Michel Shirozono

Forpus Capital Gestão de Recursos Ltda. is an independent resource manager based in São Paulo, Brazil. Forpus Capital focuses on the market of action and prevention, providing investing inputs to be aware of the upheavals. The Brazilian company offers monthly and informative history performance reports to its clients. Forpus Capital manages resources and other financial assets, using strategies with derivatives as an integral part of its investment policy. The private company warns that such strategies may result in significant property losses to their quota holders, and may even cause losses higher than the capital applied. The funds of action may be exposed to significant concentration in assets of few broadcasters, with the risks arising. Investment funds do not have a guarantee of the administrator of the fund, the wallet manager, any insurance mechanism, or the fund guarantee fund. The profitability obtained in the past does not represent a guarantee of future profitability. The company was founded in 2014 by Luiz Alberto Nunes and Francisco Giffoni Meirelles de Andrade.

Far Fator Administração de Recursos Ltda. (FAR) is the asset management subsidiary of Banco Fator SA, ultimately owned by Fator Empreendimentos e Participacoes Ltda. in Brazil.^ Established in 1997, the firm is based in Based in Sao Paulo and develops tailored products for individual and institutional clients including open and closed pension funds, the public sector and insurance companies.

Nest Investimentos Ltda. is an independent fund manager based in Brazil that offers various investment portfolios with unique strategies. The private company is based in São Paulo, Brazil and has subsidiaries in Brazil. The Brazilian company operates under a model of multi-management and multi-product. The company was founded in 2005 by Francisco Giffoni Meirelles de Andrade, Pedro Tourinho Falcão Baptista, Felipe Prata.