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    DIRR3   BRDIRRACNOR0

DIRECIONAL ENGENHARIA S.A.

(DIRR3)
  Report
Delayed Bolsa de Valores de Sao Paulo  -  05/20 04:07:50 pm EDT
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Direcional Engenharia S A : Dados Econômico-Financeiros

11/22/2021 | 12:25pm EDT

Quarterly Information (ITR)

Direcional Engenharia S.A.

September 30, 2021

with Independent Auditor's Review Report

Direcional Engenharia S.A.

Interim financial information

September 30, 2021

Contents

Independent auditor's review report on interim financial information

....................................................1

Interim financial information

Statements of financial position............................................................................................................

4

Statements of profit or loss ..................................................................................................................

6

Statements of comprehensive income .................................................................................................

7

Statements of changes in equity ..........................................................................................................

8

Statements of cash flows .....................................................................................................................

9

Statements of value added ................................................................................................................

11

Notes to interim financial information .................................................................................................

12

Edifício Phelps Offices Towers

Rua Antônio de Albuquerque, 156

10º andar - Savassi

30112-010 - Belo Horizonte - MG - Brazil

A free translation from Portuguese into English of Independent Auditor's Review Report on interim financial information prepared in Brazilian currency in accordance with NBC TG 21 and IAS 34 applicable to the preparation of Quarterly Information (ITR)Tel: and with+55 31the3232rules-2100issued by the Brazilian Securities and Exchange Commission (CVM)

Fax:

+55 31 3232-2106

Independent auditor'sey.com.reviewbr report on interim financial information

To the Shareholders, Board of Directors and Officers of

Direcional Engenharia S.A.

Belo Horizonte, Minas Gerais (MG)

Introduction

We have reviewed the individual and consolidated interim financial information of Direcional Engenharia S.A. (the "Company") contained in the Quarterly Information Form (ITR), for the quarter ended September 30, 2021, which comprises the statement of financial position as at September 30, 2021 and the statements of profit or loss and of comprehensive income for the three and nine-month periods then ended, and the statements of changes in equity and of cash flows for the nine-month period then ended, including explanatory information.

Management is responsible for the preparation of the individual and consolidated interim financial information in accordance with Brazilian Accounting Standard NBC TG 21 - Interim Financial Reporting and with IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board (IASB), applicable to Brazilian real estate development entities registered with the Brazilian Securities and Exchange Commission (CVM), as well as for the fair presentation of this information in accordance with the rules issued by the CVM applicable to the preparation of Quarterly Information (ITR). Our responsibility is to express a conclusion on this interim financial information based on our review.

Scope of review

We conducted our review in accordance with the Brazilian and International Standards on Review Engagements (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 financial 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 auditing standards and consequently does 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.

1

A member firm of Ernst & Young Global Limited

Conclusion on the individual and consolidated interim financial information prepared in accordance with the accounting practices adopted in Brazil and with the International Financial Reporting Standards (IFRS) applicable to Brazilian real estate development entities registered with the CVM

Based on our review, nothing has come to our attention that causes us to believe that the individual and consolidated interim financial information included in the quarterly information referred to above was not prepared, in all material respects, in accordance with NBC TG 21 and IAS 34 applicable to Brazilian real estate development entities registered with the CVM, and presented consistently with the rules issued by the CVM applicable to Quarterly Information (ITR).

Emphasis of matter

Revenue recognition in purchase and sale contracts for real estate units under construction

As described in Note 2, the individual and consolidated interim financial information contained in the Quarterly Information Form (ITR) was prepared in accordance with NBC TG 21 and IAS 34, applicable to Brazilian real estate development entities registered with the CVM. Accordingly, the determination of the accounting policy adopted by the Company for recognition of revenue in contracts for the purchase and sale of real estate units under construction, on the aspects related to transfer of control, follows the Company management's understanding as to application of NBC TG 47, aligned with CVM's determination expressed in CVM/SNC/SEP Memorandum Circular No. 02/2018. Our conclusion is not qualified in respect of this matter.

2

Other matters

Statements of value added

The quarterly information referred to above includes the individual and consolidated Statements of Value Added (SVA) for the nine-month period ended September 30, 2021, prepared under the responsibility of Company management and presented as supplementary information for IAS 34 purposes applicable to Brazilian real estate development entities registered with the CVM. These statements have been subject to review procedures performed in conjunction with the review of quarterly information, to conclude whether they are prepared consistently with the interim financial information and accounting records, as applicable, and whether their form and content are in accordance with the criteria defined in NBC TG 09 - Statements of Value Added. Based on our review, nothing has come to our attention that causes us to believe that these statements of value added were not prepared, in all material respects, in accordance with the criteria set forth by this Standard and consistently with the individual and consolidated interim financial information taken as a whole.

Belo Horizonte, November 8, 2021.

ERNST & YOUNG

Auditores Independentes S.S.

CRC-2SP015199/O-6

Rogério Xavier Magalhães

Contador CRC-1MG080613/O-1

3

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Disclaimer

Direcional Engenharia SA published this content on 22 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 November 2021 17:24:06 UTC.


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Net income 2022 238 M 48,9 M 48,9 M
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