Positivo Tecnologia S A : 4Q21 Results03/22/2022

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CONFERENCE CALL

MARCH 23, 2022

10:30 AM (BRAZIL) 9:30 AM (US-EST)

ri.positivotecnologia.com.br

MARCH 22, 2022

4Q 2021

Webcast in Portuguese

The Conference Call will be held by webcast, in Portuguese, with simultaneous translation into English.

4Q21 EARNINGS RELEASE

Curitiba, March 22, 2022 - Positivo Tecnologia S.A. ("Positivo Tecnologia" or "Company"; B3: POSI3), one of Latin America's largest developers and manufacturers of hardware-based technology, announces its results for the fourth quarter of 2021 ("4Q21"). The financial information below, except where indicated, complies with IFRS (International Financial Reporting Standards). Balance in Brazilian Reais (R$).

POSITIVO TECNOLOGIA ATTAINS RECORD

REVENUE (R$4 BILLION, +54% VS. 2020)

AND EBITDA (R$345 MILLION, +112% VS. 2020)

• Record Gross Revenue reached R$4 billion in the year, strong growth for the second consecutive year: +54% vs. 2020 and +79% vs. 2019.
• Annual EBITDA reaching R$345 million: +112% vs 2020 and +145% vs 2019.
• Recurring Net Income reaching R$203 million in the year, +255% vs. 2020 and +873% vs. 2019.
• Diversified revenues and matured growth avenues, with more representation of the payment solutions and services segments in the Corporate Unit, reaffirming the change in the portfolio mix and increased profitability in the year.
• Debt extension and greater participation in the capital market through the issuance of debentures in the amount of R$350 million in February/22.
• Upgraded the corporate rating by the agencies S&P and Fitch Ratings.
• The Company's shares (POSI3) were listed at IBOV in January 2022, reflecting the increase in the share's liquidity in the last 12 months.

4Q21 EARNINGS RELEASE

FINANCIAL HIGHLIGHTS OF THE PERIOD

		4Q21	4Q20	Var.	2021	2020			Var.	2019	Var.
(R$ thousand)
Gross Revenue		1,258,141		1,050,431	19.8%			3,986,579			2,585,440		54.2%		2,227,687	79.0%
Net Revenue		1,074,331		886,519	21.2%			3,365,487			2,192,173		53.5%		1,915,308	75.7%
Gross Profit		210,340		206,563	1.8%			768,606			448,746		71.3%		480,108	60.1%
Gross Margin		19.6%		23.3%	-3.7 p.p.			22.8%			20.5%			2.4 p.p.	25.1%	-2.2 p.p.
EBITDA		92,263		251,192	(63.3%)			342,035			323,778		5.6%		143,189	138.9%
EBITDA Margin		8.6%		28.3%	-19.7 p.p.			10.2%			14.8%			-4.6 p.p.	7.5%	2.7 p.p.
Recurring EBITDA2		92,263		95,015	(2.9%)			344,870			162,474		112.3%		140,789	145.0%
Recurring EBITDA Mg.		8.6%		10.7%	-2.1 p.p.			10.2%			7.4%			2.8 p.p.	7.4%	2.9 p.p.
Net Income		41,854		149,761	(72.1%)			202,896			195,842		3.6%		20,848	873.2%
Net Margin				16.9%	-13.0 p.p.									-2.9 p.p.	1.1%	4.9 p.p.
	3.9%				6.0%			8.9%
Recurring Net Income2		41,854		11,027	279.6%			202,896			57,108		255.3%		20,848	873.2%
Recurring Net Margin		3.9%		1.2%	2.7 p.p.			6.0%			2.6%			3.4 p.p.	1.1%	4.9 p.p.
Net Indebtedness / EBITDA		1.6x		1.3x	0.3x			1.6x			1.3x			0.3x			1.9x	-0.3x
LTM3

1) Does not include non-recurring items non-cash items (such as currency hedging of raw materials and inputs) and includes

results from equity income. Adjustment in 4Q20 for tax credits from lawsuit linked to the unconstitutionality of the inclusion of the current ICMS in the PIS and COFINS calculation basis.

1. As described in the notes to the 2020 Financial Statements, the results for 4Q20 and 2020 were positively impacted by tax aspects, which result from combining tax credits from lawsuits linked to the unconstitutionality of including the ICMS in the tax base calculation of PIS and COFINS, the settlement of administrative proceedings in disputes linked to ISS and the adoption of accounting procedures linked to deferred taxes.
2. LTM EBITDA: R$344.9 million in 4Q21 and R$162.5 million in 4Q20.

Largest developer and manufacturer of hardware- based technology in Brazil

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4Q21 EARNINGS RELEASE

MESSAGE FROM THE MANAGEMENT

If we can choose a single word for 2021, it would be "diversification". Positivo Tecnologia has never been so diversified, both in products and related segments, reflected in the strong results delivered each quarter. We are proud to say that we are again a growth company, based on years of experience developing hardware technology and a team dedicated to always delivering the best products and services to our customers.

Thus, we ended 2021 with an operational result even higher than in 2020, which shows the success of the strategy adopted and advancing in the transformation and diversification process of Positivo Tecnologia's revenues. The continued strong demand for hardware and services in all the Company's operating segments and the maturation of our 'Growth Avenues' allowed us to end the period with record revenues totaling R$4 billion, up by 54% over the last twelve months. Attentive to the market's needs and opportunities, innovation and dexterity made revenue diversification part of the Company's daily routine, becoming important growth vectors.

Despite all challenges during the year, such as logistics and shortages in supplies, due to the global Covid-19 pandemic, we continued to grow and improve our profitability, ending 2021 with recurring EBITDA totaling R$345 million, up by 112% YoY, and Recurring Net Income totaling R$203 million, up by 255% in twelve months.

In the Consumer Business Unit, we made important advances throughout the year, such as the partnership to manufacture laptops under the Compaq brand and the partnership with Transsion Holding to sell Infinix smartphones in Brazil, a sales hit at its launch. At Casa Inteligente, we continued to increase our customer base and build important corporate partnerships, thus strengthening the brand's penetration in the market.

An important milestone in 2021 was the growth of the Corporate Business Unit, increasing its share of our revenue. We had record equipment sales, both for large corporations and small and medium- sized companies, and we also increased our market share in this segment. The HaaS (Hardware as Service) business has achieved unprecedented demand and already represents around 40% of sales revenue for large companies. Also noteworthy was the R-HaaS, with sales and rental of used and refurbished equipment, which gained traction throughout the year and represents an important contribution to promoting the culture of the circular economy.

Another Growth Avenue worth highlighting in the year is Payment Solutions. With the end of the exclusivity period with Cielo, we started to gain scale in Smart Payment Solutions, serving a significant addressable market that encompasses all acquirers and sub-acquirers in the country. In November, we announced a partnership with Nexgo to produce and supply new POS models aimed at companies of all sizes, reinforcing our position in this market and expanding our ability to generate business.

In Public Institutions Unit, we continued with growing results, delivering up to December a Gross Revenue 134% higher than the same period of the previous year. Regarding the projects already won (contracted and to be contracted), we totaled more than R$2.0 billion for the coming periods (excluding the electronic ballot boxes that will be delivered in 2022), in addition to recognizing a very heated pipeline in new bids to be disputed by the sector. Also, in December, we won a new bid

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4Q21 EARNINGS RELEASE

to supply another 176,000 electronic ballot boxes for the 2024 elections.

Additionally, we are very happy to announce that our Public Meeting with Analysts and Investors (Investor Day) was among the top 10 best-rated meetings by investment analysts (APIMEC Brasil) in 2021. This award recognizes the companies that best communicated with the market and rewards the effort and dedication of our Investor Relations team to bring the Company and its executives closer to investors, shareholders, analysts and other stakeholders. This progress of the Company's results, combined with strong governance and proactive communication with the market, led to higher liquidity of our shares throughout the year and we became listed on the IBOV index in January this year.

We start 2022 with the activities on a new Growth Avenue, Positivo Tech Services, which provides advanced support to public organizations and companies throughout Brazil, with technical support for computers, laptops and tablets of all market brands. The Company is the only 100% Brazilian company to offer this service besides its brands, something unprecedented in the country.

We remain confident about 2022 and the coming years, and the reason for this optimism is mainly due to the revenue expansion in the Corporate segment. Combined with the strong pipeline in Public Institutions and more Growth Avenues, we can more than offset the drop estimated by the IDC in the Consumer Computers market, around 10 to 15% in volume (Brazil) for 2022.

We continue to work on building strong foundations to remain one of Brazil's leading companies in hardware technology, and, once again, we thank our employees, shareholders, investors, customers and partners for their trust.

THE MANAGEMENT

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