ULTRAPAR PARTICIPAÇÕES S.A.

MARKET ANNOUNCEMENT

Update on Oxiteno's sale

São Paulo, March 7, 2022 - Ultrapar Participações S.A. (B3: UGPA3; NYSE: UGP, "Ultrapar") announces, as a complement to the Material Notice of August 16, 2021, that, on this date, the General Superintendence ("SG") of the Administrative Council of Economic Defense ("CADE") approved the sale of Oxiteno S.A. - Indústria e Comércio ("Oxiteno") to Indorama Ventures PLC without restrictions.

Provided there are no appeals by third-parties or by the CADE Court, the approval will become final within 15 days of the publication of the SG's recommendation. After this period, and once the other precedent conditions set forth in the Oxiteno's sales agreement are fulfilled, the parties will implement the closing of the transaction.

Ultrapar will maintain its shareholders and the market in general timely informed of any material updates related to this matter.

Rodrigo de Almeida Pizzinatto

Chief Financial and Investor Relations Officer

Ultrapar Participações S.A.

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Ultrapar Participações SA published this content on 07 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 March 2022 12:19:04 UTC.