WAREHOUSE INSPECTION, WEIGHT AND QUALITY REPORT

This is to certify that, at the request of  ELEVAÇÕES PORTUÁRIAS S.A. we have attended at the warehouses installations, in order to verify the storage of a cargo of Raw Sugar in Bulk, and report as follows:

GOODS DESCRIPTION   : CANE RAW SUGAR

QUANTITY                        :  395.993 METRIC TONS

PRODUCER                     :  USINA BATATAIS S.A

VOLUME                           :  In Bulk

PLACE OF INSPECTION :  ELEVAÇÕES PORTUÁRIAS S.A.

THE INSPECTION

According to our inspection, we hereby certify that the mentioned cargo was stored at ELEVAÇÕES PORTUÁRIAS S.A., at the date and time of our inspection.

Quantity stored:

We have checked the Terminal records and according to the figures given by the Terminal, the total cargo stored by the time of our inspection was calculated to be 395.993 MT of Raw Sugar, in Bulk.

Quality:

Samples were drawn as mentioned. We have homogenized and one of four samples was duly labeled, sealed and delivered to the laboratory for analysis, with the following results, as per ICUMSA (GS1/3-7) terms:

ANALYSIS RESULTS

COLOUR ICUMSA...........751

POLARIZATION..............99,32 DEGREES

MOISTURE....................0,10 PERCENT

ASHES.........................0,10 PERCENT

Storage condition:

As per our visual inspection the Terminal (warehouse) is duly fitted and in good condition to storage of bulk sugar, nothing was observed that may cause any damage to the stored cargo.

SANTOS, JANUARY 21^st, 2020