In our opinion, the financial statements referred to above adequately present, in all material respects, the equity and financial position of OCEANA BRASIL as of December 31, 2023, the performance of its operations and its cash flows for the year ended on that date, in accordance with the accounting practices adopted in Brazil, by the Brazilian Accounting Standards (BRGAAP), notably ITG 2002 (R1). [...] Responsibilities of Management and those charged with governance for the financial statements Management is responsible for the preparation and adequate presentation of financial statements in accordance with accounting practices adopted in Brazil, applicable to non-profit entities (ITG 2002), and for the internal controls that it determined to be necessary to allow the preparation of financial st. [...] We obtain an understanding of internal controls relevant to the audit to plan audit procedures appropriate to the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Entity's internal controls. [...] The expenses and costs incurred basically represent the allocation of human and material resources in the execution of projects and are allocated to profit or loss in accordance with the accrual accounting system. [...] Provisions are measured at the present value of the expenditure expected to be necessary to settle the obligation, using a pre-tax rate that reflects current market assessments of the time value of money and the specific risks of the obligation.
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