GP Investments : HYFR

GP Investments, Ltd.

Consolidated interim financial information for the period ended June 30, 2023

Contents

Management Report	03
Independent auditors' report on the consolidated interim financial information	06
Consolidated balance sheet	08
Consolidated statement of comprehensive income (loss)	09
Consolidated statement of changes	11
Consolidated statement of cash flows ‐ Indirect method	13
Notes to the consolidated interim financial information	15

2

GP Investments

Second Quarter of 2023

Earnings Release

3

2Q23 Highlights

August 14, 2023 - GP Investments, Ltd. ("GP") [B3: GPIV33] reports its results for the 2nd quarter of 2023.

GP recorded a net loss of USD 2.5 million in Q2 2023, and the company's Net Asset Value ("NAV") at the end of the period was USD 223.5 million.

The main events in Q2 2023 were:

BR Properties: In April, Slabs Investimentos, Ltda., a subsidiary of GP, successfully concluded a Voluntary Tender Offer, and at the end of the second quarter, GP through Slabs held 96% of BR Properties' share capital.

Spice PE: In April, the tender offer process was completed, and Spice PE shares ceased trading on the SIX Swiss Exchange on April 19, 2023.

G2D Results: The company recorded a net profit of USD 0.5 million in Q2 2023, and G2D's NAV at the end of the quarter was USD 169.9 million.

GP Investments - Portfolio Overview

GP Investments' Portfolio

G2D's Portfolio

GP Investments

4

Net Asset Value (NAV)

The table below exhibits GP Investments' NAV composition as of June 2023, determined by the proportional stake in Spice and G2D investments:

Value of Investments (in USD million)	GP	G2D	GP + G2D
Equity Portfolio	293.6	180.0	473.5
Publicly Traded Companies	192.8	-	192.8
BR Properties¹	148.5	-	148.5
Centauro²	41.1	-	41.1
BRPR Corporate Offices²	3.2	-	3.2
Privately-Held Companies	100.8	180.0	280.8
Akad		35.0	-	35.0
Bravo Brio + VDC	32.5	-	32.5
2TM		15.3	-	15.3
Legacy Portfolio	14.1	-	14.1
Real Estate Investments³	3.9	-	3.9
G2D Investments' Portfolio	-	180.0	180.0
Assets and Liabilities	(154.0)	(96.1)	(250.1)
Cash and Cash Equivalents	29.3	10.9	40.2
Financial Investments	15.5	-	15.5
Loans and Receivables	23.6	-	23.6
Other Assets	27.4	0.1	27.5
Liabilities	4	(239.8)	(21.1)	(260.9)
Minority Interest	(10.1)	(86.0)	(96.0)
NAV (Shareholders' Equity)	139.5	83.9	223.5

1. The value of the investment is based on the company's acquisition cost of the company valued at the exchange rate of 30/06/2023 of 4.8192 BRL/USD.
2. The value of the investment is based on the company's market capitalization on June 30, 2023.
3. Value of the investment is based on the acquisition value for some of the fund's projects, and on DCF methodology for others, according to GPRE's Policies as described in the 1Q13 Earnings Release - both being adjusted by the exchange rate of June 30, 2023.
4. On 30/06/2023, GP's debt was composed of perpetual bonds with a balance of USD 74.8M and a loan at Slabs level with a balance of USD 150.5M.

NAV Change Breakdown

(In USD million)

224.3 1.1

18.1

(10.0)

0.2 (4.1)

(6.7)	223.5
(0.3)	0.8

NAV 1Q23 Management	Changes	Net Realized	G2D's Net	Expenses Net Financial Intercompany	Others	NAV 2Q23
Fee	in FMV	Loss	Income	Results	Mgmt. Fee

As of June 30, 2023, the total net asset value of GP Investments stood at USD 223.5 million.

Investor Relations

Rodrigo Boscolo, CFO and Investor Relations Officer

Eduardo Coutinho, Investor Relations Manager

[phone]

[e-mail]

5

GP Investments

Notes: The GP Investments business review report presents unaudited managerial results; Proportional balance sheet consolidates financial accounts of GP's subsidiaries, excluding minority interests.