Company: BBD
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001292814-25-001244
Chunk: 36

Company: BANK BRADESCO
Filing Date: 2025-03-31
Form: 20-F
Item: Item 3
Chunk 36
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·   Climate change may have adverse effects on our business.
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·   Damage to our reputation could harm our business and outlook.
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·   We may make non-optimal business decisions due to flawed/deficient models, or inappropriate use of those
                                                    models.                                                 
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Summary of risks relating to our risk management and other risks
 
·   Our risk management structure may not be fully effective.
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·                      A majority of our common shares are held, directly and indirectly, by one shareholder and our Board of                  
    Directors is composed of 11 members, including four independent members; accordingly, the interests of non-independent members may conflict
                                                         with those of our other investors.                                                    
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Summary of risks relating to our shares, preferred share ADSs and common share ADSs
 
·              The Deposit Agreements governing the ADSs provide that holders of the ADSs will only receive voting instructions          
    if we authorize the depositary bank to contact those holders to establish voting instructions; and there are practical limitations we
                                                may give such holders on any ability to vote.                                            
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·   Under Brazilian Corporate Law, preferred shareholders have limited voting rights; accordingly, preferred
                   share ADS holders will have similar limitations on their ability to vote.                
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·   The relative volatility and low liquidity of the Brazilian securities markets may substantially limit
              your ability to sell shares underlying the ADSs at the price and time you desire.          
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·   If we do not pay dividends to holders of our common shares and preferred shares, no dividends will be
                                           paid to holders of ADSs.                                      
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·   As an ADS holder you will have fewer and less well-defined shareholders’ rights than in the United
                                 States and certain other jurisdictions.                              
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·   It may be difficult to bring civil liability causes against us or our directors and executive officers
                                              outside of Brazil.                                          
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·   If we issue new shares or our shareholders sell shares in the future, the market price of your ADSs may
                                                  be reduced.                                              
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·   The payments on the ADSs may be subject to U.S. withholding under the Foreign Account Tax Compliance Act
                                                   (“FATCA”).                                               
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·   You may be unable to exercise preemptive rights relating to our shares.
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·   If you exchange your ADSs for their underlying shares, you risk losing Brazilian tax advantages and the