IRB Brasil Resseguros S A : Material Fact - Approval by SUSEP of the Closing of the Special Inspection

IRB-BRASIL RESSEGUROS S.A.

A PUBLICLY HELD COMPANY

Corporate Taxpayer's ID (CNPJ) No. 33.376.989/0001-91

Corporate Registry ID (NIRE) No.333.00309179

MATERIAL FACT

Approval by SUSEP of the Closing of the Special Inspection

Rio de Janeiro, April 7, 2021 - IRB-Brasil Resseguros SA (B3: IRBR3) ("IRB Brasil RE" or "Company"), under the terms of CVM Instruction 358/02, in addition to the Material Fact of May 11, 2020, announces that Brazil's Insurance Regulator ("SUSEP"), through Electronic Letter No. 04/2021/CGFIP/DIR4/SUSEP, informed that its Board of Directors, in an extraordinary meeting held on April 6, 2021, unanimously decided to approve the closure of the Special Inspection pursuant to article 89 of Decree-Law No. 73/66, to which IRB Brasil RE was subject.

On February 18, 2021, the Company had informed that, based on the Financial Statements of December 31, 2020, it had reached the regulatory framework regarding the liquidity ratios and coverage of technical provisions. The insufficiency of assets guaranteeing the technical provisions, which generated the aforementioned Special Inspection, was informed to the market on May 11, 2020, after the Company was officiated by SUSEP.

During the entire period, the Company kept the market duly informed about its situation in relation to compliance with current rules and adopted all necessary measures to solve the matter as soon as possible.

The closure of the Special Inspection installed by SUSEP represents a fundamental milestone in the recovery process of the Company, with more than 80 years of existence, as a result of the intense work of the entire IRB Brasil RE Management, together with the support of its employees, partners, customers, shareholders and other stakeholders.

IRB-BRASIL RESSEGUROS S.A.

Werner Romera Süffert

Chief Financial and Investor Relations Officer

Investor Relations | [e-mail]| [phone]/0211/0209