Construtora Tenda S A : Dados Econômico-Financeiros

Construtora Tenda S.A.

Notes to the individual and consolidated Interim financial information

For the period ended June 30, 2022

(Convenience Translation into English from the original previously Issued in Portuguese

NOTES TO THE INDIVIDUAL AND CONSOLIDATED INTERIM FINANCIAL INFORMATION FOR THE PERIOD ENDEDJUNE 30, 2022

Contents
Management Report June 3,2022.........................................................................................................	03
Audited financial statements
Balance sheet ..........................................................................................................................................	31
Statement of profit or loss ...................................................................................................................	33
Statement of comprehensive income..................................................................................................	34
Statements of changes in Equity..........................................................................................................	35
Statement of cash flows........................................................................................................................	36
Statement of value added.....................................................................................................................	37
Notes to interim financial information................................................................................................	38
Independent auditor's report on the financial statements...............................................................	62

Earning

Release

2Q22

We continued with a positive evolution in sales price of 20% YoY and 9% QoQ, resulting in anNet SoS of 22.8 (-11.5pp YoY and -3.3pp QoQ) at Tenda.

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São Paulo, August 4th, 2022 - Construtora Tenda S.A. ("Company", "Tenda"), a leading Brazilian homebuilder and real estate developer focused on affordable housing, announces today its results for the first quarter of 2022.

HIGHLIGHTS

FINANCIALS

• Net Revenue of R$627 million for the quarter (-10.3% YoY and +7.8% QoQ), impacted by lower construction progress and PSV;
• Gross Margin of New Sales of 30.6% in June (+8.9p.p. vs Jan/22) and 28.8% at 2Q22 (+5.1p.p. QoQ);
• AdjustedGross Margin of 16.3% with 17.4% of Tenda brand;
• Backlog Margin of Tenda brand reached 24.9% (-7.8p.p. YoY and +1.1p.p. QoQ);
• Increase of Cash Availability of R$20.6 million positive for the quarter, against a negative balance of 261.5 million in 1Q22;

OPERATIONS

• Launch of 10 projects totaling R$769.1 million (-22.0% YoY and +64.6% QoQ), with an average price of R$201.1 thousand (+33.2% y/y and +14.1% y/y). We emphasize the price gain spread across all regions;
• Gross SoS (speed over gross supply) of 30.2% (-8.0p.p. YoY and -2.8p.p. QoQ) with an increase in the average sales price, which amounted to R$176.6 thousand, (+19.7% YoY and +8.7% QoQ);
• Net Pre-Sales totaled R$578.4 million (-33.0% YoY and -3.3% QoQ) with net SOS of 23.2% (-11.0p.p. YoY and -3.3p.p. QoQ) and average price of 182.1 thousand (+23.3% YoY and +11.1% QoQ);
• Net SoS of 23.2 (-11.0p.p. YoY and -3.3p.p. QoQ), with Tenda brand of 22.8% (-11.5p.p. YoY and -3.3p.p. QoQ);
• PSV transferred ended the quarter with R$467.6 million (-33.9% YoY and -14.6% QoQ);
• Landbank totaled a PSV of R$13.6 billion (+12.7% YoY and +1.2% QoQ). Land aquisition of R$0.9 billion with an increase in the percentage of swaps that now represents 50.4% of the total landband (+9.7 p.p. YoY and +2.6 p.p. QoQ).

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MESSAGE FROM THE MANAGEMENT

In 2Q22, we launched 10 projects totaling a PSV of R$769.1 million under the Tenda brand. This was the second quarter of our recovery, in which we imposed great rigor on the Company's operations, aiming, above all, at rebuilding our margins and deleveraging our balance sheet.

Launches in the quarter had an average price per unit of R$201.1 thousand, reflecting an increase of 33.2% compared to launch prices in the same period in 2021, and a sequential evolution compared to 1Q22 of 14.1%. This is a result of a higher concentration of launches in SP, combined with an increase spread across all the regions in which we operate.

Average Price Launches (R$ thousand)

Our sales prices are the lever with the highest speed of response to results in Tenda's business model, we ended the second quarter with an average price of R$176.6 thousand, 20% higher than in the same period in 2021. Net sales totaled R$558.4 million (-34.9% YoY; -3.5% QoQ) with a net SSV of 22.8% (11.5pp YoY; -3.3pp QoQ).

Price Evolution x Net Sales (PSV, R$ million) and Net SoS (%)

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