Brazilian Potentially Undervalued Companies

Western Digital

Market Cap: R$15.4b

Develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally.

Bilibili

Market Cap: R$8.3b

Provides online entertainment services for the young generations in the People’s Republic of China.

Autohome

Market Cap: R$3.4b

Operates as an online destination for automobile consumers in the People’s Republic of China.

NetApp

Market Cap: R$19.3b

Provides a range of enterprise software, systems, and services that customers use to transform their data infrastructures in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific.

United Airlines Holdings

Market Cap: R$26.3b

Through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America.

Multiplan Empreendimentos Imobiliários

Market Cap: R$11.2b

Multiplan Empreendimentos Imobiliários S.A.

Cshg Logistica - Fundo De Investimento Imobiliario

Market Cap: R$5.1b

Specializes in real estate investments.

Alphabet

Market Cap: R$2.1t

Offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America.

Roku

Market Cap: R$11.9b

Operates a TV streaming platform in the United states and internationally.

Zillow Group

Market Cap: R$11.2b

Operates real estate brands in mobile applications and Websites in the United States.

Trimble

Market Cap: R$14.9b

Provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide.

Silicon Laboratories

Market Cap: R$3.5b

A fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, Taiwan, and internationally.

Globe Life

Market Cap: R$10.6b

Through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States.

BorgWarner

Market Cap: R$6.3b

Provides solutions for combustion, hybrid, and electric vehicles worldwide.

Gaming and Leisure Properties

Market Cap: R$14.5b

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.

Banco do Estado do Rio Grande do Sul

Market Cap: R$4.7b

A multiple-service bank, provides a range of banking products and services primarily in Brazil.

Uber Technologies

Market Cap: R$159.8b

Develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific.

Honda Motor

Market Cap: R$6.6t

Develops, manufactures, and distributes motorcycles, automobiles, power, and other products in Japan, North America, Europe, Asia, and internationally.

DocuSign

Market Cap: R$18.0b

Provides electronic signature solution in the United States and internationally.

Equatorial

Market Cap: R$40.6b

Through its subsidiaries, engages in the electricity generation, distribution, and transmission operations in Brazil.

Coca-Cola FEMSA. de

Market Cap: R$18.5b

A franchise bottler, produces, markets, sells, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Brazil, Argentina, and Uruguay.

Ultragenyx Pharmaceutical

Market Cap: R$3.6b

A biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Europe, the Middle East, Africa, and the Asia-Pacific.

GeoPark

Market Cap: R$396.7m

Operates as an oil and natural gas exploration and production company primarily in Chile, Colombia, Brazil, Argentina, Ecuador, and other Latin American countries.

New Oriental Education & Technology Group

Market Cap: R$7.8b

New Oriental Education & Technology Group Inc.

Omega Healthcare Investors

Market Cap: R$11.0b

A Real Estate Investment Trust (“REIT”) providing financing and capital to the long-term healthcare industry with a particular focus on skilled nursing facilities located in the United States and the United Kingdom.

BlackLine

Market Cap: R$3.2b

Provides cloud-based solutions to automate and streamline accounting and finance operations in the United States and internationally.

Três Tentos Agroindustrial S/A

Market Cap: R$7.0b

Operates in the agribusiness sector in Brazil.

Klabin

Market Cap: R$23.7b

Produces and exports packaging paper and sustainable paper packaging solutions in Brazil and internationally.

Advance Auto Parts

Market Cap: R$2.3b

Engages in the provision of automotive aftermarket parts in the United States and internationally.

Armac Locação Logística e Serviços

Market Cap: R$1.7b

Engages in leasing machines, equipment, and services in Brazil.

CPFL Energia

Market Cap: R$44.2b

Engages in the generation, transmission, distribution, and commercialization of electricity to residential, industrial, and commercial customers in Brazil.

Azzas 2154

Market Cap: R$4.9b

Designs, develops, manufactures, markets, and sells shoes, handbags, clothing, and accessories for women and men.

PACCAR

Market Cap: R$51.8b

Designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally.

Mohawk Industries

Market Cap: R$7.3b

Designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally.

Americold Realty Trust

Market Cap: R$6.1b

Americold is a global leader in temperature-controlled logistics real estate and value added services.

Kilroy Realty

Market Cap: R$4.2b

Kilroy Realty Corporation (NYSE: KRC, the “Company”, “Kilroy”) is a leading U.S.