Ultrapar Participacoes S A : Minutes of the meeting of the Board of Directors

ULTRAPAR PARTICIPAÇÕES S.A.

Publicly Traded Company

CNPJ Nr. 33.256.439/0001-39

NIRE 35.300.109.724

MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS

Date, Hour and Place:

March 29, 2023, at 2:30 p.m., at the Company's headquarters, located at Brigadeiro Luís Antônio Avenue, Nr. 1,343, 9th floor, in the City of and State of São Paulo, also contemplating participation through Microsoft Teams.

Members in Attendance:

(i) Members of the Board of Directors undersigned; (ii) Secretary of the Board of Directors, Mr. André Brickmann Areno; (iii) Chief Executive Officer, Mr. Marcos Marinho Lutz; (iv) Chief Financial and Investor Relations Officer, Mr. Rodrigo de Almeida Pizzinatto; and (v) other executive officers of the Company, namely, Mrs. Décio de Sampaio Amaral, Leonardo Remião Linden, Marcelo Pereira Malta de Araújo and Tabajara Bertelli Costa.

Matters discussed and resolutions:

• 1. The members of the Board of Directors discussed the Company's main provisions and contingencies.

• 2. The Board of Directors approved the amendments to the Company's Code of Ethics, as proposed by the Executive Board endorsed by the Audit and Risks Committee, having also determined the amendments to be replicated in the Internal Regulations of the Conduct Committee, when applicable. Furthermore, the Board members approved the following changes in the composition of the Conduct

Committee, effective as of April 19, 2023: (i) the election of Mrs. Flávia Buarque de Almeida, as a member of the Conduct Committee, replacing Mr. Frederico Pinheiro Fleury Curado; and (ii) the resignation of Mr. Julio Cesar Nogueira.

3.

Considering the proposals for the global compensation of the management and the new stock-based Incentive Plan submitted to the resolution of the Company's Extraordinary General Shareholders'

Meeting, called for April 19, 2023, and conditioned to the approval of the resolutions by the referred meeting, the Board of Directors approved, based on the recommendation of the People Committee:

• (i) the new wording of the Corporate Executive Compensation Policy;

• (ii) the 1st Restricted and Performance Shares Incentive Program

  ("1st Program"), including performance goals to which the transfer of ownership of performance shares will be subject to, as well as the list of designated participants in the 1st Program and the respective number of shares to be granted. Said documents will be filed at the Company's headquarters;

• (iii) the 1st Stock-Based Incentive Program - Board of Directors, which will be filed at the Company's headquarters, under the terms presented to the Company's shareholders in the Annual and Extraordinary General Shareholders' Meeting Manual disclosed to the market on March 17, 2023; and

• (iv) the execution of such agreements between the Company and each participant of the programs mentioned in items (ii) and (iii) above, according to the standard draft agreement filed at the Company's headquarters.

• 4. Finally, to Board members Alexandre Teixeira de Assumpção Saigh, José Galló, José Luiz Alquéres and Otávio Lopes Castello Branco Neto, who are now ending their terms of office, the Board of Directors expresses its votes of gratitude for their effort and valuable contributions brought over the last years.

• 5. To Board members Pedro Wongtschowski and Frederico Pinheiro Fleury Curado, who are also leaving the Company, the Board of Directors expresses a special acknowledgment, reinforcing the importance of each of their performances in the different roles exercised throughout their careers, and thanking them for their commitment, dedication and for the important legacy left, which was essential to the definition of the Company's strategic direction and to its continuous growth.

Notes: The resolutions were approved, with no amendments or qualifications, by all Board members.

There being no further matters to discuss, the meeting was concluded, and these minutes were written, read, passed, and signed by all the Board members present.

Pedro Wongtschowski - Chairman

Frederico Pinheiro Fleury Curado - Vice-Chairman

Ana Paula Vitali Janes Vescovi

Flávia Buarque de Almeida

Jorge Marques de Toledo Camargo

José Galló

José Luiz Alquéres

José Mauricio Pereira Coelho

Otávio Lopes Castello Branco Neto

André Brickmann Areno - Secretary of the Board of Directors