Sul América S.A. (BOVESPA:SULA11) made a binding offer to acquire HB Saúde S/A for approximately BRL 490 million on August 30, 2021. As of September 15, 2021, Sul América S.A., has increased the bid price to BRL 563 million. Transaction is subject to approval by the shareholders of HB Saúde by at least 50% plus one share of the voting and total capital of HB Saúde at an extraordinary general meeting to be convened on September 23, 2021. The transaction is also subject to usual due diligence satisfaction and approval from competent regulatory bodies. The transaction is not subject to approval of general shareholders of Sul América S.A., and does not entail the right of withdraw to its shareholders, according to the current legislation.