Thiago Garcia

Claritas Administração de Recursos Ltda. (Claritas) is the Brazilian investment management subsidiary of PFG do Brasil Ltda., ultimately held by The Principal Financial Group, Inc. (NYSE: PFG) in the US. The firm was founded in 1999 by Marcelo Karvelis and Renato Ribeiro Fortes Abucham. Headquartered in Sao Paulo, Claritas offers local and international funds to individual and institutional investors. The firm is a signatory of the UN Principles for Responsible Investment (UNPRI) and committed to incorporating environmental, social and corporate governance issues into their investment analysis and decision-making processes.

Exploritas Administração Financeira Ltda. is a financial management company based in São Paulo, Brazil, founded in 2012. The Brazilian company seeks to generate value through diversification and exposure in assets with a great risk/return asymmetry. The company's portfolio managers have years of experience in the financial market, managing bonds and equities in the Brazilian market and Latin America. Exploritas Administration Financial Ltda. uses strategies with derivatives as an integral part of its investment policy. The private company's investment funds do not have the assurance of the administrator, the portfolio manager, any insurance mechanism, or the credit guarantee fund - FGC. The information contained in this material is exclusively informative and should not be considered as an offer for the acquisition of quotas from these funds.