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Ultrapar Participações S.A. January 2018 Considerations

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Ultrapar Participações S.A. January 2018 Considerations Ultrapar Participações S.A. January 2018 Considerations Forward-looking statements This document may include “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Investors are cautioned that such forward-looking statements with respect to revenues, earnings, performance, strategies, prospects and other aspects of the business of Ultrapar Participações S.A. (“Ultrapar”) are based on current expectations that are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements. Ultrapar is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. For this reason, readers should not place undue emphasis on these forward-looking statements. Standards and criteria adopted in preparing the information The financial information presented in this document has been prepared according to International Financial Reporting Standards (IFRS). The financial information of Ultrapar corresponds to the company’s consolidated information. The financial information of Ipiranga, Oxiteno, Ultragaz, Ultracargo and Extrafarma is reported without elimination of intercompany transactions. Therefore, the sum of such information may not correspond to the consolidated financial information of Ultrapar. In addition, the financial and operational information presented in this document is subject to rounding off and, consequently, the total amounts presented in the tables and charts may differ from the direct sum of the amounts that precede them. EBITDA — Earnings Before Interest, Taxes, Depreciation and Amortization, and EBIT— Earnings Before Interest and Taxes, are presented in accordance with CVM Instruction No. 527, issued by CVM on October 4, 2012. Agenda Ultrapar and strategy of its businesses.....................................................................p.07 Financial performance.................................................................................................p.14 Priorities and recent strategic initiatives..................................................................p.22 Ultrapar – Multi-business company Ultrapar Financial highlights sep/17 R$ million 2014 2015 2016 • Engaged in specialized distribution and retail, specialty LTM chemicals and storage for liquid bulk Net revenue 67,736 75,655 77,353 77,519 ¹ % YoY 11.2% 11.7% 2.2% -1.7% • Leadership position in its markets, with long-term EBITDA 3,158 3,953 4,217 4,118 competitive advantages ¹ % YoY 8.2% 25.2% 6.7% -3.6% • Businesses leveraged on the economic growth and Net income 1,251 1,513 1,571 1,609 resilient Net debt 3,975 4,928 5,715 6,767 Net debt/EBITDA 1.3 1.2 1.4 1.6 • Best practices of corporate governance Market cap²: R$ 42 billion • Strategy of differentiation and innovation Moody’s: Ba1 S&P: BB+ EBITDA³ contribution Shareholder structure 1% Key shareholders 4% Ipiranga Oxiteno Ultra S.A. Participações 22% 13% Ultragaz Standard Life Aberdeen PLC 8% 6% Ultracargo Parth do Brasil Participações Ltda 8% Extrafarma 75% BlackRock Inc. 5% Others 57% ¹ Growth over the last 12 months ended September 30, 2016 ² As of September 30, 2017 4 ³ For the last 12 months ended September 30, 2017 Ultrapar – Multi-business company 2nd largest fuel Leader in specialty Largest LPG Largest provider of Leadership position distributor in Brazil chemicals derived of distributor in Brazil storage for liquid in North and ethylene oxide in Latin Network of 6 bulk in Brazil Northeast regions 7,814 service stations America thousand 6 terminals located in 366 stores in 11 independent resellers Largest 12 production the main Brazilian different states ports convenience store facilities in 5 countries 11 million 2 distribution centers network in Brazil households attended 696 thousand m³ of 52 thousand storage capacity costumers in the bulk segment Ultrapar is the 5th largest Brazilian group in terms of revenues¹ 16 thousand employees ¹Source: Valor 1000 2017 edition 5 Ultrapar – Corporate governance Ultrapar corporate governance 1984/94 1999 2000 2002 2003 2007 2011 2014 • Company’s first • First Brazilian • First Brazilian • Compensation • Stock ownership • Separated roles • New corporate • Issuance of new and second stock company to be company to grant linked to program to of CEO and governance common shares ownership listed at B3 and 100% tag along economic value executives of the Chairman of the structure after as a result of the program NYSE rights to all added new generation Board of joining the Novo Extrafarma’s Mercado simultaneously shareholders Directors Merger • Corporate • Ultrapar restructuring becomes a corporation Corporate Governance designed to value creation Alignment of interests Track record of prospecting, analyzing and executing Accountability Continuous process High standards of controls and Engagement of the Company transparency Lean management Strong investment structure capacity Agile decision-making Capital processes People Long-term financial Processes soundness 6 Ultrapar and strategy of its businesses Ipiranga – Continuous investments in the network and distribution infrastructure Nationwide presence # of service stations and potential market for network expansion N/MW/NE 7,814 Deep market 2017 = 28% 7,563 7,230 analysis 2007 = 0% 7,056 6,725 6,460 6,086 5,499 5,662 + Unbranded service stations Execution > 17 thousand capability 3,276 3,469 service stations across Brazil¹ = S/SE Optimization 2017 = 72% of network 2007 = 100% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Sep/17 expansion % of Ipiranga stations ¹ Amounts for 2016 Scale, operational excellence and expansion of the company CAPEX EBITDA 74 logistics facilities* across Brazil 134 1,327 ~ R$ 700 million CAPEX for expansion and construction of storage 3,104 $ terminals since 2011 61 591 3 million m³ handled per month 1,330 > 4,000 daily deliveries 735 thousand m³ capacity – +9% CAGR (2011-16) 2011 Sep/17 LTM 2011 Sep/17 LTM EBITDA (R$ million) Under construction/expansion: +30 thousand m³ Capex (R$ million) Margin EBITDA (R$/m³) 8 *28 owned, 25 pooled storage terminals and 21 leased storage in third parties Ipiranga – Diversification in products and services offered “A complete service station waiting for you” am/pm – the largest convenience store network in Brazil 2009-2011 4th largest • KM de Vantagens: > 25 million members franchise network Top 20 largest in Brazil according franchisee networks based on sales • Eco-efficient service stations: > 1,000 stations to the ABF Ranking 2016 according to Abras Ranking 2016 • Bakeries: approximately 800 bakeries Model still incipient in Brazil compared with other countries 2012-2015 Consumers increasingly seeking convenient solutions • ConectCar The am/pm + service station combination increases fuel sales by 15% to 20% • Virtual service station am/pm: 2,301 stores penetration: 29% • Beer Cave: > 400 units • am/pm Supply: 4 DCs The strongest brand in the fuel market¹ • JetOil Digital Relationship with resellers and final costumers • Clube do Milhão 2016-2017 • Clube VIP • New concepts for am/pm (Super Store e “Estação”) • Ipiranga’s Convention • New products launches (DT Clean e Octapro) Marketing campaigns • Connected Station: > 500 stations with electronic • “Ask at the Ipiranga’s service station” panels and > 600 with beacons • Marketing plan • “Abastece Aí” app: > 1 million downloads ¹ Source: Valor Econômico, January 18, 2016 (CVA Solutions consultants) As of Sep/17 9 Oxiteno – Investments in innovation and internacional expansion Leadership position Sole producer of ethylene oxide in Brazil and oleo-chemicals in Latin America Sales mix Deep knowledge of surfactants technology 18% Scale comparable to the largest players in the world Specialties 3Q17 • 3th largest ethoxylation company in the world Glycols • Camaçari unit: one of the world’s largest ethylene oxide production units 82% Current capacity allows growth in Brazil without significant new investments Segments of operation USA Investments Cosmetics Detergents Oil The largest ethoxylates market in the world Access to ethylene oxide derived from natural gas, more competitive than naphtha Texas: 30% of the total US refinery capacity and 40% of the petrochemical output A state with an excellent logistics infrastructure Hydraulic fluids Agrochemicals Coatings • Annual production capacity: 120 kton • Start up in operations: 1st quarter of 2018 10 Ultragaz – 80 years of constant evolution Innovation and investment in technology increase productivity and the services portfolio Mature but highly dynamic market Uses for LPG still not permitted in Brazil Growth Constantly renewing company opportunities Use of digitalization for future growth Delivery Generators Water pumps trucks Sauna • In the relationship with the end consumer: greater customer satisfaction and loyalty • In internal processes: greater responsiveness and productivity Swimming Vehicles Car wash water pool heaters • Through the combination of data to maximize opportunities pressurizer Bottled Expanding scale, geographical
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