The “Research Houses”, also known in Brazil as “Casas de Análises”, are private companies that produce specialized on economic research and analysis of the economic-financial feasibility of investment projects - acting as a specialized publisher and advisory services firm. This type of business, very common in the financial and capital markets of the United States of America and Europe, gained space in Brazil, focusing on investment advice and securities consulting. However, INFRAPAR RESEARCH LTD.. is an ESG Investing & Econometric Climate Modeling House, focused on research on the green economy ("green economics"), studies on economic regulation and analysis of economic and financial feasibility of investment projects - working exclusively in economic studies, without any securities advisory or investment advisory activity. The main focus of the company's activities is on market studies, evaluation and contribution to regulatory frameworks, budgeting and evaluation of the economic viability of long-term investment projects, in which Infrapar legal vehicles can invest their own resources, or form partnerships of venture capital investors in Brazil and abroad. These businesses are born from mastering the instruments of the Climate Economy and ESG Investing, ensuring relevant competitive advantages. Therefore, in some situations, the services provided by INFRAPAR RESEARCH LTD. may result in relevant equity interests, managed by Infrapar as a Brazilian holding company.