#1Tenda sua próxima conquista Corporate Presentation 4Q22#2Tenda at a Glance Tenda is the fifth largest developer of low-income housing in Brazil and operates in ten metropolitan regions of the country Launches Operating regions 9,147 9,113 R$ million, 4Q22 LTM % of gross sales (PSV) in 4Q22 Goiânia (GO) 6% 3,313 3,123 2,366 1,769 1,698 Curitiba (PR) 3% 1,105 1,070 1,000 993 964 MRVE3 CYRE3 CURY3 DIRR3 TEND3 PLPL3 EZTC3 EVEN3 GFSA3 TRIS3 TCSA3 HBOR3 RSID3 11,747 units launched in the last 12 months Source: Reference Form - Tenda, Reports of the Mentioned Companies Original scope Expansions since 2017 X% % of gross sales Fortaleza (CE) 7% Recife (PE) 4% Salvador (BA) 21% Belo Horizonte (MG) 1% Rio de Janeiro (RJ) 14% São Paulo (SP) 33% Campinas (SP) 2% Porto Alegre (RS) 9% 2#3History With more than 50 years of history, Tenda presented a successful strategic repositioning in 2012 and now begins a new phase 1969 In 2008, Gafisa incorporated Tenda to access the affordable housing market and integrated both management teams. In 2011, Tenda once again had a dedicated board of executives. 2012 First launches in the business model. In 2013, Tenda launched projects in 3 metropolitan regions. From there, it began to grow at the pace of 1 new region per year The origins of Tenda dates back to the founding of Tenda Engenharia e Comércio in 1969 (currently with no ties to Tenda) 2008 Strategic repositioning of Tenda, with the creation of a business model focused on the construction of buildings with aluminum shapes in metropolitan regions 2017 Tenda launches its first developments with taller towers, accessing neighborhoods that are ever closer to the center of Brazil's large cities 2020 Tenda continues its offsite construction project, inaugurating the Alea plant in the city of Jaguariúna. 2013 Tenda is spun off from Gafisa, returns to B3 and enters the Novo Mercado (New Market) 2018 Tenda starts project to develop business model based on offsite construction, aiming to expand to all cities in Brazil 2022+ 3#4Industrial approach The continued strong demand from the low-income segment has enabled the company to adopt an innovative industrial approach CONSTRUCTION INDUSTRY Tenda GDP 2022 - BRASIL¹ ✓ No standardization ☑ Only 3 SKUS 6.9% 2.9% Small players ✓ No coordination ✓ Cyclical demand +11.7 thousand launched units 2022 ☑ Full integrated Constant demand ☑% Civil Construction % total GDP Only 2 SKUs: buildings T+4 without an elevator and buildings with 1 or more elevators up to 16 floors. Civil Construction was the I precursor of GDP growth in Brazil | in 2022. 1 Source: ¹IBGE: Contas Nacionais Trimestrais - Taxa de variação do índice de volume trimestral. PWRY NO 4#5Fonte: Reference Form Industrial approach Cost reduction Industrial approach Low Prices High local scale This industrial approach allows for continuous improvement, which leads to consistent reductions in construction costs, despite the recent rise High SoS Dec-13 Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 Jun-15 Jun-1 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 -Tenda (in Real Terms) Tenda's Construction Cost Evolution Dec 2013 = 100 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 -Tenda (in Nominal Terms) 5 Dec-22 76 140#6Highlights Our sales prices are the lever with the highest speed of result response in Tenda's business model We are constantly evolving our sales prices, maintaining competitive levels; Σ This price evolution positively impacts the gross margin of new sales, which reached 31.7% in 4Q22; Tenda +2.3% +20.5% Gross sales of R$ 2.7 billion by 2022; Tenda has sold over 122,000 units since 2015, an average of 3,8 per year¹; 138 139 143 141 142 147 155 157 162 177 186 190 1020 2020 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 Average price per unit (R$ thousand) Source: Company 1 Base date considers 4Q22 6#7Highlights Tenda Source: Company 1 Base date considers 4Q22 The highest concentration of our revenue comes from Faixa 2 of the program, reaching levels of 50% in 4th quarter of 2022. 50% 18% 12% 8% 10% 2% 0-2,400 2,400-3,000 3,000-3,700 3,700-4,000 4,000-8,000 8,000-99,000 % Gross PSV by income 7#8I Affordable Housing Market in Brazil Significant demand for housing among those ineligible for market- based financing Popular Housing Market in Brazil I On February 14, 2023, Provisional Measure No.1.162/2023 was signed, announcing the resumption of the Minha Casa Minha Vida program. BRACKET 1 The program resumes track 1, which is aimed at families with incomes of up to R$2,640. The program is aimed at residents in urban areas with gross monthly family income of up to R$8,000. Lower interest rates to guarantee decent housing for the low-income population, using resources from the FGTS. Group Bracket 1 Bracket 2 Income Range Up R$2,640 R$2,640,01 to R$4,400 Bracket 3 R$4,400,01 to R$8,000 BRACKET 2 Subsidized Acquisition Families are randomly selected and pay a symbolic value for the property Primary Funding Source: General Budget of the Union (OGU) Families acquire units from the homebuilder Financial agent (CEF. BB) approves credit Subsidies meet the gap between payment capacity and property's market value Fiduciary alienation (mortgage) allows property resumption in case of delinquency Primary Funding Source: FGTS (mandatory pension fund) BRACKET 3 Market-Based Solution Financed by local private banks The government's goal is to contract two million homes by 2026. Source: Provisional Measure No.1.162/2023 / Programa Minha Casa Minha Vida (www.gov.br). 00 8#9FGTS FGTS Flowchart Main Inflows and Outflows ~80% of the FGTS budget is earmarked for Housing, constituting the main source of resources for low-income housing in Brazil Net Collection R$ billion - According to FGTS Budget Public Policies 8% of wage Workers FGTS Marketable Securities 120.8 116.8 113.2 105.7 TR + 3% + 62.4 100% payout 55.1 43.0 Withdrawals 33.0 Net Collection (+) Workers' Deposits (-) Withdrawals Net Income (+) Revenues from Loans (Public Policies) (+) Revenues from Marketable Securities (-) Deposits Remuneration Expenses (-) Administration Fee FGTS Budget Execution - Full R$ billion 79.6 2021 2022 2023 2024 2025 Plurianual 2022 2025 FGTS Budget Execution - Housing R$ billion Plurianual 2021 2024 FGTS FUNDO DE GARANTIA DO TEMPO DE SERVICO 81.5 62.9 79.3 73.3 76.5 73.6 56.2 68.9 68.9 53.9 53.3 53.5 50.7 47.8 46.8 65.9 62.8 55.8 57.9 57.5 53.5 53.2 51.1 2015 2016 2017 2018 Budget 2019 Actual 2020 2021 2022 58.7 42.1 42.6 47.1 50.0 50.0 50.2 49.2 2015 2016 2017 2018 2019 2020 2021 2022 Budget Actual Source: FGTS. Diário Oficial da União (955/2020). Note: (1) Net Collection and Net Profit according to Itaú BBA projections, and Cash in accordance with the FGTS Budget (Resolution 903/2018) 9#10Portfolio Highlights of 4Q22 launches (Totaling R$ 704.2 million) BOSQUE SALVADOR NORTE- BA CONDESSA DA PENHA - SP -3> 93 711 13 011 F 701 ・ 413 331 More than 11.7 thousand units were launched during 2022, reaching a PSV of R$ 2.3 billion!! PARQUE BOUGAINVILLE - CE Launch: Dec/22 533 Units Launched Faixa 2 PSV - R$ 107.9 milhões Average Price R$ 202.5 (thousand) - Launch: Dec/22 m 117 T B 611 Units Launched Faixa 2 PSV - R$ 123.3 milhões Average Price R$ 201.8 (thousand) 17 r in Launch: Oct/22 387 Units Launched Faixa 2 PSV R$ 78.3 milhões Average Price R$ 201.5 (thousand) Source: Company 10#11Tenda in Numbers#12Operational Highlights Landbank R$ million 12,392 10,975 10,619 8,894 6,695 4,462 4,733 3,955 2,428 2013 2014 2016 2015 2017 2018 16,332 Launches R$ million 1,913 1,695 1,342 1,089 613 339 2019 2020 2021 2022 2013 2014 Net Pre-Sales and Net Pre-Sales Over Supply (SOS) R$ million. % (quarterly average) 2015 3,129 2,665 2,575 2,380 2016 2017 2018 2019 2020 2021 2022 Inventory at Market Value R$ million (PSV) and inventory turnover (in months of net pre-sales) 33% 25.1 31% 30% 28%* 26% 15.1 24% '23%' 24% 10.6' 11.4 9.2 9.3 3,141 7.4 7.8 6.5 9.9 1,954 15% 11% 2,553 2,363 1,649 1,707 1,582 2,040 1,855 1,180 1,545 1,085 1,144 900 1,141 829 1,015 618 490 396 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2013 2014 2015 2016 2017 2018 Net Pre-Sales Net SoS Inventory at Market Value - 2019 2020 Inventory Turnover 2021 2022 12 Source: Company#13Financial Highlights Net Revenues and Adjusted Gross Margin¹ R$ million. % 36.7% 36.3% 35.0% 33.3% 32.2% 30.6%' 26.9% 19.2% 15.0% 14.0% 2,540 2,413 2,282 1,950 1,681 1,358 1,053 817 851 570 2013 2014 2015 2016 2017 Net Revenue - Net Income and Net Margin 2018 G&A Expenses and G&A / Gross Sales R$ million. % 15.3% 11.9% 9.9% 8.5% 7.0% 7.4% 6.0% 6.8% 7.4%' 8.6% 208 188 154 124 117 97 87 90 95 84 2019 2020 2021 2022 2013 2014 2015 Adjusted Gross Margin 2016 2017 2018 2019 G&A/Net Revenue 2020 2021 2022 G&A Expenses S&M Expenses and S&M / Gross Sales R$ million. % 11.9% 13.5%, R$ million. % 3.6%' 5.4%' 7.9%' 8.8% 264 200 200 -7.5% -14.5% -19.2% 107 57 30 -22.7% 7.1%- 5.8%' 5.4%' 16.4%' -7.6% 7.1% 7.3% 6.9% -6.8%' 8.4% 246 241 -118 -109 201 -191 163 145 137 90 78 65 53 55 -547 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Net Revenue Adjusted Gross Margin 2013 2014 2015 2016 2017 S&M Expenses 2018 2019 S&M/Gross Sales 2020 2021 2022 Source: Company Note: (1) Adjusted by capitalized interests. 13#14Cash Generator Model#15% Source: Companies 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 Cancellations % of gross sales 4Q11 1012 2012 3Q12 4Q12 ειδι 2013 ειδε 4013 1014 2014 3Q14 1Q21 2Q21 3Q21 27% 24% 24% 19% 20% 20% 20% 1818% 18% 16% 12% 114% 18% 19% 18% 16% 15% HBOR3 16% 16% 13% 10% 9% 10% 11% 11% 11% 9% 8% 9% 0% 8%% 9% 7%88% 12% 10% 11% 14%13% 14% 13% 13%12% 11% 11% 10% 5% EZTC3 10,611,3 8,9 7,7 8,5 9,3 6,1 6,2 28,2 4Q11 R$ 1,477 MM 1,227 days 27,0 15,614,2 1Q18 2Q18 3Q18 4Q18 Mortgage Transfer months Net Pre-Sales over Supply (Net SoS) Sales and Transfers 4014 SLOL 2Q15 3Q15 4Q15 1016 2016 3Q16 4,3 4,0 3,4 3,4 4,0 3,2 2,9 3,9 4Q16 1Q17 2017 3Q17 4Q17 8LOL 2Q18 3Q18 4Q18 6LOL 2019 σιδε 4Q19 1Q20 2Q20 4Q21 1Q22 2Q22 3Q22 4Q22 لانانانا 4% Tenda Engenharia 3Q20 4Q20 1Q21 MRV 2,4 2,2 1,9 1,9 1,9 1,8 1,4 1,2 1,3 1,6 1,1 2,0 1,8 2,2 1,8 1,4 1,7 2,2 2,2 1,9 1,7 1,9 2,4 1,9 1,4 Accounts Receivable 2Q21 3Q21 4Q21 1Q22 DIRECIONAL 2Q22 3Q22 4Q22 TRIS3 264 EVEN3 254 MRVE3 229 4Q22 R$ 1,025 MM 155 days GFSA3 240 33% 33% 32% 32% 33% 32% 32% 30% 31% DIRR3 114 29% 29% 29% 27% 28% 28% 26% 26% 25% 23% 23% 1% 2% 1% 2% 21% 920% 8% 8% 5%6% -20% 7% 7% 5% 4% 5%4% 5% 3% 0% 15% 15% 17% 8% 16% 18% 0% 16% 18% 19% 16% 5% 3%83% 1% TH 15% 3% 2% 1% TEND3 155 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 CYRE3 183 Outstanding management of sales and accounts receivables significantly reduces working capital TCSA3 221 Tenda MRV DIRECIONAL Engenharia Days of Accounts Receivable 4Q22 313 357 15#16Cash, Leverage and Capital Distribution The company goes through a moment of post-Covid, but remains strategically well-positioned in the low-income housing segment in Brazil - Net Debt Covenants R$ million 15% -35% 85% 85% 80% 80% 80% 80% 75% 50% 50% 30% 30% 66% 55% 15% 15% 15% 15% 43% 15% 32% 33% 10% 11% 10% 1Q21 2Q21 3Q21 4Q21 1022 2Q22 3Q22 4Q22 Corporate Net Debt/ Shareholder's Equity - Reported 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 Corporate Net Debt/ Shareholder's Equity - Adjusted 4Q24 25+ Covenants Debt Profile R$ million 590 340 220 169 154 2023 2024 2025 2026 2027 onwards 16#17" ☐ Cash, Leverage and Capital Distribution Cash Generator Business Model Mortgage transfer right after sales Fast construction cycle Accelerated cash flow generation The company goes through a moment of post-Covid, but remains strategically well-positioned in the low-income housing segment in Brazil Cash Generation R$ million 323 134 139 265 246 70 22 31 Minimum Cash " Minimum cash equivalent to: ☐ 3 months of operational cash outflows Debt (short term) " Land (short term) Capital Distribution ■ Stock buyback ☐ Dividends payment Impacto desvio de custo P&L 15 1Q22 43 2Q22 -13 2013 2014 2015 2016 2017 2018 2019 2020 2021 -297 2022 -38% 76 47 3Q22 4Q22 | We see 2023 as the last year of crossing this new turnaround started in 3Q21, when we detected worse than expected inflationary pressures and execution challenges in the context of the pandemic. It should be noted that our cost variances should follow this new downward trend, the expectation is that approximately 80% of the most problematic works in terms of cost deviations (launched by Dec/2021) end by the end of | 2Q23, which ensures a significant recovery of margins | expected for the second half of 2023. | Note: (1) Distribution Yield = Capital Distribution LTM / Market Cap LTM. Market Cap LTM calculated based on TEND3 average price in the last 12 months 17#18Click here to check Earnings Release 4Q22#19Strategy The segment and our business model enable a resumption of growth, in addition, Tenda is developing an innovative business model, based on offsite construction, to reach new markets#20Growth Strategy Tenda's target markets would expand from the current 13 major metropolitan regions to all medium-sized cities in Brazil Potential demand with aluminium forms + offsite Target markets Actual Model 1,000 units/year Target Market offsite Actual Model + Offsite Full Potential Future (thousands units) ~30.0 ~61.2 31.2 Increment with Offsite Full Potential (actual model) Full Potential Future 20#21Growth Strategy Tenda will approach this Market creating a competitive advantage through off-site industrialization, using woodframe tecnology Different product concepts Two pilot projects under construction and two under approval New tests continue to be performed (products, pricing point, tecnology) 21#22Growth Strategy 2022 was a year of evolution and many learnings for Alea's sustainable growth, we focused on stabilizing the operation at pilot scale to accelerate growth in 2023 Pilot scale Operational > > and learning Ramp-up (Acceleration) Full Potential of Plant 1 (10,000 units) 2021 2022 2023 2024 2025 2026+ Financial > > Capex (plant) Investment period (cash consumption and loss) Source: Company Profit and cash (positive) Stabilization (economics) 22#23Tree-lined lanes#24Single storey houses#25Growth Strategy Learning from the operation until 2022 resulted in an exposure of between R$50m and R$100m less than expected for the Lessons learned from the operation until 2022 allowed development of cash planning for the coming years resulting in an exposure between R$50m and R$100m less than expected. Source: Tenda Day 2022 Cash Consumption 2020 to 2024 (R$ million) 400 300 300 250 Expectation Previous Expectation Current 25#26ESG#27ESG pillars Social inclusion Properties affordable by Low-income families B3 COMPANY FULLY DEDICATED TO PROJECTS IN CASA VERDE E AMARELA AVERAGE MONTHLY FAMILY INCOME PROGRAM (R$, jan/22 to dec/221) Closer to the floor value than bracket 2 of PCVA 2,806 4,000 Respect for clients and employees Clients receive the housing units within schedule 100% OF PROJECTS LAUNCHED AFTER 2013 WERE DELIVERED WITHIN SCHEDULE Most employees directed hired 5,757 EMPLOYEES Commitment to ethics and governance Culture focused on ethical conduct Ethics Committee coordinated by the CEO ✓ Ethics Code for employees and suppliers ✓ Preliminary Assessment og suppliers ✓ Independent Reporting Hotline 2,000 AVERAGE PRICE PER UNIT SOLD (R$ thous, 4Q222) 218 190 Tenda PCVA 74% ARE DIRECTLY HIRED BY Own employees in ~ 100% of the tower's activities TENDA 0000 SAFE ENVIRONMENT: INDUSTRIAL RISK MONITORING STANDARDS Source: (1) Based on gross sales between jan/22 and dec/22; (2) Weighted average price between MRV (100%), Directional (only PCVA 2 and 3), Plano & Plano and Cury; (3) Based on Tenda's CVM 586 form; (4) According to the management proposal approved at the AGM for the year 2021 Reference Governance 90% COMPLIANT WITH IBGC'S BEST PRACTICES IN 20193 A Novo Mercado Company All board members are independent All the directors are statutory officers, with 20% of compensation linked to long term incentives 27#28Corporate Governance Tenda is listed on the B3 Novo Mercado, highest level of Corporate Governance in the Brazilian stock market Board of Directors Board of Executive Officers NOVO MERCADO Highest level of Corporate Governance at B3: - 100% commom shares (ON) Tag along de 100% Tenda Independent Board of Directors 100% Novo Mercado¹ 45% Qualified and experienced team, with years of experience in the sector... No family relationship 0% 43% Rodrigo Osmo CEO Tenda Novo Mercado¹ Individual performance evoluation Sim 69% Renan Sanches COO Financial Committee Yes 83% Luiz Mauricio CFO e DRI With Independent members 100% 34% 7 independent members, elected for 2 years-terms Installed Fiscal Council Yes 54% Daniela Ferrari Operations Officer Compensation Committee Rodolpho Amboss Flávio Menezes Antonoaldo Neves Yes 17% Ethics Executive Committee Yes N/A Cláudio Andrade Investment Executive Committee Yes N/A (Chairman) Cristina Caresia HR Officer Rodrigo Hissa Operations Officer Luciano Do Amaral Operations Officer Fabrício Arrivabene Operations Officer Alexandre Millen Operations Officer Alexandre Regis Operations Officer André Massote Operations Officer Luis Martini COO Alea ...but also adding new skills Executive Committee for Yes N/A Maurício Luchetti Mário Mello Michele Robert Weliton Luiz Operations Officer Marcelo Melo Regulation and Strategy Alex Hamada Internal Financial Committee Yes 90% Strategic Risk Management Policy Yes 74% ...and with directors dedicated to offsite construction Compensation based on long-term performance, ensuring alignment with shareholders Related Party Transaction Policy Yes N/A • Yes Board of Directors Nominating Policy Source: Tenda, KPMG ("A Governança Corporativa e o Mercado de Capitais", edition 2021/2022) Note: (1) Average of the companies of Novo Mercado in B3, according to the KPMG's report N/A 2022: 20% long-term incentives, 50% fixed remuneration and 30% short-term incentives • Long-term incentives: stock options programs that reward the result of a 3-year period 28#29Shareholders and Stock Performance Ownership Structure % of total issued shares (April 3, 2023) In January 2019, the Tenda entered the theoretical portfolio of the IBRX 100. Stock Performance TEND3. As of December 30, 2022 28.94% 10.21% 5.03% 5.00% 2.95% 1.74% 46.13% 30 Days 90 Days 180 Days Polo Capital Gestão de Recursos Directors and Pátria Investimentos Total Return Investment LLC Oceana Investimentos Treasury Shares Board of Directors Others ADTV1 R$ 14.6 mi R$ 20.8 mi R$ 22.3 mi Performance -5.8% -41.1% 8.2% Construtora Tenda S/A Stock Performance TEND3 and IBRX100. Performance from December 28, 2017 to December 30, 2022. December 28, 2017 = 0. TEND3 -IBRX 100 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 47.2% -55.2% Indice IBRX Indice Small Cap SMLL Indice Imobiliari IMOB Indice de Ações com Governança Corporativa Diferenciada Source: Reference Form - Tenda; B3; Material Facts - Tenda IGC Indice de Governança Corporativa Novo Mercado IGC-NM Indice de Ações com Tag Along Diferenciado ITAG Indice de Consumo ICON Indice de Governança Corporativa IGCT Indice Brasil Amplo BM&FBOVESPA IBRA Notes: (1) ADTV: Average Daily Trading Volume; (2) B3 Negotiability Index ranks the companies that make up the IBrX100 index. which contains the 100 most traded shares of B3 Indice do Setor Industrial INDX 29#30Tenda