BNDES Accounting Structure

The BNDES’s financial statements are prepared in accordance with the regulations of the Central Bank of Brazil (BCB) and the National Monetary Council (CMN), and pursuant to the Corporations Law (Law 6,404/1976), State-owned Enterprises Law (Law 13,303/2016), CMN Decree 8,945/2016, and the norms of the Securities and Exchange Commission of Brazil (CVM) for consolidation purposes, when they are not in conflict with BCB and CMN norms. The statements are presented in accordance with the Accounting Plan of National Financial System Institutions (COSIF).

The BNDES also prepares its Consolidated Financial Statements in accordance with International Accounting Standards (IFRS), as issued by the International Accounting Standards Board (IASB) and with the interpretations of the International Financial Reporting Interpretations Committee (IFRIC).

The systematic recording of the companies in the BNDES System is decentralized. In accordance with the Book of Accounting Practices, approved by the BNDES’s Executive Board Resolution 4296/2024 of 10.31.24: “accounting is responsible, among other responsibilities, for the monitoring of records of decentralized accounting, identifying the responsible parties for each ledger account, and requesting adjustments if necessary”.

As defined by the BNDES’s Basic Internal Organization (OIB), the Accounting Department (DEPCO) of the Controllership Division is responsible for “planning, coordinating, guiding and, when applicable, performing the bookkeeping of enterprises in the BNDES System”. DEPCO thus acts as the “guardian” of bookkeeping.

Structure as of 12.31.2024: