Sul America S A : Distance Voting Bulletin – EGM

Name of Shareholder

Individual or Corporate Taxpayer's ID of Shareholder Instructions to complete the form

EMAIL OF THE SHAREHOLDER: ________________________________

(It is mandatory to inform the email address of the Shareholder for the direct communication between the Company and the shareholder)

The present remote ballot paper must be filled out by shareholders who choose to exercise their right to vote remotely and submitted until March 22, 2021, in accordance with the following instructions. In this case, it is mandatory to fill out the fields above informing the name (or corporate name) and the individual or corporate Taxpayer's Registry number of the shareholder.

In addition to that, for this ballot paper to be considered valid and the votes cast herein be counted in the quorum of the General Meeting:

- all fields below must be filled out; and

- in case the remote ballot paper is sent directly to the Company, it must be initialed on all pages, manually signed by the shareholder or its legal representative and with signatures certified by the notary public, or electronically signed by means of a digital certificate issued by an entity authorized by the Brazilian Public Keys Infrastructure - ICP-Brazil.

In case the remote ballot paper, sent directly to the Company, is not completely filled out, or lacking the support documents as provided for below, it will be disregarded and such information will be sent to the shareholder via their contact email here informed.

We emphasize that, in case of inconsistency between the remote ballot paper received directly by the Company and any voting instructions sent to the custodians or the bookkeeping agent of the shares or units of the Company, the latter shall prevail.

If deemed required, the shareholder may, untill March 22, 2021, rectify or resend the remote ballot paper and the accompanying documents.

If the shareholder chooses to attend the Meeting in person or by proxy, after sending the remote ballot paper, the remote voting instruction received by the Company may be disregarded.

Other clarifications, access to the Management Proposal and other documents related to the Shareholders' Meeting on the Company's investor relations website (www.ri.sulamerica.com.br), on the CVM website (www.cvm.gov.br), and on the B3 website (www.b3.com.br).

Guidelines to deliver the form, indicating the ability to send directly to the Company or send instructions for the completion of the form by the registrar or custodian

- Remote ballot paper sent directly to the Company

Shareholders who choose to send the remote ballot paper directly to the Company shall send:

(i) printed copy of the remote ballot paper duly filled out, initialed on all pages, manually signed by the shareholder or its legal representative and with signatures certified by the notary public, or electronically signed by means of a digital certificate issued by an entity authorized by the Brazilian Public Keys Infrastructure - ICP-Brazil; and

(ii) copy of the following documents:

Individual shareholder: i. evidence of the custodian of the shares or units of Sul América S.A. containing information on the ownership and number of shares or units of the Company; and ii. ID card of the shareholder and, as the case may be, proxy and the ID card of the attorney in fact.

Legal entity shareholder: i. evidence of the custodian of the shares or units of Sul América S.A. containing information on the ownership and number of shares or units of the Company; ii. updated bylaws or articles of association, duly filed with the board of trade or applicable registry; iii. a document evidencing the powers of representation: minutes of the election of the legal representative(s) that is present or that executed the power of attorney, if applicable; iv. for investment funds, the relevant regulations and the abovementioned documents in relation to the administrator; and v. ID of the legal representative and, as the case may be, proxy and the ID card of the attorney in fact present.

- Remote ballot paper sent through custodians or bookkeeping agents

The shareholders must contact their custodians and confirm the procedures established by them for issuance of voting instructions via remote ballot paper. Itaú Corretora de Valores S.A., the bookkeeping agent of the shares and units of the Company, has made available a website for shareholders who wish to exercise their voting rights remotely. Please accesswww.itau.com.br/securitiesservices, select "Shares", and then click on "Digital Shareholder Meeting".

The Company clarifies that, according to the applicable legislation, B3 S.A. - Brasil, Bolsa, Balcão ('B3") shall, upon receiving voting instructions from the shareholders through their respective custodians, disregard any instructions that contain inconsistencies regarding the same resolution that have been issued by the same shareholder.

Postal and e-mail address to send the remote voting form, if the shareholder wishes to deliver the document directly to the company

E-mail address:[e-mail]

Postal address:

Sul América S.A.

Superintendência de Governança Corporativa e Societária - SUGOC Phone #: [phone]

Rua Beatriz Larragoiti Lucas No 121, Ala Sul - 1º andar Cidade Nova, Rio de Janeiro - RJ

CEP 20211-903

To shareholders who choose to send the voting bulletin directly to the Company, we request that they do so preferably through the electronic [e-mail].

Indication of the institution hired by the company to provide the registrar service of securities, with name, physical and electronic address, contact person and phone number

Itaú Corretora de Valores Mobiliários S.A.

Shareholders Service: At branches of Itaú Bank, or through the investor specific Service Channel and with the convenience of the Digital Channels, indicated below.

. Service Channel: 3003-9285 for capital cities and metropolitan regions and 08007209285 for others regions.

. Digital Channels: account holders may consult the information through the bankline (www.itau.com.br), if the investor is non-account holder the information will be available on the Itaú Corretora website (www.itaucorretora.com.br)

Electronic address:www.itau.com.br/securitiesservices

Resolutions / Matters concerning the ASM Simple Resolution

1. To approve the increase of the Company's capital stock, in the amount of R$1,000,000,000.00, through the capitalization of part of the balance of the Statutory Reserve, being attributed to its shareholders as bonus, 72,833,212 new shares, of which 36,506,376 common shares, and 36,326,836 preferred shares, with no par value, at the ratio of 60.4575212 new common shares to each lot of 1,000 commons shares and 60.4575212 new preferred shares to each lot of 1,000 preferred shares, the shares resulting from the bonus being automatically constituted in units, keeping the proportion of one (1) commons share and two (2) preferred shares per unit.

[

] Approve

[

] Refuse

[

] Abstain

Simple Resolution

2. To approve the amendment to the following article of the Company's bylaws:

(a) article 5, to reflect the capital stock increase approved by the Board of Directors at ameeting held on November 23, 2020 and the capital stock increase proposed in item 1 above.

[

] Approve

[

] Refuse

[

] Abstain

Simple Resolution

2. To approve the amendment to the following article of the Company's bylaws:

(b) article 14, to include as a competence of the Company's Board of Directors the statement on the terms and conditions of corporate events and other transactions that may give rise to a change in the Company's control and, due to the amendment to article 21 proposed below, exclude the competence of item "t" of article 14.

[

] Approve

[

] Refuse

[

] Abstain

Simple Resolution

2. To approve the amendment to the following article of the Company's bylaws:

(c) article 21, to improve the wording concerning the Company's legal representation.

[

] Yes

[

] No

[

] Abstain

Simple Resolution

3. To approve the consolidation of the Company's bylaws, to reflect the changes proposed in item 2, letters (a), (b) and (c) above.

[

] Yes

[

] No

[

] AbstainCity: _____________________________________________________________________ Date: ____________________________________________________________________ Signature: ________________________________________________________________ Name of the Shareholder: _______________________________________________________________ Individual/Corporate Taxpayer's ID: _______________________________________________________