Ratings

Year	Kind	Agency	Scale	Outlook	Date
2022	ESG	Moody’s	A1	n/a	04/08/2022
2022	Global Scale	Moody’s	Ba3	Stable	06/15/2022
2022	Local Scale*	Moody’s	AA-.br	Stable	07/27/2022
2022	Global Scale	Fitch Ratings	BB-	Stable	02/10/2022
2022	Local Scale	Fitch Ratings	AA- (bra)	Stable	02/10/2022
2022	Local Scale*	S&P	brAA	Negative	06/09/2022

* Portuguese only.