Dexco S A : 01/12/2022 Summarized Minutes of the Meeting of the Board Directors

CNPJ nº 97837.181/0001-47

A Public Listed Company

SUMMARY MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS

HELD ON JANUARY 12, 2022

DATE, TIME, FORMAT AND PLACE: on January 12, 2022, at 6:00 p.m., at Avenida Paulista, 1938, 5th floor, city and state of São Paulo.

CHAIR: Alfredo Egydio Setubal (Chairman), Alfredo Egydio Arruda Villela Filho and Helio Seibel (Vice-Chairmen) and Guilherme Setubal Souza e Silva (Secretary).

QUORUM: the totality of the effective members with manifestation by e-mail.

RESOLUTIONS TAKEN: The Board of Directors decided, unanimously:

1. to approve the Company's share repurchase program, by means of which the Company may acquire up to 20,000,000 common shares of its equity, pursuant to the contents of Article 30, Paragraphs 1 and 2, of Law 6,404/76 and to Brazilian Securities and Exchange Commission - CVM Instruction 567/15, provided the terms and conditions of the Attachment to the present Minutes, which is filed at the company's headquarters, for the purposes of information disclosure as provided in Attachment 30-XXXVI to CVM
   Instruction 480/2009 ("Share Repurchase Program");
2. that the repurchase operations shall take place on the stock exchange over a period of 18 months, that is, from January 13, 2022 to July 13, 2022 (including the initial and final dates), at market prices, sing funds available from the Profits Reserve ("Working Capital Reinforcement Reserves") with mediation by Itaú Corretora de Valores S.A.; and
3. to authorize the Company's Executive Board to carry out all actions needed to implement the Share Repurchase Program, explicitly authorizing the Executive Board to trade in shares of the Company whenever it deems appropriate, provided the periods and limits under the Program and other limitations pursuant to the applicable laws and regulations. This authorization includes, without limitation, the acquisition of shares to be held in treasury, subsequent sale in the market and/or cancellation, without reducing the Company's capital stock, in accordance with article 30 of Law 6,404/76 and CVM Instruction 567/15.

CLOSING: with the work of the meeting concluded, these minutes were drafted, read, and approved by the Directors with manifestation by e-mail. São Paulo (SP), January 12, 2022. (signed) Alfredo Egydio Setubal - Chair; Alfredo Egydio Arruda Villela Filho and Helio Seibel - Deputy Chairs; Andrea Laserna Seibel, Juliana Rozenbaum Munemori, Márcio Fróes Torres, Raul Calfat, Ricardo Egydio Setubal e Rodolfo Villela Marino - Directors; and Guilherme Setubal Souza e Silva - Secretary.

São Paulo (SP), January 12, 2022.

Carlos Henrique Pinto Haddad

Vice President of Administration, Finance and Investor Relations

Pág.1

CNPJ nº 97837.181/0001-47

A Public Listed Company

ATTACHMENT 30-XXXVI TO CVM INSTRUCTION No. 480/09

TRADING IN OWN SHARES

1. Describe the operation's purpose and expected economic effects in detail:

The purpose of the Share Repurchase Program is to maximize the generation of value for the shareholder through efficient management of the capital structure, with the acquisition of common shares of its own issue, to be held in treasury or subsequent sale in the market and/or cancellation, without reducing the Company's capital stock, in compliance with the provisions of the article 30 of Law 6,404/76, and the rules set forth in CVM Instruction 567/2015.

2. Report the number of shares (i) making up free-float; and (ii) already held as Treasury Stock:

Based on the share position as of January 12, 2022 the Company has:

1. 295,712,981 common nominative shares without face value making up free float, according to the definition provided in Article 8, Paragraph 3, of CVM Instruction 567/15; and
2. 6,489,405 common nominative shares without face value held as Treasury Stock.

3. Report the number of shares that may be acquired or divested:

The Company may acquire up to 20,000,000 common nominative shares without face value, representing approximately 6.76% of the total shares making up the free-float at this date.

4. Describe the main characteristics of the derivatives that the Company will employ, if any:

The Company will employ no derivatives for the operation.

5. Describe agreements or voting guidance, if any, between the Company and the operation's counterparty:

Not applicable because the acquisition of shares of the Company's equity stock will take place by means of stock exchange trades. Therefore, no agreements or vote guidance arrangements exist between the Company and its counterparties for the operation.

6. As concerns operations conducted outside of organized securities exchanges, report:

(a) The maximum (minimum) price at which the shares will be acquired (divested); and (b) Where applicable, the justification for trades over 10 (ten) percent higher for acquisitions, or over 10(ten) percent lower for divestments, than the average quote weighted by volume in the 10 (ten) previous days that the stock exchange is open for trading;

Not applicable because the acquisition of shares of the Company's equity stock will not take place outside of organized securities exchanges.

7. Report the impacts, if any, of the trades on the entity's ownership or management structure:

Not applicable. The Company has a defined shareholding control and the maximum number of shares to be acquired is insufficient to affect the composition of the shareholding control or the management structure of the Company.

Pág.2

CNPJ nº 97837.181/0001-47

A Public Listed Company

8. Identify the counterparties, if known, and, where they may be related parties as defined by the accounting standards governing the matter, provide in addition the information required under Article 8 of CVM Instruction CVM 481/2009:

The acquisition operations for shares of the Company's equity stock will take place on the stock exchange. The counterparties cannot be specified in advance, and no such operations will take place with the Company's related parties.

9. Indicate the purpose of the funds raised where applicable:

The shares eventually acquired may remain in treasury, be sold in the market and/or cancelled, without reducing the Company's capital stock, in accordance with article 30 of Law 6,404/76 and CVM Instruction 567/15. Furthermore, in the event that the Company decide to sell shares, as permitted by the program, the proceeds will be allocated to the Company's operations.

10. Indicate the maximum period for settlement of the authorized operations:

The deadline for settling the authorized operations is 18 months, that is, within the period from January 13, 2022 to July 13, 2023 (including the initial and final dates).

11. Identify the intermediating institutions, if any:

The acquisition operations for shares of the Company's equity stock will take place on the stock exchange and be mediated by Itaú Corretora de Valores S.A., with registered offices at Av. Brigadeiro Faria Lima, 3500, 3rd floor, partial, in the city and state of São Paulo, CEP 04538-132.

12. Specify the funds available for use, pursuant to Article 7, Paragraph 1, of CVM Instruction 567/2015:

According to the financial statements for the quarter ending on September 30, 2021, the acquisition of shares of the Company's equity stock shall rely on funds available from the Profits Reserve ("Working Capital Reinforcement Reserves"), in the amount of BRL R$ 576,670,172.13, for the purposes of Article 7, Paragraph 1, of CVM Instruction 567/2015.

13. Specify the reasons why the members of the Board of Directors are comfortable that the share repurchase will not affect honoring obligations with creditors or the payment of required - fixed or minimum - dividends:

The members of the Board of Directors understand that the Company's financial standing is compatible with execution of the Share Repurchase Program as approved, and believe that the share repurchase will not affect honoring obligations with creditors or the payment of minimum required dividend s. This finding arises from analysis of the potential financial amount to be used for the purposes of the Program compared with (i) the level of obligations with creditors, as the Company has the capacity to settle its financial obligations; and (ii) the unrestricted amount at hand as cash, cash equivalents and financial investments of the Company.

_____________________

Pág.3