QUARTERLY RESULTS Shape the future 1 st quarter| 2022 MACRO ENVIRONMENT 1Q22 1 Apr 21 14 Apr 2127 Apr 21 10 May 2121 May 213 Jun 2116 Jun 2129 Jun 2112 Jul 2123 Jul 215 Aug 2118 Aug 2131 Aug 2113 Sep 2124 Sep 217 Oct 2120 Oct 212 Nov 2115 Nov 2126 Nov 219 Dec 2122 Dec 214 Jan 2217 Jan 2228 Jan 2210 Feb 2223 Feb 228 Mar 2221 Mar 22 1 Apr 21 14 Apr 2127 Apr 21 10 May 2121 May 213 Jun 2116 Jun 2129 Jun 2112 Jul 2123 Jul 215 Aug 2118 Aug 2131 Aug 2113 Sep 2124 Sep 217 Oct 2120 Oct 212 Nov 2115 Nov 2126 Nov 219 ...

Financial Data and Key Metrics Changes - Gerdau reported an adjusted EBITDA of BRL5.8 billion for Q1 2022, with an adjusted EBITDA margin of 28.7%, both record highs for the first quarter [12][13] - Net income reached BRL2.9 billion, a 19% increase year-on-year, while net sales totaled BRL20,030 million, reflecting a 24% increase compared to the same period last year [13] - The company achieved shipments of 3.1 million tons during the quarter, indicating strong demand [13] Business Line Data and Key Metrics Changes - In North America, adjusted EBITDA tripled year-on-year to BRL2.7 billion, with a record adjusted EBITDA margin of 33% [15] - The special steel operation's EBITDA was higher than both the previous quarter and the same quarter last year, despite challenges in the light vehicle market due to chip shortages [24] - The long and flat steel segment in Brazil showed healthy demand levels, with expectations of up to 4% year-on-year growth in actual demand for 2022 [30] Market Data and Key Metrics Changes - The construction sector in Brazil is expected to have a strong year, with a normalized inventory level for real estate at approximately 11 months and a forecast for the second-best historical year in property launches [31] - In Argentina, the construction sector grew nearly 31% year-on-year in 2021, with a positive outlook for 2022 [36] - The U.S. construction sector saw significant investment, with BRL360 billion spent in the first quarter, indicating robust demand for steel [42] Company Strategy and Development Direction - Gerdau is focusing on digital transformation and improving productivity in North America, with an investment of BRL300 million for modernization in Canada [20][21] - The company is committed to enhancing its ESG agenda, including investments in renewable energy and reducing greenhouse gas emissions [51][52] - Gerdau plans to continue investing in its operations to improve profitability and productivity, particularly in the U.S. market [19][21] Management's Comments on Operating Environment and Future Outlook - Management noted that the conflict between Russia and Ukraine has led to increased raw material prices, impacting production costs, but Gerdau's operations remained unaffected due to safety stocks [8][9] - The outlook for North America remains positive, with a strong backlog of orders and high capacity utilization levels [16][17] - Management expressed confidence in maintaining high margins and strong operational performance despite challenges such as labor shortages and inflation [64][65] Other Important Information - Gerdau announced a share buyback program aimed at acquiring up to 55 million preferred shares, reflecting confidence in its cash generation capacity [48][49] - The company is also set to pay dividends totaling BRL964 million on May 26, 2022, and BRL314 million for Metalurgica Gerdau [47] Q&A Session Summary Question: What is the outlook for metal spread in the US considering the shortage of scrap? - Management indicated that while there is a shortage of prime scrap due to reduced automotive production, the outlook for metal spread remains positive, supported by a strong backlog and high demand [61][62] Question: Regarding the buyback program, will it continue as long as net debt over EBITDA is close to your goal? - Management stated that the buyback program is based on the belief that their stock is undervalued and will be reassessed based on leverage and cash generation capacity [71] Question: What about the infrastructure pipeline in the U.S.? - Management expects the infrastructure package to contribute to demand starting in November, with strong spending in the construction sector already observed [73][74] Question: Will the 33% margin in Q1 be maintained in the second quarter? - Management expressed confidence that margins will be maintained above Q1 levels due to strong operational performance and high metal spreads [85]

GERDAU S.A. Condensed consolidated interim financial statements as of March 31, 2022 Exhibit 99.1 GERDAU S.A. CONSOLIDATED BALANCE SHEETS In thousands of Brazilian reais (R$) (Unaudited) | | Note | March 31, 2022 | December 31, 2021 | | --- | --- | --- | --- | | CURRENT ASSETS | | | | | Cash and cash equivalents | 4 | 4,895,161 | 4,160,654 | | Short-term investments | 4 | 2,695,636 | 2,626,212 | | Trade accounts receivable | 5 | 6,756,022 | 5,414,075 | | Inventories | 6 | 16,317,038 | 16,861,488 | | Tax cre ...

Financial Data and Key Metrics Changes - Gerdau achieved a historical EBITDA of BRL23 billion for the year 2021, with Q4 2021 EBITDA reaching BRL6 billion and an EBITDA margin of 27.8% [20][30] - The company reported a positive free cash flow of BRL3.4 billion in Q4 2021, marking the second-best quarterly cash flow result in its history [27] - The net debt at the end of 2021 was BRL7.3 billion, a reduction of BRL1.4 billion from the previous quarter, with a net debt to EBITDA ratio of 0.30 times [33][34] Business Line Data and Key Metrics Changes - Brazil BD reported an EBITDA of BRL2.8 billion in Q4 2021, with an EBITDA margin of 31% [21] - North American operations posted a record EBITDA of BRL2.2 billion in Q4 2021, with a margin of 27% [23] - Special steels operations reported an EBITDA of BRL540 million with an 18% margin in Q4 2021 [25] - South America achieved an EBITDA of BRL521 million with a margin of 23% in Q4 2021 [26] Market Data and Key Metrics Changes - The U.S. GDP grew by 5.7% in 2021, with a forecast of 4% growth for 2022 [46] - The Architectural Billing Index and the Institute For Supply Management Index remained above 50 points, indicating strong activity in the non-residential construction sector [47] - In Brazil, the construction sector's GDP is forecasted to advance by 3.2% in 2022, supported by high levels of active construction sites [59] Company Strategy and Development Direction - Gerdau aims to reduce greenhouse gas emissions to below 50% of the global average for the steel industry by 2031, with plans to invest in renewable energy and enhance energy efficiency [37][39] - The company is focusing on expanding its operations in North America and improving productivity, with significant investments planned for 2022 [48][66] - Gerdau is also evaluating opportunities in wind power and aims to diversify into complementary businesses [43] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2022, expecting it to be one of the best years in the company's history, driven by strong demand in North America [86][88] - Challenges such as labor shortages, inflation, and logistical issues were acknowledged, particularly in North America [49] - The company anticipates stable profitability levels in Brazil, despite some margin pressures due to costs [104] Other Important Information - Gerdau plans to distribute BRL0.20 per share in dividends for Q4 2021, totaling BRL5.4 billion in dividends for the year, the highest in the last decade [36] - The company reduced its gross debt by BRL3.1 billion in Q4 2021, primarily through bond repurchases and loan payments [31] Q&A Session Summary Question: Capital allocation and dividend expectations - Analysts inquired about the potential for excess free cash flow to be allocated to dividends, given the company's strong cash generation and net debt levels [70] - Management indicated that while dividends are a priority, they will remain cautious and ensure investments meet expected returns [72][81] Question: Cost evolution in Brazil BD - Questions were raised regarding the future evolution of costs, particularly related to charcoal, and the impact on margins [83] - Management acknowledged ongoing cost pressures but expressed confidence in maintaining historically high margins [104] Question: Margin sustainability in North America - Analysts asked about sustainable margin levels in North America post-COVID and the impact of construction cost inflation [111] - Management highlighted efforts to improve margins and maintain competitiveness, with expectations for strong performance in the coming quarters [114]

Quarterly results GERDAU S.A. 3Q21 CONSOLIDATED INFORMATION São Paulo, October 27, 2021 – Gerdau S.A. (B3: GGBR / NYSE: GGB): announces its results for the third quarter of 2021. The consolidated financial statements of the Company are presented in Brazilian real (R$), in accordance with International Financial Reporting Standards (IFRS) and the accounting practices adopted in Brazil. The information in this report does not include the data of associates and jointly controlled entities, except where stated ...

Financial Performance - Net sales for Q3 2021 reached R$21,317,057, a 74.3% increase compared to R$12,222,108 in Q3 2020[4] - Gross profit for the nine-month period ended September 30, 2021, was R$15,630,245, up from R$3,270,361 in the same period of 2020, representing a 377.5% increase[4] - Net income for Q3 2021 was R$5,593,941, compared to R$794,585 in Q3 2020, marking a 605.5% increase[5] - Total comprehensive income for the nine-month period ended September 30, 2021, was R$12,516,690, compared to R$4,365,967 in the same period of 2020, a 186.5% increase[5] - Net income for the nine-month period ended September 30, 2021, was R$11,998,954 thousand, a significant increase from R$1,331,258 thousand in the same period of 2020, representing a growth of approximately 804%[7] - The company reported a basic earnings per share of R$3.27 for Q3 2021, significantly higher than R$0.46 in Q3 2020[4] - For the nine-month period ended September 30, 2021, the net income allocated to common shareholders reached R$3,987,610, up from R$440,371 in the same period of 2020, reflecting an increase of 805%[170] Assets and Liabilities - Total assets as of September 30, 2021, amounted to R$75,362,167, an increase from R$63,123,009 as of December 31, 2020[3] - Current liabilities increased to R$13,155,055 as of September 30, 2021, from R$11,482,143 at the end of 2020, reflecting a 14.6% rise[3] - Retained earnings surged to R$17,052,600 as of September 30, 2021, compared to R$7,292,332 at the end of 2020, indicating a 133.5% increase[3] - The total equity as of September 30, 2021, was R$41,298,404 thousand, compared to R$31,085,210 thousand as of September 30, 2020, reflecting an increase of approximately 32.8%[6] - The total liabilities decreased from R$19,838,551 thousand as of December 31, 2020, to R$18,409,324 thousand as of September 30, 2021, reflecting a reduction of approximately 7.2%[90] Cash Flow and Investments - Cash provided by operating activities for the nine-month period ended September 30, 2021, was R$6,762,082 thousand, compared to R$4,731,562 thousand in 2020, indicating a year-over-year increase of about 43%[7] - The company reported a net cash used in investing activities of R$1,896,608 thousand for the nine-month period ended September 30, 2021, compared to R$1,173,103 thousand in 2020, indicating a rise of approximately 61.6%[7] - The company’s cash and cash equivalents decreased to R$3,976,077 as of September 30, 2021, from R$4,617,204 at the end of 2020[2] - The balance of cash and cash equivalents at the end of the period was R$3,976,077 thousand, a decrease from R$4,171,128 thousand at the end of September 30, 2020[7] Inventory and Receivables - Inventories rose to R$15,653,770 as of September 30, 2021, compared to R$9,169,417 at the end of 2020, reflecting a 70.8% increase[2] - The company experienced an increase in trade accounts receivable by R$2,553,085 thousand for the nine-month period ended September 30, 2021, compared to R$785,106 thousand in 2020[7] - Trade accounts receivable rose significantly to R$6,416,155 thousand as of September 30, 2021, up from R$3,737,270 thousand at December 31, 2020, marking an increase of 71.5%[36] Operational Highlights - The company maintained a strong focus on operational continuity despite the ongoing impacts of the Covid-19 pandemic, implementing various health and safety measures[25][26] - Gerdau S.A. is recognized as a leading recycler in Latin America, transforming millions of tons of scrap into steel annually, reinforcing its commitment to sustainable development[9] - The Brazil Operation generated net sales of R$25,883,446, a 116% increase from R$11,965,795 in 2020[179] - North America Operation net sales increased to R$19,944,509 from R$12,427,931, marking a 60% rise[179] Tax and Legal Matters - The Company has tax contingencies totaling R$474,685 related to ICMS (state VAT) lawsuits[99] - Claims related to Imposto sobre Produtos Industrializados (IPI) amount to R$423,213, while PIS and COFINS claims total R$1,339,534[100] - The Company faces administrative proceedings regarding Withholding Income Tax totaling R$1,347,555, with several lawsuits pending judgment[102] - The Company is involved in ongoing investigations by Brazilian federal authorities regarding potential illegal conduct, but believes it has complied with legal standards[108] Management and Compensation - Management compensation totaled R$39.2 million for the nine-month period ended September 30, 2021, compared to R$18.3 million for the same period in 2020[148] - Contributions for the defined contribution plan totaled R$484 million for the three-month period ended September 30, 2021, compared to R$281 million in the same period of 2020, representing a 72% increase[149] Future Outlook - The company will continue to monitor the steel market throughout 2021 to identify any significant drops in demand, particularly from the automotive and construction sectors, which could impact projections and lead to potential impairment losses[191] - On October 25, 2021, the company proposed a mandatory minimum dividend totaling R$341.1 million (R$0.20 per share) in interest on equity and R$2,421.9 million (R$1.42 per share) in dividends, with payment scheduled for November 16, 2021[192]

I GO GERDAU Shape the future * * * * ＊ *Quarterly results * 2¤ quarter of 2021 EBITDA 663 2,537 3,634 18.6% 36.9% 40.7% 03% 08% 13% 18% 23% 28% 33% 38% 400,0 900,0 1400,0 1900,0 2400,0 2900,0 3400,0 3900,0 4400,0 2Q20 1Q21 2Q21 20.5% North America BD 418 843 1,352 10.5% 14.3% 20.4% 00% 01% 02% 03% 04% 05% 06% 07% 08% 09% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 20% 21% 22% ,0 50,0 100,0 150,0 200,0 250,0 300,0 350,0 400,0 450,0 500,0 550,0 600,0 650,0 700,0 750,0 800,0 850,0 900,0 950,0 1000,0 1050,0 1100,0 ...

Financial Data and Key Metrics Changes - Gerdau reported a record EBITDA of BRL 5.9 billion in Q2 2021, up from BRL 4.3 billion in Q1 2021, marking a significant increase [8][25]. - The net debt decreased to BRL 10.2 billion, down by BRL 600 million from March 2021, reflecting effective debt management [20][22]. - The EBITDA to net debt ratio improved from 0.96x in Q1 to 0.65x in Q2, indicating strong financial leverage [25][26]. - The cash conversion cycle increased from 57 days in March to 60 days in June, primarily due to rising accounts receivable and inventory levels [19]. Business Line Data and Key Metrics Changes - North America operations achieved an EBITDA of BRL 1.4 billion, over three times higher than the previous year, with a margin of 20% [10]. - Brazil's operations posted an EBITDA of BRL 3.6 billion with a record margin of 40.7% [12]. - South America operations reported an EBITDA of BRL 494 million and a margin of 38% [14]. - Special Steel operations generated an EBITDA of BRL 495 million with a margin of 18.7% [15]. Market Data and Key Metrics Changes - North America saw steel capacity utilization exceed 90%, compared to less than 75% in the same quarter last year [11]. - Brazil's steel capacity utilization surpassed 80%, up from about 60% in Q2 2020 [13]. - The civil construction sector in Argentina grew 6.5% monthly and 31% year-on-year [57]. - In Peru, steel consumption remained strong, driven by public investments in construction, with a growth of 20.5% year-on-year [58]. Company Strategy and Development Direction - Gerdau is focusing on domestic market prioritization, with only 10% of shipments earmarked for exports, compared to 30%-40% in previous years [12]. - The company is investing in modernization and expansion of production capacity, with a total CapEx of BRL 3.5 billion estimated for 2021 [59][60]. - Gerdau is committed to sustainability, including a photovoltaic power station project to enhance energy self-sufficiency [33][34]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the second half of 2021, anticipating strong market demand, particularly in construction [68][79]. - The company is well-prepared for potential energy risks due to its self-generation capabilities, which cover 80% of its energy needs [100][102]. - Management noted that while prices in Brazil are stabilizing, there is still room for margin improvement [80][81]. Other Important Information - Gerdau's dividend yield increased from 0.7% in 2017 to over 8% in the last 12 months [28]. - The company has made significant progress in diversity and inclusion, increasing the percentage of women in leadership positions from 17% in 2018 to 23% in 2021 [36][37]. Q&A Session Summary Question: Working capital strategy and preparation for the second half - Management indicated that the working capital strategy is aligned with preparing for a strong market in the second half, emphasizing the importance of maintaining adequate inventories [68][75]. Question: Business environment in Brazil regarding prices - Management acknowledged that price increases have stabilized but emphasized the need to pursue additional margins [67][80]. Question: Potential prepayment of extraordinary dividend payout - Management confirmed the intention to maintain a 30% dividend payout policy while monitoring the tax reform developments [85][87]. Question: Cash cost and scrap prices outlook - Management expects volatility in scrap prices but believes in maintaining profitability through effective cost management [91][93]. Question: Share of civil construction in Brazil operations - Management stated that civil construction accounts for approximately 60% of their business in Brazil, with a focus on serving end consumers [106]. Question: Energy crisis preparedness - Management highlighted their self-generation capacity and increased inventory levels to mitigate potential energy risks [100][102].

Financial Data and Key Metrics Changes - Gerdau's consolidated EBITDA increased from BRL 3.1 billion in Q4 2020 to BRL 4.3 billion in Q1 2021, marking a record EBITDA for the company in a single quarter [10] - The EBITDA margin for North American operations reached 14.3%, approximately 4 percentage points higher than the previous quarter [11] - Brazil's EBITDA was BRL 2.5 billion with an EBITDA margin of 36.9%, another record for a single quarter [13] - The company's net debt at the end of March was BRL 10.8 billion, slightly higher than the end of 2020 due to exchange rate impacts [20] - The financial leverage ratio (EBITDA/net debt) improved from 1.25x in Q4 2020 to 0.96x in Q1 2021 [24] Business Line Data and Key Metrics Changes - North American business unit's EBITDA was BRL 843 million, a 50% increase from the last quarter of 2020 [11] - South America business unit posted an EBITDA of BRL 550 million with a margin of 38% [14] - Special steel operations achieved an EBITDA of BRL 409 million with a margin of 16.8% [14] - The steel utilization capacity for special steels improved to 83% compared to 78% in the previous quarter [15] Market Data and Key Metrics Changes - Global crude steel production grew by 10% in the first half of 2021 compared to the same period last year [35] - Demand for steel is expected to grow by 5.8% in 2021 and 2.7% in 2022 [35] - In Brazil, apparent steel consumption increased by 32.8% in Q1 year-on-year, with domestic sales growing by 29% [53] - The construction sector in Brazil is experiencing a strong recovery, with mortgage loans expected to increase by 27% this year [54] Company Strategy and Development Direction - Gerdau is focusing on simplifying operations, with SG&A expenses reduced to less than 3% of net revenue, down from 6% five years ago [32] - The company is investing in modernization and technological upgrades in North America to expand its product mix [38] - Gerdau is committed to sustainability, with a focus on reducing greenhouse gas emissions and improving production efficiency [76][78] Management's Comments on Operating Environment and Future Outlook - Management sees positive signs for demand growth in both Brazil and the U.S., particularly in the construction sector [82] - The company anticipates strong results in the second half of 2021, driven by infrastructure investments and a robust order backlog [81][84] - There is optimism regarding the impact of the Biden administration's infrastructure investment package on steel demand [41] Other Important Information - Gerdau's return on capital employed reached 14.2%, higher than the previous four years [26] - The company plans to invest BRL 3.5 billion in CapEx for 2021, focusing on high-return projects [65][92] - Gerdau Graphene was launched to develop products with graphene applications, expanding the company's portfolio beyond steel [71] Q&A Session Summary Question: Is there potential for further improvement in 2021 and special dividends? - Management sees potential for expanding results in the second half of 2021, with strong demand in various markets [81][82] Question: What is the likelihood of dropping leverage further and capital allocation going forward? - The company plans to maintain strong cash generation while executing a robust CapEx program [91][92] Question: Can margins above 35% be sustainable going forward? - Management believes that structural conditions will support maintaining margins, influenced by changes in the global steel market [95][96] Question: How is the order portfolio and inventory levels in Brazil? - The inflow of orders remains strong, and inventories are expected to normalize by mid-2021 [110][111] Question: What is the strategy behind the restart of the Araucaria unit in Paraná? - The restart aims to increase crude steel availability, with current utilization around 75% in Brazil [121][122]

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 ...