Search Funds are business companies made up of Brazilian and/or foreign investors and investment funds whose objective is to acquire a
consolidated company.

Thus, the initial constitution of the Search Fund comes from the union of investors who make an initial contribution to the Search phase. Once the search has been carried out and a business company has been defined for acquisition, there is a capital call for investors, who will be able to participate in the acquisition with the same percentage contributed in the Search phase, starting thus, the effective M&A operation for the acquisition, by the Search Fund, of the target company.

NMBM has expertise with the Search Fund modality, from the incipient moment of the operation, with the constitution of the company for the Search phase until the completion of the M&A of the acquisition of the target company.

Therefore, the action includes, among other points:

➢ Constitution of the company for the Search Fund phase; > Preparation of documents for the acquisition of the target company, such as NDA, Term Sheet, Memorandum of Understanding, Shareholding Purchase and Sale Agreements and other documents related to the conclusion of the Transaction;

➢ Preparation of documents for the acquisition of the target company, such as NDA, Term Sheet, Memorandum of Understanding, Shareholding Purchase and Sale Agreements and other documents related to the conclusion of the Transaction.