Gerdau S.A. announced the commencement of an offer to purchase for cash up to a maximum amount of U.S.$500,000,000 of the outstanding (i) 4.750% Bonds due 2023 issued by Gerdau Trade Inc.; (ii) 5.893% Bonds due 2024 (the "2024 Bonds") issued jointly by Gerdau Holdings Inc. ("GHI") and GTL Trade Finance Inc. and, (iii) subject to a $200,000,000 sublimit, the 4.875% Bonds due 2027. In addition, Holders whose Bonds are purchased in the Tender Offer will receive accrued and unpaid interest in respect of their purchased Bonds from the last interest payment date to, but not including, (i) in the case of any Bonds tendered at or before the Early Tender Date, the Final Settlement date or the Early Settlement Date (should the Issuers elect to make a payment on the Early Settlement Date) and (ii) in the case of any remaining Bonds tendered after the Early Tender Date, the Final Settlement Date, as the case may be.