Viver Incorporadora e Construtora S A : Demonstrações Financeiras em inglês 2Q21

Viver Incorporadora e Construtora S.A. - Going through Legally-Backed Financial Restructuring

(Free translation from the original issued in Portuguese. In the event of discrepancies, the Portuguese language version prevails).

Company and consolidated interim financial information Together with

The independent auditor's review report

Quarter ended

June 30, 2021

NVS/TG/TP

956i/2021

Viver Incorporadora e Construtora S.A. - Going through legally- backed financial restrustructuring

Company and consolidated interim financial information

Three-month period ended June 30, 2021

Contents

Independent auditors' review report on the Company and consolidated interim
financial information.....................................................................................................	3
Company and consolidated financial statements
Interim financial information.........................................................................................	7
Notes to the Management of Company and consolidated
interim financial information ......................................................................................	13

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Rua Castilho, 392 - 4º Andar

Brooklin - São Paulo - SP

CEP 04568-010

São Paulo - Brasil

T: [phone]

www.bakertillybr.com.br

Independent auditors' review report on the Company and consolidated interim financial information

(Free translation from the original issued in Portuguese. In the event of discrepancies, the Portuguese language version prevails. See Note 31 to the financial information.)

To

Shareholders, Directors and Managers of

Viver Incorporadora e Construtora S.A. - Going through Legally-Backed Financial Restructuring

São Paulo - SP

Introduction

We have reviewed the individual and the consolidated interim financial information, identified as the Company and the consolidated, of Viver Incorporadora e Construtora

S.A. - Going through legally-backedfinancial restructuring ("Company"), contained in the Quarterly Financial Information Form (QFI) for the quarter ended June 30, 2021, which comprise the balance sheet as of June 30, 2021 and the related income statements and statements of comprehensive income for the three- and six-month periods then ended, and changes in equity and cash flows for the six-month period then ended, including a summary of the main accounting policies and other notes.

The Company's management is responsible for preparing the individual and consolidated interim financial information in accordance with Technical Pronouncement CPC 21(R1) - Interim Financial Statement and Statement with the consolidated interim financial information in accordance with Technical Pronouncement CPC 21(R1) and with international standard IAS 34 - Interim Financial Reporting, comprising the understanding expressed by CVM through Official Memorandum/CVM/SNC/SEP No. 02/2018 on the application of NBC TG 47 (IFRS 15) regarding the aspects related to the transfer of control for the recognition of income in the purchase and sale agreements of unfinished real estate units, applicable to the real estate development entities in Brazil, as well as the submission of this information in a manner consistent with the rules issued by the Brazilian Securities and Exchange Commission, applicable to the preparation of the Quarterly financial information (QFI). Our responsibility is to express a conclusion on this interim financial information based on our review.

Scope of the review

We conducted our review in accordance with the Brazilian and international standards for the review of interim information (NBC TR 2410 - Review of Interim Information Performed by the Auditor of the Entity and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim information consists of inquiries, mainly to those in charge of financial and accounting matters, and the application of analytical procedures and other review procedures. The scope of a review is significantly less than that of an audit conducted in accordance with auditing standards, and, therefore, has not enabled us to obtain assurance that we are aware of all material matters which could be identified in an audit. Therefore, we did not express an audit opinion.

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Conclusion on the individual interim financial information

Based on our review, we are not aware of any fact that would lead us to believe that the individual interim financial information included in the quarterly financial information referred to above were not prepared, in all material aspects, in accordance with Technical Pronouncement CPC 21(R1) - Interim financial statement, comprising the understanding expressed by CVM through Official Memorandum/CVM/SNC/SEP No. 02/2018 on the application of NBC TG 47 (IFRS 15) regarding the aspects related to the transfer of control for the recognition of income in the purchase and sale agreements of unfinished real estate units, applicable to the real estate development entities in Brazil, as well as the submission of this financial information in a manner consistent with the rules issued by the Brazilian Securities and Exchange Commission, applicable to the preparation of the Quarterly financial information (QFI).

Conclusion on the consolidated interim financial information

Based on our review, we are not aware of any fact that leads us to believe that the consolidated interim financial information included in the quarterly financial information referred to above were not prepared, in all material aspects, in accordance with Technical Pronouncement CPC 21(R1) - Interim financial statement and with international standard IAS 34 - Interim Financial Reporting, comprising the understanding expressed by CVM through Official Memorandum/CVM/SNC/SEP No. 02/2018 on the application of NBC TG 47 (IFRS 15) regarding the aspects related to the transfer of control for the recognition of income in the purchase and sale agreements of unfinished real estate units, applicable to the real estate development entities in Brazil, as well as the submission of this financial information in a manner consistent with the rules issued by the Brazilian Securities and Exchange Commission, applicable to the preparation of the Quarterly financial information (QFI).

Significant uncertainty related to going concern

As of June 30, 2021 the Company has accumulated losses of R$ 2,507,694 thousand, calculated a profit in the Parent Company of R$ 2,619 thousand and in the consolidated of R$ 2,616 thousand for the six-month period ended June 30, 2021 (loss in the Parent Company of R$ 37,268 thousand and in the consolidated of R$ 37,417 thousand for the six-month period ended June 30, 2020), besides presenting an uncovered net equity of R$ 170,146 thousand and a consolidated negative net working capital of R$ 188,752 thousand. Therefore, the Company's going concern is directly related to the success in adopting the management measures described in Note 1, which have the objective of ensuring the normal continuity of the Company's operations through the resumption of positive operating results and profits. The Company's financial statements have been prepared on a going concern basis, taking into consideration the operating cash generation, and do not include any adjustments regarding the realization and classification of assets and liabilities, which would be required in the case of discontinued operations. Our opinion is unqualified with respect to this matter.

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Realization of assets - real estate to be sold- Chácara Europa Land

As described in Note 7, the Company owns the property Chácara Europa Land, which is recorded as of June 30, 2021 in the group of real estate to be sold in non-current assets for the amount of R$ 45,536 thousand, net of provision for realization of assets (impairment). On December 2, 2020, the Secretariat of Green and Environment of the Municipality of São Paulo transcribed a Notice of Infraction, with no penalty, for which the suspension of any work or intervention in the referred land was determined, until the presentation of the fauna report. Such report was presented on December 3, 2020, when the Company also requested the review of said suspension, which is still pending decision. In view of this, the Company has temporarily ceased activities in the area until it is resolved on its request to review the suspension. In parallel to this, an old provisional tipping procedure was resumed in the area of part of the Municipal Council for the Preservation of the Historical, Cultural and Environmental Patrimony of the City of São Paulo - Conpresp, which is pending analysis by the São Paulo City Attorney's Office. , to ascertain whether it does not confront the judicial decisions previously rendered in favor of the Company. Due to the retro-described uncertainties, we were unable to conclude about the value and form of realization of the asset. Our opinion is not qualified in relation to this subject.

Emphasis

Termination of the legally-backed financial restructuring

We call your attention to Note 30 - Subsequent Events - to the Company and consolidated interim financial information, which indicates that a decision was issued by the judge of the 2nd Court of Bankruptcy and legally-backedfinancial restructuring of the Central Civil Court of the City of São Paulo in the records of the legally-backedfinancial restructuring of the Company and its subsidiaries, determining the termination of the legally-backedfinancial restructuring of Viver Group (Company and its subsidiaries). Our conclusion is unqualified in relation to this matter.

Transfer of control for revenue recognition in purchase and sale agreements of uncompleted real estate unit

As described in Note 2, the individual and the consolidated interim financial information were prepared in accordance with CPC 21 (R1) and IAS 34 (the consolidated information), comprising the understanding expressed by CVM through Official Memorandum/CVM/SNC/SEP No. 02/2018 on the application of NBC TG 47 (IFRS 15) regarding the aspects related to the transfer of control for the recognition of income in the purchase and sale agreements of unfinished real estate units, applicable to the real estate development entities in Brazil. Our conclusion has no change regarding this matter.

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