Dados Econômico-Financeiros

BRISANET PARTICIPAÇÕES S.A.

3Q21 Results

BRISANET GROWS EBITDA MARGIN BY MORE THAN 4 P.P. AND REACHES

38.2% IN 3Q21

Pereiro, CE, November 12, 2021. Brisanet Participações S.A. (B3: BRIT3), the largest company among independent internet service providers in Brazil, according to ANATEL's ranking, announces today its results for the third quarter of 2021 (3Q21).

The financial information presented herein has been prepared in accordance with the International Accounting Standards ("IFRS") and the accounting standards and practices of the Brazilian Corporate Law and the pronouncements, guidelines and interpretations issued by the Accounting Pronouncements Committee ("CPC") and approved by the Brazilian Securities Commission ("CVM").

Founded 22 years ago, BRISANET is, according to ANATEL's ranking, the largest Brazilian company among independent internet service providers in the country. With a product portfolio almost 100% in optical fiber and with operations focused on the Northeast region of the country, the Company also operates through its subsidiary AGILITY TELECOM, which provides internet services under the franchise model.

The Company operates in seven of the nine states in the Northeast region - Ceará, Rio Grande do Norte, Paraíba, Pernambuco, Alagoas, Piauí and Sergipe - providing fixed broadband services through optical fiber in 113 cities.

3Q21 HIGHLIGHTS

• Net operating revenue grew 56% in 3Q21 when compared to 3Q20 and 12% when compared to 2Q21. This is the result of the Company's organic geographic expansion, having started in 10 new cities in the 3Q21 alone, and in the last 12 months having added 1.5 million homes passed (HP) - the same amount it added from 2011 to 2019.
• Adjusted EBIT for non-recurring items (IPO expenses) grew 65% in 3Q21 when compared to 3Q20, with margin increasing 1 pp, and 279% when compared to 2Q21, with margin increasing 12 pp. Adjusted EBITDA grew 42% and 25% in the same comparisons, respectively. EBITDA margin rose to 38.2% in 3Q21, evidencing the start of cost optimization initiatives by the Company. These initiatives are only expected to be fully captured in the next 12 months.
• In October, the Company added 221,000 HPs, totaling 4 million HPs on 10/31/2021. In October, 16 thousand HCs were added to Brisanet's base and 16 thousand to Agility's. Therefore, the Company currently serves, including Agility franchisees, around 1 million customers in the Northeast.
• On November 4th, Brisanet Serviços de Telecomunicações, controlled by the Company, was the winner in 3 regional lots of 3.5 GHz (NE and CO) and 2.3 GHz (NE) spectrum at Anatel's 5G Auction. The Company reiterates its commitment to promoting digital inclusion throughout the Northeast and now also in the Midwest. The grants for the 3 lots total R$168 million, which must be paid in 20 years, the same period of the spectrum right of use. In addition, the Company undertakes to bring 5G coverage to all cities in the NE and CO with less than 30,000 inhabitants. This investment should be made from 2023 to 2030. According to Anatel, the expectation is that the Terms of Authorization for Use will be signed this year.

Brisanet	3T21	3T20		9M21	9M20
Operating Highlights
Cities served	110	94		110	94
Access Ports - '000	2,788	1,690			2,788	1,690
HP added- '000	579	256		902	513
Total HP - '000	3,760	2,253		3,760	2,253
HC added- '000	54	86			116	117
Total HC - '000	791	555		791	555
Financial Highlights (R$ million)
Net Revenue	190.0	121.9		524.3	322.4
Gross Margin (%)	46%	49%		45%	51%
Operating Income	26.6	19.4		59.5	52.2
EBITDA	67.2	42.3		169.2	114.5
Adjusted EBITDA	72.6	51.2		201.2	137.8
Adjusted EBITDA Margin (%)	38%	42%		38%	43%
Net Income	(6.6)	11.2		0.7	9.2
Net Debt	(181.9)	n.a.	(181.9)	n.a.
Net Debt/EBITDA ltm (x)	n.m	n.a.		n.m.	n.a.

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Agility Telecom	3Q21
Operating Highlights
HP - milhares	718
HC - milhares	159
# of franchisees	93
Financial Highligjts (R$ million)
Net Revenue	2.4
Gross Income	(0.6)
Gross Margin (%)	-24%
Operating Income	(1.8)
Net Loss	(2.0)

Note: Agility Telecom became a part of Grupo Brisanet after Mar/2021, starting to be consolidated as of Apr/2021.

CONFERENCE CALL

November 16, 2021 - Tuesday - 9AM (NY Time) - In Portuguese with simultaneous translation to English

Brisanet - 3Q21 Earnings Release

Please join us for the zoom meeting at:

https://tenmeetings.com.br/call-de-resultados/portal/#/home?webinar=98200710744

The link is also available at our website - ri.com.br

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BRIEF HISTORY

Brisanet was founded in 1998, in the city of Pereiro, in the semiarid region of the State of Ceará, in Brazil. The Company was created with the aim of providing internet via radio, with quality and affordable prices in the interior of the Northeast, thus seeking to promote the local development of Pereiro and the underlying regions.

In 2000, as a result of the expansion of its business, the Company's operations already covered several cities in the state of Ceará and in the state of Rio Grande do Norte. In the same year, the Company had 10 employees and served 350 customers.

In 2010, the Company became the largest internet

radio operator in Brazil, serving more than 30,000 customers in 150 cities in the countryside of the Northeast region. To supply the Company's expansion, managers saw in optical fiber a way to provide more connectivity and began to study different ways to make the new technology viable.

In 2011, the Company began deploying optical fiber in the city of Pau dos Ferros, in the State of Rio Grande do Norte, the first city in Brazil to be 100% served with the technology.

In 2014, the Company sought to expand its services through optical fiber, starting to invest in the transmission of the fixed phone signal in the city of Juazeiro do Norte, in Ceará. In the following year, 2015, the Company also started to provide cable TV services and, in 2018, mobile telephony services, through MVNO ("mobile virtual network operator") with a national operator.

In 2019, the Company took an important step in its expansion plan by activating its services in the city of João Pessoa, in the State of Paraíba, thus becoming the first state capital to be served by Brisanet. In that same year, as a reflection of its strategic planning, the Company has already grown to over 4,000 employees, out of which half were contracted that same year, and served around 350,000 subscribers in 90 Northeastern cities.

Today, the Company operates as an internet provider via optical fiber, cable TV, music streaming, fixed and mobile telephony. Brisanet serves around 113 cities in the states of Alagoas, Ceará, Paraíba, Pernambuco, Piauí, Rio Grande do Norte and Sergipe, totaling almost 807,000 subscribers and almost 8,000 employees, with a network structure based on its own digital optical fiber belt. In addition to having more than 100 franchisees in Agility Telecom, which together add up to almost 180,000 subscribers in smaller cities and rural districts in these same Northeastern states.

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OPERATING RESULTS

Brisanet's mission is to provide a quality internet service for all citizens in the Northeast region, including those who live far from large urban centers. One of the Company's main differentials in terms of quality and efficiency comes from its vertical operation. The Company operates throughout its value chain, from mapping of potential new areas to receive fiber, to providing support and monitoring its services to customers.

One of the Company's quality pillars is its relationship with the customer, which is mainly managed through its proprietary management platform. It allows to know and even to act, in real time, from its operations center at the Company's headquarters, upon events happening to its infrastructure and its customers.

The Company has a fully integrated state-of-the-art data center structure and with local content, which guarantees the quality and stability of internet access, as well as link savings and the ability to increase data speed in the future.

Brisanet also has more than 20,000 km of backbone infrastructure (paths used to distribute internet to other networks), with 3,800 km added in 3Q21, and close to 43,000 km of FTTH (fiber-to-the-home) cables. The FTTH modality corresponds to the optical fiber transmission network architecture where the network reaches the subscriber residence, coming directly from the distribution box of the company providing the service.

In 3Q21, 579,000 HPs and 54,000 customers were added. The drop in take up rate is normal if we consider that the HPs are released in blocks and that the activation of customers has a curved behavior, accelerating more when the city is fully delivered. Just as an example, in Maceió, which we activated at the end of 2020, the vertical area is only being completed now. In Teresina, a less verticalized city, the first block was activated in July and the horizontal area should be completed by December.

	3Q21	2Q21	3Q20	3Q21 x	3Q21 x
	3Q20	2Q21
Access Ports	2,788,221	2,386,020	1,689,555	65%	17%
Added HP	578,770	323,555	255,867	126%	79%
Homes Passed (HP)	3,760,130	3,181,360	2,252,740	67%	18%
Added HC	54,151	61,759	86,020	-37%	-12%
Homes Connected (HC)	790,731	736,580	554,915	42%	7%
Cities served	110	100	94	17%	10%
Churn	2.25%	2.46%	1.70%	32%	-9%

Agility Telecom*	3Q21	2Q21
Homes Passed (HP)	74,713	81,760
Added HP	717,753	643,040
Homes Connected (HC)	11,040	15,910
Added HC	159,106	148,066
# of franchisees	93	93

• Agility Telecom became a part of Grupo Brisanet after Mar/2021, starting to be consolidated as of Apr/2021.

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