TRISULTRISUL TRISUL at-a-glance

Family-owned Company with Sharp focus on the wealthiest reference shareholders actively regions of city in the engaged in its management for +20 mid/high income segment for nearly years. a decade.

Fully vertical and integrated Superior operational and financial business model with reduced cycle performance, even in tough and relevant optioned landbank. macroeconomic conditions.

R$805 MM +11 p.p. 28% p.a. 12% ROE 2Q20 LTM 2Q20 LTM Net Revenue CAGR 2016-2Q20 Growth since 2016

R$194 MM 24% 143 ~23k deliverd units 2Q20 LTM ADJ. EBITDA EBITDA Margin Projects launched since IPO (2007)

2 Why invest in TRISUL?

Focus on profitability Best regions: – return on equity R$ 3.5 billion of PSV of + Cash Positive (ROE) landbank on balance + value generation

Resources to Doing more of the accelerate Trisul's same, and better! growth

3 Landbank Premium / Focus on consolidated regions

Trisul has a differentiated landbank acquisition strategy with its lands located in the wealthiest regions of the city, allowing the company to continue growing with the same successful strategy in the next years.

Marginal Tietê ~R$ 3.5 bi(1) Lapa Vila Romana Perdizes São Paulo Marginal Sumaré Liberdade Mooca Butantã Pinheiros

Paraíso Morumbi Vila Mariana ▪ Focus on mid/high income regions of Vila Olímpia São Paulo ▪ Land lots: ~3,000m2 (avg) ▪ Target PSV: R$150 MM (avg) Vila da Saúde High-density locations Population : ~4 MM Very high High income Mid income Subway Landbank(1) income region region region lines

Sources: Company information and Geoimóvel. 4 Note: (1) Estimated approximately value. Income distribution map of the city of São Paulo x Trisul's area of operation Trisul operates exactly where there is a higher concentration of income in the city

– located on the axis of the blue / green / yellow metro lines. Sub prefectures Minimum wage income by weighting area

5 Landbank (Off-Balance)

Trisul currently has an estimated PSV of land off-balance of R$ 1.5 billion. Off-balance lands are those with purchase and sale contracts, with resolutive clauses and unilateral termination.

Marginal Tietê ~R$ 1.5 bi(1) Lapa Vila Leopoldina Vila Romana Brás Perdizes Vila Madalena São Paulo Marginal Sumaré Pinheiros Bela Vista Liberdade Mooca Butantã Pinheiros Jardins

Paraíso Itaim Bibi Morumbi Vila Mariana ▪ They do not appear on the balance

Vila Olímpia sheet, as payment has not been initiated; ▪ Trisul has the practice of starting Vila da Saúde payments once these slots reach a minimum area for viability of a project. Very high High income Mid income Subway Landbank(1) income region region region lines

Sources: Company information and Geoimóvel. 6 Note: (1) Estimated approximately value. Land development cycle

Fast land development cycle¹ given solid land acquisition strategy:

PRE- LAND PRELIMINARY COMMERCIAL EXECUTIVE MEETING DUE DILIGENCE ACQUISITION DEVELOPMENT PROSPECTION ASSESSMENT COMMITTEE COMMITTEE COMMITTEE Lands are Product Costs, sale offered by Weekly Detailed Acquisition, definition and Technical and price and brokers, presentation of technical, legal Acquisition notification, project legal analysis of feasibility specialized lands offered and decision deed and land submission to the lands under presentation companies and and decision confirmatory committee. ownership real estate negotiation. for board corporate “go/don’t-go”. analysis . documentation development approval. partners. department.

Exclusivity contract (between the land owner and Trisul) signed Trisul’s average land development cycle: 14 months. after the commercial committee approval. 26

18 16 16 16 (Months) 13 15 14 14 13 15

10 9 7

2

Project 1 Project 2 Project 3 Project 4 Project 5 Project 6 Project 7 Project 8 Project 9 Project 10 Project 11 Project 12 Project 13 Project 14 Project 15 Landbank acquisitions in consolidated areas with basic infrastructure in place and low potential regulatory issues.

Note: (1) Calculated as the period, in months, between land acquisition and project launch. 7 Superior results track-record within the sector

Average Construction Cycle per Company (2018)¹ Last projects delivered by Trisul

Projects (delivery Type % Sold The land development cycle is the month) period between land acquisition and Conq. Amaralina F1 project launching. Economic 100% (Jan/2020) Conq. Amaralina F2 (Months) Economic 100% (Jan/2020) 44 Praça. Est. Jandira F2 Economic 39 72% 38 (Fev/2020) 33 Viva Mar Bem –Te-Vi 30 Economic 89% 29 (Mar/2020) Side Atlântica Medium 95% (Mar/2020) JT 230 High 99% (Apr/2020) Viva Mar Canário Economic 92% (May/2020) Orbit – Vila Olímpia High 98% (Jun/2020)

Trisul is able to deliver its projects fast and with a high percentage of units sold.

Sources: Companies public information. 8 Note: (1) For Trisul, it does not consider the economic project Parque Estação Jandira II. For Even, considers the guidance disclosed by the company in its Reference Form of 2 and a half years. Profit performance (R$MM)

Gross Profit Net Profit

+36% CAGR +177% CAGR

36% 19% 36% 18% 153 285 293 140 33% 13% 29% 178 29% 72 126 8% 87 1% 35 3

2016 2017 2018 2019 2T202Q20 LTM LTM 2016 2017 2018 2019 2T202Q20 LTM LTM

9 Revenue and launching performance (R$MM)

1.153

1.026

683 680 799 789

380 545 302 Impact of COVID-19 411 442

241

2015 2016 2017 2018 2019 2020*

LançamentoLaunches % % Trisul Trisul ReceitaNet Revenues Líquida

2020*: estimates based on guidance released. 10 Revenue performance (R$MM)

Net Revenue

+28% CAGR 799 805

545

442

302

2016 2017 2018 2019 2T202Q20 LTM LTM

11 Sales over Supply (in PSV)

Sales over Supply - SoS (%)

31% 29% 28% 28% 26% 26% 25% 24% 23% 20% 21% 23% 21% (avg.) 19% 17% 18% 19% 19% 16% Peers 15% (avg.)

1Q161T16 2T16 2Q16 3T16 3Q16 4T16 4Q16 1T17 1Q172T17 2Q173T17 3Q174T17 4Q171T18 1Q182T18 2Q183T18 3Q184T18 4Q181T19 1Q192T19 2Q193T19 3Q194T19 4Q191T20 1Q202T20 2Q20

Sources: Companies public information. 12 Net Debt/Equity historical performance

60% 51% 49% 50% 44% 45% 44% 40% 40% 35% 33% 31% 30% 30% 30% 30% 29% 28% 29% 30% 26% 24%

20%

10% 2% 0%

-9% -10% -16% -17% -20%

-30% 1Q151T15 4T154Q15 3Q163T16 2Q172T17 1T181Q18 4Q184T18 3Q193T19 2Q202T20

13 TRISUL x Peers 2Q20

ROE LTM P/E NET DEBT/EQUITY

-81,6% TRISUL 12% MITRE MRV 14,5 TENDA 11% EZTEC -19,0% DIRECIONAL 9% TENDA -13,3% TRISUL 14,6 MRV 9% TRISUL 2,4% EZTEC DIRECIONAL 3,2% 7% TENDA 16,3 EVEN 6% TECNISA 5,6% 5% CYRELA EVEN 21,8 GAFISA 8,8% MITRE 4% MOURA DUBEUX 12,2% RODOBENS -4% DIRECIONAL 24,6 EVEN 15,6% HELBOR -5% CYRELA 17,1% CYRELA 26,2 GAFISA -8% MRV 20,5% -19% TECNISA RODOBENS 34,0% EZTEC 28,6 MOURA DUBEUX -36% HELBOR 57,9%

Sources: Companies public information. 14 TRISUL x Peers 2Q20

SOS (% IN PSV) CONCLUDED INVENTORY

MRV 3,0% TENDA 30% TENDA 4,0% MITRE 29% RODOBENS 5,6% MRV 20% MITRE 6,4% RODOBENS 19% TRISUL 8,0% TRISUL 19% DIRECIONAL 10,0% DIRECIONAL 15% CYRELA TECNISA 14% 29,0% EZTEC EVEN 14% 36,0% GAFISA 41,5% MOURA DUBEUX 10% MOURA DUBEUX 44,9% CYRELA 9% EVEN HELBOR 8% 45,2% ROSSI EZTEC 7% 85,0% TECNISA 95,8% GAFISA 2%

Sources: Companies public information. 15 TRISUL x Peers 2Q20

GROSS MARGIN NET MARGIN

EZTEC 51,2% EZTEC 45,6%

TRISUL 33,1% TRISUL 17,8% CYRELA 32,8%

DIRECIONAL 32,4% MITRE 15,3% MITRE 31,9% DIRECIONAL 8,3% TENDA 30,7%

MRV 28,4% CYRELA 8,1% MOURA DUBEUX 28,2% TENDA 7,7% GAFISA 27,1%

EVEN 24,1% MRV 7,6% RODOBENS 21,4%

HELBOR 14,1% EVEN 7,2%

Sources: Companies public information. 16 Total shareholders¹

CAGR +874%

45.391

Number of Shareholders 40.146 36.200 34.262 30.842 26.670 21.915 19.635 17.156 15.642 14.858 12.142 13.109 10.215 8.678 9.756 6.800 4.658 5.700

Note: (1) Period: 01/01/2019 – 07/31/2020. 17 ESG (Environment, Social and Governance) Practices

Environment Governance

• AQUA Entrepreneur certification • Adoption of Novo Mercado (High Environmental Quality); practices (segment of B3); • Tag-Along Rights; • Strict system for monitoring • 25% of shares (at least) in water, energy and waste circulation (free-float); consumption; • At least 20% of the members of the Board of Directors are • Sustainability Committee that independent members; meets once a month to discuss • DFs in international standards; sustainable actions and • Opening of social networks, efficiency gains in Trisul’s work improving communication with sites; our investors.

• First company in the sector to Social acquire the PROCEL seal “Residential Buildings” for the • Donation to hospitals to fight Jaunas Enterprise, a partnership against Covid-19; between Trisul and Eletrobras; • Social fundraising campaigns in the work sites and in the main • Lower demand on urban office of Trisul; infrastructure and water • Donation campaigns to raise resources, generating a winter clothes and food; reduction in greenhouse gas • AACD reform. emissions.

18 In conclusion:

Superior In the best areas of The best ROE of operational and São Paulo city with the sector. financial a total PSV performance. landbank of R$3.5 billion.

Potential for Doing more of upside and even the same, and better results. better! Investor Relations [email protected]