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Material Fact - Incentivized Plan for Voluntary Employment Termination

Material Fact

INCENTIVIZED PLAN FOR VOLUNTARY EMPLOYMENT TERMINATION

BANCO DO ESTADO DO RIO GRANDE DO SUL S.A. ("Banrisul"), in compliance with the provisions of Law No. 6,404, of December 15, 1976, as amended, and the regulations of the Brazilian Securities and Exchange Commission ("CVM"), in CVM Instruction 358, of January 3, 2002, in addition to the Material Facts disclosed on August 17, 2020 and on September 14,2020, informs that the period for employee enrollment to the Voluntary Termination Plan has ceased, with 903 (nine hundred and three) employees subject to the terms of the redundancy plan. The measures for the implementation of these job terminations are now under process by Banrisul.

The Voluntary Employment Termination Plan, in addition to exceeding the number of employees who joined previously termination plans offered by the Company, has incorporated clauses for the complete settlement of the labor contract, as per current labor laws and as negotiated with Union entities representing employees in the financial industry.

Banrisul will keep its shareholders and the market informed of any new facts regarding the subject.

Porto Alegre, October 19, 2020.

Marcus Vinícius Feijó Staffen
Chief Financial and Investor Relations Officer

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Contact IR

Phone: +55 51 3215-3232
E-mail: ri@banrisul.com.br

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