Earnings Documents

São Paulo, November 11,2021.

TECNISA S.A. - 3Q21 EARNINGS RELEASE

TECNISA launches Highlights Dr. Nelson Moretti and Residencial Florear projects, with a PSV of R$ 288 million. The Net Contracted Sales, TECNISA's share, amounted to R$ 79 million in the quarter, an increase of 59% in comparison 2Q21.

TECNISA S.A. (B3: TCSA3), one of the largest residential developers in Brazil, operating with an integrated business model that includes development, construction and brokerage, announces today its results for the third quarter of 2021 (3Q21). The information contained herein is presented in accordance with Brazilian accounting standards, in Brazilian real (R$), pursuant to Brazilian Corporate Law.

HIGHLIGHTS

In 3Q21, the Company launched the Highlights Dr. Nelson Moretti and Residencial Florear project, in the city of São Paulo, totaling a Potential Sales Value ("PSV") of R$ 288 million, 100% TECNISA. It is worth mentioning that the launches were carried out at the end of the quarter and, until the release of this report, had 7% and 13% of units sold, respectively.

As a subsequent event, on October 2021, Highlights Pinheiros and MontKlabin projects were launched, located in the Pinheiros and Chácara Klabin neighborhoods, with a PSV of R$ 166 million and R$ 198 million, respectively, both 100% TECNISA. Considering this, the Company reached around 91% of the projected launches ("guidance") which was from R$1.2 to R$1.5 billion in PSV for the 2020 and 2021 biennium, as per the Material Fact of November 11, 2020.

The Net Contracted Sales, TECNISA's share, amounted to R$ 79 million in the quarter, an increase of 59% in comparison to 2Q21 and decrease of 10% in comparison to 3Q20. In the year-to-date, Net Contracted Sales totaled R$ 184 million, an 11% reduction compared to 9M20. Considering the launches made at the end of the period, the Gross Sales-over-Supply("SoS") ratio, reached 11% in 3Q21.

Net Revenue reached R$ 25 million in 3Q21, 57% lower than 3Q20 and 61% lower than 2Q21, due mainly by [i] the events in 2Q21 that affected comparability, namely, the sale of three non-strategic plots of land and appropriation of the results of three projects that were previously under suspension clauses; as well as [ii] the greater representation of the sale of inventory of newly launched units, whose revenue recognition occurs as the financial evolution of ongoing construction works.

It should be noted that the launches carried out in the quarter are subject to suspensive clauses, so its sales do not yet contribute to the revenue for the period

TECNISA ended 3Q21 with a net loss of R$ 45 million, decreasing 17% compared to the loss of R$ 35 million in 3Q20 and an increase of 27% when compared to 2Q21.

The consolidated cash position (Cash, Cash Equivalents and Financial Assets) ended 3Q21 with R$ 184 million, which compares to R$ 42 million in in the short term Debt, a condition that provides financial comfort for the launches resumption. We also highlight that all recently launched projects already have contracted financing.

The Cash Generation in the period, measured by the net debt variation, totaled R$ 14 million in 3Q21. In 3Q21, we realized the securitization of receivables totaling R$ 67 million, of which 90% were settled in the quarter and the remainder to be released in November 2021, after registration of the Real Estate Credit Note ("CCI").

As a subsequent event, in October 2021 TECNISA changed its headquarters, which is now located at Avenida Nicolas Boer, in the Jardim das Perdizes neighborhood. Expenses with the new headquarters will correspond to

approximately one third of the previous headquarters, mainly because of the reduction in the occupied area that was made possible by the [i] readjustment of the number of administrative employees carried out over the last few years and [ii] the adoption of the hybrid system of work (remote and in person).

On the meeting of the Board of Directors held on November 3, 2021, , the following resolutions were approved

1. the exit of Mr. Joseph Meyer Nigri from the position of Chief Executive Officer and, as replacement, the election of Mr. Fernando Tadeu Perez as Chief Executive Officer of the Company; (ii) the exit of Mr. Fernando Tadeu Perez from the position of member of the Board of Directors and, as replacement, the election of Mr. Joseph Meyer Nigri as member of the Board of Directors of the Company; and (iii) the appointment of Mr. Joseph Meyer Nigri to the position of Vice-Chairman of the Board of Directors of the Company, with the maintenance of Mr. Ricardo Barbosa Leonardos as member of the Board of Directors.
   Mr. Joseph will remain active in the Company's day-to-day activities, coordinating the People, Conduct and Investments Committees. The Company's Business Strategy will not be altered by this change of Management. The transition in management will be gradual and Mr. Joseph will continue to support the Executive Board and contribute to the complete succession of the position to his replacement, now as a member of the Company's Board of Directors.

INDEX
TECNISA MAIN FIGURES ................................................................................................................	4
OPERATING PERFORMANCE ..........................................................................................................	5
LAUNCHES ..........................................................................................................................................	5
CONTRACTED SALES...........................................................................................................................	5
TECNISA VENDAS................................................................................................................................	7
LAND BANK ........................................................................................................................................	7
INVENTORY AT MARKET VALUE.........................................................................................................	9
DEVELOPMENT DELIVERY ................................................................................................................	10
RECEIVABLE TRANSFERS ..................................................................................................................	10
FINANCIAL PERFORMANCE..........................................................................................................	12
GROSS OPERATING REVENUE ..........................................................................................................	12
NET OPERATING REVENUE...............................................................................................................	12
COST OF PROPERTIES SOLD AND SERVICES RENDERED...................................................................	13
GROSS INCOME AND GROSS MARGIN .............................................................................................	13
BACKLOG RESULTS ...........................................................................................................................	14
SELLING EXPENSES ...........................................................................................................................	15
GENERAL AND ADMINISTRATIVE EXPENSES....................................................................................	15
EQUITY IN SUBSIDIARIES ..................................................................................................................	16
OTHER OPERATING REVENUES (EXPENSES).....................................................................................	16
EBITDA..............................................................................................................................................	17
FINANCIAL RESULTS .........................................................................................................................	17
INCOME AND SOCIAL CONTRIBUTION TAXES ..................................................................................	18
NET INCOME.....................................................................................................................................	18
CASH POSITION AND INDEBTEDNESS ..............................................................................................	19
TRADE ACCOUNTS RECEIVABLES......................................................................................................	20
SUBSEQUENT EVENTS .................................................................................................................	22
3Q21 EARNINGS CONFERENCE CALL ............................................................................................	23
IR CONTACTS ..............................................................................................................................	23
APPENDIX ...................................................................................................................................	24
APPENDIX 1 - INCOME STATEMENT - TECNISA S.A. CONSOLIDATED (IN THOUSANDS OF REAIS) .24
APPENDIX 2 - BALANCE SHEET - TECNISA S.A. CONSOLIDATED (IN THOUSANDS OF REAIS) ..........	25
APPENDIX 3 - CASH FLOW - TECNISA S.A. CONSOLIDATED (IN THOUSANDS OF REAIS).................	27

TECNISA MAIN FIGURES

12

1. Equity shareholder includes minority interest.
2. Cash Generation, measured by the net debt variation.

2 Additionally, it considers disbursements for land acquisitions of R$ 70 million, R$ 132 million, R$ 30 million and R$ 1 million in 3Q20, 9M20, 2Q21 and 3Q21, respectively.

OPERATING PERFORMANCE

LAUNCHES

In 3Q21, we launched Highlights Dr. Nelson Moretti and Residencial Florear, in Jardim Prudência and Vila Clementino neighborhood, totaling a Potential Sales Value ("PSV") of R$ 288 million, 100% TECNISA. Until the release of this report, the projects had 7% and 13% of the units sold. Year-to-date, Launches totaled R$ 453 million. It should be noted that these launches took place at the end of the quarter, therefore, a greater impact on sales of these projects is expected in the coming periods.

As a subsequent event, the Highlights Pinheiros and MontKlabin projects were launched in October, located in the Pinheiros and Chácara Klabin neighborhoods, with a PSV of R$ 166 million and R$ 198 million, both 100% TECNISA.

With these launches, the Company reached 91% of the minimum point of the projection of launches ("guidance") from R$1.2 to R$1.5 billion in PSV, TECNISA's share, for the 2020 and 2021 biennium, according to the Material Fact disclosed on November 11, 2020.

CONTRACTED SALES

Gross Contracted Sales, TECNISA's share, totaled R$ 82 million in the quarter, 49% higher when compared to 2Q21 and 16% lower over 3Q20. The gross sales pace, as measured by the Gross Sales-over-Supply("SoS") ratio, reached 11% in 3Q21, remaining virtually constant in relation to 2Q21.