Banco Pine S A : 01/21/2021 - Material Fact - Swap Transaction

BANCO PINE S.A.

Corporate Taxpayer ID (CNPJ/MF) 62.144.175/0001-20

NIRE 35300525515

Public Held Company

MATERIAL FACT

São Paulo, January 21st, 2021 - Banco Pine (B3: PINE4) ("Company"), a Brazilian regional bank focused on corporate relationships, informs its shareholders and the market that the Bank's Board of Directors, in a meeting held on this date, approved the celebration of contracts for the exchange of results of future financial flows (total return equity swap) with financial settlement ("Transaction"), with reference to shares issued by the Company for the purpose of protecting the balance sheet ("hedge").

The contracts may result in exposure in up to 5,000,000 million preferred shares issued by the Company (PINE4), respecting the limit established in the article 8 of CVM Instruction 567/15.

The purpose of the Transaction is to neutralize the possible effects of fluctuations in the prices of PINE4 shares, in the context of the variable compensation plans that are paid to the Company's management, pursuant to CMN Resolution no. 3,921, in Reais with calculation based on the market value of PINE4 shares.

As it is a TRS transaction with exclusively financial settlement, the execution of swap contracts will not result in the acquisition or sale of shares by the Company and will not have an impact on the composition of its shareholding control or its administrative structure.

The Company's Investor Relations Department remains at the disposal of the shareholders to clarify any questions related to the subject matter of this Material Fact through email address [e-mail].

Eduardo Magalhães Fonseca

Investor Relations Officer