[Last updated: 1 February 2026, unless otherwise noted]

Initial and ongoing fees must be paid to both B3 and CVM.

Initial admission

The following listing fees must be paid to B3 for a primary listing:

• BRL 92,690 (approximately US$16,921) must be paid for a publicly-held company seeking admission to the B3 trading environment (for example, in the case of a Level II or III BDR program or domestic companies).
• BRL 4,365 (approximately US$797) for the registration of a non-sponsored Level I BDR program.
• BRL 10,905 (approximately US$1,991) for the registration of a sponsored Level I BDR program.

 Secondary listings are exempted from this fee requirement.

The listing fees to be paid to the CVM correspond to 0.03% of the value of the offering.

Ongoing fees

The annual fees to be paid to B3 are either:

• For a publicly-held company (including domestic companies), the fee will be comprised of a fixed portion of BRL 60,000 (approximately US$10,953), plus a variable portion calculated by multiplying (a) 0.00515% by (b) the corporate capital of the previous corporate year.
• For Level II and III BDR programs, the annual fee to be paid to B3 is BRL 60,000 (approximately US$10,953).
• For a non-sponsored and sponsored Level I BDR program, the annual fee to be paid to B3 is BRL 11,200 (approximately US$2,045).

The fees to be paid to the CVM are calculated and paid on an annual basis, based on the net equity of the publicly-held company (applicable both to domestic or foreign companies), as follows:

Link to Table