BRAZIL ANNOUNCES RESULTS OF U.S. DOLLAR BOND ISSUANCE

The National Treasury announces the results of the transaction in the U.S. market, which included the issuance of a new 10-year benchmark bond, named Global 2035.

The Global 2035 bond matures on March 15, 2035, and was issued in the amount of US$ 2.5 billion, with a coupon rate of 6.625% per annum, payable semiannually on March 15 and September 15. The issuance was priced at 99.091% of its face value, resulting in a yield to investors of 6.750% per annum, which corresponds to a spread of 220 basis points over the reference U.S. Treasury security, the lowest since 2020 for a 10-year benchmark.

This issuance attracted significant investor interest, peaking at 301 orders in the order book. Demand far exceeded the issued volume, with the order book reaching approximately US$ 6.5 billion. The final allocation saw a strong presence of non-resident investors, with around 64% originating from Europe and North America, while Latin America, including Brazil, accounted for 28%.

The issuance reinforces the important role of external debt in extending the average maturity of Brazil’s debt, diversifying and expanding the investor base. Additionally, it supports the role of external Federal Public Debt in establishing liquid benchmarks and the sovereign yield curve, serving as a reference for future issuances by Brazilian companies abroad.

The transaction was led by Bradesco, JP Morgan, and Morgan Stanley. Financial settlement is scheduled for February 25, 2025.

This report is for information only and not an offer to purchase or sell or a solicitation for selling or purchasing bonds. There will be no offer or selling of bonds in any country or jurisdiction in which such an offer, solicitation or selling is considered illegal if carried out prior to respective registration or qualification under the securities laws of the respective country or jurisdiction.

The issuer has filed a registration statement, including a prospectus, with the U.S. Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before investing, to obtain more complete information about the issuer and this offering, you should read the prospectus contained in the registration statement and other documents the issuer has filed with the SEC. You can obtain these documents free of charge by accessing EDGAR on the SEC’s website at www.sec.gov. Alternatively, the issuer, any underwriter, or any dealer participating in the offering will arrange to send you the prospectus upon request by contacting Banco Bradesco BBI S.A. at +1 646 432 6642, J.P. Morgan Securities LLC at +1-866-846-2874, or Morgan Stanley & Co. LLC at +1-800-624-1808