Notice to the Market - Expiration - Subscription Bonus Term

Notice to the Market

Minerva S.A. ("Minerva" or "Company"), regarding the Subscription Warrants issued as an additional advantage to the subscribers of Company shares in the capital increase ratified at the Board of Directors' Meeting of December 20, 2018 ("Subscription Warrants"), and further to the previous notices on the matter, including the Notices to Shareholders Holding Subscription Warrants released on December 20, 2018, January 13, 2020, and December 15, 2020 ("Notice 12.15.2020"), hereby reiterates and clarifies to Subscription Warrant holders and the market in general that:

Under the previous notices, the Subscription Warrants are valid for three (3) years as of their issue date, i.e. until December 21, 2021 ("Maturity Date"), noting that, after the Maturity Date, Subscription Warrants not exercised will automatically lose effectiveness and be canceled, with no need for any additional formality.

Given the proximity of the Maturity Date, the Company considers it appropriate to emphasize to the holders of remaining Subscription Warrants who want to exercise them that the dates scheduled for exercise and respective ratification by the Board of Directors, in line with Notice 12.15.2020 are as follows:

¹Subscription Warrant holders who want to exercise this right must do so until the second (2nd) business day before the date scheduled for each Board of Directors' meeting for ratification (item 3.4 of Notice 15.12.2020).
²Maturity Date of the Subscription Warrants (item 2.2 of Notice 12.15.2020).

Moreover, the Company takes this opportunity to emphasize that, as explained in the Notice to Shareholders of November 4, 2021, the current exercise price of the Subscription Warrants is five reais and four centavos (R$5.04), considering the adjustment mechanisms resulting from proceeds distributed by the Company.

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