Trisul S A : Dados Econômico-Financeiros

(Convenience translation into English from the original previously issued in Portuguese)

TRISUL S.A.

Independent auditor's report

Individual and consolidated interim financial information

As at September 30, 2022

JC/DCB/VAB/EMJ/VSC/MNP/MS/LM

5678i/22

TRISUL S.A.

Individual and consolidated interim financial information

As at September 30, 2022

Contents

Independent auditor's review report on the individual and consolidated interim financial information

Individual and consolidated statements of financial position

Individual and consolidated statements of income

Individual and consolidated statements of comprehensive income Individual and consolidated statements of changes in equity Individual and consolidated statements of cash flows Individual and consolidated statements of value added

Notes to the individual and consolidated interim financial information

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Tel.: [phone]	Rua Major Quedinho 90
Fax: + 55 11 3045 7363	Consolação - São Paulo, SP - Brasil
www.bdobrazil.com.br	01050-030

INDEPENDENT AUDITOR'S REVIEW REPORT ON THE INDIVIDUAL AND CONSOLIDATED INTERIM FINANCIAL INFORMATION

To the

Shareholders, Board Members and Management of

Trisul S.A.

São Paulo - SP

Introduction

We have reviewed the individual and consolidated interim financial information of Trisul S.A. ("Company"), included in the Quarterly Information, for the quarter ended September 30, 2022, which comprises the statement of financial position as at September 30, 2022, and the respective statements of income and comprehensive income for the three- and nine-month period then ended, and of changes in equity and cash flows for the nine-month period then ended, as well as a summary of the significant accounting practices and other notes.

The Company's Management is responsible for the preparation of the individual interim financial information in accordance with NBC TG 21 (R4) - Interim Financial Reporting and of the consolidated interim financial information in accordance with NBC TG 21 (R4) and with International Accounting Standard (IAS) 34 - Interim Financial Reporting, applicable to entities of real estate development in Brazil registered with the Brazilian Securities and Exchange Commission (CVM), as well as for the presentation of this information in accordance with the standards issued by CVM, applicable to the preparation of Quarterly Information. 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 Brazilian and international standards for reviewing interim financial information (NBC TR 2410 and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity). A review of interim financial information consists principally of applying analytical and other review procedures and making enquiries of and having discussions with persons responsible for financial and accounting matters. An interim review is substantially less in scope than an audit conducted in accordance with auditing standards and does not provide assurance that we would become aware of any or all significant matters that might be identified in an audit. Accordingly, we do not express such an audit opinion.

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 Information referred to above has not been prepared, in all material respects, in accordance with NBC TG 21 (R4) - Interim Statements, applicable to entities of real estate development in Brazil registered with CVM, as well as for the presentation of this information in accordance with standards issued by CVM applicable to the preparation of Quarterly Information.

Conclusion on the consolidated interim financial information

Based on our review, we are not aware of any fact that that would lead us to believe that the consolidated interim financial information included in the Quarterly Information referred to above has not been prepared, in all material respects, in accordance with NBC TG 21 (R4) and IAS 34, applicable to entities of real estate development in Brazil registered with CVM, as well as for the presentation of this information in accordance with standards issued by CVM applicable to the preparation of Quarterly Information.

BDO RCS Auditores Independentes is a Brazilian limited liability company, member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each BDO member firm.

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Emphasis

Revenue recognition

As described in Note 2.1, the individual interim financial information included in the Quarterly Information has been prepared in accordance with NBC TG 21 (R4), and the consolidated interim financial information included in the Quarterly Information has been prepared in accordance with NBC TG 21 (R4) and IAS 34, applicable to entities of real estate development in Brazil registered with CVM. Accordingly, the determination of the accounting policy adopted by the Company for recognition of revenue in agreements for sale and purchase of unfinished real estate units, related to aspects of transfer of control, follows the understanding of CVM on the adoption of NBC TG 47 (IFRS 15), pursuant to CVM/SNC/SEP Circular Letter No. 02/2018. Our conclusion is not qualified in respect of this matter.

Other matters

Statements of value added

The quarterly information referred to above includes the individual and consolidated statements of value added for the nine-month period ended September 30, 2022, prepared under the responsibility of the Company's Management and presented as supplementary information for the purposes of IAS 34, applicable to entities of real estate development in Brazil registered with CVM. These statements were submitted to review procedures carried out alongside the review of the quarterly information, aiming to conclude if they are in accordance with the interim financial information and accounting records, as applicable, and if their form and contents are in accordance with the criteria established in Technical Pronouncement CPC 09 - Statement of Value Added. Based on our review, we are not aware of any fact that would lead us to believe that these statements were not prepared, in all material respects, in accordance with the criteria established in this Technical Pronouncement and consistently with the individual and consolidated interim financial information taken as whole.

Audit and review of corresponding amounts

The audit of the individual and consolidated statements of financial position as at December 31, 2021, and the review of the individual and consolidated interim financial information for the three- and nine-month periods ended September 30, 2021, presented for comparison purposes, were conducted by other independent auditors, whose audit and review reports thereon, dated March 15, 2022, and November 11, 2021, respectively, were unmodified.

The accompanying financial information has been translated into English for the convenience of readers outside Brazil.

São Paulo, November 08, 2022.

BDO RCS Auditores Independentes SS

CRC 2 SP 013846/O-1

Julian Clemente

Accountant CRC 1 SP 197232/O-6

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TRISUL S.A.

Individual and consolidated statements of financial position As at September 30, 2022 and December 31, 2021

(In thousands of Brazilian Reais, unless otherwise stated)

Assets

			Parent Company		Consolidated
	Note	09/30/22	12/31/21	09/30/22	12/31/21
Current
Cash and cash equivalents	5		68,233	190,126	226,906	387,514
Accounts receivable	6		3,509	33	269,629	370,851
Properties for sale	8		2,653	2,540	929,997	801,686
Sundry receivables	7		2,780	3,325	5,812	8,139
Recoverable taxes and contributions	-		2,506		2,874		2,629		2,947
			79,681	198,898	1,434,973	1,571,137
Noncurrent
Accounts receivable	6		17,493	-	198,938	105,189
Properties for sale	8		-	-	463,336	528,832
Related-party transactions	9.1		140,909	108,979	46,441	38,273
Recoverable taxes and contributions	-		1,984	1,349	2,103	1,474
Sundry receivables	7		-	-	241	1,314
			160,386		110,328	711,059		675,082
Investments	10.2.1		1,660,617	1,529,808	63,292	64,342
Fixed assets	11		6,381	7,566	92,224	26,903
Intangible assets	12		3,139	2,601	3,139	2,601
			1,670,137		1,539,975		158,655		93,846
			1,830,523	1,650,303	869,714	768,928
Total assets
		1,910,204	1,849,201	2,304,687	2,340,065
The accompanying notes are an integral part of this interim financial information.

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