On December 7, 2021, the Board of Directors of Brazil Minerals, Inc. unanimously elected Mr. Stephen Petersen, CFA, as a new independent director to fill a vacant seat on the Board. On December 7, 2021, the Company and Mr. Petersen signed a Board of Director Agreement setting forth the company’s and Mr. Petersen’s responsibilities to each other and Mr. Petersen’s compensation for acting as a director. Mr. Petersen will serve on the Audit Committee of the Board with fellow independent directors, Ambassador Roger Noriega and Cassiopeia Olson, Esq. Mr. Petersen, age 65, has over 40 years of experience in the capital markets and investment management. Since 2013, he has been a Managing Director and member of the Investment Committee at Prio Wealth, an independent investment management firm with over $3 billion in assets under management. Previously, Mr. Petersen served as Senior Vice President, Investments at Fidelity Investments for approximately 32 years. During his tenure at Fidelity, Mr. Petersen served as a Portfolio Manager and Group Leader of The Fidelity Management Trust Company and was responsible for managing several equity income and balanced mutual funds such as Fidelity Equity Income Fund (1993-2011), Fidelity Balanced Fund (1996-1997), Fidelity VIP Equity-Income Fund (1997-2011), Fidelity Puritan Fund (2000-2007), Fidelity Advisor Equity-Income Fund (2009-2011), and Fidelity Equity-Income II (2009-2011). He began his career at Fidelity as an Equity Analyst.