Shareholder Structure Breakdown

Units Structure

Shares Details	Total Number of Shares	# of shares in the unit
Banco BTG Pactual S.A.	2,796,040,306	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	67.7%
Partnership Vehicles	36,834,013	4.0%
Free Float Total⁽¹⁾	264,215,559	28.3%

Total	932,013,435	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	64.5%
BTG Pactual Holding S.A.	90,559,984	3.2%
Banco BTG Pactual S.A. ⁽¹⁾	0	0.0%
Partnership Vehicles	110,502,039	4.0%
Free Float Total	792,646,676	28.3%

Total	2,796,040,306	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	81.4%	0	0.0%	349,356,340	100.0%	1,802,331,607	64.5%
BTG Pactual Holding S.A.	30,219,248	1.7%	60,340,736	9.1%	0	0%	90,559,984	3.2%
Banco BTG Pactual S.A. ⁽¹⁾	0	0.0%	0	0.0%	0	0%	0	0.0%
Partnership Vehicles	36,834,013	2.1%	73,668,026	11.1%	0	0.0%	110,502,039	4.0%
Free-Float Total	264,182,972	14.8%	528,463,704	79.8%	0	0.0%	792,646,676	28.3%

Total	1,784,211,500	100.0%	662,472,466	100.0%	349,356,340	100.0%	2,796,040,306	100.0%

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

> Shareholder Structure Breakdown