B3 S A Brasil Bolsa Balcão : 4/13/23 051-2023-PRE-Circular Letter Consolidation of the Fee Structure Incentive Program Rules for Large Non-Day Trade Volumes

April 13, 2023 051/2023-PRE

CIRCULAR LETTER

Listed B3 Participants

Re.: Consolidation of the Fee Structure Incentive Program Rules for Large

Non-Day Trade Volumes

B3 informs you that in order to improve and simplify the process of disclosing instructions and rules to the market, this Circular Letter consolidates the information contained in the Circular Letters indicated below, related to the Fee Structure Incentive Program for Large Non-Day Trade Volumes.

Furthermore, it should be noted that there is no change to the rules in force, nor is there any impact on Listed B3 participants.

The following Circular Letters are hereby revoked:

• • 040/2021-PRE,dated April 22, 2021 - Fee Structure Incentive Program for Large Non-Day Trade Volumes; and
• 060/2021-PRE,dated May 25, 2021 - Changes to the Fee Structure Incentive Program for Large Non-Day Trade Volumes.

The rules, trading details and list of assets eligible for the Program can be found in the Annexes to this Circular Letter.

This document produces effects as of the date of its publication. Any specified time limits for validity shall apply.

This free translation into English from the original version in Portuguese is available for information purposes only, has not1 been reviewed by B3's legal counsel, and is therefore not legally binding. Any questions arising from this free translation

should be clarified by consulting the original version in Portuguese. In the event of any discrepancy between this free translation and the original version in Portuguese, the original version in Portuguese shall prevail.

INFORMAÇÃO PÚBLICA - PUBLIC INFORMATION

051/2023-PRE

Further information can be obtained from Support for Settlement Processes and Services by telephone on [phone] or by email at

[e-mail].

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

This document produces effects as of the date of its publication. Any specified time limits for validity shall apply.

This free translation into English from the original version in Portuguese is available for information purposes only, has not2 been reviewed by B3's legal counsel, and is therefore not legally binding. Any questions arising from this free translation

should be clarified by consulting the original version in Portuguese. In the event of any discrepancy between this free translation and the original version in Portuguese, the original version in Portuguese shall prevail.

INFORMAÇÃO PÚBLICA - PUBLIC INFORMATION

Annex l to CIRCULAR LETTER 051/2023-PRE

Rules to the Fee Structure Incentive Program for Large Non-Day Trade

Volumes

1. Accreditation

Investors registered and approved by B3 will have access to an exclusive price model and table to encourage them to execute large volumes of transactions characterized as non-day trades for fee structure purposes.

Residual quantities from transactions that meet the following criteria will be considered as non-day trades for fee structure purposes.

• Same trading session date
• Same clearing member
• Same participant (take-up in the case of give-ups)
• Same account code
• Same ISIN code
• Opposite legs

Day trade matching is performed on the minimum quantity in common. The residual quantity will be considered non-day trade.

This document produces effects as of the date of its publication. Any specified time limits for validity shall apply.

This free translation into English from the original version in Portuguese is available for information purposes only, has not been reviewed by B3's legal counsel, and is therefore not legally binding. Any questions arising from this free translation

should be clarified by consulting the original version in Portuguese. In the event of any discrepancy between this freeI translation and the original version in Portuguese, the original version in Portuguese shall prevail.

INFORMAÇÃO PÚBLICA - PUBLIC INFORMATION

051/2023-PRE

Investors wishing to take part in this program must request registration from one of their carrying brokers (Full Trading Participants or Settlement Participants). The participants will be responsible for accreditation on behalf of the investor by filing a request at the B3 Service Channel, also submitting the signed Instrument of Agreement, which is available at www.b3.com.br/en_us/, Products and Services, Fee schedules, Incentive Programs, Large Non-Day Traders Program.

The participants will be responsible for verifying the investor's signature and, when necessary, for verifying powers as needed.

When requesting participation in this program, by signing the Instrument of Agreement, the investor consents to the full disclosure of its trading volume among all its carrying brokers.

The investor will join this program only after B3 has approved the request. B3's Contact Center will inform the participants of the decision.

The investor must guarantee that all its carrying brokers request registration. If there is assignment of the service that a given carrying broker provides, the investor must also request de-accreditation from the program and of its link.

There is a monthly assessment to join the program. Requests submitted up until the 15th of a given month, or the previous business day, will be assessed by the end of that same month.

Requests submitted after that date will be assessed at the end of the following month. If approved, the investor will have access to the benefit as of the first business day of the month following that in which approval was granted.

This document produces effects as of the date of its publication. Any specified time limits for validity shall apply.

This free translation into English from the original version in Portuguese is available for information purposes only, has notII been reviewed by B3's legal counsel, and is therefore not legally binding. Any questions arising from this free translation

should be clarified by consulting the original version in Portuguese. In the event of any discrepancy between this free translation and the original version in Portuguese, the original version in Portuguese shall prevail.

INFORMAÇÃO PÚBLICA - PUBLIC INFORMATION

051/2023-PRE

1. General definitions of the program

1. NDT ADTV

The Non-Day Trade Average Daily Trading Volume (NDT ADTV) will measure each investor's non-day trading volume and the price tier at which the investor will pay.

The NDT ADTV for the period is calculated by the sum of the non-day trade volume in Brazilian Reals that the investor trades in the contracts listed in Annex II, including trades executed during auctions in the period between the first business day of month M and the last business day of month M, divided by the number of trading sessions in the period.

Therefore, for month M we have:

	Last BD
	∑First BDM	Non day trading volume (BRL)
NDTM_ADTV =	M
Number of Trading Sessions

The volume is consolidated by the investor (document), considering all its accounts independently of execution or carrying broker.

Trades executed as market maker are not considered in calculating the NDT ADTV, nor for calculating minimum requirements (item 2.2) or for defining the fee (item 3).

This document produces effects as of the date of its publication. Any specified time limits for validity shall apply.

This free translation into English from the original version in Portuguese is available for information purposes only, has notIII been reviewed by B3's legal counsel, and is therefore not legally binding. Any questions arising from this free translation

should be clarified by consulting the original version in Portuguese. In the event of any discrepancy between this free translation and the original version in Portuguese, the original version in Portuguese shall prevail.

INFORMAÇÃO PÚBLICA - PUBLIC INFORMATION