ContractDeposit Agreement • September 25th, 2020 • JPMorgan Chase Bank, N.A. - ADR Depositary • American depositary receipts • New York
AMENDMENT NO. 1, dated as of , 2020 (the "Amendment"), to the Further Amended and Restated Deposit Agreement dated as of March 22, 2019 (the "Deposit Agreement"), among Gerdau S.A., incorporated under the laws of the Federative Republic of Brazil (the "Company"), JPMorgan Chase Bank, N.A., as depositary (the "Depositary"), and all Holders and Beneficial Owners from time to time of American depositary receipts ("ADRs") issued thereunder.
