Raízen S A : Dados Econômico-Financeiros

Raízen S.A.

Interim financial

information as of December 31, 2022.

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Contents

Independent auditor's review report on quarterly information	.................................1
Statements of financial position	3
Statements of income	5
Statements of comprehensive income	7
Statements of changes in equity	9
Statements of cash flows - Indirect method	11
Statements of value added	12
Notes from management to the interim financial information	13

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Av. Presidente Juscelino Kubitschek, 1.909

Vila Nova Conceição

04543-011 - São Paulo - SP - Brasil

Tel: [phone] ey.com.br

A free translation from Portuguese into English of independent auditor's review report on quarterly information prepared in Brazilian currency in accordance with accounting practices adopted in Brazil and the International Financial Reporting Standards (IFRS)

Independent auditor's review report on quarterly information

To the

Management and Shareholders of

Raízen S.A.

Introduction

We have reviewed the accompanying individual and consolidated interim financial information, contained in the Quarterly Information Form (ITR) of Raízen S.A. (the "Company") for the quarter ended December 31, 2022, comprising the statement of financial position as of December 31, 2022 and the related statements of income and of comprehensive income (loss) for the three and nine-month periods then ended, and of changes in equity and of cash flows for the nine-month period then ended, including explanatory notes.

Management is responsible for preparation of the individual and consolidated interim financial information in accordance with Accounting Pronouncement NBC TG 21 - Interim Financial Reporting, and IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board (IASB), as well as for the fair presentation of this information in conformity with the rules issued by the Brazilian Securities and Exchange Commission (CVM) applicable to the preparation of the Quarterly Information Form (ITR). Our responsibility is to express a conclusion on this interim financial information based on our review.

Scope of review

We conducted our review in accordance with Brazilian and international standards on review engagements (NBC TR 2410 and ISRE 2410 - Review of Interim Financial Information performed by the Independent Auditor of the Entity, respectively). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with auditing standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion on the individual and consolidated interim financial information

Based on our review, nothing has come to our attention that causes us to believe that the accompanying individual and consolidated interim financial information included in the quarterly information referred to above are not prepared, in all material respects, in accordance with NBC TG 21 and IAS 34 applicable to the preparation of Quarterly Information Form (ITR), and presented consistently with the rules issued by the Brazilian Securities and Exchange Commission (CVM).

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Other matters

Statements of value added

The abovementioned quarterly information include the individual and consolidated statement of value added (SVA) for the nine-month period ended December 31, 2022, prepared under Company's management responsibility and presented as supplementary information by IAS 34. These statements have been subject to review procedures performed together with the review of the quarterly information with the objective to conclude whether they are reconciled to the interim financial information and the accounting records, as applicable, and if its format and content are in accordance with the criteria set forth by NBC TG 09 - Statement of Value Added. Based on our review, nothing has come to our attention that causes us to believe that they were not prepared, in all material respects, consistently with the overall individual and consolidated interim financial information.

São Paulo, February 14, 2023.

ERNST & YOUNG

Auditores Independentes S/S Ltda.

CRC-2SP034519/O

Original report in Portuguese signed by

Uilian Dias Castro de Oliveira

Accountant CRC-1SP223185/O

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RAÍZEN S.A.

Statements of financial position as of December 31, 2022

In thousands of Reais - R$

					Individual				Consolidated
	Note	12/31/2022	03/31/2022	12/31/2022	03/31/2022
Assets
Current assets
Cash and cash equivalents	3		219,725	578,004	4,902,799	8,234,568
Securities	4.a	-	-	9,588	87,529
Restricted cash	4.b	188,184	326,055	1,336,786	2,279,632
Derivative financial instruments	27		136,588	154,842	4,357,885	5,409,266
Trade accounts receivable	5.a	2,866,665	2,338,361	9,916,497	6,271,015
Inventories	6		3,705,745	2,983,519	16,013,506	9,931,945
Advances to suppliers	14.b	96,994	2,825	671,563	4,215,961
Biological assets	7		-	-	3,254,850	3,913,957
Recoverable income tax and social
contribution	17.b	4,707	352,937	670,932	605,854
Recoverable taxes	8		2,374,583	1,595,810	5,031,607	3,325,080
Dividends receivable			5,152	110,610	4,218	4,287
Related parties	9.a	1,192,745	984,683	1,220,462	975,556
Assets from contracts with clients	10		435,276	420,514	564,348	555,612
Other receivables			645,809		483,173		1,453,991		1,235,078
Total current assets			11,872,173	10,331,333	49,409,032	47,045,340
Non-current assets
Trade accounts receivable	5.a	285,381	270,356	400,221	366,823
Securities	4.a	-	-	136,602	-
Derivative financial instruments	27		1,204,848	976,060	2,665,398	2,082,299
Recoverable taxes	8		1,724,071	1,267,315	2,487,085	2,091,851
Related parties	9.a	688,173	681,517	1,075,462	1,110,082
Advances to suppliers	14.b	-	-	197,446	190,506
Assets from contracts with clients	10		1,995,912	1,930,565	2,689,883	2,530,981
Recoverable income tax and social
contribution	17.b	527,986	-	535,219	71,818
Deferred income tax and
social contribution	17.d	16,508	-	3,513,017	3,163,593
Judicial deposits	18		66,982	51,832	754,362	723,460
Other receivables			44,520	6,552	482,527	547,826
Investments	11		30,435,354	29,344,844	1,371,430	1,354,419
Property, plant and equipment	12		1,602,196	1,581,362	23,648,561	22,264,852
Intangible assets	13		2,243,589	2,273,786	6,138,251	6,020,859
Rights of use	15.a	218,560		228,796		9,556,151		10,779,635
Total non-current assets			41,054,080	38,612,985		55,651,615		53,299,004
Total assets			52,926,253	48,944,318	105,060,647	100,344,344

See the accompanying notes to the interim financial information.

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