Ownership Breakdown

The following table sets forth the principal holders of Minerva outstanding common shares and their respective shareholdings.

Shareholders Shares %
SALIC (UK) Limited 185,536,600 30.55%
VDQ Holdings S.A. (1) 135,801,295 22.36%
Minerva S.A. 23,053,200 3.80%
Others (free float) 262,892,312 43.29%
Total 607,283,407 100.00%

(1) The ownership of VDQ Holdings by the Vilela de Queiroz Family is as follows: EQMG Participações S.A., 44.0%; Isabel Cristina de Alcântara Queiroz, 13,75%; Marcelo Ancântara de Queiroz, 1,53%;  Beatriz Queiroz Lemann, 1,53%; Frederico Alcântara de Queiroz, 1,53%;  Antonella Martina de Queiroz, 2,62%; Ibar Villeta de Quiroz, 15%; TARM Holdings LTDA, 5%; IQMV Holdings Ltda, 5%; IZQV Holdings Ltda, 5%; EDQV Holdings Ltda, 5%.