Ultrapar Participações S A : End of negotiations for the acquisition of REFAP

ULTRAPAR PARTICIPAÇÕES S.A.

MATERIAL NOTICE

End of negotiations for the acquisition of REFAP

São Paulo, October 1, 2021 - Ultrapar Participações S.A. (B3: UGPA3 / NYSE: UGP, "Ultrapar" or "Company"), pursuant to CVM Resolution 44/21, announces that it has ended the negotiations with Petróleo Brasileiro S.A. - Petrobras for the acquisition of Alberto Pasqualini Refinery ("Refap"), which had started at the beginning of the year, as informed in the Material Notice disclosed by the Company on January 19, 2021.

Despite the effort deployed by both parties during this process, certain critical conditions defined in the Company's binding proposal were not confirmed throughout the negotiations, unbalancing the expected risk and return equation. Therefore, Ultrapar informs that it will not renew its binding proposal, and opted to cease the ongoing negotiations, with no penalties for either party.

Ultrapar is concluding its portfolio rationalization with divestments underway of Oxiteno, Extrafarma and ConectCar. With a more complementary and synergistic portfolio, Ultrapar will significantly reduce its financial leverage, increasing its investment capacity. Accordingly, Ultrapar will continue to invest in the growth of the existing platform in the energy and infrastructure sectors through Ipiranga, Ultragaz and Ultracargo, as well as in new business opportunities leveraged in the Brazilian energy matrix transition. The Company will also continue to monitor the developments of Petrobras' assets sale program.

Rodrigo de Almeida Pizzinatto

Chief Financial and Investor Relations Officer

Ultrapar Participações S.A.