Company: BBD
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001292814-25-001244
Chunk: 27

Company: BANK BRADESCO
Filing Date: 2025-03-31
Form: 20-F
Item: Item 10
Chunk 27
---
treated as a partnership for U. S. federal income tax purposes holds shares or ADSs, the tax treatment of a partner will generally depend
upon the status of the partner and the activities of the partnership. Partners in such partnerships should consult with their tax advisors
regarding the consequences of an investment in the shares or ADSs.

The shares will be treated
as equity for U. S. federal income tax purposes. For purposes of the U. S. Internal Revenue Code of 1986, as amended, or the “ Code”,
holders of ADSs generally will be treated as owners of the shares represented by such ADSs.

  215 – Form 20-F 2024 | Bradesco  

  Table of Contents  

10. E.10.09-01 Taxation
of distributions

A U. S. holder will recognize
dividend income for U. S. federal income tax purposes in an amount equal to the amount of any cash and the value of any property distributed
by us as a dividend to the extent that such distribution is paid out of our current or accumulated earnings and profits, as determined
for U. S. federal income tax purposes, when such distribution is received by the custodian (or by the U. S. holder in the case of a holder
of shares). The amount of any distribution will include the amount of Brazilian tax withheld on the amount distributed, and the amount
of a distribution paid in reaiswill be measured by reference to the exchange rate for converting reais into U. S. dollars in effect
on the date the distribution is received by the custodian (or by a U. S. holder in the case of a holder of shares). If this custodian (or
U. S. holder in the case of a holder of shares) does not convert such reaisinto U. S. dollars on the date it receives them, it is
possible that the U. S. holder will recognize foreign currency loss or gain, which would be ordinary loss or gain, when the reaisare converted into U. S. dollars. Dividends paid by us will not be eligible for the dividends received deduction allowed to corporations
under the Code.

Subject to certain exceptions
for short-term and hedged positions, the U. S. dollar amount of dividends received by an individual with respect to the ADSs will be subject
to taxation at reduced rates if the dividends are “qualified dividends”. Dividends paid on the ADSs will be treated