Jereissati Participações S.A. (BOVESPA:JPSA3) entered into the Protocol and Justification of the Merger to acquire remaining 49.27% in Iguatemi Empresa de Shopping Centers S.A. (BOVESPA:IGTA3) on August 31, 2021. Exchange ratio is set to 0.15964 common share and 0.31929 proffered share. Iguatemi Empres shall be absorbed by Jereissati, turning Iguatemi Empres into a wholly-owned subsidiary.

Special independent statutory committee approved the transaction. Jereissati's management also hired Meden Consultoria Empresarial Ltda for appraisal. The Board of Directors of the Companies understands that the exchange ratio negotiated by IESC Independent Committee with Jereissati's management is fair and unbiased.

The Companies clarify that Jereissati is being advised by XP Investimentos and IESC by BTG Pactual in the Transaction.