
ULTRAPAR PARTICIPAÇÕES S.A.
MATERIAL NOTICE
Ultrapar announces financial guidance for 2020
São Paulo, March 3, 2020 – Ultrapar Participações S.A. (B3: UGPA3 / NYSE: UGP, “Company”), in compliance with Instructions 358/02 and 480/09, as amended, issued by the Securities and Exchange Commission of Brazil (CVM) hereby discloses the financial guidance for 2020 (accounting standard IFRS 16):

Note 1: Adjusted EBITDA
The main assumptions adopted to formulate the guidance for 2020 were:
| • | | Exchange rate of R$ 4.00/USD; |
| • | | Brazilian GDP growth of 2%; |
| • | | Annual inflation of 3.9% (IPCA). |
The assumptions were defined during the budgeting process of the Company, conducted throughout the last quarter of 2019, and its primary sources of information were the Focus Report published by the Central Bank of Brazil and reports of specialized consultant firms.
The businesses’ perspectives are based in beliefs and assumptions of the Company’s executive board, as well as in information currently available. Such estimates are not guarantee of performance and involve risks and uncertainties, since they refer to future events and depend on circumstances which may or may not occur. General economic conditions, market conditions and other operational factors may lead to results which differ materially from the numbers disclosed.
André Pires de Oliveira Dias
Chief Financial and Investor Relations Officer
ULTRAPAR PARTICIPAÇÕES S.A.