While the pair seems to be getting friendly, both are still dealing with fallout from their past relationships.
"Brad and Emily have spent time together, but it's very casual. They're friends," the source says. "Emily recently filed for divorce and Brad is still going through his situation with Angelina [Jolie] so neither are looking for anything serious right now."
Ratajkowski reportedly filed for divorce from Sebastian Bear-McClard in Manhattan Supreme Court earlier this month after quietly tying the knot in February 2018. Together they share a son, Sylvester, who is now 1.
Pitt, meanwhile, continues to face fallout from the 2016 end of his marriage to Jolie through a series of contentious legal battles. Together, he and Jolie share six children ranging in age from 13 to 21.
Pitt recently put his relationships on display, so to speak, when he unveiled a series of deeply personal sculptures that he created as part of an art exhibit in Finland.
"To me it's about self-reflection," he said of the project. "It's about where I have gotten it wrong in my relationships, where I have misstepped, where am I complicit. For me, it was born out of ownership of what I call a radical inventory of self, getting really brutally honest with me and taking account of those I may have hurt, moments I have just gotten wrong."
See ET's latest coverage of Pitt and Ratajkowski below.