Institution	Analyst	Logos
Banco do Brasil	Andrea Aznar
Bank of America Merrill Lynch	Robert E. Ford
Bradesco	Pedro Pinto
BTG Pactual	Luiz Guanais
Citi	João Soares
Goldman Sachs	Irma Sgarz
Itaú Unibanco	Thiago Macruz
JP Morgan	Joseph Giordano
Morgan Stanley	Andrew Ruben
Safra	Vitor Pini
Santander	Ruben Couto
Scotiabank	Juan Jose Guzman

UBS

Vinicius Strano

XP Investimentos

Danniela Eiger

Natura &Co is monitored by the analysts mentioned above. Please, note that any opinions, estimates and forecasts regarding the Company’s performance made by these analysts are theirs exclusively and do not represent opinions or forecasts of the Company or its management.

Natura &Co does not adopt or ratify the information or conclusions contained in documents related to the analysts listed, nor does it undertake to publish or correct information stated by them. The opinions expressed in such information may be amended without prior notice.