Banco do Brasil S. A announced the commencement of an offer by HSBC Securities (USA) Inc. (the "Purchaser") to purchase, up to the Aggregate Offer Limit (as defined below) of the (i) outstanding 3.875% Senior Notes due 2022 (the "2022 Notes") issued on October 10, 2012 by the Bank (the "2022 Offer"); (ii) outstanding 4.875% Senior Unsecured Notes due 2023 (the "2023 Notes") issued on April 19, 2018 by the Bank (the "2023 Offer"); and (iii) outstanding 4.750% Senior Unsecured Notes due 2024 (the "2024 Notes" and, together with the 2022 Notes and the 2023 Notes, the "Notes") issued on March 20, 2019 by the Bank (the "2024 Offer" and, together with the 2022 Offer and the 2023 Offer, the "Offers"), upon the terms and subject to the conditions described in the Offer to Purchase dated September 13, 2021 (as it may be amended or supplemented from time to time, the "Offer to Purchase") and the accompanying Letter of Transmittal dated September 13, 2021 (as it may be amended or supplemented from time to time, the "Letter of Transmittal" and, together with the Offer to Purchase, the "Offer Documents"). As used herein, the "Aggregate Offer Limit" is the maximum aggregate principal amount of Notes of the relevant series that can be purchased in accordance with the terms of the Offers such that the aggregate Total Consideration (as defined below) and aggregate Purchase Price (as defined below), excluding Accrued Interest (as defined in the Offer to Purchase), payable pursuant to the terms of the Offers shall not exceed U.S.$750.0 million. The Purchaser reserves the right, but is under no obligation, to increase the Aggregate Offer Limit at any time, subject to compliance with applicable law, which could result in the Purchaser purchasing a greater aggregate principal amount of Notes in the Offers. There can be no assurance that Purchaser will increase the Aggregate Offer Limit. If the Purchaser increases the Aggregate Offer Limit, the Withdrawal Deadline is not expected to be extended, subject to applicable law. If the Offers are fully subscribed as of the Early Tender Time pursuant to the operation of the Aggregate Offer Limit, Holders who validly tender Notes after the Early Tender Time will not have any of their Notes accepted for purchase, provided that such Notes may be accepted for purchase if the Purchaser increases the Aggregate Offer Limit, which the Purchaser is entitled to do. There can be no assurance that the Purchaser will increase the Aggregate Offer Limit. Any Notes tendered pursuant to an Offer that are not accepted and purchased by the Purchaser as a result of the operation of the proration provisions applicable to the Offers shall be promptly returned to the relevant tendering Holders following the Expiration Time. Subject to the terms and conditions of the Offers, the total consideration for each U.S.$1,000 principal amount of the 2024 Notes validly tendered and not validly withdrawn is U.S.$1,073.10 (the "2024 Total Consideration" and, together with the 2022 Total Consideration and the 2023 Total Consideration, the relevant "Total Consideration"), which includes an early tender payment of U.S.$30.00 per U.S.$1,000 principal amount of the 2024 Notes (the "2024 Early Tender Payment" and together with the 2022 Early Tender Payment and the 2023 Early Tender Payment, the relevant "Early Tender Payment") and the 2024 Purchase Price (as defined below and, together with the 2022 Purchase Price and the 2023 Purchase Price, each, the "Purchase Price"). The 2024 Early Tender Payment is payable only to Holders who tender and validly deliver their 2024 Notes on or prior to the Early Tender Time. Holders validly tendering and not withdrawing their 2024 Notes at or before the Early Tender Time will be eligible to receive the 2024 Total Consideration (including the 2024 Early Tender Payment) on the Early Settlement Date (which date is expected to be within one business day after the Early Tender Time, but which the Purchaser may change without notice). Holders validly tendering and not withdrawing their 2024 Notes after the Early Tender Time and prior to or at the Expiration Time will be entitled to receive U.S.$1,043.10 per U.S.$1,000 principal amount of the 2024 Notes (the "2024 Purchase Price"), namely an amount equal to the 2024 Total Consideration less the 2024 Early Tender Payment, on the Final Settlement Date (which date is expected to be within two business days after the Expiration Time, but which the Purchaser may change without notice).