• Sul América S.A. has agreed to sell 100% of its saving bonds portfolio to Icatu for R$100 million with the possibility of an earn-out of up to R$83 million

– The sale is part of SulAmérica’s goal to focus on segments where the Company has competitive advantages and that present higher growth potential

• SulAmérica is the largest independent insurer in Brazil with over R$20 billion in revenues

– Sulacap operates the second largest independent savings bonds operation, being the leader and pioneer of the rent guarantee market

– In 2018, the saving bonds portfolio had R$737 million in collections