Multiplan Empreendimentos Imobiliarios S A : Earnings Release 1Q23

1Q23

Earnings Report

Contact the Investor Relations Team at:

ri.multiplan.com.br

[e-mail][phone]

1Q23

Disclaimer

Legal Notice

This document may contain prospective statements and goals, which are subject to risks and uncertainties as they are based on expectations of the Company's management and on available information. The Company is under no obligation to update these statements. The words "anticipate", "wish", "expect", "foresee", "intend", "plan", "predict", "forecast", "aim" and similar words are intended to identify these statements.

The Company clarifies that it does not disclose projections and/or estimates under the terms of article 21 of CVM Resolution 80/22 and, therefore, eventual forward-looking statements do not represent any guidance or promise of future performance.

Forward-looking statements refer to future events that may or may not occur. Our future financial situation, operating results, market share and competitive position may differ substantially from those expressed or suggested by these forward- looking statements. Many factors and values that may impact these results are beyond the Company's ability to control. The reader/investor should not make a decision to invest in Multiplan shares based exclusively on the data disclosed in this presentation.

This document also contains information on future projects which could differ materially due to market conditions, changes in laws or government policies, changes in operational conditions and costs, changes in project schedules, operating performance, demands by tenants and consumers, commercial negotiations or other technical and economic factors. These projects may be altered in part or totally by the Company with no prior warning.

External auditors have not reviewed non- accounting information. In this report the Company has chosen to present the consolidated data from a managerial perspective, in line with the accounting practices excluding the CPC 19 (R2).

For more detailed information, please check our Financial Statements, Reference Form (Formulário de Referência) and other relevant information on our investor relations website ir.multiplan.com.br.

Unsponsored depositary

receipt programs

It has come to the attention of the Company that foreign banks have launched or intend to launch unsponsored depositary receipt programs, in the USA or in other countries, based on shares of the Company (the "Unsponsored Programs"), taking advantage of the fact that the Company's reports are usually published in English.

The Company, however, (i) is not involved in the Unsponsored Programs, (ii) ignores the terms and conditions of the Unsponsored Programs, (iii) has no relationship with potential investors in connection with the Unsponsored Programs, (iv) has not consented to the Unsponsored Programs in any way and assumes no responsibility in connection therewith. Moreover, the Company alerts that its financial statements are translated and also published in English solely in order to comply with Brazilian regulations, notably the requirement contained in item 6.2 of the Level 2 Corporate Governance Listing Rules of B3 S.A. - Brasil, Bolsa, Balcão, which is the market listing segment where the shares of the Company are listed and traded.

Although published in English, the Company's financial statements are prepared in accordance with Brazilian legislation, following Brazilian Generally Accepted Accounting Principles (BR GAAP), which may differ to the generally accepted accounting principles adopted in other countries. Finally, the Company draws the attention of potential investors to Article 51 of its bylaws, which expressly provides, in summary, that any dispute or controversy which may arise amongst the Company, its shareholders, board members, officers and members of the Fiscal Council (Conselho Fiscal) related to matters contemplated in such provision must be submitted to arbitration before the Câmara de Arbitragem do Mercado, in Brazil.

Therefore, in choosing to invest in any Unsponsored Program, the investor does so at its own risk and will also be subject to the provisions of Article 51 of the Company's bylaws.

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1Q23

Disclaimer

Managerial Report

During fiscal year 2012, the Accounting Standards Committee (CPC) issued pronouncements that impacted the Company's activities and its subsidiaries including, among others, CPC 19 (R2)

• Joint business.

This pronouncement was implemented for fiscal years starting January 1, 2013. The pronouncement determines joint projects to be recorded on the financial statements via equity pick-up, among other issues. Therefore, the Company does not consolidate the 50% stake in Parque Shopping Maceió S.A., a company that has a 100% ownership interest in the shopping center of the same name. This report adopted the managerial information format and, for this reason, does not consider the requirements of CPC 19 (R2) to be applicable. Thus, the information and/or performance analysis presented herein include the proportional consolidation of Parque Shopping Maceió S.A.. For additional information, please refer to note 8.4 of the Financial Report dated March 31, 2023.

Multiplan is presenting its quarterly results in a managerial format to provide the reader with a more complete perspective on operational data. Please refer to the Company's financial statements on its website (ir.multiplan.com.br) to access the Financial Statements in compliance with the CPC.

Please see on page 57 of this report the changes according to the Technical Pronouncement CPC 19 (R2), and the reconciliation of the accounting and managerial numbers.

VillageMall

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1Q23

Tableofcontents

1. Overview
2. Highlights

9 Digital Innovation

12 ESG

1. Awards and recognition
2. MULT3 in the Stock Market

1. Consolidated Financial Statements
2. Operational Indicators

1. Gross Revenue
2. Property Ownership Results

1. Portfolio Management Results
2. Real Estate for Sale Results

1. Financial Results

1. Capex
2. Case Study - DiamondMall, acquisition leading to growth opportunities

1. Investment Properties Analysis

1. Portfolio of Assets

1. Ownership Structure

1. Appendix

1. Glossary and Acronyms

1Q23

Index

Overview

Multiplan Empreendimentos Imobiliários S.A. is one of Brazil's leading shopping center operating companies, established as a full-service company that plans, develops, owns and manages one of the largest and highest-quality mall portfolios in the country.

The Company also is strategically active in the residential and commercial real estate development sectors, generating synergies for its shopping centers by creating mixed-use projects in adjacent areas.

At the end of 1Q23, Multiplan owned and managed 20 shopping centers comprising a total GLA of 875,836 sq.m., with an 80.6% average ownership interest, encompassing around 6,000 stores and estimated annual traffic of 190 million visitors (in 2019).

Moreover, Multiplan owns - with an average stake of 92.1% - two corporate complexes with total GLA of 50,582 sq.m, leading to a total portfolio GLA of 926,418 sq.m.

LONG-TERM FINANCIAL EVOLUTION (R$ Million)

Gross Revenue	NOI	EBITDA	FFO	Net Income
2,020	1,621	1,342		1,083

805

369		212		175		56	21
2007	Mar-23	2007	Mar-23	2007	Mar-23	2007	Mar-23 2007	Mar-23
	(LTM)		(LTM)		(LTM)		(LTM)	(LTM)

R$ Million

2007										Mar-23	Chg.	CAGR
(IPO)¹	2008	2009 2010	2011 2012	2013 2014	2015 2016	2017 2018	2019	2020 2021	2022	(LTM)	'07-	'07-
											'22	'22

Gross

Revenue

NOI

EBITDA¹

FFO¹

Net Income¹

368.8	452.9	534.4	662.6	742.2	1,048.0	1,074.6	1,245.0	1,205.2	1,257.5	1,306.2	1,378.9	1,460.2	1,995.1	1,404.5	1,975.1	2,019.9
212.1	283.1	359.4	424.8	510.8	606.9	691.3	846.1	934.8	964.6	1,045.5	1,138.1	1,201.2	953.4	1,118.9	1,561,2	1,621.5
175.1	247.2	304.0	350.2	455.3	615.8	610.7	793.7	789.2	818.3	825.5	946.9	932.1	1,377.1	810.8	1,280.1	1,342.4
56.1	112.5	266.6	363.0	414.6	501.0	421.0	543.7	522.8	487.7	561.3	707.4	703.4	1,047.0	702.0	1,032.5	1,082.9
21.2	74.0	163.3	218.4	298.2	388.1	284.6	368.1	362.2	311.9	369.4	472.9	471.0	964.2	453.1	769.3	804.9

+435.6%	+11.8%
+636.1%	+14.2%
+631.0%	+14.2%
+1,740.5%	+21.4%
+3,536.0%	+27.1%

• 2007's results were calculated in accordance with current methodology. For more details, please access the Company's
  Fundamentals Spreadsheet.

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