Company: BBD
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001292814-25-001244
Chunk: 16

Company: BANK BRADESCO
Filing Date: 2025-03-31
Form: 20-F
Item: Item 10
Chunk 16
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 a custodian authorized by the CVM, so that these investors can follow the same rules applicable to investors resident
in respect of custody services.

Joint Resolution No. 13/24
provides that securities held by non-Brazilians may, according to their nature, be held in custody of, or in deposit accounts held in
financial institutions duly authorized by the Central Bank of Brazil and the CVM, as well as in a deposit account or prepayment in a financial
institution or payment institution authorized by the Central Bank of Brazil. In addition, under this resolution, securities trading is
restricted to transactions on Brazilian stock exchanges or organized markets. Under Joint Resolution No. 13/24, which revoked CMN Resolution
No. 4,373/14, the foreign investor, Individual, was waived from the obligation of registering with the CVM. Also, through the innovations
brought by Joint Resolution No. 13/24, the non-resident investors are exempted from the obligation of depositing securities in advance
with a custodian authorized by the CVM, so that these investors can follow the same rules applicable to investors resident in respect
of custody services.

Non-Brazilian holders complied
with Joint Resolution No. 13/24 are allowed to invest in any type of investment available to Brazilian citizens in the financial and securities
markets, with the exception that the Brazilian Constitution limits the ability of non-Brazilian holders to acquire capital of financial
institutions, as mentioned above under “10. B.40 Regulations and Restrictions on non-Brazilian holders”.

When a holder of ADSs exchanges
ADSs for the underlying shares, the holder is entitled to either:

  sell the shares on the stock exchange and remit the proceeds abroad within five business days; or  
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  freely convert the investment in the underlying shares to either an investment under Joint Resolution                                    

  209 – Form 20-F 2024 | Bradesco  

  Table of Contents  

Holders that do not comply
with the rules established by Joint Resolution No. 13/24 may be subject to monetary penalties.

10. E. Taxation

The following summary contains
a description of the principal Brazilian and U. S. federal income tax consequences regarding the acquisition, ownership and disposal of
our shares and ADRs. However, it does not purport to be a comprehensive description of all the tax considerations that may be relevant