Loans and Financing On March 31, 2020, Cosan Limiteds (CZZ Corporate) gross debt totaled R$ 4.2 billion, in line with
4Q19. Cash and cash equivalents came to R$ 474 million in 1Q20, compared to 433 million at the close of the 4Q19. This increase reflects Real depreciation between December 31, 2019 and March 31, 2020, compensating the acquisition
of R$ 270 million worth of Cosan S.A. shares. CZZ Corporates net debt ended the period at R$ 3.8 billion (ex-IRFS 16). Opening balance of pro forma net debt 3,586.6 0.6 580.4 4,167.6 6,118.5
2,309.3 12,595.3 6,382.1 3,272.3 22,249.7 Cash, cash equivalents and marketable securities 1,283.6 654.5 5,501.6 7,439.7 1,357.5 651.2 9,448.4 3,714.9 433.2 13,596.5 Gross Debt 4,870.2 655.1 6,082.0 11,607.3 7,476.0 2,960.5 22,043.8 10,096.9 3,705.5
35,846.2 Cash items (101.9) (34.6) (1,845.4) (1,981.9) (367.5) 23.1 (2,326.2) 460.2 235.5 (1,630.5) Funding 25.1 51.1 - 76.2 708.7 101.4 886.3 930.0 - 1,816.3 Payment of principal on loans and borrowings (146.1) (104.9) (1,700.0) (1,951.0) (980.9)
(50.2) (2,982.1) (221.6) - (3,203.7) Payment of Interest on loans borrowings (7.3) (3.2) (189.2) (199.6) (95.2) (28.1) (322.9) (273.1) (158.2) (754.3) Derivatives 26.4 22.4 43.8 92.5 - - 92.5 24.9 393.8 511.2 Noncash items 72.1 115.0 518.0 705.2
904.1 (182.1) 1,427.1 309.3 284.7 2,021.1 Provision for interest (accrual) 66.8 4.2 106.9 177.9 79.7 32.6 290.2 174.4 59.4 524.1 Monetary variation and MTM adjustment of debt 16.7 94.5 246.2 357.5 52.9 (14.7) 395.7 950.6 966.8 2,313.2 Exchange
variation, net of derivatives (11.5) 16.3 164.9 169.8 771.5 (200.1) 741.2 (815.8) (741.6) (816.2) Closing balance of gross debt 4,840.4 735.5 4,754.6 10,330.6 8,012.6 2,801.5 21,144.7 10,866.4 4,225.7 36,236.8 Cash, cash equivalents and marketable
securities 1,110.9 828.0 3,227.6 5,166.5 3,236.9 1,083.5 9,486.9 3,513.2 474.3 13,474.4 Closing balance of pro forma net debt 3,729.5 (92.5) 1,527.1 5,164.1 4,775.8 1,718.0 11,657.8 7,353.2 3,751.4 22,762.4 Obligations due to preferred shareholders
of subsidiaries - - 618.9 618.9 - - 618.9 - - 618.9 Leasing (IFRS 16) 10.1 44.5 28.0 82.6 1,868.8 337.0 2,288.5 4,104.4 10.5 6,403.4 Total pro forma net debt and obligations due to preferred shareholders of subsidiaries 3,739.6 (48.0) 2,174.0
5,865.6 6,644.6 2,055.0 14,565.2 11,457.5 3,761.9 29,784.7