On May 5, 2022, Gerdau S.A. announced a share buyback program (“Buyback Program”), to maximize the creation of long-term shareholder value through efficient management of the capital structure and to serve the long-term incentive programs of the Company and its subsidiaries.
The shares acquired under the Buyback Program will remain in treasury for maintenance, sale or cancellation.
| ACQUISITION PERIOD | a maximum period of (eighteen (18) months starting on May 6, 2022 |
| AMOUNT TO BE PURCHASED | up to 55,000,000 preferred shares: 5% of preferred shares (GGBR4) and/or ADRs representing preferred shares (GGB) |
| NUMBER OF SHARES REPURCHASED* | 44,564,000 preferred shares (81.03% of the Program) |
(*) by December/22
