BANESE | Material Fact

MATERIAL FACT

Banco do Estado de Sergipe S.A. hereby informs its shareholders and the market in general that the Board of Directors’ Meeting held on September 23, 2020, registered a proposal to increase the capital stock by seventy-eight million reais (R$78,000,000.00), from three hundred and forty-eight million reais (R$348,000,000.00) to four hundred and twenty-six million reais (R$426,000,000.00), through the capitalization of reserves, with no change in the number of shares.

The increase in the capital stock is aimed at strengthening the bank’s capital structure through the final absorption of such funds into the Company’s equity.

The proposal presented by the Board of Directors will be analyzed by the Extraordinary Shareholders’ Meeting to be held on October 15, 2020 to resolve on the capital increase and the consequent change in the Bylaws.

Subsequently, the capital increase process will be submitted for approval by the Central Bank of Brazil.

Aracaju-SE, September 23, 2020.

Helom Oliveira da Silva

Chief Financial, Control and Investor Relations Officer