• In February 2023, 23S Capital completed the acquisition of a minority stake in Ademicon, which already has the presence of the private equity fund Treecorp – The entry of 23S Capital strengthens Ademicon's governance and expansion agenda, combining the long-term investment expertise and governance best practices knowledge of the new partner with the company's 30+ year trajectory – 23S Capital's investment in Ademicon was driven by the company's accelerated growth and positive results in the consortium segment, where it holds a leading position and competitive advantages in a high-growth potential sector. Furthermore, Ademicon's services contribute to democratizing the financial sector by enabling greater access to high-ticket products such as real estate and vehicles • Ademicon was the first investment of a newly launched fund with a capital of R$3.6 billion, created through the strategic partnership between Votorantim and Temasek (a global investor headquartered in Singapore) with the aim of investing in high-growth companies in Brazil • Ademicon was established in 1991 and ranks among the top five companies in the active credit segment, including banks. In 2022, it traded R$12 billion in credits, a 46% increase compared to the previous year and over the last five years, the company has experienced approximately 40% growth, nearly double the market average