Kroton Educacional : Minutes BDM 03.30.2020

COGNA EDUCAÇÃO S.A.

Corporate Taxpayer ID (CNPJ/MF): 02.800.026/0001-40

Company Registry (NIRE): 31.300.025.187

Publicly Held Company

MINUTES OF THE 173RD MEETING OF THE BOARD OF DIRECTORS

HELD ON MARCH 30, 2020

1. Date, Time and Venue:On March 30, 2020 at 5:30 p.m., at the registered office of Cogna Educação S.A. ("Company") located in the City of Belo Horizonte, State of Minas
   Gerais at Rua Santa Madalena Sofia, 25, 4º andar, sala 01, Bairro Vila Paris, CEP 30.380-
2. Attendance:Called in accordance to article 16, first paragraph, of the Company's
   Bylaws. All members of the Board of Directors participated of the meeting remotely. The Fiscal Council of the Company was also invited to participate remotely, having sent its report to the Board of Directors.
3. Presiding:Chairman: Evando José Neiva; Secretary: Leonardo Augusto Leão
   Lara.
4. Decisions:After examining, discussing and reviewing the matters on the agenda, the Directors present, unanimously and without reservations:

1. authorized the drawing up of the minutes of this Meeting of the Board of Directors in summary form;
2. approved the Management Report on the corporate businesses and key administrative developments, as well as the management accounts for the fiscal year ended December 31, 2019, which will be submitted to the shareholders of the Company at the Annual Shareholders' Meeting;
3. approved the Company's Financial Statements and Independent Auditors' Report for the fiscal year ended December 31, 2019, which will be submitted to the shareholders of the Company at the Annual Shareholders' Meeting;

1. approved the proposed allocation of the Company's net income for the fiscal year ended December 31, 2019, to be submitted to the shareholders of the Company at the Annual Shareholders' Meeting, in accordance with the terms and conditions presented to the Board of Directors on the date hereof, which will be filed at the headquarters of the Company;
2. approved the limit for the overall annual compensation of the managers of the Company, including the members of the Fiscal Council, if installed, for fiscal year 2020, to be submitted to the shareholders of the Company, in accordance with the terms and conditions presented to the Board of Directors on the date hereof, which will be filed at the headquarters of the Company;
3. approved the summoning of the Annual and Extraordinary Shareholders' Meeting of the Company, to consider and vote on the matters set forth in Article 132 of Federal Law 6,404 of December 15, 1976, as amended, on the overall annual compensation of the managers of the Company for fiscal year 2020 and on the election of the Fiscal Council, if installed. The publication of the Call Notice and other relevant documents (including those required under CVM Instruction 481/2009) will be made pursuant to the law;
4. approved the technical study on the expected generation of future taxable profits, adjusted to present value, to enable the realization of deferred tax assets in accordance with the applicable laws; and
5. in light of the aforementioned approvals, the members of the Board of Directors decided to authorize the Executive Board of the Company to carry out any measures and sign any documents required for implementing the resolution approved herein, including the submission of the applicable documents to the CVM, pursuant to applicable law, and carry out all due legal publications.

5. Closure and Drawing Up of Minutes:There being no further business to discuss, these minutes were drawn up, read, unanimously approved and signed by all present. Signatures: Presiding: Evando José Neiva - Chairman; Leonardo Augusto Leão Lara - Secretary. Directors Present: Rodrigo Calvo Galindo; Evando José Neiva; Walfrido Silvino dos Mares Guia Neto; Luiz Antonio de Moraes Carvalho; Nicolau Ferreira Chacur; Juliana Rozenbaum Munemori and Thiago dos Santos Piau.

Conforms to the original recorded in own book

Belo Horizonte, March 30, 2020

_________________________________

Leonardo Augusto Leão Lara

Secretary

Signs the document digitally. Leonardo Augusto Leão Lara. Secretary.