ISP Brazil Limited acquired International School Centro de Educação Ltda from Bahema Educação S.A. (BOVESPA:BAHI3) for BRL 37.4 million on October 31, 2023. The remaining 0.71 million shares held by Bahema are subject to put and call options, granted in favor of Bahema and ISP respectively, exercisable for a period of 6 months from December 1, 2023 which, if and when exercised, will result in the sale, by Bahema, of all its shares in BIS to ISP. In this case, the base price agreed for such shares representing the capital stock of BIS is BRL 78.4 million, an amount that will be corrected by the CDI until the eventual exercise of the options. The Transaction complied with all applicable governance criteria, having been duly approved by the Company's Board of Directors on October 30, 2023. The Transaction is not subject to approval at the General Meeting or approval by the Administrative Council for Economic Defense (CADE), nor to any other precedent conditions, and the sale of 160,232 shares representing the capital stock of BIS was consummated on this date. Monica de Castro Pereira P. Cavalcanti and Bruno Dreifus of Baker & McKenzie Madrid S.L. acted as a legal advisor to International School Centro de Educação Ltda.

ISP Brazil Limited completed the acquisition of International School Centro de Educação Ltda from Bahema Educação S.A. (BOVESPA:BAHI3) on October 31, 2023.