Tecnisa S A : Dados Econômico-Financeiros

Financial Statements

Tecnisa S.A.

December 31, 2022

with Independent Auditor's Report

(A free translation from Portuguese into English of Independent Auditor's Report on Individual and Consolidated Financial Statements in accordance with accounting practices adopted in Brazil and International Financial Reporting Standards (IFRS, applicable to real estate development entities in Brazil registered with the Brazilian SEC (CVM))

TECNISA S.A.

Publicly Held Company

Corporate Taxpayer's ID: 08.065.557/0001-12

Company Registry: 35.300.331.613

São Paulo, March 23th, 2023.

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4 Q 2 2 & 2 0 2 2

In this quarter, the Company launched R$ 545 million PSV and reported Net Profit of R$ 16 million, with R$ 14 million of Adjusted Cash Generation. The fiscal year of 2022 is denoted by a profit of R$ 1 million and an increase of 112% of Net Contracted Sales.

TECNISA S.A. (B3: TCSA3), one of the largest residential real estate developers in Brazil, which works in an integrated manner (development, construction, and sales), today discloses the results for the fourth quarter of 2022 (4Q22) and the fiscal year of 2022, presented in accordance with the accounting practices adopted in Brazil, in Reais (R$), in accordance with the Brazilian Corporate Law.

Net Contracted Sales, Tecnisa's share, totaled R$ 314 million in this quarter, with SoS 1 of 22,1%. In 2022, sales corresponded to a total of R$ 585 million.

In 4Q22, Reserva Figueiras (R$288 million) and Kalea Jardins (R$380 million) were launched, totaling Tecnisa's PSV of R$ 545 million in 4Q22 and R$ 778 million in 2022.

The landbank totaled a potential PSV of R$ 4.3 billion, in Tecnisa's share.

Adjusted Gross Profit amounted to R$ 15 million in 4Q22, with an Adjusted Gross Margin of 21.6%. In the year, adjusted gross profit was R$ 44 million and adjusted gross margin was 19%.

Net Income in 4Q22 was R$ 16 million, reversing a loss of R$ 185 million in 2021 to a profit of R$1 million in 2022.

Consolidated Cash Position ended 4Q22 at R$ 205 million, 4 times higher than short-termmaturing debt.

1 Sales Over Supply ("SoS")

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MESSAGE FROM MANAGEMENT

Despite the challenging macroeconomic environment, 2022 was marked by several achievements for the Company, with emphasis on the reestablishment of annual profitability, after 7 years. We ended 2022 with net income of R$ 1 million, reversing a loss of R$ 185 million in 2021.

Throughout 2022, the SELIC rate rose 4.5 percentage points and reached 13.75% p.a., which made real estate financing more costly for customers and increased the Company's financial costs. In addition, the INCC increased by 12.4%, compressing the margins of the entire sector, which struggled to pass on the increase in construction costs to property prices.

In this context, the result achieved is remarkable and reflects management's effort in restructuring the business, optimizing the administrative structure, redefining the marketing and sales strategy, as well as launching projects that were well accepted by customers.

In September, the Direct Action of Unconstitutionality that had suspended Municipal Law No. 17,561/2021 was unanimously dismissed, as a result of which the administration felt confident to resume launches in Jardim das Perdizes ("JDP"). That same month, we launched Bosque Pitangueiras, resuming launches in the neighborhood after 8 years.

The first 3 months of sales showed a sales result of 80% of this product, demonstrating the enormous potential to be explored in the landplots that we have around the park. In November, we launched Reserva Figueiras with an 11% gain in price and a sales index of 35% so far. For the year 2023, the JDP will be an important pillar for consolidating the Company's results and creating value for our shareholders.

We cannot fail to mention the launch of the Kalea Jardins project in 4Q22. High income projects with differentials selected for our customers. This project and the launches at JDP are bringing good results for the Company. In the year, we grew 112% in sales compared to 2021 and amounted to R$ 585 million, Tecnisa's share, the highest amount sold since 2014. Reflection of the work of our Marketing and Sales team, as well as the brokers who supported us this year.

In 2022 we started 5 construction works. This fact, combined with the increase in sales, allowed for an increase in Net Operating Revenue of 63% compared to 2021, reaching R$ 230 million. In addition, such growth allowed a greater dilution of our fixed costs and, consequently, an increase of 4.3 percentage points in the Adjusted Gross Margin, which ended the year at 19%.

In addition to rethinking our commercial strategy, we sought to reduce our administrative expenses with a focus on increasing the efficiency of internal processes. We implemented systems that helped to improve cost control and reduce several expense lines, achieving a 14% reduction in administrative expenses compared to 20211.

1 General and administrative expenses excluding Long-Term Incentive Plan Provisions.

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Realizing that the year would be more volatile, we took the decision to lengthen the debt profile, which went from an average maturity of 3.0 years at the end of 2021 to 3.3 years at the end of 2022. In addition, we sold non-strategic assets totaling R$ 34 million and we entered lawsuit settlements in the amount of R$ 30 million, aiming at reinforcing the Company's cash position.

All our actions enabled us to reduce cash consumption by 70% compared to 2021 and end the year with cash 4 times higher than short-term obligations, providing security and comfort for the execution of our business plan.

We appreciate the effort of our employees and brokers to obtain this important result, the direction offered by the Board of Directors, as well as the trust placed in us by our shareholders, customers, partners, and suppliers.

Fernando Perez, CEO

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SUMMARY
TECNISA MAIN FIGURES	5
OPERATING PERFORMANCE	6
LAUNCHES	6
CONTRACTED SALES	7
LANDBANK	9
INVENTORY AT MARKET VALUE	10
DEVELOPMENT DELIVERY	11
RECEIVABLES TRANSFER	12
FINANCIAL PERFORMANCE	13
OPERATING REVENUE	13
COST OF PROPERTIES SOLD AND SERVICES RENDERED	14
GROSS INCOME AND GROSS MARGIN	14
BACKLOG RESULTS	15
SELLING EXPENSES	16
GENERAL AND ADMINISTRATIVE EXPENSES	16
EQUITY IN SUBSIDIARIES	17
OTHER OPERATING INCOME (EXPENSES)	17
EBITDA	18
FINANCIAL RESULTS	19
NET INCOME	19
CASH POSITION AND INDEBTEDNESS	20
TRADE ACCOUNT RECEIVABLES	21
4Q22 & 2022 EARNINGS RELEASE	23
IR CONTACTS	23
APPENDIX	24
APPENDIX 1 - INCOME STATEMENT	24
APPENDIX 2 - BALANCE SHEET	25
APPENDIX 3 - CASH FLOW	27
APPENDIX 4 - GLOSSARY	28

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