T4F Entretenimento S A : 4Q22 Conference Call Transcription

Conference Call Transcript

4Q22 Earning Release

T4F (BZ SHOW3)

March 22nd, 2022

INTRODUCTION - FERNANDO ALTERIO

Good morning, everyone. Welcome to our conference call for the year 2022.

This period marked the live entertainment return in Brazil, now with no restrictions due to the COVID-19 pandemic. We can now leave behind what was the most challenging period, both in the history of our Company and our market. We do it with a more resilient and flexible company, with healthier and more recurring margins.

During this year, we delivered events that had been cancelled in 2020, carrying part of their costs for this year. Thus, in addition to the positive EBITDA, reversing negative results in the previous years, we closed 2022 with a cleaner balance sheet and a more comfortable cash and debt structure.

This year's EBITDA was R$ 40.2 million, while in 2021 it was negative by R$ 54.1 million and in 2019, the last year before the pandemic, it had also been negative, in this case by R$ 22 million. This demonstrates the return obtained by the change in positioning that we promoted in the last three years to turn the company structure lighter. When quarterly analysed, we see that 4Q22 was lower than the previous ones, reflecting the lower number of events in the period, but even so, the recurring portion generated by ticket and theatre operations in Brazil and Argentina sustained the positive result.

Gross Cash at the end of the year was R$ 185 million, against R$ 229 million at the end of 2021, but we highlight that at the end of last year we carried tickets and sponsorships received since 2019, for events that we delivered during the year 2022. A reflection of this can be seen in Net Cash, which ended the year at R$ 93.6 million, a small change from the R$ 95.8 million recorded one year ago. This means that our indebtedness reduced from 58% of Gross Cash to 49%.

The Family and Theater events were important this year, with the great success of the musical The Addams Family, which ran until August, being replaced by Anastasia. Additionally, we took our first steps into immersive experiences.

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Conference Call Transcript

4Q22 Earning Release

T4F (BZ SHOW3)

March 22nd, 2022

We continue to develop our Festival Platform, with the first edition of Turá, in July, and the return of Popload in October. In the fourth quarter we also went on sales for Festival Grls! 2023, held on March 4th and 5th.

We promoted several indoor shows throughout the year, with emphasis on Maria Bethânia, Billy Idol and Jessie J. At the outdoor shows, after the cancellation of Justin Bieber's performances, the tickets for the two shows of Paramore in São Paulo were sold out, as well as the ones in Rio de Janeiro, Buenos Aires, Santiago and Bogotá, held between March 5th and 14th this year.

I'll come back to talk about the upcoming events at the end of our presentation. Now Diego, our Investor Relations Officer, will detail the financial and operating results for the period.

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Conference Call Transcript

4Q22 Earning Release

T4F (BZ SHOW3)

March 22nd, 2022

CONCLUSION - FERNANDO ALTERIO

Thank you, Diego.

I would like to invite everyone to move on to the last slide, where we will talk about the events already announced for the coming months.

In the next days we will have the 10th edition of Lollapalooza Brasil, with Drake, Billie Eilish, Twenty One Pilots, Tame Impala, Rosalía and Lil Nas X as headliners. Despite the cancellation of blink182's presentation, due to a health issue of drummer Travis Baker, the box office is within expectations, making this another historic edition.

Still in March, we had the second edition of Festival Grls!. With a 100% female line-up, the festival was created to amplify the work of women, not only in our industry, but also in our society. In addition, we had Paramore concerts, sold out in four countries, and a single concert by The Black Crowes, which was a success of public. For the coming months, we highlight the return of Turá, whose second edition will be held in June.

The musical Anastasia will continue until the beginning of May. In addition, we will keep exploring the segment of immersive experiences, this time with Avengers S.T.A.T.I.O.N.. This content shows the knowledge and cutting-edge science that inspire Marvel Studios productions. Success in several countries where it has been, this attraction will have its debut in May.

The Investor Relations team is now available to answer any questions you may have.

Thank you very much for your attention and I wish you all a great Thursday.

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