<SEC-DOCUMENT>0001292814-24-002769.txt : 20240717
<SEC-HEADER>0001292814-24-002769.hdr.sgml : 20240717
<ACCEPTANCE-DATETIME>20240716193050
ACCESSION NUMBER:		0001292814-24-002769
CONFORMED SUBMISSION TYPE:	424B5
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20240717
DATE AS OF CHANGE:		20240716

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Zenvia Inc.
		CENTRAL INDEX KEY:			0001836934
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		ORGANIZATION NAME:           	06 Technology
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B5
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-280284
		FILM NUMBER:		241120725

	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>424B5
<SEQUENCE>1
<FILENAME>zenv20240715_424b5.htm
<DESCRIPTION>424B5
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Filed pursuant to Rule 424(b)(5)<BR>
Registration No. 333-280284</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>PROSPECTUS SUPPLEMENT<BR>
(To the Prospectus dated June 24, 2024)</B></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><IMG SRC="zenv20240715424b5_001.jpg" ALT="" STYLE="height: 54px; width: 244px"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 16pt">Zenvia Inc.<BR>
</FONT><FONT STYLE="font-weight: normal"><I>(incorporated in the Cayman Islands)<BR>
</I></FONT>Up to US$20,000,000 of Class A Common Shares<BR>
<BR>
</P>

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<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-indent: 0.5in">On July 15, 2024 we entered into a sales agreement,
or the sales agreement, with A.G.P./Alliance Global Partners, or AGP, relating to the sale of our Class A common shares, par value US$0.00005
per Class A common share. In accordance with the terms of the sales agreement we may offer and sell, from time to time, Class A common
shares having an aggregate offering price of up to US$20,000,000, through or to AGP, as sales agent or principal under this prospectus
supplement and the accompanying prospectus.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-indent: 0.5in">Sales of Class A common shares, if any, under
this prospectus supplement and the accompanying prospectus will be made by any method permitted that is deemed an &#8220;at-the-market
offering&#8221; as defined in Rule 415 under the Securities Act of 1933, as amended, or the Securities Act. AGP is not required to sell
any specific number of dollar amount of securities but will act as our sales agent using commercially reasonable efforts consistent with
its normal trading and sales practices, on mutually agreed terms between AGP and us. There is no arrangement for funds to be received
in any escrow, trust or similar arrangement.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-indent: 0.5in">AGP will be entitled to compensation at a commission
rate equal to 3.0% of the gross sales price per share sold under the sales agreement. Because there is no minimum offering amount required
as a condition to close this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable
at this time. See &#8220;Plan of Distribution&#8221; beginning on page S-14 for additional information regarding the compensation to be
paid to AGP. In connection with the sale of the Class A common shares on our behalf, AGP will be deemed to be an &#8220;underwriter&#8221;
within the meaning of the Securities Act and the compensation of AGP will be deemed to be underwriting commissions or discounts. We have
also agreed to provide indemnification and contribution to AGP with respect to certain civil liabilities, including liabilities under
the Securities Act.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-indent: 0.5in">Our Class A common shares are traded on the
Nasdaq Capital Market under the symbol &#8220;ZENV.&#8221; On July 15, 2024, the last reported sale price of our Class A common shares
on the Nasdaq Capital Market was US$1.60 per Class A common share.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-indent: 0.5in">As of the date of this prospectus, the aggregate
market value of our outstanding common shares held by non-affiliates, was determined to be US$70,412,612 based on 28,069,050 Class A common
shares and 23,664,925 Class B common shares outstanding, of which 18,288,990 Class A common shares are held by non-affiliates, and the
closing sale price of our Class A common shares on the Nasdaq of US$3.85 on May 20, 2024, which is within 60 days of the date of this
prospectus. Pursuant to General Instruction I.B.5. of Form F-3, in no event will we sell the securities covered hereby in a public primary
offering with a value exceeding more than one-third of the aggregate market value of our Class A common shares held by non-affiliates
in any 12-month period so long as the aggregate market value of our outstanding common shares held by non-affiliates remains below US$75,000,000.
As of the date hereof, we have not offered any securities pursuant to General Instruction I.B.5 of Form F-3 during the twelve calendar
month period that ends on and includes the date hereof.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-indent: 0.5in">You should rely only on the information contained
herein or incorporated by reference in this prospectus supplement. We have not authorized any other person to provide you with different
information.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-indent: 0.5in"><B>Investing in our Class A common shares involves
a high degree of risk. See &#8220;Risk Factors&#8221; beginning on page S-8 of this prospectus supplement and page 7 of the accompanying
prospectus as well as in any documents incorporated by reference into this prospectus supplement and the accompanying prospectus.</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-indent: 0.5in"><B>Neither the U.S. Securities and Exchange
Commission, or the SEC, nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy
or accuracy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense.</B></P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: center; text-indent: 0in"><B>A.G.P.</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: center">The date of this prospectus supplement is July
16, 2024.</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="toc02"></A>Table of Contents</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0.1in; text-align: center; text-indent: -0.1in"><B>Prospectus Supplement</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Page</P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 90%; text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#b_001">ABOUT THIS PROSPECTUS SUPPLEMENT</A></TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 0pt">S-1</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#b_002">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-2</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#b_003">PROSPECTUS SUPPLEMENT SUMMARY</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-4</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#b_004">THE OFFERING</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-7</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#b_005">RISK FACTORS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-8</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#b_006">CAPITALIZATION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-10</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#b_007">DILUTION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-11</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#b_008">USE OF PROCEEDS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-12</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#b_009">DESCRIPTION OF SECURITIES WE ARE OFFERING</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-13</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#b_010">PLAN OF DISTRIBUTION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-14</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#b_011">TAXATION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-16</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#b_012">EXPENSES</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-20</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#b_013">LEGAL MATTERS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-21</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#b_014">EXPERTS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-22</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#b_015">WHERE YOU CAN FIND MORE INFORMATION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-23</TD></TR>
  <TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#b_016">INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">S-24</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.1in"><B>Prospectus</B></TD><TD STYLE="text-align: center; padding-right: 0.25in"></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Page</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="width: 90%; text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_001">ABOUT THIS PROSPECTUS</A></TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 0pt">1</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_002">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">2</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_003">PROSPECTUS SUMMARY</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">4</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_004">RISK FACTORS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">7</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_005">CAPITALIZATION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">8</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_006">USE OF PROCEEDS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">9</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_007">PLAN OF DISTRIBUTION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">10</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_008">DESCRIPTION OF SHARE CAPITAL</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">12</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_009">DESCRIPTION OF DEBT SECURITIES</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">30</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_010">DESCRIPTION OF WARRANTS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">33</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_011">DESCRIPTION OF RIGHTS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">34</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_012">DESCRIPTION OF UNITS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">35</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_013">TAXATION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">36</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_014">EXPENSES</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">37</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_015">MATERIAL CHANGES</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">38</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_016">LEGAL MATTERS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">39</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_017">EXPERTS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">40</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_018">ENFORCEMENT OF JUDGMENTS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">41</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_019">WHERE YOU CAN FIND MORE INFORMATION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">43</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_020">INCORPORATION OF DOCUMENTS BY REFERENCE</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">44</TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"></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">i</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="b_001"></A>ABOUT THIS PROSPECTUS
SUPPLEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">This document consists of two parts. The first part
is this prospectus supplement, including the documents incorporated by reference, which describes the specific terms of this offering
and other matters relating to us. The second part is the accompanying prospectus, which provides more general information about us and
the securities we may offer from time to time, some of which may not apply to this offering. This prospectus supplement and the accompanying
prospectus are part of the registration statement on Form F-3 (Registration No. 333-280284) that we filed with the SEC using a &#8220;shelf&#8221;
registration process. Under this &#8220;shelf&#8221; registration process, we may, from time to time, sell or issue any of the combination
of securities described in the accompanying prospectus in one or more offerings with a maximum aggregate offering price of up to US$100,000,000.
Each time we sell securities, we will or may, as applicable, provide a prospectus supplement that contains specific information about
the terms of that offering. A prospectus supplement may also add, update, or change information contained in the accompanying prospectus.
You should read both this prospectus supplement and the accompanying prospectus, together with the documents incorporated by reference
and the additional information described under the heading &#8220;Where You Can Find More Information&#8221; in this prospectus supplement
and the accompanying prospectus before making an investment decision.</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-indent: 0.25in">To the extent there is a conflict between the information
contained in this prospectus supplement and the accompanying prospectus, you should rely on the information in this prospectus supplement.
This prospectus supplement, the accompanying prospectus and the documents we incorporate by reference herein and therein include important
information about us, this offering and our securities and other information you should know before investing. If any statement in this
prospectus supplement conflicts with any statement in a document that has been incorporated herein by reference, then you should consider
only the statement in the more recent document.</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-indent: 0.25in">The distribution of this prospectus supplement and
the accompanying prospectus and the offering of the securities in certain jurisdictions may be restricted by law. We are not, and AGP
is not, making an offer of the securities in any jurisdiction where the offer is not permitted. Persons who come into possession of this
prospectus supplement and the accompanying prospectus should inform themselves about and observe any such restrictions. This prospectus
supplement and the accompanying prospectus do not constitute, and may not be used in connection with, an offer or solicitation by anyone
in any jurisdiction in which such offer or solicitation is not authorized or in which the person making such offer or solicitation is
not qualified to do so or to any person to whom it is unlawful to make such offer or solicitation.</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-indent: 0.25in">You should rely only on the information contained
in or incorporated by reference in this prospectus supplement, the accompanying prospectus, and any free writing prospectus prepared by
or on behalf of us or to which we have referred you. We have not, and AGP has not, authorized any person to provide you with any information
or to make any representation other than as contained in this prospectus supplement or in the accompanying prospectus and the information
incorporated by reference herein and therein. We and AGP do not take any responsibility for, and can provide no assurance as to the reliability
of, any information that others may provide you. The information appearing or incorporated by reference in this prospectus supplement
and the accompanying prospectus is accurate only as of the date of this prospectus supplement or the date of the document in which incorporated
information appears unless otherwise noted in such documents. Our business, financial condition, results of operations and prospects may
have changed since those dates. You should assume that the information appearing in this prospectus supplement, the accompanying prospectus
and the documents incorporated by reference herein and therein is accurate only as of the date of those respective documents. Our business,
financial condition, results of operations and prospects may have changed since those dates. You should carefully read this entire prospectus
supplement and the accompanying prospectus, including the information included and referred to under &#8220;Risk Factors&#8221; below,
the information incorporated by reference in this prospectus supplement and in the accompanying prospectus, and the financial statements
and the other information incorporated by reference in the accompanying prospectus, before making an investment decision.</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 0 12pt; text-indent: 0.5in">Unless otherwise indicated or the context otherwise
requires, in this prospectus supplement, &#8220;Zenvia,&#8221; the &#8220;Company,&#8221; the &#8220;Issuer,&#8221; &#8220;we,&#8221;
&#8220;us,&#8221; &#8220;our&#8221; or similar terms refer to Zenvia Inc. and its consolidated subsidiaries, except where the context
otherwise requires.<BR STYLE="clear: both">
</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="b_002"></A>SPECIAL NOTE
REGARDING FORWARD-LOOKING STATEMENTS</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">The statements contained in this prospectus
supplement and the accompanying prospectus and the documents incorporated by reference herein and therein include forward-looking statements
within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange
Act, that relate to future events and, as such, are subject to risks, uncertainties and other factors that may cause our actual results,
levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements
expressed or implied by these forward-looking statements. Words such as, but not limited to, &#8220;aim,&#8221; &#8220;anticipate,&#8221;
&#8220;believe,&#8221; &#8220;can,&#8221; &#8220;confident,&#8221; &#8220;continue,&#8221; &#8220;could,&#8221; &#8220;estimate,&#8221;
&#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;likely,&#8221; &#8220;may,&#8221; &#8220;might,&#8221; &#8220;plan,&#8221; &#8220;potential,&#8221;
&#8220;predict,&#8221; &#8220;probable,&#8221; &#8220;project,&#8221; &#8220;seek,&#8221; &#8220;should,&#8221; &#8220;target,&#8221;
&#8220;will,&#8221; &#8220;would&#8221; and similar expressions or phrases or the opposite of those terms, expressions or phrases, are
intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0; text-indent: 0.5in"><FONT STYLE="background-color: white"><B>Readers
are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made.
There is no assurance that the expected events, trends or results will actually occur and we undertake no obligation to update publicly
or revise any forward-looking statements and estimates whether as a result of new information, future events or otherwise.</B></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">Forward-looking statements include, but
are not limited to, statements regarding our current belief or expectations as of the date any such statements were made and estimates
on future events and trends that affect or may affect our business, financial condition, results of operations, liquidity, prospects and
the trading price of our Class A common shares. Although we believe that we have a reasonable basis for each forward-looking statement
contained in this prospectus supplement and incorporated by reference in the accompanying prospectus, we caution you that these statements
are based on assumptions and information currently available to us, which are subject to risks and uncertainties and other factors that
may cause our actual results, level of activity, performance or achievements expressed or implied by these forward-looking statements,
to differ.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">The sections in our periodic reports, including
our annual report on Form 20-F for the fiscal year ended December 31, 2023, titled &#8220;Information on the Company,&#8221; &#8220;Risk
Factors,&#8221; and &#8220;Operating and Financial Review and Prospects,&#8221; as well as other sections in this prospectus supplement
and the documents or reports incorporated by reference herein, discuss some of the factors that could contribute to these differences.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">These forward-looking statements include,
among other things, statements about:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to increase cash generation and/or obtain funding through issuance of new equity or debt to comply with short and long
term liabilities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to achieve or maintain profitability;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to face challenges in the expansion of our operations into new market segments and/or new geographic regions within and
outside of Brazil;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to successfully develop, acquire and integrate new businesses as customers in new industry verticals and appropriately
manage our international expansion;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our failure to enhance our brand recognition or maintain a positive public image;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our failure to implement adequate internal controls, including in the acquired companies;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the inherent risks related to the SaaS and CPaaS market, such as the interruption, failure or breach of our computer or information
technology systems, resulting in the degradation of the quality or a decline in the use of the products and services we offer;</TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>general macro- and micro-economic, political and business conditions in Brazil and other countries where we operate and the impact
on our business, notably with respect to inflation and interest rates and their impact on the discretionary spending of businesses, as
well as the impact of these conditions into our growth expectations and overall performance of our operations;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the impact of substantial and increasing competition in our market, innovation by our competitors, and our ability to compete effectively;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our compliance with applicable regulatory and legislative developments and regulations and legislation that currently apply or become
applicable to our business as we continue to grow;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to attract and retain qualified personnel while controlling our personnel related expenses, as well as the lack of a qualified
labor force (particularly developers);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the dependence of our business on our relationship with service providers as well with certain cloud infrastructure providers, and
volatility of the costs related therewith;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to maintain, protect and enhance our brand and intellectual property;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to maintain our classification as an emerging growth company under the JOBS Act;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>other factors that may affect our financial condition, liquidity and results of operations; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>other risk factors discussed under the section titled &#8220;Risk Factors&#8221; in our most recent annual report on Form 20-F for
the fiscal year ended December 31, 2023, as revised or supplemented by our subsequent periodic reports filed under the Exchange Act, as
well as any amendments thereto, as filed with the SEC and which are incorporated by reference.</TD></TR></TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">Given such limitations, you should not
place undue reliance on or make any investment decision on the basis of the forward-looking statements contained herein. You are cautioned
that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual
results may differ materially from those in the forward-looking statements. In light of the risks, uncertainties and assumptions associated
with forward-looking statements, you should not place undue reliance on any forward-looking statements. Additional risks that we may currently
deem immaterial or that are not presently known to us could also cause the forward-looking events discussed in this prospectus supplement
not to occur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The forward-looking statements contained in
this document speak only as of the date they are made. We do not undertake any obligation or intend to update any of the forward-looking
statements after the date of this prospectus supplement to conform these statements in light of new information or future developments
to actual results or changes in our expectations, except as required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="b_003"></A>PROSPECTUS SUPPLEMENT
SUMMARY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><I>This summary highlights selected information
about us and this offering appearing in this prospectus supplement, the accompanying prospectus and the documents incorporated or deemed
incorporated by reference herein and therein. This summary may not contain all of the information that you should consider before making
an investment decision. You should read carefully the more detailed information included or referred to under the heading &#8220;Risk
Factors&#8221; of this prospectus supplement and the other information included in this prospectus supplement, the accompanying prospectus,
the documents incorporated or deemed incorporated by reference herein and therein, including our annual report on Form 20-F for the year
ended December 31, 2023, before deciding to invest in our Class A common shares.</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Our Pledge</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-weight: normal"><I>We are
driven by the purpose of shaping a new world of experiences, empowering companies to create unique experiences for end-consumer through
a unified end-to-end platform.</I></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Overview</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We create differentiated customer journeys
by empowering companies to transform their existing customer experience from non-scalable, physical and impersonal interactions into highly
scalable, digital first and hyper contextualized experiences.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Businesses all over the world are shaping
new customer experiences with the power of digital communications and process automations. However, businesses seeking to implement multi-channel
communication experiences for their end-consumers are frequently faced with multiple challenges given the complexities of implementing
and integrating such processes and level of investments that they require. We provide businesses with a solution to this problem by offering
a unified end-to-end CX SaaS platform at affordable prices. Our comprehensive platform assists our customers across multiple use cases,
including marketing campaigns, customer acquisition, customer support, through tickets resolutions, and enabling companies to continuously
engage customers based on their unique background, promoting healthy and long-lasting relationships, transforming data into insights.
Also, our CPaaS products provide warnings, fraud control, as well as marketing campaigns and others.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Our CX SaaS platform allows companies to
digitally interact with their end-consumers in a personalized and highly contextualized way, with the support of artificial intelligence
along with a human touch throughout the end-consumer journey. Our unified end-to-end CX SaaS platform provides a combination of our (i)
SaaS portfolio, which includes Zenvia Attraction, Zenvia Conversion, Zenvia Service, and Zenvia Success and (ii) CPaaS solutions, such
as SMS, Voice, WhatsApp, Instagram and Webchat, all such applications being orchestrated and automated by chatbots, single customer view,
journey designer, documents composer and authentication. Moreover, our platform allows the integration with legacy systems and has native
integrations with software such as Customer Relationship Management (CRM), Enterprise Resource Planning (ERP) and others.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">From small family-owned businesses to large
corporations, our customers use our platform to attract, convert, serve and nurture their end-consumers. Businesses use our platform to
frequently and more seamlessly connect with their end-consumers while also offering new mobile application experiences. Also, the use
of our platform brings opportunities to digitalize communications that were previously sent through offline traditional methods, such
printing hardcopies of documents, generating time efficiency and a positive contribution to the environment, by helping a variety of businesses
adopt paperless communications. One of our clients, a Brazilian insurance company, reported that in 2022 it had reduced paper use by 97
tons, by replacing traditional paper-based communication with digital communication. In addition, during the same period with the same
customer, we also contributed to the environmental initiatives by reducing plastic consumption by 7 tons and water consumption by more
than 1 million liters.</P>


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<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Zenvia has evolved its product portfolio
organically and through acquisitions. As a result, our platform now provides four SaaS solutions (Zenvia Attraction, Zenvia Conversion,
Zenvia Service and Zenvia Success) and Consulting designed for each phase of our customers&#8217; journey, allowing a continuous relationship
with our brand.&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The SaaS segment carries higher Gross Margin
compared to our other products and we believe which will bring the most growth in the future. Due to our strategy, our SaaS solutions
represent a significant part of our Gross Profit, which was almost nonexistent nearly three years ago.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In the three months ended March 31, 2024, 37.8%
of our gross profit originated from our SaaS segment while 62.2% of our gross profit originated from our CPaaS segment. In the year ended
December 31, 2023, 41.2% of our gross profit originated from our SaaS segment while 58.8% of our gross profit originated from our CPaaS
segment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>Recent Developments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B><I>Disapplication of Preemptive Rights of Class
B Shareholders under Our Memorandum and Articles of Association</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Holders of our Class B common shares are entitled
to maintain a proportional ownership interest in such shares in the event that additional Class A common shares are issued. As such, except
for certain exceptions, if we issue Class A common shares, we must first make an offer to each holder of Class B common shares to issue
to such holder on the same economic terms such number of Class B common shares as would ensure such holder may maintain a proportional
ownership interest into us. This preemptive right may be waived by each holder of Class B common shares. In connection with this offering,
all of our Class B shareholders (Bobsin Corp., an entity wholly owned by Cassio Bobsin, our founder and CEO, Oria Zenvia Co-investment
Holdings, LP, Oria Tech Zenvia Co-investment &#8211; Fundo de Investimento em Participa&ccedil;&otilde;es Multiestrat&eacute;gia and Oria
Tech I Inova&ccedil;&atilde;o Fundo de Investimento em Participa&ccedil;&otilde;es Multiestrat&eacute;gia) have disapplied their respective
preemptive rights pursuant to our articles of association. For a description of our memorandum and articles of association, please see
&#8220;Exhibit 2.01. Description of Securities Registered under Section 12 of the Exchange Act&#8221; in our most recent annual report
on Form 20-F for the fiscal year ended December 31, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B><I>Waiver of Liquidity Event under the Investment
Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In February 2024, we entered into an
investment agreement with Bobsin Corp., an entity wholly owned by Cassio Bobsin, our founder and CEO, pursuant to which we issued
and Bobsin Corp. acquired 8,860,535 of our Class A common shares. In accordance with the terms of the agreement, for a period of
three years from the closing date of the investment, Bobsin Corp. will be entitled to receive as a return on its investment,
additional cash or an equivalent amount in common shares issued by us, upon the occurrence of certain future liquidity or corporate
transaction events (such as the occurrence of an equity follow-on and the sale of our control) (each, a &#8220;Liquidity
Event&#8221;). In connection therewith, we have requested from Bobsin Corp. and Bobsin Corp. has granted a waiver such that this
offering is not deemed a Liquidity Event and Bobsin Corp. will not receive any return thereon. For further information on the
investment agreement and the waiver, please see &#8220;Item 4. Information on the Company&#8212;A. Our History&#8212;Initial Public Offering and
Concurrent Private Placement and Recent Equity Raise&#8221; in our most recent annual report on Form 20-F for the fiscal year ended
December 31, 2023 and note 16 to our unaudited interim condensed consolidated financial statements as of March 31, 2024.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Our Corporate Information</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Zenvia Inc. was incorporated on November
3, 2020, as a Cayman Islands exempted company with limited liability duly registered with the Cayman Islands Registrar of Companies. We
are subject to applicable laws of the Cayman Islands including the Companies Act (as amended) of the Cayman Islands and the common law
of the Cayman Islands.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Our principal executive office is located
at Avenida Paulista, 2300, 18th Floor, S&atilde;o Paulo, S&atilde;o Paulo, CEP 01310-300, Brazil. Our registered office is located at
Maples Corporate Services Limited, P.O. Box 309, Ugland House, Grand Cayman KYI-1104, Cayman Islands. Our investor relations website is
https://investors.zenvia.com.</P>


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<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt">The information contained on, or that can be accessed through,
our website is not a part of this prospectus supplement and the accompanying prospectus.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Foreign Private Issuer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We are a &#8220;foreign private issuer&#8221;
as defined under the Exchange Act. As a foreign private issuer under the Exchange Act, we are exempt from certain rules under the Exchange
Act, including the proxy rules, which impose certain disclosure and procedural requirements for proxy solicitations. Moreover, we are
not required to file periodic reports and financial statements with the SEC as frequently or as promptly as domestic U.S. companies with
securities registered under the Exchange Act, and we are not required to comply with Regulation FD, which imposes certain restrictions
on the selective disclosure of material information. In addition, our officers, directors, and principal shareholders are exempt from
the reporting and &#8220;short-swing&#8221; profit recovery provisions of Section 16 of the Exchange Act. They are, however, subject to
the obligations to report changes in share ownership under Section 13 of the Exchange Act and related SEC rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In addition, as Zenvia Inc. is a publicly-held
company listed on the Nasdaq Capital Market since July 2021, we are subject to the Nasdaq corporate governance requirements. However,
the Nasdaq listing standards provide that foreign private issuers, like us, are permitted to follow home country corporate governance
practices in lieu of the Nasdaq rules, with certain exceptions. In accordance with this exception, we follow Cayman Islands corporate
governance practices in lieu of certain of the Nasdaq corporate governance standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>Emerging Growth Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We are an &#8220;emerging growth company,&#8221; as
defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. We will
remain an emerging growth company until the earlier of (1) the last day of the fiscal year (a) following the fifth anniversary of the
completion of our initial public offering, (b) in which we have total annual revenues of at least US$1.235 billion, or (c) in which we
are deemed to be a large accelerated filer, which means the market value of our shares that is held by non-affiliates exceeds US$700.0
million, as of the prior June 30, and (2) the date on which we have issued more than US$1.00 billion in non-convertible debt during the
prior three-year period. As an emerging growth company, we are eligible to take advantage of certain exemptions from various reporting
requirements that are applicable to other public companies in the United States that are not emerging growth companies including, but
not limited to, exemptions from the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, or the Sarbanes-Oxley
Act, and any Public Company Accounting Oversight Board, or PCAOB, rules, including any future audit rule promulgated by the PCAOB (unless
the SEC determines otherwise). Accordingly, the information about us available to investors will not be the same as, and may be more limited
than, the information available to shareholders of a non-emerging growth company.</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"><B>Risks Affecting Our Company</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In evaluating an investment in our Class A common shares,
you should carefully read this prospectus supplement and especially consider the factors incorporated by reference in the sections titled
&#8220;Risk Factors&#8221; in this prospectus supplement, the accompanying prospectus and our annual report on Form 20-F for the fiscal
year ended December 31, 2023 incorporated by reference herein.</P>

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="b_004"></A>THE OFFERING</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in"><FONT STYLE="font-size: 11pt"><B>Issuer</B>&#9;</FONT></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in"><FONT STYLE="font-size: 11pt">Zenvia Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in"><FONT STYLE="font-size: 11pt"><B>Class A common shares offered by us</B>&#9;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in"><FONT STYLE="font-size: 11pt">Class A common shares having aggregate gross sales proceeds of up to US$20,000,000.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in"><FONT STYLE="font-size: 11pt"><B>Class A common shares outstanding before the offering</B>&#9;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in"><FONT STYLE="font-size: 11pt">28,069,050 Class A common shares.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in"><FONT STYLE="font-size: 11pt"><B>Class A common shares to be outstanding after the offering</B>&#9;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in"><FONT STYLE="font-size: 11pt">Up to 40,569,050 Class A common shares, assuming sales of 12,500,000 Class A common shares in this offering at a price of US$$1.60 per Class A common share, which was the last reported sale price of our Class A common shares on the Nasdaq as of July 15, 2024. The actual number of Class A common shares will vary depending on the sales price under this offering.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in"><FONT STYLE="font-size: 11pt"><B>Class B common shares outstanding before the offering</B>&#9;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in"><FONT STYLE="font-size: 11pt">23,664,925 Class B common shares.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in"><FONT STYLE="font-size: 11pt"><B>Manner of the offering</B>&#9;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in"><FONT STYLE="font-size: 11pt">&#8220;At-the-market offering&#8221; as defined in Rule 415(a)(4) under the Securities Act, that may be made from time to time on the Nasdaq, the existing trading market for our Class A common shares, through or to AGP, as sales agent or principal. See the section titled &#8220;Plan of Distribution&#8221; on page S-14 of this prospectus supplement.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in"><FONT STYLE="font-size: 11pt"><B>Use of proceeds</B>&#9;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in"><FONT STYLE="font-size: 11pt">We estimate that our net proceeds from this offering (assuming that all Class A common shares offered in this offering are sold ) will be approximately US$18,167,786, after deducting the sales agent fees and the estimated offering expenses payable by us. We intend to use the net proceeds from this offering as described in the &#8220;Use of Proceeds&#8221; section of this prospectus supplement.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in"><FONT STYLE="font-size: 11pt"><B>Risk factors</B>&#9;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in"><FONT STYLE="font-size: 11pt">Investing in our Class A common shares involves certain risks. See &#8220;Risk Factors&#8221; on page S-8 of this prospectus supplement and on page 7 of the accompanying prospectus.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in"><FONT STYLE="font-size: 11pt"><B>Nasdaq trading symbol of Class A common shares</B>&#9;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-indent: 0in"><FONT STYLE="font-size: 11pt">Our Class A common shares are traded on the Nasdaq Capital Market under the symbol &#8220;ZENV&#8221;.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="b_005"></A>RISK FACTORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><I>Investing in our securities involves significant
risk. You should carefully review the risk factors described below and discussed under the caption &#8220;Risk Factors&#8221; on page
7 of the accompanying prospectus (including information incorporated by reference thereto) and the risk factors described under the heading
&#8220;Risk Factors&#8221; included in our most recent annual report on Form 20-F, which are incorporated herein by reference, and which
may be amended, supplemented or superseded from time to time by other reports we file with the SEC in the future before deciding whether
to purchase any Class A common shares being offered hereunder. Each of the risk factors described in this prospectus supplement or in
the accompanying prospectus could adversely affect our business, operating results and financial condition, as well as adversely affect
the value of an investment in our Class A common shares. Moreover, the risks described below are not the only risks we face. Additional
risks and uncertainties not presently known to us or that we currently deem immaterial may also affect our operations. The occurrence
of any of these risks might cause you to lose all or part of your investment in our Class A common shares. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Certain Risks Relating to Our Class A Common Shares and This Offering</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 0 12pt; text-indent: 0in"><B><I>The market for our Class A common shares
may not provide investors with adequate liquidity.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Liquidity of the market for our Class A common
shares depends on a number of factors, including our financial condition and operating results, the number of holders of our Class A common
shares, the market for similar securities and the interest of securities dealers in making a market in the securities. We cannot predict
the extent to which investor interest in us will maintain a trading market in our Class A common shares, or how liquid that market will
be. If an active market is not maintained, you may have difficulty selling Class A common shares that you hold.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B><I>It is not possible to predict the actual
number of Class A common shares that we will sell under the sales agreement or the gross proceeds resulting from those sales.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Subject to certain limitations in the sales
agreement and compliance with applicable law, we have the discretion to deliver a sales notice to AGP at any time throughout the term
of the sales agreement. Pursuant to this prospectus supplement, we may sell up to 12,500,000 Class A common shares, assuming an offering
price of US$1.60 per share, which was the last reported sale price of our Class A common shares on the Nasdaq on July 15, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The number of Class A common shares that are
sold through AGP will fluctuate based on a number of factors, including the market price of the Class A common shares during the sales
period, the limits we set with AGP in any applicable sales notice, and the demand for our Class A common shares during the sales period.
Because the price per share of each Class A common share sold will fluctuate during the sales period, it is not possible to predict the
number of Class A common shares that will be sold or the gross proceeds we will raise in connection with those sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B><I>The Class A common shares offered hereby
will be sold in &#8220;at-the-market offerings&#8221; and investors who buy our Class A common shares at different times will likely pay
different prices.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Investors who purchase Class A common shares
in this offering at different times will likely pay different prices, and so may experience different levels of dilution and different
outcomes in their investment results. We will have discretion, subject to market demand, to vary the timing, prices, and numbers of shares
sold in this offering. In addition, there is no minimum or maximum sales price of our Class A common shares offered hereby. You may experience
a decline in the value of Class A common shares that you purchase in this offering as a result of sales made at prices lower than the
prices they paid.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B><I>You may experience immediate dilution in
the net tangible book value per Class A common share that you purchase and the sale of a substantial number of Class A common shares could
cause the price of our Class A common shares to decline.</I></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The price per Class A common share offered hereunder
may be higher than the net tangible book value per Class A common share prior to your purchase. In such event, you will suffer immediate
dilution in an amount representing the difference between our net tangible book value per Class A common share after giving effect to
your purchase and the purchase price per Class A common share that you pay in the offering. In addition, depending upon market liquidity
at the time, subsequent sales of the Class A common shares issued in this offering into the public markets may cause the trading price
of our Class A common shares to decline. See &#8220;Dilution.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B><I>We have broad discretion in the use of the
net proceeds from this offering and may not use them effectively.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Our management will have broad discretion in
the application of the net proceeds from the offering, including for any of the purposes described in &#8220;Use of Proceeds.&#8221; You
will not have the opportunity as part of your investment decision to assess whether the net proceeds are being used effectively. Because
of the number and variability of factors that will determine our use of the net proceeds, their ultimate use may differ substantially
from what we currently intend. The failure by our management to apply these funds effectively could adversely affect us. Pending their
use, we may invest the net proceeds in short-term, investment-grade, interest-bearing securities or commercial bank accounts. While we
intend to invest the net proceeds conservatively, there is no assurance that these investments will not decline in value or yield reasonable
returns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Class A common shares representing a substantial
percentage of our outstanding Class A common shares may be sold in this offering, which could cause the price of our Class A common shares
to decline.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to this offering, and subject to limits we
set with AGP, as well as any limits under applicable law or exchange listing rules, we may sell up to 12,500,000 Class A common shares,
assuming an offering price of US$1.60 per Class A common share, which was the last reported sale price of our Class A common shares on
the Nasdaq on July 15, 2024, representing approximately 30.8% of our outstanding Class A common shares as of July 15, 2024, if we sell
all 12,500,000 Class A common shares that could be offered pursuant to this prospectus supplement. These sales and any future sales of
a substantial number of Class A common shares in the public market, or the perception that such sales may occur, could materially adversely
affect the price of our Class A common shares. We cannot predict the effect, if any, that market sales of such Class A common shares or
the availability of such Class A Common Shares for sale will have on the market price of our Class A common shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B><I>We may issue additional securities in the
future, which may result in dilution to our shareholders.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We are not restricted from issuing additional
Class A common shares or securities convertible into or exchangeable for Class A common shares. Because we anticipate we will need to
raise additional capital to operate and/or expand our business, we expect to conduct equity offerings in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">There is no limit on the number of Class A common
shares we may issue under our articles of association, however the board of directors&#8217; authority to allot Class A common shares
is limited to the extent authorized by our shareholders. To the extent we conduct additional equity offerings, additional Class A common
shares will be issued, which may result in dilution to our shareholders. The Class A common shares underlying our securities may be eligible
for public resale in the future, either pursuant to registration or an exemption from registration. Issuance of additional equity awards,
or future sales of substantial numbers of shares in the public market could adversely affect the market price of our Class A common shares.
In addition, issuances of a substantial number of shares will reduce the equity interest of our existing investors and could cause a change
in control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="b_006"></A>CAPITALIZATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The table below sets forth our (i) current and
non-current loans, borrowings and debentures, (ii) total equity and (iii) total capitalization (defined as the sum of current and non-current
loans, borrowing and debentures plus total equity) as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>on an actual basis, derived from our unaudited interim condensed consolidated financial statements as of March 31, 2024, which are
incorporated by reference herein; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>on an as adjusted basis to give effect to the sale of our Class A common shares pursuant to this prospectus supplement. This calculation
assumed the issuance and sale of 12,500,000 Class A common shares at an assumed price of US$1.60 per Class A common share, which is the
closing price of our Class A common shares on the Nasdaq Capital Market on July 15, 2024, resulting in assumed gross proceeds of US$20,000,000
 (assuming that all shares offered in this offering are sold). The actual number of shares issued, and the price at which they
are issued, may differ depending on the timing of the sales. See &#8220;Risk Factors&#8212;Certain Risks Relating to Our Class A Common
Shares and This Offering&#8212;It is not possible to predict the actual number of Class A common shares that we will sell under the sales
agreement or the gross proceeds resulting from those sales.&#8221;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;The
amounts shown below are unaudited. The information in the following table should be read in conjunction with and is qualified in its
entirety by reference to our audited consolidated financial statements as of December 31, 2023 and 2022 and for each of the three years
in the period ended December 31, 2023 and notes thereto included in our most recent annual report on Form 20-F for the fiscal year ended
December 31, 2023 and the other financial information incorporated by reference into this prospectus supplement.</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0.1in; padding-left: 4.5pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.5pt; padding-left: 4.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>As of March 31,
    2024</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 66%; padding-right: 0.1in; padding-left: 4.5pt; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 16%; padding-right: 4.5pt; padding-left: 4.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Actual</B></P></TD>
    <TD STYLE="width: 18%; padding-right: 4.5pt; padding-left: 4.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>As Adjusted<SUP>(1)</SUP></B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 0.1in; padding-left: 4.5pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 4.5pt; padding-left: 4.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><I>(in R$ thousands)</I></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 4.5pt; padding-left: 4.5pt">Loans, borrowings and debentures, current&#9;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 3.35pt; padding-left: 4.5pt; text-align: right">33,696</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 4.5pt; padding-left: 4.5pt; text-align: right">33,696</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 4.5pt; padding-left: 4.5pt">Loans and borrowings, non-current&#9;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 3.35pt; padding-left: 4.5pt; text-align: right">59,844</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 4.5pt; padding-left: 4.5pt; text-align: right">59,844</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 4.5pt; padding-left: 4.5pt">Total equity&#9;</TD>
    <TD STYLE="padding-right: 4.5pt; padding-left: 4.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; border-bottom: Black 0.5pt solid">837,520</P></TD>
    <TD STYLE="padding-right: 4.5pt; padding-left: 4.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; border-bottom: Black 0.5pt solid">937,440</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 6pt; padding-left: 4.3pt"><B>Total capitalization<SUP>(2)</SUP></B>&#9;</TD>
    <TD STYLE="padding-right: 4.5pt; padding-left: 4.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: right; border-bottom: Black 1.5pt double"><B>931,060</B></P></TD>
    <TD STYLE="padding-right: 4.5pt; padding-left: 4.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: right; border-bottom: Black 1.5pt double"><B>1,030,980</B></P></TD></TR>
  </TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>Gives effect to the sale of our Class A common shares pursuant to this prospectus
supplement. This calculation assumed the issuance and sale of 12,500,000 Class A common shares at an assumed price of US$1.60 per Class
A common share, which is the closing price of our Class A common shares on the Nasdaq Capital Market on July 15, 2024, resulting in assumed
gross proceeds of R$99,920,000 (US$20,000,000 based on the <I>real</I>/U.S. dollar exchange rate reported by the Brazilian Central Bank
of R$4.996 per US$1.00 on March 31, 2024), assuming that all shares offered in this offering are sold. The actual number of shares issued,
and the price at which they are issued, may differ depending on the timing of the sales.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>Total capitalization corresponds to the sum of our current and non-current loans borrowings and debentures <I>plus</I> total equity.</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">There have been no material changes to our capitalization since March 31,
2024.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="background-color: white"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="b_007"></A>DILUTION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If you invest in our Class A common shares in this
offering, your interest will be immediately diluted to the extent of the difference between the public offering price per share and the
adjusted net tangible book value per share after the completion of this offering.</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-indent: 0.5in">Our net tangible book deficit on March 31, 2024 was
R$501,601 thousand (US$100,401 thousand based on the <I>real</I>/U.S. dollar exchange rate reported by the Brazilian Central Bank of
R$4.996 per US$1.00 on March 31, 2024), or US$1.98 per common share, based on an aggregate of 50,745,005 common shares outstanding as
of that date. &ldquo;Net tangible book deficit&rdquo; represents total tangible assets <I>minus</I> total liabilities. Total tangible
assets is calculated as total assets <I>less</I> intangible assets. &ldquo;Net tangible book deficit per share&rdquo; is net tangible
book deficit <I>divided by</I> the total number of Class A and Class B common shares outstanding.</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-indent: 0.5in">After giving effect to the sale of our Class A common
shares in this offering, assuming an public offering price of US$1.60 per share, which was the last reported sale price of our Class A
common shares on the Nasdaq on July 15, 2024, and assuming the sale of the maximum offering amount pursuant to this prospectus supplement
and before deducting commissions and estimated offering expenses payable by us of US$20,000 thousand, our adjusted net tangible book deficit
as of March 31, 2024 would have been US$80,401 thousand, or US$1.27 per common share. This represents an immediate decrease in net tangible
book deficit of US$0.71 per share to our existing shareholders and an immediate decrease in net tangible book value of US$2.87 per share
to investors participating in this offering.</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">The following table illustrates this dilution per share
to investors participating in this offering:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 87%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">Assumed public offering price per Class A common share in this offering&#9;</FONT></TD>
    <TD STYLE="width: 4%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 4%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">US$</FONT></TD>
    <TD STYLE="width: 4%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">1.60</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">Net tangible book deficit per common share as of March 31, 2024&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">1.98</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">Decrease in net tangible book deficit per common share to existing shareholders&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">0.71</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-bottom: 0.75pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">As adjusted net tangible book deficit per common share as of March 31, 2024, after giving effect to this offering&#9;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">1.27</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">Net dilution per common share to investors in this offering&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 2.25pt double">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">2.87</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-bottom: 2.25pt">&nbsp;</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">As of the date of this prospectus supplement, 28,069,050 Class A common
shares and 23,664,925 Class B common shares of our authorized share capital were issued, fully paid and outstanding.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="b_008"></A>USE OF PROCEEDS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We may issue and sell our Class A common shares
having an aggregate offering price of up to <FONT STYLE="font-size: 9pt">R$99,920,000 (</FONT>US$20,000,000 <FONT STYLE="font-size: 9pt">based
on the <I>real</I>/U.S. dollar exchange rate reported by the Brazilian Central Bank of R$4.996 per US$1.00 on March 31, 2024) </FONT>from
time to time under this prospectus supplement and the accompanying prospectus. Because there is no minimum offering amount required as
a condition to close this offering, the actual public offering amount, commissions to AGP and proceeds to us, if any, are not determinable
at this time. There can be no assurance that we will sell any Class A common shares under the sales agreement. See &ldquo;Plan of Distribution&rdquo;
in this prospectus supplement for more information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We intend to use any net proceeds from the sale
of Class A common shares under this prospectus supplement to provide additional capital to support the development and growth of our business,
increase our capitalization, pay outstanding indebtedness, provide us with greater financial flexibility and allocate for general corporate
purposes including, but not limited to, working capital, capital expenditures, investments, acquisitions, if any. We have not determined
the amounts we plan to spend on any of the areas listed above or the timing of these expenditures. As a result, our management will have
broad discretion to allocate the net proceeds, if any, we receive in connection with securities offered pursuant to this prospectus supplement
for any purpose. Pending application of the net proceeds as described above, we may initially invest the net proceeds in short-term, investment-grade
and interest-bearing securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The foregoing represents our current intentions
based upon our present plans and business conditions to use and allocate the net proceeds from this offering. Our management, however,
will have significant flexibility and discretion to apply the net proceeds from this offering. If an unforeseen event occurs or business
conditions change, we may use the proceeds from this offering differently than as described in this prospectus supplement. Unforeseen
events or changed business conditions may result in application of the proceeds from this offering in a manner other than as described
in this prospectus supplement.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="b_009"></A>DESCRIPTION
OF SECURITIES WE ARE OFFERING</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We are offering a number of our Class A common shares
for an aggregate value of up to US$20,000,000 pursuant to this prospectus supplement and the accompanying prospectus. The material terms
and provisions of our Class A common shares are described under the caption &#8220;Description of Share Capital&#8221; beginning on page
12 of the accompanying prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; color: red">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; color: red">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="b_010"></A>PLAN OF DISTRIBUTION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We have entered into a sales agreement, or the
sales agreement, with A.G.P./Alliance Global Partners, or AGP, pursuant to which we may issue and sell Class A common shares having an
aggregate offering price of up to US$20,000,000 from time to time solely through or to AGP acting as sales agent or principal. A copy
of the sales agreement was filed with the SEC as an exhibit to a current report on Form 6-K and incorporated by reference herein. Our
Class A common shares registered under this prospectus supplement are subject to sale under the sales agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Upon delivery of a placement notice and subject
to the terms and conditions of the sales agreement, AGP may sell our Class A common shares by any method permitted by law deemed to be
an &#8220;at-the-market offering&#8221; as defined in Rule 415 promulgated under the Securities Act. We or AGP may terminate the sales
agreement and the offering of our Class A common shares upon notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We will pay AGP in cash, upon each sale of our
Class A common shares pursuant to the sales agreement, a commission equal to 3.0% of the aggregate gross proceeds from the sale of our
Class A common shares. Because there is no minimum offering amount required as a condition to this offering, the actual total public offering
amount, commissions and proceeds to us, if any, are not determinable at this time. We have agreed to reimburse AGP in the amount not to
exceed US$50,000 for its reasonable and documented out-of-pocket expenses (including but not limited to the reasonable and documented
fees and expenses of its legal counsel) incurred in connection with the sales agreement, and for the reasonable and documented out-of-pocket
expenses related to quarterly maintenance of the sales agreement on a quarterly basis in an amount not to exceed US$2,500 (and in no event
more than US$10,000 per fiscal year).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We estimate that the total expenses for this
offering, excluding compensation payable to AGP and certain expenses reimbursable to AGP under the terms of the sales agreement, will
be approximately US$1,502,214. The remaining sales proceeds, after deducting any expenses payable by us and any transaction fees imposed
by any governmental, regulatory, or self-regulatory organization in connection with the sales, will equal our net proceeds for the sale
of such common share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Settlement for sales of our Class A common shares
will occur on the first (1st ) Trading Day (as such term is defined in the sales agreement) following the date on which any sales are
made, or on some other date that is agreed upon by us and AGP in connection with a particular transaction, in return for payment of the
net proceeds to us. There is no arrangement for funds to be received in an escrow, trust or similar arrangement. Sales of our Class A
common shares as contemplated in this prospectus supplement will be settled through the facilities of The Depository Trust Company or
by such other means as we and AGP may agree upon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">AGP will act as sales agent on a commercially
reasonable efforts basis consistent with its normal trading and sales practices and applicable state and federal laws, rules and regulations
and the rules of the Nasdaq Capital Market. In connection with the sale of the common shares on our behalf, AGP will be deemed to be an
&#8220;underwriter&#8221; within the meaning of the Securities Act and the compensation of AGP will be deemed to be underwriting commissions
or discounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">AGP and/or its affiliates have provided, and
may in the future provide, various investment banking and other financial services for us, for which services they have received and may
in the future receive customary fees.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We have agreed to indemnify AGP against certain civil
liabilities, including liabilities under the Securities Act. We have also agreed to contribute to payments AGP may be required to make
in respect to such liabilities.</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"><B>Electronic Distribution</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This prospectus supplement and the accompanying prospectus
may be made available in electronic format on websites or through other online services maintained by AGP or by its respective affiliates.
Other than this prospectus supplement and the accompanying prospectus in electronic format, the information on AGP&#8217;s websites and
any information contained in any other websites maintained by AGP is not part of this prospectus supplement or the accompanying prospectus
or the registration statement of which this prospectus supplement and the accompanying prospectus forms a part, has not been approved
and/or endorsed by us or AGP, and should not be relied upon by investors.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>


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<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"><B>Termination</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">The offering of our Class A common shares pursuant
to the sales agreement will terminate upon the earlier of the (i) sale of all of our Class A common shares provided for in this prospectus
supplement, or (ii) termination of the sales agreement as permitted therein. We may terminate the sales agreement in our sole discretion
at any time by giving five (5) days&#8217; prior notice to AGP. AGP may terminate the sales agreement under the circumstances specified
in the sales agreement and in its sole discretion at any time by giving five (5) days&#8217; prior notice to us.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="b_011"></A>TAXATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Certain Cayman Islands Tax Considerations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Cayman Islands laws currently levy no taxes
on individuals or corporations based upon profits, income, gains or appreciation and there is no taxation in the nature of inheritance
tax or estate duty or withholding tax applicable to us or to any holder of Class&nbsp;A common shares. There are no other taxes likely
to be material to us levied by the government of the Cayman Islands except for stamp duties which may be applicable on instruments executed
in, or after execution brought within the jurisdiction of, the Cayman Islands. No stamp duty is payable in the Cayman Islands on transfers
of shares of Cayman Islands companies except those which hold interests in land in the Cayman Islands. The Cayman Islands is not party
to any double tax treaties which are applicable to any payments made by or to our company. There are no exchange control regulations or
currency restrictions in the Cayman Islands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">As a Cayman Islands exempted company with limited
liability, we are entitled, upon application, to receive an undertaking as to tax concessions pursuant to Section&nbsp;6 of the Tax Concessions
Act (As Revised) of the Cayman Islands. This undertaking would provide that, for a period of 20&nbsp;years from the date of issue of the
undertaking, no law thereafter enacted in the Cayman Islands imposing any taxes to be levied on profits, income, gains or appreciation
will apply to us or our operations. We obtained such an undertaking on November 10, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Payments of dividends and capital in respect
of our Class&nbsp;A common shares will not be subject to taxation in the Cayman Islands and no withholding will be required on the payment
of a dividend or capital to any holder of our Class&nbsp;A common shares, nor will gains derived from the disposal of our Class&nbsp;A
common shares be subject to Cayman Islands income or corporation tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">There is no income tax treaty or convention
currently in effect between the United States and the Cayman Islands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Certain United States Federal Income Tax Considerations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The following discussion describes certain U.S.
federal income tax consequences of the purchase, ownership and disposition of our Class A common shares. This discussion deals only with
Class A common shares that are held as capital assets by a U.S. Holder (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">As used herein, the term &#8220;U.S. Holder&#8221;
means a beneficial owner of our Class A common shares that is, for U.S. federal income tax purposes, any of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&#9679;&#9;an individual who is a citizen or
resident of the United States;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&#9679;&#9;a corporation (or other entity treated
as a corporation for U.S. federal income tax purposes) created or organized in or under the laws of the United States, any state thereof
or the District of Columbia;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&#9679;&#9;an estate the income of which is
subject to U.S. federal income taxation regardless of its source; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&#9679;&#9;a trust if it (1) is subject to the
primary supervision of a court within the United States and one or more United States persons have the authority to control all substantial
decisions of the trust or (2) has a valid election in effect under applicable United States Treasury regulations to be treated as a United
States person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">This discussion is based upon provisions of
the Internal Revenue Code of 1986, as amended, or the Code, and regulations, rulings and judicial decisions thereunder as of the date
hereof. Those authorities may be changed, perhaps retroactively, so as to result in U.S. federal income tax consequences different from
those summarized below.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">This discussion does not represent a detailed
description of the U.S. federal income tax consequences applicable to an investor if such investor is subject to special treatment under
the U.S. federal income tax laws, including if such investor is:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&#9679;&#9;a dealer or broker in securities
or currencies;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&#9679;&#9;a financial institution;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&#9679;&#9;a regulated investment company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&#9679;&#9;a real estate investment trust;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&#9679;&#9;an insurance company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&#9679;&#9;a tax-exempt organization;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&#9679;&#9;a person holding our Class A common
shares as part of a hedging, integrated or conversion transaction, a constructive sale or a straddle;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&#9679;&#9;a trader in securities that has elected
the mark-to-market method of accounting for its securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&#9679;&#9;a person liable for alternative minimum
tax;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&#9679;&#9;a person who owns or is deemed to
own 10% or more of all of our outstanding shares of stock (by vote or value);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&#9679;&#9;a partnership or other pass-through
entity for U.S. federal income tax purposes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&#9679;&#9;a person required to accelerate the
recognition of any item of gross income with respect to our Class A common shares as a result of such income being recognized on an applicable
financial statement; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&#9679;&#9;a person whose &#8220;functional
currency&#8221; for U.S. federal income tax purposes is not the U.S. dollar.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">If a partnership (or other entity treated as
a partnership for U.S. federal income tax purposes) holds our Class A common shares, the tax treatment of a partner will generally depend
upon the status of the partner and the activities of the partnership. If an investor is a partnership or partner of a partnership holding
our Class A common shares, such investor should consult its tax advisors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">This summary does not contain a detailed description
of all the U.S. federal income tax consequences to investors in light of such investors&#8217; particular circumstances and does not address
the Medicare tax on net investment income or the effects of any state, local or non-U.S. tax laws. If an investor is considering the purchase
of our Class A common shares, the investor should consult its own tax advisors concerning the particular U.S. federal income tax consequences
to it of the purchase, ownership and disposition of our Class A common shares, as well as the consequences to it arising under other U.S.
federal tax laws (such as estate and gift tax laws) and the laws of any other taxing jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Except as specifically noted below under &#8220;&#8212;Passive
Foreign Investment Company,&#8221; the following discussion assumes we are not, and will not be, a passive foreign investment company
(&#8220;PFIC&#8221;) for U.S. federal income tax purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Taxation of Dividends</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The gross amount of distributions on our Class
A common shares will be taxable as dividends to the extent paid out of our current or accumulated earnings and profits, as determined
under U.S. federal income tax principles. To the extent that the amount of any distribution exceeds our current and accumulated earnings
and profits for a taxable year, the distribution will first be treated as a tax-free return of capital, causing a reduction in the tax
basis of the Class A common shares, and to the extent the amount of the distribution exceeds an investor&#8217;s tax basis, the excess
will be taxed as capital gain recognized on a sale or exchange (as discussed below under &#8220;&#8212;Taxation of Sales or Exchanges&#8221;).
We do not, however, expect to determine earnings and profits in accordance with U.S. federal income tax principles. Therefore, investors
should expect that a distribution will generally be treated as a dividend for U.S. federal income tax purposes.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Any dividends that an investor receives (including
any withheld taxes) will be includable in such investor&#8217;s gross income as ordinary income on the day actually or constructively
received by such investor. Such dividends will not be eligible for the dividends received deduction generally allowed to corporations
under the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Subject to applicable limitations (including
a minimum holding period requirement), dividends received by non-corporate U.S. investors from a qualified foreign corporation may be
treated as &#8220;qualified dividend income&#8221; that is subject to reduced rates of taxation. A foreign corporation is generally treated
as a qualified foreign corporation with respect to dividends paid by that corporation on shares that are readily tradable on an established
securities market in the United States. United States Treasury Department guidance indicates that our Class A common shares, which are
listed on the Nasdaq, are readily tradable on an established securities market in the United States. There can be no assurance, however,
that our Class A common shares will be considered readily tradable on an established securities market in the United States in later years.
In addition, notwithstanding the foregoing, non-corporate U.S. Holders will not be eligible for reduced rates of taxation on any dividends
received from us if we are a PFIC (as discussed below under &#8220;&#8212;Passive Foreign Investment Company&#8221;) in the taxable year
in which such dividends are paid or in the preceding taxable year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The amount of any dividend paid to an investor
in a currency other than U.S. dollars will equal the U.S. dollar value of the foreign currency received calculated by reference to the
exchange rate in effect on the date the dividend is actually or constructively received by the investor, regardless of whether the foreign
currency is converted into U.S. dollars. If the foreign currency received as a dividend is converted into U.S. dollars on the date of
receipt, the investor generally will not be required to recognize foreign currency gain or loss in respect of the dividend income. If
the foreign currency received as a dividend is not converted into U.S. dollars on the date of receipt, the investor will have a basis
in the foreign currency equal to its U.S. dollar value on the date of receipt. Any gain or loss realized on a subsequent conversion or
other disposition of the foreign currency will be treated as U.S. source ordinary income or loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">For purposes of calculating the foreign tax
credit, dividends paid on our Class A common shares will be treated as income from sources outside the United States and will generally
constitute passive category income. The rules governing the foreign tax credit are complex. Investors are urged to consult their tax advisors
regarding the availability of the foreign tax credit under their particular circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Distributions of Class A common shares, or rights
to subscribe for Class A common shares, that are received as part of a pro rata distribution to all of our shareholders generally will
not be subject to U.S. federal income tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Taxation of Sales or Exchanges</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">For U.S. federal income tax purposes, an investor
will recognize taxable gain or loss on any sale, exchange or other taxable disposition of Class A common shares in an amount equal to
the difference between the amount realized for the Class A common shares and such investor&#8217;s tax basis in the Class A common shares,
both determined in U.S. dollars. Such gain or loss will generally be capital gain or loss and will generally be long-term capital gain
or loss if an investor has held the Class A common shares for more than one year. Long-term capital gains of non-corporate U.S. Holders
are eligible for reduced rates of taxation. The deductibility of capital losses is subject to limitations. Any gain or loss recognized
by an investor will generally be treated as U.S. source gain or loss.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Passive Foreign Investment Company</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In general, we will be a PFIC for U.S. federal
income tax purposes for any taxable year in which, after applying certain look-through rules, (i) 75% or more of our gross income is passive
income, or (ii) at least 50% of the value (generally determined based on a quarterly average) of our assets is attributable to assets
that produce, or are held for the production of, passive income. For this purpose, passive income generally includes dividends, interest,
royalties and rents (other than royalties and rents derived in the active conduct of a trade or business and not derived from a related
person).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Based on the past and projected composition
of our income and assets and the valuation of our assets, we do not believe we were a PFIC for our most recent taxable year, and we do
not expect to become a PFIC in the current taxable year or the foreseeable future, although there can be no assurance in this regard.
The determination of whether we are a PFIC is made annually. Accordingly, it is possible that we may become a PFIC in the current or any
future taxable year due to changes in our asset or income composition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">If we are a PFIC for any taxable year during
which an investor holds our Class A common shares, such investor could be subject to additional U.S. federal income taxes on gain recognized
with respect to our Class A common shares and on certain distributions, plus an interest charge on certain taxes treated as having been
deferred under the PFIC rules. Although the determination of whether we are a PFIC is made annually, if we are a PFIC for any taxable
year in which an investor holds our Class A common shares, we would generally continue to be treated as a PFIC with respect to such investor
for all subsequent years during which such investor holds the Class A common shares (even if we do not qualify as a PFIC in such subsequent
years). However, if we cease to be a PFIC, an investor can avoid the continuing impact of the PFIC rules by making a special election
to recognize gain as if such investor&#8217;s Class A common shares had been sold on the last day of the last taxable year during which
we were a PFIC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Investors will generally be required to file
IRS Form 8621 if they hold our Class A common shares in any year in which we are classified as a PFIC. Investors are urged to consult
their tax advisors concerning the U.S. federal income tax consequences of holding Class A common shares if we are considered a PFIC in
any taxable year, including the potential availability and effect of any elections which would provide for alternative treatment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Information Reporting and Backup Withholding</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In general, information reporting will apply
to dividends in respect of our Class A common shares and the proceeds from the sale, exchange or other disposition of Class A common shares
that are paid to investors within the United States (and in certain cases, outside the United States), unless an investor establishes
that it is an exempt recipient. Backup withholding may apply to such payments if an investor fails to provide a taxpayer identification
number and a certification that it is not subject to backup withholding, or an such investor fails to report in full dividend and interest
income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Backup withholding is not an additional tax.
Any amounts withheld under the backup withholding rules will be allowed as a refund or a credit against an investor&#8217;s U.S. federal
income tax liability provided the required information is timely furnished to the IRS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Certain U.S. Holders are required to report
information relating to our Class A common shares, subject to certain exceptions (including an exception for Class A common shares held
in accounts maintained by certain financial institutions), by attaching a complete IRS Form 8938, Statement of Specified Foreign Financial
Assets, with their tax return for each year in which they hold the Class A common shares. Investors are urged to consult their own tax
advisors regarding information reporting requirements relating to their ownership of the Class A common shares.</P>


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="b_012"></A>EXPENSES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The following are the estimated expenses of
the issuance and distribution of the securities offered by this prospectus supplement (other than commissions and reimbursements payable
to AGP under the terms of the sales agreement), all of which will be paid by us.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 81%; padding-right: 5.75pt; padding-left: 5.75pt"><FONT STYLE="font-size: 11pt">SEC registration fee&#9;</FONT></TD>
    <TD STYLE="width: 19%; padding-right: 5.75pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-size: 11pt">US$&#9;14,760<SUP>(1)</SUP></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt"><FONT STYLE="font-size: 11pt">FINRA fee&#9;</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-size: 11pt">15,500</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt"><FONT STYLE="font-size: 11pt">Legal fees and expenses&#9;</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-size: 11pt">445,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt"><FONT STYLE="font-size: 11pt">Accounting fees and expenses&#9;</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-size: 11pt">971,954</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt"><FONT STYLE="font-size: 11pt">Printing expenses&#9;</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-size: 11pt">55,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt"><FONT STYLE="font-size: 11pt">Miscellaneous expenses&#9;</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-size: 11pt">50,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt"><FONT STYLE="font-size: 11pt"><B>Total</B>&#9;</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>US$&#9;1,552,214</B></FONT></TD></TR>
  </TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>The SEC Registration Fee of US$14,760, covering all of the securities being offered under the registration statement on Form F-3 (File
No. 333-280284) filed with the Commission with an effective date of June 24, 2024, of which this prospectus supplement forms a part, was
previously paid.<FONT STYLE="color: red"><BR STYLE="clear: both">
</FONT></TD></TR></TABLE>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="b_013"></A>LEGAL MATTERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The validity of our Class A common shares and
certain matters governed by Cayman Islands law will be passed on for us by Maples and Calder (Cayman) LLP. Certain other matters of United
States federal securities and New York State law will be passed on for us by Simpson Thacher &amp; Bartlett LLP. Certain legal matters
in connection with this offering will be passed on for the sales agent by Duane Morris LLP.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: red"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="b_014"></A>EXPERTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The consolidated financial statements of Zenvia
Inc. at December 31, 2023 and for the year then ended appearing in Zenvia Inc.&#8217;s annual report on Form 20-F for the year ended December
31, 2023 have been audited by Ernst &amp; Young Auditores Independentes S.S. Ltda., an independent registered public accounting firm,
as set forth in their report thereon, included therein, and incorporated herein by reference. Such consolidated financial statements are
incorporated herein by reference in reliance upon such report given on the authority of such firm as experts in accounting and auditing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The consolidated financial statements of Zenvia
Inc. as of December 31, 2022, and for each of the years in the two-year period ended December 31, 2022, have been incorporated by reference
herein in reliance upon the report of KPMG Auditores Independentes Ltda., independent registered public accounting firm, incorporated
by reference herein, and upon the authority of said firm as experts in accounting and auditing.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="b_015"></A>WHERE YOU CAN
FIND MORE INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We have filed a registration statement with
the SEC on Form F-3 under the Securities Act relating to the securities offered by this prospectus supplement. This prospectus supplement,
which is a part of that registration statement, does not contain all of the information set forth in the registration statement. For more
information with respect to us and the securities offered by this prospectus supplement, you should refer to the registration statement
and to the exhibits filed with it. Statements contained or incorporated by reference in this prospectus supplement regarding the contents
of any contract or other document are not necessarily complete, and, where the contract or other document is an exhibit to the registration
statement or incorporated or deemed to be incorporated by reference, each of these statements is qualified in all respects by the provisions
of the actual contract or other document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We are subject to the information requirements
of the Exchange Act, applicable to a foreign private issuer, and accordingly file or furnish reports, including annual reports on Form
20-F, reports on Form 6-K and other information with the SEC. The SEC maintains a website that contains reports and information statements
and other information about issuers, such as us, who file electronically with the SEC. The address of that website is www.sec.gov.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We also maintain a website at https://investors.zenvia.com/
through which you can access our SEC filings. The information contained on, or that can be accessed through, our website is not a part
of this prospectus supplement and the accompanying prospectus.<BR STYLE="clear: both">
</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="b_016"></A>INCORPORATION
OF CERTAIN DOCUMENTS BY REFERENCE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The SEC allows us to &#8220;incorporate by reference&#8221;
information that we file with them. Incorporation by reference allows us to disclose important information to you by referring you to
those other documents. The information incorporated by reference is an important part of this prospectus supplement and the accompanying
prospectus, and information that we file later with the SEC will automatically update and supersede the information included in this prospectus
supplement and the accompanying prospectus or previously incorporated by reference into this prospectus supplement and the accompanying
prospectus. We filed a registration statement on Form F-3 under the Securities Act, with the SEC with respect to the securities we may
offer pursuant to this prospectus supplement and the accompanying prospectus. This prospectus supplement omits certain information contained
in the registration statement, as permitted by the SEC. You should refer to the registration statement, including the exhibits, for further
information about us and the securities we may offer pursuant to this prospectus supplement and the accompanying prospectus. Statements
in this prospectus supplement regarding the provisions of certain documents filed with, or incorporated by reference in, the registration
statement are not necessarily complete and each statement is qualified in all respects by that reference. Copies of all or any part of
the registration statement, including the documents incorporated by reference or the exhibits, may be obtained upon payment of the prescribed
rates at the offices of the SEC listed above in &#8220;Where You Can Find More Information.&#8221; We incorporate by reference the following
documents and any future filings and/or submissions that we make with the SEC under Sections 13(a), 13(c) and 15(d) of the Securities
Exchange Act of 1934, as amended, until we complete the offerings using this prospectus supplement and the accompanying prospectus:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Our annual report on Form 20-F for the fiscal year ended December 31, 2023, filed with the SEC on May 15, 2024;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Our current reports on Form 6-K furnished to the SEC on July 15, 2024 (Acc-Nos.: 0001292814-24-002739, 0001292814-24-002751 and 0001292814-24-002753)
relating to our unaudited interim condensed consolidated financial statement as of March 31, 2024 and for the three months ended March
31, 2024 and 2023, our management&rsquo;s discussion and analysis of financial condition
and results of operations for the three months ended March 31, 2024 compared to the three months ended March 31, 2023 and the sales agreement;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The description of our Class A common shares contained in our registration statement on Form 8-A filed with the SEC on July 19, 2021,
including any amendments or reports filed for the purpose of updating such description;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>All subsequent annual reports on Form 20-F that we file with the SEC; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Certain reports on Form 6-K that we furnish to the SEC after the date of this prospectus supplement (if they state that they are incorporated
by reference into the registration statement of which this prospectus supplement forms a part) prior to the termination of this offering.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In all cases, you should rely on the later information
over different information included in this prospectus supplement and the accompanying prospectus or any accompanying prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Unless expressly incorporated by reference,
nothing in this prospectus supplement and the accompanying prospectus shall be deemed to incorporate by reference information furnished
to, but not filed with, the SEC. Copies of all documents incorporated by reference in this prospectus supplement and the accompanying
prospectus, other than exhibits to those documents unless such exhibits are specifically incorporated by reference in this prospectus
supplement and the accompanying prospectus, will be provided at no cost to each person, including any beneficial owner, who receives a
copy of this prospectus supplement and the accompanying prospectus on the written or oral request of that person made to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Avenida Paulista, 2300, 18th Floor<BR>
S&atilde;o Paulo, S&atilde;o Paulo, CEP 01310-300</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">Brazil<BR>
+55 (11) 99904-5082<BR>
</P>





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<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 0 12pt; text-indent: 0.5in">You may also access these documents on our website
at https://investors.zenvia.com/. The information contained on, or that can be accessed through, our website is not a part of this prospectus
supplement and the accompanying prospectus. We have included our website address in this prospectus supplement and the accompanying prospectus
solely as an inactive textual reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in">You should rely only on information contained
in, or incorporated by reference into, this prospectus supplement and the accompanying prospectus. Neither we nor the sales agent have
authorized anyone to provide you with information different from that contained in this prospectus supplement and the accompanying prospectus
or incorporated by reference in this prospectus supplement and the accompanying prospectus. We are not making offers to sell the securities
in any jurisdiction in which such an offer or solicitation is not authorized or in which the person making such offer or solicitation
is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0in"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; color: red"></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><IMG SRC="zenv20240715424b5_003.jpg" ALT="[MISSING IMAGE: lg_zenvianew-bw.jpg]" STYLE="height: 43px; width: 195px"></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Zenvia Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-weight: normal"><I>(incorporated
in the Cayman Islands)</I></FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">US$100,000,000</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Class A Common Shares</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Debt Securities</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Warrants</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Rights</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Units</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">This prospectus will allow us to issue, from
time to time at prices and on terms to be determined at or prior to the time of the offering, up to US$100,000,000 of any combination
of the securities described in this prospectus, either individually or in units. We may also offer Class A common shares upon conversion
of or exchange for debt securities or upon the exercise of warrants or rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">This prospectus describes the general terms
of these securities and the general manner in which these securities will be offered. We will provide you with the specific terms of any
offering in one or more supplements to this prospectus. The prospectus supplements will also describe the specific manner in which these
securities will be offered and may also supplement, update or amend information contained in this document. You should read this prospectus
and any prospectus supplement, as well as any documents incorporated by reference into this prospectus or any prospectus supplement, carefully
before you invest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We may offer and sell the securities from time
to time at fixed prices, at market prices or at negotiated prices to or through agents designated from time to time or to or through underwriters
or dealers or through a combination of these methods. For additional information on the methods of sale, you should refer to the section
titled &#8220;Plan of Distribution&#8221; in this prospectus and in the applicable prospectus supplement. If any underwriters or agents
are involved in the sale of our securities with respect to which this prospectus is being delivered, the names of such underwriters or
agents and any applicable fees, commissions or discounts and over-allotment options will be set forth in a prospectus supplement. The
price to the public of such securities and the net proceeds that we expect to receive from such sale will also be set forth in a prospectus
supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Our Class A common shares are listed on the
Nasdaq Capital Market, or the Nasdaq, under the symbol &#8220;ZENV.&#8221; On June 14, 2024, the last reported sale price of our Class
A common shares on the Nasdaq Capital Market was US$2.74 per share. The applicable prospectus supplement will contain information, where
applicable, as to any other listing, if any, on the Nasdaq Capital Market or any securities market or other securities exchange of the
securities covered by the prospectus supplement. Prospective purchasers of our securities are urged to obtain current information as to
the market prices of our securities, where applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">As of the date of this prospectus, the aggregate
market value of our outstanding common shares held by non-affiliates, was determined to be US$66,605,077 based on 27,080,080 Class A
common shares and 23,664,925 Class B common shares outstanding, of which 17,300,020 Class A common shares are held by non-affiliates,
and the closing sale price of our Class A common shares on the Nasdaq of US$3.85 on May 20, 2024, which is within 60 days of the date
of this prospectus. Pursuant to General Instruction I.B.5. of Form F-3, in no event will we sell the securities covered hereby in a public
primary offering with a value exceeding more than one-third of the aggregate market value of our Class A common shares held by non-affiliates
in any 12-month period so long as the aggregate market value of our outstanding common shares held by non-affiliates remains below US$75,000,000.
As of the date hereof, we have not offered any securities pursuant to General Instruction I.B.5 of Form F-3 during the twelve calendar
month period that ends on and includes the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>Investing in our securities involves a high
degree of risk. Before deciding whether to invest in our securities, you should consider carefully the risks that we have described on
page 7 of this prospectus under the caption </B>&#8220;<B>Risk Factors.</B>&#8221; <B>We may also include specific risk factors in supplements
to this prospectus under the caption </B>&#8220;<B>Risk Factors.</B>&#8221; <B>This prospectus may not be used to sell our securities
unless accompanied by a prospectus supplement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>Neither the U.S. Securities and Exchange
Commission, or the SEC, nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy
or accuracy of this prospectus. Any representation to the contrary is a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">The date of this prospectus is , 2024.</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="toc"></A>Table of Contents</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Page</P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="width: 90%; text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_001">ABOUT THIS PROSPECTUS</A></TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 0pt">1</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_002">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">2</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_003">PROSPECTUS SUMMARY</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">4</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_004">RISK FACTORS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">7</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_005">CAPITALIZATION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">8</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_006">USE OF PROCEEDS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">9</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_007">PLAN OF DISTRIBUTION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">10</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_008">DESCRIPTION OF SHARE CAPITAL</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">12</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_009">DESCRIPTION OF DEBT SECURITIES</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">30</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_010">DESCRIPTION OF WARRANTS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">33</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_011">DESCRIPTION OF RIGHTS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">34</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_012">DESCRIPTION OF UNITS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">35</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_013">TAXATION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">36</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_014">EXPENSES</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">37</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_015">MATERIAL CHANGES</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">38</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_016">LEGAL MATTERS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">39</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_017">EXPERTS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">40</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_018">ENFORCEMENT OF JUDGMENTS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">41</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_019">WHERE YOU CAN FIND MORE INFORMATION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">43</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.1in"><A HREF="#a_020">INCORPORATION OF DOCUMENTS BY REFERENCE</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">44</TD></TR>
</TABLE>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_001"></A>ABOUT THIS PROSPECTUS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">This prospectus is part of a registration statement
that we filed with the SEC utilizing a &#8220;shelf&#8221; registration process. Under this shelf registration process, we may offer our
Class A common shares, various series of debt securities or warrants, and rights to purchase any of such securities, either individually
or in units, in one or more offerings, with a total value of up to US$100,000,000. This prospectus provides you with a general description
of the securities we may offer. Each time we offer a type or series of securities under this prospectus, we will provide a prospectus
supplement that will contain specific information about the terms of that offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">This prospectus does not contain all of the
information included in the registration statement. For a more complete understanding of the offering of the securities, you should refer
to the registration statement, including its exhibits. The prospectus supplement may also add, update or change information contained
or incorporated by reference in this prospectus. However, no prospectus supplement will offer a security that is not registered and described
in this prospectus at the time of its effectiveness. This prospectus, together with the applicable prospectus supplements and the documents
incorporated by reference into this prospectus, includes all material information relating to the offering of securities under this prospectus.
You should carefully read this prospectus, the applicable prospectus supplement, the information and documents incorporated herein by
reference and the additional information under the captions &#8220;Where You Can Find More Information&#8221; and &#8220;Incorporation
of Documents by Reference&#8221; before making an investment decision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">You should rely only on the information we have
provided or incorporated by reference in this prospectus or any prospectus supplement. We have not authorized anyone to provide you with
information different from that contained or incorporated by reference in this prospectus. No dealer, salesperson or other person is authorized
to give any information or to represent anything not contained or incorporated by reference in this prospectus. You must not rely on any
unauthorized information or representation. If you are in a jurisdiction where offers to sell, or solicitations of offers to purchase,
the securities offered by this document are unlawful, or if you are a person to whom it is unlawful to direct these types of activities,
then the offer presented in this document does not extend to you. You should assume that the information in this prospectus or any prospectus
supplement is accurate only as of the date on the front of the document and that any information we have incorporated herein by reference
is accurate only as of the date of the document incorporated by reference, regardless of the time of delivery of this prospectus or any
sale of a security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We further note that the representations, warranties
and covenants made by us in any agreement that is filed as an exhibit to any document that is incorporated by reference in this prospectus
were made solely for the benefit of the parties to such agreement, including, in some cases, for the purpose of allocating risk among
the parties to such agreements, and should not be deemed to be a representation, warranty or covenant to you. Moreover, such representations,
warranties or covenants were accurate only as of the date when made. Accordingly, such representations, warranties and covenants should
not be relied on as accurately representing the current state of our affairs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Wherever references are made in this prospectus
to information that will be included in a prospectus supplement, to the extent permitted by applicable law, rules or regulations, we may
instead include such information or add, update or change the information contained in this prospectus by means of a post-effective amendment
to the registration statement of which this prospectus is a part, through filings we make with the SEC that are incorporated by reference
in this prospectus or by any other method as may then be permitted under applicable law, rules or regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">This prospectus may not be used to consummate
sales of our securities unless it is accompanied by a prospectus supplement. To the extent there are inconsistencies between any prospectus
supplement, this prospectus and any documents incorporated by reference, the document with the most recent date will control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Unless otherwise indicated or the context otherwise
requires, in this prospectus, &#8220;Zenvia,&#8221; the &#8220;Company,&#8221; the &#8220;Issuer,&#8221; &#8220;we,&#8221; &#8220;us,&#8221;
&#8220;our&#8221; or similar terms refer to Zenvia Inc. and its consolidated subsidiaries, except where the context otherwise requires.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_002"></A>SPECIAL NOTE
REGARDING FORWARD-LOOKING STATEMENTS</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">The statements contained in this prospectus
and the documents incorporated by reference herein include forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act,
that relate to future events and, as such, are subject to risks, uncertainties and other factors that may cause our actual results, levels
of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements
expressed or implied by these forward-looking statements. Words such as, but not limited to, &#8220;aim,&#8221; &#8220;anticipate,&#8221;
&#8220;believe,&#8221; &#8220;can,&#8221; &#8220;confident,&#8221; &#8220;continue,&#8221; &#8220;could,&#8221; &#8220;estimate,&#8221;
&#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;likely,&#8221; &#8220;may,&#8221; &#8220;might,&#8221; &#8220;plan,&#8221; &#8220;potential,&#8221;
&#8220;predict,&#8221; &#8220;probable,&#8221; &#8220;project,&#8221; &#8220;seek,&#8221; &#8220;should,&#8221; &#8220;target,&#8221;
&#8220;will,&#8221; &#8220;would&#8221; and similar expressions or phrases or the opposite of those terms, expressions or phrases, are
intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0; text-indent: 0.5in"><FONT STYLE="background-color: white"><B>Readers
are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made.
There is no assurance that the expected events, trends or results will actually occur and we undertake no obligation to update publicly
or revise any forward-looking statements and estimates whether as a result of new information, future events or otherwise.</B></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">Forward-looking statements include, but
are not limited to, statements regarding our current belief or expectations as of the date any such statements were made and estimates
on future events and trends that affect or may affect our business, financial condition, results of operations, liquidity, prospects and
the trading price of our Class A common shares. Although we believe that we have a reasonable basis for each forward-looking statement
contained in this prospectus and incorporated by reference herein, we caution you that these statements are based on assumptions and information
currently available to us, which are subject to risks and uncertainties and other factors that may cause our actual results, level of
activity, performance or achievements expressed or implied by these forward-looking statements, to differ.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">The sections in our periodic reports, including
our annual report on Form 20-F for the fiscal year ended December 31, 2023, titled &#8220;Information on the Company,&#8221; &#8220;Risk
Factors,&#8221; and &#8220;Operating and Financial Review and Prospects,&#8221; as well as other sections in this prospectus and the documents
or reports incorporated by reference herein, discuss some of the factors that could contribute to these differences.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">These forward-looking statements include,
among other things, statements about:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to increase cash generation and/or obtain funding through issuance of new equity or debt to comply with short and long
term liabilities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to achieve or maintain profitability;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to face challenges in the expansion of our operations into new market segments and/or new geographic regions within and
outside of Brazil;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to successfully develop, acquire and integrate new businesses as customers in new industry verticals and appropriately
manage our international expansion;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our failure to enhance our brand recognition or maintain a positive public image;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our failure to implement adequate internal controls, including in the acquired companies;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the inherent risks related to the SaaS and CPaaS market, such as the interruption, failure or breach of our computer or information
technology systems, resulting in the degradation of the quality or a decline in the use of the products and services we offer;</TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>general macro- and micro-economic, political and business conditions in Brazil and other countries where we operate and the impact
on our business, notably with respect to inflation and interest rates and their impact on the discretionary spending of businesses, as
well as the impact of these conditions into our growth expectations and overall performance of our operations;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the impact of substantial and increasing competition in our market, innovation by our competitors, and our ability to compete effectively;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our compliance with applicable regulatory and legislative developments and regulations and legislation that currently apply or become
applicable to our business as we continue to grow;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to attract and retain qualified personnel while controlling our personnel related expenses, as well as the lack of a qualified
labor force (particularly developers);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the dependence of our business on our relationship with service providers as well with certain cloud infrastructure providers, and
volatility of the costs related therewith;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to maintain, protect and enhance our brand and intellectual property;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to maintain our classification as an emerging growth company under the JOBS Act;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>other factors that may affect our financial condition, liquidity and results of operations; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>other risk factors discussed under the section titled &#8220;Risk Factors&#8221; in our most recent annual report on Form 20-F for
the fiscal year ended December 31, 2023, as revised or supplemented by our subsequent periodic reports filed under the Exchange Act, as
well as any amendments thereto, as filed with the SEC and which are incorporated by reference.</TD></TR></TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">Given such limitations, you should not
place undue reliance on or make any investment decision on the basis of the forward-looking statements contained herein. You are cautioned
that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual
results may differ materially from those in the forward-looking statements. In light of the risks, uncertainties and assumptions associated
with forward-looking statements, you should not place undue reliance on any forward-looking statements. Additional risks that we may currently
deem immaterial or that are not presently known to us could also cause the forward-looking events discussed in this prospectus not to
occur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The forward-looking statements contained in
this document speak only as of the date they are made. We do not undertake any obligation or intend to update any of the forward-looking
statements after the date of this prospectus to conform these statements in light of new information or future developments to actual
results or changes in our expectations, except as required by law.</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_003"></A>PROSPECTUS SUMMARY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><I>The following is a summary of some of the
information related to our business and the offering of our securities under this prospectus that appear later in this prospectus or in
documents incorporated by reference herein. We urge you to read this entire prospectus, including the more detailed audited consolidated
financial statements as of December 31, 2023 and 2022 and for each of the three years in the period ended December 31, 2023, or the consolidated
financial statements, notes to the consolidated financial statements and other information incorporated by reference herein from our other
filings with the SEC or included in any applicable prospectus supplement. Investing in our securities involves risks. Therefore, carefully
consider the risk factors set forth in any prospectus supplements and in our most recent filings with the SEC incorporated by reference
herein, including our annual report on Form 20-F, as well as other information in this prospectus and any prospectus supplements and any
other document incorporated by reference herein or therein, before purchasing our securities. Each of the risk factors could adversely
affect our business, operating results and financial condition, as well as adversely affect the value of an investment in our securities.</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Our Pledge</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-weight: normal"><I>We are
driven by the purpose of shaping a new world of experiences, empowering companies to create unique experiences for end-consumer through
a unified end-to-end platform.</I></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Overview</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We create differentiated customer journeys
by empowering companies to transform their existing customer experience from non-scalable, physical and impersonal interactions into highly
scalable, digital first and hyper contextualized experiences.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Businesses all over the world are shaping
new customer experiences with the power of digital communications and process automations. However, businesses seeking to implement multi-channel
communication experiences for their end-consumers are frequently faced with multiple challenges given the complexities of implementing
and integrating such processes and level of investments that they require. We provide businesses with a solution to this problem by offering
a unified end-to-end CX SaaS platform at affordable prices. Our comprehensive platform assists our customers across multiple use cases,
including marketing campaigns, customer acquisition, customer support, through tickets resolutions, and enabling companies to continuously
engage customers based on their unique background, promoting healthy and long-lasting relationships, transforming data into insights.
Also, our CPaaS products provide warnings, fraud control, as well as marketing campaigns and others.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Our CX SaaS platform allows companies to
digitally interact with their end-consumers in a personalized and highly contextualized way, with the support of artificial intelligence
along with a human touch throughout the end-consumer journey. Our unified end-to-end CX SaaS platform provides a combination of our (i)
SaaS portfolio, which includes Zenvia Attraction, Zenvia Conversion, Zenvia Service, and Zenvia Success and (ii) CPaaS solutions, such
as SMS, Voice, WhatsApp, Instagram and Webchat, all such applications being orchestrated and automated by chatbots, single customer view,
journey designer, documents composer and authentication. Moreover, our platform allows the integration with legacy systems and has native
integrations with software such as Customer Relationship Management (CRM), Enterprise Resource Planning (ERP) and others.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">From small family-owned businesses to
large corporations, our customers use our platform to attract, convert, serve and nurture their end-consumers. Businesses use our platform
to frequently and more seamlessly connect with their end-consumers while also offering new mobile application experiences. Also, the
use of our platform brings opportunities to digitalize communications that were previously sent through offline traditional methods,
such printing hardcopies of documents, generating time efficiency and a positive contribution to the environment, by helping a variety
of businesses adopt paperless communications. One of our clients, a Brazilian insurance company, reported that in 2022 it had reduced
paper use by 97 tons, by replacing traditional paper-based communication with digital communication. In addition, during the same period
with the same customer, we also contributed to the environmental initiatives by reducing plastic consumption by 7 tons and water consumption
by more than 1 million liters.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Zenvia has evolved its product portfolio
organically and through acquisitions. As a result, our platform now provides four SaaS solutions (Zenvia Attraction, Zenvia Conversion,
Zenvia Service and Zenvia Success) and Consulting designed for each phase of our customers&#8217; journey, allowing a continuous relationship
with our brand.&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The SaaS segment carries higher Gross Margin
compared to our other products and we believe which will bring the most growth in the future. Due to our strategy, our SaaS solutions
represent a significant part of our Gross Profit, which was almost nonexistent nearly three years ago.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In the year ended December 31, 2023, 41.2% of
our gross profit originated from our SaaS segment while 58.8% of our gross profit originated from our CPaaS segment.</P>



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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Additional Information</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">For additional information related to our business
and operations, please refer to the reports incorporated herein by reference, including our annual report on Form 20-F for the year ended
December 31, 2023, as described under the caption &#8220;Incorporation of Documents by Reference.&#8221;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Our Corporate Information</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Zenvia Inc. was incorporated on November
3, 2020, as a Cayman Islands exempted company with limited liability duly registered with the Cayman Islands Registrar of Companies. We
are subject to applicable laws of the Cayman Islands including the Companies Act (as amended) of the Cayman Islands and the common law
of the Cayman Islands.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Our principal executive office is located
at Avenida Paulista, 2300, 18th Floor, S&atilde;o Paulo, S&atilde;o Paulo, CEP 01310-300, Brazil. Our registered office is located at
Maples Corporate Services Limited, P.O. Box 309, Ugland House, Grand Cayman KYI-1104, Cayman Islands. Our investor relations website is
https://investors.zenvia.com. The information contained on, or that can be accessed through, our website is not a part of this prospectus.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Foreign Private Issuer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We are a &#8220;foreign private issuer&#8221;
as defined under the Exchange Act. As a foreign private issuer under the Exchange Act, we are exempt from certain rules under the Exchange
Act, including the proxy rules, which impose certain disclosure and procedural requirements for proxy solicitations. Moreover, we are
not required to file periodic reports and financial statements with the SEC as frequently or as promptly as domestic U.S. companies with
securities registered under the Exchange Act, and we are not required to comply with Regulation FD, which imposes certain restrictions
on the selective disclosure of material information. In addition, our officers, directors, and principal shareholders are exempt from
the reporting and &#8220;short-swing&#8221; profit recovery provisions of Section 16 of the Exchange Act. They are, however, subject to
the obligations to report changes in share ownership under Section 13 of the Exchange Act and related SEC rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In addition, as Zenvia Inc. is a publicly-held
company listed on the Nasdaq Capital Market since July 2021, we are subject to the Nasdaq corporate governance requirements. However,
the Nasdaq listing standards provide that foreign private issuers, like us, are permitted to follow home country corporate governance
practices in lieu of the Nasdaq rules, with certain exceptions. In accordance with this exception, we follow Cayman Islands corporate
governance practices in lieu of certain of the Nasdaq corporate governance standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>Emerging Growth Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We are an &#8220;emerging growth company,&#8221; as
defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. We will
remain an emerging growth company until the earlier of (1) the last day of the fiscal year (a) following the fifth anniversary of the
completion of our initial public offering, (b) in which we have total annual revenues of at least US$1.235 billion, or (c) in which we
are deemed to be a large accelerated filer, which means the market value of our shares that is held by non-affiliates exceeds US$700.0
million, as of the prior June 30, and (2) the date on which we have issued more than US$1.00 billion in non-convertible debt during the
prior three-year period. As an emerging growth company, we are eligible to take advantage of certain exemptions from various reporting
requirements that are applicable to other public companies in the United States that are not emerging growth companies including, but
not limited to, exemptions from the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, or the Sarbanes-Oxley
Act, and any Public Company Accounting Oversight Board, or PCAOB, rules, including any future audit rule promulgated by the PCAOB (unless
the SEC determines otherwise). Accordingly, the information about us available to investors will not be the same as, and may be more
limited than, the information available to shareholders of a non-emerging growth company.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Offerings Under This Prospectus</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Under this prospectus, we may offer, through
one or more offerings, Class A common shares, various series of debt securities or warrants or rights to purchase any of such securities,
either individually or in units, with a total value of up to US$100,000,000, from time to time at prices and on terms to be determined
by market conditions at the time of the offering. This prospectus provides you with a general description of the securities we may offer.
Each time we offer a type or series of securities under this prospectus, we will provide a prospectus supplement that will describe the
specific amounts, prices and other important terms of the securities, including, to the extent applicable:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>designation or classification;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>aggregate principal amount or aggregate offering price;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>maturity, if applicable;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>rates and times of payment of interest or dividends, if any;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>redemption, conversion or sinking fund terms, if any;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>voting or other rights, if any; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>conversion or exercise prices, if any.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The prospectus supplement also may add, update
or change information contained in this prospectus or in documents we have incorporated by reference into this prospectus. However, no
prospectus supplement will fundamentally change the terms that are set forth in this prospectus or offer a security that is not registered
and described in this prospectus at the time of its effectiveness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We may sell the securities directly to you or
to or through agents, underwriters or dealers. We, and our agents or underwriters, reserve the right to accept or reject all or part of
any proposed purchase of securities. If we offer securities through agents or underwriters, we will include in the applicable prospectus
supplement:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the names of those agents or underwriters;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>applicable fees, discounts and commissions to be paid to them;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>details regarding over-allotment options, if any; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the net proceeds to us.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>This prospectus may not be used to consummate
a sale of any securities unless it is accompanied by a prospectus supplement.</B></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_004"></A>RISK FACTORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><I>Investing in our securities involves significant
risk. The prospectus supplement applicable to each offering of our securities will contain a discussion of the risks applicable to an
investment into us. Prior to making a decision about investing in our securities, you should carefully consider the specific factors discussed
under the caption &#8220;Risk Factors&#8221; in the applicable prospectus supplement, together with all of the other information contained
or incorporated by reference in the prospectus supplement or appearing or incorporated by reference in this prospectus. You should also
consider the risks, uncertainties and assumptions discussed under the caption &#8220;Risk Factors&#8221; included in our most recent annual
report on Form 20-F and any subsequent annual reports on Form 20-F we file after the date of this prospectus, and all other information
contained in or incorporated by reference into this prospectus or the registration statement of which this prospectus forms a part, as
updated by our subsequent filings under the Exchange Act, and the risk factors and other information contained in any applicable prospectus
supplement before acquiring any of our securities. Additional risks and uncertainties not presently known to us or that we currently deem
immaterial may also affect our operations. The occurrence of any of these risks might cause you to lose all or part of your investment
in the offered securities. Please see &#8220;Where You Can Find More Information&#8221; and &#8220;Incorporation of Documents by Reference&#8221;
for information on where you can find the documents we have filed with or furnished to the SEC and which are incorporated into this prospectus
by reference.</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; color: red">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_005"></A>CAPITALIZATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.25in">Our capitalization will be set forth in a prospectus
supplement to this prospectus or in a Report on Form&nbsp;6-K subsequently furnished to the SEC and specifically incorporated herein by
reference.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_006"></A>USE OF PROCEEDS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Unless otherwise indicated in the applicable
prospectus supplement, we intend to use any net proceeds from the sale of securities under this prospectus to provide additional capital
to support the development and growth of our business, increase our capitalization, prepay outstanding indebtedness, provide us with greater
financial flexibility and allocate for general corporate purposes including, but not limited to, working capital, capital expenditures,
investments, acquisitions, if any. We have not determined the amounts we plan to spend on any of the areas listed above or the timing
of these expenditures. As a result, our management will have broad discretion to allocate the net proceeds, if any, we receive in connection
with securities offered pursuant to this prospectus for any purpose. Pending application of the net proceeds as described above, we may
initially invest the net proceeds in short-term, investment-grade and interest-bearing securities.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; color: red">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_007"></A>PLAN OF DISTRIBUTION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We may sell or distribute the securities included
in this prospectus through underwriters, through agents, to dealers in private transactions, at market prices prevailing at the time of
sale, at prices related to market prices, at a fixed price or prices subject to change, at varying prices determined at the time of sale
(which may be above or below market prices prevailing at the time of sale) or at negotiated prices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In addition, we may sell some or all of our
securities included in this prospectus through:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a block trade in which a broker-dealer may resell a portion of the block, as principal, in order to facilitate the transaction;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>purchases by a broker-dealer, as principal, and resale by the broker-dealer for its account;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>ordinary brokerage transactions and transactions in which a broker solicits purchasers; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>trading plans entered into by us pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, or the Exchange Act,
that are in place at the time of an offering pursuant to this prospectus and any applicable prospectus supplement hereto that provide
for periodic sales of our securities on the basis of parameters described in such trading plans.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In addition, we may enter into options or other
types of transactions that require us to deliver our securities to a broker-dealer, who will then resell or transfer the securities under
this prospectus. We may enter into hedging transactions with respect to our securities. For example, we may:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>enter into transactions involving short sales of our Class A common shares by broker-dealers;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>sell common shares short and deliver the shares to close out short positions;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>enter into options or other types of transactions that require us to deliver common shares to a broker-dealer, who will then resell
or transfer the Class A common shares under this prospectus; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>loan or pledge the Class A common shares to a broker-dealer, who may sell the loaned shares or, in the event of default, sell the
pledged shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We may enter into derivative transactions with
third parties, or sell securities not covered by this prospectus to third parties in privately negotiated transactions. If the applicable
prospectus supplement indicates, in connection with those derivatives, the third parties may sell securities covered by this prospectus
and the applicable prospectus supplement, including in short sale transactions. If so, the third party may use securities pledged by us
or borrowed from us or others to settle those sales or to close out any related open borrowings of stock, and may use securities received
from us in settlement of those derivatives to close out any related open borrowings of stock. The third party in such sale transactions
will be an underwriter and, if not identified in this prospectus, will be identified in the applicable prospectus supplement (or a post-effective
amendment). In addition, we may otherwise loan or pledge securities to a financial institution or other third party that in turn may sell
the securities short using this prospectus. Such financial institution or other third party may transfer its economic short position to
investors in our securities or in connection with a concurrent offering of other securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Any broker-dealers or other persons acting on
our behalf that participate with us in the distribution of the securities may be deemed to be underwriters and any commissions received
or profit realized by them on the resale of the securities may be deemed to be underwriting discounts and commissions under the Securities
Act of 1933, as amended, or the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">At the time that any particular offering of
securities is made, to the extent required by the Securities Act, a prospectus supplement will be distributed, setting forth the terms
of the offering, including the aggregate number of securities being offered, the purchase price of the securities, the initial offering
price of the securities, the names of any underwriters, dealers or agents, any discounts, commissions and other items constituting compensation
from us and any discounts, commissions or concessions allowed or reallowed or paid to dealers. Furthermore, we, our executive officers,
our directors and major shareholders may agree, subject to certain exemptions, that for a certain period from the date of the prospectus
supplement under which the securities are offered, we and they will not, without the prior written consent of an underwriter, offer,
sell, contract to sell, pledge or otherwise dispose of any of our Class A common shares or any securities convertible into or exchangeable
for common shares. However, an underwriter, in its sole discretion, may release any of the securities subject to these lock-up agreements
at any time without notice.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We expect an underwriter to exclude from these
lock-up agreements securities exercised and/or sold pursuant to trading plans entered into by us pursuant to Rule 10b5-1 under the Exchange
Act, that are in place at the time of an offering pursuant to this prospectus and any applicable prospectus supplement hereto that provide
for periodic sales of our securities on the basis of parameters described in such trading plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Underwriters or agents could make sales in privately
negotiated transactions and/or any other method permitted by law, including sales deemed to be an at-the-market offering as defined in
Rule 415 promulgated under the Securities Act, which includes sales made directly on or through the Nasdaq Capital Market, the existing
trading market for our shares of common stock, or sales made to or through a market maker other than on an exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">At the time that any particular offering of
common shares is made, to the extent required by the Securities Act, a prospectus or prospectus supplement or, if appropriate, a post-effective
amendment, will be distributed, setting forth the terms of the offering, including the aggregate number of common shares being offered,
the purchase price of the Class A common shares, the public offering price of the Class A common shares, the names of any underwriters,
dealers or agents and any applicable discounts or commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In order to comply with the securities laws
of some states, if applicable, our Class A common shares may be sold in these jurisdictions only through registered or licensed brokers
or dealers. In addition, in some states our Class A common shares may not be sold unless they have been registered or qualified for sale
or an exemption from registration or qualification requirements is available and is complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Underwriters or agents could make sales in privately
negotiated transactions and/or any other method permitted by law, including sales deemed to be an at-the-market offering as defined in
Rule 415 promulgated under the Securities Act, which includes sales made directly on or through the Nasdaq Capital Market, the existing
trading market for our Class A common shares, or sales made to or through a market maker other than on an exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We will bear the costs relating to the securities
offered and sold by us under this registration statement.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Agreements that we may enter into with underwriters,
dealers or agents may entitle them to indemnification by us against certain civil liabilities. These include liabilities under the Securities
Act of 1933, as amended. The agreements may also entitle them to contribution for payments which they may be required to make as a result
of these liabilities. Underwriters, dealers or agents may be customers of, engage in transactions with, or perform services for, us in
the ordinary course of business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_008"></A>DESCRIPTION
OF SHARE CAPITAL</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">General</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-weight: normal">Zenvia Inc.
was incorporated on November 3, 2020, as a Cayman Islands exempted company with limited liability duly registered with the Cayman Islands
Registrar of Companies. Our corporate purposes are unrestricted, and we have the authority to carry out any object not prohibited by any
law as provided by Section 7(4) of Companies Act (as amended) of the Cayman Islands, or the Companies Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-weight: normal">Our affairs
are governed principally by our second amended and restated memorandum and articles of association, or articles of association, the Companies
Act (as amended) of the Cayman Islands and the common law of the Cayman Islands. As provided in our articles of association, subject to
Cayman Islands law, we have full capacity to carry on or undertake any business or activity, do any act or enter into any transaction,
and, for such purposes, full rights, powers and privileges. Our registered office is c/o Maples Corporate Services Limited, P.O. Box 309,
Ugland House, Grand Cayman, KY1 1104, Cayman Islands.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The following is a summary of the material provisions
of our authorized share capital and our articles of association. This discussion does not purport to be complete and is qualified in its
entirety by reference to our articles of association. The form of our articles of association is filed as an exhibit to this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>Share Capital</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Our articles of association authorize two classes
of common shares: Class A common shares, which are entitled to one vote per share, and Class B common shares, which are entitled to 10
votes per share and to maintain a proportional ownership interest in the event that additional Class A common shares are issued. Any holder
of Class B common shares may convert his or her shares at any time into Class A common shares on a share-for-share basis. The rights of
the two classes of common shares are otherwise identical, except as described below. See &#8220;&#8212;Anti-Takeover Provisions in Our
Articles of Association&#8212;Two Classes of Shares.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">At the date of this prospectus, our total authorized
share capital was US$50,000, divided into 1,000,000,000 shares with par value of US$0.00005 each, of which:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>500,000,000 shares are designated as Class A common shares;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>250,000,000 shares are designated as Class B common shares; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>250,000,000 which are as yet undesignated and may be issued as common shares or shares with preferred rights.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">As of the date of this prospectus, 27,080,080
Class A common shares and 23,664,925 Class B common shares of our authorized share capital were issued, fully paid and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Our Class A common shares are listed on the
Nasdaq under the symbol &#8220;ZENV.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>Treasury Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">At the date of this prospectus, we have no shares
in treasury.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>Issuance of Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Except as expressly provided in our articles
of association, our board of directors has general and unconditional authority to allot, grant options over, offer or otherwise deal
with or dispose of any unissued shares in the company&#8217;s capital without the approval of our shareholders (whether forming part
of the original or any increased share capital), either at a premium or at par, with or without preferred, deferred or other special
rights or restrictions, whether in regard to dividend, voting, return of capital or otherwise and to such persons, on such terms and
conditions, and at such times as the directors may decide, but so that no share shall be issued at a discount, except in accordance with
the provisions of the Companies Act. In accordance with its articles of association, we shall not issue bearer shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Our articles of association provide that at
any time that there are Class A common shares in issue, additional Class B common shares may only be issued pursuant to (1) a share split,
subdivision of shares or similar transaction or where a dividend or other distribution is paid by the issue of shares or rights to acquire
shares or following capitalization of profits, (2) a merger, consolidation, or other business combination, or (3) an issuance of shares,
including Class A common shares, whereby holders of the Class B common shares are entitled to purchase a number of Class B common shares
that would allow them to maintain their proportional ownership interests in us (following an offer by us to each holder of Class B common
shares to issue to such holder, upon the same economic terms and at the same price, such number of Class B common shares as would ensure
such holder may maintain a proportional ownership interest in us pursuant to our articles of association). In light of: (a) the above
provisions; (b) the fact that future transfers by holders of Class B common shares will generally result in those shares converting to
Class A common shares, subject to limited exceptions as provided in the articles of association; and (c) the ten-to-one voting ratio between
our Class B common shares and Class A common shares, means that holders of our Class B common shares will in many situations continue
to maintain control of all matters requiring shareholder approval. This concentration of ownership and voting power will limit or preclude
your ability to influence corporate matters for the foreseeable future. For more information see &#8220;&#8212;Preemptive or Similar Rights.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Our articles of association also provide that
the issuance of non-voting common shares requires the affirmative vote of a majority of the of then-outstanding Class A common shares.</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>Fiscal Year</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Our fiscal year begins on January 1 of each
year and ends on December 31 of the same year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>Voting Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The holders of the Class A common shares and
Class B common shares have identical rights, except that (1) the holder of Class B common shares is entitled to 10 votes per share, whereas
holders of Class A common shares are entitled to one vote per share, (2) Class B common shares have certain conversion rights and (3)
the holder of Class B common shares is entitled to maintain a proportional ownership interest in the event that additional Class A common
shares are issued. For more information see &#8220;&#8212;Preemptive or Similar Rights&#8221; and &#8220;&#8212;Conversion.&#8221; The
holders of Class A common shares and Class B common shares vote together as a single class on all matters (including the election of directors)
submitted to a vote of shareholders, except as provided below and as otherwise required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Our articles of association provide as follows
regarding the respective rights of holders of Class A common shares and Class B common shares:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>Class consents from the holders of Class A common shares or Class B common shares, as applicable,
shall be required for any variation to the rights attached to their respective class of shares, however, the Directors may treat any
two or more classes of shares as forming one class if they consider that all such classes would be affected in the same way by the proposal;</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>the rights conferred on holders of Class A common shares shall not be deemed to be varied
by the creation or issue of further Class B common shares and vice versa; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 58.5pt; text-indent: -22.5pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: right"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>the rights attaching to the Class A common shares and the Class B common shares shall not
be deemed to be varied by the creation or issue of shares with preferred or other rights, including, without limitation, shares with
enhanced or weighted voting rights.</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">As set forth in the articles of association,
the holders of Class A common shares and Class B common shares, respectively, do not have the right to vote separately if the number
of authorized shares of such class is increased or decreased. Rather, the number of authorized Class A common shares and Class B common
shares may be increased or decreased (but not below the number of shares of such class then outstanding) by the affirmative vote of the
holders of a majority of the voting power of the issued and outstanding Class A common shares and Class B common shares, voting together
in a general meeting.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>Preemptive or Similar Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Class A common shares and Class B common
shares are not entitled to preemptive rights upon transfer and are not subject to conversion (except as described below under &#8220;&#8212;Conversion&#8221;),
redemption or sinking fund provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Class B common shares are entitled to maintain
a proportional ownership interest in the event that additional Class A common shares are issued. As such, except for certain exceptions,
including the issuance of Class A common shares in furtherance of our initial public offering, if we issue Class A common shares, we must
first make an offer to each holder of Class B common shares to issue to such holder on the same economic terms such number of Class B
common shares as would ensure such holder may maintain a proportional ownership interest into us. This right to maintain a proportional
ownership interest may be waived by all of the holders of Class B common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>Conversion</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The outstanding Class B common shares are convertible
at any time as follows: (1) at the option of the holder, a Class B common share may be converted at any time into one Class A common share
or (2) upon the election of the holders of all of the then outstanding Class B common shares, all outstanding Class B common shares may
be converted into a like number of Class A common shares. In addition, each Class B common share will convert automatically into one Class
A common share upon any transfer, whether or not for value, except for certain transfers described in the articles of association, including
transfers to affiliates, with the restrictions set forth thereto. Furthermore, each Class B common share will convert automatically into
one Class A common share and no Class B common shares will be issued thereafter if, at any time, the voting power of outstanding Class
B common shares represents less than 10% of the aggregate voting power of the Class A common shares and Class B common shares then outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">No class of our common shares may be subdivided
or combined unless the other class of common shares is concurrently subdivided or combined in the same proportion and in the same manner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>Equal Status</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Except as expressly provided in our articles
of association, Class A common shares and Class B common shares have the same rights and privileges and rank equally, share proportionally
and are identical in all respects as to all matters. In the event of any merger, consolidation, scheme, arrangement or other business
combination requiring the approval of our shareholders entitled to vote thereon (whether or not we are the surviving entity), the holders
of Class A common shares shall have the right to receive, or the right to elect to receive, the same form of consideration as the holders
of Class B common shares, and the holders of Class A common shares shall have the right to receive, or the right to elect to receive,
at least the same amount of consideration on a per share basis as the holders of Class B common shares. In the event of any (1) tender
or exchange offer to acquire any Class A common shares or Class B common shares by any third-party pursuant to an agreement to which we
are a party, or (2) any tender or exchange offer by us to acquire any Class A common shares or Class B common shares, the holders of Class
A common shares shall have the right to receive, or the right to elect to receive, the same form of consideration as the holders of Class
B common shares, and the holders of Class A common shares shall have the right to receive, or the right to elect to receive, at least
the same amount of consideration on a per share basis as the holders of Class B common shares.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>Record Dates</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">For the purpose of determining shareholders
entitled to notice of, or to vote at any general meeting of shareholders or any adjournment thereof, or shareholders entitled to receive
dividend or other distribution payments, or in order to make a determination of shareholders for any other purpose, our board of directors
may set a record date which shall not exceed forty (40) clear days prior to the date where the determination will be made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>General Meetings of Shareholders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">As a condition of admission to a shareholders&#8217;
meeting, a shareholder must be duly registered as our shareholder at the applicable record date for that meeting and, in order to vote,
all calls or installments then payable by such shareholder to us in respect of the shares that such shareholder holds must have been paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Subject to any special rights or restrictions
as to voting then attached to any shares, at any general meeting every shareholder who is present in person or by proxy (or, in the case
of a shareholder being a corporation, by its duly authorized representative not being himself or herself a shareholder entitled to vote)
shall have one vote per Class A common share and 10 votes per Class B common share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">As a Cayman Islands exempted company, we are
not obliged by the Companies Act to call annual general meetings; however, the articles of association provide that in each year the company
will hold an annual general meeting of shareholders, at a time determined by the board of directors. The agenda for an annual general
meeting of shareholders will only include such items as have been included therein by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Also, we may, but are not required to (unless
required by the laws of the Cayman Islands), hold other extraordinary general meetings during the year. General meetings of shareholders
are generally expected to take place in S&atilde;o Paulo, Brazil, but may be held elsewhere if the directors so decide. To the extent
permitted by law, annual general meetings may also be held virtually.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Companies Act provides shareholders a limited
right to request a general meeting and does not provide shareholders with any right to put any proposal before a general meeting in default
of a company&#8217;s articles of association. However, these rights may be provided in a company&#8217;s articles of association. Our
articles of association provides that upon the requisition of one or more shareholders representing not less than one-third of the voting
rights entitled to vote at general meetings, the board will convene an extraordinary general meeting and put the resolutions so requisitioned
to a vote at such meeting. The articles of association provide no other right to put any proposals before annual general meetings or extraordinary
general meetings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Subject to regulatory requirements, the annual
general meeting and any extraordinary general meetings must be called by not less than five (5) clear days&#8217; notice prior to the
relevant shareholders meeting and convened by a notice, as discussed below. Alternatively, upon the prior consent of all holders entitled
to receive notice, with regards to the annual general meeting, and the holders of two-thirds in par value of the shares entitled to attend
and vote at an extraordinary general meeting, that meeting may be convened by a shorter notice and in a manner deemed appropriate by those
holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We will give notice of each general meeting
of shareholders by publication on its website and in any other manner that it may be required to follow in order to comply with Cayman
Islands law, Nasdaq and SEC requirements. The holders of registered shares may be given notice of a shareholders&#8217; meeting by means
of letters sent to the addresses of those shareholders as registered in our shareholders&#8217; register, or, subject to certain statutory
requirements, by electronic means.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B><I>Holders whose shares are registered in
the name of DTC or its nominee, which we expect will be the case for substantially all holders of Class A common shares, will not be a
shareholder or member of the company and must rely on the procedures of DTC regarding notice of shareholders&#8217; meetings and the exercise
of rights of a holder of the Class A common shares.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">A quorum for a general meeting consists of any
one or more persons holding or representing by proxy not less than one-third of the aggregate voting power of all shares in issue and
entitled to vote upon the business to be transacted, provided that such a quorum must also include (i) Oria Zenvia Co-investment Holdings,
LP, Oria Tech Zenvia Co-investment &#8211; Fundo de Investimento em Participa&ccedil;&otilde;es Multiestrat&eacute;gia, Oria Tech I Inova&ccedil;&atilde;o
Fundo de Investimento em Participa&ccedil;&otilde;es Multiestrat&eacute;gia and any investment fund, limited partnership or equivalent
entity managed by Oria Gest&atilde;o de Recursos Ltda. (including any successor entity), or Oria, for so long as they hold Class B common
shares, and (ii) any affiliate of Cassio Bobsin for so long as it holds Class B common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">A resolution put to a vote at a general meeting
shall be decided on a poll. An ordinary resolution to be passed by the shareholders at a general meeting requires the affirmative vote
of a simple majority of the votes cast by, or on behalf of, the shareholders entitled to vote, present in person or by proxy and voting
at the meeting. A special resolution requires the affirmative vote on a poll of no less than two-thirds of the votes cast by the shareholders
entitled to vote who are present in person or by proxy at a general meeting. Both ordinary resolutions and special resolutions may also
be passed by a unanimous written resolution signed by all the shareholders of our Company, as permitted by the Companies Act and our articles
of association.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Pursuant to our articles of association, general
meetings of shareholders are to be chaired by the chairman of our board of directors or in his absence the vice-chairman of the board
of directors. If both the chairman and vice-chairman of our board of directors are absent, the directors present at the meeting shall
appoint one of them to be chairman of the general meeting. If neither the chairman nor another director is present at the general meeting
within 15 minutes after the time appointed for holding the meeting, the shareholders present in person or by proxy and entitled to vote
may elect any one of the shareholders to be chairman. The order of business at each meeting shall be determined by the chairman of the
meeting, and he or she shall have the right and authority to prescribe such rules, regulations and procedures and to do all such acts
and things as are necessary or desirable for the proper conduct of the meeting, including, without limitation, the establishment of procedures
for the maintenance of order and safety, limitations on the time allotted to questions or comments on the affairs of the Company, restrictions
on entry to such meeting after the time prescribed for the commencement thereof, and the opening and closing of the polls. The chairman
shall not have the right to vote in his capacity as chairman and shall not have a casting vote.</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>Liquidation Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">If we are voluntarily wound up, the liquidator,
after taking into account and giving effect to the rights of preferred and secured creditors and to any agreement between us and any creditors
that the claims of such creditors shall be subordinated or otherwise deferred to the claims of any other creditors and to any contractual
rights of set-off or netting of claims between us and any person or persons (including without limitation any bilateral or any multi-lateral
set-off or netting arrangements between the company and any person or persons) and subject to any agreement between us and any person
or persons to waive or limit the same, shall apply our property in satisfaction of its liabilities pari passu and subject thereto shall
distribute the property amongst the shareholders according to their rights and interests into us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>Special Matters</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We may not without the prior written consent
of (i) Oria for so long as it holds Class B common shares and (ii) an affiliate of Cassio Bobsin for so long as it holds Class B common
shares: change the number of directors; change the structure, function, and/or number of officers; amend our articles of association;
vary the rights attaching to shares; approve any corporate restructuring, merger or consolidation of us with one or more constituent companies
(as defined in the Companies Act), the contribution by us of any assets to any subsidiary and/or the creation of any joint venture by
us; approve any business combination; approve the winding-up, liquidation or dissolution of us; or take certain actions in respect of
its share capital as set out in the articles of association; register as an exempted limited duration company; or approve the transfer
by way of our continuation to a jurisdiction outside the Cayman Islands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>Changes to Capital</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Subject to the restrictions contained in the
articles of association and summarized above in &#8220;&#8212;Special Matters,&#8221; we may from time to time by ordinary resolution:</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>increase our share capital by such sum, to be divided into shares of such amount, as the resolution shall prescribe;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>consolidate and divide all or any of our share capital into shares of a larger amount than its existing shares;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>convert all or any of our paid-up shares into stock and reconvert that stock into paid up shares of any denomination;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>subdivide our existing shares or any of them into shares of a smaller amount, provided that in the subdivision the proportion between
the amount paid and the amount, if any, unpaid on each reduced share shall be the same as it was in the case of the share from which the
reduced share is derived; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>cancel any shares which, at the date of the passing of the resolution, have not been taken or agreed to be taken by any person and
diminish the amount of our share capital by the amount of the shares so cancelled.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Our shareholders may by special resolution,
subject to confirmation by the Grand Court of the Cayman Islands on an application by the Company for an order confirming such reduction,
reduce its share capital or any capital redemption reserve in any manner permitted by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In addition, subject to the provisions of the
Companies Act and our articles of association, we may:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>issue shares on terms that they are to be redeemed or are liable to be redeemed;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>purchase its own shares (including any redeemable shares); and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>make a payment in respect of the redemption or purchase of its own shares in any manner authorized by the Companies Act, including
out of its own capital.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Transfer of Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Subject to any applicable restrictions set forth
in the articles of association, any of our shareholder may transfer all or any of his or her common shares by an instrument of transfer
in the usual or common form or in the form prescribed by the Nasdaq or any other form approved by the Company&#8217;s board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Class&nbsp;A common shares sold in our initial
public offering are traded on the Nasdaq in book-entry form and may be transferred in accordance with our articles of association and
the Nasdaq rules and regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">However, our board of directors may, in its
absolute discretion, decline to register any transfer of any common share which is either not fully paid up to a person of whom it does
not approve or is issued under any share incentive scheme for employees which contains a transfer restriction that is still applicable
to such common share. The board of directors may also decline to register any transfer of any common share unless:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the instrument of transfer is lodged with us, accompanied by the certificate (if any) for the Class A common shares to which it relates
and such other evidence as our board of directors may reasonably require to show the right of the transferor to make the transfer;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the instrument of transfer is in respect of only one class of shares;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the instrument of transfer is properly stamped, if required;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the Class A common shares transferred are free of any lien in our favor; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>in the case of a transfer to joint holders, the transfer is not to more than four joint holders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">If the directors refuse to register a transfer
they are required, within fifteen business days after the date on which the instrument of transfer was lodged, to send to the transferee
notice of such refusal.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Share Repurchase</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Companies Act and the articles of association
permit us to purchase our own shares, subject to certain restrictions. The board of directors may only exercise this power on our behalf,
subject to the Companies Act, the articles of association and to any applicable requirements imposed from time to time by the SEC, the
Nasdaq or any recognized stock exchange on which our securities are listed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Dividends and Capitalization of Profits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We have not adopted a dividend policy with respect
to payments of any future dividends by us. Subject to the Companies Act, our shareholders may, by resolution passed by a simple majority
of the voting rights entitled to vote at a general meeting, declare dividends (including interim dividends) to be paid to shareholders
but no dividend shall be declared in excess of the amount recommended by the board of directors. The board of directors may also declare
dividends. Dividends may be declared and paid out of funds lawfully available to us. Except as otherwise provided by the rights attached
to shares and our articles of association, all dividends shall be paid in proportion to the number of Class&nbsp;A common shares or Class
B common shares a shareholder holds at the date the dividend is declared (or such other date as may be set as a record date); but, (1)
if any share is issued on terms providing that it shall rank for dividend as from a particular date, that share shall rank for dividend
accordingly, and (2) where we have shares in issue which are not fully paid up (as to par value) we may pay dividends in proportion to
the amounts paid up on each share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The holders of Class&nbsp;A common shares and
Class B common shares shall be entitled to share equally in any dividends that may be declared in respect of our common shares from time
to time. In the event that there is a capitalization of profits in the form of Class&nbsp;A common shares or Class B common shares, or
rights to acquire Class&nbsp;A common shares or Class B common shares, (1)&nbsp;the holders of Class&nbsp;A common shares shall receive
Class&nbsp;A common shares, or rights to acquire Class&nbsp;A common shares, as the case may be; and (2)&nbsp;the holders of Class B common
shares shall receive Class B common shares, or rights to acquire Class B common shares, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Appointment, Disqualification and Removal of Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We are managed by our board of directors. The
articles of association provide that, unless otherwise determined by a special resolution of shareholders, the board of directors will
be composed of four (4) to nine (9) directors, with the number being determined by a majority of the directors then in office. There are
no provisions relating to retirement of directors upon reaching any age limit. The articles of association also provide that, while our
shares are admitted to trading on the Nasdaq, the board of directors must always comply with the residency and citizenship requirements
of the U.S. securities laws applicable to foreign private issuers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Oria for so long as it holds (i) at least 30%
of our combined voting power of the Class A and Class B common shares then outstanding, may appoint up to four directors at its discretion
and (ii) at least 10% of our combined voting power of the Class A and Class B common shares then outstanding, may appoint up to one director
at its discretion (and is entitled at any time to remove substitute or replace such directors).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">An affiliate of Cassio Bobsin for so long as
it holds (i) at least 30% of our combined voting power of Class A and Class B common shares then outstanding, may appoint up to three
directors at its discretion and (ii) at least 10% of our combined voting power of Class A and Class B common shares then outstanding,
may appoint up to two directors at its discretion (and is entitled at any time to remove substitute or replace such directors).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In addition, for so long as both Oria and an
affiliate of Cassio Bobsin hold Class B common shares, they may jointly appoint two additional directors and are entitled at any time
to jointly remove, substitute or replace such director. The board of directors shall have a chairman, for so long as both Oria and an
affiliate of Cassio Bobsin hold Class B common shares, which chairman will be appointed in rotation for a term of a year by each of them
as prescribed in the articles of association, such right to be exercised initially by an affiliate of Cassio Bobsin. Once neither Oria
nor an affiliate of Cassio Bobsin hold Class B common shares, the chairman will be elected by the board of directors then in office instead.
The directors may elect a vice chairman of the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Subject to the foregoing, the articles of association
provide that directors shall be elected by an ordinary resolution of our shareholders, which requires the affirmative vote of a simple
majority of the votes cast on the resolution by the shareholders entitled to vote who are present, in person or by proxy, at the meeting.
Each director shall be appointed and elected for a two-year term or until his or her death, resignation or removal, and is eligible for
re-election.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The members of our board of directors are Jorge
Steffens, Cassio Bobsin, Eduardo Aspesi, Paulo Sergio Caputo, Piero Lara Rosatelli and Ana Dolores Moura Carneiro de Novaes. Eduardo Aspesi
and Ana Dolores Moura Carneiro de Novaes are &#8220;independent&#8221; as that term is defined under the applicable rules and regulations
of the SEC and the listing standards of the Nasdaq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Any vacancies on the board of directors that
arise other than in respect of appointments of the directors appointed by Oria or an affiliate of Cassio Bobsin as set out above or upon
the removal of a director by resolution passed at a general meeting can be filled by the remaining directors (notwithstanding that they
may constitute less than a quorum). Any such appointment shall be as an interim director to fill such vacancy until the next annual general
meeting of shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Subject to the foregoing, additions to the existing
board (within the limits set pursuant to the articles of association) may be made by ordinary resolution of the shareholders.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; background-color: white"><B><I>Grounds for Removing a Director</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">A director may be removed
with or without cause by ordinary resolution, save that the director appointed by an affiliate of Cassio Bobsin may be removed by such
affiliate of Cassio Bobsin at its discretion and the director appointed by Oria may be removed by Oria at its discretion. The notice of
general meeting must contain a statement of the intention to remove the director and must be served on the director not less than ten
calendar days before the meeting. The director is entitled to attend the meeting and be heard on the motion for his removal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">The office of a director
will be vacated automatically if he or she (1)&nbsp;becomes prohibited by law from being a director, (2)&nbsp;becomes bankrupt or makes
an arrangement or composition with his creditors, (3)&nbsp;dies or is, in the opinion of all his co-directors, incapable by reason of
mental disorder of discharging his duties as director, (4)&nbsp;resigns his office by notice to us or (5)&nbsp;has for more than six months
been absent without permission of the directors from meetings of the board of directors held during that period, and the remaining directors
resolve that his or her office be vacated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; background-color: white"><B><I>Proceedings of the Board of Directors</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">Our articles of association
provide that our business is to be managed and conducted by the board of directors, save that we may not without (i) the consent of Cassio
Bobsin, or in his absence, a director appointed by him while there is such director and (ii) the consent of a director appointed by Oria
while there is such director: create new classes of shares, issue new shares, options, warrants or convertible securities of similar nature
conferring the right upon the holders thereof to subscribe for purchase or receive any class of shares or securities in our capital; capital
reduction, repurchase, amortization or redemption of any shares; approve the payment of any remuneration to a Director or executive Officer;
approve any incentive plan (as set out in the articles of association); change our accounting practices except as required by applicable
law; execute and/or terminate any shareholders&#8217; agreement, quotaholders&#8217; agreement, or any other agreements related to our
interest in any subsidiary; approve our financial statements; observed rights of any affiliate of Cassio Bobsin or Oria under their applicable
registration rights agreement, to effect offerings securities by us, or hire any investment banks or service providers inherent to any
such offerings; approve the listing and/or the delisting of our securities with any designated stock exchange; change our dividend policy
and/or approve any dividend, create and/or use our reserves; approve any budget, as well as any amendment to an approved budget or increases
above five percent (5%) on its global approved amount and/or ten percent (10%) in each line; raise capital, borrow money, mortgage or
charge all or any part of the undertaking, property and assets (present and future) and uncalled capital in one transaction or in a series
of transactions which value exceeds the equivalent of ten million Reais (R$10,000,000.00); subject to the Law, issue debentures, bonds
and other securities, whether outright or as collateral security for any debt, liability or obligation of the Company or of any third
party in one transaction or in a series of transactions which value exceeds the equivalent of ten million</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; background-color: white">Reais (R$10,000,000.00); acquire, sell
or encumber any of our permanent assets, in one transaction or in a series of transactions, which value exceeds the equivalent of ten
million Brazilian Reais (R$10,000,000); approve any sale or encumbrance, for the benefit of a person of shares issued by any subsidiary
or entities where we have an interest, or the admission of any new partner or shareholder in such subsidiaries; create or dissolve any
permanent committees of the directors or committees where powers are delegated by the board of directors; carry out any investments outside
the scope of our or our subsidiaries&#8217; core business (as set out in the articles of association); incorporate any subsidiary (other
than a wholly-owned subsidiary); acquire, sell or encumber the capital stock of entities in which we have an interest; appoint or terminate
the engagement of any auditor that is not an Authorized Auditor as set out in the articles of association; provide any guarantee in respect
of any person or related person of any of our shareholders, director and/or officers inter alia; appoint any officer; or approve the delegation
of any powers by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">The quorum necessary
for the board meeting shall be a simple majority of the directors then in office (subject to there being a minimum of three directors
present) and business at any meeting shall be decided by a majority of votes. In the case of an equality of votes, the chairman shall
not have a casting vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">Subject to the foregoing
and the provisions of the articles of association, the board of directors may regulate its proceedings as they determine is appropriate.
Board meetings shall be held at least once every calendar quarter and shall take place either in S&atilde;o Paulo, Brazil or at such other
place as the directors may determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">Subject to the provisions
of the articles of association, to any directions given by ordinary resolution of the shareholders and the listing rules of the Nasdaq,
the board of directors may from time to time at its discretion exercise all powers of Zenvia Inc., including, subject to the Companies
Act, the power to issue debentures, bonds and other securities of the company, whether outright or as collateral security for any debt,
liability or obligation of our company or of any third party.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; background-color: white"><B>Inspection of Books and Records</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">Other than Oria, that
so long as it holds Class B common shares, will have certain inspection rights set forth in the articles of association, holders of our
shares will have no general right under Cayman Islands law to inspect or obtain copies of the list of shareholders or corporate records
of the Company. However, the board of directors may determine from time to time whether and to what extent our accounting records and
books shall be open to inspection by shareholders who are not members of the board of directors. Notwithstanding the above, the articles
of association provide shareholders with the right to receive annual financial statements. Such right to receive annual financial statements
may be satisfied by publishing the same on the company&#8217;s website or filing such annual reports as we are required to file with the
SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; background-color: white"><B>Register of Shareholders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">Our Class&nbsp;A common
shares are generally held through DTC, and DTC or Cede&nbsp;&amp; Co., as nominee for DTC, recorded in the shareholders&#8217; register
as the holder of our Class&nbsp;A common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">Under Cayman Islands
law, we must keep a register of shareholders that includes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the names and addresses of the shareholders, a statement of the shares held by each member, and of the amount paid or agreed to be
considered as paid, on the shares of each member;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>whether voting rights attach to the shares in issue;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the date on which the name of any person was entered on the register as a member; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the date on which any person ceased to be a member.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">Under Cayman Islands
law, our register of shareholders is&nbsp;<I>prima facie</I>&nbsp;evidence of the matters set out therein (<I>i.e.</I>, the register of
shareholders will raise a presumption of fact on the matters referred to above unless rebutted) and a shareholder registered in the register
of shareholders is deemed as a matter of Cayman Islands law to have&nbsp;<I>prima facie</I>&nbsp;legal title to the shares as set against
his or her name in the register of shareholders. Once the register of shareholders has been updated,
the shareholders recorded in the register of shareholders should be deemed to have legal title to the shares set against their name.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">However, there are
certain limited circumstances where an application may be made to a Cayman Islands court for a determination on whether the register of
shareholders reflects the correct legal position. Further, the Cayman Islands court has the power to order that the register of shareholders
maintained by a company should be rectified where it considers that the register of shareholders does not reflect the correct legal position.
If an application for an order for rectification of the register of shareholders were made in respect of our common shares, then the validity
of such shares may be subject to re-examination by a Cayman Islands court.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; background-color: white"><B>Exempted Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">We are an exempted
company with limited liability under the Companies Act. The Companies Act distinguishes between ordinary resident companies and exempted
companies. Any company that is registered in the Cayman Islands but conducts business mainly outside of the Cayman Islands may apply to
be registered as an exempted company. The requirements for an exempted company are essentially the same as for an ordinary company except
for the exemptions and privileges listed below:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an exempted company does not have to file an annual return of its shareholders with the Registrar of Companies;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an exempted company&#8217;s register of shareholders is not open to inspection;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an exempted company does not have to hold an annual general meeting;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an exempted company may obtain an undertaking against the imposition of any future taxation (such undertakings are usually given for
20 years in the first instance);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an exempted company may register by way of continuation in another jurisdiction and be deregistered in the Cayman Islands;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an exempted company may register as a limited duration company; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an exempted company may register as a segregated portfolio company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">&#8220;Limited liability&#8221;
means that the liability of each shareholder is limited to the amount unpaid by the shareholder on the shares of the company (except in
exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other
circumstances in which a court may be prepared to pierce or lift the corporate veil).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; background-color: white"><B>Anti-Takeover Provisions in Our Articles
of Association</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">Some provisions of
the articles of association may discourage, delay or prevent a change in our control or management that shareholders may consider favorable.
In particular, our capital structure concentrates ownership of voting rights in the hands of Cassio Bobsin, Oria Zenvia Co-investment
Holdings, LP, Oria Tech Zenvia Co-investment &#8211; Fundo de Investimento em Participa&ccedil;&otilde;es Multiestrat&eacute;gia and Oria
Tech I Inova&ccedil;&atilde;o Fundo de Investimento em Participa&ccedil;&otilde;es Multiestrat&eacute;gia. These provisions, which are
summarized below, are expected to discourage coercive takeover practices and inadequate takeover bids. These provisions are also designed
to encourage persons seeking to acquire our control to first negotiate with the board of directors. However, these provisions could also
have the effect of discouraging others from attempting hostile takeovers and, consequently, they may also inhibit temporary fluctuations
in the market price of the Class&nbsp;A common shares that often result from actual or rumored hostile takeover attempts. These provisions
may also have the effect of preventing changes in our management. It is possible that these provisions could make it more difficult to
accomplish transactions that shareholders may otherwise deem to be in their best interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; background-color: white"><B><I>Two Classes of Common Shares</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">Our Class&nbsp;B common
shares of are entitled to 10&nbsp;votes per share, while the Class&nbsp;A common shares are entitled to one vote per share. Since Cassio
Bobsin, Oria Zenvia Co-investment Holdings, LP, Oria Tech Zenvia Co-investment &#8211; Fundo de Investimento em Participa&ccedil;&otilde;es
Multiestrat&eacute;gia and Oria Tech I Inova&ccedil;&atilde;o Fundo de Investimento em Participa&ccedil;&otilde;es Multiestrat&eacute;gia
own all of our Class&nbsp;B common shares, they have the ability to elect all directors and to determine the outcome of most matters
submitted for a vote of shareholders. This concentrated voting control could discourage others from initiating any potential merger,
takeover, or other change of control transaction that other shareholders may view as beneficial.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">So long as Cassio Bobsin,
Oria Zenvia Co-investment Holdings, LP, Oria Tech Zenvia Co-investment &#8211; Fundo de Investimento em Participa&ccedil;&otilde;es Multiestrat&eacute;gia
and Oria Tech I Inova&ccedil;&atilde;o Fundo de Investimento em Participa&ccedil;&otilde;es Multiestrat&eacute;gia have the ability to
determine the outcome of most matters submitted to a vote of shareholders as well as the overall management and direction of Zenvia Inc.,
third parties may be deterred in their willingness to make an unsolicited merger, takeover, or other change of control proposal, or to
engage in a proxy contest for the election of directors. As a result, the fact that we have two classes of common shares may have the
effect of depriving you as a holder of Class&nbsp;A common shares of an opportunity to sell your Class&nbsp;A common shares at a premium
over prevailing market prices and make it more difficult to replace the directors and management of Zenvia Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; background-color: white"><B><I>Preferred Shares</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">Our board of directors
is given wide powers to issue one or more classes or series of shares with preferred rights. Such preferences may include, for example,
dividend rights, conversion rights, redemption privileges, enhanced voting powers and liquidation preferences.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">Despite the anti-takeover
provisions described above, under Cayman Islands law, our board of directors may only exercise the rights and powers granted to them under
the articles of association, for what they believe in good faith to be in our best interests.</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; background-color: white"><B>Protection of Non-Controlling Shareholders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">The Grand Court of
the Cayman Islands may, on the application of shareholders holding not less than one fifth of our shares in issue, appoint an inspector
to examine the Company&#8217;s affairs and report thereon in a manner as the Grand Court shall direct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">Subject to the provisions
of the Companies Act, any shareholder may petition the Grand Court of the Cayman Islands which may make a winding up order, if the court
is of the opinion that this winding up is just and equitable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">Notwithstanding the
U.S. securities laws and regulations that are applicable to us, general corporate claims against us by our shareholders must, as a general
rule, be based on the general laws of contract or tort applicable in the Cayman Islands or their individual rights as shareholders as
established by our articles of association.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">The Cayman Islands
courts ordinarily would be expected to follow English case law precedents, which permit a minority shareholder to commence a representative
action against us, or derivative actions in our name, to challenge (1)&nbsp;an act which is ultra vires or illegal, (2)&nbsp;an act which
constitutes a fraud against the minority and the wrongdoers themselves control Zenvia Inc., and (3)&nbsp;an irregularity in the passing
of a resolution that requires a qualified (or special) majority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; background-color: white"><B>Registration Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">We entered into a
registration rights agreement with substantially all of our pre-IPO shareholders pursuant to which we granted them customary registration
rights for the resale of the Class A common shares held by them (including Class A common shares acquired upon conversion of Class B
common shares). Registration of these shares under the Securities Act would result in these shares becoming freely tradable without restriction
under the Securities Act immediately upon the effectiveness of the registration, except for shares purchased by affiliates. Class A common
shares covered by a registration statement will be eligible for sales in the public. In addition, even if such shareholders do not exercise
their formal registration rights, they or entities controlled by them or their permitted transferees will, subject to customary lock-up
agreements, be able to sell their shares in the public market from time to time without registering them, subject to certain limitations
on the timing, amount and method of those sales imposed by regulations promulgated by the SEC.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; background-color: white">On March 22, 2024,
we amended and restated our Registration Rights Agreement to provide that, with respect to the allocation available to Pre-IPO Shareholders
in any underwritten offering associated with the exercise of (i) a demand registration and (ii) a piggyback registration (a) Oria Zenvia
Co-Investment I, Oria Tech Zenvia FIP and Oria Tech FIP I&nbsp;and (b) Bobsin Corp. shall have the right to allocate the same number of
registrable securities. See Exhibit 4.01 - Amended and Restarted Registration Rights Agreement.</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Principal Differences between Cayman Islands and U.S. Corporate
Law</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Companies Act was modelled originally
after similar laws in England and Wales but does not follow subsequent statutory enactments in England and Wales. In addition, the Companies
Act differs from laws applicable to U.S. corporations and their shareholders. Set forth below is a summary of the significant differences
between the provisions of the Companies Act applicable to us and the laws applicable to companies incorporated in the United States and
their shareholders.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Mergers and Similar Arrangements</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In certain circumstances the Companies
Act allows for mergers or consolidations between two Cayman Islands companies, or between a Cayman Islands company and a company incorporated
in another jurisdiction (provided that is facilitated by the laws of that other jurisdiction).</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Where the merger or consolidation is between
two Cayman Islands companies, the directors of each company must approve a written plan of merger or consolidation, containing certain
prescribed information. That plan or merger or consolidation must then be authorized by either (a)&nbsp;a special resolution (usually
a majority of 66 2/3 % in value) of the shareholders of each company; or (b)&nbsp;such other authorization, if any, as may be specified
in such company&#8217;s articles of association. No shareholder resolution is required for a merger between a parent company (i.e., a
company that owns at least 90% of the issued shares of each class in a subsidiary company) and its subsidiary company. The consent of
each holder of a fixed or floating security interest of a constituent company must be obtained, unless the court waives such requirement.
If the Cayman Islands Registrar of Companies is satisfied that the requirements of the Companies Act (which includes certain other formalities)
have been complied with, the Registrar of Companies will register the plan of merger or consolidation. Where the merger or consolidation
involves a foreign company, the procedure is similar, save that with respect to the foreign company, the director of the Cayman Islands
company is required to make a declaration to the effect that, having made due enquiry, he is of the opinion that the requirements set
out below have been met: (i) that the merger or consolidation is permitted or not prohibited by the constitutional documents of the foreign
company and by the laws of the jurisdiction in which the foreign company is incorporated, and that those laws and any requirements of
those constitutional documents have been or will be complied with; (ii)&nbsp;that no petition or other similar proceeding has been filed
and remains outstanding or order made or resolution adopted to wind up or liquidate the foreign company in any jurisdictions; (iii)&nbsp;that
no receiver, trustee, administrator or other similar person has been appointed in any jurisdiction and is acting in respect of the foreign
company, its affairs or property or any part thereof; (iv)&nbsp;that no scheme, order, compromise or other similar arrangement has been
entered into or made in any jurisdiction whereby the rights of creditors of the foreign company are and continue to be suspended or restricted.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Where the surviving company is the Cayman
Islands company, the director of the Cayman Islands company is further required to make a declaration to the effect that, having made
due enquiry, he is of the opinion that the requirements set out below have been met: (i) that the foreign company is able to pay its
debts as they fall due and that the merger or consolidated is bona fide and not intended to defraud unsecured creditors of the foreign
company; (ii) that in respect of the transfer of any security interest granted by the foreign company to the surviving or consolidated
company (a) consent or approval to the transfer has been obtained, released or waived; (b) the transfer is permitted by and has been
approved in accordance with the constitutional documents of the foreign company; and (c) the laws of the jurisdiction of the foreign
company with respect to the transfer have been or will be complied with; (iii) that the foreign company will, upon the merger or consolidation
becoming effective, cease to be incorporated, registered or exist under the laws of the relevant foreign jurisdiction; and (iv) that
there is no other reason why it would be against the public interest to permit the merger or consolidation.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Where the above procedures are adopted,
the Companies Act provides for a right of dissenting shareholders to be paid a payment of the fair value of his shares upon their dissenting
to the merger or consolidation if they follow a prescribed procedure. In essence, that procedure is as follows (a) the shareholder must
give his written objection to the merger or consolidation to the constituent company before the vote on the merger or consolidation,
including a statement that the shareholder proposes to demand payment for his shares if the merger or consolidation is authorized by
the vote; (b) within 20 days following the date on which the merger or consolidation is approved by the shareholders, the constituent
company must give written notice to each shareholder who made a written objection; (c) a shareholder must within 20 days following receipt
of such notice from the constituent company, give the constituent company a written notice of his intention to dissent including, among
other details, a demand for payment of the fair value of his shares; (d) within seven days following the date of the expiration of the
period set out in paragraph (b) above or seven days following the date on which the plan of merger or consolidation is filed, whichever
is later, the constituent company, the surviving company or the consolidated company must make a written offer to each dissenting shareholder
to purchase his shares at a price that the company determines is the fair value and if the company and the shareholder agree the price
within 30 days following the date on which the offer was made, the company must pay the shareholder such amount; (e) if the company and
the shareholder fail to agree a price within such 30 day period, within 20 days following the date on which such 30 day period expires,
the company (and any dissenting shareholder) must file a petition with the Cayman Islands Grand Court to determine the fair value and
such petition must be accompanied by a list of the names and addresses of the dissenting shareholders with whom agreements as to the
fair value of their shares have not been reached by the company. At the hearing of that petition, the court has the power to determine
the fair value of the shares together with a fair rate of interest, if any, to be paid by the company upon the amount determined to be
the fair value. Any dissenting shareholder whose name appears on the list filed by the company may participate fully in all proceedings
until the determination of fair value is reached. These rights of a dissenting shareholder are not be available in certain circumstances,
for example, to dissenters holding shares of any class in respect of which an open market exists on a recognized stock exchange or recognized
interdealer quotation system at the relevant date or where the consideration for such shares to be contributed are shares of any company
listed on a national securities exchange or shares of the surviving or consolidated company.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Moreover, Cayman Islands law also has separate
statutory provisions that facilitate the reconstruction or amalgamation of companies in certain circumstances, schemes of arrangement
will generally be more suited for complex mergers or other transactions involving widely held companies, commonly referred to in the
Cayman Islands as a &#8220;scheme of arrangement&#8221; which may be tantamount to a merger. In the event that a merger was sought pursuant
to a scheme of arrangement (the procedure of which are more rigorous and take longer to complete than the procedures typically required
to consummate a merger in the United States), the arrangement in question must be approved by shareholders representing three-fourths
in value of each class of shareholders with whom the arrangement is to be made, or by a majority in number of each class of creditors
with whom the arrangement is to be made, and who must in addition represent three-fourths in value of each such class creditors, as the
case may be, that are present and voting either in person or by proxy at a meeting, or meeting summoned for that purpose. The convening
of the meetings and subsequently the terms of the arrangement must be sanctioned by the Grand Court of the Cayman Islands. While a dissenting
shareholder would have the right to express to the court the view that the transaction should not be approved, the court can be expected
to approve the arrangement if it satisfies itself that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>we are not proposing to act illegally or beyond the scope of our corporate authority and the statutory provisions as to majority vote
have been complied with;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the shareholders have been fairly represented at the meeting in question;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the arrangement is such as a businessman would reasonably approve; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the arrangement is not one that would more properly be sanctioned under some other provision of the Companies Act or that would amount
to a &#8220;fraud on the minority.&#8221;</TD></TR></TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0; text-indent: 0.5in">If a scheme of arrangement or takeover offer
(as described below) is approved, any dissenting shareholder would have no rights comparable to appraisal rights, which would otherwise
ordinarily be available to dissenting shareholders of United States corporations, providing rights to receive payment in cash for the
judicially determined value of the shares.</P>

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<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Squeeze-Out Provisions</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">When a takeover offer is made and accepted
by holders of 90.0% of the shares to whom the offer is made within four months, the offeror may, within a two-month period, require the
holders of the remaining shares to transfer such shares on the terms of the offer. An objection may be made to the Grand Court of the
Cayman Islands but is unlikely to succeed unless there is evidence of fraud, bad faith, collusion or inequitable treatment of the shareholders.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Further, transactions similar to a merger,
reconstruction and/or an amalgamation may in some circumstances be achieved through other means to these statutory provisions, such as
a share capital exchange, asset acquisition or control, through contractual arrangements, of an operating business.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0"><B><I>Shareholders&#8217; Suits</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Our Cayman Islands counsel is not aware
of any reported class action having been brought in a Cayman Islands court. Derivative actions have been brought in the Cayman Islands
courts, and the Cayman Islands courts have confirmed the availability for such actions. In most cases, we will be the proper plaintiff
in any claim based on a breach of duty owed to us, and a claim against (for example) our officers or directors usually may not be brought
by a shareholder. However, based on English authorities, which would in all likelihood be of persuasive authority and be applied by a
court in the Cayman Islands, exceptions to the foregoing principle apply in circumstances in which:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a company is acting or proposing to act illegally or beyond the scope of its authority;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the act complained of, although not beyond the scope of the authority, could be effected if duly authorized by more than the number
of votes which have actually been obtained; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>those who control the company are perpetrating a &#8220;fraud on the minority.&#8221;</TD></TR></TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0; text-indent: 0.5in">A shareholder may have a direct right of
action against us where the individual rights of that shareholder have been infringed or are about to be infringed.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Borrowing Powers</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Except as expressly provided in our articles
of association, our directors may exercise all the powers of Zenvia Inc. to borrow money and to mortgage or charge its undertaking, property
and assets (present and future) and uncalled capital or any part thereof and to issue debentures, debenture stock, mortgages, bonds and
other such securities whether outright or as security for any debt, liability or obligation of Zenvia Inc. or of any third party. Such
powers may be varied by a special resolution of shareholders (requiring a two-thirds majority vote).</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Indemnification of Directors and Executive Officers and
Limitation of Liability</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Companies Act does not limit the extent
to which a company&#8217;s articles of association may provide for indemnification of directors and officers, except to the extent that
it may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil fraud or
the consequences of committing a crime. Our articles of association provides that we shall indemnify and hold harmless our directors
and officers against all actions, proceedings, costs, charges, expenses, losses, damages, liabilities, judgments, fines, settlements
and other amounts incurred or sustained by such directors or officers, other than by reason of such person&#8217;s dishonesty, willful
default or fraud, in or about the conduct of our company&#8217;s business or affairs (including as a result of any mistake of judgment)
or in the execution or discharge of his duties, powers, authorities or discretions, including without prejudice to the generality of
the foregoing, any costs, expenses, losses or liabilities incurred by such director or officer in defending (whether successfully or
otherwise) any civil, criminal or other proceedings concerning us or our affairs in any court whether in the Cayman Islands or elsewhere.
This standard of conduct is generally the same as permitted under the Delaware General Corporation Law for a Delaware corporation.</P>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to our directors, officers or persons controlling the Company under the foregoing provisions,
we have been informed that, in the opinion of the SEC, this indemnification is against public policy as expressed in the Securities Act
and is therefore unenforceable.</P>

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<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0"><B><I>Directors&#8217; and Controlling Shareholders&#8217; Fiduciary
Duties</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">As a matter of Cayman Islands law, a director
of a Cayman Islands company is in the position of a fiduciary with respect to the company. Accordingly, directors owe fiduciary duties
to their companies to act bona fide in what they consider to be the best interests of the company, to exercise their powers for the purposes
for which they are conferred and not to place themselves in a position where there is a conflict between their personal interests and
their duty to the company. Accordingly, a director owes a company a duty not to make a profit based on his or her position as director
(unless the company permits him or her to do so) and a duty not to put himself or herself in a position where the interests of the company
conflict with his or her personal interest or his or her duty to a third party. However, this obligation may be varied by the company&#8217;s
articles of association, which may permit a director to vote on a matter in which he has a personal interest provided that he has disclosed
that nature of his interest to the board of directors. Our Articles of Association provides that a director must disclose the nature and
extent of his or her interest in any contract or arrangement, and following such disclosure and subject to any separate requirement under
applicable law or the listing rules of the Nasdaq, and unless disqualified by the chairman of the relevant meeting, such director may
vote in respect of any transaction or arrangement in which he or she is interested and may be counted in the quorum at the meeting.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">A director of a Cayman Islands company
also owes to the company duties to exercise independent judgment in carrying out his functions and to exercise reasonable skill, care
and diligence, which has both objective and subjective elements. Recent Cayman Islands case law confirmed that directors must exercise
the care, skill and diligence that would be exercised by a reasonably diligent person having the general knowledge, skill and experience
reasonably to be expected of a person acting as a director. Additionally, a director must exercise the knowledge, skill and experience
which he or she actually possesses.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">A general notice may be given to the board
of directors to the effect that (1)&nbsp;the director is a member or officer of a specified company or firm and is to be regarded as interested
in any contract or arrangement which may after the date of the notice be made with that company or firm; or (2)&nbsp;he or she is to be
regarded as interested in any contract or arrangement which may after the date of the notice to the board of directors be made with a
specified person who is connected with him or her, will be deemed sufficient declaration of interest. This notice shall specify the nature
of the interest in question. Following the disclosure being made pursuant to our articles of association and subject to any separate requirement
under applicable law or the listing rules of the Nasdaq, and unless disqualified by the chairman of the relevant meeting, a director may
vote in respect of any transaction or arrangement in which he or she is interested and may be counted in the quorum at the meeting.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In comparison, under Delaware corporate
law, a director of a Delaware corporation has a fiduciary duty to the corporation and its shareholders. This duty has two components:
the duty of care and the duty of loyalty. The duty of care requires that a director act in good faith, with the care that an ordinarily
prudent person would exercise under similar circumstances. Under this duty, a director must inform himself or herself of, and disclose
to shareholders, all material information reasonably available regarding a significant transaction. The duty of loyalty requires that
a director act in a manner he or she reasonably believes to be in the best interests of the corporation. He or she must not use his or
her corporate position for personal gain or advantage. This duty prohibits self-dealing by a director and mandates that the best interest
of the corporation and its shareholders take precedence over any interest possessed by a director, officer or controlling shareholder
and not shared by the shareholders generally. In general, actions of a director are presumed to have been made on an informed basis,
in good faith and in the honest belief that the action taken was in the best interests of the corporation. However, this presumption
may be rebutted by evidence of a breach of one of the fiduciary duties. Should such evidence be presented concerning a transaction by
a director, a director must prove the procedural fairness of the transaction, and that the transaction was of fair value to the corporation.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Furthermore,
as a matter of Cayman Islands law and in contrast to the position under Delaware corporate law, controlling shareholders of Cayman Islands
companies do not owe fiduciary duties to those companies, other than the limited duty that applies to all shareholders to exercise their
votes to amend a company&#8217;s articles of association in good faith in the interests of the company. The absence of this minority
shareholder protection might impact the ability of minority shareholders to protect their interests.</P>

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<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Shareholder Proposals</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Under the Delaware General Corporation
Law, a shareholder has the right to put any proposal before the annual meeting of shareholders, provided it complies with the notice provisions
in the governing documents. The Delaware General Corporation Law does not provide shareholders an express right to put any proposal before
the annual meeting of shareholders, but Delaware corporations generally afford shareholders an opportunity to make proposals and nominations
provided that they comply with the notice provisions in the certificate of incorporation or bylaws. A special meeting may be called by
the board of directors or any other person authorized to do so in the governing documents, but shareholders may be precluded from calling
special meetings.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Companies Act provides shareholders
with only limited rights to requisition a general meeting and does not provide shareholders with any right to put any proposal before
a general meeting. However, these rights may be provided in a company&#8217;s articles of association. Our articles of association provides
that upon the requisition of one or more shareholders representing not less than one-third of the voting rights entitled to vote at general
meetings, the board will convene an extraordinary general meeting and put the resolutions so requisitioned to a vote at such meeting.
The articles of association provide no other right to put any proposals before annual general meetings or extraordinary general meetings.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Cumulative Voting</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Under the Delaware General Corporation
Law, cumulative voting for elections of directors is not permitted unless the corporation&#8217;s certificate of incorporation specifically
provides for it. Cumulative voting potentially facilitates the representation of minority shareholders on a board of directors since it
permits the minority shareholder to cast all the votes to which the shareholder is entitled on a single director, which increases the
shareholder&#8217;s voting power with respect to electing such director. As permitted under Cayman Islands law, our articles of association
does not provide for cumulative voting. As a result, our shareholders are not afforded any less protections or rights on this issue than
shareholders of a Delaware corporation.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0"><B><I>Removal of Directors</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The office of a director shall be vacated
automatically if, among other things, he or she (1)&nbsp;becomes prohibited by law from being a director, (2)&nbsp;becomes bankrupt or
makes an arrangement or composition with his creditors, (3)&nbsp;dies or is, in the opinion of all his co-directors, incapable by reason
of mental disorder of discharging his duties as director (4)&nbsp;resigns his office by notice to us or (5)&nbsp;has for more than six
months been absent without permission of the directors from meetings of the board of directors held during that period, and the remaining
directors resolve that his/her office be vacated.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Transaction with Interested Shareholders</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Delaware General Corporation Law provides
that; unless the corporation has specifically elected not to be governed by this statute, it is prohibited from engaging in certain business
combinations with an &#8220;interested shareholder&#8221; for three years following the date that this person becomes an interested shareholder.
An interested shareholder generally is a person or a group who or which owns or owned 15% or more of the target&#8217;s outstanding voting
shares or who or which is an affiliate or associate of the corporation and owned 15% or more of the corporation&#8217;s outstanding voting
shares within the past three years. This has the effect of limiting the ability of a potential acquirer to make a two-tiered bid for
the target in which all shareholders would not be treated equally. The statute does not apply if, among other things, prior to the date
on which the shareholder becomes an interested shareholder, the board of directors approves either the business combination or the transaction
which resulted in the person becoming an interested shareholder. This encourages any potential acquirer of a Delaware corporation to
negotiate the terms of any acquisition transaction with the target&#8217;s board of directors.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Cayman Islands law has no comparable statute.
As a result, we cannot avail itself of the types of protections afforded by the Delaware business combination statute. However, although
Cayman Islands law does not regulate transactions between a company and its significant shareholders, it does provide that the board
of directors owe duties to ensure that these transactions are entered into bona fide in the best interests of the company and for a proper
corporate purpose and, as noted above, a transaction may be subject to challenge if it has the effect of constituting a fraud on the
minority shareholders.</P>

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<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Dissolution; Winding Up</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Under the Delaware General Corporation
Law, unless the board of directors approves the proposal to dissolve, dissolution must be approved by shareholders holding 100% of the
total voting power of the corporation. If the dissolution is initiated by the board of directors, it may be approved by a simple majority
of the corporation&#8217;s outstanding shares. Delaware law allows a Delaware corporation to include in its certificate of incorporation
a supermajority voting requirement in connection with dissolutions initiated by the board. Under Cayman Islands law, a company may be
wound up by either an order of the courts of the Cayman Islands or by a special resolution of its members or, if the company resolves
by ordinary resolution that it be wound up because it is unable to pay its debts as they fall due. The court has authority to order winding
up in a number of specified circumstances including where it is, in the opinion of the court, just and equitable to do so.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Under the Companies Act, we may be dissolved,
liquidated or wound up by a special resolution of shareholders (requiring a two-thirds majority vote). Our articles of association also
give our board of directors the authority to petition the Cayman Islands Court to wind up Zenvia.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Variation of Rights of Shares</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Under the Delaware General Corporation
Law, a corporation may vary the rights of a class of shares with the approval of a majority of the outstanding shares of that class, unless
the certificate of incorporation provides otherwise. Under our articles of association, if the share capital is divided into more than
one class of shares, the rights attached to any class may only be varied with the written consent of the holders of two-thirds of the
shares of that class or the sanction of a special resolution passed at a separate meeting of the holders of the shares of that class.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Also, except with respect to share capital
(as described above), alterations to our articles of association may only be made by special resolution of shareholders (requiring a two-thirds
majority vote).</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Amendment of Governing Documents</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Under the Delaware General Corporation
Law, a corporation&#8217;s certificate of incorporation may be amended only if adopted and declared advisable by the board of directors
and approved by a majority of the outstanding shares entitled to vote, and the bylaws may be amended with the approval of a majority of
the outstanding shares entitled to vote and may, if so provided in the certificate of incorporation, also be amended by the board of directors.
Under Cayman Islands law, our articles of association generally (and save for certain amendments to share capital described in this section)
may only be amended by special resolution of shareholders (requiring a two-thirds majority vote).</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Rights of Non-Resident or Foreign Shareholders</I></B></P>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">There are no limitations imposed by our
articles of association on the rights of non-resident or foreign shareholders to hold or exercise voting rights on our shares. In addition,
there are no provisions in the articles of association governing the ownership threshold above which shareholder ownership must be disclosed.</P>


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<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Handling of Mail</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Mail addressed to us and received at our
registered office will be forwarded unopened to the forwarding address, which will be supplied by us. None of us, our directors, officers,
advisors or service providers (including the organization which provides registered office services in the Cayman Islands) will bear any
responsibility for any delay whatsoever caused in mail reaching the forwarding address.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0"><B><I>Cayman Islands Data Protection</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We have certain duties under the Data Protection
Act (As Revised) of the Cayman Islands, or the DPA, based on internationally accepted principles of data privacy.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Privacy Notice</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">This privacy notice puts our shareholders
on notice that through your investment in us you will provide us with certain personal information which constitutes personal data within
the meaning of the DPA, or personal data.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Investor Data</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We will collect, use, disclose, retain
and secure personal data to the extent reasonably required only and within the parameters that could be reasonably expected during the
normal course of business. We will only process, disclose, transfer or retain personal data to the extent legitimately required to conduct
our activities on an ongoing basis or to comply with legal and regulatory obligations to which we are subject. We will only transfer personal
data in accordance with the requirements of the DPA, and will apply appropriate technical and organizational information security measures
designed to protect against unauthorized or unlawful processing of the personal data and against the accidental loss, destruction or damage
to the personal data.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In our use of this personal data, we will
be characterized as a &#8220;data controller&#8221; for the purposes of the DPA, while our affiliates and service providers who may receive
this personal data from us in the conduct of our activities may either act as our &#8220;data processors&#8221; for the purposes of the
DPA or may process personal information for their own lawful purposes in connection with services provided to us.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0; text-indent: 0.5in">We may also obtain personal data from other
public sources. Personal data includes, without limitation, the following information relating to a shareholder and/or any individuals
connected with a shareholder as an investor: name, residential address, email address, contact details, corporate contact information,
signature, nationality, place of birth, date of birth, tax identification, credit history, correspondence records, passport number, bank
account details, source of funds details and details relating to the shareholder&#8217;s investment activity.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Who this Affects</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">If you are a natural person, this will
affect you directly. If you are a corporate investor (including, for these purposes, legal arrangements such as trusts or exempted limited
partnerships) that provides us with personal data on individuals connected to you for any reason in relation your investment in us, this
will be relevant for those individuals and you should transmit the content of this Privacy Notice to such individuals or otherwise advise
them of its content.&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>How We May Use a Shareholder&#8217;s Personal Data</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We may, as the data controller, collect,
store and use personal data for lawful purposes, including, in particular: (i) where this is necessary for the performance of our rights
and obligations under any agreements; (ii) where this is necessary for compliance with a legal and regulatory obligation to which we
are or may be subject (such as compliance with anti-money laundering and FATCA/CRS requirements); and/or (iii) where this is necessary
for the purposes of our legitimate interests and such interests are not overridden by your interests, fundamental rights or freedoms.</P>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Should we wish to use personal data for
other specific purposes (including, if applicable, any purpose that requires your consent), we will contact you.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Why We May Transfer the Personal Data of Investors</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In certain circumstances we may be legally
obliged to share personal data and other information with respect to your shareholding with the relevant regulatory authorities such as
the Cayman Islands Monetary Authority or the Tax Information Authority. They, in turn, may exchange this information with foreign authorities,
including tax authorities.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We anticipate disclosing personal data
to persons who provide services to us and their respective affiliates (which may include certain entities located outside the US, the
Cayman Islands or the European Economic Area), who will process your personal data on our behalf.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>The Data Protection Measures We Take</I></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Any transfer of personal data by us or
our duly authorized affiliates and/or delegates outside of the Cayman Islands shall be in accordance with the requirements of the DPA.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We and our duly authorized affiliates and/or
delegates shall apply appropriate technical and organizational information security measures designed to protect against unauthorized
or unlawful processing of personal data, and against accidental loss or destruction of, or damage to, personal data.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We shall notify you of any personal data
breach that is reasonably likely to result in a risk to your interests, fundamental rights or freedoms or those data subjects to whom
the relevant personal data relates.</P>


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<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Certain Cayman Islands Legal Requirements Related to Dividends</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-weight: normal">Under the
Companies Act and our articles of association, a Cayman Islands company may pay a dividend out of either its profit or share premium account,
but a dividend may not be paid if this would result in the company being unable to pay its debts as they fall due in the ordinary course
of business. According to our articles of association, dividends can be declared and paid out of funds lawfully available to us, which
include the share premium account. Dividends, if any, would be paid in proportion to the number of common shares a shareholder holds.
</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Transfer Agent and Registrar</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The transfer agent and registrar for our Class
A common shares is Computershare Trust Company, N.A., Computershare Inc. The transfer agent and registrar&#8217;s address is 150 Royall
Street, Canton, Massachusetts, 02021.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Listing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Our Class A common shares are listed on the
Nasdaq Capital Market under the symbol &#8220;ZENV.&#8221;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_009"></A>DESCRIPTION
OF DEBT SECURITIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">The debt securities will be senior debt securities
and our direct general obligations. The debt securities may be secured or unsecured and may be convertible into other securities, including
our Class A common shares. The debt securities will be issued under one or more separate indentures between us and a financial institution
that will act as trustee. Senior debt securities will be issued under a senior indenture, which is referred to as the indenture. The material
terms of any indenture will be set forth in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">We have summarized certain terms and provisions
of the indentures. The summary is not complete. The indentures are subject to and governed by the Trust Indenture Act of 1939, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">The indenture will not limit the amount of debt
securities that we may issue. We may issue debt securities up to an aggregate principal amount as we may authorize from time to time.
The applicable prospectus supplement will describe the terms of any debt securities being offered. These terms will include some or all
of the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>classification as senior debt securities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>ranking of the specific series of debt securities relative to other outstanding indebtedness, including subsidiaries&#8217; debt;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the designation, aggregate principal amount and authorized denominations;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the date or dates on which the principal of the debt securities may be payable;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the rate or rates (which may be fixed or variable) per annum at which the debt securities shall bear interest, if any;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the date or dates from which such interest shall accrue, on which such interest shall be payable, and on which a record shall be taken
for the determination of holders of the debt securities to whom interest is payable;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the place or places where the principal and interest shall be payable;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our right, if any, to redeem the debt securities, in whole or in part, at our option and the period or periods within which, the price
or prices at which and any terms and conditions upon which such debt securities may be so redeemed, pursuant to any sinking fund or otherwise;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our obligation, if any, of the Company to redeem, purchase or repay any debt securities pursuant to any mandatory redemption, sinking
fund or other provisions or at the option of a holder of the debt securities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>if other than denominations of US$2,000 and any higher integral multiple of US$1,000, the denominations in which the debt securities
will be issuable;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>if other than the currency of the United States, the currency or currencies, in which payment of the principal and interest shall
be payable;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>whether the debt securities will be issued in the form of global securities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>provisions, if any, for the defeasance of the debt securities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any U.S. federal income tax consequences; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>other specific terms, including any deletions from, modifications of or additions to the events of default or covenants described
below or in the applicable indenture.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">We may issue the debt securities that will constitute
part of our senior debt under the indenture. These senior debt securities will rank equally and pari passu with all our other unsecured
debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>Authentication and Delivery</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">We will deliver the debt securities to the trustee
for authentication, and the trustee will authenticate and deliver the debt securities upon our written order.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>Events of Default</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">When we use the term &#8220;Event of Default&#8221;
in the indentures with respect to the debt securities of any series, set forth below are some examples of what we mean:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>default in the payment of the principal on the debt securities when it becomes due and payable at maturity or otherwise;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>default in the payment of interest on the debt securities when it becomes due and payable, and such default continues for a period
of 30&nbsp;days;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>default in the performance, or breach, of any covenant in the indenture (other than defaults specified in clauses&nbsp;(1) or (2)&nbsp;above)
and the default or breach continues for a period of 90 consecutive days or more after written notice to us by the trustee or to us and
the trustee by the holders of 25% or more in aggregate principal amount of the outstanding debt securities of all series affected thereby;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(4)</TD><TD>the occurrence of certain events of bankruptcy, insolvency, or similar proceedings with respect to us or any substantial part of our
property; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(5)</TD><TD>any other Events of Default that may be set forth in the applicable prospectus supplement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">If an Event of Default (other than an Event
of Default specified in clause&nbsp;(4) above) with respect to the debt securities of any series then outstanding occurs and is continuing,
then either the trustee or the holders of not less than 25% in principal amount of the securities of all such series then outstanding
in respect of which an Event of Default has occurred may by notice in writing to us declare the entire principal amount of all debt securities
of the affected series, and accrued interest, if any, to be due and payable immediately, and upon any such declaration the same shall
become immediately due and payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">If an Event of Default described in clause&nbsp;(4)
above occurs and is continuing, then the principal amount of all the debt securities then outstanding and accrued interest shall be and
become due immediately and payable without any declaration, notice or other action by any holder of the debt securities or the trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">The trustee will, within 90&nbsp;days after
the occurrence of any default actually known to it, give notice of the default to the holders of the debt securities of that series, unless
the default was already cured or waived. Unless there is a default in paying principal or interest when due, the trustee can withhold
giving notice to the holders if it determines in good faith that the withholding of notice is in the interest of the holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>Satisfaction, Discharge and Defeasance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">We may discharge our obligations under each
indenture, except as to:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the rights of registration of transfer and exchange of debt securities, and our right of optional redemption, if any;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>substitution of mutilated, defaced, destroyed, lost or stolen debt securities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the rights of holders of the debt securities to receive payments of principal and interest;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the rights, obligations and immunities of the trustee; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the rights of the holders of the debt securities as beneficiaries with respect to the property deposited with the trustee payable
to them (as described below);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>either:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>all debt securities of any series issued that have been authenticated and delivered have been delivered by us to the trustee for cancellation;
or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>all the debt securities of any series issued that have not been delivered by us to the trustee for cancellation have become due and
payable or will become due and payable within one year or are to be called for redemption within one year under arrangements satisfactory
to the trustee for the giving of notice of redemption by such trustee in our name and at our expense, and we have irrevocably deposited
or caused to be deposited with the trustee as trust funds the entire amount sufficient to pay at maturity or upon redemption all debt
securities of such series not delivered to the trustee for cancellation, including principal and interest due or to become due on or prior
to such date of maturity or redemption;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>we have paid or caused to be paid all other sums then due and payable under such indenture; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>we have delivered to the trustee an officers&#8217; certificate and an opinion of counsel, each stating that all conditions precedent
under such indenture relating to the satisfaction and discharge of such indenture have been complied with.</TD></TR></TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">In addition, unless the applicable prospectus
supplement and supplemental indenture otherwise provide, we may elect either (i)&nbsp;to have our obligations under each indenture discharged
with respect to the outstanding debt securities of any series, or legal defeasance, or (ii)&nbsp;to be released from our obligations under
each indenture with respect to certain covenants applicable to the outstanding debt securities of any series, or covenant defeasance.
Legal defeasance means that we will be deemed to have paid and discharged the entire indebtedness represented by the outstanding debt
securities of such series under such indenture and covenant defeasance means that we will no longer be required to comply with the obligations
with respect to such covenants (and an omission to comply with such obligations will not constitute a default or event of default).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">In order to exercise legal defeasance or covenant
defeasance with respect to outstanding debt securities of any series:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>we must irrevocably have deposited or caused to be deposited with the trustee as trust funds in trust for the purpose of making the
following payments, specifically pledged as security for, and dedicated solely to the benefits of the holders of the debt securities of
a series:<FONT STYLE="font-family: Times New Roman, Times, Serif"><BR>
</FONT>money in an amount;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>U.S. government obligations; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a combination of money and U.S. government obligations,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt 1in">in each case sufficient without reinvestment, in the written
opinion of a nationally recognized firm of independent public accountants, to pay and discharge, and which shall be applied by the trustee
to pay and discharge, all of the principal and interest at due date or maturity or if we have made irrevocable arrangements satisfactory
to the trustee for the giving of notice of redemption by the trustee, the redemption date;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>we have delivered to the trustee an opinion of counsel stating that, under then applicable U.S. federal income tax law, the beneficial
owners of the debt securities of that series will not recognize gain or loss for U.S. federal income tax purposes as a result of the defeasance
and will be subject to the same federal income tax as would be the case if the defeasance did not occur;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>no default relating to bankruptcy or insolvency and, in the case of a covenant defeasance, no other default has occurred and is continuing
at any time;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>if at such time the debt securities of such series are listed on a national securities exchange, we have delivered to the trustee
an opinion of counsel to the effect that the debt securities of such series will not be delisted as a result of such defeasance; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>we have delivered to the trustee an officers&#8217; certificate and an opinion of counsel stating that all conditions precedent with
respect to the defeasance have been complied with.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">We are required to furnish to each trustee
an annual statement as to compliance with all conditions and covenants under the indenture.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; color: red">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_010"></A>DESCRIPTION
OF WARRANTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We may issue warrants to purchase our debt or
equity securities or securities of third parties or other rights, including rights to receive payment in cash or securities based on the
value, rate or price of one or more specified currencies, securities or indices, or any combination of the foregoing. Warrants may be
issued independently or together with any other securities and may be attached to, or separate from, such securities. Each series of warrants
will be issued under a separate warrant agreement to be entered into between us and a warrant agent. The terms of any warrants to be issued
and a description of the material provisions of the applicable warrant agreement will be set forth in the applicable prospectus supplement.<BR STYLE="clear: both">
</P>


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    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_011"></A>DESCRIPTION
OF RIGHTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.25in">The following description summarizes only the
general features of the rights that we may offer from time to time under this prospectus. The specific terms of a series of rights will
be described in the applicable prospectus supplement relating to that series of rights along with any general provisions applicable to
that series of rights. We may issue rights to our shareholders to purchase our Class A common shares and/or any of the other securities
offered hereby. Each series of rights may be issued under a separate rights agreement to be entered into between us and a bank or trust
company, as rights agent. The following description of the rights and any description of the rights in a prospectus supplement may not
be complete and is subject to, and qualified in its entirety by reference to, the underlying rights agreement, which we will file with
the SEC at or prior to the time of the sale of the rights. You should refer to, and read this summary together with, the rights agreement
and the applicable prospectus supplement to review the terms of a particular series of rights. You can obtain copies of any form of rights
agreement or other agreement pursuant to which the rights are issued by following the directions described under the caption &#8220;Where
You Can Find More Information.&#8221; The applicable prospectus supplement relating to any rights will describe the terms of the offered
rights, including, where applicable, the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the date for determining the persons entitled to participate in the rights distribution;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the exercise price for the rights;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the aggregate number or amount of underlying securities purchasable upon exercise of the rights;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the number of rights issued to each shareholder and the number of rights outstanding, if any;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the extent to which the rights are transferable;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the date on which the right to exercise the rights will commence and the date on which the right will expire;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the extent to which the rights include an over-subscription privilege with respect to unsubscribed securities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>anti-dilution provisions of the rights, if any; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any other material terms of the rights, including terms, procedures and limitations relating to the distribution, exchange and exercise
of the rights.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Holders may exercise rights as described in
the applicable prospectus supplement. Upon receipt of payment and, where applicable, the rights certificate properly completed and duly
executed at the corporate trust office of the rights agent or any other office indicated in the prospectus supplement, we will, as soon
as practicable, forward the securities purchasable upon exercise of the rights. If less than all of the rights issued in any rights offering
are exercised, we may offer any unsubscribed securities directly to persons other than existing shareholders, to or through agents, underwriters
or dealers or through a combination of such methods, including pursuant to standby underwriting arrangements, as described in the applicable
prospectus supplement.</P>


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_012"></A>DESCRIPTION
OF UNITS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We may issue units that include senior debt
securities, common shares, warrants, rights or other securities. Each unit will be issued under a unit agreement or indenture and will
represent an interest in two or more securities, which may or may not be separable from one another. The prospectus supplement relating
to a particular issue of units will describe the terms of those units.<FONT STYLE="color: red"><BR STYLE="clear: both">
</FONT></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_013"></A>TAXATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.25in">Tax considerations relating to the ownership
and disposition of any of the securities offered by this prospectus will be set forth in the applicable prospectus supplement relating
to the offering of those securities.</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><FONT STYLE="text-decoration: none; text-transform: uppercase"><A HREF="#toc" STYLE="text-decoration: none; font-variant: normal; text-transform: uppercase; vertical-align: baseline">Table of Contents</A></FONT></TD><TD STYLE="width: 50%; text-align: right"></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_014"></A>EXPENSES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The following are the estimated expenses of
the issuance and distribution of the securities being registered under the registration statement of which this prospectus forms a part,
all of which will be paid by us. All amounts shown are estimates, except for the SEC registration fee.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 81%; padding-right: 5.75pt; padding-left: 5.75pt">SEC registration fee&#9;</TD>
    <TD STYLE="width: 19%; padding-right: 5.75pt; padding-left: 5.75pt; text-align: right">US$&#9;14,760</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">FINRA fee&#9;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: right"><SUP>(1)</SUP></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">Legal fees and expenses&#9;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: right"><SUP>(1)</SUP></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">Accounting fees and expenses&#9;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: right"><SUP>(1)</SUP></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">Printing expenses&#9;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: right"><SUP>(1)</SUP></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">Miscellaneous expenses&#9;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: right"><SUP>(1)</SUP></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt"><B>Total</B>&#9;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: right"><B>US$&#9;</B><SUP>(1)</SUP></TD></TR>
  </TABLE>
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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>To be updated, if necessary, by amendment, supplement or as an exhibit to a Report on Form 6-K that is incorporated by reference in
this registration statement.</TD></TR></TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; color: red">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_015"></A>MATERIAL CHANGES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Except as otherwise described in our most recent
annual report on Form 20-F, in our Reports on Form 6-K filed or submitted under the Exchange Act and specifically incorporated by reference
herein, and as disclosed in this prospectus or the applicable prospectus supplement, no reportable material changes have occurred since
December 31, 2023.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_016"></A>LEGAL MATTERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We are being represented by Simpson Thacher
&amp; Bartlett LLP with respect to the validity of the debt securities, warrants, rights and units governed by New York State law and
certain other matters of United States federal securities and New York State law. The validity of our Class A common shares and certain
matters governed by Cayman Islands law will be passed on for us by Maples and Calder (Cayman) LLP. Additional legal matters may be passed
upon for any underwriters, dealers or agents by counsel that we will name in the applicable prospectus supplement.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: red"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_017"></A>EXPERTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The consolidated financial statements of Zenvia
Inc. at December 31, 2023, and for the year then ended appearing in Zenvia Inc.&rsquo;s Annual Report (20-F) for the year ended December
31, 2023 have been audited by Ernst &amp; Young Auditores Independentes S.S. Ltda., an independent registered public accounting firm,
as set forth in their report thereon, included therein, and incorporated herein by reference. Such consolidated financial statements
are incorporated herein by reference in reliance upon such report given on the authority of such firm as experts in accounting and auditing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The consolidated financial statements of Zenvia
Inc. as of December 31, 2022, and for each of the years in the two-year period ended December 31, 2022, have been incorporated by reference
herein in reliance upon the report of KPMG Auditores Independentes Ltda., independent registered public accounting firm, incorporated
by reference herein, and upon the authority of said firm as experts in accounting and auditing.<BR STYLE="clear: both">
</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_018"></A>ENFORCEMENT
OF JUDGMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="letter-spacing: -0.2pt"><B>Cayman Islands</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="letter-spacing: 0.2pt">We are incorporated
under the laws of the Cayman Islands as an exempted company with limited liability. We are incorporated in the Cayman Islands because
of certain benefits associated with being a Cayman Islands company, such as political and economic stability, an effective judicial system,
a favorable tax system, the absence of foreign exchange control or currency restrictions and the availability of professional and support
services. However, the Cayman Islands have a less prescriptive body of securities laws as compared to the United States and some U.S.
states, such as Delaware, have more fulsome and judicially interpreted bodies of corporate law than the Cayman Islands. In addition, Cayman
Islands companies may not have standing to sue before the federal courts of the United States.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="letter-spacing: -0.2pt"><B><I>Enforceability of Civil
Liabilities</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="letter-spacing: 0.2pt">We have
been advised by our Cayman Islands legal counsel, Maples and Calder (Cayman) LLP, that the courts of the Cayman Islands are unlikely (i)&nbsp;to
recognize or enforce against us judgments of courts of the United States predicated upon the civil liability provisions of the securities
laws of the United States or any State; and (ii)&nbsp;in original actions brought in the Cayman Islands, to impose liabilities against
us predicated upon the civil liability provisions of the securities laws of the United States or any State, so far as the liabilities
imposed by those provisions are penal in nature. In those circumstances, although there is no statutory enforcement in the Cayman Islands
of judgments obtained in the United States, the courts of the Cayman Islands will recognize and enforce a foreign money judgment of a
foreign court of competent jurisdiction without retrial on the merits based on the principle that a judgment of a competent foreign court
imposes upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met. For
a foreign judgment to be enforced in the Cayman Islands, such judgment must be final and conclusive and for a liquidated sum, and must
not be in respect of taxes or a fine or penalty, inconsistent with a Cayman Islands judgment in respect of the same matter, impeachable
on the grounds of fraud or obtained in a manner, and or be of a kind the enforcement of which is, contrary to natural justice or the public
policy of the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to public policy). A Cayman Islands
Court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="letter-spacing: -0.2pt"><B><I>Anti-Money Laundering</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="letter-spacing: 0.2pt">If any person
in the Cayman Islands knows or suspects or has reasonable grounds for knowing or suspecting that another person is engaged in criminal
conduct or money laundering or is involved with terrorism or terrorist financing and property and the information for that knowledge or
suspicion came to their attention in the course of business in the regulated sector, or other trade, profession, business or employment,
the person will be required to report such knowledge or suspicion to (i)&nbsp;the Financial Reporting Authority of the Cayman Islands,
pursuant to the Proceeds of Crime Act (As Revised) of the Cayman Islands, if the disclosure relates to criminal conduct or money laundering,
or (ii)&nbsp;a police officer of the rank of constable or higher, or the Financial Reporting Authority, pursuant to the Terrorism Act
(As Revised) of the Cayman Islands, if the disclosure relates to involvement with terrorism or terrorist financing and property. Such
a report shall not be treated as a breach of confidence or of any restriction upon the disclosure of information imposed by any enactment
or otherwise.</FONT></P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="letter-spacing: -0.2pt"><B>Brazil</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="letter-spacing: 0.2pt">Most of
our assets are located outside the United States, in Brazil. In addition, all of the members of our board of directors and board of executive
officers are nationals or residents of Brazil or non-U.S. residents and all or a substantial portion of their assets are located outside
the United States. As a result, it may be difficult for you to effect service of process within the United States upon us or these persons,
or to enforce against us or them judgments obtained in United States courts, including judgments predicated upon the civil liability provisions
of the securities laws of the United States or any state in the United States.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="letter-spacing: 0.2pt">A judgment
of a United States court for civil liabilities predicated upon the federal securities laws of the United States may be enforced in Brazil,
subject to certain requirements described below. Such counsel has advised that a judgment against us, the members of our board of directors
or our executive officers obtained in the United States would be enforceable in Brazil without retrial or re-examination of the merits
of the original action including, without limitation, any final judgment for payment of a certain amount rendered by any such court, provided
that such judgment has been previously recognized by the Brazilian Superior Tribunal of Justice (<I>Superior Tribunal de Justi&ccedil;a</I>),
or STJ. That recognition will only be available, pursuant to Articles 963 and 964 of the Brazilian Code of Civil Procedure (<I>C&oacute;digo
de Processo Civil</I>, Law No. 13,105, dated March 16, 2015, as amended), if the U.S. judgment:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; letter-spacing: 0.2pt">&middot;</FONT></TD><TD><FONT STYLE="letter-spacing: 0.2pt">complies with all formalities required for its enforceability, including issuance by a competent
court and/or authority, after proper service of process on the parties is made in accordance with applicable law, considering that service
of process on individuals in Brazil must comply with applicable Brazilian law, or after sufficient evidence of the parties&#8217; absence
(<I>revelia</I>) has been given, in accordance with the applicable law of the jurisdiction where the foreign judgment was issued;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; letter-spacing: 0.2pt">&middot;</FONT></TD><TD><FONT STYLE="letter-spacing: 0.2pt">is not rendered in an action upon which Brazilian courts have exclusive jurisdiction, pursuant
to the provisions of art. 23 of the Brazilian Code of Civil Procedure (Law No. 13,105/2015, as amended);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; letter-spacing: 0.2pt">&middot;</FONT></TD><TD><FONT STYLE="letter-spacing: 0.2pt">is final binding and therefore not subject to appeal in the jurisdiction in which it was issued
(<I>res judicata</I>);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; letter-spacing: 0.2pt">&middot;</FONT></TD><TD><FONT STYLE="letter-spacing: 0.2pt">it is not contrary to a final and binding award issued by Brazilian courts in the case records
of a lawsuit that involves the same parties, cause of action;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; letter-spacing: 0.2pt">&middot;</FONT></TD><TD><FONT STYLE="letter-spacing: 0.2pt">creates no conflict between the United States judgment and a previous final and binding (<I>res
judicata</I>) judgment on the same matter and involving the same parties issued in Brazil;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; letter-spacing: 0.2pt">&middot;</FONT></TD><TD><FONT STYLE="letter-spacing: 0.2pt">is duly apostilled by a competent authority of the United States, according to the Hague Convention
Abolishing the Requirement of Legalization for Foreign Public Documents dated as of October 5, 1961 authentication, or the Hague Convention.
If such decision emanates from a country that is not a signatory of the Hague Convention, it must be duly authenticated by a Brazilian
Diplomatic Office or Consulate;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; letter-spacing: 0.2pt">&middot;</FONT></TD><TD><FONT STYLE="letter-spacing: 0.2pt">is accompanied by a sworn translation into Brazilian Portuguese made by a certified translator
in Brazil, unless an exemption is provided by an international treaty to which Brazil is a signatory; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; letter-spacing: 0.2pt">&middot;</FONT></TD><TD><FONT STYLE="letter-spacing: 0.2pt">is not contrary to Brazilian national sovereignty, good morals or public policy and does not violate
the dignity of the human person, as set forth in Brazilian law.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="letter-spacing: 0.2pt">&#8203;The
judicial recognition process may be time-consuming and may also give rise to difficulties in enforcing such foreign judgment in Brazil.
Accordingly, we cannot assure you that judicial recognition of a foreign judgment would be successful, that the judicial recognition process
would be conducted in a timely manner or that a Brazilian court would enforce a judgment of countries other than Brazil.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="letter-spacing: 0.2pt">We believe
original actions may be brought in connection with this initial public offering predicated on the federal securities laws of the United
States in Brazilian courts and that, subject to applicable law, Brazilian courts may enforce liabilities in such actions against us or
the members of our board of directors or our executive officers and certain advisors named herein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="letter-spacing: 0.2pt">In addition,
a plaintiff, whether Brazilian or non-Brazilian, who resides outside Brazil or is outside Brazil during the course of litigation in Brazil
and who does not own real property in Brazil must post a bond to guarantee the payment of the defendant&#8217;s legal fees and court
expenses in connection with court procedures for the collection of money according to Article 83 of the Brazilian Code of Civil Procedure
(C&oacute;digo de Processo Civil). This bond must have a value sufficient to satisfy the payment of court fees and defendant&#8217;s
attorneys&#8217; fees, as determined by the Brazilian judge based on the amount under dispute. This is so except in the case of: (1)
claims for collection on a t&iacute;tulo executivo extrajudicial (an instrument which may be enforced in Brazilian courts without a review
on the merits), or (2) in the case of an enforcement of a judgment, including foreign judgments that have been duly recognized by the
STJ; (3) counterclaims as established; and (4) when an exemption is provided by an international agreement or treaty to which Brazil
is a signatory.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="letter-spacing: 0.2pt">If proceedings
are brought in Brazilian courts seeking to enforce our obligations with respect to our Class A common shares, payment shall be made in
reais. Any judgment rendered in Brazilian courts in respect of any payment obligations with respect to our Class&nbsp;A common shares
would be expressed in&nbsp;<I>reais</I>. See &#8220;Risk Factors&#8201;&#8212;&#8201;Risks Relating to Our Class&nbsp;A Common Shares
and the Offering&#8201;&#8212;&#8201;Judgments of Brazilian courts to enforce our obligations with respect to our Class&nbsp;A common
shares may be payable only in reais. The exchange rate in force at the time may not offer non-Brazilian investors full compensation for
any claim arising from our obligations.&#8221;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="letter-spacing: 0.2pt">We have
also been advised that the ability of a judgment creditor to satisfy a judgment by attaching certain assets of the defendant in Brazil
is governed and limited by provisions of Brazilian law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="letter-spacing: 0.2pt">Notwithstanding
the foregoing, we cannot assure you that confirmation of any judgment will be obtained, or that the process described above can be conducted
in a timely manner.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="letter-spacing: -0.2pt"><B>Agent for Service of Process</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="letter-spacing: 0.2pt">We have
appointed Cogency Global Inc. as our agent to receive service of process with respect to any action brought against us in the United States
under U.S. federal or state securities laws arising out of or in connection with this offering. The address of Cogency Global Inc. is
122 East 42nd Street, 18th Floor, New York, New York 10168.</FONT><FONT STYLE="color: red"><BR STYLE="clear: both">
</FONT></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><FONT STYLE="text-decoration: none; text-transform: uppercase"><A HREF="#toc" STYLE="text-decoration: none; font-variant: normal; text-transform: uppercase; vertical-align: baseline">Table of Contents</A></FONT></TD><TD STYLE="width: 50%; text-align: right"></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_019"></A>WHERE YOU CAN
FIND MORE INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We have filed a registration statement with
the SEC on Form F-3 under the Securities Act relating to the securities offered by this prospectus. This prospectus, which is a part of
that registration statement, does not contain all of the information set forth in the registration statement. For more information with
respect to us and the securities offered by this prospectus, you should refer to the registration statement and to the exhibits filed
with it. Statements contained or incorporated by reference in this prospectus regarding the contents of any contract or other document
are not necessarily complete, and, where the contract or other document is an exhibit to the registration statement or incorporated or
deemed to be incorporated by reference, each of these statements is qualified in all respects by the provisions of the actual contract
or other document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We are subject to the information requirements
of the Exchange Act, applicable to a foreign private issuer, and accordingly file or furnish reports, including annual reports on Form
20-F, reports on Form 6-K and other information with the SEC. The SEC maintains a website that contains reports and information statements
and other information about issuers, such as us, who file electronically with the SEC. The address of that website is www.sec.gov.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We also maintain a website at https://investors.zenvia.com/
through which you can access our SEC filings. The information contained on, or that can be accessed through, our website is not a part
of this prospectus.<BR STYLE="clear: both">
</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><FONT STYLE="text-decoration: none; text-transform: uppercase"><A HREF="#toc" STYLE="text-decoration: none; font-variant: normal; text-transform: uppercase; vertical-align: baseline">Table of Contents</A></FONT></TD><TD STYLE="width: 50%; text-align: right"></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="a_020"></A>INCORPORATION
OF DOCUMENTS BY REFERENCE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The SEC allows us to &#8220;incorporate by reference&#8221;
information that we file with them. Incorporation by reference allows us to disclose important information to you by referring you to
those other documents. The information incorporated by reference is an important part of this prospectus, and information that we file
later with the SEC will automatically update and supersede the information included in this prospectus or previously incorporated by reference
into this prospectus. We filed a registration statement on Form F-3 under the Securities Act, with the SEC with respect to the securities
we may offer pursuant to this prospectus. This prospectus omits certain information contained in the registration statement, as permitted
by the SEC. You should refer to the registration statement, including the exhibits, for further information about us and the securities
we may offer pursuant to this prospectus. Statements in this prospectus regarding the provisions of certain documents filed with, or incorporated
by reference in, the registration statement are not necessarily complete and each statement is qualified in all respects by that reference.
Copies of all or any part of the registration statement, including the documents incorporated by reference or the exhibits, may be obtained
upon payment of the prescribed rates at the offices of the SEC listed above in &#8220;Where You Can Find More Information.&#8221; We incorporate
by reference the following documents and any future filings that we make with the SEC under Sections 13(a), 13(c) and 15(d) of the Securities
Exchange Act of 1934, as amended, until we complete the offerings using this prospectus:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Our annual report on Form 20-F for the fiscal year ended December 31, 2023, filed with the SEC on May 15, 2024;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The description of our Class A common shares contained in our registration statement on Form 8-A filed with the SEC on July 19, 2021,
including any amendments or reports filed for the purpose of updating such description; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>All subsequent annual reports on Form 20-F that we file with the SEC;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Certain reports on Form 6-K that we furnish to the SEC after the date of this prospectus (if they state that they are incorporated
by reference into the registration statement of which this prospectus forms a part) prior to the termination of this offering. We are
also incorporating by reference any reports on Form 6-K submitted to the SEC by us pursuant to the Exchange Act after the date of the
initial registration statement and prior to effectiveness of the registration statement that we specifically identify in such forms as
being incorporated by reference into the registration statement of which this prospectus forms a part.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In all cases, you should rely on the later information
over different information included in this prospectus or any accompanying prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Unless expressly incorporated by reference,
nothing in this prospectus shall be deemed to incorporate by reference information furnished to, but not filed with, the SEC. Copies of
all documents incorporated by reference in this prospectus, other than exhibits to those documents unless such exhibits are specifically
incorporated by reference in this prospectus, will be provided at no cost to each person, including any beneficial owner, who receives
a copy of this prospectus on the written or oral request of that person made to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Avenida Paulista, 2300, 18th Floor<BR>
S&atilde;o Paulo, S&atilde;o Paulo, CEP 01310-300<BR>
Brazil<BR>
+55 (11) 99904-5082</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">You may also access these documents on our website
at https://investors.zenvia.com/. The information contained on, or that can be accessed through, our website is not a part of this prospectus.
We have included our website address in this prospectus solely as an inactive textual reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in">You should rely only on information contained
in, or incorporated by reference into, this prospectus. We have not authorized anyone to provide you with information different from
that contained in this prospectus or incorporated by reference in this prospectus. We are not making offers to sell the securities in
any jurisdiction in which such an offer or solicitation is not authorized or in which the person making such offer or solicitation is
not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>&nbsp;</B></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"><B>&nbsp;</B></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><FONT STYLE="text-decoration: none; text-transform: uppercase"><A HREF="#toc" STYLE="text-decoration: none; font-variant: normal; text-transform: uppercase; vertical-align: baseline">Table of Contents</A></FONT></TD><TD STYLE="width: 50%; text-align: right"></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">US$20,000,000</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Class A Common Shares</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><IMG SRC="zenv20240715424b5_002.jpg" ALT="" STYLE="height: 54px; width: 244px"></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 1pt 2.6in"><DIV STYLE="font-size: 1pt; border-top: Black 0.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><B>Prospectus Supplement</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><B>&nbsp;</B></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 1pt 2.6in"><DIV STYLE="font-size: 1pt; border-top: Black 0.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">July 16, 2024</P>







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