SÃO PAULO, May 2, 2024 /PRNewswire/ -- 1Q24 Highlights

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of R$ 2.8 billion in the first quarter, up 38.0% over 4Q23.

Adjusted Net Income of R$ 1.2 billion in 1Q24, 70.1% higher than 4Q23.

Dividend distribution in the amount of R$ 0.28 per share, equivalent to R$ 589 million, to be paid based on 1Q24 results.

On April 22nd, 2024, Gerdau's shareholders received, as a bonus, 1 new share for every 5 shares of the same type.

Gerdau has the best reputation among industry players in Brazil, according to the 10th edition of the Merco Ranking, maintaining its position as the only steel producer in the overall ranking and the leader in the "Mining, Steel, and Metallurgy" category.

Accident frequency rate reached an all-time low, 0.47, reinforcing Gerdau's commitment to becoming one of the safest companies in the sector.

Additional Information

Gerdau S.A. informs that it is filling today its 1Q24 results at the Securities and Exchange Commission (SEC) and at the Comissão de Valores Mobiliários (CVM), which are available at Gerdau's website. To access this document, please click on https://ri.gerdau.com/en/notices-and-results/results-center/.

The 1Q24 Valuation Guide is also available at Gerdau's website.

https://ri.gerdau.com/en/financial-information/valuation-guide/

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SOURCE Gerdau S.A.

GERDAU S.A. - CONSOLIDATED INFORMATION