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Cyrela Brazil Realty S.A. Empreendimentos E Participações

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Cyrela Brazil Realty S.A. Empreendimentos E Participações Cyrela Brazil Realty S.A. Empreendimentos e Participações Quarterly Information - ITR ended September 30, 2020 (A free translation of the original report in Portuguese as published in Brazil containing quarterly information prepared in accordance with accounting practices adopted in Brazil and IFRS) applicable to the Brazilian Real Estate development entities and registered with the Brazilian Securities and Exchange Commission (CVM). KPMG Auditores Independentes Rua Arquiteto Olavo Redig de Campos, 105, 6º andar - Torre A 04711-904 - São Paulo/SP - Brazil Caixa Postal 79518 - CEP 04707-970 - São Paulo/SP - Brazil Telephone +55 (11) 3940-1500 kpmg.com.br Report on the review of quarterly information - ITR To the Shareholders and Administrators of Cyrela Brazil Realty S.A. Empreendimentos e Participações São Paulo - SP Introduction We have reviewed the interim, individual and consolidated financial information of Cyrela Brazil Realty S.A. Empreendimentos e Participações ("Company”), contained in the Quarterly Information – ITR Form for the quarter ended September 30, 2020, which comprise the balance sheet as of September 30, 2020 and related statements of income, of comprehensive income for the three- and nine-month periods then ended, of changes in shareholders' equity and of cash flows for the nine-month period then ended, including the explanatory notes. Management is responsible for the preparation of the interim financial information in accordance with CPC 21(R1) and IAS 34 - Interim Financial Reporting, applicable to Real Estate Development entities in Brazil, registered with the Brazilian Securities and Exchange Commission (“CVM”), as well as for the presentation of this information in a manner consistent with the standards issued by the Brazilian Securities and Exchange Commission, applicable to the preparation of the Quarterly Information - ITR. Our responsibility is to express a conclusion on this interim financial information based on our review. KPMG Auditores Independentes, a Brazilian entity and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. 1 Scope of review We conducted our review in accordance with the Brazilian and international review standards for interim information (NBC TR 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim information consists in asking questions, chiefly to the persons in charge of financial and accounting affairs, and in applying analytical procedures and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Brazilian and International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion on the individual interim information Based on our review, we are not aware of any facts that would lead us to believe that the individual interim financial information included in the quarterly information referred to above was not prepared, in all material respects, in accordance with CPC 21 (R1) applicable to the preparation of Quarterly Information - ITR, and presented in a manner consistent with the standards issued by the Brazilian Securities and Exchange Commission (CVM) and applicable to the preparation of Quarterly Information (ITR) and presented consistently with standards issued by the Brazilian Securities and Exchange Commission (CVM). Conclusion on the consolidated interim information Based on our review, we are not aware of any facts that would lead us to believe that the consolidated interim financial information included in the quarterly information referred to above was not prepared, in all material respects, in accordance with CPC 21 (R1) and IAS 34, applicable to the preparation of Quarterly Information - ITR, and presented in a manner consistent with the standards issued by the Brazilian Securities and Exchange Commission (CVM) and applicable to the preparation of Quarterly Information (ITR) and presented consistently with standards issued by the Brazilian Securities and Exchange Commission (CVM). Emphasis As described in Note 2.2.1, the interim, individual and consolidated financial information contained in the Quarterly Information Form (ITR) was prepared in accordance with CPC 21 and IAS 34, applicable to Real Estate Development entities in Brazil registered with the CVM. Thus, the determination of the accounting policy adopted by the Entity for the recognition of revenue in contracts for the purchase and sale of unfinished estate units on the aspects related to the transfer of control follows the understanding of Company’s management on the application of CPC 47 - Revenue from Contract with Customer (IFRS 15), pursuant to that expressed by Brazilian Exchange and Securities Commission in CVM/SNC/SEP Circular Letter 02/2018. Our conclusion is not qualified in this respect. KPMG Auditores Independentes, a Brazilian entity and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. 2 Other issues - Statements of added value The aforementioned quarterly information includes the individual and consolidated statements of added value for the nine-month period ended September 30, 2020, prepared under responsibility of Company's Management, and presented as supplementary information for IAS 34 purposes applicable to Real Estate Development Entities in Brazil registered at Brazilian Securities and Exchange Commission (CVM). These statements have been subject to review procedures performed in conjunction with the review of the quarterly information, in order to determine whether they are reconciled with the interim financial information and book records, as applicable, and whether their form and content are in accordance with the criteria defined in Technical Pronouncement NBC TG 09 – Statement of Added Value. Based on our review, we are not aware of any facts that may lead us to believe that these statements have not been prepared, in all material respects, in accordance with the criteria set forth in this Technical Pronouncement and consistently with respect to the individual and consolidated interim financial information taken as a whole. São Paulo, November 9, 2020 KPMG Auditores Independentes CRC 2SP014428/O-6 Original report in Portuguese signed by Eduardo Tomazelli Remedi Accountant CRC 1SP259915/O-0 KPMG Auditores Independentes, a Brazilian entity and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. 3 ITR – Quarterly Information - 09/30/2020 - CYRELA BRAZIL REALTY S.A EMPREEND E PART Version: 1 Contents Identification Composition of capital stock 1 Individual Financial Statements Balance Sheets - Asset 2 Balance Sheet - Liabilities 4 Income Statement 6 Statement of Comprehensive Income 8 Statement of Cash Flows 9 Statement of Charges in Shareholder’s Equity DMPL - 01/01/2020 to 09/30/2020 11 DMPL - 01/01/2019 to 09/30/2019 12 Statement of Added Value 13 Consolidated Financial Statements Balance Sheets - Asset 14 Balance Sheet - Liabilities 16 Income Statement 18 Statement of Comprehensive Income 20 Statement of Cash Flows 21 Statement of Charges in Shareholder’s Equity DMPL - 01/01/2020 to 09/30/2020 23 DMPL - 01/01/2019 to 09/30/2019 24 Statements of Added Valued 25 Performance Commentary 29 Explanatory Notes 26 Other Information the Company Considers Significant 94 Report and Statements Declaration of Directors on the Financial Statements 96 Directors’ Statement on the independent Auditor’s Report 97 ITR – Quarterly Information - 09/30/2020 - CYRELA BRAZIL REALTY S.A EMPREEND E PART Version: 1 Identification / Composition of Capital Stock Number of Shares Current Quarterly (thousand) 09/30/2020 Paid in Capital Common Shares 399,743 Preferred 0 Total 399,743 In Treasure Common Share 15,239 Preferred 0 Total 15,239 PAGE: 1 of 97 ITR – Quarterly Information - 09/30/2020 - CYRELA BRAZIL REALTY S.A EMPREEND E PART Version: 1 Individual Financial Statements / Balance Sheets – Asset (In thousands of Reais) Account Account Description Current Quarter Prior Year Code 09/30/2020 12/31/2019 1 Total Assets 9,302,738 7,213,929 1.01 Current Assets 1,196,999 653,266 1.01.01 Cash and cash equivalents 27,161 5,828 1.01.01.01 Cash and cash equivalents 27,161 5,828 1.01.02 Short-term investments 1,048,182 537,382 1.01.02.01 Financial investments valued at fair value 881,660 537,382 1.01.02.01.03 Securities 881,660 537,382 Financial Investments Valued at fair Value Through Other 1.01.02.02 Comprehensive Income -406 0 1.01.02.03 Financial investments valued at amortized cost 166,928 0 1.01.03 Accounts Receivable 6,198 2,932 1.01.03.01 Trade accounts receivable 6,198 2,932 1.01.04 Inventories 65,861 97,206 1.01.04.01 Properties for sale 65,861 97,206 1.01.06 Recoverable taxes 7,669 0 1.01.06.01 Current taxes recoverable 7,669 0 1.01.06.01.01 Recoverable Taxes and Contributions 7,669 0 1.01.07 Prepaid expenses 4,931 7,597 1.01.07.01 Prepaid expenses 4,931 7,597 1.01.08 Others current assets 36,997 2,321 1.01.08.03 Others 36,997 2,321 1.01.08.03.01 Other accounts 3,639 2,321 1.01.08.03.02 Financial
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