ULTRAPAR PARTICIPAÇÕES S.A.
Updates on Ultrapar’s succession plan
São Paulo, December 16, 2024 – Ultrapar Participações S.A. (“Company”), in compliance with CVM Resolution 44/21, informs that the Board of Directors decided to initiate the transition process for the position of Chief Executive Officer of Ultrapar, in addition to the Material Notices disclosed on September 22, 2021, and February 15, 2023, and the new governance structure of Ultrapar and its businesses announced at the annual event with investors on September 6, 2024. This transition process is expected to be completed in April 2025, after the Company’s Annual General Meeting (“AGM”).
The Board of Directors noted that Mr. Marcos Marinho Lutz will be timely appointed by the Company’s management to (i) be part of the slate in the election of the Board of Directors to be held at the AGM; and (ii) occupy the position of Chairman of the Board of Directors, then assuming the role of Executive Chairman. Lutz will also serve as Chairman of the Board of Ultrapar’s main businesses (Ipiranga, Ultragaz, Ultracargo, and Hidrovias).
To assume the position of Chief Executive Officer of Ultrapar, after the completion of this transition process, the Board approved the appointment of Rodrigo de Almeida Pizzinatto, with a term starting in April 2025.
Pizzinatto has built a solid 25-year career at the Ultra Group. He joined the Company as an intern in the year of the IPO and held various positions at the holding company in areas such as M&A, treasury, planning, and investor relations. As CEO of Extrafarma from 2018 to 2020, he led the strategic redirection and turnaround of such company. Returning to the holding company in October 2020 as Chief Financial and Investor Relations Officer, he led the Group’s portfolio review process, the reduction of capital cost, and the greater discipline in capital allocation, as well as the renewal of strategy and leadership, duly presented at Ultra Day 2024. He holds a degree in Business Administration from Fundação Getúlio Vargas and an MBA from Stanford University.
The choice of Pizzinatto for the position of Chief Executive Officer of Ultrapar and the maintenance of Lutz in the leadership of the boards and as a significant shareholder reinforce our strategic pillar of ensuring a density of talent aligned with our long-term vision culture, as well as ensuring the continuity of the Company’s value generation plan and the consolidation of Ultrapar as a long-term capital allocator.
For the position of Chief Financial and Investor Relations Officer, the Board of Directors appoints Alexandre Palhares, who since May of this year has held the position of Director of Planning, Investor Relations and Treasury. Alexandre holds a degree in Business Administration, with an MBA in Business Management and Innovation from FIA. He has had experience in the financial areas of companies such as Embraer, Cosan, and Eurofarma, where he served as Vice President of Finance and Investor Relations.
Ultrapar also emphasizes that the transition process will be carried out with the usual planning and transparency, ensuring the continuity of its strategy and the preparation of its leadership for a new growth cycle.
Rodrigo de Almeida Pizzinatto
Chief Financial and Investor Relations Officer
Ultrapar Participações S.A.