Circular Letter CVM/SSE 07/25

SECURITIES AND EXCHANGE COMMISSION OF BRAZIL
Rua Sete de Setembro, 111/2-5th and 23-34th Floors, Center, Rio de Janeiro/RJ – ZIP: 20050-901 – Brazil - Tel.: (21) 3554-8686 Rua Cincinato Braga, 340/2nd, 3rd and 4th Floors, Bela Vista, São Paulo/ SP – ZIP: 01333-010 – Brazil - Tel.: (11) 2146- 2000 SCN Q.02 – Bl. A – Ed. Corporate Financial Center, S.404/4th Floor, Brasília/DF – ZIP: 70712-900 – Brazil -Tel.: (61) 3327-2030/2031 www.cvm.gov.br Circular Letter No. 7/2025/CVM/SSE São Paulo, September 16, 2025. To Administrators of FIDC and FII. Subject: Unification of the registry of FIDC and FII Administrators with the registry of Portfolio Administrators. Dear Sir/Madam,

1. Currently, the CVM has a specific registry for the administrator of Credit Rights Investment Funds - FIDC and another for the administrator of Real Estate Investment Funds - FII. Although both administrators must obtain authorization under CVM Resolution 21 ("RCVM 21"), these FIDC and FII registries are manually updated by the SSE, through the DSEC, upon request by the authorized administrator, as there is no integration with the Portfolio Administrator registry managed by the SIN/GAIN.

2. In this regard, these SSE and DSEC communicate, through this Circular Letter, that, starting from October 1, 2025, the unification of the registry for the category "trustee administrator" will be implemented for all professional administrators of securities portfolios registered with this Autarchy.

3. From the aforementioned date, all institutions registered as trustee administrators will be duly registered in a single manner, covering all categories of funds they administer. Thus, there will be no separate registries for the administration of FIDC or FII, with the caveat that administrators of FIDC, FII, and also FIAGRO must necessarily be qualified as financial institutions, pursuant to the regulations governing the constitution of these categories of funds.

4. It is worth noting that, with the unification, the director responsible for the administration of securities portfolios, for the implementation and compliance of rules, policies, procedures and internal controls, for risk management and for the distribution of investment fund quotas will remain the same for all categories of funds administered by the institution.

5. In case of doubts, please contact the DSEC by email at dsec@cvm.gov.br.

Sincerely,

Marcelo Firmino dos Santos
Head of the Securitization and Agribusiness Division - DSEC Bruno de Freitas Gomes Superintendent of Securitization and Agribusiness - SSE

Document electronically signed by Bruno de Freitas Gomes Condeixa Rodrigues, Superintendent, on 09/16/2025, at 12:13, with basis in art. 6 of Decree No. 8.539, of October 8, 2015. Document electronically signed by Marcelo Firmino dos Santos, Division Head, on 09/16/2025, at 14:09, with basis in art. 6 of Decree No. 8.539, of October 8, 2015. The authenticity of the document can be checked on the site https://sei.cvm.gov.br/conferir_autenticidade, informing the verification code 2430350 and the CRC code 4F261091. This document's authenticity can be verified by accessing https://sei.cvm.gov.br/conferir_autenticidade, and typing the "Verification Code" 2430350 and the "CRC Code" 4F261091. Reference: Process No. 19957.009383/2021-43 SEI Document No. 2430350 Circular Letter 7 (2430350) SEI 19957.009383/2021-43 / pg. 2