ULTRAPAR PARTICIPAÇÕES S.A.

MATERIAL NOTICE

Financial guidance for 2021

São Paulo, February 24, 2021 - Ultrapar Participações S.A. (B3: UGPA3 / NYSE: UGP, "Company"), in compliance with Instructions 358/02 and 480/09 issued by the Brazilian Securities and Exchange Commission (CVM), as amended, hereby discloses the EBITDA guidance for 2021:

EBITDA

2021

(R$ million)

Ultrapar¹

3,800

≤ ∆≤

4,650

I piranga¹

2,100

≤ ∆ ≤

2,500

Oxiteno¹

800

≤ ∆ ≤

1,100

Ultragaz¹

670

≤ ∆ ≤

750

Ultracargo

340

≤ ∆ ≤

370

Extrafarma

100

≤ ∆ ≤

140

Holding and Others

(210)

Note 1: Adjusted EBITDA

The main assumptions adopted to formulate the guidance for 2021 are presented below and were defined during the budgeting process of the Company, which was concluded at the end of 2020. The primary sources of information were reports of specialized consultant firms and the Focus report published by the Central Bank of Brazil.

  • Exchange rate of R$ 5.30/USD

  • Brazilian GDP growth of 2.2%

  • Annual inflation of 3.0% (IPCA)

In addition, the Company will not use the zero cost collar structure for Oxiteno in 2021.

The projections are based in information currently available, estimates and assumptions of the Company's executive board, and do not include the effects of potential acquisitions or divestments. Such estimates are not guarantee of performance and involve risks and uncertainties, since they refer to future events and depend on circumstances which may or may not occur. General economic conditions and market conditions, among other factors, may lead to results which differ materially from the numbers disclosed.

Rodrigo de Almeida Pizzinatto

Chief Financial and Investor Relations Officer

Ultrapar Participações S.A.

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Disclaimer

Ultrapar Participações SA published this content on 24 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 February 2021 03:35:08 UTC.