Statement of Annual Financial Information to the Central Bank – Base Period of December 31, 2019

Brazilian entities that have direct equity foreign investment in any amount must update, by March 31, 2020, with the Central Bank of Brazil, their financial statement position related to the base date of December 31, 2019, regardless of the amounts booked as their Net Equity and Assets.

In addition to complying with the March 31, 2020 deadline, the local legal entities with foreign equity interest that have accounted for NETWORTH and/or ASSETS in an amount equal to or higher than BRL250,000,000.00 (two hundred and fifty million Brazilian reais) at the end of the fiscal year 2019, must equally comply with the deadlines for updating with the Central Bank their quarterly financial statements. We remind you that the deadlines for such updates are as follows:

i. June 30 (base period ending on March 31, 2020);

ii. September 30 (base period ending on June 30, 2020); and

iii. December 31 (base period ending on September 30, 2020).

These updates are part of the obligations applicable to entities that receive foreign direct investment and that must be complied with before the Central Bank.

The lack of or the late registration may trigger the application of penalties by the Central Bank.

Our Banking & Finance team is ready to assist you in complying with this obligation. For more information, please feel free to contact us.