Ownership Structure

Last update 08/31/2025 # of Shares %
Government of the State of São Paulo(1) 123,036,664 18.0%
Equatorial 102,526,480 15.0%
Executive Officers 12,862 0.0%
Free Float(2) 683,497,007 100.0%
Total 683,509,869 100.0%

Notes:

(1)Includes 1 PN share (“Golden Share”)

(2)Refers to all shares of the issuer, excluding those held by the controlling shareholder, related parties, members of management, and treasury shares. This includes 68,393,846 ADRs, which represent approximately 10.0% of the total shares outstanding.