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FORWARD-LOOKING STATEMENTS

This annual report includes forward-looking statements, mainly in “Item 3. Key Information — D. Risk Factors,” “Item 4. Information on the Company — Business Overview” and “Item 5. Operating and Financial Review and Prospects.” We have based these forward-looking statements largely on our current expectations about future events and financial trends affecting our business. These forward-looking statements are subject to risks, uncertainties and assumptions, including among other things:

our management and future operation;

the implementation of our main operational strategies, including our potential participation in acquisitions, joint venture transactions or other investment opportunities;

general economic, political and business conditions, both in Brazil and in our principal export markets;

industry trends and the general level of demand for, and change in the market prices of, our products;

existing and future governmental regulation, including tax, labor, pension and environmental laws and regulations and import tariffs in the United States, in Brazil and in other markets in which we operate or to which we export our products;

the competitive nature of the industries in which we operate;

our level of capitalization, including the levels of our indebtedness and overall leverage;

the cost and availability of financing;

our compliance with the covenants contained in the instruments governing our indebtedness;

the implementation of our financing strategy and capital expenditure plans;

the impact of the ongoing wars in Ukraine and in the Middle East, the ongoing economic sanctions imposed on Russia and their impact on the global economy, and tensions between China and Taiwan and the global security concerns and market volatility which are highly uncertain and difficult to predict;

changes in global market conditions, impacting demand and pricing stability, including uncertainties related to global trade as a result of the imposition of tariffs by the United States in current administration;

inflation and fluctuations in currency exchange rates, including the Brazilian real and the U.S. dollar;

legal and administrative proceedings to which we are or may become a party;

the volatility of the prices of the raw materials we sell or purchase to use in our business;

our ability to comply with our ESG targets and commitments;

the implementation of new technologies to mitigate operational risks;

other statements included in this annual report that are not historical; and

other factors or trends affecting our financial condition or results of operations, including those factors identified or discussed in “Item 3. Key Information — D. Risk Factors.”

The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “hope,” “intend,” “may,” “might,” “should,” “would,” “will,” “understand” and similar words are intended to identify forward-looking statements. We undertake no obligation to update publicly or revise any forward-looking statements because of new information, future events or otherwise. In light of these risks and uncertainties, forward-looking information, events and circumstances discussed in this annual report might not occur and are not guarantees of future performance. Our actual results and performance may differ substantially from the forward-looking statements included in this annual report.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.