Aeris Indústria e Comercio de Equipamentos para Geração de Energia S A : Dados Econômico-Financeiros

Aeris Indústria e Comércio de Equipamentos para Geração de Energia S.A.

Quarterly Information (ITR) as of March 31, 2022

and report on the review of the quarterly information

Report on review of quarterly information

To the Board of Directors and Stockholders

Aeris Indústria e Comércio de Equipamentos para Geração de Energia S.A.

Introduction

We have reviewed the accompanying parent company and consolidated interim accounting information of Aeris Indústria e Comércio de Equipamentos para Geração de Energia S.A. ("Company"), included in the Quarterly Information Form (ITR) for the quarter ended March 31, 2022, comprising the balance sheet at that date and the statements of income, comprehensive income, changes in equity and cash flows for the quarter then ended, and explanatory notes.

Management is responsible for the preparation of the parent company interim accounting information in accordance with the accounting standard CPC 21, Interim Financial Reporting, of the Brazilian Accounting Pronouncements Committee (CPC), and of the consolidated interim accounting information in accordance with CPC 21 and International Accounting Standard (IAS) 34 - Interim Financial Reporting issued by the International Accounting Standards Board (IASB), as well as the presentation of this information in accordance with the standards issued by the Brazilian Securities Commission (CVM), applicable to the preparation of the Quarterly Information (ITR). Our responsibility is to express a conclusion on this interim accounting information based on our review.

Scope of review

We conducted our review in accordance with Brazilian and International Standards on Reviews of Interim Financial Information (NBC TR 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Brazilian and International Standards on Auditing and consequently did not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion on the parent company interim information

Based on our review, nothing has come to our attention that causes us to believe that the accompanying parent company interim accounting information included in the quarterly information referred to above has not been prepared, in all material respects, in accordance with CPC 21 applicable to the preparation of the Quarterly Information, and presented in accordance with the standards issued by the CVM.

Conclusion on the consolidated interim information

Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated interim accounting information included in the quarterly information referred to above has not been prepared, in all material respects, in accordance with CPC 21 and IAS 34 applicable to the preparation of the Quarterly Information, and presented in accordance with the standards issued by the CVM.

Other matters

Statements of value added

The quarterly information referred to above includes the parent company and consolidated statements of value added for the quarter ended March 31, 2022. These statements are the responsibility of the Company's management and are presented as supplementary information under IAS 34. These statements have been subjected to review procedures performed together with the review of the quarterly information for the purpose of concluding whether they are reconciled with the interim accounting information and accounting records, as applicable, and if their form and content are in accordance with the criteria defined in the accounting standard CPC 09 - "Statement of Value Added". Based on our review, nothing has come to our attention that causes us to believe that these statements of value added have not been properly prepared, in all material respects, in accordance with the criteria established in this accounting standard, and consistent with the parent company and consolidated interim accounting information taken as a whole.

Recife, May 12, 2022

PricewaterhouseCoopers

Auditores Independentes Ltda.

CRC 2SP000160/O-5

Helena de Petribu Fraga Rocha

Account CRC 1PE020549/O-6

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Aeris Indústria e Comércio de Equipamentos para Geração de Energia S.A.

Statement of financial position

In thousands of reais

	Parent Company		Consolidated				Parent Company		Consolidated
Assets	03/31/2022	12/31/2021	03/31/2022			12/31/2021	Liabilities and equity	03/31/2022	12/31/2021	03/31/2022			12/31/2021
Current									Current
Cash and cash equivalents (Note 4)	733,383	884,114	739,162			892,933	Suppliers and reverse finance operation (Note 10)	439,986	442,427	441,795			445,286
Trade receivables (Note 5)	145,600	119,499	149,526			126,877	Borrowings, financings and debentures (Note 11)	117,951	91,688	117,951			91,688
Inventories (Note 6)	888,665	800,288	889,623			801,396	Derivative financial instruments (Note 18)	-	790	-			790
Taxes recoverable (Note 7)	175,670	144,144	175,670			144,200	Salaries and social security charges	38,496	34,745	38,574			34,771
Related parties (Note 20)	2,745	3,233	-			-	Taxes collectable	9,415	10,324	9,415			11,323
Other receivables	21,373	18,528	23,032			19,359	Advances from customers (Note 5)	118,389	105,570	118,389			105,701
Derivative financial instruments (Note 18)	-		1,271		-			1,271	Dividends payable	15,782	15,782	15,782			15,782
Total current assets	1,967,436		1,971,077		1,977,013			1,986,036	Other Accounts Payable	3,522		3,942		3,720			4,192
									Total current liabilities	743,541	705,268	745,626			709,533
Noncurrent
Taxes recoverable (Note 7)	137,272	125,423	137,272			125,423	Noncurrent
Related parties (Note 20)	1,370	2,421	-			-	Borrowings, financings and debentures (Note 11)	1,352,646	1,367,056	1,352,646			1,367,056
Investments (Note 21)	8,112	10,667	-			-	Deferred income and social contribution taxes (Note 8)	12,143		11,998		12,143			11,998
Property, plant and equipment (Note 9)	986,984	971,730	988,974			974,124	Total Non-Current Liabilities	1,364,789	1,379,054	1,364,789			1,379,054
Intangible assets	2,416		2,596		2,416			2,596
Total non-current assets	1,136,154	1,112,837	1,128,662			1,102,143	Total liabilities	2,108,330	2,084,322	2,110,415			2,088,587
									Shareholders' equity (Note 12)
									Share capital	815,102	815,102	815,102			815,102
									Capital reserve	1,764	396	1,764			396
									Profit reserve	204,128	202,882	204,128			202,882
									Equity valuation adjustment	(50)	1,531	(50)			1,531
									(-) Treasury Shares	(25,684)		(20,319)		(25,684)			(20,319)
									Total shareholders' equity	995,260	999,592	995,260			999,592
Total assets	3,103,590	3,083,914	3,105,675			3,088,179	Total liabilities and equity	3,103,590	3,083,914	3,105,675			3,088,179

The notes are an integral part of the interim financial information.

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Aeris Indústria e Comércio de Equipamentos para Geração de Energia S.A.

Income Statement

Three-month period ended March 31, 2021

In thousands of Brazilian reais, unless stated otherwise

		Parent Company		Consolidated
		01/01/2022 to		01/01/2021 to		01/01/2022 to	01/01/2021 to
		03/31/2022	03/31/2021	03/31/2022			03/31/2021
Continued operations
Net operating revenue (Note 13)	533,797	668,536	536,763			675,756
Cost of products sold (Note 14)	(493,021)		(603,121)		(496,317)			(608,507)
Gross profit	40,776	65,415	40,446			67,249
Operating revenues (expenses):
Selling, general and administrative expenses (Note 15)	(22,550)	(18,358)	(24,691)			(20,004)
Other operating revenues (expenses), net (Note 16)	21,650	2,335	23,220			2,335
Equity pickup (Note 22)	(974)		-		-			-
Result before financial revenues and expenses	38,902		49,392		38,975			49,580
Financial expenses (Note 17)	(92,213)	(64,340)	(92,291)			(64,570)
Financial Revenues (Note 17)	57,074		41,954		57,079			41,996
		(35,139)		(22,386)		(35,212)			(22,574)
Earnings before income tax and social contribution	3,763		27,006		3,763			27,006
Current income tax and social contribution (Note 8)	(2,371)	(3,777)	(2,371)			(3,777)
Deferred income tax and social contribution (Note 8)	(146)	(185)	(146)			(185)
Net income for the period	1,246	23,044	1,246			23,044
Profit attributable	1,246	23,044	1,246			23,044
to shareholders and controllers	1,246	23,044	1,246			23,044
Number of shares at the end of the period	766,213	766,213	766,213			766,213
ON - Registered common shares	766,213	766,213	766,213			766,213
Basic earnings per share - R$ (Note 24)	0.0016	0.0301	0.0016			0.0301
Diluted earnings per share - R$ (Note 24)	0.0016	0.0301	0.0016			0.0301

The notes are an integral part of the interim financial information.

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