| Shareholders | Common Shares (ON) | %Total |
|---|---|---|
| Controlling Shareholders | 726,748,485 | 69.2% |
| Votorantim S.A. | 406,149,578 | 38.7% |
| CPP Investments¹ | 320,598,907 | 30.5% |
| Management | 108.396 | 0.0% |
| Treasury | 5,742,920 | 0.5% |
| Free Float | 317,778,173 | 30.3% |
| Total | 1,050,377,974 | 100.0% |
¹Including the interest held by Muskoka Fundo de Investimento em Participações Multiestratégia Responsabilidade Limitada