Fleury S.A. (BOVESPA:FLRY3) agreed to acquire Instituto Hermes Pardini S.A. (BOVESPA:PARD3) from Pardini family and others for BRL 2.4 billion on June 30, 2022. As per the transaction, Fleury S.A. will pay BRL 2.15 per in cash and will issue 1.213542977 common share to each shareholder of nstituto Hermes Pardini S.A. The transaction is subject to shareholder approval of Fleury S.A. and Instituto Hermes Pardini S.A., third party approvals, regulatory approvals and approval by Administrative Council for Economic Defense – CADE. As of August 18, 2022, Transaction has been approved by shareholders of Fleury S.A. and Instituto Hermes Pardini S.A. As of March 23, 2023, CADE has approved the transaction. Citigroup Global Markets Brasil Corretora de Câmbio, Títulos e Valores Mobiliários S.A. and Genial Institucional CCTVM S.A. acted as financial advisors and Barbosa, Müssnich & Aragão Advogados acted as legal advisor to Fleury S.A. Madrona Advogados, Ochman Advogados and Tavernard Advogados acted as legal advisors to Instituto Hermes Pardini S.A. and its controlling shareholders.

Fleury S.A. (BOVESPA:FLRY3) completed the acquisition of Instituto Hermes Pardini S.A. from Pardini family and others on April 28, 2023.