibility until the said OPA is concluded in compliance
with the applicable rules.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif"><B>IX.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">ARBITRAL TRIBUNAL</FONT></B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 47. </B>The Company, its shareholders, Management
and members of Fiscal Council undertake to resolve, by means of arbitration, in the Market Arbitration Chamber, in the form of its regulation,
every and all controversy that may arise between them, related to or arising from its condition as issuer, shareholder, Management or
member of the Fiscal Council, as the case may be, and, specially, of the application, validity, efficacy, interpretation, violation and
its effects, arising from the dispositions contained in Law n&ordm; 6.385/1976, in the Brazilian Corporation Law, in the rules edited
by the National Monetary Council, in the Central Bank of Brazil or by CVM, as well as in the other applicable rules to the functioning
of the capital market in general and the ones contained in the Regulation of the Novo Mercado, in the other regulations of B3 and in the
participation agreement of the Novo Mercado, as in the Arbitration Regulation of the Market Arbitration Chamber, to be conducted in compliance
with this last Regulation.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif"><B>X.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">COMPANY&acute;S LIQUIDATION</FONT></B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 48. </B>The Company will be liquidated in the
cases determined in the law, being incumbent on the General Shareholders&rsquo; Meeting to elect the liquidator or liquidators, as well
as the Fiscal Council that shall work in this period, according to the legal formalities.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif"><B>XI.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">GENERAL PROVISIONS</FONT></B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 49. </B>The Company shall observe the shareholders&acute;
agreements filed at the head office, being expressly prevented to the members of the presiding board of the works of the general meetings
or of the meetings of the Board of Directors to accept declaration of vote of any shareholder, signatory of shareholders&rsquo; agreement
duly filed at the head office or of member of the Board of Directors elected by the signatories of such agreement, that is cast in</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">disagreement with what is agreed upon in the referred agreement,
also being expressly forbidden to the Company to accept and proceed to the transfer of shares and/or to the encumbrance and/or to the
assignment of preemptive right to the subscription of shares and/or of other securities that do not respect what is provided and regulated
according to the shareholders&rsquo; agreement filed at the head office.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 0.15pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 0.15pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 0.15pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>BRF S.A.</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: center">Appendix II &ndash; Comparative table of the proposed
amendments in item (i) of EGM&rsquo;s Agenda, with the justification for the changes and the analysis of their legal and economic effects,
according to article 12, of CVM Resolution No. 81.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: #BFBFBF">
    <TD STYLE="width: 34%; border: Black 1pt solid; font: 11pt Calibri,sans-serif; padding-top: 2pt; padding-bottom: 2pt; text-align: center"><FONT STYLE="font-family: Arial,sans-serif; font-size: 10pt"><B>Current text</B></FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Calibri,sans-serif; padding-top: 2pt; padding-bottom: 2pt; text-align: center"><FONT STYLE="font-family: Arial,sans-serif; font-size: 10pt"><B>Proposed amendment</B></FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Calibri,sans-serif; padding-top: 2pt; padding-bottom: 2pt; text-align: center"><FONT STYLE="font-family: Arial,sans-serif; font-size: 10pt"><B>Justification for the changes</B></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; font: 11pt Calibri,sans-serif; padding-top: 2pt; padding-bottom: 2pt; text-align: justify"><FONT STYLE="font-family: Arial,sans-serif; font-size: 10pt"><B>Article 7</B>. The Company is authorized to increase its capital stock, regardless of statutory reform, up to the number of shares in which the capital stock is divided is of one billion three hundred and twenty-five million (1,325,000,000) of common shares, upon deliberation of the Board of Directors.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Calibri,sans-serif; padding-top: 2pt; padding-bottom: 2pt; text-align: justify"><FONT STYLE="font-family: Arial,sans-serif; font-size: 10pt"><B>Article 7</B>. The Company is authorized to increase its capital stock, regardless of statutory reform, up to the number of shares in which the capital stock is divided is <FONT STYLE="color: #2E74B5"><U>one billion, eight hundred and twenty-five million (1,825,000,000)</U></FONT> <FONT STYLE="color: red"><STRIKE>of one billion three hundred and twenty-five million (1,325,000,000)</STRIKE></FONT> of common shares, upon deliberation of the Board of Directors.</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,sans-serif; margin: 2pt 0; text-align: justify">This change aims to allow the Board of Directors to approve
    capital increases more quickly, with a view to executing the Company's business plan and its corporate purpose, regardless of an amendment
    to the bylaws.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">The proposed amendment does not have any other legal or economic
    effect.</P></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Arial,sans-serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>BRF S.A.</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: center">Appendix III &ndash; Copy of the consolidated Company&rsquo;s
Bylaws, containing, in highlight, the amendments in item (ii) of EGM&rsquo;s Agenda, in accordance with article 12 of CVM Resolution No.
81.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Arial,sans-serif; margin-top: 0; margin-bottom: 2.3pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; width: 99%"><B>BYLAWS</B></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 0.15pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.7pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="font-family: Arial,sans-serif"><B>XII.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif"><B>NAME, HEAD OFFICE, TERM &#9;AND CORPORATE PURPOSE</B></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 1.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 1.</B>&#9;BRF S.A. (&ldquo;<U>Company</U>&rdquo;)
is a publicly held company, which is ruled by this Bylaws, by Law n&ordm; 6.404, of December 15, 1976, as amended (&ldquo;<U>Brazilian
Corporation Law</U>&rdquo;) and by the other applicable laws and regulations.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - With the entry of the Company into the special
listing segment referred as Novo Mercado, of B3 S.A. &ndash; Brasil, Bolsa, Balc&atilde;o (&ldquo;<U>B3</U>&rdquo;), the Company, its
shareholders, including controlling shareholders, management and members of the Fiscal Council, when installed, are subject to the provisions
of the Regulation of the Novo Mercado of B3 (&ldquo;<U>Regulation of the Novo Mercado</U>&rdquo;).</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - The provisions of the Regulation of the Novo
Mercado shall prevail over the statutory provisions, in the event of prejudice to the rights of the beneficiaries of the public offers
provided in this Bylaws.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 2</B>.&#9;The Company&acute;s head office and
venue are in the City of Itaja&iacute;, State of Santa Catarina, at Rua Jorge Tzachel, 475, Bairro Fazenda, Zip Code 88.301-600, being
able to establish branches, agencies, offices and other facilities anywhere in the national territory or abroad.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 3</B>.&#9;It constitutes main corporate purpose
of the Company the exercise of the following activities, in the national territory or abroad:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(i) the industrialization, commercialization, in retail and
wholesale, and exploration of food in general, mainly animal protein by-products and food products that use the cold chain as support
and distribution;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(ii) the industrialization and commercialization of animal
feeds, nutrients and food supplements for animals;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(iii) the provision of food services in general;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(iv) the industrialization, refining and commercialization
of vegetable oils, fats and dairy products;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(v) the exploration, conservation, storage, silage and commercialization
of grains, its derivatives and by products;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(vi) the commercialization, in the retail and wholesale,
of consumer and production goods including the commercialization of equipment and vehicles for the development of its logistical activity;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(vii) the export and the import of production and consumer
goods;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(viii) the provision of services of transportation, logistics
and distribution of cargo and food in general;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(ix) the participation in other companies, aiming the broadest
achievement of the corporate purposes;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(x) the participation in any project for the operation of
the Company&acute;s business;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xi) manufacture by its own or on demand, commercialization,
export and import of pharmochemical products derived from animal slaughter;</P>


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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xii) manufacture and commercialization of organic chemical
products derived from animal slaughter;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xiii) manufacture, distribution and export of pharmaceutical
ingredients derived from animal slaughter;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xiv) intermediation and agency services and business in
general, except real estate; and</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xv) rendering of administrative services to third parties.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Sole Paragraph - Sole Paragraph - The Company may also engage,
directly or through third parties, in the activities of support to the core business indicated in the Article <STRIKE>3&ordm;</STRIKE>
above, such as:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(xv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">ancillary activities of administrative, technical or operational
support related to the creation of conditions for the better performance of its main activities;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(xvi)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">transportation of cargo in general;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(xvii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">storage and stocking services of products and other services
relating thereto;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(xviii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">activities of promotion and reposition of its products in
the retail and in exposition points and sale to the end consumer, including the necessary support to the clients that allows the packaging
and visualization of the products;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(xix)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">services of receipt and allocation of raw material to be used
in the production;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(xx)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">services of repair, maintenance and conservation of machinery
and vehicles;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(xxi)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">the promotion of activities, programs, technical assistance
and promotion that aim the national agricultural development;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>


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<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(xxii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">the industrialization, exploration and commercialization of
packaging of any nature;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(xxiii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">the exploration and creation of animals in general;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(xxiv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">the commercialization of commodities in general;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(xxv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">the research and development of techniques of production and
of improvement of the genetic matrices of the Company; </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(xxvi)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">the activities of reforestation, extraction, industrialization
and commercialization of woods;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(xxvii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">the commercialization de real estates, properties, including
machinery, equipment and vehicles, of the fixed assets, to meet with the activities inserted in the corporate purpose of the Company described
in this article; and</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(xxviii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">services of fuel supply for its own fleet or for third parties
service providers, specially of freight, transportation, logistics and distribution.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 4.</B>&#9;The term of duration of the Company
is undetermined.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.7pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="font-family: Arial,sans-serif"><B>XIII.</B></FONT></TD><TD><FONT STYLE="font-family: Arial,sans-serif"><B>CAPITAL STOCK</B></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 5.</B>&#9;The Company&acute;s capital stock is
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), fully subscribed and paid-in, 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 nominative and with no par value.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The Company may not issue preferred shares
or beneficiary parties.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - The shares issued by the Company are indivisible
and each common share entitles one vote in the deliberations of the General Shareholders&rsquo; Meetings.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 6.</B>&#9;All the shares issued by the Company
are in book-entry form and, according to deliberation of the Board of Directors, kept in deposit account, with a financial institution
authorized by Comiss&atilde;o de Valores Mobili&aacute;rios &ndash; CVM (&ldquo;CVM&rdquo;), on behalf of its holders.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Sole Paragraph. The cost of the transfer and registration,
as well as the cost of the service related to the book-entry shares, may be charged directly from the shareholder by the bookkeeping institution,
as it is defined in the agreement of the bookkeeping of shares.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 7.</B>&#9;The Company is authorized to increase
its capital stock, regardless of statutory reform, up to the number of shares in which the capital stock is divided is of one billion,
eight hundred and twenty-five million(1,825,000,000) of common shares, upon deliberation of the Board of Directors.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - In the event provided in the head paragraph
of this Article, it shall be incumbent on the Board of Directors to fix the issuance price and the number of shares to be issued, as well
as the term and the conditions of payment in.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - Within the limit of the authorized capital,
the Board of Directors may, still: (i) deliberate the issuance of subscription bonus; (ii) according to the plan approved by the General
Shareholders&rsquo; Meeting, grant stock option, without the shareholders having preemptive right in the granting of the options or subscription
of the respective shares; (iii) approve the increase of the capital stock upon the capitalization of profits or reserves, with or without
bonus shares; and (iv) deliberate the issuance of debentures convertible into shares.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 8.</B>&#9;At the discretion of the Board of Directors
or of the General Shareholders&rsquo; Meeting it may be excluded or reduced the preemptive right of the shareholders, in any issuance
of shares, debentures convertible into shares and subscription bonus, whose placement is made through sale in the stock exchange, public
subscription or exchange for shares in public offer of purchase of control, as provided in the Law and in this Bylaws.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 9.&#9;</B>The failure of the shareholder in the
payment of the capital it subscribed will imply in the charge of interest of one percent (1%) per month, <I>pro rata temporis</I>, monetary
adjustment based on the variation of the General Market Price Index &ndash; IGP-M, disclosed by Funda&ccedil;&atilde;o Get&uacute;lio
Vargas &ndash; FGV, or another index that reflects the real loss of the power of purchase of the currency in the period, at the discretion
of the Board of Directors of the</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Company, in the smallest periodicity legally admitted,
and fine of ten percent (10%) on the value of the obligation, without prejudice to the other applicable legal sanctions.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 10.</B>&#9;By deliberation of the General Shareholders&rsquo;
Meeting, by virtue of the proposal of the Board of Directors, the Company&acute;s capital stock may be increased according to events provided
in the law, being certain that in cases of capitalization of profits or reserves, it is optional the issue of new shares corresponding
to the increase, among its shareholders, <I>pro-rata</I> the number of shares they hold.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif"><B>XIV.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">GENERAL SHAREHOLDERS&rsquo; MEETING</FONT></B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 11</B>.&#9;The General Shareholders&rsquo; Meeting,
convened and installed according to the law and to this Bylaws, shall occur ordinarily within the first four (4) months following the
end of the fiscal year and, extraordinarily, whenever the interests and corporate subjects require deliberation of the shareholders.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 12.</B>&#9;The General Shareholders&rsquo; Meeting
shall be convened by the Board of Directors upon deliberation of the majority of its members or, still, in the events provided in this
Bylaws and in the Sole paragraph of Article 123 of the Brazilian Corporation Law.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Sole Paragraph - The Company shall make available, no later
than the date of the first publication of the call notice, to all the shareholders, the material and documents necessary for the analysis
of the matters contained in the Agenda, except the cases in which the law or the regulation in force requires its availability in a longer
term.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 13.</B>&#9;The General Shareholders&rsquo; Meeting
shall be installed, on first call, with the attendance of shareholders representing, at least, twenty five percent (25%) 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 Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The Extraordinary General Shareholders&rsquo;
Meeting that has as purpose the amendment to this Bylaws will be installed, on first call, with the attendance of shareholders that represent,
at least, two thirds (2/3) of the capital stock but may be installed, on second call, with any number of shareholders present.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - Subject to the exceptions provided in the
applicable regulation, the first call of the General Shareholders&rsquo; Meeting shall be made with, at least, thirty (30) days in advance
and the second call with, at least, eight (8) days.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - The works of the General Shareholders&rsquo;
Meeting shall be presided by the Chairman of the Board of Directors or, in his absence, by the Vice President. In the cases of absence
or temporary impediment of the Chairman and of the Vice President of the Board of Directors, the General Shareholders&rsquo; Meeting shall
be presided by a Director specially appointed by the Chairman of the Board of Directors. The chairman of the board shall appoint one or
more secretaries for the General Shareholders&rsquo; Meeting.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 14.</B>&#9;The deliberations in the General Shareholders&rsquo;
Meeting, with the exception of the provisions in the law and in this Bylaws, shall be taken by absolute majority of votes of the attendees,
the votes in blank not being counted.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The General Shareholders&rsquo; Meeting may
only resolve the subjects of the agenda contained in the respective call notice, with the exceptions provided in the Brazilian Corporation
Law, being prevented the inclusion, in the agenda of the General Shareholders&rsquo; Meeting, matters named &ldquo;other subjects&rdquo;
or &ldquo;general subjects&rdquo; or equivalent expressions.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - From the works and deliberations of the General
Shareholders&rsquo; Meeting, the minutes shall be drawn up, which shall be signed by the members of the board of works of the General
Shareholders&rsquo; Meeting and by the shareholders present that represent, at least, the majority necessary for the deliberations taken.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 15.</B>&#9;For the benefit of the development
of the works of the General Shareholders&rsquo; Meetings, the shareholders or their representatives shall present, with, at least, five
(5) days in advance, besides the identity card, as the case may be: (i) a power of attorney with certification of the signature of the
grantor and/or the documents that evidence the powers of the legal representative of the shareholder; and/or (ii) relatively to the shareholders
participants of 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 Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - Without prejudice to the provision in head
paragraph of this Article, the shareholder that attends the General Shareholders&rsquo; Meeting with the documents that evidence its status
of shareholder may participate and vote at the meeting.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two &ndash; The Company will adopt, in the inspection
of the documentation for the due representation of the shareholder, the principle of good-faith.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 16.</B>&#9;It is competence of the General Shareholders&rsquo;
Meeting, besides the other assignments provided in law and in this Bylaws:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(i) attribute bonifications in shares and decide on eventual
grouping and splitting of shares;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(ii) approve stock option plans or subscription of shares
or granting of plans of shares to the Management and employees or to the individuals who provide services to the Company, as well as to
the Management and employees or to individuals who provide services to other companies that are controlled, directly or indirectly, by
the Company;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(iii) resolve, according to the proposal presented by the
Management, the destination of the profit of the fiscal year and the distribution of dividends;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(iv) resolve on the delisting of the Company from the Novo
Mercado;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(v) establish the compensation of the Fiscal Council in the
form of the Law and this Bylaws;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(vi) approve, in accordance with the terms of the Regulation
of the Novo Mercado, the waiver of the presentation of the Public Offer of Purchase of Shares in case of delisting of the Novo Mercado;
and</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(vii) 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.</P>


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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 17.</B>&#9;The General Shareholders&rsquo; Meeting
will establish annually the amount of the global annual compensation of the Management da Company, including benefits of any nature and
the representation funds, in view of their responsibilities, the time dedicated to their functions, their competence and professional
reputation and the value of their services in the market, being incumbent on the Board of Directors to establish the criteria for of the
<I>pro-rata</I> of the global compensation among the Management.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 18.</B>&#9;The General Shareholders&rsquo; Meeting
may suspend the exercise of the rights of the shareholder that does not comply with a legal or statutory obligation, ceasing the suspension
as soon as the obligation is complied with.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The shareholders that represent five percent
(5%), at least, of the capital stock, may convene the General Shareholders&rsquo; Meeting mentioned in the head paragraph of this Article
when the Board of Directors does not meet, in the term of eight (8) days, the request that they present to convene one, with the indication
of the obligation breached and the identification of the defaulting shareholder.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - It shall be incumbent on the General Shareholders&rsquo;
Meeting that approves the suspension of the rights of the shareholder to also establish, among other aspects, the scope and duration of
the suspension, observing the preventions provided in the law.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - The suspension of the rights will cease
as soon as the obligation is fulfilled, and the said shareholder shall communicate the Company its fulfillment.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif"><B>XV.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">MANAGEMENT</FONT></B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Section I &ndash; General Provisions to the Bodies of
the Management</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 19.</B>&#9;The Company&acute;s Management is carried
out by the Board of Directors and by the Board of Officers, with the respective assignments granted by law and by this Bylaws.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The management of the Company are waived
from providing guarantee for the exercise of the function.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - The management of the Company will be invested
in their positions upon the execution of the term of investiture in the proper books, which shall also contemplate their subordination
to the arbitration clause referred in Article 47, and which shall contain the consent to all manuals, codes, regulations and internal
policies of the Company.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - It is expressly forbidden, and it shall
be null and void the act practiced by any management of the Company, that involves it in obligations related to business and operations
alien from the corporate purpose, without prejudice of the civil or criminal responsibility, as the case may be, to which the violator
of this disposition will be subject.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Four - The term of office of the management of
the Company will be extended until the investiture of their respective successors.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Section II &ndash; Board of Directors</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 20.</B>&#9;The Board of Directors is composed
by, at least, nine (9) and, up to, eleven (11) effective members, all elected and dismissible by the General Shareholders&rsquo; Meeting,
with unified term of office of two (2) years, reelection being allowed.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - Of the members of the Board of Directors,
at least, two (2) or twenty percent (20%), whichever is higher, shall be Independent Directors, according to the criteria and rules provided
in the Regulation of the Novo Mercado.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - When, due to the calculation of the percentage
referred in the paragraph above, the result generates a fractional number, the Company shall proceed to the rounding of the number to
the one immediately above.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three. The characterization of the those appointed
to the Board of Directors as Independent Directors shall be deliberated at the General Shareholders&rsquo; Meeting that elects them, which
can base its decision: (i) on the declaration, forwarded by the one appointed as</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Independent Director to the Board of Directors, attesting
its compliance with the criteria of independence established in the Regulation of the Novo Mercado, contemplating the respective justification,
if verified any of the situations provided in &sect; 2 of article 16 of the referred Regulation of the Novo Mercado; and (ii) the manifestation
of the Board of Directors, inserted in the management proposal to the General Shareholders&rsquo; Meeting for the election of the Management,
as to the compliance or not of the candidate with the criteria of independence.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Four - The procedure provided in Paragraph Three
above is not applied to the appointments of candidates to members of the Board of Directors that do not meet the time in advance necessary
for inclusion of candidates in the distance voting form, as provided in the regulation issued by CVM on distance voting.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Five - The Board of Directors shall assess and
disclose annually who are the Independent Directors, as well as to appoint and justify any circumstances that may jeopardize their independence.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Six - As to the election of the members of the
Board of Directors, the General Shareholders&rsquo; Meeting shall appoint a Chairman and a Vice President, the Vice President shall substitute
the Chairman in his absences or impediments, as well as in case of vacancy.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Seven - Whenever the General Shareholders&rsquo;
Meeting is convened to resolve on the election of the Board of Directors, the members of such body shall approve a proposal of full slate
of candidates for the vacancies in the Board of Directors, including appointment for the positions of Chairman and Vice President of the
Board of Directors, which shall be submitted to the approval of the General Shareholders&rsquo; Meeting.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Eight - If any shareholder wants to appoint one
or more candidates to compose the Board of Directors that do not integrate the slate proposed as provided in Paragraph Seven of this article,
such shareholder shall notify the Company proposing another slate to run for the positions at the Board of Directors of the Company, in
writing and preferably with at least five (5) days in advance of the date scheduled for the General Shareholders&rsquo; Meeting, informing
the name, the qualification and the complete professional resum&eacute; of the candidate(s), being incumbent n the Company to provide
its immediate disclosure, by means of a Notice to the Shareholders through the electronic system available at the website of CVM. The
Company will not accept the registration of any slate, nor the exercise of the voting right in the election</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">of the members of the Board of Directors, in circumstances
that configure violation to the dispositions of the applicable regulation.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Nine - It is forbidden the presentation of more
than one slate by the same shareholder. However, one individual may be part of two or more slates, including the one proposed in the terms
of Paragraph Eight above.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Ten - If it receives written request of adoption
of the procedure of multiple voting, in the form of Article 141, Paragraph One of the Brazilian Corporation Law, the Company shall disclose
the request and content of such request, immediately, by means of a Notice to the Shareholders through the electronic system available
at the website of CVM or in the form defined by the law or by CVM.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Eleven - If the election of the Board of Directors
occurs by means of the procedure of multiple voting, each member of the slates presented in the form of this Article will be considered
a candidate for the position of director.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Twelve - Whenever the election occurs by the procedure
of multiple voting, the dismissal of any member of the Board of Directors by the General Shareholders&rsquo; Meeting will imply in the
dismissal of all the other members, proceeding to a new election.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Thirteen - In the events of vacancy of positions
of effective members of the Board of Directors, the remaining members shall appoint a substitute who will fill in the position until the
next General Shareholders&rsquo; Meeting, occasion on which it will be elected a new director to complete the term of office. In case
of simultaneous vacancies above one third (1/3) of its members, a General Shareholders&rsquo; Meeting will be convened, within thirty
(30) days of this event, for the election of the substitutes, whose term of office will coincide with the term of office of the other
directors.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Fourteen &ndash; The members of the Board of Directors
shall have impeccable reputation, not being able, except as approved at the General Shareholders&rsquo; Meeting, to be elected those that
(i) occupy positions in companies that may be considered as competitors of the Company; or (ii) have or represent conflicting interest
with the Company. If, after the election of the member of the Board of Directors any fact that configures event of impediment for the
holding of the position of director, provided in the Brazilian Corporation Law or in this</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">paragraph, the member who is subject to the impediment
undertakes to immediately present his resignation to the Chairman of the Board of Directors.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Subsection II.1 &ndash; Meetings and Substitutions </B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 21.</B>&#9;The Board of Directors shall meet,
ordinarily, <STRIKE>once per month</STRIKE> at least 8 (eight) times a year and, extraordinarily, whenever convened by its Chairman or
by the majority of its members, drawing up minutes of these meetings in the proper book.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The call for the meetings of the Board of
Directors will be given, in writing, by means of a letter, telegram, e-mail or other form that allows the proof of receipt of the call
by the recipient, and shall contain, besides the place, date and time of the meeting, the agenda.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - The meetings of the Board of Directors shall
be convened with, at least, five (5) business days in advance. On the same call date of the meeting, the material and documents necessary
to the consideration of the issues of the agenda of the meeting of the Board of Directors shall be made available to the directors.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - Regardless of the formalities of the call,
it will be considered regular the meeting at which all the members of the Board of Directors are present.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Four - The meetings of the Board of Directors shall
be installed, on first call, with the presence of, at least, two thirds (2/3) of its members. On second call, which shall be object of
a new communication to the directors in the form of Paragraph One of this Article, sent immediately after the date established for the
first call, the meeting will be installed with the presence of the simple majority of the directors.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Five - If necessary, the holding of meetings of
the Board of Directors or the participation of the directors at the meetings of the Board of Directors may be carried out by telephone,
videoconference, electronic vote, or other means of communication that may ensure the effective participation and the authenticity of
the vote. In this circumstance, the director shall be considered present at the meeting, and the vote will be considered valid for all
legal purposes and incorporated into the minutes of the referred meeting.</P>


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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Six - No member of the Board of Directors may have
access to information, participate in deliberations and discussions of the Board of Directors or of any management bodies, exercise the
vote or, in any form, intervene in the subjects in which he is, directly or indirectly, in a situation of conflicting interest with the
interests of the Company, in terms of the Law.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Seven - The deliberations of the Board of Directors
shall be taken by the majority of the votes of those present, being incumbent on the Chairman of the Board of Directors the casting vote
in the cases of a draw.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Eight - The minutes of the meetings of the Board
of Directors shall be worded clearly and record the decisions taken, the people present, the dissenting votes and the vote abstentions.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 22.&#9;</B>In the event of absence or temporary
impediment, the directors may be represented at the meetings of the Board of Directors by another director appointed, in writing, who,
besides his own vote, will express the vote of the director absent or temporarily impeded.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - In the event of absence or temporary impediment
of the Chairman of the Board, his functions shall be exercised, on a temporary basis, by the Vice President.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - In the event of absence or temporary impediment
do Vice President, will be incumbent on the Chairman to appoint, among the other members of the Board of Directors, the substitute.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Subsection II.2 - Competence</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 23.</B>&#9;It is competence of the Board of Directors,
besides the other assignments provided in the law and this Bylaws:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(i) establish the general guidance of the Company&acute;s
business, considering the impacts of the Company&acute;s activities on the society and on the environment, aiming the continuity of the
Company and the creation of value in the long term;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(ii) define the values and ethical principles of the Company
and ensure the maintenance of the Company&acute;s transparency in the relationship with all the interested parties;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(iii) elect and dismiss the members of the Board of Officers
of the Company or of its controlled companies, directly and indirectly, and establish their assignments, observing the provision of this
Bylaws;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(iv) inspect the management of the members of the Board of
Officers, examine at any time the books and papers of the Company, request information on agreements executed or about to be executed
and on any other acts;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(v) convene the General Shareholders&rsquo; Meeting when
judged convenient and in the cases provided in Law;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(vi) manifest on the Management report, the accounts of the
Board of Officers and the financial statements related to each fiscal year;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(vii) distribute among the members of the Board of Directors
and of the Board of Officers the annual global compensation established by the General Shareholders&rsquo; Meeting and establish the criteria
for the participation in the profits of the employees and Management, as provided in this Bylaws;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(viii) authorize the incorporation and winding-up of controlled
companies, direct or indirectly, by the Company;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(ix) choose and dismiss the independent auditors appointed
by the Audit and Integrity Committee;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(x) propose to the General Shareholders&rsquo; Meeting the
issue of new shares of the Company above the limit of the authorized capital;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xi) except in the cases of competence of the General Shareholders&rsquo;
Meeting, in the terms of the regulation issued by CVM, deliberate (a) the purchase of shares issued by the Company for maintenance in
treasury or for use in plans approved by the General Shareholders&rsquo; Meeting; and (b) the eventual sale or cancelation of such shares;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xii) resolve the issue by the Company or by its controlled
companies, directly and indirectly, of debentures not convertible into shares, promissory notes (commercial paper) and other similar credit
titles;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xiii) resolve the issue by the Company of shares, subscription
bonus and debentures convertible into shares, within the limit of the authorized capital, establishing the amount, the conditions of payment
in and the respective subscription prices and premium, as well as if it will be ensured the preemptive right to the shareholders or reduced
the term for its exercise, as authorized by the law in force;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xiv) resolve the preparation of semiannual balance sheets
of the Company or related to shorter periods, as well as to declare interim dividends to the account of profits calculated in these balance
sheets, or to the Account of Accrued Profits or of Profits Reserve existing in the last annual or semiannual balance sheet, in the form
provided in law and/or the distribution of capital interest, as provided in Law n&ordm; 9.249, of December 26, 1995, as amended;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xv) approve the policy on the payment of dividends of the
Company;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xvi) propose to the Annual General Shareholders&rsquo; Meeting,
observing the limits established in Article 35, sole paragraph, of this Bylaws, the amounts to be paid as statutory participation of the
employees and Management in the profits of each fiscal year, as well as to define the criteria for distribution of such amounts;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xvii) authorize the practice of free reasonable acts by
the Company, for the benefit of any individual or entity, according to the Policy of Competence of the Company, to be approved by the
Board of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xviii) present proposal for approval at the Meeting of stock
option plan or plan of concession of shares to its Management or employees, or to individuals who provide services to the Company, as
well as to the Management and employees or individuals who provide services to its controlled companies, directly and indirectly, within
the limit of the authorized capital, being incumbent to the Board of Directors the Management of the referred plan, including the grant
of options and concessions of shares in the scope of such plans;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xix) authorize amendments to the trading and issue of American
Depositary Receipts &ndash; ADRs by the Company or of its controlled companies, directly and indirectly;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xx) approve its internal regulation which shall provide
for, at least, the following matters: (i) the attributions of the Chairman of the Board of Directors; (ii) the rules for the replacement
of the Chairman of the Board of Directors in case of his absence or vacancy; (iii) the measures to be adopted in situations of conflict
of interests; (iv) the definition of the term in advance sufficient for receiving the material for discussion at the meetings, with the
adequate depth; and (v) the possibility of holding, during the meetings of the Board of Directors, exclusive sessions with the external
members of the Board of Directors, without the presence of the members of the Board of Officers and other guests;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxi) constitute technical or advisory committees, of non-deliberative
character, to perform specific tasks or for generic activities of the Company&acute;s interest, in the terms and conditions defined by
the Board of Directors. The Committees may act, among others, in the following areas: (i) strategy and finance, (ii) corporate governance,
conduct and ethics, and (iii) compensation of Management and executive development;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxii) monitor the compliance of the assignments of the committees
that may be created to advise the Board of Directors, approve their respective regulations and assess the technical opinions and reports,
in the terms of the law in force and of this Bylaws;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxiii) establish mechanisms of periodic assessment of the
performance of its members, with the purpose to contribute to the improvement and the effectiveness of the governance of the Company,
being able to hire external specialists for the assessment process;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxiv) prepare and make public grounded opinion containing
favorable or contrary opinion to the acceptance of any and all corporate restructuring, capital increase and other operations</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">that results in change of control, within fifteen (15)
days from the disclosure of all the conditions of the operation that results in the change of control. This opinion shall manifest if
such operation ensures fair and equitative treatment to the shareholders of the Company;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxv) prepare and make public previously grounded opinion
containing favorable or contrary opinion to the acceptance of any and all public offer for the purchase of shares or securities convertible
into or exchangeable for shares issued by the Company, within fifteen (15) days from the publication of the notice of the public offer
of purchase of shares, or securities convertible into shares or exchangeable for share issued by the Company, in which it will manifest:
(a) on the convenience and opportunity of the public offer of purchase of shares, or securities convertible into shares or exchangeable
for share issued by the Company, as to the interest of the Company and of all of its shareholders and in relation to the price and to
the possible impacts on the liquidity of the securities held by them; (b) as to the strategic plans disclosed by the offering party in
relation to the Company; and (c) the eventual alternatives to the acceptance of the public offer of purchase of shares, or securities
convertible into shares or exchangeable for share issued by the Company, available in the market;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxvi) submit to the General Shareholders&rsquo; Meeting
proposals of amendments to the Company&acute;s Bylaws, that are related to the term of duration of the Company, corporate purpose, increases
or reductions of capital, issue of marketable securities and/or securities, exclusion of the preemptive right in the subscription of shares
and other titles and/or securities, dividends, interest on own capital, powers and assignments of the General Shareholders&rsquo; Meeting,
structure and assignments of the Board of Directors and of the Board of Officers, and respective quorums of deliberation;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxvii) approve the annual demobilization plan of the Company
proposed by the Board of Officers, as well as the purchase, assignment, transfer, sale and/or encumbrance of real estate assets of the
Company or of controlled companies or affiliates, directly or indirectly, that are not discriminated in the Demobilization Plan already
approved, according to the Policy of Competence of the Company, to be approved by the Board of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxviii) approve the proposal of split, merger, incorporation
in which the Company or controlled companies and affiliates, directly or indirectly, are part or of the Company itself, as well as the
Company&acute;s transformation or any other form of corporate restructuring;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxix) deliberate on the liquidation, dissolution, appointment
of liquidators, bankruptcy or voluntary acts of judicial or extrajudicial recovery of the Company or of the controlled company and affiliates,
directly and indirectly, as well as financial restructurings related thereto;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxx) approve the purchase, assignment, transfer, sale and/or
encumbrance of goods of the non-current assets (except real estate properties) of the Company or of the controlled companies or affiliates,
directly or indirectly, according to the Policy of Competence of the Company, to be approved by the Board of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxxi) authorize the granting of guarantees, real or fidejussory,
commercial pledge, mortgages, guarantees and<STRIKE>,</STRIKE> endorsements, as well as to contract insurance guarantees or letters of
guarantee according to the Policy of Competence of the Company, to be approved by the Board of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxxii) authorize the Board of Officers to offer products
and real estates and properties of the Company or of controlled companies or affiliates, directly or indirectly, in guarantee to the financial
institutions when contracting financing or in guarantee of judicial procedures, whenever these acts result in obligations for the Company
or for the controlled companies or affiliates, directly or indirectly, according to the Policy of Competence of the Company, to be approved
by the Board of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxxiii) approve the contracting with third parties of debt
operations of the Company or of controlled companies or affiliates, directly or indirectly, according to the Policy of Competence of the
Company, to be approved by the Board of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxxiv) approve the policy on financial risk management of
the Company, establishing the main conditions for the contracting of &ldquo;hedging&rdquo; operations (assets and liabilities), such policy
shall contain, at least, the following specifications: purpose of the &ldquo;hedge&rdquo;, risk factors, eligible instruments, limits
and spheres of competence;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxxv) approve the issue, purchase, assignment, transfer,
sale and/or encumbrance, at any title or form, by the Company or by the controlled companies or affiliates, directly or indirectly, of
equity interests and/or any securities in any companies (including waiver to the right of subscription of shares or debentures convertible
into shares of subsidiaries, controlled</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">companies or affiliates), according to the Policy of Competence
of the Company, to be approved by the Board of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxxvi) approve and define, previously, the acts to be practiced
by the Board of Officers of the Company at the General Shareholders&rsquo; Meetings and/or Shareholders&acute; Meetings of controlled
companies, affiliates or invested companies, directly or indirectly, acting as shareholder and/or partner of these companies, according
to the Policy of Competence of the Company, to be approved by the Board of Directors or that involve reputational and strategic aspects
of the Company;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxxvii) observing the provisions of article 16, item (vii)
of these Bylaws, approve the performance of operations and business of any nature with related parties, in compliance with the provision
of the Policy on Transactions with Related Parties and Other Situations of Conflict of Interests of the Company, approved by the Board
of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxxviii) approve (i) the Code of Conduct; (ii) the Securities&rsquo;
Negotiation Policy, and (iii) the Contributions&rsquo; and Donations&rsquo; Policy, which shall observe the minimum requirements established
by the Regulation of the Novo Mercado e by the Brazilian Code of Corporate Governance;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xxxix) approve the annual and pluriannual integrated capital
budgets (budgets of operations, budgets of investments, and the budgets of cash flow) of the Company and of its controlled companies and
affiliates, establishment of the policy on investment and on the corporate strategy. The general annual integrated budget shall always
be approved up to the last day of the previous calendar year and shall refer to the twelve months of the following fiscal year. At any
time during the calendar year, the budget of the company shall cover a minimum period of six (6) months. The execution and performance
of the approved budget shall be reviewed monthly at the General Shareholders&rsquo; Meetings of the Board of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xl) approve the execution of any contracts or agreements
(except the contracting of debt) involving the ordinary course of the Company&acute;s activities or of the controlled companies, directly
or indirectly, including, but not limited to, services, consulting or supply agreements, according to the Policy of Competence of the
Company, to be approved by the Board of Directors, as well as to approve the contractual termination or the execution of amendment terms
to the agreements already executed that result in a new obligation of the same amount;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(xli) approve the execution, amendment, termination, renewal
or cancellation of any contracts, agreements or similar arrangements involving patents, processes of production and/or technology, copyrights,
domain names, trademarks or deposited marks on behalf of the Company or of any company controlled by it or affiliate, directly or indirectly,
according to the Policy of Competence of the Company, to be approved by the Board of Directors, except: (a) if effected between the Company
and wholly-owned subsidiaries, except in cases of sale and/or final assignment, which shall be approved by the Board of Directors; and
(b) for authorization of use of trademarks by controlled companies or affiliates.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Section III &ndash; Board of Officers</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 24.</B>&#9;The Board of Officers, whose members
are elected and dismissible at any time by the Board of Directors, shall be composed by, at least, two (2) and, up to, fifteen (15) members,
elected for a period of two (2) years, reelection being allowed, being one (1) Global Chief Executive Officer and one (1) Chief Financial
and of Investor Relations Officer and the others Vice President Officers with designation and functions to be proposed to the Board of
Directors by the Global Chief Executive Officer, in the terms of Article 26 below, all being professionals who meet the parameters indicated
in Paragraphs Two and Three below.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The positions of Chairman of the Board of
Directors and of the Global Chief Executive Officer may not be occupied by the same person.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - The election of the Board of Officers shall
be made by the Board of Directors, being able to choose among the candidates pre-selected by the Global Chief Executive Officer. To this
effect, the Global Chief Executive Officer will send to the Board of Directors a copy of the &quot;resum&eacute;&quot; of the candidate
appointed, together with the terms of his hiring and all other necessary information to evidence the qualification established in Paragraph
Three of this Article. If the Board of Directors does not approve the appointments presented, new names shall be presented, by the Global
Chief Executive Officer, until they are approved by the Board of Directors.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - The Board of Officers shall be integrated
exclusively by professionals who have proven academic education and practice, acquired in courses and in the exercise of activities compatible
with the functions for which they are being appointed.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Subsection III.1 - Competence</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 25.&#9;</B>It is competence of the Board of Officers
to:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(i) authorize the opening, the closing or the amendment to
the address of branches, agencies, deposits, offices or any other facilities of the Company, in Brazil or abroad;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(ii) submit, annually, the appreciation by the Board of Directors,
the Management Report and the accounts of the Board of Officers, together with the report of the independent auditors, as well as the
proposal for the allocation of the earned profits of the previous year;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(iii) prepare and propose, to the Board of Directors, the
annual and pluriannual budgets, the strategic plans, the projects of expansion and the programs of investment programs;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(iv) approve the corporate rules that shall guide the other
approval competences and the responsibilities for the management acts necessary to the conduction of the Company&acute;s activities, defining
the limits of competence for several decision making processes, according to hierarchical levels of the Company and always observing the
spheres of competence of the Board of Directors provided in Article 23 of this Bylaws;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(v) decide, by request of the Global Chief Executive Officer,
on any subject that is not of the exclusive competence of the General Shareholders&rsquo; Meeting or of the Board of Directors;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(vi) observing the provisions of article 16, item (vii) of
these Bylaws, approve the performance of certain operations and business with Related Parties, in compliance with the provisions of the
Policy on Transactions with Related Parties and Other Situations of Conflicts of Interests of the Company;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(vii) prepare the draft, for further submission to the deliberation
of the Board of Directors (i) of the Code of Conduct; (ii) of Risk Management Policy, (iii) of the Securities&rsquo; Negotiation Policy,
(iv) of the Related Parties&rsquo; Transaction Policy, and (v) of the Contributions&rsquo; and Donations&rsquo; Policy, that shall observe
the minimum requirements established by the Regulation of the Novo Mercado and by the Brazilian Code of Corporate Governance.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 26.&#9;</B>Besides the other assignments established
in this Bylaws, it is competence on, as for example:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(i) The Global Chief Executive Officer:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 18pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif">e.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">convene and preside the meetings of the Board of Officers;</FONT></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif">f.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">represent the Board of Officers at the meetings of the Board of Directors;</FONT></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif">g.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">submit to the deliberation of the Board of Directors the proposals of the Board of
Officers related to the annual and pluriannual budgets, the strategic plans, the projects of expansion and the programs of investment
of the Company;</FONT></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif">h.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">inspect and guide the conduction of the financial, social and sustainability business
and the activities of the other Officers;</FONT></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">e &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;present
to the Board of Directors, the financial statements, the annual and pluriannual budgets and investments&rsquo; budget, the financial planning
and the cash flow; and</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">f &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;propose
to the Board of Directors positions of Officers, with or without specific designation, and the respective holders for the performance
of specific functions that judges necessary.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(ii) To the Chief Financial and of Investor Relations Officer:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif">d.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">prepare, together with the other members of the Board of Officers and under the coordination
of the Global Chief Executive Officer, the budgets to be submitted to the approval of the Board of Directors and be responsible for the
control of execution of these budgets mainly on what refers to the control of cash flow; </FONT></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif">e.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">guide the execution of the economical financial policy, supervising the economical
financial activities, according to the determinations of the Board of Directors; and</FONT></P>


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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif">f.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">organize and coordinate the system of necessary information to its performance, as
well as supervise all the controllership activities of the Company.</FONT></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">d. represent the Company before CVM and other entities
of the capital markets and financial institutions, as well as regulating bodies and stock exchanges, national and foreign, in which the
Company has securities listed, besides complying with applicable regulatory rules to the Company on what is related to the registrations
held by CVM and together with regulating bodies and stock exchanges in which the Company has securities listed and administer the policy
of relationship with investors; and</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">e. monitor the compliance, by the shareholders of
the Company, with the obligations provided in Chapter VIII of this Bylaws and report to the General Shareholders&rsquo; Meeting and/or
to the Board of Directors, when requested, its conclusions, reports and diligences.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">(iii) To the others Vice President Officers, whose designation
will be given by the Board of Directors by suggestion of the Global Chief Executive Officer:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif">c.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">guide, coordinate and supervise the specific activities under their responsibility;
and </FONT></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif">d.</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">execute specific charges that might be attributed by decision of the Global Chief Executive
Officer.</FONT></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Subsection III.2 &ndash; Representation of the Company</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 27.</B>&#9;The Board of Officers, within the limits
established by the Law and by this Bylaws, is vested with general management powers, that allow the practice of all the necessary acts
for the regular functioning of the Company, to achieve its corporate purposes.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 28.</B>&#9;The active and passive representation
of the Company, in or out of court, as well as the practice of all legal acts, shall be incumbent on:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 36pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">any two (2) members of the Board of Officers acting jointly;</FONT></TD></TR></TABLE>


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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify; text-indent: -35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(v)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">any member of the Board of Officers, jointly with an attorney
in fact with specific powers; or</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(vi)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">two attorneys in fact with specific powers, always acting
jointly.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The Company may be represented by only one
Officer or one attorney in fact with specific powers in the practice of the following acts:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">representation of the Company at General Shareholders&rsquo;
Meetings and the partners&acute; meetings of companies in which the Company participates; </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(v)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">representation of the Company in court; or</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(vi)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">practice of acts of simple administrative routine, including
before public bodies, mixed capital companies, boards of trade, Labor Justice, INSS, FGTS and the collecting banks, and others of the
same nature. </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - The acts for which this Bylaws requires previous
authorization of the Board of Directors shall only be valid once this requirement is met.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - The Board of Officers may, through two
of its members and upon competent instruments, to constitute attorneys in fact with specific powers to act on behalf of the Company, with
mandate with determined term to be established case by case, except the judicial mandates that may be granted for undetermined term. In
any case, it shall be respected the limitations and restrictions mentioned in this Article and the ones established by the Board of Directors.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Subsection III.3 &ndash; Meetings of the Board of Officers</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 29.</B>&#9;The Board of Officers will hold meetings
whenever necessary, drawing up minutes of these meetings in the proper book.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The deliberations of the Board of Officers
shall be taken by the majority of votes, being incumbent on the Global Chief Executive Officer, or on his substitute, the casting vote.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - The minimum quorum of installation of the
meetings of the Board of Officers is of two thirds (2/3) of its members.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - If necessary, it is admitted the holding
of meetings or the participation of the members of the Board of Officers, at the meetings of such board, by telephone, videoconference,
electronic vote, or other means of communication that may ensure the effective participation and the authenticity of the vote. In this
event, the member of the Board of Officers shall be considered present at the meeting, and his vote shall be considered valid for all
legal purposes and incorporated to the minutes of the referred meeting.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Four - In the absence or temporary impediments,
the members of the Board of Officers will replace each other, by appointment of the Global Chief Executive Officer. If there is vacancy,
the Board of Directors, within thirty (30) days, (i) shall appoint who shall (a) fill in the vacancy, whose term of office shall have
a coincident term with the other members of the Board of Officers or (b) cumulate the respective function or (ii) deliberate on the non-fulfillment,
temporary or permanent, of the position vacant, provided that this position is not of the Global Chief Executive Officer or Chief Financial
and Investor Relations Officer.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif"><B>XVI.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">FISCAL COUNCIL</FONT></B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 30.&#9;</B>The Company shall have a permanent
Fiscal Council, composed by three (3) effective members and equal number of alternates, elected by the General Shareholders&rsquo; Meeting,
which will perform its functions until the first annual General Shareholders&rsquo; Meeting that occurs after its election, reelection
being allowed, with the assignments, competence and compensation provided in the Law.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The election of the members of the Fiscal
Council shall occur by means of majority decision, being elected the three (3) candidates, and respective alternates, who receive the
higher number of votes at the General Shareholders&rsquo; Meeting, observing the provision of article 161 of the Brazilian Corporation
Law. If there is a Controlling Shareholder, it is ensured to the minority shareholders, provided they represent, jointly, ten percent
(10%)</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">or more of the shares issued by the Company, the right
to elect, separately, one (1) member and the respective alternate of the Fiscal Council of the Company.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two <B>- </B>The members of the Fiscal Council
shall be invested in their positions upon the execution of the term of investiture in the proper book, which shall contain the consent
to all manuals, codes, regulations and internal practices of the Company, and its subordination to the arbitration clause referred in
Article 47.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - The Fiscal Council will meet periodically,
in the terms of its Internal Regulation, drawing up minutes of these meetings in the proper book.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Four - The Fiscal Council shall elect its Chairman
at the first meeting after its election and shall work according to the Internal Regulation approved by the Fiscal Council itself.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 31.</B>&#9;For the full exercise of the functions
of the Fiscal Council the requirements provided in the applicable law, the provision in this Bylaws and in the Internal Regulation of
the Fiscal Council shall be observed.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - It will be applicable to the members of the
Fiscal Council the same obligations and preventions imposed by the Law and by this Bylaws to the Management of the Company.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two &ndash; In case of absence or vacancy of position
of an effective member of the Fiscal Council, the respective alternate will occupy his place. In case of vacancy of position of the effective
member and of its respective alternate, the General Shareholders&rsquo; Meeting shall be convened to proceed to the election of a member
to the position.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three - Observing the requirements and obligations
contained in this Bylaws, as well as in the other applicable legal dispositions, the members of the Fiscal Council of the Company may
be elected by the Board of Directors to also integrate the Audit and Integrity Committee.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif"><B>XVII.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">AUDIT AND INTEGRITY COMMITTEE</FONT></B></P>


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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 32.</B>&#9;The Company will have an Audit and
Integrity Committee in permanent functioning, comprised by, at least, three (3) and, by a maximum, five (5) members, being the majority
independent members and, at least, one (1) of its members not belong to <STRIKE>of</STRIKE> the Board of Directors, in accordance with
the requirements established in the applicable regulation, especially in CVM Instruction n&ordm; 509/11. At least one of the independent
members of the Board of Directors shall be appointed to also integrate the Audit and Integrity Committee. None of the members of the Audit
and Integrity Committee shall be a member of the Board of Officers.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 33.</B>&#9;The members of the Audit and Integrity
Committee shall be appointed by the Board of Directors for terms of office of two (2) years and will occupy their positions for, at the
most, ten (10) years, being dismissible at any time. If the member of the Committee is also a member of the Board of Directors, the term
of office will end simultaneously for both positions.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - The performance of the activities of the
members of the Audit and Integrity Committee shall observe the rules provided in the Brazilian law, especially in CVM Instruction 509/11,
and in US law, including the provision of the Sarbanes&ndash;Oxley Act and the rules issued by the Securities and Exchange Commission
- SEC.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two - At least one of the members of the Audit
and Integrity Committee shall have proven knowledge in the areas of corporate accounting, of audit and finance, that characterizes him
as financial specialist. The same member of the Audit and Integrity Committee may accumulate the characteristics of financial expert and
independent advisor.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Three <B>- </B>The Audit and Integrity Committee
shall have the following assignments: 1) give opinion on the hiring and dismissal of the independent external auditor for the conduction
of the independent external audit or for any other type of service; 2) supervise the activities: (a) of the independent auditors, such
as to evaluate their independence, the quality and adequacy of the services provided to the needs of the Company; (b) of the area of internal
controls of the Company; (c) of the area of internal audit of the Company; and (d) of the area of preparation of the financial statements
of the Company; 3) monitor the quality and integrity: (a) of the mechanisms of internal controls; (b) of the quarterly information, interim
statements and financial statements of the Company; and (c) of the information and measurement disclosed based on adjusted accounting
data and on non-accounting data that add non-provided elements to the structure of the usual reports of the financial statements; 4) evaluate
and monitor the risk exposures of the Company, being able, inclusively, to require detailed information on policies and procedures related
with: (a) the management compensation; (b)</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">the use of the Company&acute;s assets; and (c) the expenses
incurred on behalf of the Company; 5) evaluate and monitor, jointly with the management and the area of internal audit, the adequacy of
the transactions with related parties entered into by the Company and its respective evidences; 6) evaluate, monitor and recommend to
the management the correction or the improvement of the internal policies of the Company, including the Policy on Transactions with Related
Parties; 7) evaluate the practices of integrity (<I>compliance) </I>of the Company and propose improvements; 8) evaluate and discuss the
work annual plan for the independent external auditor and forward it for the approval of the Board of Directors; and 9) prepare annual
summarized report, to be presented together with the financial statements, containing the description of: (a) its activities, the results
and conclusions reached and the recommendations presented; and (b) any situations in which there is significant discrepancy among the
Company&acute;s management, the independent external auditors and the Audit and Integrity Committee in relation to the financial statements
of the Company.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Four - The Audit and Integrity Committee will be
an advisory body directly bound to the Board of Directors.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Five &ndash; When selecting the members of the
Audit and Integrity Committee, the Board of Directors shall appoint the one who will exercise the role of Coordinator of the body.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Six - The Audit and Integrity Committee shall meet,
at least, every two (2) months, and whenever necessary, so that the accounting information of the Company is always being evaluated by
the committee before its disclosure.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Seven- The internal regulation of the Audit and
Integrity Committee shall be approved by the Board of Directors and will describe in detail its functions, as well as its operational
procedures. The internal regulation of the Audit and Integrity Committee must also define the functions and activities of the body's Coordinator.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Eight- The Audit and Integrity Committee shall
have means to receive, hold and respond to claims, including confidential, internal and external to the Company, in relation to the non-compliance
with the legal and regulatory requirements applicable to the Company, in addition to internal regulations and codes, including with provision
of specific procedures for the protection of the confidentiality of the information and of its provider.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Nine- 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,
annual or by project, to conduct or determine the performance of consultations, assessments and investigations within the scope of its
activities, including the hiring and use of external and independent specialists, to compensate these specialists and pay the ordinary
administrative expenses of the Audit and Integrity Committee.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Ten- The meetings of the Audit and Integrity Committee
shall be recorded in minutes, considering that the decisions/recommendations shall be taken with favorable votes of 2/3 (two thirds) of
its members.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Eleven- The coordinator of the Audit and Integrity
Committee, together with other members when necessary or convenient, shall: (i) meet with the Board of Directors and with the Fiscal Council;
and (ii) be present at the Annual General Shareholders&rsquo; Meeting and, when necessary, at the Extraordinary General Shareholders&rsquo;
Meetings of the Company.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Twelve - The members of the Audit and Integrity
Committee shall have the same fiduciary duties and responsibilities applicable to the Management of the Company, in accordance with the
terms of the Brazilian Corporation Law.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif"><B>XVIII.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">FISCAL YEAR AND RESULTS</FONT></B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 34.&#9;</B>The fiscal year coincides with the
calendar year and, in on its termination, the Company shall prepare the financial statements provided in the Brazilian Corporation Law
for purposes of disclosure and assessment by the General Shareholders&rsquo; Meeting.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 35.</B>&#9;From the result of each fiscal year,
it shall be deducted, before any participation, the eventual accrued losses and the provision for Income Tax.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Sole Paragraph - After the referred deductions in this Article
are made, the General Shareholders&rsquo; Meeting may assign to the employees and Management, successively and in this order:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">the statutory participation of the employees of the Company
up to the maximum limit of ten percent (10%) of the remaining profits; and</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">the statutory participation of the Management, up to the maximum
legal limit.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 36.</B>&#9;After the participations mentioned
in Article 35 above are deducted, the net profit of the year shall have successively the following destination:</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(v)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">five percent (5%) for the constitution of the Legal Reserve
until it reaches twenty percent (20%) of the Capital Stock;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(vi)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">twenty five percent (25%) as minimum mandatory dividend, adjusted
according to Article 202 of the Brazilian Corporation Law, to be attributed to all the shares of the Company;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(vii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">twenty percent (20%) for the constitution of reserves for
capital increase, until reaches the limit of twenty percent (20%) of the Capital Stock;</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Arial,sans-serif">(viii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial,sans-serif">until fifty percent (50%) for the constitution of the reserve
for expansion, until it reaches eighty percent (80%) of the Capital Stock, with the purpose to ensure investments in fixed assets, or
increases in working capital, including by means of amortization of the Company&acute;s debts, regardless of the withholding of profit
related 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 the operations of redemption, reimbursement or purchase of shares, authorized by the Law; and (iv)
in the incorporation to the Capital Stock, including upon new bonus shares.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 37.</B>&#9;Except where otherwise provided at
the General Shareholders&rsquo; Meeting, the payment of the dividends and of interest on own capital shall be made within sixty (60) days
from the date of the respective deliberation.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - By deliberation of the Board of Directors,
in the terms of Article 23 above, the Company can prepare semi-annual balance sheets or related to shorter periods, as well as declare
dividends and/or interest on own capital on the account of profits earned in these balance sheets, of accrued profits or of reserves of
profit existing in the last annual or semi-annual balance sheet, as provided in the Law.</P>


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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph Two &ndash; The interim dividends and the interest
on own capital declared in each fiscal year may be attributed to the mandatory dividend of the fiscal year.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 38.</B>&#9;The dividends not received or unclaimed
shall prescribe within the term of three (3) years, counting from the date on which they were made available to the shareholder, and shall
revert to the Company.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif"><B>XIX.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">SALE OF SHAREHOLDING CONTROL, OF DEREGISTRATION AS PUBLICLY HELD COMPANY AND DELISTING
FROM THE NOVO MERCADO</FONT></B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 39.</B>&#9;The sale of the control of the Company,
directly or indirectly, both by means of a single operation, as by means of successive operations, shall be contracted under the condition
precedent or subsequent, that the purchaser of the control undertakes to present a public offer for the purchase of the shares having
as object the shares issued by the Company held by the other shareholders (&ldquo;<U>OPA</U>&rdquo;), observing the conditions and terms
provided in the law and regulation in force and in the Regulation of the Novo Mercado, as to ensure them equal treatment to the one given
to the seller.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph One - For purposes of this Bylaws, it is understood
as control and its related terms the power effectively used by shareholder to direct the corporate activities and to guide the functioning
of the company&acute;s bodies, whether directly or indirectly, in fact or by law, regardless of the equity interest held the shareholder.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red"><STRIKE>Paragraph Two - If the purchase of the
control also subjects the purchaser of the control to perform an OPA required by Article 41 of this Bylaws, the purchase price at the
OPA will be the higher between the prices determined in compliance with this Article 39 and Article 41, Paragraph Three of this Bylaws.</STRIKE></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph <FONT STYLE="color: #2E74B5"><U>Two</U></FONT>
<FONT STYLE="color: red"><STRIKE>Three</STRIKE></FONT> - In case of indirect sale of control, the purchaser shall disclose the value attributed
to the Company for the purposes of defining the price of the OPA, as well as to disclose the justified evidence of this value.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Paragraph <FONT STYLE="color: #2E74B5"><U>Three</U></FONT>
<FONT STYLE="color: red"><STRIKE>Four</STRIKE></FONT> - The OPA shall observe the conditions and the terms provided in the law, the regulation
in force and in the Regulation of the Novo Mercado.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article 40. </B>After an operation of sale of control
of the Company and its subsequent OPA, the purchaser of the control, whenever necessary, shall take the appropriate measures to restore
the minimum percentage of outstanding shares provided in the Regulation of the Novo Mercado, within the eighteen (18) months following
the purchase of the power of control.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red"><B><STRIKE>Article 41. </STRIKE></B><STRIKE>Any
Purchasing Shareholder, who purchases or becomes holder of shares issued by the Company, in amount equal to or higher than thirty three
point thirty three percent (33.33%) of the total shares issued by the Company shall (i) immediately disclose such information by means
of Material Fact Notice, as provided in the regulation issued by CVM; and (ii) in the maximum period of thirty (30) days counting from
the date of the purchase or of the event that resulted in the ownership of shares in amount equal to or higher than thirty three point
thirty three percent (33.33%) of the total shares issued by the Company, present or request registration of, as the case may be, an OPA
of the totality of the shares issued by the Company, observing the provision of the applicable regulation of CVM, the regulations of B3
and the terms of this Article.</STRIKE></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red"><STRIKE>Paragraph One - For purposes of this
Bylaws, (i) &ldquo;Purchasing Shareholder&rdquo; means any person, including, without limitation, any individual or legal entity, investment
fund, condominium, securities portfolio, universality of rights, or other form of organization, resident, with domicile or with head office
in Brazil or abroad, or Group of Shareholders, that purchases 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, whether directly or by means of controlled companies,
controlling companies or under common control; or (b) among which there is a control relationship; or (c) under common control.</STRIKE></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red"><STRIKE>Paragraph Two - The OPA shall be (i)
directed indistinctly to all the shareholders of the Company, (ii) effected through an auction to be held at B3, (iii) presented by the
price determined in accordance with Paragraph Three of this Article, and (iv) paid in cash, in national currency, against the purchase
within the OPA of the shares issued by the Company.</STRIKE></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red"><STRIKE>Paragraph Three - The purchase price
at the OPA of each share issued by the Company may not be lower than the highest value between (i) one hundred and forty percent (140%)
of the average unit price of the shares issued by the Company during the last one hundred and</STRIKE></P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red"><STRIKE>twenty (120) days of the previous trading
sessions to the date in which it becomes mandatory the performance of the OPA, at the stock exchange in which there is the highest volume
of trading of shares issued by the Company; and (ii) one hundred and forty percent (140%) of the average unit price of the shares issued
by the Company during the last thirty (30) days of the previous trading sessions to the date in which it becomes mandatory the performance
of the OPA, at the stock exchange in which there is the highest volume of trading of shares issued by the Company.</STRIKE></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red"><STRIKE>Paragraph Four - The performance of the
OPA mentioned in the head paragraph of this Article will not exclude the possibility of another shareholder of the Company, or, as the
case may be, the Company itself, to formulate a competing OPA, in the terms of the applicable regulation.</STRIKE></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red"><STRIKE>Paragraph Five - The Purchasing Shareholder
will be obliged to attend eventual requests or to meet the requirements of CVM, formulated based on the applicable law, related to the
OPA, within the maximum terms provided in the applicable regulation.</STRIKE></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red"><STRIKE>Paragraph Six - If the Purchasing Shareholder
does not comply with the obligations imposed by this Article, including on what refers to the compliance of the maximum terms (i) for
the performance or request of registration of the or (ii) for compliance or possible requests or requirements from CVM, the Board of Directors
of the Company shall convene an Extraordinary General Shareholders&rsquo; Meeting, in which the Purchasing Shareholder will not be able
to vote, to deliberate on the suspension of the exercise of the rights of the Purchasing Shareholder that did not comply with any obligation
imposed in this Article, as provided in Article 120 of the Brazilian Corporation Law, without prejudice to the responsibility of the Purchasing
Shareholder for losses and damages caused to the other shareholders as a result of non-compliance to the obligations imposed by this Article.</STRIKE></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red"><STRIKE>Paragraph Seven - Any Purchasing Shareholder
who purchases or becomes holder of other rights, including usufruct or trust, over the shares issued by the Company in amount equal to
or higher than thirty three point thirty three percent (33.33%) of the total shares issued by the Company, will be equally obliged to,
in up to thirty (30) days counted from the date of such purchase or from the event that resulted in the ownership of such rights over
shares in amount equal to or higher than thirty three point thirty three percent (33.33%) of the total shares issued by the Company, to
present or request the registration, as the case may be, of an OPA, in the terms described in this Article.</STRIKE></P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red"><STRIKE>Paragraph Eight - The obligations contained
in Article 254-A of the Brazilian Corporation Law and in 0 of this Bylaws do not exclude the compliance, by the Purchasing Shareholder,
with the obligations contained in this Article, except as provided in Article 45 and in Article 46 of this Bylaws.</STRIKE></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red"><STRIKE>Paragraph Nine - The provision of this
Article is not applicable if a person becomes holder of shares issued by the Company in amount higher than thirty three point thirty three
percent (33.33%) of the total of the shares issued as a result: (i) of legal succession, under the conditions that the shareholder disposes
the excess of shares in up to sixty (60) days counted from the relevant event, (ii) of the merger of another company into the Company,
(iii) of the merger of shares of another company into the Company, or (iv) of the subscription of shares of the Company, made in a single
primary issue, that has been approved at a General Shareholders&rsquo; Meeting of the shareholders of the Company, according to the rules
provided in the applicable regulation.</STRIKE></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red"><STRIKE>Paragraph Ten - For purposes of calculation
of the percentage of thirty-three-point thirty three percent (33.33%) of the total shares issued by the Company described in the head
paragraph of this Article, it will not be calculated the involuntary increases of equity interest resulting from cancelation of shares
held in treasury or of reduction of the Company&acute;s capital stock with the cancelation of shares.</STRIKE></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red"><STRIKE>Paragraph Eleven - If CVM&acute;s regulation
applicable to the OPA, as provided in this Article determines the adoption of a criteria of calculation for setting the purchase price
of each share of the Company in the OPA that results in purchase price higher than the one determined in the terms of Paragraph Three
of this Article, the OPA provided in this Article shall be effected for the purchase price calculated in the terms of CVM&acute;s regulation.</STRIKE></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article <FONT STYLE="color: #2E74B5"><U>41</U></FONT>
<FONT STYLE="color: red"><STRIKE>42</STRIKE></FONT>. </B>The Company&acute;s delisting from the Novo Mercado, either by voluntary, compulsory
act or by virtue of corporate restructuring, shall observe the rules contained in the Regulation of the Novo Mercado.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article <FONT STYLE="color: #2E74B5"><U>42</U></FONT>
<FONT STYLE="color: red"><STRIKE>43</STRIKE></FONT>. </B>Without prejudice to the provision of the Regulation of the Novo Mercado, the
voluntary delisting from the Novo Mercado shall be preceded by an OPA that observes the procedures provided in the regulation issued by
CVM on the OPA for the cancelation of registration as publicly held company and the following requirements: (i) the price offered shall
be fair, being possible, the request of new valuation of the Company in the form established</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">in the Brazilian Corporation Law; and (ii) shareholders
holding more than 1/3 of the outstanding shares shall accept the OPA or expressly agree with the delisting from the Novo Mercado without
the effective sale of the shares.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Sole Paragraph. The voluntary delisting from the Novo Mercado
may occur regardless of the performance of the OPA mentioned in this Article, in the event of waiver approved at the General Shareholders&rsquo;
Meeting, observing the rules and conditions of the Regulation of the Novo Mercado.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article <FONT STYLE="color: #2E74B5"><U>43</U></FONT>
<FONT STYLE="color: red"><STRIKE>44</STRIKE></FONT>.</B> Without prejudice to the provision of the Regulation of the Novo Mercado, the
compulsory delisting from the Novo Mercado shall be preceded by an OPA that observes the procedures provided in the regulation issued
by CVM on public offers for purchase of shares for cancelation of registration of publicly held company and the requirements established
in the head paragraph of Article 43.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Sole Paragraph. If the percentage of purchase of shares that
authorizes the delisting from the Novo Mercado is not reached, after the performance of the OPA provided in the head paragraph, the shares
issued by the Company will still be negotiated in the Novo Mercado, within six (6) months following the performance of the auction of
the OPA, without prejudice of the application of eventual sanctions by B3.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article <FONT STYLE="color: #2E74B5"><U>44</U></FONT>
<FONT STYLE="color: red"><STRIKE>45</STRIKE></FONT>. </B>It is optional the formulation of a single OPA, aiming to more than one of the
purposes provided in this Chapter VIII, in the Regulation of the Novo Mercado, in the corporate law or in the regulation issued by CVM,
provided it is possible to make procedures compatible with all types of OPA and there is no prejudice for the recipients of the offer
and it is obtained the authorization from CVM when required by the applicable law.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red"><STRIKE>Sole Paragraph - With the exception of
the OPAs destined to the delisting from the Novo Mercado and/or to the cancelation of registration of publicly held company, the performance
of a unified OPA may only occur by a shareholder of the Company who holds an amount equal or higher than thirty three point thirty three
percent (33.33%) of the total shares issued by the Company, observing the provision of head paragraph of Article 41 as to the minimum
price to be paid per share.</STRIKE></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify; color: red">&nbsp;</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article <FONT STYLE="color: #2E74B5"><U>45</U></FONT>
<FONT STYLE="color: red"><STRIKE>46</STRIKE></FONT>. </B>The shareholders responsible for the performance of the OPA provided in this
Chapter VIII, in the Regulation of the Novo Mercado or in the regulation issued by CVM may ensure its effectiveness through any shareholder
or third party.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">Sole Paragraph - The Company or the shareholder, as the case
may be, do not exempt itself from the obligation to present the OPA that is of his responsibility until the said OPA is concluded in compliance
with the applicable rules.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif"><B>XX.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">ARBITRAL TRIBUNAL</FONT></B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article <FONT STYLE="color: #2E74B5"><U>46</U></FONT>
<FONT STYLE="color: red"><STRIKE>47</STRIKE></FONT>. </B>The Company, its shareholders, Management and members of Fiscal Council undertake
to resolve, by means of arbitration, in the Market Arbitration Chamber, in the form of its regulation, every and all controversy that
may arise between them, related to or arising from its condition as issuer, shareholder, Management or member of the Fiscal Council, as
the case may be, and, specially, of the application, validity, efficacy, interpretation, violation and its effects, arising from the dispositions
contained in Law n&ordm; 6.385/1976, in the Brazilian Corporation Law, in the rules edited by the National Monetary Council, in the Central
Bank of Brazil or by CVM, as well as in the other applicable rules to the functioning of the capital market in general and the ones contained
in the Regulation of the Novo Mercado, in the other regulations of B3 and in the participation agreement of the Novo Mercado, as in the
Arbitration Regulation of the Market Arbitration Chamber, to be conducted in compliance with this last Regulation.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif"><B>XXI.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">COMPANY&acute;S LIQUIDATION</FONT></B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article <FONT STYLE="color: #2E74B5"><U>47 </U></FONT><FONT STYLE="color: red"><STRIKE>48</STRIKE></FONT>.
</B>The Company will be liquidated in the cases determined in the law, being incumbent on the General Shareholders&rsquo; Meeting to elect
the liquidator or liquidators, as well as the Fiscal Council that shall work in this period, according to the legal formalities.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0; text-align: justify; text-indent: 0cm"><FONT STYLE="font-family: Arial,sans-serif"><B>XXII.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial,sans-serif">GENERAL PROVISIONS</FONT></B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify"><B>Article <FONT STYLE="color: #2E74B5"><U>48</U></FONT>
<FONT STYLE="color: red"><STRIKE>49</STRIKE></FONT>. </B>The Company shall observe the shareholders&acute; agreements filed at the head
office, being expressly prevented to the members of the presiding board of the works of the general meetings or of the meetings of the
Board of Directors to accept declaration of vote of any shareholder, signatory of shareholders&rsquo; agreement duly filed at the head
office or of member of the Board of Directors elected by the signatories of such agreement, that is cast in</P>


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<P STYLE="font: 11pt Arial,sans-serif; margin: 0 0 8pt; text-align: justify">disagreement with what is agreed upon in the referred agreement,
also being expressly forbidden to the Company to accept and proceed to the transfer of shares and/or to the encumbrance and/or to the
assignment of preemptive right to the subscription of shares and/or of other securities that do not respect what is provided and regulated
according to the shareholders&rsquo; agreement filed at the head office.</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt">&nbsp;</P>


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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>BRF S.A.</B></P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt Arial,sans-serif; margin: 0 0 7pt; text-align: center">Appendix IV &ndash; Comparative table of the proposed
amendments in item (i) of EGM&rsquo;s Agenda, with the justification for the changes and the analysis of their legal and economic effects,
according to article 12, of CVM Resolution No. 81.</P>

<P STYLE="font: 11pt Arial,sans-serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR STYLE="vertical-align: top; background-color: #BFBFBF">
    <TD STYLE="width: 34%; border: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Arial,sans-serif; font-size: 10pt"><B>Current text</B></FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Arial,sans-serif; font-size: 10pt"><B>Proposed amendment</B></FONT></TD>
    <TD STYLE="width: 33%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Arial,sans-serif; font-size: 10pt"><B>Justification for the changes</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; width: 34%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify"><B>Article 39.</B>&#9;The sale of the control of the Company,
    directly or indirectly, both by means of a single operation, as by means of successive operations, shall be contracted under the condition
    precedent or subsequent, that the purchaser of the control undertakes to present a public offer for the purchase of the shares having
    as object the shares issued by the Company held by the other shareholders (&ldquo;OPA&rdquo;), observing the conditions and terms provided
    in the law and regulation in force and in the Regulation of the Novo Mercado, as to ensure them equal treatment to the one given to the
    seller.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Paragraph One - For purposes of this Bylaws, it is understood
    as control and its related terms the power effectively used by shareholder to direct the corporate activities and to guide the functioning
    of the company&acute;s bodies, whether directly or indirectly, in fact or by law, regardless of the equity interest held the shareholder.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Paragraph Two - If the purchase of the control also subjects
    the purchaser of the control to perform an OPA required by Article 41 of this Bylaws, the purchase price at the OPA will be the higher
    between the prices determined in compliance with this Article 39 and Article 41, Paragraph Three of this Bylaws.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify"></P></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 33%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify"><B>Article 39.</B>&#9;The sale of the control of the Company,
    directly or indirectly, both by means of a single operation, as by means of successive operations, shall be contracted under the condition
    precedent or subsequent, that the purchaser of the control undertakes to present a public offer for the purchase of the shares having
    as object the shares issued by the Company held by the other shareholders (&ldquo;OPA&rdquo;), observing the conditions and terms provided
    in the law and regulation in force and in the Regulation of the Novo Mercado, as to ensure them equal treatment to the one given to the
    seller.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Paragraph One - For purposes of this Bylaws, it is understood
    as control and its related terms the power effectively used by shareholder to direct the corporate activities and to guide the functioning
    of the company&acute;s bodies, whether directly or indirectly, in fact or by law, regardless of the equity interest held the shareholder.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify; color: red"><STRIKE>Paragraph Two - If the purchase of the
    control also subjects the purchaser of the control to perform an OPA required by Article 41 of this Bylaws, the purchase price at the
    OPA will be the higher between the prices determined in compliance with this Article 39 and Article 41, Paragraph Three of this Bylaws.</STRIKE></P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify"></P></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 33%; border-bottom: Black 1pt solid; font: 12pt Tahoma,sans-serif; padding-top: 2pt; padding-bottom: 2pt; text-align: justify"><FONT STYLE="font-family: Arial,sans-serif; font-size: 10pt">Exclusion of Paragraph 2 of article 39, which makes cross-reference to the Tender Offer of article 41.</FONT></TD></TR>
  </TABLE>
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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Paragraph Three - In case of indirect sale of control, the
    purchaser shall disclose the value attributed to the Company for the purposes of defining the price of the OPA, as well as to disclose
    the justified evidence of this value.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Paragraph Four - The OPA shall observe the conditions and the
    terms provided in the law, the regulation in force and in the Regulation of the Novo Mercado.</P></TD>
    <TD STYLE="width: 33%; 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,sans-serif; margin: 2pt 0; text-align: justify"></P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Paragraph Two <FONT STYLE="color: red"><STRIKE>Three</STRIKE></FONT>
    - In case of indirect sale of control, the purchaser shall disclose the value attributed to the Company for the purposes of defining the
    price of the OPA, as well as to disclose the justified evidence of this value.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Paragraph Three <FONT STYLE="color: red"><STRIKE>Four</STRIKE></FONT>
    Four - The OPA shall observe the conditions and the terms provided in the law, the regulation in force and in the Regulation of the Novo
    Mercado.</P></TD>
    <TD STYLE="width: 33%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Tahoma,sans-serif; padding-top: 2pt; padding-bottom: 2pt; text-align: justify"><FONT STYLE="font-family: Arial,sans-serif; font-size: 10pt"></FONT></TD></TR>
  </TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; width: 34%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify"><B>Article 41. </B>Any Purchasing Shareholder, who purchases
    or becomes holder of shares issued by the Company, in amount equal to or higher than thirty three point thirty three percent (33.33%)
    of the total shares issued by the Company shall (i) immediately disclose such information by means of Material Fact Notice, as provided
    in the regulation issued by CVM; and (ii) in the maximum period of thirty (30) days counting from the date of the purchase or of the event
    that resulted in the ownership of shares in amount equal to or higher than thirty three point thirty three percent (33.33%) of the total
    shares issued by the Company, present or request registration of, as the case may be, an OPA of the totality of the shares issued by the
    Company, observing the provision of the applicable regulation of CVM, the regulations of B3 and the terms of this Article.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify"></P></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 33%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify"><B><STRIKE>Article 41. </STRIKE></B><STRIKE><FONT STYLE="color: red">Any
    Purchasing Shareholder, who purchases or becomes holder of shares issued by the Company, in amount equal to or higher than thirty three
    point thirty three percent (33.33%) of the total shares issued by the Company shall (i) immediately disclose such information by means
    of Material Fact Notice, as provided in the regulation issued by CVM; and (ii) in the maximum period of thirty (30) days counting from
    the date of the purchase or of the event that resulted in the ownership of shares in amount equal to or higher than thirty three point
    thirty three percent (33.33%) of the total shares issued by the Company, present or request registration of, as the case may be, an OPA
    of the totality of the shares issued by the Company, observing the provision of the applicable regulation of CVM, the regulations of B3
    and the terms of this Article.</FONT></STRIKE></P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify; color: red"></P></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 33%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">This amendment, to be approved under the condition precedent
    to the settlement of a possible Capital Increase, aims to exclude the statutory Tender Offer for acquisition of a relevant interest.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">Thus, if this matter is approved by the Shareholders and
    the Company carries out a Capital Increase, either through a primary public offering of shares issued by the Company or a private capital
    increase with the issuance of new shares, any shareholder of the Company and/or investor that comes to hold shares issued by the Company
    in a quantity equal or superior to 33.33% (thirty-three point thirty-three percent) of the total shares issued by the Company shall not
    be obliged to carry out the Tender Offer for acquisition of a relevant interest set forth in article 41 of the Bylaws.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify"></P></TD></TR>
  </TABLE>
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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">

    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Paragraph One - For purposes of this Bylaws, (i) &ldquo;Purchasing
    Shareholder&rdquo; means any person, including, without limitation, any individual or legal entity, investment fund, condominium, securities
    portfolio, universality of rights, or other form of organization, resident, with domicile or with head office in Brazil or abroad, or
    Group of Shareholders, that purchases 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, whether directly or by means of controlled companies, controlling companies or
    under common control; or (b) among which there is a control relationship; or (c) under common control.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Paragraph Two - The OPA shall be (i) directed indistinctly
    to all the shareholders of the Company, (ii) effected through an auction to be held at B3, (iii) presented by the price determined in
    accordance with Paragraph Three of this Article, and (iv) paid in cash, in national currency, against the purchase within the OPA of the
    shares issued by the Company.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Paragraph Three - The purchase price at the OPA of each share
    issued by the Company may not be lower than the highest value between (i) one hundred and forty percent (140%) of the average unit price
    of the shares issued by the Company during the last one hundred and twenty (120) days of the previous trading sessions to the date in
    which it becomes mandatory the performance of the OPA, at the stock exchange in which there s the highest volume of trading of shares
    issued by the Company; and (ii) one hundred and forty percent (140%) of the average unit price of the shares issued by the Company during
    the last thirty (30) days of the previous trading sessions to the date in which it becomes mandatory the performance of the OPA, at the
    stock exchange in which there is the highest volume of trading of shares issued by the Company.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 33%; 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,sans-serif; margin: 2pt 0; text-align: justify; color: red"><STRIKE>Paragraph One - For purposes of this Bylaws,
    (i) &ldquo;Purchasing Shareholder&rdquo; means any person, including, without limitation, any individual or legal entity, investment fund,
    condominium, securities portfolio, universality of rights, or other form of organization, resident, with domicile or with head office
    in Brazil or abroad, or Group of Shareholders, that purchases 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, whether directly or by means of controlled companies,
    controlling companies or under common control; or (b) among which there is a control relationship; or (c) under common control.</STRIKE></P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify; color: red"><STRIKE>Paragraph Two - The OPA shall be (i) directed
    indistinctly to all the shareholders of the Company, (ii) effected through an auction to be held at B3, (iii) presented by the price determined
    in accordance with Paragraph Three of this Article, and (iv) paid in cash, in national currency, against the purchase within the OPA of
    the shares issued by the Company.</STRIKE></P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify; color: red"><STRIKE>Paragraph Three - The purchase price
at the OPA of each share issued by the Company may not be lower than the highest value between (i) one hundred and forty percent (140%)
of the average unit price of the shares issued by the Company during the last one hundred and twenty (120) days of the previous trading
sessions to the date in which it becomes mandatory the performance of the OPA, at the stock exchange in which there s the highest volume
of trading of shares issued by the Company; and (ii) one hundred and forty percent (140%) of the average unit price of the shares issued
by the Company during the last thirty (30) days of the previous trading sessions to the date in which it becomes mandatory the performance
of the OPA, at the stock exchange in which there is the highest volume of trading of shares issued by the Company.</STRIKE></P></TD>
    <TD STYLE="width: 33%; 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,sans-serif; margin: 0 0 7pt; text-align: justify">According to management, after the conclusion of the Capital
    Increase and the effectiveness of the exclusion of article 41, the Company may benefit from greater flexibility to carry out corporate
    transactions beneficial to the Company, by eliminating the obligation to make a Tender Offer additional to those provided for in the applicable
    legislation and regulations, at artificially high prices, constituting an obstacle to investment in the Company's common shares, which
    could ultimately harm their valuation.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">Finally, it should be noted that the deletion of article
    41 of the Bylaws is one of the conditions to be met under the investment commitment sent by investor SALIC to the Company, under the terms
    of the Material Fact disclosed by the Company on May 31, 2023.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">The Company's management clarifies that the effective exclusion
    of article 41 of the Bylaws, and consequently of cross references and renumbering of the other articles, as well as this consolidation
    is conditioned to the settlement of a Capital Increase. Thus, this consolidation containing the adjustments proposed in resolution (ii)
    of the agenda of the Extraordinary Shareholders' Meeting will only become effective after the settlement of a Capital Increase.</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify"></P>

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<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Paragraph Four - The performance of the OPA mentioned in the
    head paragraph of this Article will not exclude the possibility of another shareholder of the Company, or, as the case may be, the Company
    itself, to formulate a competing OPA, in the terms of the applicable regulation.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Paragraph Five - The Purchasing Shareholder will be obliged
    to attend eventual requests or to meet the requirements of CVM, formulated based on the applicable law, related to the OPA, within the
    maximum terms provided in the applicable regulation.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Paragraph Six - If the Purchasing Shareholder does not comply
    with the obligations imposed by this Article, including on what refers to the compliance of the maximum terms (i) for the performance
    or request of registration of the or (ii) for compliance or possible requests or requirements from CVM, the Board of Directors of the
    Company shall convene an Extraordinary General Shareholders&rsquo; Meeting, in which the Purchasing Shareholder will not be able to vote,
    to deliberate on the suspension of the exercise of the rights of the Purchasing Shareholder that did not comply with any obligation imposed
    in this Article, as provided in Article 120 of the Brazilian Corporate Law, without prejudice to the responsibility of the Purchasing
    Shareholder for losses and damages caused to the other shareholders as a result of non-compliance to the obligations imposed by this Article.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify"></P></TD>
    <TD STYLE="width: 33%; 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,sans-serif; margin: 2pt 0; text-align: justify; color: red"><STRIKE>Paragraph Four - The performance of the
    OPA mentioned in the head paragraph of this Article will not exclude the possibility of another shareholder of the Company, or, as the
    case may be, the Company itself, to formulate a competing OPA, in the terms of the applicable regulation.</STRIKE></P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify; color: red"><STRIKE>Paragraph Five - The Purchasing Shareholder
    will be obliged to attend eventual requests or to meet the requirements of CVM, formulated based on the applicable law, related to the
    OPA, within the maximum terms provided in the applicable regulation.</STRIKE></P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify; color: red"><STRIKE>Paragraph Six - If the Purchasing Shareholder
    does not comply with the obligations imposed by this Article, including on what refers to the compliance of the maximum terms (i) for
    the performance or request of registration of the or (ii) for compliance or possible requests or requirements from CVM, the Board of Directors
    of the Company shall convene an Extraordinary General Shareholders&rsquo; Meeting, in which the Purchasing Shareholder will not be able
    to vote, to deliberate on the suspension of the exercise of the rights of the Purchasing Shareholder that did not comply with any obligation
    imposed in this Article, as provided in Article 120 of the Brazilian Corporate Law, without prejudice to the responsibility of the Purchasing
    Shareholder for losses and damages caused to the other shareholders as a result of non-compliance to the obligations imposed by this Article.</STRIKE></P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify; color: red"></P></TD>
    <TD STYLE="width: 33%; 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,sans-serif; margin: 0 0 7pt; text-align: justify"></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify"></P>

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<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Paragraph Seven - Any Purchasing Shareholder who purchases
    or becomes holder of other rights, including usufruct or trust, over the shares issued by the Company in amount equal to or higher than
    thirty three point thirty three percent (33.33%) of the total shares issued by the Company, will be equally obliged to, in up to thirty
    (30) days counted from the date of such purchase or from the event that resulted in the ownership of such rights over shares in amount
    equal to or higher than thirty three point thirty three percent (33.33%) of the total shares issued by the Company, to present or request
    the registration, as the case may be, of an OPA, in the terms described in this Article.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Paragraph Eight - The obligations contained in Article 254-A
    of the Brazilian Corporate Law and in this Bylaws do not exclude the compliance, by the Purchasing Shareholder, with the obligations contained
    in this Article, except as provided in Article 45 and in Article 46 of this Bylaws.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify"></P></TD>
    <TD STYLE="width: 33%; 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,sans-serif; margin: 2pt 0; text-align: justify; color: red"><STRIKE>Paragraph Seven - Any Purchasing Shareholder
who purchases or becomes holder of other rights, including usufruct or trust, over the shares issued by the Company in amount equal to
or higher than thirty three point thirty three percent (33.33%) of the total shares issued by the Company, will be equally obliged to,
in up to thirty (30) days counted from the date of such purchase or from the event that resulted in the ownership of such rights over
shares in amount equal to or higher than thirty three point thirty three percent (33.33%) of the total shares issued by the Company,
to present or request the registration, as the case may be, of an OPA, in the terms described in this Article.</STRIKE></P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify; color: red"><STRIKE>Paragraph Eight - The obligations contained
    in Article 254-A of the Brazilian Corporate Law and in this Bylaws do not exclude the compliance, by the Purchasing Shareholder, with
    the obligations contained in this Article, except as provided in Article 45 and in Article 46 of this Bylaws. </STRIKE></P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify; color: red"></P></TD>
    <TD STYLE="width: 33%; 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,sans-serif; margin: 0 0 7pt; text-align: justify"></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify"></P>

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<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Paragraph Nine - The provision of this Article is not applicable
    if a person becomes holder of shares issued by the Company in amount higher than thirty three point thirty three percent (33.33%) of the
    total of the shares issued as a result: (i) of legal succession, under the conditions that the shareholder disposes the excess of shares
    in up to sixty (60) days counted from the relevant event, (ii) of the merger of another company into the Company, (iii) of the merger
    of shares of another company into the Company, or (iv) of the subscription of shares of the Company, made in a single primary issue, that
    has been approved at a General Shareholders&rsquo; Meeting of the shareholders of the Company, according to the rules provided in the
    applicable regulation.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Paragraph Ten - For purposes of calculation of the percentage
    of thirty-three-point thirty three percent (33.33%) of the total shares issued by the Company described in the head paragraph of this
    Article, it will not be calculated the involuntary increases of equity interest resulting from cancelation of shares held in treasury
    or of reduction of the Company&acute;s capital stock with the cancelation of shares.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Paragraph Eleven - If CVM&acute;s regulation applicable to
    the OPA, as provided in this Article determines the adoption of a criteria of calculation for setting the purchase price of each share
    of the Company in the OPA that results in purchase price higher than the one determined in the terms of Paragraph Three of this Article,
    the OPA provided in this Article shall be effected for the purchase price calculated in the terms of CVM&acute;s regulation.</P></TD>
    <TD STYLE="width: 33%; 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,sans-serif; margin: 2pt 0; text-align: justify; color: red"><STRIKE>Paragraph Nine - The provision of this
    Article is not applicable if a person becomes holder of shares issued by the Company in amount higher than thirty three point thirty three
    percent (33.33%) of the total of the shares issued as a result: (i) of legal succession, under the conditions that the shareholder disposes
    the excess of shares in up to sixty (60) days counted from the relevant event, (ii) of the merger of another company into the Company,
    (iii) of the merger of shares of another company into the Company, or (iv) of the subscription of shares of the Company, made in a single
    primary issue, that has been approved at a General Shareholders&rsquo; Meeting of the shareholders of the Company, according to the rules
    provided in the applicable regulation.</STRIKE></P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify; color: red"><STRIKE>Paragraph Ten - For purposes of calculation
    of the percentage of thirty-three-point thirty three percent (33.33%) of the total shares issued by the Company described in the head
    paragraph of this Article, it will not be calculated the involuntary increases of equity interest resulting from cancelation of shares
    held in treasury or of reduction of the Company&acute;s capital stock with the cancelation of shares.</STRIKE></P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify; color: red"><STRIKE>Paragraph Eleven - If CVM&acute;s regulation
    applicable to the OPA, as provided in this Article determines the adoption of a criteria of calculation for setting the purchase price
    of each share of the Company in the OPA that results in purchase price higher than the one determined in the terms of Paragraph Three
    of this Article, the OPA provided in this Article shall be effected for the purchase price calculated in the terms of CVM&acute;s regulation.
    </STRIKE></P></TD>
    <TD STYLE="width: 33%; 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,sans-serif; margin: 0 0 7pt; text-align: justify"></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify"></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: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 34%">
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify"><B>Article 45. </B>It is optional the formulation of a single
    OPA, aiming to more than one of the purposes provided in this Chapter VIII, in the Regulation of the Novo Mercado, in the corporate law
    or in the regulation issued by CVM, provided it is possible to make procedures compatible with all types of OPA and there is no prejudice
    for the recipients of the offer and it is obtained the authorization from CVM when required by the applicable law.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify">Sole Paragraph - With the exception of the OPAs destined to
    the delisting from the Novo Mercado and/or to the cancelation of registration of publicly held company, the performance of a unified OPA
    may only occur by a shareholder of the Company who holds an amount equal or higher than thirty three point thirty three percent (33.33%)
    of the total shares issued by the Company, observing the provision of head paragraph of Article 41 as to the minimum price to be paid
    per share.</P></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 33%">
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify"><B>Article. 45. </B>It is optional the formulation of a single
    OPA, aiming to more than one of the purposes provided in this Chapter VIII, in the Regulation of the Novo Mercado, in the corporate law
    or in the regulation issued by CVM, provided it is possible to make procedures compatible with all types of OPA and there is no prejudice
    for the recipients of the offer and it is obtained the authorization from CVM when required by the applicable law.</P>
    <P STYLE="font: 10pt Arial,sans-serif; margin: 2pt 0; text-align: justify; color: red"><STRIKE>Sole Paragraph - With the exception of
    the OPAs destined to the delisting from the Novo Mercado and/or to the cancelation of registration of publicly held company, the performance
    of a unified OPA may only occur by a shareholder of the Company who holds an amount equal or higher than thirty three point thirty three
    percent (33.33%) of the total shares issued by the Company, observing the provision of head paragraph of Article 41 as to the minimum
    price to be paid per share.</STRIKE></P></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Tahoma,sans-serif; padding-top: 2pt; padding-bottom: 2pt; text-align: justify; width: 33%"><FONT STYLE="font-family: Arial,sans-serif; font-size: 10pt">Exclusion of the Sole Paragraph of article 45, which makes cross-reference to the Tender Offer of article 41.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial,sans-serif; margin: 0 0 7pt; text-align: justify">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
