Earnings Release 3Q21

3Q21 Results

• Net Revenue of R$303 million in 9M21, 27% higher than in 9M20;
• Adjusted Gross Profit of R$87 million in 9M21, 44% higher than in 9M20;
• Adjusted Gross Margin of 29% in 9M21, expanding 3.4 p.p. from 9M20;
• Net Income of R$11.4 million in 9M21, 205% higher than in 9M20;
• Backlog Revenue of R$431 million in 3Q21, up 162% on 3Q20, with backlog margin of 27%;
• General & Administrative Expenses of R$29 million in 9M21, down 12% from 9M20;
• In 3Q21, Inventory at market value stood at R$641 million, down 18% from 2Q21.

Investor

Relations

Results Conference:

November 11, 9:00 EST

Webcast:Click here

Phone: [phone]

Carlos Bianconi

CEO & IRO

Henrique Ravazzi

IR Manager

E-mail: [e-mail]: (17) 2137-1874 WhatsApp: [phone]

São José do Rio Preto, November 10, 2021: RNI (B3: RDNI3), a real estate developer and builder, announces today its audited results for the third quarter of 2021. The following financial and operating information is presented on a consolidated basis in accordance with generally accepted accounting practices in Brazil based on Brazilian Corporation Law, International Financial Reporting Standards (IFRS) and the rules issued by the Brazilian Accounting Pronouncements Committee (CPC).

Main Consolidated Indicators

3Q21 Earnings Release

CONTENTS
MESSAGE FROM MANAGEMENT ...............................................................................................................	2
CONSOLIDATED OPERATING & FINANCIAL HIGHLIGHTS ...............................................................................	3
Casa Verde e Amarela Program (Vertical and Horizontal) and SBPE Horizontal Projects ..................................	4
LAUNCHES - PCVA-SBPE.H ...............................................................................................................................	4
CONTRACTED SALES - PCVA-SBPE.H .................................................................................................................	4
INVENTORY AND LANDBANK - PCVA-SBPE.H .....................................................................................................	6
Revenue and Gross Profit - PCVA-SBPE.H ..........................................................................................................	8
Selling, General and Administrative Expenses - PCVA-SBPE.H ..............................................................................	8
Net Income (Loss) - PCVA-SBPE.H .....................................................................................................................	8
Backlog Revenue (REF) - PCVA-SBPE.H ..............................................................................................................	8
Analysis - SBPE.V Product and Subdivision SBPE Vertical and Subdivision Projects ..........................................	9
LAUNCHES - SBPE.V and Subdivision .................................................................................................................	9
CONTRACTED SALES - SBPE.V and Subdivision .................................................................................................	10
Inventory and Landbank - SBPE.V and Subdivision ...........................................................................................	11
Revenue and Gross Profit - SBPE.V and Subdivision..........................................................................................	12
Selling, General and Administrative Expenses - SBPE.V and Subdivision .............................................................	12
Net Income (Loss) - SBPE.V and Subdivision ....................................................................................................	12
Backlog Revenue (REF) - SBPE.V and Subdivision .............................................................................................	12
Consolidated RNI ...................................................................................................................................	13
Projects Delivered ..................................................................................................................................	13
Transfer to Banks of Client Balances / Off-PlanProperties..........................................................................	13
BALANCE SHEET: Main items...................................................................................................................	14
Trade Accounts Receivable .....................................................................................................................	14
Cash and Debt .......................................................................................................................................	15
Consolidated Balance Sheet ....................................................................................................................	17
Consolidated Statement of Income..........................................................................................................	17
Consolidated Cash Flow Statement ..........................................................................................................	19

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3Q21 Earnings Release

MESSAGE FROM MANAGEMENT

The third quarter of 2021 marked another quarter of progress in our financial and operational indicators that further confirms the success of our current strategy, which consists of offering products in bands 2 and 3 of the Casa Verde e Amarela Program, a middle-income offering via our SBPE-Horizontal products, as well as projects in strategic regions dedicated to agribusiness and distant from major centers, which leverages the positive performance delivered quarter after quarter.

In 9M21, we reached the mark of R$480 million in potential sales value (PSV) launched, 84% of which is concentrated in PCVA (Horizontal and Vertical) and SBPE-horizontal products, representing the best result for the same period of the last six years.

Gross Sales amounted to R$620 million, 21% higher than 9M20, while Net Sales came to R$481 million, increasing 26% from 9M20, with these numbers also surpassing the results of the last six years for the same period.

Net Revenue came to R$303 million in 9M21, 27% higher than in 9M20, while Net Revenue in 3Q21 was R$120 million, 71% higher than in 3Q20. Adjusted Gross Profit came to R$87 million in 9M21, 44% higher than in 9M20, while Adjusted Gross Margin stood at 28% in the same period, 3,4 p.p. higher than in 9M20.

We also reported Net Income of R$11.4 million in 9M21, up 205% from 9M20, which also was the best result of the last 6 years. This recovery in the company's income statement was due to the various advances in operational and financial aspects, not to mention the growth in the volume and quality of sales, the strong pace of construction projects, the rigorous control of expenses and costs and the liability management actions.

Lastly, we remain optimistic on the recovery of Brazil's macroeconomic scenario, on the recovery of the construction industry and, most importantly, on RNI's potential to grow and develop values. We are aware of the challenges facing the industry with regards to inflationary pressures on construction costs (measured by the INCC) and the gradual hike in interest rates (which still remain historically low) being carried out by the Brazilian central bank. However, we are confident that these are temporary events and should not alter the appetite for real estate.

The Management - RNI Negócios Imobiliários S.A.

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3Q21 Earnings Release

CONSOLIDATED OPERATING & FINANCIAL HIGHLIGHTS

The complete consolidated financial statements for 3Q21, accompanied by the respective notes, can be found in the Quarterly Information (ITR) document, which is available on our Investor Relations website (ri.rni.com.br) and on the website of the Securities and Exchange Commission of Brazil - CVM (www.cvm.gov.br).

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3Q21 Earnings Release

Analysis - PCVA-SBPE.H Product

Casa Verde e Amarela Program (Vertical and Horizontal) and SBPE Horizontal Projects

LAUNCHES - PCVA-SBPE.H

This quarter, the Company did not launch any projects for products in the Casa Verde e Amarela and SBPE-horizontal programs, as already expected. The goal was to dedicate efforts to selling the inventory of projects already launched to monetize the portfolio.

Even without any launches of these products, RNI delivered its best result of the last six years in terms of PSV launched, which amounted to R$401 million in 9M21, 78% higher than in 9M20.

Meanwhile, launches in the last 12 months (LTM) came to R$642 million in 3Q21, advancing 35% on the prior-year period.

Launches

PSV 100% - R$ million.

Launches - 12 months

PSV 100% - R$ million.

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