Ultrapar Participações S A : Minutes of the meeting of the Board of Directors

ULTRAPAR PARTICIPAÇÕES S.A.

Publicly Traded Company

CNPJ Nr. 33.256.439/0001 -39

NIRE 35.300.109.724

MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS

Date, Hour and Place :

September 22, 2021, at 2:30 p.m., at the Company's headquarters, located at Brigadeiro Luís Antônio Avenue, Nr. 1,343, 9th floor, in the City of and State of São Paulo, also contemplating participation through Microsoft Teams .

Members in Attendance :

1. Members of the Board of Directors undersigned ; (ii) Secretary of the Board of Directors, Mr . André Brickmann Areno; (iii) Chief Executive Officer, Mr. Frederico Pinheiro Fleury Curado; (i v) Chief Financial and Investor Relations Officer, Mr. Rodrigo de Almeida Pizzinatto; and (v) in relation to item 1, Risks, Compliance and Audit Officer, Mrs. Cristiane Silva Leite, and Compliance Manager, Mrs. Fernanda Teves .

Matters discussed and resolutions :

1. The members of the Board were updated on the Company's compliance program, in particular its main milestones, the activities of the open channel and special projects.

2. Approved, in accordance with the stock -based compensation plan of the Company approved at the Company's Annual and Extraordinary General Shareholders' Meeting held on April 19, 2017 ("Plan"), on item

4.2 of the Plan:

(Mi nut e s of t he Me eti ng of t he Boa rd of Di rect ors of Ul t rapa r Pa rti cip aç ões S . A . ,

he l d on S ep te mb e r 22, 2021)

1. the Company's 5th Restricted Share -based Compensation Program ("5th Restricted Shares Program") which will be filed at the Company's headquarters and stipulates, among other provisions, the institution of the usufruct of the equity rights of all shares, object of the 5th Restricted Shares Program in favor of the participants; the vesting period of six years from the date of execution of the respective contract for the transfer of the ownership of the shares established in usufruct; and price and payment method to the participants; always in accordance with the provisions of the Plan;
2. the list, which is filed at the Company's headquarters, containing the participants designated to participate in the 5th Restricted Shares Program and the equivalent number of shares, as indicated by the Company's People Committee, authorizing the execution of the agreements between the Company and each participant of the program hereby approved, according to the minutes filed at the Company's headquarters, as well as the granting of usufruct and delivery of shares, under the terms and conditions provided in each agreement.

3. Afterwards, the Board of Directors discussed important organizational changes in the Company's management . In this sense, Mr. Frederico Curado proposed to the Board the creation of a new position in the Board of Executive Officers, responsible for sustainability, institutional relations, communications, legal, compliance, risks and internal audit, reporting to the Chief Executive Officer. To occupy such position, Mr. Frederico Curado submitted to the Board of Directors the name of Mr. Marcelo Pereira Malta de Araújo.

(Mi nut e s of t he Me eti ng of t he Boa rd of Di rect ors of Ul t rapa r Pa rti cip aç ões S . A . ,

he l d on S ep te mb e r 22, 2021)

4. To assume the position of Executive Officer of the Company and Chief Executive Officer at Ipiranga, Mr. Frederico Curado indicated Mr. Leonardo Remião Linden, Brazilian, married, business administrator, Identity Card RG under Nr. 1010446621-SSP/RS and enrolled on CPF/ME under Nr. 452.601.500-82, with professional address on Rua Francis co Eugênio, Nr. 329, in the City of and State of Rio de Janeiro, Postal Code 20941-900.

5. The Board approved the appointment of Mr. Marcelo Araújo and Mr. Leonardo Linden to the exercise of such functions and their respective remunerations, as recommended by the People Committee, as from October 11, 2021. Said executive officers shall remain in their position until the mandate term of the current officers, until the holding of the Annual General Shareholders' Meeting to be held in 2023, which will cover documents referred in article 133 of Brazilian Corpora te Law, referred to the period ended on December 31, 2022 .

6. Immediately thereafter, the Chairman of the Board of Directors informed the Board members that the Company's Vice President of the Board of Directors, Mr. Lucio de Castro Andrade Filho, has decided to leave the Board as of January 3rd, 2022. Such decision is part of the planned transition process of leadership of the Board of Directors, as announced in March of this year.

7. The Directors acknowledged to the decision of the Vice -Chairman and expressed their votes of gratefulness for his commitment, dedication, guidance and competency throughout the years he acted as manager of the Company and its subsidiaries.

(Mi nut e s of t he Me eti ng of t he Boa rd of Di rect ors of Ul t rapa r Pa rti cip aç ões S . A . ,

he l d on S ep te mb e r 22, 2021)

8. To replace him, the Board unanimously approved the appointment of Mr. Frederico Pinheiro Curado, Brazilian, married, engineer, Identity Card RG under Nr. 15.227.738/SSP -SP and enrolled on CPF/ME under Nr. 267.002.121 -20, with professional address at Brigadeiro Luís Antônio Avenue, Nr. 1,343, 9th floor, in the City of and State of São Paulo (Postal Code 01317-910), to act as Vice- Chariman, with mandate term from January 3, 2022 until the mandate term of the Board of Directors currently in office is completed. Once Mr. Frederico Curado assumes such position, he will occupy the positions on the People Committee and the Conduct Committee of the Company .

9. Continuing with the planned process of succession of the management of the Company, the Chairman of the Board of Directors submitted for the approval of the members present the election of Mr. Marcos Marinho Lutz, Brazilian, married, engineer, Identity Card RG under Nr. 15.649.492-9/SSP-SP and enrolled on CPF/ME under Nr. 147.274.178-12, with professional address at Brigadeiro Luís Antônio Avenue, Nr. 1,343, 9th floor, in the City of and State of São Paulo (Postal Code 01317-910) to act as Chief Executive Officer, with mandate term from January 3, 2022 until the mandate term of the Executive Board currently in office is completed. The election aims to prepare him for a potential recommendation of the Board of his name as Chairman position of the Board of Directors in the future.

10. The process of a planned succession of the management of the Company has been regularly conducted in the management of the Company and of its businesses. The appointment of Mr. Marcos Lutz represents an important step for the preparation of the executives and the continuity of Ultrapar's management and business philosophy.

(Mi nut e s of t he Me eti ng of t he Boa rd of Di rect ors of Ul t rapa r Pa rti cip aç ões S . A . ,

he l d on S ep te mb e r 22, 2021)

Notes: (i) The resolutions were approved, with no amendments or qualifications, by all the Board members, except from resolutions of items 9 and 10, of which Mr. Marcos Lutz abstained fro m voting; and (ii) previously consulted, Mrs. Frederico Pinheiro Fleury Curado, Marcos Marinho Lutz and Leonardo Remião Linden informed that, (a) they are not incurred any offense that prevents them from carrying out the duties inherent to the positions for which they were appointed, (b) they do not hold any position in companies that may be considered competitors of the Company and (c) they have no conflict of interest with the Company, in accordance with article 147 of Law Nr. 6,404/76.

There being no further matters to discuss, the meeting was concluded, and these minutes were written, read, passed, and signed by all the Board members present.

Pedro Wongtschowski - Chairman

Lucio de Castro Andrade Filho - Vice-Chairman

Alexandre Teixeira de Assumpção Saigh

Ana Paula Vitali Janes Vescovi

Flávia Buarque de Almeida