Jive Distressed & Special Sits IV Qualificado

The objective of Fund V is to provide capital gains and achieve a target return to investors of approximately 19.0% per annum net (CDI+5.8% per annum) through the preponderant allocation of its Class resources (as defined in the Regulation) in Invested Quotas (as defined in the Regulation), in accordance with the investment policy ("Investment Policy") set forth in the descriptive annex to the Regulation of Fund V ("Regulation").

Qualified investors, as defined under articles 12 and 13 of CVM Resolution No. 30, of May 11, 2021, as amended ("CVM Resolution 30").

The Investment Policy of the Class provides for the allocation of a minimum of 67% (sixty-seven percent) of the Net Assets (as defined in the Regulations) of the Class in Invested Quotas ("Minimum Allocation"), provided that: (i) up to 10% (ten percent) of the Net Assets of the Class may be allocated in Invested Quotas of the Master Fund (Professional) (as defined in the Regulations); and (ii) the remaining portion of the Net Assets to be allocated in Invested Quotas to satisfy the Minimum Allocation shall be represented by quotas of the Master Fund (Qualified) (as defined in the Regulations). Invested Quotas include quotas of the Master Funds (as defined in the Regulations) and of any other credit rights investment funds compatible with the Investment Policy, provided that the liability regime applicable to the shareholders of the respective classes is limited liability.

The Master Fund (Qualified), being a class intended exclusively for qualified investors, pursuant to Normative Annex II of CVM Resolution No. 175, of December 23, 2022, as amended ("CVM Resolution 175"), may conduct any operations and investments permitted to classes of credit rights investment funds intended for qualified investors, including, without limitation, the acquisition of Credit Rights (as defined in the Regulations) in standardized form, in any of the categories of structured credit, distressed assets, real estate assets, special situation assets, and new opportunity assets, observing the eligibility criteria set forth in the respective regulations and the concentration limits per obligor, issuer, and type of credit right provided for in the applicable regulations and in the respective regulations.

The Master Fund (Professional), being a class intended exclusively for professional investors, pursuant to Normative Annex II of CVM Resolution 175, may conduct any operations and investments permitted to classes of credit rights investment funds intended for professional investors, including, without limitation: (i) the acquisition of Credit Rights in standardized and non-standardized form, the latter pursuant to article 15 of Normative Annex II of CVM Resolution 175, in any of the categories of structured credit, distressed assets, real estate assets, special situation assets, and new opportunity assets, observing the eligibility criteria set forth in the respective regulations; (ii) non-compliance with concentration limits per obligor, issuer, and type of credit right, pursuant to article 52, item I, of Normative Annex II of CVM Resolution 175; and (iii) other operations permitted by CVM Resolution 175 and Normative Annex II to classes intended exclusively for professional investors, observing the respective regulations.

Due to the Investment Policy, the Class shall not directly acquire Credit Rights in the ordinary course of its activities, but may be indirectly exposed to Credit Rights comprising the portfolios of the Master Funds and other Credit Rights Investment Funds whose quotas form part of the Invested Quotas. The allocation of resources in Invested Quotas and Financial Assets (as defined in the Regulations) intended exclusively for professional investors, as defined in articles 11 and 13 of CVM Resolution 30, shall be limited to 20% (twenty percent) of Net Assets. Within this limit, up to 10% (ten percent) of Net Assets may be invested in Invested Quotas issued by classes whose Investment Policy permits the acquisition of non-standardized credit rights, including the Master Fund (Professional), observing the limits and other conditions set forth in the Regulations and in the applicable regulations.

The residual portion of the Net Assets of the Class shall be maintained in national currency or invested exclusively in: (a) federal government securities; (b) fixed income financial assets issued by or with the co-obligation of financial institutions; (c) repurchase operations backed by the assets referred to in items "(a)" and "(b)" above; and (d) quotas of classes of investment funds that invest exclusively in the assets referred to in items "(a)" through "(c)" above.