Vitru Limited

Good evening, everyone. Thank you for waiting and welcome to Viltroo's first quarter 2023 Earnings Conference Call. We advise you that this video conference is being recorded and will be available on Viltroo's IR website, where the complete material of our Earnings Call can be found. You can also download the presentation from the chat icon. During the company's presentation, all participants will have their microphone disabled. Then we will start the Q&A session. And at this point, you'll be able to use your microphone. To ask questions, click on the cue on the icon at the bottom of your screen to join the cue. If you prefer to write your question, please follow the same steps and you'll be joining the cue as well. When your name is announced, a request to activate your microphone will appear on the screen, and then you must activate your microphone to ask questions. It is recommended that you do all the questions at once. We emphasize that the information contained in this presentation and any statements that may be made during during a clause regarding business prospects, projections and operational financial goals constitute the beliefs and assumptions of the company's management, as well as information currently available. Forward considerations are not performance guarantees. They involve risks, uncertainties and assumptions, and they refer to future events and therefore depend on circumstances that may or may not occur. Investors should understand that general economic conditions, market conditions and other operating factors may affect. Viltroo's future performance and lead to results that differ materially from those expressed in such forward-looking statements. Today, we have the presence of the company's executives, Pedro Garza, William Matos, Viltroo's co-CEOs, Carlos Freitas, Viltroo's CFO and IRO, and Maria Carolina, Investor Relations. We will give the floor to Mr. Carlos Freitas. You may begin.

Thank you, Pereira. And good evening, everyone. Thanks for joining us again. It's a real pleasure to be here with you all again for the release of our first quarter 2023 numbers. Here with me, I have Pedro Graça and William Matos, our two co-CEOs, Maria Carolina Gonçalves, the head of our IR department, and Raquel Sousaki, Daniel de Souza, and Luis Felipe da Silva from our IR department. A slide presentation will be part of today's webcast. which is also available in our website at investors.visru.com.br before we begin as usual i'd like to highlight and make note that as detailed on slide two of the presentation safe harbor is in effect for this call so now i invite you all to go to page four which is here on the screen so Here we have some important highlights for this last month, including some news regarding our leadership. The first one is that we are launching the transition period for our co-CEO structure, in which Pedro Graça, in up to six months from now, will leave his position as CEO or co-CEO of Vitru, and will take a seat at the board of directors. And at that time, William Matos, who will take over the sole CEO position of the company. As you remember, in August of 21, when we announced the agreement for the business combination with Unites Amar, we mentioned at that time that Vitru would have this two CEO structure once we close the transaction, which took place in May of last year. At that moment, the company started to be led not only by Pedro, but also by William. Pedro was the CEO of UniaSelve, had been since 2016, the CEO of UniaSelve in vitro, and William was at the time the head of the digital location business of Unicezumar, which was created by him and his team back there in 2006. So this co-CEO structure accelerated this integration process, which has advanced quite well, as you know, and already produced some nice numbers, nice synergies and margin gains, as you all saw when we announced the results of last year, in March of this year. With that in mind, we are confident to take one step further and move to the next phase. So we are now starting this position, this transition position, that I just announced. So this process was structured, was designed in a way to ensure continuity, a very smooth transition period, and to maintain the core values and the competitive advantages of both brands. At the end, I will ask Pedro and Willian to have some words here with you. Here on a different note, The board approved today a share buyback program for up to 500,000 shares to be potentially acquired over a period of up to 12 months. At the current share price, it makes total sense to launch such program, which confirms our confidence in the business model of the company and the prospects of the company. It is important to highlight that these 500,000 shares represent today around 6.4 percent of our floating and at the current share price and the current FX ratio uh the total amount of the program would amount to roughly 37 million reais uh so which is around 18 only of the adjusted net income of last year on the right part of the slides uh another important highlight we reached 886,000 students as of March of this year, an increase of 128% versus what UniaSELV had one year before. And nearly 97% of them in digital education, mostly the digital education undergraduate business, which is our core business, which had as of March 800,000 students. which makes us the largest player in Brazil. And finally, from a liability measurement perspective, we announced last week the execution of the indenture for our second debenture sessions for an amount of 190 million reais at an interest rate of CDI plus 2.6, so the local interest rate in Brazil, plus 2.6 for a five-year maturity, which is a quite comparative

interest rate given the current contest.