B3 S A Brasil Bolsa Balcão : 1/19/21002-2021-PRE-Circular LetterChanges to B3 Clearinghouse Rules and Operating Procedures Manual.

January 19, 2021 002/2021-PRE

C I R C U L A R L E T T E R

To: B3's Market Participants - BM&FBOVESPA Segment

Re: Changes to B3 Clearinghouse Rules and Operating Procedures

Manual.

New versions of the following normative documents come into force on January

26, 2021:

1. B3 Clearinghouse Rules; and

1. B3 Clearinghouse Operating Procedures Manual.

As detailed in the Annex to this Circular Letter, changes have been made to:

• The rules on trade give-ups, in order not to allow rejection by the carrying participant of trades involving options exercise and trades involving investor colocation connections;
• The rules on early settlement of securities lending positions that derive from electronic trading, in order to allow lenders to request early settlement of such positions even if the early settlement date coincides with expiration of the securities lending agreement in question.

This Circular Letter produces effects as of the date of its publication.

1

Any specified time limits for validity shall apply.

This free translation is not legally binding. Any questions arising from the text should be clarified by consulting

the original in Portuguese. In the event of any discrepancy, the original in Portuguese shall prevail.

INFORMAÇÃO PÚBLICA - PUBLIC INFORMATION

002/2021-PRE

The latest versions of both documents, duly updated, will be available from January 26, 2021, at http://www.b3.com.br/en_us, Regulation, Regulation and manuals, Post-trade.

Further information can be obtained from Support for Settlement Processes and

Services by calling [phone] or emailing [e-mail].

Gilson Finkelsztain	José Ribeiro de Andrade
Chief Executive Officer	Chief Product and Client Officer

This Circular Letter produces effects as of the date of its publication.

2

Any specified time limits for validity shall apply.

This free translation is not legally binding. Any questions arising from the text should be clarified by consulting

the original in Portuguese. In the event of any discrepancy, the original in Portuguese shall prevail.

INFORMAÇÃO PÚBLICA - PUBLIC INFORMATION

Annex I to Circular Letter 002/2021-PRE

Description of Changes

1. Changes relating to trade give-ups

1. B3 CLEARINGHOUSE RULES
   Title II: Clearinghouse Operations as Central Counterparty Chapter III - Multilateral Net Settlement
   Section II - Give-Up of Transactions
   Inclusion in article 54 of an exception to the rule on rejection of give-ups by carrying participants.

1. B3 CLEARINGHOUSE OPERATING PROCEDURES MANUAL
   CHAPTER 5 - TRADE CAPTURE, ALLOCATION AND GIVE-UP Section 5.3 - Give-ups
   Subsection 5.3.2 - Give-up procedure
   Inclusion of the following cases in which the carrying participant cannot reject give-ups:
2. 1. Give-upsderiving from options exercise;
   2. Give-upsderiving from direct market access via investor colocation connections.

This Circular Letter produces effects as of the date of its publication.	1/2
Any specified time limits for validity shall apply.
This free translation is not legally binding. Any questions arising from the text should be clarified by consulting
the original in Portuguese. In the event of any discrepancy, the original in Portuguese shall prevail.

INFORMAÇÃO PÚBLICA - PUBLIC INFORMATION

002/2021-PRE

2. Changes relating to early settlement of securities lending agreements

I. B3 CLEARINGHOUSE OPERATING PROCEDURES MANUAL

CHAPTER 6 - POSITION MANAGEMENT

Section 6.6 - Lending position maintenance

Subsection 6.6.4 - Early settlement

Adjustment of the wording to specify that the timing of early settlement requests is different in accordance with the type of agreement (registered or traded electronically).

This Circular Letter produces effects as of the date of its publication.

Any specified time limits for validity shall apply.2/2 This free translation is not legally binding. Any questions arising from the text should be clarified by consulting

the original in Portuguese. In the event of any discrepancy, the original in Portuguese shall prevail.

INFORMAÇÃO PÚBLICA - PUBLIC INFORMATION