Commentary & Deal Flow

***This is officially a non-deal roadshow, despite the language mentioning a deal***

The Federative Republic of Brazil (“Brazil”), rated Ba1 by Moody’s, BB by S&P and BB by Fitch, has mandated BBVA, BNP Paribas, BofA Securities and UBS Investment Bank to arrange a series of fixed income investor meetings starting on April 7th, 2026. BofA Securities will be coordinating logistics.

A new SEC-registered, EUR-denominated benchmark-sized Senior Unsecured Notes offering may follow, subject to market conditions.

Brazil will be represented by:

• Daniel Cardoso Leal – National Treasury Secretary

• Helano Dias – Head of Public Debt Operations Department

Investor Login Details:

URL: https://dealroadshow.com

Entry Code: FROBNDR2026

Direct Link: https://dealroadshow.com/e/FROBNDR2026