Davis Polk advised Natura &Co Holding S.A. in connection with a global offering of 121,400,000 common shares for approximately R$5.6 billion ($1 billion). The global offering was comprised of an international offering of common shares, including common shares represented by American depositary shares, conducted by the international underwriters in the United States and elsewhere outside Brazil. The concurrent Brazilian offering consisted of an offering of common shares in Brazil. Each ADS represents two common shares of Natura &Co. The common shares are listed on the Brazilian Stock Exchange under the symbol “NTCO3” and the ADSs are listed on the New York Stock Exchange under the symbol “NTCO.”

Natura &Co is a global, purpose-driven, multi-channel and multi-brand cosmetics group, which includes Avon, Natura, The Body Shop and Aesop. The four companies that form the group are committed to generating positive economic, social and environmental impact. For 130 years Avon has stood for women: providing innovative, quality beauty products which are primarily sold to women, through women. Founded in 1969, Natura is a Brazilian multinational group in the cosmetics and personal care segment and a leader in direct sales. Founded in 1976 in Brighton, England, by Anita Roddick, The Body Shop is a global beauty brand that seeks to make a positive difference in the world. The Australian beauty brand Aesop was established in 1987 with a quest to create a range of superlative products for skin, hair and the body.

The Davis Polk corporate team included Manuel Garciadiaz, Lourenço Lopes-Sabino and Hugo Casella. Mario J. Verdolini and Joseph M. Gerstel provided tax advice. Brantley Hawkins provided 1940 Act advice. Members of the Davis Polk team are based in the São Paulo and New York offices.

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