Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE AC ...

Gerdau S.A. (NYSE:GGB) Q4 2023 Earnings Conference Call February 21, 2024 10:00 AM ET Company Participants Renata Oliva Battiferro – Head-Investor Relations Gustavo Werneck – Chief Executive Officer Rafael Japur – Chief Financial Officer Conference Call Participants Daniel Sasson – Itaú Leonardo Correa – BTG Pactual Marcio Farid – Goldman Sachs Rafael Barcellos – Bradesco Guilherme Rosito – Bank of America Renata Oliva Battiferro Good afternoon, everyone. Welcome to Gerdau's Earnings Release Call for the Fo ...

¹ Global Revolving Credit Facility ² With no deferred expenses 14 R$2.6 b R$175 M R$0.05 PER SHARE (R$ million) Buyback (R$ million) Payout¹ Dividends distributed 4Q23 PAYOUT ABOVE THE STIPULATED MINIMUM, EVEN AMID A CHALLENGING BACKDROP GGBR4 1. Shareholder payments / Parent Company's net income after booking the reserves set forth in the Bylaws. 2. Closing price in 2023 over the closing price in 2018, in the original currency and adjusted by dividends (including the buyback program and bonus shares). This ...

Now moving to the next slide, I will now talk about our special steel business operation. The automotive market in the U.S. continues to perform well, with the production of light and heavy vehicles reaching 15,332,000 units respectively, still below historical levels. In addition, the oil and gas segment remains resilient, with rig counts stable when compared to the previous period. In turn, the outlook for the special steel market in Brazil continues to be influenced by uncertainties linked to access to c ...

G E R D A U S.A. Condensed cons o l i d a t e d i n t e r i m fi n a n c i a l s t a t e m e n t s a s o f S e p t e m b e r 3 0, 2 0 2 3 E x h i b i t 9 9.1 GERDAU S.A. CONSOLIDATED BALANCE SHEETS In thousands of Brazilian reais (R$) (Unaudited) | | Note | September 30, 2023 | December 31, 2022 | | --- | --- | --- | --- | | CURRENT ASSETS | | | | | Cash and cash equivalents | 4 | 2,914,529 | 2,475,863 | | Short-term investments | 4 | 3,088,139 | 2,959,135 | | Trade accounts receivable | 5 | 5,738,421 | 4,9 ...

Raw steel 72% ■ High interest rates and a slowdown in sectors such as industry and retail continue to affect domestic demand for steel ■ Concerns related to greater penetration of imported steel in Brazil(including import of machinery and equipment) ■ Appreciation of the real and lower international steel prices putting pressure on the competitiveness of exports 25.7% Consolidated EBITDA ■ A slight resumption of real estate launches, injection of funds from governmental programs (Minha Casa Minha Vida) and ...

Daniel Sasson Our next question is from Rafael Barcellos sell-side analyst from Santander. So please enable his camera. Renata Oliva Battiferro Good morning Werneck, Japur and Renata, thank you for taking my questions. And the last time you talked to investors, one of the main discussion points was related to cost, mainly due to the fact that we look at some figures that are referenced for price, so the – that are coming down. So the cost debate is very important, because it helps help us understand about m ...

G E R D A U S.A. Condensed cons o l i d a t e d i n t e r i m fi n a n c i a l s t a t e m e n t s a s o f J u n e 3 0, 2 0 2 3 E x h i b i t 9 9.1 GERDAU S.A. CONSOLIDATED BALANCE SHEETS In thousands of Brazilian reais (R$) (Unaudited) | | Note | June 30, 2023 | December 31, 2022 | | --- | --- | --- | --- | | CURRENT ASSETS | | | | | Cash and cash equivalents | 4 | 2,556,042 | 2,475,863 | | Short-term investments | 4 | 1,628,600 | 2,959,135 | | Trade accounts receivable | 5 | 5,593,428 | 4,999,004 | | Inve ...

Exhibit 99.1 GERDAU S.A. Condensed consolidated interim financial statements as of March 31, 2023 GERDAU S.A. CONSOLIDATED BALANCE SHEETS In thousands of Brazilian reais (R$) (Unaudited) | | Note | March 31, 2023 | December 31, 2022 | | --- | --- | --- | --- | | CURRENT ASSETS | | | | | Cash and cash equivalents | 4 | 2,581,882 | 2,475,863 | | Short-term investments | 4 | 3,243,455 | 2,959,135 | | Trade accounts receivable | 5 | 5,999,188 | 4,999,004 | | Inventories | 6 | 17,184,069 | 17,817,585 | | Tax cre ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE AC ...