Firm	Analyst	Rating	Phone
BES	Gilberto Pereira de Souza	In revision	(55 11) 3074-7325
Citigroup	Tereza Mello	Buy	(55 11) 4009-2839
Credit Suisse	Emerson Leite	Outperform	(55 11) 3841-6306
Deutsche Ixe	Marcus Sequeira	In revision	(1 212) 250-3255
Fator Corretora	Lika Takahashi	Buy	(55 11) 3049-9477
Itaú	Paula Kovarsky	Buy	(55 11) 5029-1007
Morgan Stanley	Subhojit Daripa	Over-weight	(55 11) 3048-6112
Morning Star	Sumit Desai		(1 312) 696-36049
Raymond James	Felipe Santos	Hold	(55 11) 4850-2500
Santander	Christian Audi	Buy	(1 212) 350-3991
UBS Pactual	Gustavo Gattass	Buy	(55 21) 3262-9299
Unibanco	Vladimir Pinto	Buy	(55 11) 3584-1162
Votorantim Corretora	Marcos Pereira	Buy	(55 11) 3043-5562

Ultrapar Participações S/A is followed by the analysts listed above. Please note that any opinions, estimates or forecasts regarding Ultrapar Participações S/A's performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Ultrapar Participações S/A or its management. Ultrapar Participações S/A does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.