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Annual Report 2026

Page 1

ANNUAL

Report

years


Dedication To the more than one thousand Fellows in our community, to our Prep Program students, donors, and partners, and to everyone who is or has ever been part of the Fundação Estudar team. To our founders, who were the first to believe. Celebrating 35 years means celebrating you!


Contents Welcome Message 06 A story written by many hands

26 Fundação Estudar’s

Lucas Mendes de Freitas Teixeira

Prep Program

08 Our Podcast

CEO of Fundação Estudar and 2014 Estudar Fellow

34 Financial

Sustainability

35 years of Fundação Estudar

36 Our Donors and

Thirty-five years ago, Jorge Paulo Lemann, Marcel Telles and Beto Sicupira committed to a single idea: nothing is more important to a country than talented people having access to opportunity. People who dream big, have courage, and work hard to make Brazil more than it is today. That is how Fundação Estudar was born.

42 Governance and Team

From our very first scholar to reaching the milestone of more than 1,000 Estudar Fellows in 2026, it is our network that gives meaning to who we are. These are stories that intersect, intertwine, and, together, drive Brazil one step forward.

10 Estudar Fellows Community

Partners

14 2026 Líderes

Estudar Scholarship Program

04

These journeys are the very story of Fundação Estudar. Over the past year, more than 200 Fellows took part in selecting the new cohort, and a record number of Fellows donated so that others could have the same opportunity, reinforcing our value of giving back. Our chapters - our embassies in major cities around the world - continue to be led by the network itself, while the Annual Gathering was designed to recapture its original spirit as a place where community

comes together and grows stronger, much like Fundação Estudar’s first breakfasts in the 1990s. The compass pointing toward the future remains the same as in 1991: discovering and empowering talent. In particular, the hidden talent--the people who have never heard of Fundação Estudar. Once they join our network, we want to connect Fellows with the world’s best opportunities, with a more intentional focus on Asia and on building connections with global initiatives aligned with our goals. We will also continue expanding into sectors where Brazil can be even more relevant, as we did with the launch of Climate Fellows. We are deeply proud of the legacy we have built so far. But as a country, we know Brazil is still falling short of its potential--and that we need more from each and every one of you to move Brazil, together, to the place it deserves on the global stage. That is why, over the next 35 years, we will continue working to create opportunities for talented people to act big and keep transforming our nation.

05


A Story Written by Many Hands

Fundação Estudar began in 1991, with selection interviews conducted by the founders, Jorge Paulo, Marcel, and Beto. From the very first coffee chats, sitting on the living room floor, to the milestone of more than 1,000 Fellows, what has always given this story meaning is our community.

1994 Newspaper.

30-year Annual Gathering in 2021.

2001 Newspaper.

Breakfast with Paulo Basílio, then president of ALL Logística, in the 2010s.

News about the Brasiliana Collection of Fundação Estudar at Pinacoteca Museum in 2007

Pedro Moreira Salles, board members, Fellows, and partners in 2004.

Fundação Estudar website in 2005.

06

Fellows together at the 2010 Annual Gathering.

PUC-Rio student newspaper covering the selection of Estudar Fellows, 1991.

Founding trio at an Annual Gathering in the 2000s.

Founding trio at the 2025 Annual Gathering.

07


Our Podcast

A story written by many hands must be told by many voices.

Celebrating our 35th anniversary Featured in the first season

Fellows from different generations come together to revisit our shared history and their own stories, revealing what has changed and what has endured over the years.

Carlos Brito

Henrique Duarte

Bernardo Hees

Janaina Hees

Fellow 2024 MBA Columbia University

Fellow 1992 Economics PUC-Rio

Fellow 1999 Exchange Program – Coppead University of San Diego

Claudio Andrade

Ana Paula Porto

Lissa Collins Fossen

Eric Ribeiro

Fellow 1993 Business Administration FGV-SP

Fellow 2025 MBA University of Chicago

Fellow 1992 Business Administration PUC-Rio

Fellow 2025 Aerospace Engineering and Physics University of Notre Dame

2011

2012

2015

2020

2024

2026

Launch of Laboratório Estudar and the web portals Estudar Fora and Na Prática.

Launch of the book “Cultura de Excelência” (Culture of Excellence).

Creation of the Tech Fellow track within the Líderes Estudar Program.

Spinoff of Na Prática to the BTG Pactual philanthropy, allowing Fundação Estudar to remain focused on what has always been at its core: our community.

Creation of the Climate Fellow track within the Líderes Estudar Program.

Fellow 1991 MBA Stanford University

Jean Pereira Fellow 2025 Public Policy Northwestern University

Marília Rocca

Maria Luiza Seixas

Fellow 1994 Business Administration FGV-EAESP

Fellow 2023 Research Trainee Harvard University

He asked me to promise that, if I ever had the chance to help someone the way he was helping me, I would. And I did. Carlos Brito our first Fellow his conversation with Jorge Paulo Lemann in 1991.

Listen to the full conversations here:

Marcelo Barbosa

Fellow 1996 LL.M. Columbia University

Priscila Hirschheimer Fellow 2025 LL.M. Harvard University

Veronica Serra

Fellow 1995 MBA Harvard University

Vitória Nunes

Fellow 2024 Electrical Engineering Yale University

35 YEARS IN MILESTONES

08

Before 1991

1991

1993–1996

Undergraduate and graduate scholarships in Business Administration and Economics are awarded at Banco Garantia by Beto Sicupira, Jorge Paulo Lemann, and Marcel Telles.

Fundação Estudar is founded with the goal of institutionalizing the Scholarship Program.

Fundação Estudar relocates from Banco Garantia (Rio de Janeiro) to São Paulo. The Scholarship Program’s selection process becomes more rigorous, adding new stages.

1999 The Scholarship Program selection process expands nationwide.

2000

2006

2007

2008

The Mentorship Program is created, connecting senior Fellows with student Fellows through gatherings throughout the year.

The first Fellow joins the Board.

The donation of approximately 500 artworks comprising Fundação Estudar’s Brasiliana Collection to Pinacoteca Museum in São Paulo.

Creation of the Endowment Fund and the organization’s new fundraising structure.

Fundação Estudar redefines its mission, vision, and values, adopting the motto “to create opportunities for good people to act big and transform Brazil.” The Prep Program, created by Álvaro Piquet, Joaquim Ribeiro, Samuel Elia, Thiago Picolo, and Wolff Klabin, becomes part of Fundação Estudar.

We surpassed the milestone of over a thousand Estudar Fellows in the community.

09


1991 to 2026 (Cumulative total of Fellows each year)

Estudar Fellows Community Overview

2013

2020

First Medicine Fellow

Tech Fellow launch

1,007 Fellows

2008

Over 35 years, we have brought together and empowered more than 1,000 Estudar Fellows across different generations, career stages, and fields of study.

729 Fellows

First PhD outside of Economics

2002 First Fellows in Public Policy and International Relations

2026

533 Fellows

Climate Fellow launch

371 Fellows

46%

1007

39.5%

Estudar Fellows

36

years anos old

Senior professionals

2026

1991

Early Career

Over the years, the community has grown and diversified

14.5%

Average Age

1991 to 1994 (8 fields of study)

Students

The community’s academic journey spans more than 150 leading institutions in Brazil and worldwide:

26% 74%

Are currently pursuing or have completed higher education in Brazil. Are currently pursuing or have completed higher education abroad.

Leading institutions where our fellows have studied: Harvard University

Stanford University

of Technology (MIT)

University of Pennsylvania

Instituto Tecnológico de Aeronáutica (ITA) University of Chicago

10

234 Fellows

Massachusetts Institute Columbia University

Universidade de São Paulo (USP)

Fundação Getulio Vargas (FGV)

Yale

MBA

Environmental Sciences

Business Administration and Management

Engineering

Economics

Data Processing

Law

Computer Science / Computer Engineering

2026 (20 fields of study) Computational Biology and Cognitive Sciences

Chemical and Biological Engineering

Molecular and Cellular Biology

Statistics

Computer Science

Geography and Environment

Molecular Sciences

Government and Economics

Political Science and Psychology

Mathematics

Conservation Leadership

MBA

Law

Medicine

Environmental Engineering

Neuroscience

Computer Engineering

Politics, Economics, and Sociology

Mechanical Engineering

International Relations

Yet the essence remains the same: creating opportunities for talented people to act big and transform Brazil.

11


Impact of Estudar Fellows

Our community drives impact across multiple industries: building businesses, holding leadership positions across the private and public sectors, working in the nonprofit space, and advancing research.

Companies Where Fellows Hold Leadership Positions

Businesses Founded Climate, Energy, and Natural Resources

Consumer, Retail, and Platforms

Education and Talent

Finance and Investments

Real Estate

Nonprofit Organizations and Research Centers Where Fellows Make an Impact

Social Impact and Public Management

Health and Biotechnology

Government and Public Sector Bodies Where Fellows Work São Paulo State Legislative Assembly

National Data Protection Authority (ANPD)

Brazilian Development Bank (BNDES)

National Congress

General (CGU)

Technology, Software, and AI

Desenvolve SP

Inter-American Development Bank

International Trade Centre

Ministry of Education

Public Prosecutor’s Office

Recife City Hall

of Education

Office of the Comptroller

Ministry of Planning and Budget

Rio de Janeiro City Hall

São Paulo State Secretariat

Goiás State Secretariat of Science, Technology, and Innovation

Minas Gerais State Secretariat of Planning and Management UK – Department for Science, Innovation and Technology

12

International Monetary Fund

Federal Senate

World Bank.

13


2026 Líderes Estudar Scholarship Program

We extend our gratitude to all 2026 Ambassadors — both the alumni who have graduated and the students currently at university. You played an essential role in helping us find talented candidates.

Results from Our Selection Process Fundação Estudar was born from a single scholarship awarded in 1991. Since then, we have reached over 1,000 Estudar Fellows through a selection process that continually adapts to the most strategic fields for Brazil. In 2020, we launched the Tech Fellow track, which has already surpassed 100 Fellows.

This year, we launched a new track:

Climate Fellow.

Dedicated to people who are developing, or aspire to develop, solutions to environmental and climate challenges - areas essential to Brazil’s present and future - the new track attracted 1,000 applicants.

Alumni Ambassadors Amaury Martins Takaki Clara Carvalho e Silva Fabricio Neri Lima

Ana Paula Martinez Dércio Santiago

Felipe Amaral de Mattos

Hana Gabriela Albuquerque Sousa

Seixas

Marília Artimonte Rocca

Gabriela Frajtag

Paulo Henrique dos Santos Silva

Ruth Di Rada

Greice Ellen Santos Maria Luiza

Naira Sathiyo Ferreira Silva

Paulo Victor da Conceição Monteiro

Rodrigo Vilardo Vella

Samuel Corrêa Lima Costa Carvalho

Stela Luz Andreatta Herschmann

Fabio Santos

João Gabriel Gomes Alkmim

Mateus Souza Borges

Pedro Henrique de Sousa Lopes

Bianca Freire

Diego Alves Rodrigues de Souza

Tavares

Patricia Giusti

André Moura

Roger Friedrich Werner Koeppl

Sofhia De Souza Gonçalves

Wellington Trindade Vitorino

Yan Tadeu Kaled

Yasmin Kaline de Carvalho Silva.

Student Ambassadors André Victor Oliveira Avellar

We saw a significant increase in applications across major universities:

Santos Marinho

Bernardo Alexandre Alves Rodrigues

Bismarck Moreira Ramos de Vasconcelos Filho Caio Vinícius Menezes Ferreira Eric Souza Costa Ribeiro

Applications: 2025 vs. 2026 Stanford:

25

44

Oxford:

23

32

Harvard:

67

90

PUC-RJ:* UFPB:**

14

3 47

78 69

Reaching so many talented people from every region of Brazil was made possible by the support of our community:

200 40 80

Estudar Fellows serving as ambassadors.

Arthur Kui

Caio Martins Temponi Do Valle

Christopher Loureiro Kapáz

Evaristo Campos de Abreu Ribeiro Frankley Kaiky Maia Silva

Gabriel Mazili Pedroza

Gabriel Ronatty Tavares Santos

Emilly Raiane Rodrigues Felipe Adeildo da Silva

Gabriel Fernandes Mello Ferreira Gabriela Santos Mendanha

Giovanna Maria Monteiro Longo

Guilherme Jácome Cavalcante

de Oliveira

João Gabriel Pepato de Oliveira

Henrico Bueno Hirata

Kido Carvalho

João Pedro Costa Cruz

Pinaso

Luca Dantas de Britto Monte Araújo

Salles

Maria Isabel Barros Guinle

Matheus Alves Silva

Moreno Ribeiro

Raphael Alves Hailer

de Albuquerque

Rodrigo Salgado Domingos Porto

Juan Julio Nascimento Julio de Oliveira

Lara Eduardo Campos

Lucas Monteiro Rivelli

Murilo Pedroso

João Guilherme

Juliano Dantas Portela

Kesney Lucas Ferro de Oliveira

Micaela Melissa Simplicio Silva

Gustavo Zotin Gomes

João Pedro Ferreira Barbosa

Júlia Carolina Guedes Carvalho

Caggiano Buonomo

Bárbara da Câmara

Bianca Gajardoni Bearare

Felipe Rebello Silvestri

de Andrade Teles Estudar Fellows, donors, and partners participating in candidate evaluation.

Events held at educational institutions to present Fundação Estudar.

*Pontifical Catholic University of Rio de Janeiro. ** Federal University of Paraíba.

Andriele Joras dos Santos

Lívia Luiza

Luísa Manoela Romão

Matheus Ferracciú Scatolin

Narayane Ribeiro Medeiros

Raphael Ribeiro Mantovani

Rafael

Renato Zamboni

Rômulo Henrique Nascimento Duarte

Samyra Vitória Lima de Almeida

Sol Bruna Kac Diamand

Tiago Victor Ramos dos Santos

Valter Manuel Gomes Neto

Thomas Frank Dresbach Filshill Victor Zanetti Strutz.

15


Estudar Fellows 2026

Breakdown by Academic Level:

59%

Meet the New Cohort

Undergraduate

34% 7%

In 2026, we selected 46 Estudar Fellows, representing just 0.3% of all applicants in the selection process. This year marks the arrival of our first Climate Fellows, a new track dedicated to talent addressing environmental and climate issues, joining our Tech Fellows and Líderes Estudar. We are grateful for our partnership with Behring Founders (from Behring Foundation), focused on Entrepreneurs, and with the Brazilian Olympic Committee, Rede Tênis, and other partners, focused on Athletes.

Graduate Studies Abroad Academic Exchange / Dual Degree

The cohort represents 25 universities across Brazil, the United States, the United Kingdom, Germany, and China:

1 student

2 students

2 students

1 student

2 students

2026 Fellows by Track

29

Líderes Estudar

11

Tech Fellows

6

Climate Fellows 7 students

1 student

1 student

2 students

1 student

All part of the same community!

The new cohort spans Brazil from North to South

1 student

3 students

1 student

16

1 student

1 student

1 student

4 students

3 students

3 students

1 student

1 student

1 student

1 student

1 student

1 student

17


2026 Estudar Fellows Undergraduate

Tech Fellow

Estudar Fellow

ADA JAMILE GOMES DE OLIVEIRA

ANA BEATRIZ ARAÚJO SANTA CRUZ GOYANNA

Amazonas COLUMBIA UNIVERSITY Computational Biology and Cognitive Sciences

The first student from Amazonas awarded at ISEF, Ada is also the most decorated science fair competitor across the Brazilian Military School System, with pioneering cellular research on Alzheimer’s disease. At age 15, she developed an algorithm registered with Brazil’s National Institute of Industrial Property (INPI) for protein-compound screening, which UCSD adopted as a technical foundation for a projected expected to support future NASA/ISS missions.

Tech Fellow

ANA JULIA SANTOS LOPES

Rio Grande do Norte BOWDOIN COLLEGE Interdisciplinary Computer Science and Mathematics

The first high school student published in The Harvard Review of Latin America, Ana Beatriz is passionate about the human brain, which drove her toward scientific inquiry. By translating evidence into actionable proposals across mental health, innovation, and education, she authored 31 bills currently under consideration in Brazil’s National Congress and served as an advisor to the Health Committee.

Tech Fellow

ANA VITÓRIA ABREU MURAD

Minas Gerais USP / RWTH Aachen Computer Engineering

CAIO JAHN

Rio Grande do Sul GEORGIA INSTITUTE OF TECHNOLOGY Computer Engineering

Climate Fellow ing Behr

ders Foun

Bridging rigorous learning and execution, Caio charted his path from Porto Alegre to Georgia Tech, one of the world’s leading technology universities, on a full undergraduate scholarship in partnership with the Behring Foundation. A science olympiad medalist with a 9.7 out of 10 grade average, he is dedicated to startups and to building an AI platform for the legal sector.

Tech Fellow

ENDREW RYAN DE OLIVEIRA BORTOLI

São Paulo VANDERBILT UNIVERSITY Computer Science

CAROLINA SISNANDO

Pará TSINGHUA UNIVERSITY Politics, Economics, and Sociology for Global Leaders in an Intelligent Society Having spent her life connecting the Amazon to the world, Carolina now aims to connect Brazil and China. As one of the pioneering Brazilian undergraduates at Tsinghua, she works to expand the university’s visibility among Brazilian students. One of her major achievements was publishing analyses on the Global South in the newspaper O Fluxo, reaching more than 50,000 views on social media.

Tech Fellow

FELIPE DUARTE ARCELA

Paraíba UNIVERSIDADE FEDERAL DA PARAÍBA Computer Science

Guided by the conviction that a meaningful life transforms the daily lives of those around us, Felipe carries this purpose into every achievement. He founded Trilha, a mentorship program for technology courses at UFPB. He also led the development of a voice agent for Tako’s recruitment product, which has interviewed more than 500 candidates for some of Brazil’s largest companies.

At age 16, Ana Julia became the first high school student at the Nicolelis Institute to develop brain-machine interfaces for more than 25 patients. Four years later, her research was applied in Egypt to aid in the rehabilitation of stroke patients. Resilience defines her path, which was shaped by overcoming severe financial hardships that nearly forced her to discontinue her studies.

Former president of PoliBits, Poli-USP’s competitive programming and algorithm group, Ana Vitoria led 10 teams across two editions of the SBC Programming Marathon, placing squads among the top three in São Paulo. After identifying key vulnerabilities in medical simulations, she spearheaded an optimization project adopted across all software at the company where she worked.

A first-generation college student, Endrew taught himself to program at age 14 and founded a software venture at 18. He captained his robotics team to award-winning finishes at the FRC World Championship and earned 12 medals across academic olympiads and tournaments. He has also created STEM initiatives, including sponsored legislation, that together have reached over 30,000 students.

Estudar Fellow

Estudar Fellow

Tech Fellow

Estudar Fellow

FELIPE MAKOTO SHIMAMURA SILVA

GABRIEL MARTINI DUTRA SOARES SANTOS

BEATRIZ ABRAM

São Paulo HARVARD UNIVERSITY Computational Neuroscience

One of Beatriz’s proudest accomplishments was co-leading the inaugural edition of Brasil Project before even starting college. Known for turning complex ideas into action, she secured sponsorships and managed a 13-person team and 60 volunteers. She also led a team of five analysts that presented investment opportunities in more than 90 startups.

18

Distrito Federal HARVARD UNIVERSITY Neuroscience and Government

Estudar Fellow

BEATRIZ MORAES

São Paulo UNIVERSITY OF PENNSYLVANIA Political Science and Psychology

Beatriz has anchored her work at the intersection of public policy, education, and gender inequality. Serving as a youth city councilor and Council President, she drafted 40 legislative proposals and catalyzed the municipal chamber’s first formal debate on sex education. Her research on unpaid labor in Brazil won an academic prize and was published in the Harvard International Review.

São Paulo MASSACHUSETTS INSTITUTE OF TECHNOLOGY Bachelor of Science

Since Brazil’s debut at the International Mathematical Olympiad in 1979, the country has earned just 15 gold medals — and Felipe secured one of them. He is also proud to have helped organize the inaugural Brasil Project, which brought together over 500 participants and hosted high-profile keynote speakers such as Jorge Paulo Lemann and Luana Lopes Lara.

São Paulo UNIVERSIDADE DE SÃO PAULO Law

An accomplished academic medalist, 1st-place finisher at IMPA Tech 2024, and contributor to collaborative projects with Harvard and MIT, Gabriel never let limited resources constrain his trajectory. At age 15, he designed an application to teach mathematics to neurodivergent learners. Today, he aspires to serve as a Justice on Brazil’s Supreme Federal Court (STF), championing the intersection of technology and the judicial system.

19


2026 Estudar Fellows Undergraduate

Estudar Fellow

GABRIELA GOES DA CUNHA

São Paulo PRINCETON UNIVERSITY Chemical and Biological Engineering

Tech Fellow

GABRIELA MAGALHÃES MACEDO

JOSÉ ISAÍAS MENEZES SANTOS

Rio de Janeiro UNIVERSIDADE FEDERAL DO ESTADO DO RIO DE JANEIRO Medicine

Sergipe INTELI Computer Engineering

Tech Fellow

JULIA SOARES

São Paulo UNIVERSIDADE ESTADUAL DE CAMPINAS Statistics

Named one of Brazil’s top 20 female chess players at age 15, she learned how to plan long-term goals by pairing opportunity, intuition, adaptability, and logic. Gabriela takes pride in prioritizing novel therapeutics and molecular targets for gutbrain axis disorders, and represented Brazil at ISEF, the world’s largest international pre-college science competition.

Driven by a clear sense of purpose and destination, Gabriela discovered and described a previously undocumented anatomical structure, awarded Best Project at UNIRIO in 2025 and accepted for presentation at the 2026 Brazilian Congress of Neurosurgery. She conducts neuroimmunology research at Harvard Medical School, where her performance and lab excellence earned her an invitation to extend her fellowship.

Dedicated to fostering innovation and social impact, José co-founded EducFácil, a platform where young people earn money by studying through games, making his team national champions in SEBRAE’s Youth Entrepreneurship Challenge. One of his major accomplishments was creating CNCraft3D, a digital fabrication startup that secured six-figure funding from the federal government.

Julia developed machine learning models for malaria diagnosis in low-resource settings, a breakthrough currently undergoing the publication process in Nature. Among her proudest achievements was leading the fundraising and organization of the Women’s Competitive Programming Marathon, scaling a local initiative into Latin America’s largest event in the field.

Tech Fellow

Estudar Fellow

Estudar Fellow

Estudar Fellow

GUSTAVO HIDEKI NAKASIMA FERRANTE

LUIS EDUARDO FERRAZ FERRAIUOLI DE AZEVEDO

GUILHERME AVILA

Rio de Janeiro HARVARD UNIVERSITY / PUC-RJ Computer Engineering

São Paulo TECHNICAL UNIVERSITY OF MUNICH / USP Mechanical Engineering

Rio de Janeiro CORNELL UNIVERSITY Economics

MANUELA MIRANDA BUESA

São Paulo UNIVERSITY OF PENNSYLVANIA Economics

Co-founder of an AI EdTech venture where he served as sole technical co-founder, Guilherme built the end-to-end product engineering serving over 6,000 users and processing more than 190,000 solved questions. Straight from high school, he scored in the top 0.005% of Brazil’s ENEM exam while coordinating Rio school blood-donation drives with NGO Hemocione since 2022. At 21, he created his own position at a venture capital fund overseeing pre-seed rounds for Brazil’s leading AI startups, a domain where he plans to build again.

Perseverance defines his journey. At Poli-USP, Gustavo maintained a top-11 class standing while actively competing on the university’s Formula SAE racecar engineering team. Pushing through tight deadlines, broken prototypes, and team governance challenges, he earned a spot in the dual-degree program at TUM, while his leadership helped his racing team climb 10 spots in the national rankings.

Luis entered the mining industry, one of Brazil’s most traditional sectors, at an early age. With a thesis on rare earth vertical integration, he won Best Business Case at the Brazilian Economics Olympiad and presented his proposals alongside the president of IBRAM (Brazilian Mining Institute) at the National Rare Earths Seminar. At age 16, he experienced his first immersion in capital markets during Bravo Mining’s IPO on the TSX-V, an experience that cemented his dedication to the intersection of mining and finance.

Manuela represented Brazil at the International Economics Olympiad, earning a bronze medal and subsequently becoming the first alumna to direct Team Brazil’s training program. She co-founded Extracurriculando, an NGO where she applied corporate business practices to philanthropy, scaling its reach to 82,000 people across 11 countries. She also completed two private equity and alternative investment internships before she even started college.

Estudar Fellow

Climate Fellow

Estudar Fellow

Estudar Fellow

ISAQUE CARVALHO BORGES

MARCOS PAULO GONÇALVES SANTOS

MARIA CLARA SOUZA ROCHA

IDERLAN VALE FERREIRA

Maranhão DUKE UNIVERSITY Economics and Psychology Applied to Education

20

Estudar Fellow

Coming from a rural community in Maranhão, Iderlan became the first person across all direct generations of his family to finish high school. Among his signature initiatives was launching the Pitagóricos and Nortear programs, creating opportunities for low-income and neurodivergent students in partnership with the Legislative Assembly of Ceará (AleCE) and the State Government of Maranhão.

Tocantins RICE UNIVERSITY Environmental Engineering

Isaque has consistently taken on major personal and professional responsibilities. He founded the NGO EcoAção Brasil, where he led researchers from seven countries, and became the first Latin American to win The Earth Prize. He also designed an urban-sustainability AI platform from start to finish using satellite data, securing US$12,500 in funding.

Minas Gerais UNIVERSIDADE DE SÃO PAULO Medicine

Much like his violin playing, Marcos Paulo seeks to bring out the best in those who listen, bringing educational workshops to public schools and community events across northern Minas Gerais. He became the region’s first-ever international academic medalist, driven by the conviction that opportunity reshapes lives. He co-founded Sapiens, creating an olympiad-entry admissions channel at Unimontes that has provided over 1,000 young people with educational paths he never had himself.

Ceará HARVARD UNIVERSITY Government and Economics

Guided since childhood by the motto “always strive to be better,” Maria Clara pursues excellence across every endeavor. She was one of only 15 students selected from Harvard’s entire Class of 2029 for the inaugural cohort of Laidlaw Scholars, one of the world’s most selective leadership and research programs. She is currently founding Harvard’s first Political Science Association, developing mentorship networks and a lasting framework for students in the department.

21


2026 Estudar Fellows Undergraduate

Estudar Fellow

Estudar Fellow

MATHEUS NUCCI MASCARENHAS

MATHEUS RAMOS DE OLIVEIRA QUEIROZ

São Paulo YALE UNIVERSITY Economics & Global Affairs

Driven by dedication and rigor, Matheus earned admissions to Yale, placed 2nd in Law at USP, 1st at UNICAMP, and 3rd in Economics at FGV, alongside gold medals in Brazil’s ONC and OBA olympiads. A crowning milestone was directing the Yale Model United Nations simulation in Brazil, managing a 60-person staff and a R$ 1.4 million budget for the country’s largest conference of its kind, welcoming 900 delegates.

Tech Fellow

MIGUEL MOCHIZUKI SILVA

Paraíba UNIVERSIDADE FEDERAL DA PARAÍBA Computer Science

Miguel has always been guided by a drive to master knowledge and generate tangible impact through education. His proudest milestone was conducting funded undergraduate-level mathematics research (PIBIC) while still in high school, which earned him UFPB’s Young Researcher Award in 2023. During an internship at Hospital Albert Einstein, he built a computer vision algorithm for tracking surgical sponges that outperformed the state-of-the-art BotSORT and ByteTrack architectures by 10%.

Estudar Fellow

PALOMA DIERINGS CÔRTES

Mato Grosso HARVARD UNIVERSITY Molecular and Cellular Biology

22

Graduate Studies Abroad

Paloma drew strength from her home state of Mato Grosso to push boundaries and inspire others to dream big. She created ImpactoBIO, bringing water and sanitation infrastructure to traditional communities and converting lab research into field deployments, earning a Top 10 global distinction at Pitch for the Future. She also founded IberCup, a startup combating counterfeit alcoholic beverages, securing regional venture awards and R$ 86,000 from Centelha MT.

Rio de Janeiro UNIVERSIDADE DE SÃO PAULO Molecular Sciences

Estudar Fellow

ADRIANA PARNES

São Paulo STANFORD UNIVERSITY Masters in Business Administration

Estudar Fellow

ANA CLARA MELLO COSTA AKRA

Rio de Janeiro UNIVERSITY OF PENNSYLVANIA MBA and Masters in International Studies

Over four years, Matheus built and directed an educational preparatory system from scratch, enabling dozens of students from upstate Rio de Janeiro to gain university admissions. That success funded his move to São Paulo and his entry into USP’s most selective interdisciplinary honors program, where he organized cross-institutional research between USP, UNIFESP, and CNPEM to engineer a novel treatment targeting the world’s deadliest brain cancer.

Driven by a vision to connect unconventional leaders and ideas, Adriana built a standout track record during her years at FGV: class valedictorian (1st place), honor roll, student council representative, junior enterprise leader, and winner of both the Entrepreneurship Fair and the J&J Marketing Award. She left Ambev to embrace entrepreneurship, building ventures from the ground up and taking bold risks to forge her own path.

Ana is guided by the conviction that technology only matters when it solves problems at scale. This principle took her from the outskirts of Rio de Janeiro to Wharton’s MBA, via Colégio Militar, an Engineering degree at UFRJ, product roles at Nubank, and leadership in building Isaac’s revenue-guarantee product, helping scale the company to more than 3,000 clients and more than R$7 billion in tuition payments.

Tech Fellow

Climate Fellow

Climate Fellow

NICHOLAS RODRIGUES

Paraíba UNIVERSIDADE FEDERAL DA PARAÍBA Computer Science

Driven by deep self-conviction, Nicholas consistently turns the supposedly impossible into reality. He attended Stanford on a full scholarship, won Best Project in a competitive course cohort of over 300 students, and scored in the highest percentile in one of the department’s most challenging classes. At 11x, he architected a multimodal AI product from the ground up, now established as one of the enterprise’s three core offerings.

CLÁUDIA COLEONI

São Paulo UNIVERSITY OF OXFORD DPhil in Geography and the Environment

EDUARDO VARELLA AVILA

Rio de Janeiro COLUMBIA UNIVERSITY Master of Public Administration in Development Practice

One of Cláudia’s primary achievements was serving as a project lead on Acre’s first strategic water resources plan, expanding its scope from a bilateral initiative to a trinational framework connecting Brazil, Bolivia, and Peru, with the potential to impact 160,000 people. Connecting rigorous theory to boots-on-theground practice, she took the road less traveled to live and work across the Amazon basin beyond Brazil’s borders, broadening regional perspectives.

Pivoting away from finance, Eduardo founded Revolusolar, Brazil’s first solar cooperative based in a favela community, recognized globally by the United Nations. Under his leadership, the organization grew from an annual operating budget of US$40,000 to US$2 million, expanding its service footprint from two to 15 communities. His UFRJ thesis on solar energy and behavioral economics was published in a peer-reviewed journal and has exceeded 1,200 downloads.

Estudar Fellow

Climate Fellow

ELIAS BARBOSA

Pernambuco UNIVERSITY OF CHICAGO PhD in Chemistry

Elias career is defined by driving breakthroughs in regenerative therapies, climate health, and intergenerational scientific leadership in Brazil. Among his key breakthroughs was developing an anti-aging project that secured a Harvardassigned patent, in addition to being honored as a Global Emerging Talent by the Falling Walls Foundation.

ELIS VALERIA ANGINSKI COTOSKY

Paraná STANFORD UNIVERSITY MBA / Master of Science in Environment and Resources

Elis committed herself to climate solutions long before ESG became mainstream: she founded FEA ESG, created USP’s inaugural ESG elective course, and built an alumni community of over 100 students, placing more than 10 directly into industry roles. At The Nature Conservancy, she helped pass traceability legislation covering 26 million head of cattle in the state of Pará, while securing US$10 million in capital to support indigenous peoples and traditional communities.

23


2026 Estudar Fellows Graduate Studies Abroad

Estudar Fellow

FERNANDA KIPPER BUCOSKI DE SOUSA

ing Behr

ders Foun

Rio Grande do Sul MBA CANDIDATE

Estudar Fellow

Estudar Fellow

GISELLE FERNANDA CORUJAS DE BARROS

LUCAS LEAL GAIO DE ARAUJO

MARCELO DEMOLINER

São Paulo STANFORD UNIVERSITY LL.M.

Bahia STANFORD UNIVERSITY MBA

Rio Grande do Sul OLYMPIC ATHLETE Professional Tennis Player

Discipline is the driving thread of her journey. Fernanda secured 1st place in the entrance exam for Computer Science at UFPel, the culmination of months of dedicated study. Later, she built a YouTube channel that, over four years, has provided free education to more than 200,000 computer science students across Brazil. She also earned Microsoft’s Most Valuable Professional distinction in 2025 in recognition of this impact, and today is part of Behring Founders.

From public school to Stanford, she turned every opportunity into a lasting commitment. Giselle’s path includes scholarships from ISMART and ProUni, legal-inclusion initiatives through Civics Educação, and, while still a junior lawyer with no prior experience, participation in a US$2.6 billion arbitration. In recognition of these achievements, she was selected as a Person of the Year Fellow by the Brazilian-American Chamber of Commerce in New York (BACC-NY). Looking ahead, she aspires to become an internationally recognized arbitrator.

Lucas multiplied every opportunity he received: at 17, he earned a full scholarship to Insper, graduated as the most engaged student in the institution’s history, and founded Instituto Four with zero seed capital, an NGO that grew fully self-sustaining under his leadership. Today, he applies this same vision as an executive leader at Tom Educação, a network operating 36 public schools in Paraná serving 20,000 students.

Relying on sheer resilience to pursue and achieve excellence in tennis, he reaped significant rewards: Marcelo is a Pan American Games champion, an Olympian, and holds five ATP Tour (Association of Tennis Professionals) titles at the highest level of men’s doubles. In addition, he earned a Bachelor’s degree in Marketing, successfully balancing higher education with his career as a tour professional.

Estudar Fellow

Climate Fellow

Estudar Fellow

Estudar Fellow

GUILHERME MAZZAFERRO

São Paulo HARVARD UNIVERSITY MBA

GUSTAVO DE CARVALHO FIGUEIROA São Paulo UNIVERSITY OF CAMBRIDGE MPhil in Conservation Leadership

NICOLE GROSSMANN

São Paulo GEORGIA INSTITUTE OF TECHNOLOGY M.S. in Computer Science (Machine Learning)

ing Behr

Gustavo turns knowledge into action by bridging worlds that rarely intersect: science and the public, fieldwork and public policy. Among his greatest milestones was directing communications for SOS Pantanal during the 2020 wildfires, a campaign that established the NGO as a national benchmark and funded the Brigadas Pantaneiras (Pantanal Brigades), the organization’s first major structural initiative.

From Brazil to Columbia University, Nicole graduated with honors in Applied Mathematics and Economics, defending a thesis on neurodegenerative diseases. She was part of the founding team at Enter, Latin America’s first AI unicorn backed by Sequoia and Founders Fund. Today, she is pursuing a Master’s in Computer Science at Georgia Tech, specializing in Machine Learning.

Estudar Fellow

Estudar Fellow

Estudar Fellow

Rio de Janeiro JOHNS HOPKINS UNIVERSITY Masters of Arts in International Relations

José navigates the daily dichotomy between the outskirts of Rio and high-level policy dialogues with ambassadors, C-suite executives, and former government ministers. By age 24, he had authored 20 publications, including for T20 South Africa, reaching over 60,000 readers across the military, government, private sector, and academia. Within a single year, he rose to analyst at CEBRI, a premier Brazilian think tank, working on initiatives for the European Union, UNEP, and Brazil’s National Rare Earths Plan.

LUCA MORENO LOUZADA

São Paulo HARVARD UNIVERSITY Business Economics

Driven by a desire to test the limits of his academic and public impact, Luca ranked 1st in his Economics class at USP, receiving awards for best student and top thesis, which opened doors to MIT, Stanford, and admissions into the world’s top PhD programs. At Stanford, he co-authored a study on mobile phone bans in Rio de Janeiro schools that sparked nationwide public debate on Jornal Nacional.

SAMORY FRAGA

ders Foun

The comfort zone was never a place Guilherme liked to stay. He pursued a career in soccer, completed a 75 km ultramarathon, and became the youngest analyst hired at both BTG Pactual and Advent International. At USP, his outstanding finance performance led to an invitation from a fintech, where he built a financial dictionary generating 300+ weekly visits that served as the launchpad for their B2C rollout. He is also the co-founder of a venture that currently impacts more than 50 students.

JOSÉ RICARDO DE OLIVEIRA ARAUJO

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Estudar Fellow

Rio Grande do Sul OLYMPIC ATHLETE Long Jump

Samory views his journey like a film: full of plot twists, challenges, improbable victories, and realized dreams. His proudest academic milestone was earning his Bachelor’s degree in International Relations from Kent State University. In athletics, his crowning achievement was competing at the Tokyo 2020 Olympic Games, finishing among the world’s top 16 in the long jump.

RONALDO FERNANDES PINHEIRO

Minas Gerais MASSACHUSETTS INSTITUTE OF TECHNOLOGY MBA

The first in his family to graduate from college, Ronaldo learned English from scratch while working at McKinsey and was admitted to MIT Sloan without a pre-existing support network. He attended university on a full ProUni scholarship and was recognized five times as an “Ibmec Star.” One of his most significant professional achievements was structuring the credit-portfolio-management area for one of the largest banks in the Americas while at McKinsey, generating more than US$100 million in financial impact.

ing Behr

ders Foun

Behring Founders and Athletes: In addition to financial support upon matriculation, fellows in these tracks also receive dedicated preparatory coaching and support.

25


Fundação Estudar’s

67 students supported across all regions of Brazil

Prep Program

4.5%

87% 73 %

31%

15 years of opening doors to the world’s best universities

9% 45%

The Prep Program was created by Álvaro Piquet, Joaquim Ribeiro, Samuel Elia, Thiago Picolo, and Wolff Klabin with a single mission: to show that studying at the world’s leading universities was possible and to empower young Brazilians to achieve that dream. In 2011, the Prep Program became part of Fundação Estudar, and since then, we have supported 675 young people from across Brazil.

Cumulative Admissions Over the Years:

1800

1350

795

900

57 0

2013

2015

2017

91%

of the class was admitted to universities outside Brazil

The Prep Program provides guidance for students applying for financial aid and scholarships at their target institutions. The 2025 cohort secured:

25 million

50 %

271

2011

Making the Dream a Reality

2019

2021

2023

2025

of all Brazilian students admitted to Harvard University, University of Pennsylvania, and Yale University were prepared by the Prep Program.

2/3 of the class were admitted to Top Schools Amherst College

Barnard College

Carnegie Mellon University

Results from the 2025 cohort

26

in university scholarships and financial aid.

More than

558

450

10.5%

1,403

1,197

1,004

come from households with a per capita annual income below US$9,900*

*Equivalent to less than three Brazilian minimum wages per month, converted to USD using the current exchange rate.

US$

1,800

attended public schools or held scholarships at private schools.

The 2025 cohort came from every corner of Brazil, from public and private schools, and from very different starting points. Together, they showed just how competitive young Brazilian talent can be a universities around the world.

Bowdoin College

Columbia University

Emory University

Georgetown University

Harvard University

New York University

Princeton University

Rice University

University of California - Los Angeles University of Notre Dame Vanderbilt University

Brown University

Dartmouth College

Duke Kunshan University

Georgia Institute of Technology (Georgia Tech) Northwestern University

Stanford University University of Chicago

University of Pennsylvania

Wesleyan University

Carleton College

Pomona College

Swarthmore College University of North Carolina - Chapel Hill

University of Richmond

Yale University.

27


Fundação Estudar’s Prep Program

ALICE MARIANE PEREIRA DA SILVA Swarthmore College São Paulo

Harvard University Distrito Federal

AUGUSTO YU YAZAKI Rice University São Paulo

FÁBIO MEDEIROS FERRAZ DE CAMPOS Georgia Institute of Technology São Paulo

BEATRIZ MORAES DE LIMA

DAVI FERNANDES DUARTE

DEBORA CRISTINE DOS SANTOS

FELIPE MAIA SILVA

University of Pennsylvania São Paulo

University of Notre Dame Minas Gerais

Georgia Institute of Technology Tocantins

Yale University Ceará

DIEGO HEITOR DA SILVA MONTEIRO

ENDREW RYAN DE OLIVEIRA BORTOLI

GIANNA VITÓRIA TORRES SANTOS

GIOVANNA VERONEZ ALVES PEDRO

Harvard University Acre

28

ANA BEATRIZ ARAÚJO SANTA CRUZ GOYANNA

Meet the 2025 Cohort Heading Abroad

Vanderbilt University São Paulo

University of Pennsylvania Maranhão

Allegheny College São Paulo

FELIPE ARAÚJO MORAES BARROS

FELIPE BARRETO TÁVORA

Yale University Rio de Janeiro

Yale University Ceará

HEITOR IMÍDIO DE OLIVEIRA SILVA

GIOVANA RAMALHO LACERDA

University of Notre Dame Goiás

University of Pennsylvania Bahia

GUSTAVO CARVALHO

KATRINA JAVAISAS DAVIS

University of Notre Dame São Paulo

Brown University São Paulo

29


Fundação Estudar’s Prep Program

LAURA OLIVEIRA DE CARVALHO Bowdoin College Minas Gerais

JOÃO VITOR NASCIMENTO DE ANDRADE DOS SANTOS Northwestern University Bahia

30

HELENA LEONARDI GONÇALVES Vanderbilt University Rio Grande do Sul

MARIA FERNANDA ALVES SILVA DOS SANTOS Columbia University Bahia

LUCAS DO VALE ARATAKE

MANUELA MIRANDA BUESA

Dartmouth College Goiás

University of Pennsylvania São Paulo

ISABELLE DE OLIVEIRA LEMOS Stanford University Rio de Janeiro

MARIA JÚLIA SIMÕES FERNANDES BRASILEIRO Barnard College Paraíba

MARIANA RODRIGUES CHAVES Harvard University Rio Grande do Sul

Meet the Class of 2025 Heading Abroad

MAYARA ANGÉLICA PESSOA NOBRE

OTÁVIO AUGUSTO MONFORTE DE OLIVEIRA

Amherst College Bahia

Pomona College São Paulo

PEDRO GUERRA PEIXOTO ACIOLI MARQUES

REBECA GOMES LIMA

REBECA SOARES NASCIMENTO

Columbia University Amazonas

Carnegie Mellon University Mato Grosso do Sul

RAFAEL OLIVEIRA E SILVA

RODRIGO ANHOLON NOVO

Georgia Institute of Technology São Paulo

Rice University São Paulo

TIAGO CAVALCANTE TRINDADE

Columbia University Pernambuco

PALOMA DIERINGS CÔRTES Harvard University Mato Grosso

Rice University São Paulo

31


Fundação Estudar’s Prep Program

Special Thanks to the Prep Gala Host Committee Prep Program Founders

To celebrate our impact to date, in 2026 we hosted the Prep Gala | Fundação Estudar at Casa Fasano. We brought together more than 300 people who believe in the transformative power

Prep Program 15 Years anos of dothe Prep Program

of education to learn about students’ stories, celebrate the program’s lasting legacy, and support this and other Fundação Estudar initiatives through a benefit auction.

Prep Program

Álvaro Piquet

Joaquim Ribeiro

Thiago Picolo

Wolff Klabin

Investing in the Prep Program is investing in future generations who will transform Brazil. Joaquim Ribeiro, Prep Program Co-Founder

Prep Gala Sponsors and Partners

Ana Paula Martinez

Florian Bartunek

Lara Lemann

André Abram

Constantino Bittencourt

Fabio Kapitanovas

Larissa Maranhão

Mariana Zander

Márcio Torres

Olavo Pereira

Pedro Albuquerque

Ricardo Veirano

Rosiane Pecora

Rodrigo Vella

Veronica Serra

Victor Bicalho

We thank everyone who contributed items and experiences to the auction, in particular: Adriana Varejão

André Sá

Eduardo Carvalho

Eduardo Mufarej

Henrique Dubugras Marcelo Mauler Sauer

Bruno Soares

JHSF

Fasano

João Fonseca

Márcio Torres

Carlos Vergara

Daniel Castanho

Francisco Loffredi

Jorge Paulo Lemann

Pedro Franceschi

Henri Zylberstajn Lucas Braathen

Raul Mourão

Transamérica Comandatuba.

We also thank Henri Zylberstajn for serving as the auctioneer during Fundação Estudar’s Prep Gala.

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Watch the Prep Gala video.

William Cordeiro

33


Financial Sustainability Our funding sources

How we allocate our resources

Scholarship

6% Other

73% Program and Community

11% Sponsorships Donors 32%

21% Pro Bono Prep Program 23%

Portals and Events

Founders 30%

Total: R$ 25,910,336

4%

Total: R$ 23,153,832* *The surplus is reinvested into the organization’s core activities the following year. The figures above are based on financial statements audited annually by Baker Tilly.

Endowment

34

Established in 2011, our endowment helps ensure the long-term sustainability of Fundação Estudar’s. Returns from the endowment are reinvested to support the organization’s future. We are guided by an Investment Committee made up of members of our community and representatives from Pragma, the manager of our endowment fund.

35


Our Donors In 1991, when our very first Fellow, Carlos Brito, received a scholarship from Fundação Estudar, Jorge Paulo made a request:

If you can, help someone the way I’m helping you. Thirty-five years later, that promise continues to be fulfilled with every Fellow who gives back and repays the value of the scholarship they received.

MATHEUS SANTOS

Fellow 2021 Georgia Institute of Technology

POLLYANA MARTINS PACHECO DOS SANTOS LIMA

Fellow 2019 University of Oxford

SOFHIA DE SOUZA GONÇALVES

Fellow 2023 Universidade de São Paulo

VIVIAN FOWLER

Fellow 2011 Universidade de São Paulo

We also thank all other Fellows currently in the process of giving back an amount equivalent of the scholarship they received.

Estudar Fellows Who Gave Back the Value of Their Scholarship Honoring Our Founders

August 2025 to July 2026

We thank our founders, who continue to support Fundação Estudar year after year and reaffirm the belief that drives us: creating opportunities for talented people to act big and transform Brazil.

36

BERNARDO LUIZ CAMPANARIO PRECHT

FELIPE GERMANOS DE CASTRO

Fellow 2025

Fellow 2019

Stanford University

Georgetown University

GABRIELA DIAS DE SOUZA

Fellow 2021 Fundação Getulio Vargas

ISABELA BARROS DAVID RODRIGUES

LETÍCIA NUNES CAMPOS

LUIZ FERNANDO DA SILVA SOUSA

Fellow 2018

Fellow 2022

Fellow 2013

Stanford University

Harvard Medical School

Pontifícia Universidade Católica do Rio de Janeiro

Jorge Paulo Lemann

Marcel Telles

Beto Sicupira

37


Our Donors

Donors and Partners

Donors Over the Past 12 Months

A Long-Term Commitment

We also thank each of the

The long-term pledge is a recurring giving commitment established at Fundação Estudar in 2020 to bring greater predictability to our philanthropic revenue. In addition to being one of our primary funding sources today, it stands as proof of trust from those who believe in Fundação Estudar and invest in its long-term future.

428 people who donated

over the past 12 months, making Fundação Estudar’s impact possible!

10-Year Pledge

João Carrilho

The Haegler Family receiving the 2025 Donors of the Year recognition, presented by Lara Lemann and Larissa Calixto.

Luis Heitor de Queiróz Gonçalves

Veronica Allende Serra

William Cordeiro

5-Year Pledge André e Deborah Pontual Enio Shinohara Gabriel Haddad Silva João Miranda de Oliveira Rebouças Brandão Kiki e Marcos Toledo Lucas Mendes e Bruna Negri Pedro Luis Cunha Farias Rodrigo Figueiredo de Souza.

3-Year Pledge

Veronica Serra receiving the 2025 Fellow Donor of the Year recognition, presented by Rodrigo Figueiredo and Caio Tamponi.

38

Amaury Martins Takaki Ana Paula Martinez André Ferreira Peixoto Andre Renato da Silva Aguiar Associação IEP Augusto Alves Tannure Carlos Fernando Vieira Gambôa Erika e Ricardo Veirano Fábio Kapitanovas Felipe Mendes dos Santos Fernando Augusto Paixão Machado Gabriel Felzenszwalb Guilherme e Cristiane Bastos Gustavo Chaves Vaz Gustavo F Almeida Albuquerque Gustavo Pimenta e Mercedes Vidal Hans Lin Joaquim Pedro Andrés Ribeiro Leonardo Prado Damião Lilian Feuer e Luis Stuhlberger Luiz & Cristiana Edmond Marcelo Sanchez Martins Mariana e Ricardo Fernandez Silva Jr Martha Campos de Castilho Mateus Brum Miguel Teixeira Andorffy Pedro Marcus Lira Palma Ricardo Camatta Sodré Ricardo Pereira de Almeida Rosiane Pecora Wolff Klabin.

39


Donors and Partners

Our Partners

Those Who Stand With Us

In this 35-year story written by many hands, Fundação Estudar’s partners are fundamental to making each of our initiatives possible.

We recognize all those whose donations help bring Fundação Estudar’s impact to life for young people across Brazil.

Major R$ 75,000 and above

Supporting Institutions

Alberto Leite Ana Carolina Nomura e Diego Barreto Ana Paula Martinez Florian Bartunek Gabriel Haddad Silva Grupo Alocc TNA Gestão Patrimonial Lilian Feuer e Luis Stuhlberger Luis Heitor de Queiróz Gonçalves Mariana e Ricardo Fernandez Silva Jr Renato Bromfman e Vânia Rolemberg Rodrigo Figueiredo de Souza Rosa Klabin Sandra Haegler e família Veronica Allende Serra Wolff Klabin.

Institutions and foundations supporting Fundação Estudar across all of its areas:

Diamond

R$ 50,000 to R$ 74,999

Amauri Chienmin Hong Andre Renato da Silva Aguiar Antonio Brennand Cláudio Haddad Edmar Miyake Eduardo Brenner Fábio Kapitanovas Fernando Augusto Paixão Machado Gustavo Pimenta e Mercedes Vidal Hans Lin Indianara e Renato Joiozo Kiki e Marcos Toledo Marco Kheirallah Mauricio Luis Luchetti Pedro Vieira Lima de Albuquerque.

Platinum

R$ 25,000 to R$ 49,999

André Reginato Antonio Augusto Barboza Pinto Enio Shinohara Frances Yumi Fukuda Alvim Guilherme Bueno Almeida Prado Guilherme e Cristiane Bastos Guilherme Prado Hugo Botelho Barra Humberto e Eduardo Carvalho João Carrilho João Miranda de Oliveira Rebouças Brandão Joaquim Pedro Andrés Ribeiro Lara Lemann Leonardo Bourbon Cabral Leonardo Reis Longo Luiz & Cristiana Edmond Marcelo Mauler Marcos Wecker Maurício França Júnior Maurício Nogueira Soufen Pedro Marcus Lira Palma Piero Rodrigues d’Avila Thiago Picolo Vinícius Guimarães Barbosa William Cordeiro.

Gold

R$ 10,000 to R$ 24,999

Alexandre Gurgel Allan Robles Paladino Amaury Martins Takaki Ana Paula Pereira Anderson e Fernanda Thees André e Deborah Pontual André Ferreira Peixoto Antônio Vicente La Camera Bianca Haegler Brasil Doce Lar - David & Robyn Beck Carlos Fernando Vieira Gambôa Carlos Watanabe Cesar Collier de Oliveira Colin Butterfield Conrado Engel Daniel Castilho de Oliveira Daniel Rodrigues Costa Dario Guarita Erika e Ricardo Veirano Felipe Mendes dos Santos Fernando Beyruti Francisco Loffredi Ridolfi Gabriel Felzenszwalb Giuliana Caroline Lopes dos Reis GP Investments - Antônio Bonchristiano e Fersen Lambranho Gustavo Chaves Vaz Gustavo F Almeida Albuquerque Gustavo Moura José de Menezes Berenguer Neto Julia Borges Evangelista Leonardo Prado Damião Lucas Mendes e Bruna Negri Luís Chicani Luis Ricardo Yamanishi Luiz Gustavo Mariano Marcelo Costa de Oliveira Marcelo Ferreira Kingston Marcelo Gomes Condé Marcelo Hallack Marcelo Lyra Machado de Carvalho Marcos Tavares Costa Carvalho Martha Campos de Castilho Miguel Teixeira Andorffy Olavo Pereira e Astrid Haegler Pedro Drevon Pedro Luis Cunha Farias Pollyana Martins Pacheco dos Santos Lima Ricardo Camatta Sodré Ricardo Pereira de Almeida Rodolfo Aranha Alves Barreto Ronaldo Rozenbaum Paiva Rosiane Pecora Stanley Ting Tatiana Preta Victor Valadão Bicalho Victoria Pacey Amato.

Silver

above, our sincere gratitude to Guilherme Benchimol and Sergio Rial.

Sponsors Companies supporting diverse areas of Fundação Estudar—from scholarships to events and opportunities for the entire community:

R$ 1,000 to R$ 9,999

Adelmo Hideyoshi Inamura Alain Phillipe Helder Auricchio Michel Alessandro Zema Silva Alexandre Dominguez Alexandre Ostrowieki Alvaro Piquêt Pessoa Ana Fernandes Kertesz Ana Paula Duffles Andrade Ana Paula Levy Langsch André Bernardes André Cordeiro Fuly de Queiroz André Gustavo Gontijo Penha André Leite André Luis Abram André Luiz de Moura Marques Andre Rizzo André Sapoznik Andrew Lage Hancock Andrew Marc Reider Antonio Paulo Marques Barbosa Antonio Pedro Marcondes Ferraz Augusto Alves Tannure Augusto Lins Beatriz Barros Bianca Martinelli Bruno Bittencourt Carvalho Oliveira Bruno Brizida Dreux Bruno Cani Bruno Dalapria Bruno De Martino Bruno Gonçalves Ferreira Santos Bruno Lima Christiana Lucena de Mello Pinheiro Cláudia Elisa de Pinho Soares Claudio José Carvalho de Andrade Cláudio Maurício Freddo Cristina Artimonte Farjallat Cristina Haruko Kawamoto Daniel Abbud Sarquis Aiex Daniel Oelsner Lopes Daniel Rodrigues Ribeiro Daniel Victor Assisi Daniela Fusco Alcaro Daniella Fonseca Raimundo Demian Pons Esparo Diego Antônio Moreira Diego Fresco Gutierrez Diego Puerta Eduardo Emilio Costa Trunci Eduardo Lopes Castello Branco Eduardo Saggioro Eduardo Vasconcellos Silva Fabio De Souza Aranha Cascione Fabio Futoshi Katayama Fabio Jorge Resegue Fábio Marcel Fossen Felipe Antonio Bichara Felipe Gomes da Fonseca Felipe Holzhacker Alves Felipe Nahas Mattar Fernando Merino Flavia Proenca de Farias Albernaz Florencia Fontan Balestra Florencia Robalinho Gabriel Ferreira Silva Tibúrcio Gabriel Gelli Checchinato Giuliana Klotz Gregory Louis Reider Guilherme Malik Parente Gustavo Moreira Gustavo Nakano Athayde França Henrique Zarif Frahya Hugo de Oliveira Carpanez Iris Pereira Barbosa Barreira Isabela Prado Lopes Picolo Jaime Pfaltzgraff Ribeiro Jason Dyett Jayme Chataque de Moraes João Eduardo de Paula Machado João Gabriel Costa Pinheiro João Gabriel Gomes Alkmim João Henrique de Aquino Vogel João Moraes Abreu João Oliveira Siffert Julio André Kogut Larissa Bomfim Larissa Torri Leonardo Metsavaht Lissa Collins Fossen Livio Baldini Soares Lucas Niemeyer Carneiro Messina de Assis Luciana Hall Cezar Coelho Luigi Quinto Luisa Alves Escosteguy Luiz Fernando Lemos do Valle Luiz Ricardo Barbosa Galdi Delgado Marcela Lucchesi Marcelo Bellini Cardoso Marcelo Machado Marcelo Sanchez Martins Marcio Verri Bigoni Marcos Antônio de Oliveira Júnior Marcus Fontoura Maria Fernanda Lima da Rocha Barros Maria Julia Azambuja Mariana Gracioso Barbosa Mariana Hatsmura Costa Marília Artimonte Rocca Mário Carlos Fernandes Filho Mateus Brum Mirella Morabia Radomysler Monica Saggioro Newton Maia Salomão Alves Nicolas Frajhov Paulo José Pinheiro Lemgruber Paulo Victor da Conceição Monteiro Pedro Camata Verdini Pedro Dias Pedro Henrique da F. Rodrigues Pedro Loffredi Ridolfi Pedro Paulo Alves de Brito Pedro Rodrigues Jaime Philemon Mattos Neto Rafael de Simone Martines Rafael Sampaio da Motta Raphael Bozza Renan de Paula Pereira Henrique Ricardo Mahlman de Almeida Ricardo Marques Lisboa Ricardo R M Guerra Roberto O C Perroni Rodrigo Arima de Paiva Rodrigo de Almeida Pizzinatto Rodrigo Menezes Han Rodrigo Paolucci Rodrigo Vilardo Vella Rony Figueiredo Sousa Samuel Corrêa Lima Costa Carvalho Sandro Bassili Sheide Chammas Sofhia De Souza Gonçalves Stephanie Habrich Stephanos Velissaropoulos Tallis Regence Coelho Gomes Tatiana Martins Bacelar de Rezende Thais Starling de Pádua Lamy de Miranda Victor Bomfim Victor Cortez Crocia Barros Virgilio Fagundes Viviane Atik K Barbosa Yuki Kajihara Imamura.

40

A special thanks to the sponsors who made the inaugural Climate Fellow scholarships possible: in addition to AGNI and AIEP mentioned

Institutional Supporters Partners providing pro bono support to Fundação Estudar: VPBG Advogados

APPLY PREP

AARON LITVIN.

41


Governance and Team Founders

Beto Sicupira Jorge Paulo Lemann Marcel Telles

Board Chair

Florian Bartunek

Vice Chair of the Board Ana Paula Martinez

Board of Directors André Penha Joice Toyota Lara Lemann Letícia Piccolotto Rodrigo Figueiredo

Fundraising Committee Lara Lemann Pedro de Albuquerque Veronica Serra

People, Management, and Finance Committee André Abram Daniela Anderez Letícia Piccolotto Rodrigo Figueiredo

Investment Committee – Endowment Fund

42

Florian Bartunek Renato Mazzola André Reginato Rodrigo Azevedo Marcelo Medeiros Endowment Fund Manager - Pragma

Marketing, Sales, and Product Committee Joice Toyota Larissa Maranhão João Brandão

Prep Program Founders Álvaro Piquet Joaquim Ribeiro Samuel Elia Thiago Picolo Wolff Klabin

CEO of Fundação Estudar

Lucas Mendes de Freitas Teixeira

Team

Ana Carolina Magrille Molle Camila da Cunha Marques Caroline Alves de Castro Constança D’amorim Machado Gonçalves Débora Dietrich Ribeiro Eduardo Lima Costa Gabriela Marcon Giovanna da Silva Keyla Cavalcante Carvalho Lucas Cabral de Souza Ramos Lucas Mounnir Ferreira El Taoui Maria Cecília de Oliveira Andrade Figueira Marina Imamura Porreca Michelle Paula Berte Nogueira Pietro Piumbato Chaparro Rodrigues Rosie Falcon-Shapiro Thamiris Souza Tavares Vinícius Piotto da Silveira Guimarães Yasmin Makhamid Makhamed

Coordination and Content Marina Imamura

Support Ana Luisa Moraes

Translation Teodoro Trevisan Rosie Falcon-Shapiro

Design Im3rsiva


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