Investor Presentaiton

TOTVS Company Highlights Market Cap - Largest ERP software provider in Brazil - Focus on small and mid-sized enterprises - 40% market share in Brazil. Over 60% in core markets (less than 250 employees) R$ 3.6 billion Value Creation Drivers Significant barriers to entry in distribution/sales/implementation - More than 450,000 companies with revenues larger than US$ 8 million and less than 250 employees - Penetration of ERP software below 8% - Trend towards formalization (less "tax flexibility") accelerating growth in penetration DYNAMO Administração de Recursos

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