Gerdau S.A. (“Gerdau” or the “Company”) hereby announces the final results of the previously announced offer by the Company to purchase for cash (the “Tender Offer”) up to a maximum tender consideration of U.S. $500,000,000 of certain of the outstanding 4.750% Bonds due 2023 (the “2023 Bonds”) issued by issued by Gerdau Trade Inc. (“GTI”), 5.893% Bonds due 2024 (the “2024 Bonds”) issued jointly by Gerdau Holdings Inc. (“GHI”) and GTL Trade Finance Inc., (“GTL”) and the 4.875% Bonds due 2027 (the “2027 Bonds”, and together with the 2023 Bonds and the 2024 Bonds, the “Bonds” and each, a “series” of Bonds) issued by GTI (GTI, GHI and GTL, collectively, the “Offerors”). The Tender Offer was made pursuant to the offer to purchase dated November 4, 2021 (the “Offer to Purchase”). Capitalized terms used but not defined in this press release shall have the meanings assigned to them in the Offer to Purchase. Gerdau will deliver cash with respect to such validly tendered and accepted Bonds on December 7, 2021. On the Final Settlement Date, eligible holders of Bonds that were validly tendered in the Tender Offer after the Early Tender Date but before the Expiration Date, and whose Bonds were accepted for purchase, will be entitled to receive the tender consideration for the Bonds of each series (the “Tender Offer Consideration”) as determined in the manner described in the Offer to Purchase by reference to the applicable fixed spread specified for such series on the table above over the yield based on the bid-side price of the applicable U.S. Treasury Security specified for such series on the table above, as calculated by the Dealer Managers (as defined in the Offer to Purchase) at 10:00 a.m., New York City time, on November 18, 2021 (subject to certain exceptions set forth in the Offer to Purchase) for each U.S.$1,000 principal amount of the Bonds. In addition, such eligible holders will be entitled to receive a cash payment equal to the accrued and unpaid interest on such Bonds up to, but not including, the Final Settlement Date. Gerdau and the Offerors previously accepted and cancelled on the Early Settlement Date Bonds in the following principal amounts: (i) $89,726,000 in 2023 Bonds, (ii) $152,717,000 in 2024 Bonds and (iii) $146,795,000 in 2027 Bonds. Payment for such Bonds was delivered on the Early Settlement Date, November 22, 2021. The Tender Offer expired at 11:59 p.m. New York City time, on December 3, 2021.