RE MEMBER FUND GP LTD.

Pedro Moreira Salles is the sole principal and decision-maker. He founded the vehicle in 2018 after decades on the board of Itaú Unibanco, the bank his family co-founded. There is no external investment committee and the firm does not employ a separate CIO. Moreira Salles is known for making concentrated, long-horizon commitments and remaining deeply involved in the governance of each holding.

CBMM — Companhia Brasileira de Metalurgia e Mineração — is the fund's largest and most strategically important asset. The Moreira Salles family controls CBMM, which produces roughly 80% of the world's niobium supply from mines in Araxá, Minas Gerais. RE MEMBER FUND holds Pedro Moreira Salles's stake in the company, which is a core, never-sale position that underpins the entire portfolio.

The firm exclusively pursues direct, permanent capital investments with no predetermined exit horizon. It does not invest in third-party venture capital or private equity funds, nor does it participate in secondary transactions or co-investment syndicates. RE MEMBER FUND targets controlling or significant minority stakes in operating businesses, real assets, and farmland, holding them indefinitely. Traditional fund structures with GP/LP dynamics and defined fund lives are not part of the strategy.