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Investor Presentaiton

Regulatory scenario The 2019/2020 crop year was decisive for the National Policy on Biofuels (RenovaBio) which aims to foster expansion of the production and use of biofuels in the domestic energy matrix. The program came on stream in 2020 following the beginning of the processes involving guarantees, registration, bookkeeping and sale of Decarbonization Credits (CBIO) on B3 S.A. Brasil, Bolsa, Balcão (B3). More information in Vision of the future. Another material regulatory aspect was the publication of Resolution 777 of April 5, 2019 regulating foreign trade in biofuels, oil and their byproducts, while also governing requests for imports and exports (more here). Resolution No. 805, dated December 20, 2019, sets the parameters for the investigative and trial phases of punitive administrative proceedings within the scope of the National Oil, Natural Gas and Biofuel Agency - ANP (more here). Also in the period, supplementary bill of law (PLP) No. 8/20 was instituted, bringing forward to 2021 the rights of consumers to avail of credits on State VAT (ICMS) tax arising from operations involving goods intended for the company's use or consumption, electricity and communication services. The proposal amends the Kandir Law that provided for taxpayer rights to the credit to begin only in 2033. For 2020, the National Council for Tax Policy (Confaz) agreed to extend ICMS Tax Arrangement No. 100/1997 until December 31, 2020. The measure provides for tax exemption on internal transactions and reduces State VAT tax levied on interstate sales of agriculture and livestock inputs. 24
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