<SEC-DOCUMENT>0001292814-22-004499.txt : 20221116
<SEC-HEADER>0001292814-22-004499.hdr.sgml : 20221116
<ACCEPTANCE-DATETIME>20221116163609
ACCESSION NUMBER:		0001292814-22-004499
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20220930
FILED AS OF DATE:		20221116
DATE AS OF CHANGE:		20221116

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Zenvia Inc.
		CENTRAL INDEX KEY:			0001836934
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40628
		FILM NUMBER:		221395629

	BUSINESS ADDRESS:	
		STREET 1:		AVENIDA PAULISTA, 2300, 18TH FLOOR
		STREET 2:		SUITES 182 & 184
		CITY:			SAO PAULO, SAO PAULO
		STATE:			D5
		ZIP:			01310-300
		BUSINESS PHONE:		55 11 4837-7440

	MAIL ADDRESS:	
		STREET 1:		AVENIDA PAULISTA, 2300, 18TH FLOOR
		STREET 2:		SUITES 182 & 184
		CITY:			SAO PAULO, SAO PAULO
		STATE:			D5
		ZIP:			01310-300
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>zenvfs3q22_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16 UNDER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the month of November  2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;Commission File Number 333-</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Zenvia Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>N/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Translation of registrant&rsquo;s name into English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Avenida Paulista, 2300, 18th Floor, Suites 182 and
184</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>S&atilde;o Paulo, S&atilde;o Paulo, 01310-300</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Brazil</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(</B>Address of principal executive office)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form
20-F&nbsp;</FONT><FONT STYLE="font-family: Wingdings">x</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;Form 40-F&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate by check
mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate by check
mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt/115% Nunito Sans; margin: 0">&nbsp;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 88%; padding: 0.75pt 5.75pt"><FONT STYLE="font-family: New York, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%; padding: 0.75pt 5.75pt"><FONT STYLE="font-family: New York, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-family: New York, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">
    <P STYLE="font: 40pt/70% Nunito Sans; margin: 0 0 0 5.75pt">Zenvia<BR>
 Inc.</P>
    <P STYLE="font: 11pt Nunito Sans; margin: 0.25in 0 0 5.75pt"><B>Unaudited Interim<BR>
condensed consolidated financial statements as<BR>
of September
    30, 2022</B></P></TD>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-family: New York, Helvetica, Sans-Serif; font-size: 13pt"><B>&nbsp;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-family: New York, Helvetica, Sans-Serif; font-size: 22pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-family: New York, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-family: New York, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 80pt/70% Nunito Sans; margin: 0">Contents</P>

<P STYLE="font: 80pt/70% Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0"><B></B></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 10pt Nunito Sans">
<TR STYLE="vertical-align: top">
  <TD STYLE="padding-left: 10pt; text-indent: -0.01pt; width: 90%"><B>Unaudited condensed consolidated statements of financial position</B></TD>
  <TD STYLE="text-align: right; padding-left: 10pt; text-indent: -0.01pt; width: 10%"><B>1</B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Nunito Sans; margin: 0"><B>&nbsp;</B></P>

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<TR STYLE="vertical-align: top">
  <TD STYLE="padding-left: 10pt; text-indent: -0.01pt; width: 90%"><B>Unaudited condensed consolidated statements of profit or loss and other comprehensive income</B></TD>
  <TD STYLE="text-align: right; padding-left: 10pt; text-indent: -0.01pt; width: 10%"><B>2</B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Nunito Sans; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 10pt Nunito Sans">
<TR STYLE="vertical-align: top">
  <TD STYLE="padding-left: 10pt; text-indent: -0.01pt; width: 90%"><B>Unaudited condensed consolidated statements of changes in equity </B></TD>
  <TD STYLE="text-align: right; padding-left: 10pt; text-indent: -0.01pt; width: 10%"><B>3</B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Nunito Sans; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 10pt Nunito Sans">
<TR STYLE="vertical-align: top">
  <TD STYLE="padding-left: 10pt; text-indent: -0.01pt; width: 90%"><B>Unaudited condensed consolidated statements of cash flow </B></TD>
  <TD STYLE="text-align: right; padding-left: 10pt; text-indent: -0.01pt; width: 10%"><B>4</B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Nunito Sans; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 10pt Nunito Sans">
<TR STYLE="vertical-align: top">
  <TD STYLE="padding-left: 10pt; text-indent: -0.01pt; width: 90%"><B>Notes to the unaudited interim condensed consolidated financial statements </B></TD>
  <TD STYLE="text-align: right; padding-left: 10pt; text-indent: -0.01pt; width: 10%"><B>5</B></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>



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<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD>
  <TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P>

<P STYLE="font: 9pt Nunito Sans; margin: 0"><B>Unaudited condensed consolidated statements of financial position as of<BR>
September 30, 2022</B></P>

<P STYLE="margin: 0; font: 8pt Nunito Sans"><B><I>(In thousands of Reais)</I></B></P></TD></TR>
</TABLE>

<P STYLE="font: 11pt Nunito Sans; margin: 0"></P>

<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 60%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Assets</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Note</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>September 30, 2022</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>December 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt; color: #7030A0"><B><U>Current assets</U></B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Cash and cash equivalents</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">6</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">121,093</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">582,231</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Trade and other receivables</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">7</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">147,413</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">142,407</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Derivative financial instruments</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">74</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Tax assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">30,266</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">15,936</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Prepayments</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">5,511</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">20,918</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Other assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">5,841</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">4,493</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Total current assets</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>310,124</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>766,059</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt; color: #7030A0"><B><U>Non-current assets</U></B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Tax assets&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">195</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">112</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Prepayments&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">2,539</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">2,271</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Other Assets&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">39</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">37</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Financial investment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">6</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">7,831</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">7,005</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Deferred tax assets&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">19</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">27,193</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">2,276</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Property, plant and equipment&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">8</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">19,413</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">15,732</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Intangible assets and goodwill&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">9</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">1,521,321</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">1,050,357</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Total non-current assets</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1,578,531</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1,077,790</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Total assets</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1,888,655</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1,843,849</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Nunito Sans; margin: 0">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD>
  <TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P>

<P STYLE="font: 9pt Nunito Sans; margin: 0"><B>Unaudited condensed consolidated statements of financial position as of<BR>
September 30, 2022</B></P>

<P STYLE="margin: 0; font: 8pt Nunito Sans"><B><I>(In thousands of Reais)</I></B></P></TD></TR>
</TABLE>

<P STYLE="font: 11pt Nunito Sans; margin: 0 0 0 0.5in; text-indent: -1in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 60%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Liabilities</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Note</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>September 30, 2022</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>December 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt; color: #7030A0"><B><U>Current liabilities</U></B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Loans and borrowings&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">86,900</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">64,415</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Trade and other payables&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">11</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">232,957</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">144,424</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Liabilities from acquisitions&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">14</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">70,214</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">176,069</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Tax liabilities&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">15,665</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">15,736</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Employee benefits&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">42,085</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">21,926 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Lease liabilities&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">1,718</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">2,220</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Deferred revenue&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">11,218</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">4,582</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Taxes to be paid in installments &nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">395</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">511</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Total current liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>461,152</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>429,883</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt; color: #7030A0"><B><U>Non-current liabilities </U></B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Liabilities from acquisitions&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">14</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">209,131</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">60,220 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Trade and other payables&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">11</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">1,260</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">936</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Loans and borrowings&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">91,398</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">143,723</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Employee benefits&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">39</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Lease liabilities&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">2,431</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">2,038</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Provisions for labor, tax and civil risks&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">13</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">481</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">1,369</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Taxes to be paid in installments&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">503</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">722</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Deferred tax liabilities&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">19</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">1,756</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Total non-current liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>305,243</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>210,764 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt; color: #7030A0"><B><U>Equity </U></B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Capital </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">15</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">957,525</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">957,523</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Reserves </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">15</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">261,186</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">261,237 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Accumulated losses </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(96,317)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(15,558)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Equity holders of the parent company</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1,122,394</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1,203,202</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Non-controlling interests</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(134)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Total Equity</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1,122,260</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1,203,202 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Total equity and liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1,888,655</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1,843,849</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Nunito Sans; margin: 0">See the accompanying notes to the interim condensed consolidated financial statements.<BR STYLE="clear: both">
</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD>
  <TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P>
<P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P>

<P STYLE="font: 8.5pt Nunito Sans; margin: 0"><B>Unaudited condensed consolidated statements of profit or loss and other comprehensive<BR>
income for the three and nine-months periods ended September 30, 2022 </B></P>

<P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of Reais)</I></B></P>
<P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I>&nbsp;</I></B></P></TD></TR>
</TABLE>
<P STYLE="color: white; font: 8pt Nunito Sans; margin: 0 0 0 0.5in; text-align: justify; text-indent: -1in"><B>Profit and loss</B></P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Note</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Three months ended&nbsp;September&nbsp;30,</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Nine months ended&nbsp;September 30,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 48%; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="width: 2%; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Revenue</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">16</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">180,351</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">163,716</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">581,829</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">422,061</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Cost of services</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">17</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(106,374)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(110,914)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(382,380)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(297,500)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>Gross profit</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>73,977</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>52,802</B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>199,449</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>124,561</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt; color: #7030A0"><B><U>Operating expenses</U></B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Sales and marketing expenses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">17</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(34,389)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(22,314)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(90,579)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(60,514)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">General and administrative expenses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">17</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(33,158)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(79,489)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(107,498)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(126,678)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Research and development expenses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">17</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(17,395)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(5,091)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(46,588)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(16,100)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Allowance for expected credit losses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">17</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(1,044)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(1,407)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(5,041)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(4,653)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Other income and expenses, net </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(8,976)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,939</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(28,960)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,759</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>Operating loss</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(20,985)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(53,560)</B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(79,217)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(81,625)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt; color: #7030A0"><B><U>Financial Income (Expenses)</U></B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Finance expenses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">18</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(24,169)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(10,838)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(55,647)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(37,807)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Finance income</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">18</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">6,956</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">2,427</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">28,506</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">21,092</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>Net finance costs</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(17,213)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(8,411)</B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(27,141)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(16,715)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>Loss before taxes</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(38,198)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(61,971)</B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(106,358)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(98,340)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt; color: #7030A0"><B><U>Income Tax and Social Contribution</U></B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Deferred income tax and social contribution</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">19</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">10,793</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">3,856</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">26,678</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">13,512</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Current income tax and social contribution</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">19</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(399)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(1,458)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(1,122)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(2,090)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>Total Income Tax and Social Contribution</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>10,394</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2,398</B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>25,556</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>11,422</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>Loss of the period</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(27,804)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(59,573)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(80,802)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(86,918)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt; color: #7030A0"><B><U>Loss attributable to:</U></B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Owners of the Company</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(27,777)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(59,573)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(80,759)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(86,918)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Non-controlling interests</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(27)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(43)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt; color: #7030A0"><B><U>Other comprehensive income</U></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Items that are or may be reclassified subsequently to profit or loss</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Cumulative translation adjustments from operations in foreign currency</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">3,177</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">25,010</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(17,687)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">26,422</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>Total comprehensive loss for the period</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(24,627)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(34,563)</B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(98,489)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(60,496)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt; color: #7030A0"><B><U>Loss earnings per share (expressed in Reais per share)</U></B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Basic</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">20</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(0.667)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(1.442)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(1.942)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(2.103)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Diluted</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">20</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(0.667)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(1.442)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(1.942)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(2.103)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Nunito Sans; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Nunito Sans; margin: 0; text-align: justify">See the accompanying notes to the interim condensed consolidated financial
statements.</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD>
  <TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P>
<P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0"></P>
<P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I></I></B></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P>

<P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Unaudited condensed consolidated statement of changes in equity </B></P>

<P STYLE="font: 8pt Nunito Sans; margin: 0"><B>For the nine months period ended September 30, 2022 </B></P>

<P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P>
<P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I>&nbsp;</I></B></P>
<P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I>&nbsp;</I></B></P></TD></TR>
</TABLE>
<P STYLE="color: white; font: bold 8pt/13pt Nunito Sans; margin: 0 0 0 0.5in; text-indent: -1in">Changes in equity</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 7pt; color: black"><B>Reserves</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 35%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 7pt; color: black"><B>Capital</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 7pt; color: black"><B>Capital reserve</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 7%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 7pt; color: black"><B>Legal reserve</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 8%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 7pt; color: black"><B>Investments reserve</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 7%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 7pt; color: black"><B>Translation reserve</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 7pt; color: black"><B>Retained earnings (loss)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 7pt; color: black"><B>Attributable to owners of the Company</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 7pt; color: black"><B>Non-controlling interests</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 7pt; color: black"><B>Total equity</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt; color: black"><B>Balance at December 31, 2020 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;130,292 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;&nbsp;-&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,854 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,600 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,033 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;(21,431)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;115,348 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>- </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;115,348 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt; color: black">Loss for the period </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;(86,918)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;(86,918)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;(86,918)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt; color: black">Corporate reorganization</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">(130,286)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;&nbsp;87,146 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;&nbsp;&nbsp;(3,854)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;&nbsp;&nbsp;(1,600)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;&nbsp;&nbsp;(1,925)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;&nbsp;50,519 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>- </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>- </B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt; color: black">Issuance of common stock in connection with a initial public offering</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;&nbsp;&nbsp;1,031,355 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;&nbsp;&nbsp;&nbsp;1,031,355 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;&nbsp;&nbsp;&nbsp;1,031,355 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt; color: black">Costs related to the initial public offering</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;(78,788)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;(78,788)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;(78,788)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt; color: black">Additional paid-in capital (share swap)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,070 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;137,279 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;138,349 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;138,349 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt; color: black">&nbsp;Cumulative translation adjustments from operations in foreign currency</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;&nbsp;26,422 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;&nbsp;&nbsp;26,422 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;&nbsp;&nbsp;26,422 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt; color: black">Share-based compensation</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;&nbsp;(24)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;&nbsp;(24)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;&nbsp;&nbsp;(24)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt; color: black"><B>Balance at September 30, 2021</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;953,643 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;224,401 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>- </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>- </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;&nbsp;&nbsp;25,530 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;(57,830)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;&nbsp;&nbsp;&nbsp;1,145,744 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>- </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;&nbsp;&nbsp;&nbsp;1,145,744 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt; color: black"><B>Balance at December 31, 2021 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;957,523 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;226,599 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;&nbsp;-&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;&nbsp;-&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;&nbsp;&nbsp;34,638 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;(15,558)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;&nbsp;&nbsp;&nbsp;1,203,202 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>- </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>&nbsp;&nbsp;&nbsp;&nbsp;1,203,202 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt; color: black">Loss for the period </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">(80,759)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>(80,759)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">(43)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>(80,802)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt; color: black">Cumulative translation adjustments from operations in foreign currency</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">(17,687)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">(17,687)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">(17,687)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt; color: black">Issuance of shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">1</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">411</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">412</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">412</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt; color: black">Share-based compensation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">1,486</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">1,486</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">1,486</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt; color: black">Issuance of shares related to business combinations&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">1</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">15,739</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">15,740</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">15,740</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt; color: black">Acquisition of subsidiary with NCI</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">(91)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black">(91)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt; color: black"><B>Balance at September 30, 2022</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>957,525</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>244,235</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>- </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>- </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>16,951</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>(96,317)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>1,122,394</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>(134)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt; color: black"><B>1,122,260</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Nunito Sans; margin: 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 9pt Nunito Sans; margin: 0 0 0.25in">See the accompanying notes to the interim condensed consolidated financial statements.</P>


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<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD>
  <TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P>
<P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P>

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<P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P>

<P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Unaudited condensed consolidated statement of cash flows</B></P>

<P STYLE="font: 8pt Nunito Sans; margin: 0"><B>For the nine months period ended September 30, 2022</B></P>

<P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P>
<P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Nine months ended September 30,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 75%; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 12%; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 13%; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt; color: #7030A0"><B><U>Cash flow from operating activities</U></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt"><B>Profit (loss) for the period</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>(80,802)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>(86,918)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt"><U>Adjustments for:</U></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;Tax (income) expenses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(25,556)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(13,512)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;Depreciation and amortization</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">54,296</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">26,960</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;Allowance for expected credit losses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">5,450</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">4,653</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;Provisions for tax, labor and civil risks risks </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">1,884</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(875)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;Provision for bonus and profit sharing</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">10,775</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">9,590</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;IPO Bonus (Cash and share-based payment)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">48,072</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;Share-based compensation</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">2,866</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(24)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;Provision for earn-out and compensation</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">25,358</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">14,246</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;Interest from loans and borrowings</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">22,888</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">10,820</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;Interest on leases</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">421</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">239</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;Exchange variation gain&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">5,022</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(2,708)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;Loss for non-use of the advance payment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">5,529</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;Loss on write-off of property, plant and equipment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">167</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">974</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;Effect of hyperinflation</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">6,709</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">1,018</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt"><B><U>Changes in assets and liabilities</U></B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Trade and other receivables</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">10,869</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(38,008)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Interest earning bank deposits</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(826)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Prepayments</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">9,610</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(36,075)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Other assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(7,920)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(15,293)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Suppliers</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">68,926</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">5,711</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Employee benefits</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">5,318</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(38,637)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Other liabilities</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(16,712)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">3,184</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Lease liabilities</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">2,418</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt"><B>Cash generated from (used in) operating activities</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>104,272</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>(104,165)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Interest paid on loans and leases</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(22,734)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(10,650)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Income taxes paid</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(1,050)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt"><B>Net cash flow from (used in) operating activities</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>81,538</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>(115,865)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt; color: #7030A0"><B><U>Cash flow from investing activities</U></B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Acquisition of subsidiary, net of cash acquired</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(300,075)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(358,646)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Acquisition of property, plant and equipment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(10,291)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(8,426)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Additions bank deposit</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(4,593)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Acquisition of Intangible assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(30,995)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(12,296)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt"><B>Net cash used in investment activities</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>(341,361)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>(383,961)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt; color: #7030A0"><B><U>Cash flow from financing activities</U></B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Capital increase - public offering</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">1,031,355</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Issue cost &ndash; public offering</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(78,788)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Proceeds from loans and borrowings</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">20,000</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">151,428</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Repayment of borrowings</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(49,114)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(34,103)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Payment of lease liabilities</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(2,458)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(944)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Payments for investments acquired in installments</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(152,057)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(51,159)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Capital increase</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">1</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">5,538</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt"><B>Net cash from (used in) financing activities</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>(183,628)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>1,023,327</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Exchange rate change on cash and cash equivalents</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">(17,687)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">26,422</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt"><B>Net (decrease) increase in cash and cash equivalents</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>(461,138)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>549,924</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Cash and cash equivalents at January 1</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt; background-color: white">582,231</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">59,979</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Cash and cash equivalents at September 30</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">121,093</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">609,903</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Nunito Sans; margin: 0">See the accompanying notes to the interim condensed consolidated financial statements.</P>


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<P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I></I></B></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0"></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P>

<P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Notes to the unaudited interim condensed consolidated </B></P>

<P STYLE="font: 8pt Nunito Sans; margin: 0"><B>financial statements</B></P>

<P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P>
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<TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">1.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Operations</FONT></TD></TR></TABLE>

<P STYLE="font: 8pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">Zenvia Inc. (&ldquo;Company&rdquo; or &ldquo;Zenvia&rdquo;) was incorporated
in November 2020, as a Cayman Islands exempted company with limited liability duly registered with the Registrar of Companies of the Cayman
Islands. These unaudited interim condensed consolidated financial statements comprise the Company and its subsidiaries (together referred
to as &ldquo;the Group&rdquo;). The Group is primarily involved in the development of a cloud-based platform that enables organizations
to integrate several communication capabilities (including short message service, or SMS, WhatsApp, Voice, WebChat and Facebook Messenger)
into their software applications.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">As of September 30, 2022, the Company has negative consolidated working
capital in the amount of R$151,028 (current assets of R$310,124 and current liabilities of R$461,152), mainly arising from a reduction
in our cash position as a result of our Mergers and Acquisitions (&ldquo;M&amp;A&rdquo;) activity.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">Zenvia&rsquo;s Management is confident that it has access to instruments
and alternatives to settle the Company's short-term obligations, including improved cash generation for the next 12 months, the recently
announced renegotiating of certain earn-out payment terms (as detailed in note 23), the renegotiating current outstanding loans (as detailed
in note 10), as well as a review of its corporate structure aimed at reducing the Company&rsquo;s current workforce in line the acceleration
of the integration of acquisitions. Therefore, although the Company has presented losses in recent periods, Zenvia's Management understands
that the Company will be operating with positive profitability metrics in a foreseeable future.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 12pt; color: black"><B>a.</B></FONT></TD><TD><FONT STYLE="font-size: 12pt; color: black"><B>Business combination &ndash; Direct One (</B></FONT><B><FONT STYLE="font-size: 12pt">&ldquo;<FONT STYLE="color: black">D1</FONT>&rdquo;<FONT STYLE="color: black">)
</FONT></FONT></B></TD></TR></TABLE>

<P STYLE="font: 10pt/115% Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">On July 31, 2021, Zenvia Mobile Servi&ccedil;os Digitais S.A. (&ldquo;Zenvia
Brazil&rdquo;) completed the purchase agreement for the acquisition of 100% of the share capital of One To One Engine Desenvolvimento
e Licenciamento de Sistemas de Inform&aacute;tica S.A. &ndash; Direct One, or &ldquo;D1&rdquo;, including its wholly owned subsidiary
Smarkio Tecnologia Ltda. (&ldquo;Smarkio&rdquo;). D1 is a platform that connects different data sources to enable a single customer view
layer, allowing the creation of multichannel communications, generation of variable documents, authenticated message delivery and contextualized
conversational experiences.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify"><FONT STYLE="color: black">At the acquisition date, and under the terms
of this acquisition agreement, the total estimated consideration was R$71</FONT>6,428 <FONT STYLE="color: black">and was comprised of:
(1) (i) Zenvia Brazil contributed R$21,000 in cash into D1 on May 31, 2021, and (ii) on the closing date, July 31, 2021, Zenvia Brazil
contributed further R$19,000 in cash into D1; (2) the Company paid to D1 shareholders R$318,646 in cash; (3) the Company issued 1,942,750
of Class A common shares of Zenvia to certain D1 shareholders, equivalent to R$132,812; and (4) the Company agreed to pay earn-outs to
certain D1 shareholders which, at the acquisition date, was estimated to be (i) R$56,892 in the second quarter of 2022; and (ii) R$168,078
in the second quarter of 2023. </FONT></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify"><FONT STYLE="color: black">On February 15, 2022, the Company decided
to accelerate D1 integration which result</FONT>ed in a <FONT STYLE="color: black">new agreement, replacing the previous amounts estimated,
at the acquisition date, and timing of the earn-outs payments. The new agreement provides that the Company will pay to D1 former shareholders
a total earn-outs amounting of R$164,000. R$124,000 was paid in the first quarter of 2022 and R$40,000 will be paid on March 31, 2023.
</FONT></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">On October 26, 2022, the Company reached an agreement with D1 to extend
the remaining payments. More details are disclosed in Note 23.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">Goodwill arising from the acquisition has been recognized as follows:</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>



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<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 83%; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 17%; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt; color: #7030A0"><B><U>D1</U></B></FONT></TD></TR>

  <TR>
    <TD STYLE="width: 83%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>July 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Consideration transferred</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>716,428</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Cash and cash equivalents</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">59,447</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Trade and other receivables </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">16,516</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Intangible assets and goodwill </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">53,271</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Loans and borrowings</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(63,430)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Other net liabilities</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(17,327)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Intangible assets &ndash;&ndash; Customer portfolio </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,482</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Intangible assets &ndash;&ndash; Digital platform </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">58,489</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Total net assets acquired at fair value</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>108,448</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Goodwill</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>607,980</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The goodwill of R$607,980 comprises the skills and technical talent
of the workforce and the value of future economic benefits arising from the synergies from the acquisition and in line with the strategy
of the Company. At the time of the acquisition, future tax deductibility is probable as certain actions necessary to integrate the businesses
from a tax perspective, are intended by management and considered feasible from a legal perspective.</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 12pt; color: black"><B>b.</B></FONT></TD><TD><FONT STYLE="font-size: 12pt; color: black"><B>Business combination &ndash; Sensedata Tecnologia Ltda (</B></FONT><B><FONT STYLE="font-size: 12pt">&ldquo;<FONT STYLE="color: black">Sensedata</FONT>&rdquo;<FONT STYLE="color: black">)</FONT></FONT></B></TD></TR></TABLE>

<P STYLE="font: 11pt Nunito Sans; margin: 0; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">On November 1, 2021, Zenvia Brazil acquired all the shares of Sensedata
Tecnologia Ltda, referred as &ldquo;SenseData&rdquo; which is a SaaS company that enables businesses to create communication actions and
specific 360&ordm; customer journeys, supported by a customized proprietary scorecard called SenseScore.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify"><FONT STYLE="color: black">Under the terms of the acquisition agreement,
the total consideration transferred and expected to be transferred are as follows: (1) R$30,112 in cash upfront; (2) In May 2022, former
controlling shareholders </FONT>received 94,200 <FONT STYLE="color: black">Zenvia&rsquo;s Class A common shares, equivalent to an amount
of R$6,793; (3) a deferred </FONT>payment due in two installments which (i) <FONT STYLE="color: black">the first payment will be paid
in December 2022 and currently estimated at R$</FONT>13,442<FONT STYLE="color: black">; (ii) the second payment will be paid in December
2023 currently estimated at R$</FONT>21,576; (iii) the deferred payments bear monetary correction indexed to IPCA (Extended National Consumer
Price Index in Brazil) rate accumulated since the closing date, estimated at R$841 which will be paid on the first installment payment
and R$1,261 which will be paid on the second installment payment; (4) an additional earn-out cash structure based on the achievement of
gross profit milestones currently estimated at R$10,411 will be paid in December 2022; (5) an additional earn-out cash structure based
on the achievement of gross profit milestones currently estimated at R$9,347 will be paid in December 2023<FONT STYLE="color: black">.
The range of the two installments and earn-outs outcomes considering the achievement varying from -50% to + 50% is R$35,018 and R$100,349
respectively.</FONT></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The goodwill arising from the acquisition has been recognized as follows:</P>

<P STYLE="font: 7pt Nunito Sans; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 78%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 22%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt; color: #7030A0"><B><U>SenseData</U></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>November 1, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Consideration transferred</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>71,923</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Other net assets, including PPE and cash</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">2,120</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Intangible assets &ndash;&ndash; Customer portfolio </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">720</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Intangible assets &ndash;&ndash; Digital platform </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">48,271</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Total net assets acquired at fair value</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>51,111</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Goodwill</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>20,812</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The goodwill of R$20,812 comprises the skills and technical talent
of the workforce and the value of future economic benefits arising from the synergies from the acquisition and in line with the strategy
of the Company. At the time of the acquisition, future tax deductibility is probable as certain actions, necessary to integrate the businesses
from a tax perspective, are intended by management and considered feasible from a legal perspective.</P>
<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify"></P>


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<P STYLE="font: 11pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 12pt; color: black"><B>c.</B></FONT></TD><TD><FONT STYLE="font-size: 12pt; color: black"><B>Business combination &ndash; Movidesk Ltda. (</B></FONT><B><FONT STYLE="font-size: 12pt">&ldquo;<FONT STYLE="color: black">Movidesk</FONT>&rdquo;<FONT STYLE="color: black">)</FONT></FONT></B></TD></TR></TABLE>

<P STYLE="font: 11pt Nunito Sans; margin: 0; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify"><FONT STYLE="color: black">On May 2, 2022, Zenvia </FONT>Brasil <FONT STYLE="color: black">acquired
9</FONT>8.04<FONT STYLE="color: black">% of shares of Movidesk Ltda., </FONT>referred to as &ldquo;Movidesk&rdquo;, and 1.96% of shares
in options to purchase to be exercised through the payments of the exercise price by Zenvia Brasil<FONT STYLE="color: black">. Movidesk
is a SaaS company that focuses on customer service solutions to define workflows, provide integration with communication channels, and
monitor tickets through dashboards and reports, offering a fully-fledged end-to-end support platform.</FONT></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify"><FONT STYLE="color: black">Under the terms of the acquisition agreement,
the total consideration transferred and expected to be transferred are as follows: (1) R$</FONT>301,258 <FONT STYLE="color: black">paid
in cash in May 2022 and; (2) the former controlling shareholders, and key executives have received 315,820 Zenvia&rsquo;s Class A common
shares</FONT> equivalent to an amount of R$15,740<FONT STYLE="color: black">; and (3) an earn-out structure based on the fulfilling of
gross margin targets until the third quarter of 2023, which is currently estimated at approximately R$</FONT>173,092 <FONT STYLE="color: black">to
be paid in December 2023; and (4) R$8</FONT>,411 <FONT STYLE="color: black">to be paid </FONT>in exercise price of purchase options. The
range of the earn-outs outcomes considering the achievement varying from -50% to + 50% is R$94,441 and R$360,376 respectively.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">On October 26, 2022, the Company reached an agreement with Movidesk
to extend the remaining payments. More details are disclosed in Note 23.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The goodwill arising from the acquisition has been recognized as follows:</P>

<P STYLE="font: 7pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 82%; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 18%; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt; color: #7030A0"><B><U>Movidesk</U></B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>May 2, 2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Consideration transferred</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>485,115</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Other net assets, including PPE and cash</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(3,434)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Intangible assets &ndash;&ndash; Digital platform&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">225,294</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Intangible assets &ndash;&ndash; Customer portfolio </FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">12,049</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Intangible assets &ndash;&ndash; Non-compete</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">4,477</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Total net assets acquired at fair value</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>241,820</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Goodwill</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>246,729</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/115% Nunito Sans; margin: 4.55pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The preliminary goodwill of R$246,729 comprises the skills and technical
talent of the workforce and the value of future economic benefits arising from the synergies from the acquisition and in line with the
strategy of the Company. At the time of the acquisition, future tax deductibility is probable as certain actions, necessary to integrate
the businesses from a tax perspective, are intended by management and considered feasible from a legal perspective.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The fair value of Movidesk&rsquo;s intangible assets (digital platform,
customer portfolio and non-compete) has been measured provisionally by valuation techniques that are summarized below, still subject to
adjustments during the measurement period of 12 months from the acquisition date.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>



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<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: rgb(73,9,104) 1pt solid; width: 21%; border-right: rgb(73,9,104) 1pt solid; border-left: rgb(73,9,104) 1pt solid; padding-top: 0.05pt; padding-right: 3.85pt; text-align: center"><FONT STYLE="font-size: 9.5pt"><B>Assets acquired</B></FONT></TD>
    <TD STYLE="border-top: rgb(73,9,104) 1pt solid; width: 79%; border-right: rgb(73,9,104) 1pt solid; padding-top: 0.05pt; padding-right: 3.85pt; text-align: center"><FONT STYLE="font-size: 9.5pt"><B>Valuation technique</B></FONT></TD></TR>

  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 21%; border-right: #490968 1pt solid; border-bottom: #490968 1pt solid; border-left: #490968 1pt solid; border-top: #490968 2.25pt solid; padding-top: 0.05pt; padding-right: 3.85pt"><FONT STYLE="font-size: 9pt">Intangible assets &ndash; Allocation of the customer portfolio and digital platform</FONT></TD>
    <TD STYLE="width: 79%; border-top: #490968 2.25pt solid; border-right: #490968 1pt solid; border-bottom: #490968 1pt solid"><FONT STYLE="font-size: 9pt">The MPEEM methodology (Multi Period Excess Earnings Method) is mostly used to measure the value of primary assets or most important assets of a company. According to that method, in determining fair values, the cash flows attributable to all other assets are subtracted through a contributory asset charge (CAC). The MPEEM method assumes that the fair value of an intangible asset is the same as the present value of the cash flows attributable to that asset, less the contribution of other assets, both tangible and intangible ones.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">Since the acquisition, Movidesk has generated revenues of R$20,704 and
loss of R$2,183 included in the consolidated financial statements. If the acquisition had occurred on January 1st, 2022, management estimates
that consolidated revenue would have been R$596,027, and consolidated loss for the nine-months period would have been R$82,629. In determining
these amounts, management has assumed that the fair value adjustments, determined provisionally, that arose on the date of acquisition
would have been the same if the acquisition had occurred on January 1st, 2022.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">Due to the size and complexity of the Movidesk operations, at the disclosure
date of this interim financial information, the evaluation by an independent party of the fair value of the assets acquired and liabilities
assumed is preliminary and subject to adjustments up to the purchase price allocation conclusion. If new information obtained within one
year of the date of acquisition about facts and circumstances that existed at the date of acquisition identifies adjustments to the above
amounts, or any additional provisions that existed at the date of acquisition, then the accounting for the acquisition will be revised.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">2.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Company&rsquo;s subsidiaries</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt"><B>September 30, 2022 </B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt"><B>December 31, 2021 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 45%; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt"><B>Country</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt"><B>Direct</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt"><B>Indirect</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt"><B>Direct</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt"><B>Indirect</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt; color: #7030A0"><B><U>Subsidiaries</U></B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>%</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Zenvia Mobile Servi&ccedil;os Digitais S.A.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Brazil</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">MKMB Solu&ccedil;&otilde;es Tecnol&oacute;gicas Ltda.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Brazil</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Total Voice Comunica&ccedil;&atilde;o S.A.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Brazil</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Rodati Motors Corporation</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">USA</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Zenvia M&eacute;xico</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Zenvia Voice Ltda </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Brazil</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">One to One Engine Desenvolvimento e</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Brazil</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;Licenciamento de Sistemas de Inform&aacute;tica S.A.</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Sensedata Tecnologia Ltda.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Brazil</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Rodati Services S.A.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Argentina</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Movidesk S.A.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Brazil</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">98.04</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Rodati Servicios, S.A. de CV</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Rodati Motors Central de Informa&ccedil;&otilde;es de Ve&iacute;culos Automotores Ltda.</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Brazil</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">100</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD><TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Notes to the unaudited interim condensed consolidated </B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>financial statements</B></P><P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P></TD></TR></TABLE></DIV>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">3.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Preparation basis</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">These interim condensed consolidated financial statements for the nine
months periods ended September 30, 2022, have been prepared in accordance with IAS 34, Interim Financial Reporting, and should be read
in conjunction with the Group&rsquo;s last annual consolidated financial statements as at and for the year ended December 31, 2021 (&lsquo;last
annual financial statements&rsquo;). They do not include all the information required for a complete set of financial statements prepared
in accordance with IFRS Standards. However, selected explanatory notes are included to explain events and transactions that are significant
to an understanding of the changes in the Group&rsquo;s financial position and performance since the last annual financial statements.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The issuance of these financial statements was approved by the Executive
Board of Directors on <FONT>November 16, 2022</FONT>.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><B>a.</B></TD><TD><B>Measurement basis</B></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The interim condensed consolidated financial statements were prepared
based on historical cost, except for certain financial instruments measured at fair value, as described in the following accounting practices.
See item (d) below for information on the measurement of financial information of subsidiaries located in hyperinflationary economies.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><B>b.</B></TD><TD><B>Functional and presentation currency</B></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify"><FONT STYLE="color: black">These interim </FONT>condensed consolidated
<FONT STYLE="color: black">financial statements are expressed in thousands of Brazilian Real (R$), which is the Company&rsquo;s functional
currency. For disclosures of amounts in other currencies, the values were also expressed in thousands, unless otherwise stated.</FONT></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: left; width: 0.25in"><B>c.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B></TD>
  <TD><FONT STYLE="font-size: 11pt; color: black"><B>Foreign currency translation</B></FONT></TD></TR>
</TABLE>


<P STYLE="font: 11pt Nunito Sans; margin: 0; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">For the consolidated Group companies in which the functional currency
is different from the Brazilian Real, the financial statements are translated to Real as of the closing date. Monetary assets and liabilities
denominated in foreign currencies are translated into the functional currency at the exchange rate at the reporting date. Non-monetary
assets and liabilities that are measured at fair value in a foreign currency are translated into the functional currency at the exchange
rate when the fair value was determined. Non-monetary items carried at historical cost are reported using the exchange rate at the date
of the transaction. Foreign currency differences are generally recognized in profit or loss and presented within finance costs.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-size: 12pt"><B>d.</B></FONT></TD><TD><FONT STYLE="font-size: 12pt"><B>Accounting and reporting in highly hyperinflationary economy</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">In July 2018, considering that the inflation accumulated in the past
three years in Argentina was higher than 100%, the adoption of the accounting and reporting standard in the hyperinflationary economy
became mandatory in relation to the subsidiary Rodati Services S.A., located in Argentina.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">Non-monetary assets and liabilities, the equity and the statement of
income of subsidiaries that operate in hyperinflationary economies are adjusted by the change in the general purchasing power of the currency,
applying a general price index.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The financial statements of an entity whose functional currency is the
currency of a hyperinflationary economy, whether they are based on the historical or current cost approach, should be expressed in terms
of the current measurement unit at the balance sheet date and translated into Real at the closing exchange rate for the period. The impacts
of changes in general purchasing power were reported as finance costs in the statements of income of the Company.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>



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    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-size: 12pt"><B>e.</B></FONT></TD><TD><FONT STYLE="font-size: 12pt"><B>Use of estimates and judgments</B></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">In preparing these interim condensed consolidated financial statements,
management has made judgements and estimates that affect the application of the Group&rsquo;s accounting policies and the reported amounts
of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are
reviewed on an ongoing basis. Revisions to estimates are recognized prospectively.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The significant judgments made by management in applying the Group&rsquo;s
accounting policies and the key sources of estimation uncertainty were the same as those described in the last annual financial statements.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B><I>(i)</I></B></FONT></TD><TD><FONT STYLE="font-size: 12pt"><B><I>Measurement of fair value</I></B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">A series of Company&rsquo;s accounting policies and disclosures requires
the measurement of fair value, for financial and non-financial assets and liabilities.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">Evaluation process includes the regular review of significant non-observable
data and valuation adjustments. If third-party information, such as brokerage firms&rsquo; quotes or pricing services, is used to measure
fair value, then the evaluation process analyzes the evidence obtained from the third parties to support the conclusion that such valuations
meet the IFRS requirements, including the level in the fair value hierarchy in which such valuations should be classified.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify"><FONT STYLE="color: black">When </FONT>measuring the fair <FONT STYLE="color: black">value
of an asset or liability, the Company uses observable data as much as possible. Fair values are classified at different levels according
to hierarchy based on information (inputs) used in valuation techniques, as follows:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Nunito Sans; margin-top: 6.5pt; margin-bottom: 6.5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&mdash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Level 1: Prices quoted (not adjusted) in active markets for identical assets
and liabilities.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Nunito Sans; margin-top: 6.5pt; margin-bottom: 6.5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&mdash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Level 2: Inputs, except for quoted prices, included in Level 1 which are
observable for assets or liabilities, directly (prices) or indirectly (derived from prices).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Nunito Sans; margin-top: 6.5pt; margin-bottom: 6.5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt; color: black">&mdash;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black">Level 3: Inputs, for assets or liabilities, which are not
based on observable market data (non-observable inputs). </FONT><FONT STYLE="font-size: 10pt">The Company has shares in purchase options
reasonably certain to be exercised through the payments of the exercise price by Zenvia Brasil.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The Company recognizes transfers between fair value hierarchy levels
at the end of the financial statements&rsquo; period in which changes occurred.</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0; text-indent: -0.25in">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD><TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Notes to the unaudited interim condensed consolidated </B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>financial statements</B></P><P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P></TD></TR></TABLE></DIV>
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<P STYLE="font: 11pt Nunito Sans; margin: 0; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">4.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Significant accounting policies</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify"><FONT STYLE="color: black">There have been no changes to the Company's
significant accounting policies as described in its annual financial statements for the year ended December 31, 2021 which should be read
in conjunction with these </FONT>interim condensed consolidated financial statements.</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">5.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">New standards, amendments, and interpretations of standards</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">The following amended standards are effective for annual periods beginning on or after January
1, 2022. The following amended standards and interpretations do not have a material impact on the Company&rsquo;s consolidated financial
statements:</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0 0 0 14.2pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Noto Sans Symbols">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16);</FONT></P>

<P STYLE="font: 11pt Nunito Sans; margin: 0 0 0 14.2pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Noto Sans Symbols">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Classification of Liabilities as Current or Non-current (Amendments to IAS 1);</FONT></P>

<P STYLE="font: 11pt Nunito Sans; margin: 0 0 0 14.2pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Noto Sans Symbols">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Annual improvements to IFRS Standards 2019-2020; and</FONT></P>

<P STYLE="font: 11pt Nunito Sans; margin: 0 0 0 14.2pt; text-align: justify; text-indent: -7.1pt"><FONT STYLE="font-family: Noto Sans Symbols">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Amendment to IFRS 3, adding an explicit statement that an acquirer does not recognize contingent
assets acquired in a business combination.</FONT></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">6.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Cash and cash equivalents and financial investments</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 55%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 23%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>September 30, 2022</B></FONT></TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>December 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Cash and banks</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">37,284</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">235,472</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Short-term investments maturing in up to 90 days (a)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">83,809</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">346,759</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Financial investments (b)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">7,831</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">7,005</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>128,924</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>589,236</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Cash and cash equivalents</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">121,093</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">582,231</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Financial investments</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">7,831</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">7,005</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Nunito Sans; margin: 0 0 0 0.75in; text-indent: -0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt; color: black">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black">Hi<FONT STYLE="background-color: white">ghly liquid short-term
interest earning bank deposits are readily convertible into a known amount of cash and subject to an insignificant risk of change of value.
They are substantially represented by interest earning bank deposits at rates varying </FONT>from 75% to 10</FONT><FONT STYLE="font-size: 10pt">3<FONT STYLE="color: black">%
of the CDI rate (Interbank Interest Rate in Brazil). </FONT></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt; color: black">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">As of September 30, 2022, the return on such i<FONT STYLE="color: black">nvestments
</FONT>is equivalent to 183<FONT STYLE="color: black">% of the CDI. The assets are mainly composed of Direct Lending, Securitization and
Agribusiness. Those investments are held as guarantee of the debentures borrowing contract entered into in May 2021.</FONT></FONT></TD></TR></TABLE>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD><TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Notes to the unaudited interim condensed consolidated </B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>financial statements</B></P><P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P></TD></TR></TABLE></DIV>
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<P STYLE="font: 11pt Nunito Sans; margin: 0; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">7.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Trade and other receivables </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 69%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>September 30, 2022</B></FONT></TD>
    <TD STYLE="width: 16%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>December 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Domestic</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">154,962</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">140,573</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Abroad</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">3,427</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">2,863</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Related party (a)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">7,269</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>158,389</B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>150,705</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Allowance for expected credit losses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(10,976)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(8,298)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>147,413</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>142,407</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Nunito Sans; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(a)</TD><TD><FONT STYLE="font-size: 8pt">The outstanding balances are related to the Company&acute;s shareholder Twilio Inc. (note 22) which had
ordinary SMS transactions with the Company. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">As of September 30, 2022 and December 31, 2021, the Company&rsquo;s
changes in allowance for expected credit losses are as follows:</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 70%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>September 30, 2022</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>December 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Balance at the Beginning of the Fiscal Year</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(8,298)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(6,087)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Additions</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(5,899)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(8,508)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Reversal</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">449</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">2,205</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Additions due to acquisitions</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(36)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Write-offs</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">2,808</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">4,092</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Balance at the End of the Period</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(10,976)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(8,298)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The Company performs write-offs of trade accounts receivable against
the allowance for expected credit losses past due over 180 days as this is the period for which management believes there is no reasonable
expectation that accounts receivable will be recovered.</P>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD>&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD><TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Notes to the unaudited interim condensed consolidated </B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>financial statements</B></P><P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The breakdown of accounts receivable from customers by maturity is as
follows:</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 68%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>September 30, 2022</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>December 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Current</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">135,532</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">129,177</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><U>Overdue (days):</U></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">1&ndash;30</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">4,466</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">7,295</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">31&ndash;60</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">2,187</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">2,555</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">61&ndash;90</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,182</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,466</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">91&ndash;120</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,477</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,337</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">121&ndash;150</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,822</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,018</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">&gt;150</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">11,723</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">7,857</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>158,389</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>150,705</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">8.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Property, plant and equipment </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">8.1.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Breakdown of balances </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 35%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 21%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Average annual depreciation rates (%)</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Cost</B></FONT></TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Accumulated depreciation</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Net balance September 30, 2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Furniture and fixtures</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,440</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(650)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">790</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Leasehold improvements</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">2,710</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,336)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,374</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Data processing equipment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">20</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">24,730</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(11,539)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">13,191</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Right of use &ndash; leases </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">20 to 30</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">4,845</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(897)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">3,948</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Machinery and equipment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">351</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(289)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">62</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Other fixed assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">10 to 20</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">199</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(151)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">48</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right; text-indent: 9.05pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>34,275</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(14,862)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>19,413</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 31%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 23%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Average annual depreciation rates (%)</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Cost</B></FONT></TD>
    <TD STYLE="width: 16%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Accumulated depreciation</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Net balance December 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Furniture and fixtures</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,169</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(597)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">572</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Leasehold improvements</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">2,177</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,086)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,091</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Data processing equipment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">20</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">19,091</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(9,061)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">10,030</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Right of use &ndash; leases </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">20 to 30</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">6,943</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(3,097)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">3,846</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Machinery and equipment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">408</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(330)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">78</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Other fixed assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">10 to 20</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">332</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(217)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">115</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right; text-indent: 9.05pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>30,120</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(14,388)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>15,732</B></FONT></TD></TR>
  </TABLE>

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<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">8.2.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Changes in property, plant and equipment </FONT></TD></TR></TABLE>

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  <TR>
    <TD STYLE="width: 26%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Average annual depreciation rates %</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>December 31, 2021</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Additions</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Additions due to acquisitions</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Disposals</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Hyperinflation adjustment</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Transfers</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Exchange variations</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>September 30, 2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Furniture and fixtures</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,169</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">3</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">384</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(69)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(23)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(24)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,440</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Leasehold improvements </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">2,177</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">759</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(226)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">2,710</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Data processing equipment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">19,091</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">5,087</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,161</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(638)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">151</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(122)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">24,730</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Right of use &ndash; leases</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">6,943</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">5,198</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(7,262)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(34)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">4,845</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Machinery and equipment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">408</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(57)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">351</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Other fixed assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">332</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">3</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">5</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(74)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(35)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(32)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">199</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Cost</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>30,120</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>10,291</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2,309</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(8,326)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>93</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(34)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(178)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>34,275</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Furniture and fixtures</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt">10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(597)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(117)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">41</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">12</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">11</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(650)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Leasehold improvements</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt">10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,086)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(362)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">112</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,336)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Data processing equipment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt">20</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(9,061)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(3,028)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">633</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(116)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">33</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(11,539)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Right of use &ndash; leases </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt">20 to 30</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(3,097)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,925)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">4,091</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">34</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(897)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Machinery and equipment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt">10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(330)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(14)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">55</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(289)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Other fixed assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt">10 to 20</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(217)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(22)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">56</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">17</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">15</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(151)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>(-) Accumulated depreciation</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(14,388)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(5,468)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>4,988</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(87)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>34</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>59</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(14,862)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>15,732</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>4,823</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2,309</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(3,338)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>6</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(119)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>19,413</B></FONT></TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 18 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD>&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD><TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Notes to the unaudited interim condensed consolidated </B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>financial statements</B></P><P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->



<P STYLE="font: 11pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Average annual depreciation rates %</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>December 31, 2020</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Additions</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Additions due to acquisitions</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Disposals</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Hyperinflation adjustment</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Exchange variations</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>December 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Furniture and fixtures</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,374</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">31</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">160</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(413)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">22</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(4)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,169</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Leasehold improvements </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,674</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">18</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">465</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">27</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(7)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">2,177</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Data processing equipment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">14,277</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">5,093</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">935</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,024)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">86</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(276)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">19,091</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Right of use &ndash; leases</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">4,967</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">959</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,817</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(800)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">6,943</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Machinery and equipment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">515</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(108)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">408</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Other fixed assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">309</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">5</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">26</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(8)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">332</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Cost</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>23,116</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>6,105</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>3,404</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(2,353)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>135</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(287)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>30,120</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Furniture and fixtures</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt">10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(604)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(153)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">172</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(12)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(597)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Leasehold improvements</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt">10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(847)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(225)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(17)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">3</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,086)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Data processing equipment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt">20</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(6,229)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(2,860)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">69</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(73)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">32</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(9,061)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Right of use &ndash; leases </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt">20 to 30</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(2,347)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(2,228)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,478</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(3,097)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Machinery and equipment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt">10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(411)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(17)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">97</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(330)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Other fixed assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt">10 to 20</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(183)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(38)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">4</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(217)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>(-) Accumulated depreciation</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(10,621)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(5,521)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1,820</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(102)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>36</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(14,388)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>12,495</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>585</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>3,404</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(533)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>33</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(252)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>15,732</B></FONT></TD></TR>
  </TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD><TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Notes to the unaudited interim condensed consolidated </B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>financial statements</B></P><P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P></TD></TR></TABLE></DIV>
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<TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">9.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Intangible assets and goodwill </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

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<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">9.1.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Breakdown of balances </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Average annual amortization rates %</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Cost</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Amortization</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>Net balance on September 30, 2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Intangible assets under development </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">31,500</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">31,500</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Brands and patents</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">29</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">29</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Software license</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">20 to 50</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">8,985</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(4,658)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">4,327</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Database</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">10</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">800</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(527)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">273</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Goodwill </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,060,640</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,060,640</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Customer portfolio </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">10</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">132,765</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(93,148)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">39,617</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Non-compete </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">20</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">7,711</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">(1,853)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">5,858</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Platform </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">10 to 20</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">454,073</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">(74,996)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">379,077</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt 0.75pt 7.1pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,696,503</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt 0.75pt 7.1pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(175,182)</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt 0.75pt 7.1pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,521,321</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>Average annual amortization rates %</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>Cost</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>Amortization</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>Net balance on December 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Intangible assets under development </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">7,723</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">7,723</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Brands and patents</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">25</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">25</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Software license</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">20 to 50</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">7,449</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(3,310)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">4,139</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Database</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">10</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">800</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(467)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">333</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Goodwill </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">813,912</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">813,912</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Customer portfolio </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">10</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">120,716</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">(81,965)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">38,751</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Non-compete </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">20</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">3,234</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">(874)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">2,360</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Platform </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">10 to 20</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">222,907</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">(39,793)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt 0.75pt 0.1in; text-align: right"><FONT STYLE="font-size: 8pt">183,114</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt 0.75pt 7.1pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,176,766</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt 0.75pt 7.1pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(126,409)</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt 0.75pt 7.1pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,050,357</B></FONT></TD></TR>
  </TABLE>
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<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">9.2.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Changes in intangible assets and goodwill</FONT></TD></TR></TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 24%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Average annual amortization rates %</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>December 31, 2021</B></FONT></TD>
    <TD STYLE="width: 7%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Additions</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Additions due to acquisitions</B></FONT></TD>
    <TD STYLE="width: 7%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Transfers</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Disposals</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Hyperinflation adjustment</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>September 30, 2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Intangible asset in progress&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">7,723</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">29,405</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(5,872)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">244</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">31,500</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Software license&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">7,449</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,586</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(55)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">5</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">8,985</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Database&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">800</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">800</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Goodwill&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">813,912</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">246,728</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,060,640</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Customer portfolio&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">120,716</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">12,049</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">132,765</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Non-compete </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">3,234</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">4,477</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">7,711</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Brands and patents</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">25</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">4</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">29</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Platform &nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">222,907</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">225,294</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">5,872</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">454,073</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>Cost</B>&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,176,766</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>30,995</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>488,548</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(55)</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>249</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,696,503</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Intangible asset in progress</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Software license&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">20 &ndash; 50</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(3,310)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(1,403)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">55</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(4,658)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Database&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(467)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(60)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(527)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Customer portfolio&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(81,965)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(11,183)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(93,148)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Non-compete </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">20</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(874)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(979)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(1,853)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Platform &nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">10 - 20</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(39,793)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(35,203)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-family: New York, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(74,996)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>(-) Accumulated amortizations</B>&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(126,409)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(48,828)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>55</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(175,182)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>Total</B>&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,050,357</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(17,833)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>488,548</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>249</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,521,321</B></FONT></TD></TR>
  </TABLE>
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<!-- Field: Page; Sequence: 21 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD><TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Notes to the unaudited interim condensed consolidated </B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>financial statements</B></P><P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 30%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 16%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Average annual amortization rates %</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 14%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>December 31, 2020</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Additions</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Additions due to acquisitions</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Transfers</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 13%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>December 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Intangible asset in progress </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">8,433</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">9,849</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(10,559)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">7,723</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Software license&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">3,584</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">3,517</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">348</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">7,449</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Database&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">800</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">800</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Goodwill&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">163,394</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">650,518</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">813,912</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Customer portfolio&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">112,929</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">7,787</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">120,716</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Non-compete </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">3,234</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">3,234</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Brands and patents</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">24</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">25</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Platform &nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">75,065</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">77</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">137,554</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">10,211</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">222,907</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>Cost</B>&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>364,205</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>13,467</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>799,094</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,176,766</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Intangible asset in progress </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Software license&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">20 &ndash; 50</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(2,172)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(2,002)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">864</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(3,310)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Database&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(387)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(80)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(467)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Customer portfolio&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(67,524)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(12,579)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(1,862)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(81,965)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Non-compete </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">20</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(337)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(537)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(874)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Platform &nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">10 - 20</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(12,647)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(20,612)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(5,670)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(864)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(39,793)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>(-) Accumulated amortizations</B>&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(82,730)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(35,610)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(8,069)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(126,409)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>Total</B>&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>281,475</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(22,143)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>791,025</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,050,357</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">Amortization expense was R$48,828 for the nine months period ended September
30, 2022 (R$23,346 for the nine months period ended September 30, 2021).</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">The amortization of intangibles includes the amount of R$43,221 for the nine months periods
ended September 30, 2022 (R$19,759 for the nine months periods ended September 30, 2021) related to amortization of intangible assets
acquired in business combinations, of which R$31,010 (R$11,265 for the nine months periods ended September 30, 2021) was recorded in costs
of services and R$12,211 (R$9,095 for the nine months periods ended September, 2021) in administrative expenses.</P>


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<P STYLE="font: 11pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">10.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Loans and borrowings </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Changes in cash</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Changes not affecting cash</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt"><B>Interest rate p.a.</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>Current</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>Non-current</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>December 31, 2021</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Funding</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Interest paid</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Payments</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Interest incurred</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Adjustment to present value</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 16.7pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Exchange rate change</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>September 31, 2022</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt"><B>Non-current</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Working capital</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">100% do CDI + 2.40% to 5.46% and 8.60% to 12.95%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">64,415 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">98,723 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">163,138 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">20,000 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">(16,745)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">(45,114)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">17,201 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">(1,045)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">(137)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;137,298 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; white-space: nowrap; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">65,606 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; white-space: nowrap; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71,692 </FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Debentures</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">18.16%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">45,000 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">45,000 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(5,687)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(4,000)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">5,687 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">41,000 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">21,294 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19,706 </FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>64,415 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>143,723 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>208,138 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>20,000 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(22,432)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(49,114)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>22,888 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(1,045)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(137)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;178,298 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;86,900 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91,398 </B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="width: 29%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Changes in cash</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Changes not affecting cash</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt"><B>Interest rate p.a.</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>Current</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>Non-current</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>December 31, 2020</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Funding</B></FONT></TD>
    <TD STYLE="width: 5%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Interest paid</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Payments</B></FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Interest incurred</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>September 31, 2021</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt"><B>Current</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt"><B>Non-current</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Working capital</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">100% CDI + 2.40% to 5.46% and TJLP + 2.98%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;55,605 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;41,791 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;97,396 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;88,000 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">(8,338)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(32,129)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">9,215 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">154,144 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">48,796</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">105,348</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Working capital</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">9.12% and 13.22%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;18,428 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(997)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">(399)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">295</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;17,327 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">7,002</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">10,325</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">BNDES Prosoft</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">TJLP + 2.96%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;592 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;987 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,579 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;- </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">(26)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">(1,574)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">21 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt dotted; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;- </FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Debentures</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">18.16%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;45,000 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">(1,290)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">1,290 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;45,000 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;45,000 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;56,197 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;42,778 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;98,975 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>151,428 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(10,651)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(34,102)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>10,821 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>216,471 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;55,798 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>160,673 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 23 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD><TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Notes to the unaudited interim condensed consolidated </B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>financial statements</B></P><P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Nunito Sans; margin: 0 0 0 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0 0 0 0.25in; text-indent: -0.25in">The portion classified in non-current liabilities has the
following payment schedule:</P>

<P STYLE="font: 9pt Nunito Sans; margin: 0; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 56%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>September 30, 2022</B></FONT></TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>December 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">2023</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">25,575</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">70,305</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">2024</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">60,490</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">53,721</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">2025</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">5,333</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">18,797</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">After 2026</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">900</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>91,398</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>143,723</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0"><B>Working Capital </B></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">On May 24, 2022, Zenvia Brazil entered into an agreement with Banco
Votorantim S.A. for a CCB (C&eacute;dula de Cr&eacute;dito Banc&aacute;rio) in the aggregate amount of R$20,000. The transaction is secured
by a fiduciary assignment of certain credits held at the Company bank account held by the Company with Banco Votorantim S.A.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">Principal amortization included an 18-motnh grace period, during which
only interest was due, followed by 18 monthly installments of principal and interest, with the first installment due on December 26, 2023
and the last installment at maturity on May 26, 2025.</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Nunito Sans; margin: 0"><B>Debentures </B></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">On May 10, 2021, D1 issued debentures, not convertible into shares,
in three series totaling the amount of R$45,000 to be paid in 54 monthly installments. The interest is accrued and paid on a monthly basis.
According to the deed of first private issuance of simple debentures, the debentures may have its early termination in the event of the
following situations occur as per D1&acute;s financial results:</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt"><B>a.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Consolidated adjusted gross margin is below 45%;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt"><B>b.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Cash runway is below 6 months, which is calculated by dividing the cash
position (cash and cash equivalents) by the average cash outflow of the past 6 months; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10.35pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt"><B>c.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Debt coverage ratio is below 1.5, which is calculated by dividing the sum
of the cash position (cash and cash equivalents) and the gross profit of the past 6 months by the interest payable for the next 6 months.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">To this date, D1 has not breached any of the non-financial obligations
described in the deed of debentures, such as monthly providing financial information and the calculation of the covenants (a) to (c).</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">On September 12, 2022, the Company signed an amendment, establishing
an amortization schedule of 19 installments, the first being paid in September 2022, maturing in July 2024 and monthly interest at a fixed
rate of 18.16% per annum (252 business days basis).</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">Also, in accordance with the signed amendment, new covenants were established
for early termination in the following situations as per Zenvia Inc.&acute;s Interim Earnings Release or Consolidated Financial Statements.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt"><B>i.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The economic group&acute;s adjusted gross margin is below 30%;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt"><B>ii.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The economic group&acute;s cash balance falls below R$65,000.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">D1 is currently not in breach of any of the non-financial obligations
set forth in the private deed. The financial indexes above will be ascertained quarterly from 1<SUP>st</SUP> quarter of 2023.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD><TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Notes to the unaudited interim condensed consolidated </B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>financial statements</B></P><P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P></TD></TR></TABLE></DIV>
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<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0"><B>Contractual clauses</B></P>

<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>
<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The Company has financing agreements in the amount of R$80,823 guaranteed
by 20% of accounts receivable given as collateral and the balance of interest-earning bank deposits recorded as non-current assets, representing
three times the amount of the first payment of principal plus interest. As of September 30, 2022, the Company was in compliance with the
loans and borrowing financial covenants.</P>

<P STYLE="font: 9pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">11.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Trade and other payables </FONT></TD></TR></TABLE>

<P STYLE="font: 14pt Nunito Sans; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 52%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 24%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>September 30, 2022</B></FONT></TD>
    <TD STYLE="width: 24%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>December 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Domestic suppliers</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">168,279</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132,051 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Abroad suppliers</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">921</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Advance from customers</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">4,628</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,130 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Related parties <SUP>(a)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">52,413</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Other accounts payable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">7,976</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,763 </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>234,217</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145,360 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Current</B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>232,957</B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>144,424</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Non-current</B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1,260</B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>936</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Nunito Sans; margin: 0">(a) The outstanding balances are related to the Company&acute;s shareholder Twilio Inc. (note
22) which has ordinary SMS transactions with the Company.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0"><B>&nbsp;</B></P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">12.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Long-Term Incentive Programs and Management remuneration</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The Company offers to its executives and employees long-term incentive
plans (&ldquo;ILPs&rdquo;) based on the issuance of restricted Class A common shares (&ldquo;RSUs&rdquo;) and cash-based payments equivalent
to RSU. The Company recognizes as expense the fair value of RSUs, measured at the grant date, on a straight-line basis during the vesting
provided by the respective plan, with a corresponding entry: to shareholders&rsquo; equity for plans exercisable in shares; and to liabilities
for plans exercisable in cash. The accumulated expense recognized reflects the vesting period and the Company&rsquo;s best estimate of
the number of shares to be delivered. The expense of the plans is recognized in the statement of income (loss) in accordance with the
function performed by the beneficiary.</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The ILPs grant the beneficiaries the right to receive RSU subject to,
among other conditions, a cliff vesting period and, for some beneficiaries, the achievement of certain performance goals established by
the Company&acute;s Executive Board of Directors.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The Company has three Long-Term Incentive Programs currently in force.
In July 2021 in connection with the consummation of the initial public offering, the Company approved the Long-Term Incentive Program
number two and three (&ldquo;ILP 2&rdquo; and &ldquo;ILP3&rdquo;) which entitled certain executives and employees to receive RSU and cash-based
payments equivalent to RSU, establishing the terms, quantities, and conditions for the acquisition of rights related to the RSU. Beneficiaries
of ILP 2 and 3 received 50% of the total granted RSU in cash in August 2021 and the right to receive RSU in shares subject to, among other
terms and conditions, a cliff vesting period of 24 months following the initial public offering.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">On May 4, 2022, the Executive Board of Directors approved a new Long-Term
Incentive Program (&ldquo;ILP 4&rdquo;) that will grant a maximum of 240,000 RSU (or cash-based payments equivalent to RSU) to certain
executives and employees of the Group subject to a vesting period of 28 months as of May 5, 2022 and, to certain executives and employees,
the achievement of certain gross profit performance goals. On the same date, the Executive Board of Directors also approved a reduction
of the vesting period ILP 2 and ILP3 from 24 to 18 months. The effects of reduction of the vesting period were recorded as an expense
in our interim condensed consolidated financial statements. The granting of RSU under ILP 4 partially occurred in the third quarter of
2022 and a vesting provision was recorded as an expense in our interim condensed consolidated financial statements.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">As of September 30, 2022, the Company had outstanding 295,334 &ldquo;RSUs&rdquo;
that were authorized but not yet issued, related with future vesting conditions. The total compensation cost related to unvested RSUs
was R$2,554 (R$1,069 as of December 31, 2021) recorded in our interim condensed consolidated financial statements. An expense amounting
to R$2,192 (R$47,025 for the nine months periods ended September 30, 2021) was recorded in the interim condensed consolidated statements
of profit or loss position as relative to the vesting period of the restricted share units.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Date</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-top: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Quantity</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-top: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 16%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Grant</B></FONT></TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Vesting</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>Shares granted</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>Outstanding shares</B></FONT></TD>
    <TD STYLE="width: 38%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Weighted average grant date fair value (Per share)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">08. 09. 2021</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">12. 22. 2022</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">45,522</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">45,522</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">59.11</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">08. 23. 2021</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">12. 22. 2022</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">11,436</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">11,436</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">84.50</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">08. 24. 2021</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">12. 22. 2022</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">3,833</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">3,833</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">86.68</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">05. 05. 2022</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">09. 05. 2024</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">240,000</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">234,543</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">75.72</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>300,791</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>295,334</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The roll forward of the granted shares for the period ended September
30, 2022, is presented as follows:</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD><TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Notes to the unaudited interim condensed consolidated </B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>financial statements</B></P><P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 75%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 25%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt; color: #7030A0"><B>Consolidated</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>Outstanding RSU as of December 31, 2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60,791 </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">Shares granted</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240,000 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">Shares delivered</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5,457)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>Outstanding RSU on September 30, 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295,334 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Nunito Sans; margin: 0"><B><I>Key management personnel compensation</I></B></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">Key management personnel compensation comprised the follows:</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Nine months periods ended September 30, </B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 75%; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 3%; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 10pt">Short-term employee benefits</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 10pt">15,840</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 10pt">6,412</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 10pt">Other long-term benefits</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 10pt">186</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-family: New York, Helvetica, Sans-Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 10pt">Termination benefits</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 10pt">617</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 10pt">930</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 10pt">Share-based payments</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 10pt">1,294</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 10pt">714</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>17,937</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>8,056</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Nunito Sans; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">The Company recognized these compensation expenditures as expenses during the nine-month
period ended September 30, 2022.</P>


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<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">13.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Provisions for tax, labor and civil risks </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">13.1.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Provisions for probable losses</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">The Company, in the ordinary course of its business, is subject to tax, civil and labor lawsuits.
Management, supported by its legal advisors' opinion, assesses the probability of the outcome of the lawsuits in progress and the need
to record a provision for risks that are considered sufficient to cover the probable losses.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">The table below presents the position of provisions for disputes, probable losses and judicial
deposits which refer to lawsuits in progress and social security risk.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 72%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>September 30, 2022</B></FONT></TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>December 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt; color: #7030A0"><B><U>Provisions</U></B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Service tax (ISSQN) Lawsuit - Company Zenvia (a)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">36,686</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">34,666</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Labor provisions and other provisions</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">800</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,410</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Total provisions</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>37,486</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>36,076</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt; color: #7030A0"><B><U>Judicial deposits</U></B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Service tax (ISSQN) judicial deposits - Lawsuit Company Zenvia (a)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(36,717)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(34,697)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Labor appeals judicial and other deposits</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(288)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(10)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;Total judicial deposits</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(37,005)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(34,707)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>481</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1,369</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 8pt; color: black">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt; color: black">The amount of the liability related to the provision and judicial
deposits for tax risk refers to the lawsuit filed by the City of Porto Alegre about the service tax (ISSQN) </FONT><FONT STYLE="font-size: 8pt">against
Zenvia <FONT STYLE="color: black">Brazil itself.</FONT></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">13.2.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Contingencies with possible losses</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify"><FONT STYLE="color: black">The company is involved in </FONT>contingencies
<FONT STYLE="color: black">for which losses are possible, in accordance with the assessment prepared by Management with support from legal
advisors. On September 30, 2022, the total amount of contingencies classified as possible was R$65,317 (R$208 as of December 31, 2021).
The most relevant cases are set below:</FONT></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify"><FONT STYLE="color: black">Taxes: The company is involved in disputes
related to: (i) administrative claim imposed by the auth</FONT>ority <FONT STYLE="color: black">of the city of Porto Alegre related to
dif</FONT>ferences in the tax classification and rates of SMS A2P services <FONT STYLE="color: black">in the amount of R$21,552 (R$0 as
of December 31, 2021); (ii) administrative claim imposed by the au</FONT>thority of the city of <FONT STYLE="color: black">Porto Alegre
related to the supposed debit of municipal tax (ISSQN) after Zenvia Mobile transferred its headquarters from the city of Porto Alegre
to the city of S&atilde;o Paulo in the amount of R$6,573 (R$0 as of December 31, 2021)</FONT>; (iii) administrative claims in the amount
of R$36,592 (R$0 as of December 31, 2021) related to a fine imposed by the Brazilian federal tax authority for failure to pay income taxes
on capital gain from the acquisition of Kanon Servi&ccedil;os em Tecnologia da Informa&ccedil;&atilde;o Ltda. by Zenvia Mobile from Spring
Mobile Solutions Inc. in previous years.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">Labor: the labor contingencies assessed as possible losses totaled R$190
as of September 30, 2022 (R$112 as of December 31, 2021).</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify"><FONT STYLE="color: black">Civil: the civil contingencies assessed as
possible </FONT>losses <FONT STYLE="color: black">totaled R$383 as of September 30, 2022 (R$63 as of December 31, 2021).</FONT></P>

<P STYLE="color: red; font: 10pt Nunito Sans; margin: 0; text-align: justify; text-indent: -0.25in">&nbsp;</P>


<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">14.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Liabilities from acquisitions</FONT></TD></TR></TABLE>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Liabilities from business combinations</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 49%; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 25%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>September 30, 2022</B></FONT></TD>
    <TD STYLE="width: 2%; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 24%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>December 31, 2021&nbsp;&nbsp;</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Investment acquisition&nbsp;&nbsp;- Total Voice</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,301</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Investment acquisition&nbsp;&nbsp;- Sirena <SUP>(a)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">11,218</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">35,970</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Investment acquisition &ndash; D1 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">40,000</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">164,000</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Investment acquisition &ndash; Sensedata <SUP>(b)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">55,035</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">35,018</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Investment acquisition &ndash; Movidesk</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">173,092</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Total liabilities from acquisitions</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>279,345</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>236,289</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Current</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">70,214</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">176,069</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Non-current</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">209,131</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">60,220</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Nunito Sans; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 8pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">An installment payment was agreed for the last installment of the earn-out
due to Sirena's former shareholders, which would originally be paid in third quarter. The amount equivalent to US$7,515 will be paid as
follows: 1) US$5,264 was paid on August 2022; 2) US$2,254 will be paid in 24 monthly installments plus interest. As collateral for payment
of the monthly installments, Zenvia Brazil has granted promissory notes and assigned client receivables corresponding to 110% of the amount
due.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 7pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">On September 30, 2022, the amount of R$19,758 was recorded in liabilities
as an additional earn-out due to the Sales and Purchase Agreement (&ldquo;SPA&rdquo;).</FONT></TD></TR></TABLE>


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<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">15.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Equity </FONT></TD></TR></TABLE>

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<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B><I>a.</I></B></FONT></TD><TD><FONT STYLE="font-size: 12pt"><B><I>Share Capital</I></B></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 43%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Shareholder&rsquo;s</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Class</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right; text-indent: 1.35pt"><FONT STYLE="font-size: 8pt"><B>September 30, 2022</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>%</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>December 31, 2021</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Bobsin LLC</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">B</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">10,475,855</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">25.10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">9,578,220</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">23.18</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Oria Zenvia Co-investment Holdings, LP</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">B</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">3,178,880</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">7.62</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">3,178,880</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">7.69</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Oria Zenvia Co-investment Holdings II, LP</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">B</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">3,941,050</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">9.44</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">3,941,050</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">9.54</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Oria Tech Zenvia Co-investment &ndash; Fundo de Investimento em Participa&ccedil;&otilde;es Multiestrat&eacute;gia</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">B</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">4,372,480</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">10.48</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">4,372,480</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">10.58</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Oria Tech 1 Inova&ccedil;&atilde;o Fundo de Investimento em Participa&ccedil;&otilde;es </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">B</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">2,637,670</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">6.32</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">2,637,670</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">6.38</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Twilio Inc.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">A</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">3,846,153</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">9.22</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">3,846,153</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">9.31</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">D1 former shareholders</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">A</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,942,750</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">4.66</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,942,750</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">4.70</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Sirena former shareholders</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">A</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">89,131</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">0.21</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">89,131</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">0.22</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">SenseData former shareholders</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">A</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">94,200</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">0.23</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Movidesk former shareholders</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">A</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">315,820</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">0.76</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Spectra I - Fundo de Investimento em Participa&ccedil;&otilde;es </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">A</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">39,940</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">0.10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">39,940</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">0.10</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Spectra II - Fundo de Investimento em Participa&ccedil;&otilde;es </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">A</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">159,770</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">0.38</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">159,770</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">0.39</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Others </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">A</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">10,640,827</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">25.50</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">11,538,462</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">27.91</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>41,734,526</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>100</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>41,324,506</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>100</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">On May 02, 2022, the Company delivered 315,820 of our Class A common
shares to certain Movidesk shareholders as a part of the conclusion of the purchase agreement equivalent to an amount of R$15,740.</P>


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<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

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<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">16.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Revenue</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">16.1.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Segment reporting </FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The Company acquired in 2020 Rodati Motor Corporation (&ldquo;Sirena&rdquo;),
including the digital platform of <FONT STYLE="background-color: white">R$54,521 and customer portfolio of R$1,975. The</FONT>se non-financial
assets were integrated into the Zenvia business and support the Company&rsquo;s operations in Brazil, United States, Argentina and Mexico.
The Company has no other material non-financial assets outside Brazil.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The Company&rsquo;s revenue by geography is presented below:</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>For the three months period ended September 30,</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>For the nine months period ended September 30,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 44%; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 16%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2021</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2021</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="3" STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt; color: #7030A0"><B><U>Primary geographical markets</U></B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Brazil</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">163,986</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">138,878</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">531,301</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">357,053</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">USA</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">2,636</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">7,255</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">11,486</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">24,301</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Argentina</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">2,680</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,999</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">8,015</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">5,218</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Mexico</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">3,815</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">3,157</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">10,722</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">8,338</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Switzerland</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">34</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">4,384</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">541</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">9,970</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Colombia</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,388</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">4,038</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Others</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">5,812</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">8,043</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">15,726</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">17,181</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>180,351</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>163,716</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>581,829</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>422,061</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify"><FONT STYLE="color: black">In the three-month and nine-months periods
ended September 30, 2022, the Company had one customer representing 12.20% and </FONT>14.79% <FONT STYLE="color: black">(13,50% and </FONT>13.10%
in the three-month and nine-months periods ended September 30, 2021)<FONT STYLE="color: black">, respectively, of consolidated revenue.</FONT></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">16.2.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Seasonality of operations </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Nunito Sans; margin: 0; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">Although the Company has not historically experienced significant seasonality
with respect to revenues throughout the year, some moderate seasonality has been observed in the use of the platforms in cases such as
education and brick-and-mortar retail stores. The Company has experienced revenue growth during the Carnival period in March, the back-to-school
periods in July and August, Black Friday at the end of November and the Christmas season. The rapid growth in the business has offset
this seasonal trend to date, but its impact on revenue may be more pronounced in future periods.</P>


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<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

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<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">17.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Expenses by nature </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Nunito Sans; margin: 0"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>Three months ended September 30, </B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>Nine months ended September 30, </B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 57%; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Personnel expenses (a)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">55,489</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">88,767</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">165,877</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">153,641</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Costs with operators/Other costs</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">84,611</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">108,722</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">329,922</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">278,145</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Depreciation and amortization</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">20,807</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">10,660</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">54,296</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">26,960</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Outsourced services</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">7,355</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">10,204</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">24,797</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">25,559</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Rentals/insurance/condominium/water/energy</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">107</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">361</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,017</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,515</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Allowance for credit losses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,044</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,408</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">5,041</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">4,653</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Marketing expenses / events</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">3,264</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,761</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">5,288</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">6,695</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Communication</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">4,372</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">2,751</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">12,745</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">6,091</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Travel expenses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,937</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(67)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">2,803</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">231</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Other expenses (i)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">13,236</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(5,352)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">30,178</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,955</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Other income and expenses, net (ii)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">9,114</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(1,939)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">29,082</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(1,759)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>201,336</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>217,276</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>661,046</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>503,686</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Cost of services</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">106,374</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">110,914</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">382,380</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">297,500</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Sales and marketing expenses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">34,389</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">22,314</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">90,579</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">60,514</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">General administrative expenses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">33,158</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">79,489</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">107,498</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">126,678</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Research and development expenses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">17,395</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">5,091</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">46,588</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">16,100</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Allowance for credit losses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,044</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,407</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">5,041</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">4,653</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Other income and expenses, net</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">8,976</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(1,939)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">28,960</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(1,759)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>201,336</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>217,276</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>661,046</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>503,686</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Nunito Sans; margin: 0"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 8pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">As of September 30, 2022, the total amount is mostly composed of R$5,904
referring to additions due to acquisition of Movidesk, R$2.359 referring to corporate events; R$6,819 referring to Software licence; and
R$3,323 referring to Comissions.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 8pt; color: black">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt; color: black">As of September 30, 2022, the total amount is mostly composed
of R$23,798 referring to additional earn-out on the achievement of gross profit milestones in the contract acquisition of Sirena and SenseData,
and R$5,529 refers to losses for non-use of the advance payment signed in June 2021 with </FONT><FONT STYLE="font-size: 8pt">a Brazilian
<FONT STYLE="color: black">telecommunications company related to SMS service agreement.</FONT></FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Nunito Sans; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD><FONT STYLE="font-size: 10pt; color: black">Personnel expenses:</FONT></TD></TR></TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>Three months ended September 30, </B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>Nine months ended September 30, </B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 48%; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 13%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2021</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Salary </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">30,404</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">20,756</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">88,225</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">46,808</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Benefits</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">5,601</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">2,346</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">13,373</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">4,918</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Compulsory contributions to social security</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">7,854</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">7,718</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">22,328</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">16,836</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Compensation</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,155</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">(9)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">2,125</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,787</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Provisions (vacation/13th salary)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">6,403</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">4,114</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">18,435</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">8,127</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">IPO Bonus (Cash and share-based payment)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">989</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">45,508</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">3,024</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">48,072</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Provision for bonus and profit sharing</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,487</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">4,175</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">11,622</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">9,566</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Compensation to former shareholders</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">2,995</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,560</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">14,246</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Other</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,596</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,164</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">5,185</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">3,281</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>55,489</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>88,767</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>165,877</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>153,641</B></FONT></TD></TR>
  </TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">18.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Financial Income (Expenses) </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Three months ended September 30, </B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Nine months ended September 30, </B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 56%; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2021</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt; color: #7030A0"><B><U>Finance expenses</U></B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Interest on loans and financing</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(5,875)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(4,192)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(17,063)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(9,530)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Interest on Debentures</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,936)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,290)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(5,687)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,290)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Foreign exchange losses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(5,636)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,896)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(11,122)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(15,048)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Bank expenses and IOF (tax on financial transactions)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,536)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(755)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(3,386)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(3,914)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Other financial expenses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(683)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(2,993)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(5,000)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(6,597)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Interests on leasing contracts</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(102)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(109)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(399)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(239)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Losses on derivative instrument</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(40)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">685</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(896)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(170)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Inflation adjustment </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(2,976)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(288)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(6,709)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,019)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Adjustment to present value (APV)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(5,385)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(5,385)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Total finance expenses</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(24,169)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(10,838)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(55,647)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(37,807)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt; color: #7030A0"><B><U>Finance income</U></B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Interest</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">438</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,492)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,059</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">491</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Foreign exchange gain</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">2,389</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,768</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">12,103</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">17,756</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Interests on financial instrument</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">2,096</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,381</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">12,008</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">2,001</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Other financial income</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">580</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">770</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">735</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">844</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Gain on financial instrument</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">482</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt; background-color: white">Adjustment to present value (APV)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,453</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">2,119</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Total finance income</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>6,956</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2,427</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>28,506</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>21,092</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Total financial income (expenses)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(17,213)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(8,411)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(27,141)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(16,715)</B></FONT></TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 33 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD><TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Notes to the unaudited interim condensed consolidated </B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>financial statements</B></P><P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">19.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Income tax and social contribution </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">Income tax&nbsp;expense is recognized in each interim period based on
the best estimate of the weighted average annual&nbsp;income tax&nbsp;rate expected for the full financial year. Amounts accrued for&nbsp;income
tax&nbsp;expense in these interim condensed consolidated financial statements may have to be adjusted in a subsequent interim period if
the Company&rsquo;s estimate of the annual&nbsp;income tax&nbsp;rate changes in future periods.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Three months ended September 30,</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Nine months ended September 30,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 58%; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2021</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Deferred taxes on temporary differences and tax losses</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">10,793</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">3,856</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">26,678</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">13,512</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Current tax expenses</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(399)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,458)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,122)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(2,090)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 10pt"><B>Tax (income) expense </B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>10,394</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2,398</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>25,556</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>11,422</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Nunito Sans; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Nunito Sans; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">19.1.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Reconciliation between the nominal income tax and social contribution rate
and effective rate </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Three months ended September 30, </B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Nine months ended September 30, </B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 56%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2021</B></FONT></TD>
    <TD STYLE="width: 14%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Income before income tax and social contribution</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(38,198)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(61,971)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(106,358)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(98,340)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Basic rate</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">34%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">34%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">34%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">34%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Income tax and social contribution</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>12,987</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>21,075</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>36,162</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>33,440</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt; color: #7030A0"><B><U>Tax incentives</U></B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Net operating loss carryforward not recorded from subsidiaries (a)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,036)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(889)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(5,438)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(2,392)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Management Bonus (Including IPO)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(636)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(15,361)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(2,485)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(16,256)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Others</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(921)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(2,422)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(2,683)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(3,366)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Tax benefit (expense)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>10,394</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2,398</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>25,556</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>11,422</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Effective rate</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">27.21%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">3.87%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">24.03%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">11.61%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Nunito Sans; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 8pt; color: black">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt; color: black">For certain subsidiaries of Rodati Motor Corporation no deferred
tax assets were recognized from temporary differences and tax loss carryforward in the amount of R$4,</FONT><FONT STYLE="font-size: 8pt">914
<FONT STYLE="color: black">because it is not probable that future taxable profit will be available against which the Company can use the
benefits </FONT>therefore<FONT STYLE="color: black">.</FONT></FONT></TD></TR></TABLE>


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<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">19.2<FONT STYLE="font-weight: normal">.</FONT></FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Breakdown and Changes in deferred income tax and social contribution </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 71%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>September 30, 2022</B></FONT></TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>December 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt; color: #7030A0"><B><U>Deferred tax assets</U></B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Provision for labor, tax and civil risk</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;12,473 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">10,428</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Allowance for doubtful accounts</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;2,510 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">2,181</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Tax losses and negative basis of social contribution tax</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;19,058 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">11,728</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Provision for compensation from acquisitions</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;18,705 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">13,615</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Other temporary differences</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;4,833 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">4,026</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Total deferred tax assets</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;<B>57,579</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>41,978</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt; color: #7030A0"><B><U>Deferred Tax liabilities</U></B></FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Goodwill</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(26,785)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(26,785)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Customer portfolio and platform</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(3,601)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(14,673)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Total deferred tax liabilities</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(30,386)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(41,458)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Net deferred tax</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>27,193</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>520</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Deferred taxes &ndash; assets</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>27,193</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2,276</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Deferred taxes &ndash; liabilities</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(1,756)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Nunito Sans; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 79%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 21%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Balance at December 31, 2021</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>520</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Additions </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">26,673</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Foreign exchange variation</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Balance at September 30, 2022</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>27,193</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The Company did not present taxable income in prior periods, mainly
due to the deductibility for tax purposes of goodwill, representing a temporary difference. However, based on projections of taxable income
and the reversal of goodwill temporary difference, management believes that sufficient taxable income will be available in future periods
to recover deferred tax assets.</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD><TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Notes to the unaudited interim condensed consolidated </B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>financial statements</B></P><P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">20.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Earnings per share </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The calculation of basic earnings per share is calculated by dividing
net income for the period by the weighted average number of common shares existing during the period. Diluted earnings per share are calculated
by dividing net income for the period by weighted average number of common shares existing during the period plus weighted average number
of common shares that would be issued upon conversion of all potentially diluting common shares into common shares.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">As of September 30, 2022 and 2021, the number of shares used to calculate
the diluted net loss per share of common stock attributable to common shareholders is the same as the number of shares used to calculate
the basic net loss per share of common stock attributable to common shareholders for the period presented because potentially dilutive
shares would have been antidilutive if included in the calculation. The tables below show data of income and shares used in calculating
basic and diluted earnings per share. The Class A common stock subject to future vesting were excluded from the calculation of the diluted
net loss per share attributable to common stockholders because their effect would have been anti-dilutive:</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>Nine months ended September 30, </B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 74%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt; color: #7030A0"><B>Basic and diluted earnings per share</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt"><B>Numerator</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Profit (loss) of the period assigned to Company&rsquo;s shareholders</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">(80,759)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">(86,918)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt"><B>Denominator</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Weighted average for number of common shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">41,529,516 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">41,324,506</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Class A common stock subject to future vesting</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">60,791 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">60,480</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>41,590,307 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>41,384,986</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt"><B>Basic and diluted earnings (loss) per share (in reais)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(1.942)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(2.103)</B></FONT></TD></TR>
  </TABLE>
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<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">21.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Risk management and financial instruments </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Nunito Sans; margin: 0 0 0 0.75in; text-indent: -0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">21.1<FONT STYLE="font-weight: normal">.</FONT></FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Classification of financial instruments</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The classification of financial instruments is presented in the table
below, and in the understanding of the Company's Management, there are no financial instruments classified in other categories besides
those informed:</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt"><B>September 30, 2022</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt"><B>December 31, 2021</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; line-height: 115%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 22%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>Fair value through profit or loss</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 10%; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>Amortized cost</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 6%; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>Level 1</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 7%; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>Level 2</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>Level 3</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 2%; padding: 0.75pt 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>Fair value through profit or loss</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 8%; padding: 0.75pt -2.9pt 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>Amortized cost</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 7%; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>Level 1</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 6%; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>Level 2</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>Level 3</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt; color: #7030A0"><B>Assets</B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Cash and cash equivalents</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">83,809</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">37,284</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">83,809</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">346,759</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">235,472</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">346,759</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Financial investment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">7,831</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">7,831</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">7,005</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">7,005</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Trade accounts receivable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">145,952</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">142,407</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Derivative financial instruments&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">74</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">74</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt"><B>Total assets</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>91,640</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>183,236</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>91,640</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>353,838</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>377,879</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>353,764</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>74</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt; color: #7030A0"><B>Liabilities</B></FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Loans and financing</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">178,298</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">208,138</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Trade and other payable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">234,217</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">145,360</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt">Liabilities from acquisition</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">279,345</FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt">236,289</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 7pt"><B>&nbsp;Total liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>412,515</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>279,345</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>353,498</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>236,289</B></FONT></TD></TR>
  </TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD><TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Notes to the unaudited interim condensed consolidated </B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>financial statements</B></P><P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P></TD></TR></TABLE></DIV>
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<P STYLE="font: 11pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">21.1.1.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Level 3 measurement </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The Company has a liability arising from its acquisitions, which will
be settled as the goals established in the contract are reached. As of September 30, 2022, the Company had a total of R$279,345 (R$236,289
on December 31, 2021) recorded under Liabilities from acquisition.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">21.2<FONT STYLE="font-weight: normal">.</FONT></FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Financial risk management</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The main financial risks to which the Company and its subsidiaries are
exposed when conducting their activities are:</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-size: 10pt"><B>(a)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Credit risk</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">It results from any difficulty in collecting the amounts of services
provided to the customers. The Company and its subsidiaries are also subject to credit risk from their interest earning bank deposits.
The credit risk related to the provision of services is minimized by a strict control of the customer base and active delinquency management
by means of clear policies regarding the concession of services. There is no concentration of transactions with customers and the default
level is historically very low. In connection with credit risk relating to financial institutions, the Company and its subsidiaries seek
to diversify such exposure among financial institutions.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify"><B>Credit risk exposure</B></P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The book value of financial assets represents the maximum credit exposure.
The maximum credit risk exposure on financial information date was:</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 54%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 23%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>September 30, 2022</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 23%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>December 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Cash and cash equivalents</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">121,093</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">582,231</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Financial investment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">7,831</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">7,005</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Trade accounts receivable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">147,413</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">142,407</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>276,337</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>731,643</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The Company determines its allowance for expected credit losses by applying
a loss rate calculated on historical effective losses on sales.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">Additionally, the Company considers that accounts receivable had a significant
increase in credit risk and provides for:</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 10pt">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">All notes receivable past due for more than 6 months;</FONT></P>

<P STYLE="font: 11pt Nunito Sans; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 10pt">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Notes subject to additional credit analysis presenting indicators of significant risks of default
based on ongoing renegotiations, failure indicators or judicial recovery ongoing processes and customers with relevant evidence of cash
deteriorating situation.</FONT></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD><TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Notes to the unaudited interim condensed consolidated </B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>financial statements</B></P><P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-size: 10pt"><B>(b)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Market Risk</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">Interest rate and inflation risk: Interest rate risk arises from the
portion of debt and interest earning bank deposits remunerated at CDI (Interbank Deposit Certificate) rate, which may adversely affect
the financial income or expenses in the event an unfavorable change in interest and inflation rates takes place.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-size: 10pt"><B>(c)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Operations with derivatives</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The Company used derivative financial instruments to hedge against the
risk of change in the foreign exchange rates. Therefore, they are not speculative. The derivative financial instruments designated in
hedge operations are initially recognized at fair value on the date on which the derivative contract is executed and are subsequently
remeasured to their fair value. Changes in the fair value of any of these derivative instruments are immediately recognized in the statement
of profit or loss under &ldquo;net financial cost&rdquo;. On September 30, 2022, the Company has no longer derivative financial instruments
registered in its balance sheet.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-size: 10pt"><B>(d)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Liquidity risk </B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The liquidity risk consists of the risk of the Company not having sufficient
funds to settle its financial liabilities. The Company&rsquo;s and its subsidiaries&rsquo; cash flow and liquidity control are closely
monitored by Company 's Management, so as to ensure that cash operating generation and previous fund raising, as necessary, are sufficient
to maintain the payment schedule, thus not generating liquidity risk for the Company and its subsidiaries.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">We present below the contractual maturities of financial liabilities
including payment of estimated interest.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>Non-derivative financial liabilities</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Book value</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Contractual cash flow</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Up to 12 months</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>1&ndash;2 years</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>2&ndash;3 years</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&gt;3 years</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: justify"><FONT STYLE="font-size: 8pt">Loans and financing</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">178,298</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">194,958</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">96,168</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">79,580</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">19,210</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: justify"><FONT STYLE="font-size: 8pt">Trade and other payables</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">234,217</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">234,217</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">232,957</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">1,260</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt">Liabilities from acquisitions</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">279,345</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">279,345</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">70,214</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">209,131</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: justify"><FONT STYLE="font-size: 8pt">Lease liabilities</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">4,149</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">5,865</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">2,203</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">3,662</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: justify"><FONT STYLE="font-size: 8pt"><B>&nbsp;Total</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>696,009</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>714,385</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>401,542</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>293,633</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>19,210</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-size: 10pt"><B>(e)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Sensitivity analysis</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The main risks linked to the Company's operations are linked to the
variation of the Interbank Deposit Certificate (CDI) for financing and financial investments and the Long-Term Interest Rate (TJLP) for
financing. The Company&rsquo;s financial instruments are represented by cash and cash equivalents, accounts receivable, accounts payable,
loans and financing, and are recorded at amortized cost, plus interests incurred.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">Investments indexed to CDI are recorded at market value, according to
quotations published by the respective financial institutions, and the remainder refer mostly to bank deposit certificates. Therefore,
the recorded amount of these securities does not differ from the market value.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The table below presents three scenarios for the risk of decreasing
or increasing of the CDI indexes. The base scenario was the index as of September 30, 2022 of 13.75% p.a. Scenario II represents a <FONT STYLE="background-color: white">25%
in</FONT>crease or decrease and scenario III a 50% increase or decrease. The Company has loans and borrowings linked to the CDI rate (long-term
interest rate).</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>



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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD>&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD><TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Notes to the unaudited interim condensed consolidated </B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>financial statements</B></P><P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 32%; border-top: Black 1pt solid; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt"><B>Operation</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>Balance at September 30,&nbsp;&nbsp;2022</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 14%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Risk</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Scenario I Current scenario</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 12%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Scenario II</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 12%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Scenario III</B></FONT></TD></TR>

  <TR>
    <TD STYLE="width: 32%; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt; background-color: white">Financial investments </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; width: 18%; text-align: right"><FONT STYLE="font-size: 8pt">83,809</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; width: 14%; text-align: right"><FONT STYLE="font-size: 8pt; background-color: white">CDI decrease</FONT></TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">11,524</FONT></TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">8,643</FONT></TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">5,762</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.75pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">13.75%</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">10.31%</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">6.88%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 8pt; background-color: white">Financial liabilities - financing</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">178,298</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt; background-color: white">CDI increase</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">24,516</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">30,645</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">36,774</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">13.75%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">17.19%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 8pt">20.63%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Nunito Sans; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-size: 10pt"><B>(f)</B></FONT></TD><TD><FONT STYLE="font-size: 10pt"><B>Capital management</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The Company's <FONT STYLE="color: black">capital management aims to
ensure that a strong credit rating is maintained before institutions, as well as a strong capital relationship, so as to support Company's
business and leverage shareholders' value.</FONT></P>

<P STYLE="font: 11pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The Company controls its capital structure by adjusting it to the current
economic conditions. In order to maintain an adjusted structure, the Company may pay dividends, return capital to the shareholders, fund
new loans, issue promissory notes and contract derivative transactions.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">The Company considers its net debt structure as loans and financing
less cash and cash equivalents. The financial leverage ratios are summarized as follows:</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Nunito Sans; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 51%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 24%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>September 30, 2022</B></FONT></TD>
    <TD STYLE="width: 25%; border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>December 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Loans and borrowings</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right; line-height: 107%"><FONT STYLE="font-size: 9pt; line-height: 107%">178,298</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">208,138</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Cash and cash equivalents </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(121,093)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(582,231)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt"><B>Net debt</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>57,205</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(374,093)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Total equity</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right; line-height: 107%"><FONT STYLE="font-size: 9pt; line-height: 107%">1,122,394</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt dotted; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">1,203,202</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt"><FONT STYLE="font-size: 9pt">Net debt/equity (%)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">0.05</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.75pt; text-align: right"><FONT STYLE="font-size: 9pt">(0.31)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 11pt">22.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 11pt">Related Parties </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">Related parties transactions are carried out under conditions and prices
established by the parties, the intercompany transactions are eliminated in consolidation.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">As of September 30, 2022, the Company has R$50,952 (R$7,269 as of December
31, 2021) in trade and other payables with shareholder Twilio Inc. related to agreement established between the Company and Twilio Inc.
which establish a transaction from SMS operations with no markup, with the SMS cost been reimbursement in advance.</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">23.</FONT></TD><TD><FONT STYLE="font-family: Nunito Sans; font-size: 12pt">Subsequent events</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Nunito Sans; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">On October 26, 2022, the Company announced a renegotiation of the payment
terms related to the acquisitions of D1 and Movidesk. Following the agreements, the Company&rsquo;s funding gap until the end of 2023
has now significantly declined, allowing us to focus on continuing expanding gross profit and generating positive Earnings Before interest,
Taxes, Depreciation and Amortization.(&ldquo;EBITDA&rdquo;).</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">For D1, the last fixed installment due to certain former shareholders
on March 31, 2023, of R$40,000, will now be paid, as follows: (i) R$7,320 in January 2023, (ii) R$3,660 in February 2023, (iii) R$4,618
in March 2023 and (iv) 23 monthly installments of R$1,220 between April 2023 and February 2025, subject to accrued interests in line with
Zenvia&rsquo;s current bank financing costs.</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>




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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Nunito Sans; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 10%">&nbsp;<IMG SRC="zenvfs3q226k_001.jpg" ALT=""></TD><TD STYLE="width: 90%"><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 7pt Nunito Sans; margin: 0"><B><I></I></B></P><P STYLE="font: 10pt Nunito Sans; margin: 0"></P><P STYLE="font: 10pt Nunito Sans; margin: 0"><B>Zenvia Inc.</B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>Notes to the unaudited interim condensed consolidated </B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B>financial statements</B></P><P STYLE="margin: 0; font: 7pt Nunito Sans"><B><I>(In thousands of reais)</I></B></P><P STYLE="font: 8pt Nunito Sans; margin: 0"><B><I></I></B></P></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Nunito Sans; margin: 0; text-align: justify">For Movidesk, the earn-out payment due to certain former shareholders,
previously expected to total R$205 million, which could reach R$320 million, will now be paid in fixed and variable installments subject
to accrued interest in line with Zenvia&rsquo;s current bank financing costs. Per the terms of the agreement, (i) 12 fixed monthly installments
of R$100 will be paid from January 2023 until December 2023, (ii) R$204,408 will be paid in 36 fixed monthly installments subject to accrued
interest from January 2024 until December 2026, and (iii) an additional variable amount calculated in terms of certain gross margin targets
achieved by the end of September 2023, currently expected to total R$24,042,
will be paid in 6 monthly installments subject to accrued interest from January 2024 until June 2024.</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Nunito Sans; margin: 0; text-align: center">* * *</P>



<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: center; margin-top: 0; margin-bottom: 8pt">&nbsp;</P>



<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: center; margin-top: 0; margin-bottom: 8pt"></P>

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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: center; margin-top: 0; margin-bottom: 8pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date: November 16, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%; padding-left: 10pt; font: 11pt Calibri, Helvetica, Sans-Serif; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="width: 35%; padding-left: 10pt; font: 11pt Calibri, Helvetica, Sans-Serif; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zenvia Inc.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%; padding-left: 10pt; font: 11pt Calibri, Helvetica, Sans-Serif; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 3%; padding-left: 10pt; font: 11pt Calibri, Helvetica, Sans-Serif; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Cassio Bobsin</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%; padding-left: 10pt; font: 11pt Calibri, Helvetica, Sans-Serif; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="width: 35%; padding-left: 10pt; font: 11pt Calibri, Helvetica, Sans-Serif; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Cassio Bobsin</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%; padding-left: 10pt; font: 11pt Calibri, Helvetica, Sans-Serif; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; font: 11pt Calibri, Helvetica, Sans-Serif; text-indent: -10pt; width: 35%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>


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