Vasta Platform : 2022 Sustainability Report

SUSTAINABILITY REPORT

2022

		CORPORATE	FINANCIAL AND	REINVENTING 21ST	OUR IMPACTS	SUPPLEMENTARY	GRI & SASB		2
WELCOME	ABOUT US	OPERATING
GOVERNANCE	CENTURY EDUCATION	ON SOCIETY	INFORMATION	CONTENT INDEX
		PERFORMANCE

Contents

3 | Welcome

Message from management

7 | About us

Vasta Platform

20 | Corporate governance

Governance framework

Ethical and transparent management

34 | Financial and operating performance

37 | Reinventing 21st century education

Business strategy

Education ecosystem

Innovation and digital transformation Science in learning

Holistic and transformative education

59 | Our impacts on society

Our talents

Social impact

Eco-efficiency

81 | Supplementary information

90 | GRI & SASB content index

101 | Corporate information

		CORPORATE	FINANCIAL AND	REINVENTING 21ST	OUR IMPACTS	SUPPLEMENTARY	GRI & SASB		3
WELCOME	ABOUT US	OPERATING
GOVERNANCE	CENTURY EDUCATION	ON SOCIETY	INFORMATION	CONTENT INDEX
		PERFORMANCE

Welcome GRI 2-3

Guided by transparency and best practices in accountability, we are presenting the Vasta Platform's Sustainability Report for the second consecutive year. This report highlights the main actions taken and the results achieved by the company between January 01 and December 31, 2022.

Our report has been prepared taking into account the environmental, social and corporate governance (ESG) aspects of our business. The report complies with the Global Reporting Initiative (GRI) 2021 version and also considers other standards recognized in Brazil and abroad, such as the Sustainability Accounting Standards Board (SASB) guidelines for the education sec- tor, the guidelines of the IBC Stakehold-

established in 2021, which gathers the eight topics deemed most relevant by our primary stakeholders. Each of these topics are related to the United Nations Sustainable Development Goals (SDGs).

Throughout the report, references to the GRI* and SASB content are marked with the corresponding topic reference number. We also present at the end of the report a complete list of the indicators reviewed, in the GRI Content Index, including SASB and other proprietary indicators.

er Capitalism Metrics from the World Economic Forum, and the principles of the International Integrated Reporting Council (IIRC).

The data shared has been assessed and analyzed based on our materiality matrix

• In 2021, the GRI guidelines were updated based on global feedback, aligning their standards even more with the goals of mitigating negative impacts and boosting positive contributions by organizations.

This led to changes in how disclosures are indexed. GRI 2-4

The photographs in this report depict real situations experienced by our staff, partner schools and their students.

Any questions or feedback on this annually released report should be sent to the email: [e-mail]

			CORPORATE	FINANCIAL AND	REINVENTING 21ST	OUR IMPACTS	SUPPLEMENTARY	GRI & SASB		4
	WELCOME	ABOUT US	OPERATING
	GOVERNANCE	CENTURY EDUCATION	ON SOCIETY	INFORMATION	CONTENT INDEX
			PERFORMANCE

Message from management GRI 2-22

The values we set for Vasta in 2022 couldn't better represent our current mo- ment. It was an outstandingly positive year, marked by a business recovery following previous periods heavily impacted by the Covid-19 pandemic. The success of our results signals a return to normal and reaffirms the company's robustness, combined with a consistent strategy of delivering the best educational solutions for basic education schools, allowing us to generate predictable, sustainable and increasing revenue. Simultaneously, we offer the country positive prospects for building a more prosperous future grounded on state-of-the-art academic, social and emotional education for our children and teenagers.

To achieve this, we cultivated a new organizational culture, "SOMOS o que cul- tivamos"*, bringing together individuals who see the values of "Autonomy and Support", "Well-being", "Innovation",

* WE ARE what we cultivate

"Excellence" and "Leadership" as pillars to develop and deliver to schools, students and families the solutions that set us on the path to redefining 21st-century education, allowing students to reach their full potential through holistic and transformative education. The strength and determination of our organizational culture, redesigned in 2022 with vast participation from our professionals, positions us as leaders in this movement.

On this journey, we developed and incorporated new solutions that solidify the school as a central hub of education-a trusted and secure place for students to grow academically and hone their so- cio-emotionalskills-both during and after school hours using additional products and services. We achieved this by recognizing the significance our portfolio has gained in the K-12 segment over recent years, stemming from platform integration and a keen focus on the varied

needs of educational institutions, which we have become primary partners of.

What we delivered to the market in 2022 epitomizes this effort. This year, we embarked on a significant initiative to broaden the reach of our solutions to millions of students in Brazil. With careful planning, we positioned ourselves to collaborate with state and municipal au- thorities, offering the latest educational tools and content for these students. Our mature, flexible system allows us to create bespoke solutions tailored to individual needs.

For the first time, we began exclusive distribution and sales of Mackenzie's educational systems. We extended our exper- tise, extensive reach and visibility in this field to our new partner. This shows that we can deliver value through both our own solutions and those of our partners, leveraging the expertise we possess.

Expanding our portfolio aligned with the desires and needs of the K-12 sector and based on our trend research, we launched Eduall, a bilingual education solution crafted in collaboration with Macmillan Education. This British group, with a 170-year history, produces English language teaching materials. By combining our deep understanding of Bra- zilian schools with our partner's history, tradition and quality, we offer a comprehensive yet flexible product adaptable to any educational institution.

In 2022, we initiated a pivotal movement to extend the reach of our solutions to millions of students in Brazil

			CORPORATE	FINANCIAL AND	REINVENTING 21ST	OUR IMPACTS	SUPPLEMENTARY	GRI & SASB		5
	WELCOME	ABOUT US	OPERATING
	GOVERNANCE	CENTURY EDUCATION	ON SOCIETY	INFORMATION	CONTENT INDEX
			PERFORMANCE

We expanded our portfolio in tune with the needs and aspirations of the K-12 segment and our trend research

In school and academic management, we've added more tools to our portfolio to enhance the organizational administration of schools. With the acquisition of Phidel- is, a software that consolidates management services like attendance, grading, class schedules, messaging, enrollments, re-enrollments and payments, we make it easier for educational organizations to efficiently use work time to develop teaching practices and business strategies.

We've further innovated our management solutions by partnering with Educbank, a fintech focused on basic education. Targeting this sector, the financial company provides interest rates and credit flow suitable for Brazilian schools, ensuring confidence and liquidity for investments and maintaining business health. It's a direct capital injection into a market we believe in and are confident will thrive in the country.

When it comes to engaging with fami- lies, we've designed solutions that directly connect educators from our partner schools with students. Through the Plu- rall Store Family, we introduced the latest

Plurall Meu Prof, which offers and facilitates private classes, and Plurall Adapta, which allows students to personalize their learning journey based on AI-identified areas needing improvement.

The latter, in fact, is a direct result of a vital initiative in our company's recent growth. Focused on the science of learning, this is an area we consistently invest in. In 2022, we partnered with Athention, using neu- roscience as a foundation to identify the best learning strategies tailored to each institution, class and even individual stu- dents. This represents a revolutionary approach to education, a cornerstone for the school of the future.

All these projects, initiatives, products, services and platforms make up our port- folio, which includes dozens of other solutions and is always evolving to meet each school's unique needs. We're mindful of these needs and are geared to either internally develop new solutions or make acquisitions, establishing ourselves as the leading partner for basic education schools in Brazil.

Everything we do is grounded in our robust ESG strategy, meticulously crafted in 2021 and guiding our actions in 2022. We believe that lasting outcomes, which we strive for, are achievable only if they align with social, environmental and corporate governance issues. We're publicly committed to supporting the UN's Sustainable Development Goals (SDGs) as members of the Global Compact.

We accordingly prioritize integrity and transparency, relentlessly pursue and measure outcomes and indicators such as eco-efficiency, and assess the social impact of our operations. Here, I'd like to highlight the initiatives of the SOMOS Institute and the launch, in 2022, of our inaugural affirmative internship program, SOMOS Afro.

Thanks to these initiatives and our meticulous corporate planning, December 2022 marked our fifth consecutive quarter of growth in net revenue, ending the year with a 33.4% increase. Subscription products accounted for 88% of this indicator, with supplementary solutions