Rating

Moody’s	Scale	Rating	Perspective	Report
Corporate Credit Rating	National Long Term	AA+.bra	Stable	*
Classified Emissions:
23rd Issuance of CRAs of Eco Securitizadora	National Long Term	AA(bra)	Stable	*
54th Issuance of CRAs by Eco Securitizadora	National Long Term	AA+.br	Stable	*
81st Issuance of CRAs of Eco Securitizadora	National Long Term	AA+.br	Stable	*
93th Issuance of CRAs by Eco Securitizadora	National Long Term	AA+.br	Stable	*
233rd Issuance of CRAs of Eco Securitizadora	National Long Term	AA+.br	Stable	*
296th Issuance of CRAs of Eco Securitizadora	National Long Term	AA+.br	Stable	*
15th Issue of Debentures	National Long Term	AA+.br	Stable	*

Standard & Poor’s	Scale	Rating	Perspective	Report
Corporate Credit Rating	Global Long Term	BB-	Stable
	National Long Term	brAA+	Stable	*
Classified Emissions1:
3rd Issue of Debentures	National Long Term	brAA+	Stable	*
4th Issue of Debentures	National Long Term	brAA+	Stable	*
2nd Issue of Debentures	National Long Term	brAA+	Stable	*

Fitch	Scale	Rating	Perspective	Report
Corporate Credit Rating	Global Long Term	BB-	Stable
	National Long Term	AA(bra)	Stable
Classified Emissions:
2nd Issue Debentures	National Long Term	AA(bra)	Stable
7th Issue Debentures	National Long Term	AA(bra)	Stable
9th Issue Debentures	National Long Term	AA(bra)	Stable
10th Issue Debentures	National Long Term	AA(bra)	Stable
11th Issue Debentures	National Long Term	AA(bra)	Stable
2nd Issuance of Commercial Notes	National Long Term	AA(bra)	Stable

¹The rating of the debentures, CDCA and commercial notes issuances is in line with the corporate rating.

*Available only in Portuguese.