Viver Incorporadora e Construtora S A : Earnings Release 1Q23

November 13, 2023

EARNINGS

RELEASE

3Q23

INVESTOR

RELATIONS

Viver Incorporadora

e Construtora S.A.

3Q23	November 13,
3Q23
Earnings Release	2023

Viver Incorporadora e Construtora S.A. announces its operational and financial results related to the third quarter of 2023 (3Q23)

Webcast

Date: November 14, 2023

Time: 3:00 pm (Brazilian Time)

Link:Clique Aqui

Phones: + 55 11 3127-4971 + 55 11 3728-5971

3Q23 Highlights

Net operating revenue of R$18.4 million, representing an increase of

58.6% compared to the previous quarter;

Reduction of 87.6% in the

Viver Incorporadora	Company's total debt compared to
e Construtora S.A.	3Q22 and reduction of 28.1% compared
ON (B3: VIVR3)	to the previous quarter;
Price: R$ 3.35 (10/02/2023)	Settlement of CCB BIC, with the
Number of Shares: 23.676.543
consequent resolution of the debt
Market Value: R$ 79.3 MM
between Related Parties and release

IR Contact

of assets provided as collateral (subsequent event);

Larissa Stefanone Pereira

Investor Relations Coordinator

[e-mail]

www.ri.viver.com.br

[e-mail]

Launch of the Station Vila Madalena Development in July 2023;

Launch of the Domum Home Resort

Development (Diadema) in

September 2023;

Completion of works and Issuance of Occupancy Permit for Towers G

and H (2nd Phase) of the Nova Fama Development;

Homologation of the 8th tranche of share capital increase within the scope of the Judicial Recovery Plan,

which represented an approximate payment of R$17 million of the Company's liabilities.

INDEX 3Q23

Message from Management					4
Operational Performance					10
Financial Performance				13
Balance Sheet			17
Subsequent Event			20
Attachments			21

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3Q23

Earnings Release

Message from Management

We are pleased to present the operational and financial results for the third quarter of 2023 (3Q23).

In line with the Company's strategy and demonstrating robust consistency with what was presented in the previous quarter, the Company's performance has shown a significant improvement.

The Company's new cycle of operations was marked this quarter by the launch of two new projects: Station Vila Madalena (São Paulo), in July 2023 and Domum Home Resort (Diadema), in September 2023.

We highlight that, on September 30, 2023, Station Vila Madalena already had 39% of units sold, and unit sales will be recorded from 4Q23.

In August 2023, we completed the works and issued the Occupancy Permit for Towers G and H (2nd Phase) of the Nova Fama project.

Regarding the financial aspect, net operating revenue in 3Q23 was R$18.4 million, representing an increase of 58.6% compared to the previous quarter, due to the sale of two plots of land in the Company's Landbank and the progress of works under construction, whose revenue is recognized by the POC, highlighting that sales of the Station Vila Madalena and Domum Home Resort (Diadema) units will only be recognized from the next quarter onwards.

In September 2023, the Company's Board of Directors approved the 8th tranche of capital increase within the scope of the Judicial Recovery Plan, which represented a payment of approximately R$17 million of the Company's liabilities. This increase in share capital was intended to strictly comply with the provisions of the Judicial Recovery Plan approved by the Company's creditors and approved by the competent Court, as well as reinforcing its capital structure and balance sheet, aiming at the development, expansion and maintenance of its business, within a more solid capital structure, with the consequent restructuring of a significant part of the group's credits.

The Company's total debt continues to reduce continuously. On September 30, 2023, it was 31 million, which represents a reduction of 28.1% compared to the previous quarter and a reduction of 87.6% compared to the same period of the previous year.

Of the Company's total debt, the amount of R$10.9 million referred to debt between related parties. According to the Relevant Fact disclosed, on October 20, 2023, the Company paid in cash, in national currency, the outstanding balance of CCB BIC (hereinafter to be designated) in the amount of R$ 10.9 million, which resulted in the resolution of debt between the Company's related parties, with effect from 4Q23 (subsequent event).

Notwithstanding the debt resolution, we emphasize that obtaining financing and issuing new debt for the new project cycle is part of the ordinary course of the Company's business and operations.

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3Q23

Earnings Release

The Company's new operating cycle assets continue to exceed expectations, both in terms of results and operations. And in line with the new business strategy and operations cycle, management remains extremely optimistic regarding the Company's ability to generate results.

Ricardo Piccinini da Carvalhinha

Guilherme Claudio Gebara

Arthur Vinícius Ruperes Marin

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3Q23

Earnings Release

Operational and Finance Indicators

Operating Highlights (BRL	3Q23	2Q23	Var. 3Q23 /		3Q22		Var. 3Q23
million)		2Q23			/ 3Q22
Operational Highlights (BRL million)
Pre-Sales (% Viver)		10,5	19,8		-47,1%		36,3		-71,1%
Pre-Sales (Units)	44	68		-35,3%		159		-72,3%
Average Unit Sales Price (000)	238.353	291.815		-18,3%		228.275		4,4%
Financial Highlights (BRL million)
Average Unit Sales Price (000)	18,4	11,6		58,6%		47,0		-60,9%
Gross Profit	6,5	(0,2)		-3350,0%		17,8		-63,5%
Gross Margin	35,3%	-1,9%		37,2 p.p		37,9%		-2,6 p.p.
Adjusted Gross Profit¹	8,5	1,9		347,4%		20,1		-57,7%
Adjusted Gross Margin¹	46,2%	16,4%		29,8 p.p		42,7%		3,5 p.p
EBITDA	(34,2)	(13,6)		151,5%		3,6		-1050,0%
EBITDA Margin	-186,3%	-116,9%	-	69,3 p.p.		7,6%		-193,8 p.p.
Net Income (Loss)	(37,8)	(15,0)		152,0%		1,4		-2800,01%
Net Margin	-205,4%	-129,3%	-	76,1 p.p.		3,0%		-208,4 p.p.
Backlog of Revenues	1,1	2,7		-59,3%		7,0		-84,3%
Backlog of Results	0,2	0,5		-60,0%		0,7		nc
Backlog Margin	17,4%	17,5%	-	0,1 p.p.		9,6%		7,8 p.p
Selling Expenses	(1,6)	(3,0)		-46,7%		(1,7)		-5,9%
G&A²	(9,7)	(10,5)		-7,6%		(10,1)		-4,0%

¹ Excluding capitalized interest.

² Excluding ex-severance and restructuring cost the G&A would be R$ 6.7

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3Q23

Earnings Release

Main Projects

Projects	Nova Fama	Look	Station Vila	Domum Home
Madalena	Resort
Share	100%	100%	100%	100%
Launch Date	09/18/2021	09/28/2022	07/01/2023	09/27/2023
Location	Goiânia - GO	São Paulo - SP	São Paulo - SP	Diadema - SP
Segment	Mid	Mid-high	Mid	Mid
Classification	Resume of stopped	Inventory	Greenfield	Resume of stopped
work	work
% Evolution	99%	100%	0%	60%
Units Launched	264	25	182	148
Units in Inventory	25	1	124*	123*
Total Net PSV	65,076,603	11,100,450	72,022,909	70,566,433
(R$ million)
Contracted Net PSV	90.7%	94.1%	28.4%	16.3%
Project Result	10,567,249	4,008,191	10,534,535	11,442,218
(R$ million)
Net Margin	16%	36.1%	14.6%	16.2%
IRR p.a	39.3%	201.3%	17.3%	25.7%
Maximum Exposure	3,499,821	3,963,059	14,161,861	25,405,961
(R$ million)
MOIC	4.02	2.01	1.74	1.45

*Sales of units in the Station Vila Madalena and Domum Home Resort (Diadema) developments will be recorded from 4Q23.

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3Q23

Earnings Release

Launches

Station Vila Madalena

Launch: July/2023

Classification: Greenfield

Participation: 100%

Location: Vila Madalena | São Paulo (SP)

Segment: Mid Standard

Estimated Gross PSV: R$ 73.6 milion

Total Units: 203 units

Units Sold: 79 (39% of the project sold)

Estimated Construction Period: 22 months

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3Q23

Earnings Release

Domum Home Resort (Diadema)

Launch: September/2023

Classification: Resume of Stopped Work

Participation: 100%

Location: Diadema (SP)

Segment: Mid Standard

Estimated Gross PSV: R$ 73.8 milion

Total Units: 148 units + 19 Parking Spot

Estimated Construction Period: 14 months

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3Q23

Earnings Release

Operational Performance

Contracted Sales

In 3Q23, gross contracted sales totaled R$10.5 million, which represents a 47% reduction compared to the previous quarter. The Company emphasizes that efforts are being made to sell the new projects Station Vila Madalena and Domum Home Resort (Diadema), which will only be accounted for in the coming quarters.

Gross Sales

(R$ milion)

40.8

10.8	24.1	19.8
	3.0
30	3.6	10.5
21.1
16.2
	10.5
3Q22		1Q23		2Q23	3Q23
		Performed Units		Under Construction

Sales performance in 3Q23 was driven mainly by the legacy projects Viver Fama (GO), Beira Mar (PE) and Viver Canoas (RS), with greater representation of the middle segment with 98% of sales.

Sales By Segment	Sales By Region
	3%1%5%
98%	91%

2%

Low Income

Mid

South

North

Northeast

MidWest

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