Management

Executive board

The Executive Board is comprised of up to eight members. According to Ultrapar’s Bylaws, the Board of Directors is responsible for appointing among the officers elected who shall perform the duties of Chief Executive Officer and Chief Financial and Investor Relations Officer. Each of the current Executive Officers were appointed by the Board of Directors for a two-year term, reelection being allowed. It is incumbent on the Executive Board to perform the acts required for the regular operation of the Company and management of its businesses.

Name Position Election date End of Term
Rodrigo de Almeida Pizzinatto Chief Executive Officer 04/16/2025 AGM 2027

Mr. Pizzinatto joined Ultrapar in 1999 as an intern and, since then, has worked in different areas of the Company, including Treasury, M&A, Corporate Planning and Investor Relations. From 2012 to 2014, he served as a Director of the areas of M&A, Corporate Planning and Investor Relations. From 2014 to 2018, Mr. Pizzinatto was appointed as an Officer of Extrafarma’s, responsible for different areas during his tenure, such as Expansion, Marketing, Commercial and Logistics. In June 2018, he was named CEO of Extrafarma, leading a strategic redirection and results recovery for the company. In October 2020, he was nominated Ultrapar’s Chief Financial and Investor Relations Officer. Mr. Pizzinatto graduated in business administration from Fundação Getulio Vargas and holds a MBA from Stanford Graduate School of Business.

Alexandre Mendes Palhares Chief Financial and Investor Officer 04/16/2025 AGM 2027

Mr. Palhares joined Ultrapar in May 2024 as the Financial Planning and Investor Relations Director. Since April 2025, he has been the Chief Financial and Investor Officer of Ultrapar. From 2020 to 2024, Mr. Palhares served as the Chief Financial and Investor Relations Officer of Eurofarma and from 2019 to 2020, of Delta Energia. From 2005 to 2010, Mr. Palhares worked at Embraer and between 2010 and 2019 at Cosan Group, where he held several positions, including Chief Financial Officer at Moove in 2016 and Financial Director at Rumo Logística from 2017 to 2019. Mr. Palhares graduated in business administration and international trade from the University of Taubaté,and holds MBA in finance at the University of Taubaté and an MBA in business, innovation and project management at FIA (Fundação Instituto de Administração) with an internation extension at University of Laverne focusing on finance.

Manuella Carvalho Campos de Oliveira Officer 04/16/2025 AGM 2027

Ms. Oliveira joined Ultrapar in 2023 as the human resources officer and, as of April 2025, she is Executive Officer of the Company. From 2017 to 2023, Ms. Oliveira served as the head of people and culture at Omega Energia and, from 2007 to 2016, as the head of project finance of PDG Incorporadora e Construtora. She graduated in economics from Ibmec and completed executive education programs in several fields from different institutions, such as business and financial management, private equity and venture capital, valuation and HR, from FGV, Insper, NYU Stern School of Business and Dom Cabral Foundation, respectively.

Marina Guimarães Moreira Mascarenhas Officer 04/16/2025 AGM 2027

Ms. Mascarenhas joined Ultrapar in 2023 as the General Counsel and is also a member of the Conduct Committee. As of April 2025, she is also Executive Officer of the Company. As of the date of this annual report she was a member of the Board of Directors of Hidrovias do Brasil S.A and a member of Ultra Institute. From 2011 to 2023, Ms. Mascarenhas worked at BRMalls, serving as General Counsel from 2018 to 2023 and its Data Protection Officer from 2020 to 2023. She graduated in law from the Pontificial Catholic University of Rio de Janeiro, holds a master degree in corporate law and capital markets from Ibmec and completed an executive education program in privacy and data protection at Insper

Alignment of interest between the executives of the Company and shareholders

Variable compensation linked to performance indicators

The leaders of Ultrapar have variable compensation, established based on EBITDA and operating cash flow goals defined for each business and for Ultrapar, in addition to individual goals associated with the businesses’ operational and commercial performance, people development, projects, and at least 1/3 of the individuals goals (or 10% of the total) linked to ESG goals, always taking into account the Strategic Plan approved by the Board of Directors.

Stock ownership plan

The Company’s executives are also shareholders of Ultrapar through its stock plan. Currently, stock programs are linked to the executive’s length of stay at the Company, his/her performance and the generation of business value (Economic Value Added – EVA), in line with the Company’s Strategic Plan. The Board of Directors defines the amount of shares to be granted to the executives.
For more information, access Item 8 of the Reference Form (Portuguese only) or item 6.B. of 20-F.