Unit Structure and Total Free Float Estimate
Units Structure
| Shares Details | Total Number of Shares | # of shares in the unit |
| Banco BTG Pactual S.A. | 2,637,236,572 | 3 |
| BPAC11 - Shareholder Structure Details | Total Number of Units (Theoretical) | % of total |
| Partnership (Direct or via BTG Pactual Holding S.A.) | 683,376,070 | 77.74% |
| BTG Pactual Other Vehicles | 5,734,142 | 0.65% |
| BTG Pactual Partners Vehicles | 39,890,046 | 4.54% |
| Free Float Total(1),(2) | 150,078,599 | 17.07% |
| Total | 879,078,857 | 100.0% |
Note
(1) Includes shares from December 2010 Investors, Former Celfin Shareholders and Former Bolsa y Renta Shareholders
(2) Subject to lock-up. Subsequent to the expiration of lock-up may be sold into free float
(3) Updated as of October 15th, 2018
Shares Summary
| Banco BTG Pactual | |||||
| (# of shares) | (% of total) | ||||
| BTG Pactual Holding S.A. | 2,050,128,211 | 76.5% | |||
| Partnership Equity | 1,952,331,607 | 72.8% | |||
| Acquired at market | 97,796,604 | 3.6% | |||
| BTG Pactual Other Vehicles | 17,202,426 | 0.6% | |||
| BTG Pactual Partners Vehicles | 123.354.450 | 4.6% | |||
| Free Float Total | 490.916.685 | 18.3% | |||
| Total | 2,681,601,771 | 100.0% | |||
Shareholder Structure
Notes:
(1) Includes units acquired by investment vehicles owned by certain partners individually or collectively and vehicles under common control of the Partnership.
| Banco BTG Pactual S.A. | ||||||||
| Share Characteristics | ON | % | PNA | % | PNB | % | Total | % |
| Economic Rights | Yes | Yes | Yes | |||||
| Voting Rights | Yes | No | No | |||||
| BTG Pactual Holding S.A. | 1,535,574,135 | 87.9% | 65,197,736 | 13.4% | 449,356,339 | 100.0% | 2,050,128,210 | 76.5% |
| BTG Pactual Other Vehicles | 5,734,142 | 0.3% | 11,468,284 | 2.4% | 0 | 0.0% | 17,202,426 | 0.6% |
| BTG Pactual Partners Vehicles | 41.118.150 | 2.4% | 82.236.300 | 16,9% | 0 | 0.0% | 123.354.450 | 4.6% |
| Free-Float Total(1), (2) | 163.638.895 | 9.4% | 327.277.790 | 67,3% | 0 | 0.0% | 490.916.685 | 18.3% |
| Total | 1,746,065,322 | 100.0% | 486,180,110 | 100.0% | 449,356,339 | 100.0% | 2,681,601,770 | 100.0% |
| BTG Pactual Holding S.A. | ||||||||
| Partnership Equity | 1,502,975,267 | 86.1% | 0 | 0.0% | 449,356,339 | 100.0% | 1,952,331,606 | 72.8% |
| Shares acquired at Market(1) | 32,598,868 | 2.0% | 65,197,736 | 13.4% | 0 | 0.0% | 97,796,604 | 3.6% |
Note:
(1) Includes shares from December 2010 Investors, Former Celfin Shareholders and Former Bolsa y Renta Shareholders
(2) Some shares subject to lock-up. Subsequent to the expiration of lock-up may be sold into free float