PagSeguro Digital Ltd. announced that board of directors has appointed Chief Operating Officer Alexandre Magnani as co-Chief Executive Officer of the company, reporting to the newly formed Executive Committee of PagSeguro's Board of Directors composed of Luiz Frias, Eduardo Alcaro and Ricardo Dutra. Mr. Dutra will maintain his role as co-CEO during a certain period, providing support to Mr. Magnani and leading the company's quarterly results presentations. PagSeguro's Chief Financial and Investor Relations Officer and Chief Accounting Officer, Artur Schunck, will also report to the Executive Committee.

These senior management changes are effective as of January 10, 2022. The Executive Committee will serve as an administrative committee of PagSeguro's Board of Directors to act upon and facilitate the consideration by senior management and the Board of Directors of certain high-level business and strategic matters.