Banese | Notice to the Market

NOTICE TO THE MARKET

CLARIFICATION ON ATYPICAL FLUCTUATION OF SECURITIES

Banco do Estado de Sergipe S.A. (“BANESE or Company”), a multiple bank, established as a government-controlled private company, in response to B3 Official Letter 208/2022-SLS dated February 24, 2022 (“Official Letter”) requesting for clarification on atypical fluctuation, hereby informs its shareholders and the market that:

Transcript of the message contained in the Official Letter:

“Given the latest fluctuations in the price of the company’s shares, the number of trades and the trading volume, as shown below, we hereby request you to inform, by February 02, 2022, if you are aware of any fact that can justify these fluctuations.”

*Last updated at 3:45 p.m.”

In this respect, BANESE’s management clarifies that it is not aware of any material act or fact that justifies the latest fluctuations in the price of the company’s shares, the number of trades and the trading volume. Additionally, management is not aware of any fact that has not been disclosed to the market or that is not of public knowledge that might have justified the fluctuation in the price of the company’s shares between February 10, 2022 and February 24, 2022.

We also point out that the atypical trades were conducted during the trading sessions after the disclosure of the Company’s annual results and the release of the Notice to Shareholders that communicated the payment of Interest on Equity for the Second Half of 2021, both of which forwarded to the Brazilian Securities and Exchange Commission (CVM) and broadly disclosed to the market in a timely manner after the market close of February 21, 2022.

Under the terms of the applicable law, the Company communicates that it will keep its shareholders and the market in general informed of any material act or fact regarding its business.

Aracaju (SE), February 25, 2022.

Aléssio de Oliveira Rezende

Chief Financial, Control and Investor Relations Officer