Multiplan Empreendimentos Imobiliarios S A : Quarterly Financial Report 1Q22

Quarterly Information - ITR

Multiplan Empreendimentos Imobiliários S.A.

March 31, 2022 with Independent Auditor's Review Report on Quarterly Information (ITR)

Multiplan Empreendimentos Imobiliários S.A.

Quarterly Information - ITR

March 31, 2022

Contents

Independent Auditor's Review Report on quarterly information (ITR) ................................................... 1

Quarterly Information - ITR

Balance sheet ...................................................................................................................................... 3

Statements of income .......................................................................................................................... 5

Statements of comprehensive income ................................................................................................. 7

Statements of changes in equity - Individual ........................................................................................ 8

Statements of changes in equity - Consolidated ................................................................................... 9

Statements of cash flows ................................................................................................................... 10

Statements of value added ................................................................................................................ 11

Notes to quarterly information ............................................................................................................ 12

Centro Empresarial PB 370

Praia de Botafogo, 370 6º ao 10º andar - Botafogo 22250-040 - Rio de Janeiro - RJ - Brasil Tel: [phone] ey.com.br

A free translation from Portuguese into English of Independent Auditor's Review Report on individual and Consolidated interim financial information prepared in Brazilian currency in accordance with CPC 21 (R1) and

IAS 34 - Interim Financial Reporting and with the rules issued by the Brazilian Securities and Exchange Commission (CVM) applicable to the preparation of Quarterly Information (ITR)

Independent auditor's review report quarterly information (ITR)

The

Shareholders, Board of Directors and Officers

Multiplan Empreendimentos Imobiliários S.A.

Rio de Janeiro - RJ

Introduction

We have reviewed the individual and consolidated interim financial information of Multiplan Empreendimentos Imobiliários S.A. ("Company"), contained in the Quarterly Information Form (ITR) for the quarter ended March 31, 2022, which comprises the balance sheet as at March 31, 2022 and the statements of income, of comprehensive income, of changes in equity and cash flows for the three-month period then ended, and notes to the quarterly information.

Management is responsible for the preparation of the individual and consolidated interim financial information in accordance with NBC TG 21 - Interim Financial Reporting and international standard and IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board (IASB), applicable to real estate development entities in Brazil registered with the Brazilian Securities and Exchange Commission (CVM), as well as for the presentation of this information consistently with the standards issued by the CVM, relating 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 Brazilian and international standards on review engagements (NBC TR 2410 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 the standards on auditing 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.

Uma empresa-membro da Ernst & Young Global Limited

Conclusion on the individual and consolidated interim information

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 real estate development entities in Brazil registered with the Brazilian Securities and Exchange Commission (CVM), presented in conformity with the rules issued by CVM, applicable to the preparation of Quarterly Information - ITR.

Emphasis of matter

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 real estate development entities in Brazil registered with CVM. Accordingly, the determination of the accounting policy adopted by the entity for the recognition of revenue in contracts for the involving purchase and sale of unfinished real estate units on, as regards the aspects related to the transfer of control, follows the understanding of the Company's executive management as to the application of NBC TG 47, in line with that expressed by CVM in its Circular Letter CVM/SNC/SEP No. 02/2018. Our conclusion is not qualified in respect of this matter.

Other matters

Statements of value added

The quarterly information referred to above includes the individual and consolidated statements of value added (SVA) for the three-month period ended March 31, 2022, prepared under the responsibility of the Company's management and presented as supplementary information under IAS 34, applicable to real estate development entities in Brazil, registered with the Brazilian Securities and Exchange Commission ("CVM"). These statements have been subject to review procedures performed in conjunction with the review of the quarterly information, in order to determine whether they are reconciled 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 - Statement 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 in this standard and consistently with the individual and consolidated interim financial information as a whole.

Rio de Janeiro, April 27, 2022.

ERNST & YOUNG

Auditores Independentes S.S. CRC-2SP015199/O-6

Roberto Martorelli

Accountant CRC-1RJ106103/O-0

A free translation from Portuguese into English of quarterly information prepared in Brazilian currency in accordance with CPC 21 (R1) and IAS 34 - Interim Financial Reporting and with the rules issued by the Brazilian Securities and Exchange Commission (CVM) applicable to the preparation of Quarterly Information (ITR)

Multiplan Empreendimentos Imobiliários S.A.

Balance sheet

March 31, 2022 and December 31, 2021 (In thousands of reais - R$)

03/31/2022	12/31/2021
Assets
Current assets
Cash and cash equivalents (Note 3)	271,107	287,124	426,824	553,793
Short term investments (Note 3)	330.393	224,670	467,341	224,670
Accounts receivable (Note 4)	285,917	364,990	443,870	533,846
Land and properties held for sale (Note 6)	3,614	3,818	47,118	66,437
Accounts receivable from related parties (Note 5)	47,561	26,382	60,801	38,849
Recoverable taxes and contributions (Note 16)	60,760	36,838	67,607	43,296
Deferred costs (Note 18)	23,203	27,230	40,300	45,681
Other	18,206	17,873	30,721	28,515
Total current assets	1,040,761	988,925	1,584,582	1,535,087
Non-current assets
Accounts receivable (Note 4)	11,482	12,679	28,842	29,297
Land and properties held for sale (Note 6)	20,083	19,826	478,912	470,114
Accounts receivable from related parties (Note 5)	33,639	35,267	55,952	58,767
Judicial deposits (Note 17.2)	150,278	147,990	160,175	157,088
Deferred income and social contribution taxes (Note 7)	-	-	37,590	21,478
Deferred costs (Note 18)	58,648	58,637	99,174	99,087
Other	2,025	2,028	4,408	4,889
Investments (Note 8)	4,624,549	4,543,398	135,858	139,417
Investment properties (Note 9)	3,924,205	3,922,905	7,682,946	7,673,145
Property and equipment (Note 10)	86,906	87,574	104,363	105,159
Intangible assets (Note 11)	367,121	365,657	370,543	368,932
Total non-current assets	9,278,936	9,195,961	9,158,763	9,127,373
Total assets	10,319,697	10,184,886	10,743,345	10,662,460
3

Consolidated 03/31/2022 12/31/2021

Individual