UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F 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 ACT OF 1934 Commission file number 1-14878 GERDAU S.A. (Exact name of Registrant as specified in its charter) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR ...

4 th quarter of 2020 Quarterly Results * Working Capital 6.6 8.6 9.2 8.5 7.5 4T19 2,327 -441 205 2,330 2,402 4Q19 1Q20 2Q20 3Q20 4Q20 FCF Working Capital (R$ billion) Financial Cycle (days) 62 83 95 63 Free Cash Flow and Financial Cycle R$ Million 1T20 2T20 3T20 4T20 Dec | 19 Mar | 20 Jun | 20 Sep | 20 Dec| 20 49 long profile Cost of Debt Debt Maturity | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------|------------|------------|--------------------------------------- ...

Gerdau SA (NYSE:GGB) Q4 2020 Earnings Conference Call February 24, 2021 12:00 PM ET Company Participants Harley Scardoelli - EVP, CFO & IR Officer Gustavo Werneck - CEO & Director Conference Call Participants Leonardo Correa - BTG Pactual Caio Ribeiro - Crédit Suisse Thiago Lofiego - Bradesco BBI Rodolfo De Angele - JPMorgan Chase & Co. Rafael Barcellos - Santander Investment Securities Carlos De Alba - Morgan Stanley Timna Tanners - Bank of America Merrill Lynch Andreas Bokkenheuser - UBS Investment Bank ...

Gerdau SA (NYSE:GGB) Q3 2020 Results Conference Call October 28, 2020 1:00 PM ET Company Participants Gustavo Werneck - President and Chief Executive Officer Harley Scardoelli - Vice President and Chief Financial Officer Conference Call Participants Leonardo Correa - Banco BTG Pactual. Daniel Sasson - Itaú Corretora de Valores Rodolfo De Angele - JPMorgan Thiago Lofiego - Banco Bradesco BBI Caio Ribeiro - Crédit Suisse AG Carlos De Alba - Morgan Stanley Timna Beth Tanners - BofA Merrill Lynch Andreas Bokken ...

Gerdau S.A. (NYSE:GGB) Q2 2020 Earnings Conference Call August 5, 2020 1:00 PM ET Company Participants Gustavo Werneck - Director, President and Chief Executive Officer Harley Scardoelli - Vice President and Chief Financial Officer Conference Call Participants Daniel Sasson - Itaú BBA Thiago Ojea - Goldman Sachs Caio Ribeiro - Credit Suisse Thiago Lofiego - Bradesco BBI Rodolfo Angele - JPMorgan Leonardo Correa - BTG Pactual Carlos De Alba - Morgan Stanley Marcelo Audi - Cardinal Partners Operator Good afte ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2019 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 ACT OF 1934 Commission file number 1-14878 GERDAU S.A. (Exact name of Registrant as specified in its charter) N/A (Trans ...

Gerdau S.A. (NYSE:GGB) Q3 2019 Earnings Conference Call October 30, 2019 1:00 PM ET Company Participants Gustavo Werneck - Director, President & Chief Executive Officer Harley Scardoelli - Executive Vice President & Chief Financial Officer Conference Call Participants Leonardo Correa - BTG Pactual Daniel Sasson - Itaú BBA Timna Tanners - Bank of America Merrill Lynch Carlos De Alba - Morgan Stanley Thiago Lofiego - Bradesco BBI. Caio Ribeiro - Crédit Suisse Marcio Farid - JPMorgan Operator Good afternoon, a ...

EARNINGS RELEASE 3rd QUARTER OF 2019 Gustavo Werneck President & Chief Executive Officer Harley Scardoelli Chief Financial Officer | --- | --- | --- | |-----------------------------------------------------------------------------------------------|----------------------------------------|--------------------------------------------------------------------------------| | | | | | | | | | Highlights | | | | 3 r d q u a r t e r o f 2 0 1 9 | | | | Free Cash Flow: R$ 1.9 billion Second best quarter in historical ...

Financial Data and Key Metrics Changes - Gerdau reported an adjusted EBITDA of BRL1.6 billion in Q2 2019, down from BRL1.8 billion in Q2 2018, primarily due to the deconsolidation of divested assets and lower margins in Brazil and Special Steel business divisions [17][18] - The EBITDA margin improved year-on-year due to better margins in North and South America business divisions, with a margin of 15.5%, the best in 11 years [8][18] - Financial expenses decreased by 58% year-on-year, from BRL730 million to BRL300 million in Q2 2019, attributed to a lower debt position [14] Business Line Data and Key Metrics Changes - In North America, the EBITDA margin increased from 9.2% in Q2 2018 to 11.1% in Q2 2019, despite a decline compared to Q1 2019 due to market conditions [10] - The Special Steel business in Brazil saw a 3% increase in production and a 12% increase in shipments to the local market, although exports were down 42% due to economic issues in Argentina [36] - The long steel margins in Brazil remained flat compared to Q1 2019, with increased competition and a zero-growth demand scenario [32] Market Data and Key Metrics Changes - Global steel demand is projected to grow by 1.3% in 2019, reaching 1.735 billion tonnes, driven by investments in developed countries and improving performance in emerging economies [25] - In Brazil, apparent steel consumption is expected to grow by 2.1% in 2019, reaching 21.7 million tonnes, supported by civil construction and infrastructure investments [26] - The U.S. economy is expected to grow by 2.6%, with strong demand for construction and infrastructure influencing steel shipments [34] Company Strategy and Development Direction - Gerdau is focusing on a more profitable asset portfolio and stringent cost management, achieving a reduction of 18% in SG&A expenses year-on-year [11] - The company plans to invest BRL1.8 billion in 2019, increasing to BRL2.6 billion in 2020 and 2021, while remaining selective with new investments [39][41] - Gerdau is enhancing its digital transformation and innovation initiatives, including a partnership with Manchester University to explore advanced applications of steel [43][44] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the outlook for Brazil and the U.S., despite challenges in effective demand growth for steel in Brazil [24] - The company anticipates a recovery in steel demand in Brazil, contingent on structural reforms and economic measures [33] - In the U.S., management expects stable margins and a recovery in shipments due to low inventory levels and strong demand [53] Other Important Information - Gerdau issued BRL1.4 billion in debentures to strengthen cash flow and extend the debt profile, indicating good liquidity in the Brazilian market [20] - The company generated BRL361 million in free cash flow in Q2 2019, reversing a negative trend from Q1 [22] - The company’s net debt decreased from BRL14.7 billion in June 2018 to BRL12.5 billion in June 2019, with a net debt to EBITDA ratio of 1.9x [19] Q&A Session Summary Question: Net debt reconciliation and cash generation - Management explained the reconciliation of free cash flow and net debt, highlighting nonrecurring items affecting cash flow calculations [50] Question: Margins expectations in Brazil and the U.S. - Management indicated that metallic spreads in the U.S. remain high, with expectations for stable margins despite challenges in Brazil due to low demand [53][54] Question: North America business developments and cost cuts - Management confirmed successful divestment from rebar assets and ongoing cost reduction efforts, achieving the lowest SG&A in the company's history [67] Question: Special Steel margins and demand recovery - Management noted that recovery in Special Steel margins is slow, with expectations for gradual improvement as inventory levels stabilize [78] Question: CapEx adjustments and project schedules - Management stated that CapEx has been reduced for 2019 but will maintain investments in the coming years, contingent on market recovery [81]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2018 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR o SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commissi ...