Monteiro Aranha S/A operates in the Apartment building operators sector. Monteiro Aranha SA (MASA) is a Brazil-based holding company involved in the business portfolio management in various sectors, mainly in the industrial sector. Through its subsidiaries, the Company is mainly engaged in the acquisition, construction, development and sale of real estate properties and providing advisory, consulting and administration services related to real estate investments, as well as insurance and brokerage services and participation in other companies. In addition, the Company is also involved in the telecommunication sector, manufacturing, recycling and export of paper products and distribution of gas and fuel to residential, industrial and commercial sectors, as well as production of ethylene oxide, ethanolamine and glycolic ether acetate for polyester, packaging, ink, varnishes, and cosmetics sectors. The Company's direct subsidiaries are Masa Corretagem de Seguros S/C Ltda., Timbutuva Empreendimentos and Telecel Participacoes Ltda., among others. In
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