Sul America S A : Minutes of the Annual General Meeting

SUL AMÉRICA S.A.

National Registry of Corporate Taxpayers (CNPJ/ME) 29.978.814/0001-87

Number of Corporate Registry Identification (NIRE) 3330003299-1

Brazilian Securities Commission (CVM) nº 02112-1

Publicly-Held Company with Authorized Share Capital

Minutes of the Annual Shareholders' Meeting held on March 30, 2022, drawn up in summary format.

Date, Time and Place: On March 30, 2022, at 3:00 p.m. at the Company's headquarters, located at Rua Beatriz Larragoiti Lucas 121, Cidade Nova, in the city and state of Rio de Janeiro.

Call: Call notice published in the newspaper "Valor Econômico", national section, and in the site of the newspaper "Valor Econômico", editions of February 24, 25 and 28, 2022, in accordance with the provisions of Article 124 of Law 6,404/76.

Attendance: Shareholders representing 69.6% of the voting capital considering the remote ballot papers, according to the synoptic map published by the Company, which was read by the President of the Meeting and made available for consultation of the attending shareholders, in accordance to Article 21-W, paragraph four, of CVM Instruction 481/2009. Also present were: Patrick Antonio Claude de Larragoiti Lucas, chairman of the Board of Directors; Ricardo Bottas Dourado dos Santos, Chief Executive and Investor Relations Officer; Renato Russo, coordinator of the Statutory Audit Committee; Roberto Martorelli, representative of the independent auditors, Ernst & Young Auditores Independentes S/S and Vitor Manuel Ribeiro da Cruz Moura, member of the Fiscal Council.

Publications: The financial statements, the management report and the independent auditors' report were published on February 24, 2022 in the newspaper "Valor Econômico", national section, pp. B7 to B11 and in the site of the newspaper "Valor Econômico".

Board:

President of the Meeting: Patrick Antonio Claude de Larragoiti Lucas Secretary: Henrique Vargas Beloch

Agenda:

I. verify the management accounts, examine, discuss and vote on the financial statements for the fiscal year ended December 31, 2021;

II.

approve the allocation of net income from the fiscal year ended December 31, 2021;

• III. establish the number of members of the Board of Directors for the 2022 term of office;

• IV. appoint the members of the Board of Directors; and

• V. establish the management compensation (Board of Directors and Executive Officers) and members of the Company's Statutory Committees.

Resolutions: The following resolutions were taken by the shareholders present:

I. Approved, by a majority of votes, with the registration of due abstentions, including those legally prevented from voting on this subject, the management accounts and the financial statements, as well as examined the independent auditors report, all documents relating to the fiscal year ended December 31, 2021.

II. Approved, by a majority of votes, the management's proposal for the net income of the fiscal year ended on December 31, 2021, in the amount of R$332,546,423.50, to be allocated as follows: (i) R$16,627,321.18 for the constitution of the Legal Reserve; (ii) R$225,919,102.32 for the constitution of the Statutory Reserve for Expansion of Social Business; and (iii) R$79,220,439.39 for the distribution of dividends, of which R$78,979,775.58 corresponds to 25% of the adjusted annual net income, for the distribution of the mandatory minimum dividend, and R$240,663.81 for the distribution of complementary dividends, to which the net value of interest on shareholders' equity ("JCP") declared at the Board of Directors' meetings held on December 21, 2021, was allocated to the total amount of dividends. The payment to shareholders will be made in full as of 04.14.2022 as resolved at the aforementioned Board Meeting, thus, there is no balance of dividends payable.

III. Approved, by a majority of votes, that for the current term of office until the Annual Shareholders' Meeting to be held in 2023, the Board of Directors shall consist of ten (10) members.

IV. (Re)elected, by a majority of votes, the following members to the Board of Directors, for a term of office that shall end on the same date as the Annual Shareholders' Meeting to be held in 2023: (i) reelect as Chairman, Patrick Antonio Claude de Larragoiti Lucas, Brazilian citizen, married, business administrator, bearer of the identity document number 004.785.073-0 (DETRAN) and enrolled in the Individual Taxpayer Registration (CPF) under number 718.245.297-91, resident and domiciled in the city and state of São Paulo, with office at Rua dos Pinheiros, 1673; (ii) elect as Board Member, André Guilherme Brandão, Brazilian citizen, married, bank officer, bearer of the identity document number 15.322.477-0 and enrolled in the Individual Taxpayer Registration (CPF) under number 091.534.908-60, resident and domiciled in the city and state of São Paulo, SP, with office at Rua Domingos Fernandes, nº 22; (iii) reelect as Board Member, Carlos Infante Santos de Castro,Brazilian citizen, stable union, engineer, bearer of the identity document number 22.007-D (CREA-RJ) and enrolled in the Individual Taxpayer Registration (CPF) under number 339.555.907-63, resident and domiciled in the city and state of Rio de Janeiro, with office at Rua Beatriz Larragoiti Lucas 121, Ala Sul; (iv) reelect as Board Member, Cátia Yuassa Tokoro, Brazilian citizen, married, engineer, bearer of the identity document number 051727352 (IFP/RJ) and enrolled in the Individual Taxpayer Registration (CPF) under number 011.800.477-88, resident and domiciled in the city and state of Rio de Janeiro, with office at Rua Beatriz Larragoiti Lucas 121, Ala Sul; (v) elect as Board Member, Denizar Vianna Araújo, Brazilian citizen, divorced, medical doctor, bearer of the identity document number 52-52286-6 (CRM/RJ) and enrolled in the Individual Taxpayer Registration (CPF) under number 005.052.927-77, resident and domiciled in the city and state of Rio de Janeiro, with office at Rua Beatriz Larragoiti Lucas 121, Ala Sul; (vi) elect as Board Member, Gabriel Portella Fagundes Filho, Brazilian citizen, married, economist, bearer of the identity document number 02984341-4 (IFP/RJ) and enrolled in the Individual Taxpayer Registration (CPF) under number 338.990.297-04, resident and domiciled in the city and state of São Paulo, with office at Rua dos Pinheiros, n° 1673; (vii) reelect as Board Member, Louis Antoine de Ségur de Charbonnières, Brazilian citizen, married, businessman, bearer of the identity document number 12.058.015-4 (Detran/RJ) and enrolled in the Individual Taxpayer Registration (CPF) under number 088.680.157-57, resident and domiciled in United Kingdom, in the city of London, at 8 Cranley Place, SW73AB; (viii) reelect as Board Member, Pierre Claude Perrenoud, Swiss citizen, married, business administrator, bearer of passport number X6106607 issued by the Swiss Federation and enrolled in the Individual Taxpayer Registration (CPF) under number 056.932.027-55, resident and domiciled at Residenza Al Parco, Via San Gottardo 8, CH-6600 - Muralto, Switzerland; (ix) reelect as Board Member, Renato Russo, Italian citizen, married, executive, bearer of foreign identity document (RNE) number W364684-1 and and enrolled in the Individual Taxpayer Registration (CPF) under number 041.163.508-50, resident and domiciled in the city and state of São Paulo, with office at Rua dos Pinheiros 1673; and (x) elect as Board Member, Simone Petroni Agra, Brazilian citizen, married, business administrator, bearer of the identity document number 10.517.465-8 (SSP/SP) and enrolled in the Individual Taxpayer Registration (CPF) under number 074.553.768-55, resident and domiciled in the city and state of São Paulo, with office at Rua Maria Antonia Ladalardo, nº 320.

IV.1. The (re)elected members declared to be in good standing, pursuant to the Law, for the exercise of their respective positions, and submitted their respective declarations required by law, which were duly filed at the Company's headquarters. Pursuant to items 5.3 e 5.3.3 of B3 Corporate Governance Level 2 Listing Rules, it is declared that Messrs. André Guilherme Brandão, Cátia Yuassa Tokoro, Denizar Vianna Araújo, Pierre Claude Perrenoud, Renato Russo and Simone Petroni Agra are independent Board Members.

V. Approved, by a majority of votes, the global and annual amount of up to R$9,358,000.00 as compensation for the management (Board of Directors and Executive Officers) and members of the Company's Statutory Committees for the period comprised from the Annual Shareholders' Meeting of 2022 until the Annual Shareholders' Meeting of 2023.

VI. It was registered the receipt of a request for the installation of the Fiscal Council, pursuant to Article 161, paragraph two, of Law 6,404/76, and CVM Instruction 324/00, by shareholders holding more than 2% of the common shares and 1% of the preferred shares of the Company. However, considering that candidates were not nominated for the Fiscal Council's seats, the Fiscal Council's non-installation for the 2022 fiscal year was unanimously approved.

Adjournment: There being no further matters to address, the Chairman adjourned the meeting and these minutes were drawn up in the Company's records in summary format, pursuant to Article 130, Paragraph 1 of Law 6,404/76, and signed by the Board and the attending shareholders. The publication of these minutes will occur as authorized by the shareholders' meeting, pursuant to Article 130, Paragraph 2 of Law 6,404/76.

Rio de Janeiro, March 30, 2022.

Signatures: Patrick Antonio Claude de Larragoiti Lucas, President of the meeting; Henrique Vargas Beloch, Secretary of the meeting; Shareholders: Sulasapar Participações S.A., by its proxy Fernanda Bezerra, attorney-at-law; Saspar Participações S.A., by its proxy Fernanda Bezerra, attorney-at-law; Anne Michèle Françoise Julien Cousi, by its proxy Fernanda Bezerra, attorney-at-law; Chantal De Larragoiti Lucas, by its proxy Fernanda Bezerra, attorney-at-law; Christiane Claude De Larragoiti Lucas, by its proxy Fernanda Bezerra, attorney-at-law; Isabelle Rose Marie De Segur Lamoignon, by its proxy Fernanda Bezerra, attorney-at-law; Laurence Marie Marthe Julien Duplatre, by its proxy Fernanda Bezerra, attorney-at-law; Louis Antoine De Sègur De Charbonnieres, by its proxy Fernanda Bezerra, attorney-at-law; Marion Marcelle Jeanne Julien De Turckheim, by its proxy Fernanda Bezerra, attorney-at-law; Patrick Antonio Claude De Larragoiti Lucas; Sophie Marie Antoinette De Segur, by its proxy Fernanda Bezerra, attorney-at-law; Alessandro Vicente Cogliatti, by its proxy Fernanda Bezerra, attorney-at-law; Marco Antonio Antunes da Silva, by its proxy Fernanda Bezerra, attorney-at-law; Carlos Alberto de Figueiredo Trindade Filho; Eduardo Stefanello Dal Ri, by its proxy Carlos Alberto de Figueiredo Trindade Filho; Ricardo Bottas Dourado dos Santos; Reinaldo Amorim Lopes; Laenio Pereira dos Santos; Selma Taylor, by its proxy Carlos Alberto de Figueiredo Trindade Filho; ASCESE FUNDO DE INVESTIMENTO EM AÇÕES; DYNAMO COUGAR MASTER FUNDO DE INVESTIMENTO EMAÇÕES; DYNAMO BRASIL I LLC; DYNAMO BRASIL III LLC; DYNAMO BRASIL V LLC; DYNAMO BRASIL VI LLC; DYNAMO BRASIL VIII LLC; DYNAMO BRASIL IX LLC; DYNAMO BRASIL XIV LLC e DYNAMO BRASIL XV LP, by its proxies Gustavo Aranha Alves Barreto and Gabriel Vieira Marx Andrade; IT NOW IBOVESPA FUNDO DE ÍNDICE; IT NOW IFNC FUNDO DE ÍNDICE; IT NOW IGCT FUNDO DE INDICE; IT NOW ISE FUNDO DE INDICE; IT NOW SMALL CAPS FUNDO DE INDICE; ITAU CAIXA ACOES FI; ITAU FTSE RAFI BRAZIL 50 CAPPED INDEX FIA; ITAU GOVERNANCA CORPORATIVA ACOES FI; ITAU IBOVESPA ATIVO MASTER FIA; ITAU INDEX ACOES IBRX FI; ITAU MOMENTO ESG ACOES FUNDO DE INVESTIMENTO; ITAU SMALL CAP MASTER FUNDO DE INVESTIMENTO EM ACOES; ITAÚ AÇÕES DIVIDENDOS FI; ITAÚ EXCELÊNCIA SOCIAL AÇÕES FUNDO DE INVESTIMENTO; ITAÚ HEDGE MULTIMERCADO FUNDO DE INVESTIMENTO; ITAÚ INDEX AÇÕES IBOVESPA FI; ITAÚ MOMENTO II AÇÕES FUNDO DE INVESTIMENTO; ITAÚ PREVIDÊNCIA IBRX FIA; ITAÚ QUANTAMENTAL GEMS MASTER AÇÕES FUNDO DE INVESTIMENTO; WM SMALL CAP FUNDO DE INVESTIMENTO EM AÇÕES, by its proxy Daniel Alves Ferreira, attorney-at-law; and BRAM H FIA INSTITUCIONAL; BRADESCO FIA IBOVESPA PLUS; BRADESCO FIA INSTITUCIONAL IBRX ATIVO; BRADESCO PRIVATE FIA IBOVESPA ATIVO; BRADESCO FUNDO MUTUO DE PRIVATIZACAO FGTS CL; BRADESCO MULTIPORTFOLIO FMP - FGTS CL; BRAM FUNDO DE INVESTIMENTO EM ACOES IBOVESPA; BRAM FUNDO DE INVESTIMENTO EM ACOES; BRAM FIA IBOVESPA ATIVO; BRADESCO FIA DIVIDENDOS; BRADESCO FIA SMALL CAP PLUS; BRADESCO FIA MASTER PREVIDENCIA; BRADESCO FI MULTIMERCADO LONG SHORT; BRADESCO FIA SUSTENTABILIDADE EMPRESARIAL; BRADESCO H FIA SMALL CAPS; BRADESCO FUNDO DE INVESTIMENTO EM ACOES ZINCO; BRADESCO FIM LONG AND SHORT; BRADESCO FIM FUNDACAO AMAZONAS SUSTENTAVEL - FAS.; FI EM ACOES ARUBA; BRAM FIA IBRX ATIVO; BRADESCO FIA IBRX MULTIPATROCINADO; BRADESCO H FIA SRI; BRAM H FI EM ACOES PASSIVO IBRX; BRAM H FI EM ACOES IBOVESPA GESTAO; BRADESCO FIA MASTER DIVIDENDOS; BRAM FIA SMALL CAPS; BRAM H FIA DIVIDENDOS; BRADESCO FIA MASTER SMALL CAP; BRAM FIM AJAX; BRADESCO FIA MASTER IBRX; BRADESCO FIA MASTER IBOVESPA; FUNDO DE INVESTIMENTO EM ACOES IBOVESPA 157; ETF BRADESCO IBOVESPA FUNDO DE INDICE; ÁGORA TOP 10 INDEX FIA; ÁGORA ARROJADA INDEX FIA; BRAM FUNDO DE INVESTIMENTO EM ACOES CRESCIMENTO; AGORA ESMERALDA FUNDO DE INVESTIMENTO MULTIMERCADO; BRADESCO FUNDO DE INVESTIMENTO EM ACOES MASTER PREVIDENCIA IBOVESPA ATIVO; BRAM FUNDO DE INVESTIMENTO MULTIMERCADO EQUITY HEDGE; BRAM FUNDO DE INVESTIMENTO EM AÇÕES SUSTENTABILIDADE EMPRESA; FUNDO DE INVESTIMENTO EM ACOES MASTER PREVIDENCIA ESG; BRADESCO H FI EM ACOES IBOVESPA; BRADESCO FUNDO DE INVESTIMENTO EM ACOES SALUBRE; BRADESCO FF ÍNDICE ATIVO FUNDO DE INVESTIMENTO EM AÇÕES; FUNDO DE INVESTIMENTO EM AÇÕES SABESPREV SMALL CAPS PLUS; BRADESCO TIGER FUNDO DE INVESTIMENTO EM AÇOES; BRADESEG PARTICIPAÇÕES S.A.; BRADESCO VIDA E PREVIDÊNCIA S.A.; BRADESCO AUTO/RE COMPANHIA DE SEGUROS; BRADESCO SAÚDE S.A.; CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM;