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Material Fact - Incentivized Plan for Voluntary Employment Termination

Material Fact


BANCO DO ESTADO DO RIO GRANDE DO SUL S.A. ("Banrisul"), in compliance with the provisions of Law No. 6,404, of December 15, 1976, as amended, and the regulations of the Brazilian Securities and Exchange Commission ("CVM"), in CVM Instruction 358, of January 3, 2002, in addition to the Material Facts disclosed on August 17, 2020, September 14, 2020 and on October 19,2020, informs that, after measuring the financial impacts, the Voluntary Termination Plan is expected to have implementation costs of about R$180 million, and estimated annual savings of R$160 million from 2021 onwards.

Banrisul will keep its shareholders and the market informed of any new facts regarding the subject.

Porto Alegre, November 10, 2020.

Marcus Vinícius Feijó Staffen
Chief Financial and Investor Relations Officer

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