Gafisa S A : Operational Preview - 2Q21

Operational Preview | 2nd Quarter 2021

FOR IMMEDIATE RELEASE - São Paulo, July 19, 2021 - Gafisa S.A. (B3: GFSA3; OTC: GFASY), one of Brazil's leading homebuilders, announces today its operational results for the second quarter of 2021. The operational results are preliminary and subject to review by the auditors.

GAFISA's sales reached R$201 million in 2Q21, up 386% over 2Q20. Launches and pre-launches reached R$809 million.

Gafisa releases to the market a preview1 of its operational results for the second quarter of 2021, as well as the performance of sales, launches and inventory indicators.

Sales totaled R$201 million in the second quarter of 2021 and R$364 million in the first half of the year, moving up substantially over the same periods in 2020.

In the second quarter, as sanitary restrictions are eased, the Company reinforced its presence in the market with launches and pre-launches totaling R$809 million. The amount corresponds to more than half the guidance for the year.

In the last 12 months, Gafisa's launches totaled R$ 1,2 billion, net sales exceeded R$698 million and SoS reached 36.9% in the quarter. These amounts are the highest since the first quarter of 2019 and reinforce Management's commitment to sustainable growth in sales and profit.

Performance of Launches and Net Sales (LTM²)

R$ million

															1,206.4
													898.3	898.3	905.5
655.9													698.4
590.0	627.3										619.3	619.3
												538.3
													438.0
			337.6							271.0
			190.1	214.4 231.1	196.0	174.7	263.8	225.9
			138.3
				118.9		135.5
	1Q19	2Q19	3Q19		4Q19	1Q20		2Q20	3Q20	4Q20	1Q21	2Q21
						Launches (% Gafisa)		Pre-Sales		Launches
	Note 1 - The operational results are preliminary and subject to review by the auditors.
	Note 2 - Result for the last 12 months.									1

Operational Preview | 2nd Quarter 2021

Sales

Gross sales reached R$201 million in the second quarter and R$364 million in the first half of 2021. These amounts represent a year-on-year increase of 386% and 354%, respectively.

Net Sales

Net sales reached R$180 million in the second quarter and R$309 million in the first half of 2021. These amounts represent a year-on-year increase of 806% and 538%, respectively.

Gross Sales, Net Sales and SoS² per quarter

R$ million

20.5%

292.9

10.6%

13.1%

11.7%

201.1

3.2%

162.9

143.9

2.3%

38.7 41.4

28.6	19.8	117.7	271.9	128.9	179.9
1T20	2T20	3T20	4T20	1T21	2T21
			Net Sales			Dissolutions		Sales over Supply (SoS)

Note 1 - The operational results are preliminary and subject to review by the auditors.

Note 2 - Sales over Supply (SoS)

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Operational Preview | 2nd Quarter 2021

Launches

In the second quarter of 2021, launches and pre-launches reached R$809 million, of which R$563 million corresponds to Gafisa's share. Gafisa reaffirms its commitment to launch R$ 1,5 billion in 2021. Pre- launches have operating sales stands and active sales campaigns.

		Launches by quarter
			R$ million		809.8
Launches (Total)
Pre (+) Launches (% Gafisa)		627.2
Launches (% Gafisa)
					562.9
		271.0					308.1
		263.8	355.5		286.2
1T20	2T20	3T20	4T20	1T21	2T21

Launches and pre-launches reached R$809 million in PSV in 2021

Launch	Invert Campo Belo Flow Nestor Pestana	Marajoara Club House Ibirapuera Park house
	Launch	Pre-launch	Pre-launch	Pre-launch
PSV	308,105	140,216	147,823	213,669
% Gafisa	100%	100%	100%	0%
PSV Swapped	21,903	11,300	-	-
Gafisa's PSV Ex-Swap	286,202	128,916	147,823	-

Flow Nestor Pestana

Ibirapuera	Invert Campo Belo
Park house
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Operational Preview | 2nd Quarter 2021

Inventory

In the second quarter of 2021, the Company's inventory units grew 22% over the previous quarter. The distribution by region demonstrates adherence to the Company's strategy. The new projects already account for around 40% of inventory, while finished units account for approximately 25%.

	Inventory by construction stage				Inventory by region
					R$ million							R$ million
					1,193.1								1,193.1
977.5	26%			977.5			10%
		7%			24%
24%
					29%
33%		37%
									64%			66%
					37%
43%
		1Q21		2Q21					1Q21			2Q21
		Launch		Under construction			Finished				São Paulo		Rio de Janeiro			Other Markets

Gafisa delivered 4 projects, totaling 823 units

and PSV of over R$420 million.

Deliveries	Moov Brás	J330	Upside Pinheiros	Life
Date	May/21	May/21	May/21	June/21
Units	543	28	84	168
Total PSV (R$ million)	94,162	77,823	159,990	93,000
Location	São Paulo	São Paulo	São Paulo	Rio de Janeiro

For more information, please contact us.

IR Contact	Ian Andrade
Chief Financial Officer and Investor Relations Officer
Email:[e-mail]
Flavio Prieto
IR Website: www.Gafisa.com.br/ri
Investor Relations Manager

This release contains forward-looking statements relating to the business prospects, estimates for operating and financial results and growth prospects of Gafisa. These are merely projections and, as such, are based exclusively on the expectations of management concerning the future of the business and its continued access to capital to fund the Company's business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the industry, among other factors; therefore, they are subject to change without prior notice.

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