Gerdau S A : Board of Directors - Minutes

GERDAU S.A.

Corporate Taxpayer ID (CNPJ): 33.611.500/0001-19

Company Registry (NIRE): 35300520696

Publicly Held Company

MINUTES OF THE BOARD OF DIRECTORS MEETING HELD ON MARCH 16, 2023, AT 10:00 A.M., AT THE REGISTERED OFFICE LOCATED AT AVENIDA DOUTORA RUTH CARDOSO, 8.501, 8º ANDAR, CONJUNTO 2, PINHEIROS, IN THE CITY AND STATE OF SÃO PAULO.

1. All directors participated in the meeting, pursuant to the Charter, which was presided over by Guilherme Chagas Gerdau Johannpeter, with Fábio Eduardo de Pieri Spina acting as secretary.

2. The Board of Directors, in accordance with the Law and the Bylaws, after analysis of the Management Proposal prepared by the Company's Officers, filed at the Company's registered office, and in discussions on the matters on the Agenda, unanimously approved the Management Proposal and its submission for review by the shareholders as well as the call notice for the Annual and Extraordinary Shareholders Meetings of Gerdau S.A., to be held, cumulatively, on April 17, 2023, at 2:00 p.m., with the following Agenda:

In the Annual Shareholders Meeting:

1. Examination of the management report and accounts and the related financial statements for the fiscal year ended December 31, 2022;

2. Allocation of earnings for the fiscal year ended December 31, 2022;

3. Definition of the number of members to be elected to the Board of Directors, with term of office until the Annual Shareholders Meeting that will deliberate on the accounts for the fiscal year ending in 2023;

4. Election of the members of the Board of Directors;

5. Determination of the overall annual compensation of the Company's managers;

6. Definition of the number of members to be elected to the Board of Auditors, with term of office until the Annual Shareholders Meeting that will deliberate on the accounts for the fiscal year ending in 2023;

7. Election of the members of the Board of Auditors and their alternates; and

8. Determination of the monthly remuneration of the members of the Company's Board of Auditors.

In the Extraordinary Shareholders Meeting:

1. Amendment of the wording of the Company's Bylaws in its Article 1, Paragraph 1, in view of the new name of B3 S.A. - Brasil, Bolsa, Balcão and in its Article 4, head paragraph, due to the cancellation of shares and the capitalization of part of the balance of the Profit Reserve account approved in the Board of Directors Meetings held on November 8, 2022 and February 28, 2023, respectively; and

2. Restatement of the Company's Bylaws.

3. No other matters were discussed.

Signatures: Guilherme Chagas Gerdau Johannpeter (Chairman). André Bier Gerdau Johannpeter and Claudio Johannpeter (Vice Chairmen). Gustavo Werneck da Cunha, Claudia Sender Ramirez, Augusto Braúna Pinheiro and Alberto Fernandes (Directors). Fábio Eduardo de Pieri Spina (Secretary).

This is a true copy of the original minutes filed in the company's records.

São Paulo, March 16, 2023

Fábio Eduardo de Pieri Spina

Secretary

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