Ultrapar Participacoes S A : Minutes of the meeting of the Board of Directors

ULTRAPAR PARTICIPAÇÕES S.A.

Publicly Traded Company

CNPJ Nr. 33.256.439/0001 -39

NIRE 35.300.109.724

MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS

Date, Hour and Place :

September 20, 2023, at 2:30 p.m., at the Company's headquarters, located at Brigadeiro Luís Antônio Avenue, Nr. 1,343, 9th floor, in the City and State of São Paulo, also contemplating participation through Microsoft Teams .

Members in attendance :

1. Members of the Board of Directors undersigned; (ii) Secretary of the Board of Directors, Ms. Denize Sampaio Bicudo; (iii) Chief Executive Officer, Mr. Marcos Marinho Lutz; (iv) Chief Financial and Investor Relations Officer, Mr . Rodrigo de Almeida Pizzinatto; and (v) in relation to item 1, the Officer of Risks, Integrity and Internal Audit, Ms. Fernanda Teves .

Matters discussed and resolutions :

1. The members of the Board of Directors were updated on the Integrity Program adopted by the Company, in particular its main milestones and the activities of the open channel .

2. Considering the resignation of Mr. André Brickmann Areno from his position as a member of the Conduct Committee, the Board members approved the election of Ms. Marina Guimarães Moreira Mascarenhas to occupy said position from this date onwards. The Board members expressed their gratitude and recognition to Mr. Areno for his dedication over the years .

(Mi nut e s of t he Me eti ng of t he Boa rd of Di rect ors of Ul t rapa r Pa rti cip aç ões S . A . ,

he l d on S ep te mb e r 2 0, 202 3)

3. In an executive session of the Board of Directors, the members :

3.1. Approved, in accordance with the stock -based compensation plan of the Company approved at the Company's Annual and Extraordinary General Shareholders' Meeting held on April 19,

2023 ("Plan"), on item 4.2 of the Plan :

1. the Company's 1st Restricted Share-based Compensation
   Program ("Program"), which will be filed at the
   Company's headquarters and stipulates, among other provisions, the institution of the usufruct of the equity rights of all shares, object of the Program in favor of the participants; the vesting period of ten years from this date for the transfer of the ownership of the shares established in usufruct; always in accordance with the provisions of the Plan;
2. the list, which is filed at the Company's headquarters, containing the participants designated to participate in the Program and the equivalent number of shares, as indicated by the Company's People Committee, authorizing the execution of the agreements be tween the Company and each participant of the Program, according to the minutes filed at the Company's headquarters, as well as the granting of usufruct and delivery of shares, under the terms and conditions provided in each agreement .

3.2. Discussed the results of the evaluation of the Company's Executive Board, as well as its succession plan .

(Mi nut e s of t he Me eti ng of t he Boa rd of Di rect ors of Ul t rapa r Pa rti cip aç ões S . A . ,

he l d on S ep te mb e r 2 0, 202 3)

Notes: The resolutions were approved, with no amendments or qualifications, by all Board members.

There being no further matters to discuss, the meeting was concluded, and these minutes were written, read, passed, and signed by all the Board members present.

Jorge Marques de Toledo Camargo - Chairman

Marcos Marinho Lutz - Vice-Chairman

Ana Paula Vitali Janes Vescovi

Fabio Venturelli

Flávia Buarque de Almeida

José Mauricio Pereira Coelho

Peter Paul Lorenço Estermann

Denize Sampaio Bicudo - Secretary of the Board of Directors