Apresentação Do Powerpoint

1 Scenario 2 Favorable economic scenario “e” Stand for Estimated Source: Bacen Focus and IPEA 3 Favorable economic scenario Source: SECOVI-SP 4 Overview 5 Helbor at a glance More than 40 years of history. 240 projects launched and a PSV of more than R$ 13 billion. It has delivered more than 37,500 units. A public company listed on Stock Exchange, Bovespa since 2007. Present in 30 cities and 10 states in Brazil. 2nd best reputation on “Reclame Aqui” in the sector - 100% service. Leadership position in the segment 6 Time Line Foundation and Expansion Geographic Expansion Financial Crisis New Cycle 1977 1997 2007 2010 2011 2013 2016 2017 2018 2019 Foundation Foundation Capital Follow On IPO Helbor Capital of Alden Consolidation in Increase Partnership with R$560MM R$233MM Increase other cities and Foundation of HB R$264MM WeWork, W Hotel, New Strategy New R$150MM segments Brokers Barzel and BSP. focused on São Diversification and Market Capital Increase entry in the City R$120MM Beginning of the Paulo and of São Paulo cash generation pulverized cycle projects 7 Shareholding Structure * It Does not consider members of the control block The controlling group maintains majority position. As of Feb/2020 8 Construction Partners. 100% of the works are made in advance with constructions partners, based on defined prices. \\\\\ 9 Strategy 10 New positioning, launches in São Paulo delivering strong results Launches in the new growth cycle of the real estate sector 1 Wide São Paulo 2 Caminhos da Lapa | Jerivás 3 Spazio Vita PSV total PSV total PSV total R$144 mm R$206 mm R$85 mm 8 Launch Launch Launch Dec/17 Dec/17 Sep/18 Units Sold Units Sold Units Sold 2 Marginal Tietê 3 100% 45% 59% Margin Margin Margin Sep/19: 48% Sep/19: 26% Sep/19: 26% 4 Facces 5 SPSH 6 W São Paulo 7 PSV total PSV total PSV total Marginal Pinheiros R$125 mm R$155 mm R$460 mm Launch Launch Feb/19 Mar/19 Launch Av. Paulista Sep/19 Units Sold Units Sold 1 4 54% 48% Units Sold 35% Av. Rebouças Margin Margin Sep/19: 32% Sep/19: 43% 6 7 EDITION 8 MY SQUARE PSV total PSV total R$107 mm R$115 mm Launch Launch Dec/19 Nov/19 Units Sold Units Sold 50% 50% 5 # Launch locations 11 New positioning, launches in São Paulo delivering strong results Projects in Greater São Paulo reached a remarkable Launches in the new growth cycle of the real estate sector percentage of Units Sold 1 Atria Alphaville 2 Patteo Bosque Maia | Guarulhos (Fase 2) 3 Myrá Alphaville PSV total PSV total PSV total R$139 mm R$121 mm R$145 mm launch launch launch Mar/18 May-17 0 Dec/17 Units Sold 62% Units Sold 67% Units Sold 73% Margin Sep/19 : 31% Margin Sep/19: 31% Margin Sep/19 :33% Praças de Ipoema 4 Palmer 683 | Santo André Origem Casas 5 Mogi das Cruzes 6 PSV total PSV total R$60 mm R$96 mm PSV total R$86 mm launch Guarulhos launch Aug/18 launch Alphaville/Barueri Nov/18 2 Nov/19 6 7 Units Sold 85% Units Sold 62% 3 Cidade de 5 Units Sold 100% 1 Margin Sep/19 : 27% Margin Sep/19 : 37% São Paulo Mogi das Cruzes 4 Santo André 7 Passeo Patteo Mogilar PSV total R$229 mm launch Nov/19 Units Sold 30% Greater São Paulo 12 Case studies of recent successful developments Helbor has developed reference projects in quality and innovation Helbor Wide | Launched W Hotel | launch soon First W Hotel and W Residence in Brazil. Helbor has exclusivity to explore the W Brand in Brazil. 179 luxury hotel rooms and 216 residential units for sale. Easy access to Shopping JK Iguatemi First development under the guidelines of the “New Master Plan” in São Paulo Patteo Bosque Maia | Launched 180-unit mixed-use building from an internationally renowned P Reference building 89m high and brand - Hilton Garden INN 32 floors In front of the Bosque Maia park, one 128m high reference building with 31 floors of the largest in the city 392 residential units and 91 4 Cinemark rooms commercial units 33 stores - ConVem1 strip mall Master Real Estate Award 2019 - Secovi-SP / Fiabci-Brasil 73% already sold 339 residential units 100% sold during launch Note: (1) Management of HBR Realty 13 Product strategy Focus on Geographic diversification of PSV (smaller projects with multiphase developments) and focus on residential units It was Now is Projects with higher PSV and number of units, in the Focus on projects with lower PSV, launching customized residential units residential and commercial segments Launch strategy for large projects on Smaller projects with phased development strategy large lots with many units Focus on increasing PSV launch, which Flexibility to launch projects according to market demand, with customized solutions demanded more standardized products Commercial projects launched by Helbor Average units per project Helbor's customized products units units Wide W Hotel 4 211 120 None 2014 - 2018 2019 2010-18 2019 YTD R$ 90 – 120 milhões PSV(1) target per project Note: (1) Corresponds to Helbor's participation in each project 14 Successful liabilities management strategy Successful effort to reduce leverage, increase duration and reduce the average cost of debt places Helbor on a great growth path Successful liabilities management, increased duration, reduced debt cost and cash generation Duration from 2.1 to 4 years 8.5% reduction in the average cost of debt Structuring CRIs (2) backed by inventory and leased properties Change in the debt profile, significantly reducing Construction helped to lower the cost of debt and increase the average debt Financing (SFH) by half since 2017 duration Breakdown of net debt between old stock (1) and new stock (1) Evolution of debt composition, average cost and duration R$ mm and % % of total debt, years and% in nominal R $ 4.0 8,5% 1,422 of the cost of debt (1.1p.p.) do custo da dívida 27% 35% 56% 20% 3Q19 2017 2018 3Q19 Corporate debt Financing Net debt (Old Stock) Net debt (New Stock) Inventory CRI CRI of Leased Properties Average cost Duration (years) Source: Company Information and Central Bank of Brazil Notes: (1) Old inventory corresponds to launches until November 2017, while new inventory corresponds to launches after November 2017; (2) Certificate of Real Estate Receivables 15 Successful liabilities management strategy The innovative approach to the liability management strategy helped Helbor to monetize part of its inventory and reduce the total cost of debt Real Estate Receivables Certificates (CRI) “CRI” of leased properties Stock “CRI” ▪ Securitized by lease agreements of 632 units with We Work, Ânima and ▪ Securitized by units in stock Unimed / Santander (3) and 153 finished inventory units that can potentially be ▪ Roughly R$ 1,259mm funding in 7 issues leased ▪ Last issue of R$ 380mm with a 5-year term, with no grace period for interest, ▪ R$ 339 million Funding guarantee of 131% of the offer’s value in chattel mortgage, chattel of the ▪ 16-year term escrow account and R$ 5 million cash collateral, released in proportion to the ▪ R$ 22 million savings in maintenance expenses and financial costs, with amortization of the “CRI” debit balance expected revenue of ~ R$ 40mm in rental ▪ Potential upside with the sale of leased properties Estimated reduction in the cost of debt with lease “CRI” Estimated reduction in cost of debt with inventory “CRI” % % 12.0% 12.0% 10.9% 8.4% (1) (2) ConstructionCusto do Financiamento financing cost de Custo do CRI de Propriedades Custo do Financiamento de Custo do CRI de Estoque Construção CRI costArrendadas of leased properties ConstructionConstrução financing cost CRI inventory cost High quality inventory was essential to ensure a successful liabilities management strategy, proving the liquidity of properties Source: Company Information and Central Bank of Brazil Notes: (1) The average CRI cost of leased properties corresponds to the Brazilian inflation index, forecast by the Central Bank of 3.5% for the long term, plus 7.1% fixed; (2) The average CRI cost of the stock corresponds to the average Selic rate expected for 2019-22 (6.1%) plus a spread of 2.15%, which is the issue cost of ~ R $ 423mm CRI; (3) Rent to Unimed guaranteed by Santander 16 Successful liabilities management strategy The innovative approach to the liability management strategy helped Helbor to monetize part of its inventory and reduce the total cost of debt. 1st Quotas of the Multi Renda Urbana Real Estate Investment Fund Issuance Total sales of approximately R$ 400 million (1) the precedent conditions described in the CCVs are met on that date. (2) Free of commission / fee 17 Land Bank 18 Landbank positioned in strategic markets Focus on residential projects in the city of São Paulo and Greater São Paulo, with an opportunistic approach to other regions. Preference for smaller land Projects for medium and high income Focus on prime regions Products with higher added value 1 Landbank break : PSV (%) ▪ São Paulo as the main target market Others ▪ Focus and flexibility on high quality products 11% São Paulo ▪ Projects with average target PSV between R$ 90 mm and R$ 120 mm (Helbor’s @stake) Greater SP2 17% ▪ Helbor's “Fortaleza” for its great knowledge of the 100% Greater region São Paulo residential ▪ Focus on middle-income projects São Paulo 72% R$7.5 bi (100%) R$4.5 bi @stake ▪ Opportunistic approach to new projects Total PSV estimated for the 100% landbank: Others ▪ Strong partnerships with local construction R$ 10.4 billion companies and brokers Helbor's @stake: R $ 6.7 billion Note: (1) Consider launchers already mapped up to 2025; (2) Refers to Mogi das Cruzes and Campinas 19 São Paulo: high quality land bank to sustain growth Helbor has a broad portfolio of valuable land concentrated in São Paulo, strategically located close to the subway network.

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