Shareholder Structure Breakdown

Units Structure

Shares Details	Total Number of Shares	# of shares in the unit
Banco BTG Pactual S.A.	2,712,706,972	3

BPAC11 - Shareholder Structure Details	Total Number of Units (Theoretical)	% of total
Partnership (Direct or via BTG Pactual Holding S.A. and BTG Pactual Holding Fincanceira Ltda.)	630,963,864	69.8%
Partnership Vehicles	37,145,413	4.1%
Free Float Total⁽¹⁾	236,126,381	26.1%

Total	904,235,657	100.0%

Note:

(1) Updated as of July 24, 2020.

Shares Summary

Banco BTG Pactual
	(# of shares)	(% of total)
BTG Pactual Holding Financeira Ltda.	1,802,331,607	66.4%
BTG Pactual Holding S.A.	90,559,984	3.3%
Banco BTG Pactual S.A. ⁽¹⁾	0	0.0%
Partnership Vehicles	111,436,239	4.1%
Free Float Total	708,379,142	26.1%

Total	2,712,706,972	100.0%

Note:
(1) Treasury shares resulting from the share buyback program of Banco BTG Pactual S.A.

Banco BTG Pactual S.A.
Share Characteristics	ON	%	PNA	%	PNB	%	Total	%
Economic Rights	Yes		Yes		Yes
Voting Rights	Yes		No		No

BTG Pactual Holding Financeira Ltda.	1,452,975,267	82.7%	0	0.0%	349,356,340	100.0%	1,802,331,607	66.4%
BTG Pactual Holding S.A.	30,219,248	1.7%	60,438,496	10.0%	0	0%	90,657,744	3.3%
Banco BTG Pactual S.A. ⁽¹⁾	0	0.0%	0	0.0%	0	0%	0	0.0%
Partnership Vehicles	37,145,413	2.1%	74,290,826	12.2%	0	0.0%	111,436,239	4.1%
Free-Float Total	236,093,794	13.4%	472,187,588	77.8%	0	0.0%	708,281,382	26.1%

Total	1,756,433,722	100.0%	606,916,910	100.0%	349,356,340	100.0%	2,712,706,972	100.0%

Note:
(1) Treasury shares resulting from the share buyback program of Banco BTG Pactual S.A.

> Shareholder Structure Breakdown