VASTA - 1Q21 Earnings Presentation - May 2021

Sep 6, 2026

Presentation detailing VASTA’s 1Q21 financial and operating highlights, including ACV for the 2021 commercial year, subscription revenue performance versus textbook-related revenues, and impacts from the second wave of Covid-19. Emphasizes service quality evidenced by top results in university admission tests and ENEM, alongside school additions and contract duration. Includes management discussion of segment performance and non-GAAP metrics such as Adjusted EBITDA, Free Cash Flow, and reconciliation notes and limitations.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages13

Reading Time33 min

AccessFree to download

Disclaimer

Highlights

Analysis of the 2021 Commercial Year(1) to date

1Q21 Financial Highlights - Net Revenue

1Q21 Financial Highlights - Adjusted EBITDA and Net Profit

Vasta expands leadership in ENEM¹ ranking

# VASTA PL AT FO R M # DISCLAIMER This presentation contains forward-looking statements that can be identified by the use of forward-looking words such as “anticipate,”"believe,”"could,""expect,”"should,"“plan,”"intend,""estimate”and“potential,among others.Forward-looking statements appear in anumber of places in this presentation and include,but are not limited to,statements regarding our intent,belief or current expectations.Forward-looking statements are based on our management's beliefs and assumptions and on information currently available to ourmanagement.Forward-looking statements speak only as of the date they are made,and we do not undertake any obligation to update themin light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events orcircumstances or to reflect the occurrence of unanticipated events.Such statements are subject to risks and uncertainties,and actual resultsmay differ materially from those expressed or implied in the forward-looking statements.Further information on these and other factors thatcould affect our financial results is included in filings we have made and will make with the U.S.Securities and Exchange Commission fromtime to time,including in the section titled“Risk Factors”in our most recent Form F-1 and 424(b)prospectus.These documents are avaialbleon the SEC Filings section of the investor relations section of our website at:https://ir.vastaplatform.com. We prepared this presentation solely for informational purposes.The information in this presentation does not constitute or form part of,andshould not be construed as,an offer or invitation to subscribe for,underwrite or otherwise acquire,,any of our securities or securities of oursubsidiaries or affiliates,nor should it or any part of it form the basis of,or be relied on in connection with any contract to purchase orsubscribe for any of our securities or any of our subsidiaries or affiliates nor shall it or any part of it form the basis of or be relied on inconnection with any contract or commitment whatsoever. We have included in this presentation our EBITDA,Adjusted EBITDA,Free Cash Flow and Adjusted Cash Conversion Ratio,which are non-GAAPfinancial measures,together with their reconciliations,for the periods indicated.We understand that,although EBITDA,Adjusted EBITDA,Free Cash Flow and Adjusted Cash Conversion Ratio are used by investors and securities analysts in their evaluation of companies,thesemeasures have limitations as analytical tools,and you should not consider them in isolation or as substitutes for analysis of our results ofoperations as reported under IFRS.Additionally,our calculations of Adjusted EBITDA,Free Cash Flow and Adjusted Cash Conversion Ratio maybe different from the calculation used by other companies,including our competitors in the education services industry,and therefore,ourmeasures may not be comparable to those of other companies. PL ATF O R M 1Q21 Earnings PresentationMay,2021 # HIGHLIGHTS The annual contract value(ACV)for the 2021 commercial year totaled RS853 million,23%higher than the amount ofsubscription revenue recognized in 2020(4Q19 to 3Q20),obtained exclusively by organic means. The second wave of Covid-19 hit the country precisely in the peak of enrollments to the 2021 school year,adding toan already fragile macroeconomic outlook.This combination has affected our business lines in different manners:subscription revenues have proven more defensive than the revenues associated with the sale of textbooks (PAR andnon-subscription revenues).Thus,we expect to see the subscription revenues of 2021 commercial cycle to be lowerthan the ACV. The superior quality of our services were recently confirmed by outstanding results in the most-competitiveuniversity admission tests,as well as in the National High School Exam (ENEM). In the 2021 commercial year we added 456 new schools to our client base,with an aver

FAQs

What were the main drivers behind VASTA’s 2021 commercial year contract value (ACV) performance?

The presentation states that the annual ACV for 2021 totaled RS853 million and grew 23% versus the 2020 subscription revenue amount, driven exclusively by organic means.

How did Covid-19 affect VASTA’s business lines for the 2021 cycle?

It notes that the second wave hit during peak enrollment for the 2021 school year, affecting lines differently: subscription revenues proved more defensive than revenues associated with textbook sales (PAR and non-subscription revenues).

Which non-GAAP financial measures are referenced, and why are they discussed?

EBITDA, Adjusted EBITDA, Free Cash Flow, and Adjusted Cash Conversion Ratio are presented along with reconciliations, with limitations stated and an emphasis that they should not be used in isolation or as substitutes for IFRS-reported results.

Sep 6, 2026

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