Afya : 2Q2021 Earnings Presentation

WEBCAST PRESENTATION

3Q21 RESULTS

SAFE HARBOR

FORWARD - LOOKING STATEMENTS

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which statements involve substantial risks and uncertainties. All statements other than statements of historical fact could be deemed forward- looking, including risks and uncertainties related to statements about our competition; our ability to attract, upsell and retain customers; our ability to increase the price of our solutions; our ability to expand our sales and marketing capabilities; general market, political, economic, COVID-19, and business conditions; and our financial targets such as revenue, share count and IFRS and non-IFRS financial measures including gross margin, operating margin, net income (loss) per diluted share, and free cash flow.

We undertake no obligation to update any forward-looking statements made in this presentation to reflect events or circumstances after the date of this presentation or to reflect new information or the occurrence of unanticipated events, except as required by law. The achievement or success of the matters covered by such forward-looking statements involves known and unknown risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make. You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent our management's beliefs and assumptions only as of the date such statements are made. Further information on these and other factors that could affect our financial results is included in filings we make with the Securities and Exchange Commission from time to time, including the section titled "Risk Factors" in our most recent Rule 424(b) prospectus. These documents are available on the SEC Filings section of the investor relations section of our website at: https://ir.afya.com.br/.

01 I

02 I

03 I

WE ARE PROUD OF OUR EXECUTION

CONSISTENT

performance under all scenarios

SUCCESSFUL

business strategy execution

EXCITING

opportunities ahead

04 I COMMITMENT

reflected in all we do

CONSISTENT PERFORMANCE UNDER ALL SCENARIOS

ADJUSTED NET +47.9% YoY, REACHING R$463.3 MM

REVENUE

ADJUSTED +28.2% YoY, REACHING R$191.4 MM

EBITDA

ADJUSTED EBITDA MARGIN 41.3% ADJUSTED NET INCOME R$116.9

CASH POSITION R$1.0 BN

RECORD ADJUSTED OPERATING CASH FLOW GENERATION OF R$557.2 BN 9M21

MEDICAL UNDERGRAD STUDENTS 9M21

+67.0% YoY, WITH OPERATING SEATS GROWING 55.7% IN THE SAME PERIOD

+7.4% YoY MEDICAL AVERAGE TICKET

DIGITAL SERVICES

AFYA'S DIGITAL ECOSYSTEM REACHED 247k MONTHLY ACTIVE USERS

+30% OF ALL BRAZILIAN PHYSICIANS AND MEDICAL STUDENTS

+96% GROWTH ON DIGITAL SERVICES' NET REVENUE

SUCCESSFUL BUSINESS STRATEGY

UNDERGRAD AND DIGITAL SERVICES

MEDICINAE FUNCTIONALITIES INCORPORATED IN ICLINIC iClinic Pay

INTEGRATION AND EXPANSION HIGH MARGINS

JUL

SEP

DEC

MAIS

IPO 2019MÉDICOS UNIDEPFASA

Green Field

Phase 2

DEC

AUG

JUL

MAY

2020

MAIS

UNINOVAFAP

MÉDICOS

MEDCEL

IPEMED

Green Field

I

Phase 2

2021

AUG

FEB

APR

MAY

JUN

OCT

IPEMED

GARANHUNS

UNIREDENTOR

EXPANSION

FCM-PB

FESAR

PEBMED

Green Field

Green Field

Phase 2

TBD

NOV

OCT

MAY

NEW

RX PRO

MEDICINAE +

UNIGRANRIO

ICLINIC +

ACQUISITIONS

CLIQUEFARMA

SHOSP

OCT

UNISL +

JI-PARANÁ

2022

APR

UNIFIPMOC +

FIP GUANAMBI

6 PILLAR STRATEGY PRODUCTS AND SERVICES

MEDPHONE USERS MIGRATION TO WHITEBOOK PLATFORM

CROSS SELLING BETWEEN MEDCEL, WHITEBOOK AND ICLINIC

CUSTOMER DATABASE CONSOLIDATION INTO A SINGLE DATALAKE