Fundamentals and Spreadsheets 3Q21

November 10, 2021 at 04:15 am EST

Planilha de Fundamentos

Indicators - Quaterly

Main Indicators Quarterly	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Financial Indicators	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Gross Revenues (R$ '000)	62,667	74,741	75,554	81,474	76,912	90,095	95,632	106,862	102,506	108,702	119,612	131,813	115,464	122,038	125,957	156,248	145,102	159,223	165,590	187,149	165,606	175,716	177,761	196,600	180,418	188,954	186,755	213,043	192,548	196,793	197,835	218,292	192,285	201,163	202,173	230,522	197,009	214,042	209,459	241,018	204,843	159,989	179,263	228,136	196,122	228,158	255,238
Net Revenues (R$ '000)	56,317	66,700	67,609	72,953	68,887	80,647	84,757	95,231	90,664	97,074	104,306	118,477	102,498	108,116	113,054	140,082	131,208	143,838	147,945	166,583	148,822	156,610	159,622	172,141	160,487	162,811	161,097	183,752	167,349	169,413	169,690	185,704	168,470	175,011	177,553	200,492	172,993	187,674	182,378	211,225	156,795	160,914	182,131	184,403	169,390	170,302	212,194
EBITDA (R$ '000)	35,138	49,673	55,310	44,757	41,299	57,731	65,067	70,888	60,929	82,375	165,126	97,332	82,025	71,265	77,678	116,821	98,526	100,175	112,450	143,183	102,673	122,366	134,730	144,034	129,024	121,587	127,925	142,760	125,764	130,472	133,842	150,480	125,779	132,514	141,193	159,038	129,413	137,672	168,518	200,192	102,912	114,930	134,069	162,242	101,440	108,905	153,522
EBITDA Margin	62.4%	74.5%	81.8%	61.4%	60.0%	71.6%	76.8%	74.4%	67.2%	84.9%	158.3%	82.2%	80.0%	65.9%	68.7%	83.4%	75.1%	69.6%	76.0%	86.0%	69.0%	78.1%	84.4%	83.7%	80.4%	74.7%	79.4%	77.7%	75.2%	77.0%	78.9%	81.0%	74.7%	75.7%	79.5%	79.3%	74.8%	73.4%	92.4%	94.8%	65.6%	71.4%	73.6%	88.0%	59.9%	63.9%	72.3%
Net Profit	27,205	37,711	42,880	43,751	31,488	42,979	30,717	46,772	32,214	54,048	128,950	53,096	47,338	35,544	44,963	56,440	48,135	50,134	67,082	65,359	45,128	47,900	58,442	42,186	38,712	35,088	40,623	49,772	50,619	50,975	53,061	66,648	58,104	60,567	65,578	76,077	55,453	60,112	86,915	111,821	12,453	46,289	61,566	82,016	39,840	279,008	-57,957
Net Margin	48.3%	56.5%	63.4%	60.0%	45.7%	53.3%	36.2%	49.1%	35.5%	55.7%	123.6%	44.8%	46.2%	32.9%	39.8%	40.3%	36.7%	34.9%	45.3%	39.2%	30.3%	30.6%	36.6%	24.5%	24.1%	21.6%	25.2%	27.1%	30.2%	30.1%	31.3%	34.6%	34.5%	34.6%	36.9%	37.9%	32.1%	32.0%	47.7%	52.9%	7.9%	28.8%	33.8%	44.5%	23.5%	163.8%	-27.3%
FFO (R$ mil)	31,619	43,248	48,089	49,026	36,544	48,989	37,240	54,914	40,571	63,557	140,158	64,690	59,230	47,601	58,223	73,319	66,709	71,958	90,262	89,215	69,463	73,084	84,360	69,493	66,559	62,311	67,374	76,272	77,098	77,356	79,804	88,517	85,173	87,841	93,046	103,907	86,557	91,636	118,863	145,267	49,458	83,570	98,075	120,221	76,984	317,735	-18,278
FFO Margin	56.1%	64.8%	71.1%	67.2%	53.0%	60.7%	43.9%	57.6%	44.7%	65.5%	134.4%	54.6%	57.8%	44.0%	51.5%	52.3%	50.8%	50.0%	61.0%	53.6%	46.7%	46.7%	52.9%	40.4%	41.5%	38.3%	41.8%	41.5%	46.1%	45.7%	47.0%	47.7%	50.6%	50.2%	52.4%	51.8%	50.0%	48.8%	65.2%	68.8%	31.5%	51.9%	53.8%	65.2%	45.4%	186.6%	-8.6%
Performance Indicators	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Total GLA (sqm)	398,135	431,695	433,175	432,545	431,315	469,218	468,841	473,804	473,804	509,097	490,874	490,874	490,874	491,649	555,836	613.010	613,577	660,500	660,500	660,500	660,500	679,671	714,959	714,959	714,959	746,027	746,027	746,027	746,027	746,027	746,027	746,027	737,466	737,467	737,467	757,355	758,336	758,336	728,012	709,989	710,574	710,510	710,569	710,895	711,192	708,486	709,108
Owned GLA (sqm)	215,096	237,004	237,678	237,429	238,291	265,644	267,911	277,647	277,647	295,294	280,942	282,040	282,040	283,378	340,393	379,805	380,221	425,163	425,163	425,282	425,282	438,702	440,423	443,273	443,419	454,604	454,604	454,604	454,604	454,604	454,620	454,625	447,783	447,808	447,813	458,567	459,101	459,101	456,554	452,934	470,703	470,663	470,692	470,928	471,003	468,859	469,275
Average Owned GLA (sqm)	-	207,924	208,598	237,429	-	225,694	266,778	272,779	277,647	285,203	288,118	281,491	282,040	282,721	302,383	353,530	380,221	423,526	425,163	425,282	425,282	434,229	435,376	437,276	437,373	452,037	454,603	454,603	454,604	454,604	454,615	454,625	447,783	447,808	447,813	451,397	459,101	459,101	457,403	452,934	465,799	470,663	470,692	470,928	471,003	468,859	469,275
Total GLA, malls (sqm)	369,055	402,615	404,095	403,465	402,235	435,263	435,292	440,255	440,255	465,548	456,919	456,919	456,919	458,100	522,287	579,461	580,028	626,951	626,951	626,951	626,951	646,122	681,410	681,410	681,410	701,786	701,786	701,786	701,786	701,786	701,786	701,786	698,595	698,596	698,596	718,484	719,465	719,465	689,141	671,118	671,703	671,639	671,698	671,909	672,212	669,690	670,313
Owned GLA, malls (sqm)	186,016	207,924	208,598	208,349	209,211	234,097	236,569	245,993	245,993	258,639	249,395	249,395	250,379	251,717	308,732	348,144	345,862	393,501	393,501	393,501	393,610	407,030	408,745	411,595	411,728	419,065	419,065	419,065	419,065	419,065	419,079	419,084	415,490	415,514	415,519	426,273	426,808	426,808	424,261	420,641	437,734	437,694	437,722	437,844	437,923	435,858	436,274
Number of malls(1)	11	12	12	12	12	13	13	13	13	14	13	13	13	13	15	16	16	16	16	16	16	16	17	17	17	17	17	17	17	17	17	17	17	17	17	18	18	18	17	16	16	16	16	16	16	16	16
Total sales (R$ '000)	1,273,080	1,495,135	1,500,665	1,990,692	1,507,656	1,787,864	1,746,690	2,321,075	1,775,184	1,897,797	1,980,254	2,553,032	1,965,689	2,149,038	2,168,132	2,932,228	2,254,453	2,520,032	2,468,993	3,299,857	2,486,165	2,724,639	2,846,453	3,793,593	2,835,874	3,085,263	2,901,263	3,896,858	2,910,196	3,248,348	3,097,345	4,018,835	2,973,200	3,252,406	3,245,306	4,219,624	3,134,792	3,508,229	3,324,207	4,250,372	2,633,733	603,633	1,820,455	3,639,344	1,885,292	2,742,934	3,326,673
Same-stores sales (SSS)	11.3%	8.5%	9.6%	6.9%	5.4%	10.4%	7.5%	8.4%	8.1%	7.3%	8.9%	8.0%	8.0%	6.8%	8.1%	8.1%	7.4%	8.2%	6.9%	8.1%	7.2%	6.0%	4.6%	4.2%	1.8%	3.0%	1.0%	0.0%	1.7%	4.1%	5.9%	2.5%	1.1%	-1.9%	2.9%	3.4%	3.1%	6.9%	3.1%	5.7%	-12.9%	-70.6%	-37.5%	-11.8%	-25.6%	223.0%	7.8%
Same-area sales (SAS)	11.4%	10.4%	11.4%	9.5%	8.1%	13.6%	11.4%	10.2%	10.9%	7.5%	9.1%	8.1%	8.4%	7.3%	8.2%	9.9%	7.6%	8.3%	7.1%	8.2%	7.3%	6.2%	4.7%	5.2%	4.0%	3.2%	2.4%	0.2%	1.6%	5.1%	6.8%	3.1%	2.2%	0.1%	4.8%	5.0%	4.5%	7.2%	4.2%	7.4%	-9.6%	-81.6%	-42.9%	-14.4%	-28.4%	354.4%	4.4%
Same-store rentals (SSR)	6.3%	6.3%	7.9%	7.9%	7.2%	11.6%	10.0%	9.0%	10.1%	8.1%	8.1%	8.8%	14.1%	8.8%	8.4%	10.9%	9.2%	9.1%	8.6%	8.7%	8.1%	6.8%	5.5%	6.9%	6.5%	6.4%	7.4%	6.5%	7.3%	6.3%	5.8%	4.4%	2.8%	1.8%	1.8%	4.3%	6.4%	10.0%	8.8%	5.2%	-26.5%	-79.1%	-28.5%	-3.3%	-4.2%	410.9%	22.9%
Same-area rentals (SAR)	6.4%	6.4%	7.3%	9.1%	7.0%	12.9%	11.3%	9.6%	11.4%	8.1%	9.0%	9.4%	14.5%	9.3%	8.5%	11.4%	10.8%	9.3%	8.8%	8.9%	8.1%	6.8%	5.4%	7.1%	7.4%	6.1%	6.4%	6.2%	6.9%	6.6%	6.1%	4.1%	4.3%	5.7%	5.3%	4.7%	4.6%	7.4%	6.2%	4.6%	-27.1%	-79.8%	-32.8%	-10.1%	-12.8%	367.6%	11.9%
Occupancy cost (% of sales)	12.0%	11.3%	11.3%	10.7%	12.2%	11.2%	10.6%	10.1%	11.6%	10.6%	10.7%	10.6%	11.6%	10.7%	10.8%	10.8%	12.4%	11.6%	11.9%	11.0%	12.8%	11.6%	12.1%	11.0%	12.7%	11.7%	12.5%	11.5%	12.7%	11.5%	12.0%	11.2%	13.0%	11.8%	12.0%	11.4%	12.6%	11.7%	11.9%	11.0%	11.5%	22.5%	14.4%	13.0%	16.8%	12.8%	12.3%
Occupancy rate	97.2%	97.2%	97.9%	97.1%	96.7%	96.6%	96.8%	96.9%	96.6%	96.1%	96.1%	96.1%	95.4%	95.8%	96.7%	95.5%	95.0%	95.2%	95.1%	95.3%	96.0%	95.0%	94.1%	94.0%	94.0%	93.8%	93.3%	93.4%	93.0%	93.1%	93.3%	94.2%	94.7%	94.6%	94.4%	94.6%	93.7%	92.1%	92.4%	94.0%	94.1%	93.6%	91.6%	91.0%	90.3%	90.1%	90.7%
Net delinquency rate	3.7%	3.7%	4.1%	1.9%	3.1%	3.3%	2.2%	2.6%	2.5%	1.2%	1.2%	0.9%	1.6%	1.0%	1.4%	1.4%	2.0%	1.7%	1.0%	1.8%	2.6%	1.7%	2.4%	1.1%	3.7%	3.0%	1.1%	0.2%	3.7%	1.2%	1.5%	0.2%	4.0%	1.6%	0.7%	1.3%	2.9%	0.6%	0.4%	-0.8%	3.7%	-26.2%	13.4%	9.3%	11.3%	-4.0%	2.1%
(1) Considers Iguatemi Esplanada and Esplanada Shopping as one asset

Indicators - Annual

Main Indicators Annual	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
Financial Indicators	2010	2011	2012 (2)	2013	2014	2015	2016	2017	2018	2019	2020
Gross Revenues (R$ '000)	294,436	369,502	462,633	519,707	657,064	715,683	769,170	805,468	826,143	861,528	772,231
Net Revenues (R$ '000)	263,579	329,522	410,521	463,750	589,604	637,195	668,147	692,156	721,526	754,270	684,243
EBITDA (R$ '000)	184,880	235,024	405,761	347,789	454,333	503,805	521,296	540,558	558,524	635,795	514,153
Margem EBITDA	70.1%	71.3%	72.5%	75.0%	77.1%	79.1%	78.0%	78.1%	77.4%	84.3%	75.1%
Net Profit (R$ '000)	151,547	151,995	268,308	184,285	230,709	193,657	164,195	221,303	260,326	314,301	202,324
Net Margin	57.5%	46.1%	65.4%	39.7%	39.1%	30.4%	24.6%	32.0%	36.1%	41.7%	29.6%
FFO (R$ '000)	171,984	177,726	308,975	238,373	318,144	296,402	272,516	327,635	369,967	442,323	351,324
FFO Margin	65.2%	53.9%	75.3%	51.4%	54.0%	46.5%	40.8%	47.3%	51.3%	58.6%	51.3%
Performance Indicators	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
Total GLA (sqm)	432,545	473,804	490,874	613.010	660,500	714,959	746,027	746,027	757,355	709,989	710,895
Owned GLA (sqm)	237,429	277,647	282,040	379,805	425,282	443,273	454,604	454,625	458,567	452,934	470,928
Average Owned GLA (sqm)	224,503	257,538	281,491	321,404	413,518	431,279	451,166	454,612	448,700	457,135	469,521
Total GLA, malls (sqm)	403,465	440,255	456,919	579,461	626,951	681,410	701,786	701,786	718,484	671,118	671,909
Owned GLA, malls (sqm)	208,249	245,993	249,395	348,144	393,501	411,595	419,065	419,084	426,273	420,641	437,844
Number of malls (1)	12	13	13	15	16	17	17	17	18	16	16
Total sales (R$ '000)	6,259,572	7,363,285	8,115,637	9,128,208	10,544,580	11,850,850	12,719,258	13,272,439	13,690,536	14,217,600	8,697,166
Same-stores sales (SSS)	8.7%	7.1%	7.9%	7.8%	7.8%	5.5%	1.1%	3.5%	1.5%	4.8%	-28.1%
Same-area sales (SAS)	10.2%	9.5%	8.1%	7.8%	8.0%	5.8%	2.0%	4.9%	3.2%	6.1%	-36.2%
Same-store rentals (SSR)	6.7%	8.3%	9.7%	10.5%	9.1%	6.8%	6.4%	5.8%	2.7%	7.3%	-24.5%
Same-area rentals (SAR)	7.3%	8.8%	9.8%	10.8%	9.3%	6.8%	6.9%	5.9%	4.4%	5.7%	-28.5%
Occupancy cost (% of sales)	11.3%	10.5%	10.7%	11.3%	11.6%	11.6%	12.0%	12.1%	12.0%	11.7%	13.5%
Occupancy rate	97.1%	97.0%	96.1%	96.3%	95.2%	94.6%	93.5%	93.6%	94.6%	93.0%	93.1%
Net delinquency rate	1.9%	2.2%	1.6%	1.4%	1.7%	2.0%	2.8%	1.8%	2.0%	0.8%	5.8%
(1) Considers Esplanada Shopping and Iguatemi Esplanada as a single asset.
(2) Ebitda and Ebitda margin adjusted by the sale of Shopping Boulevard Rio Iguatemi would be R$ 297.556 thousand and 72.5%, respectively.

Portfolio

Iguatemi Portfolio	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q184	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Dec-99
Total GLA	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Iguatemi São Paulo	39,879	39,879	40,230	40,213	40,303	42,725	42,522	42,104	42,104	42,104	42,104	42,104	42,104	46,608	46,608	46,608	46,134	46,134	46,134	46,134	46,134	46,134	47,322	47,322	47,322	47,322	47,322	47,322	47,322	47,322	47,322	47,322	48,888	48,888	48,888	48,888	49,061	49,061	49,061	49,263	49,329	49,260	49,279	49,260	49,260	49,260	49,257
JK Iguatemi	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	35,293	35,293	35,293	35,293	35,293	35,293	35,293	34,957	34,957	34,957	34,957	34,957	34,957	34,957	34,957	34,957	34,957	34,957	34,957	34,957	34,957	34,957	34,957	34,359	34,359	34,359	34,359	34,359	34,359	34,359	34,358	34,358	34,358	34,358	34,357	34,357	34,107	34,107
Pátio Higienópolis	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	34,100	34,100	34,100	34,100	34,100	34,100	34,100	34,100	34,100	34,100	33,819	33,820	33,820	33,820	33,819	33,819	33,819	33,365	33,363	33,367	33,367	33,459	33,464	33,490	33,479
Market Place	26,126	26,252	26,236	26,023	26,017	26,017	26,848	26,927	26,927	26,927	26,927	26,927	26,927	26,927	26,927	26,927	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,548	26,548	26,548	26,548	26,713	26,713	26,713	26,881	26,882	26,882	26,882	26,882	26,772	26,553	26,553
Iguatemi Alphaville	-	-	-	-	30,178	30,178	30,551	30,822	30,822	30,822	30,822	30,822	30,822	30,822	30,822	30,822	31,312	31,312	31,312	31,312	31,312	31,312	31,312	31,312	31,312	31,312	31,312	31,312	31,312	31,312	31,312	31,312	31,258	31,258	31,258	31,258	31,250	31,250	31,250	31,133	31,147	31,147	31,147	31,147	31,147	31,147	30,998
Iguatemi Campinas	54,887	55,057	55,057	55,105	55,105	55,386	54,031	54,075	54,075	54,075	54,075	54,075	54,075	54,075	54,075	54,075	54,321	54,321	54,321	54,321	54,321	73,492	73,492	73,492	73,492	73,492	73,492	73,492	73,492	73,492	73,492	73,492	72,659	72,659	72,659	72,659	72,726	72,726	72,726	72,725	72,725	72,725	72,725	72,725	72,737	72,726	73,394
Galleria	24,014	24,014	24,074	24,056	23,983	23,941	24,251	25,736	25,736	25,736	33,236	33,236	33,236	33,236	33,236	33,236	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,263	33,263	33,263	33,263	33,245	33,245	33,245	33,249	33,142	33,142	33,142	33,141	33,141	33,141	33,141
Iguatemi Esplanada (1)	27,663	27,663	27,663	27,663	27,663	27,663	27,663	27,663	27,663	27,663	27,663	27,663	27,663	24,340	24,340	63,890	64,360	64,360	64,360	64,360	64,360	64,360	64,360	64,360	64,360	64,360	64,360	64,360	64,360	64,360	64,360	64,360	64,482	64,482	64,482	64,482	64,714	64,714	64,714	64,807	64,809	64,809	64,809	64,809	64,809	64,809	64,807
Iguatemi Esplanada - propietary area (2)	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678
Iguatemi São Carlos	19,046	19,046	19,046	19,022	19,020	19,020	19,020	19,035	19,035	19,035	19,035	19,035	19,035	19,035	19,035	19,035	19,049	22,323	22,323	22,323	22,323	22,323	22,323	22,323	22,323	22,323	22,323	22,323	22,323	22,323	22,323	22,323	22,331	22,331	22,331	22,331	22,331	22,331	22,331	22,334	22,334	22,334	22,334	22,334	22,334	22,334	22,334
Iguatemi Ribeirão Preto	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	44,100	44,100	43,648	43,648	43,648	43,648	43,648	43,648	43,648	43,648	43,648	43,648	43,648	43,648	43,648	43,648	43,648	43,648	40,543	40,543	40,543	40,543	40,492	40,492	40,492	43,325	43,288	43,288	43,288	43,430	43,428	43,329	43,329
Iguatemi Rio Preto	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	43,649	43,649	43,649	43,649	43,649	43,649	43,649	43,649	43,649	43,649	43,649	43,649	43,649	43,649	43,649	43,546	43,546	43,546	43,546	43,549	43,549	43,549	43,550	43,550	43,550	43,550	43,550	43,550	43,550	43,550
Iguatemi Porto Alegre	39,331	39,334	39,320	39,310	39,310	39,307	39,307	39,306	39,306	39,306	39,306	39,306	39,306	39,306	39,306	39,306	38,926	38,926	38,926	38,926	38,926	38,926	38,926	38,926	38,926	59,302	59,302	59,302	59,302	59,302	59,302	59,302	63,366	63,366	63,366	63,366	63,366	63,366	63,366	64,253	64,253	64,253	64,292	64,292	64,634	64,807	64,807
Praia de Belas	28,066	28,011	29,109	28,694	28,695	28,866	28,873	30,081	30,081	30,081	30,081	30,081	30,081	30,081	30,081	47,705	47,205	47,205	47,205	47,205	47,205	47,205	47,205	47,205	47,205	47,205	47,205	47,205	47,205	47,205	47,205	47,205	44,367	44,367	44,367	44,367	44,779	44,779	44,779	44,667	44,683	44,683	44,683	44,683	44,668	44,675	44,793
Iguatemi Florianópolis	20,230	20,178	20,178	20,197	20,180	20,180	20,246	20,487	20,487	20,487	20,487	20,487	20,487	20,487	20,487	20,487	21,189	21,189	21,189	21,189	21,189	21,189	21,189	21,189	21,189	21,189	21,189	21,189	21,189	21,189	21,189	21,189	21,109	21,109	21,109	21,109	21,109	21,109	21,109	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Iguatemi Caxias	30,982	30,324	30,324	30,324	29,101	29,101	29,101	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	30,324	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Iguatemi Brasília	33,800	33,800	33,800	33,800	33,800	33,800	33,800	31,822	31,822	31,822	31,822	31,822	31,822	31,822	31,822	31,822	32,302	32,302	32,302	32,302	32,302	32,302	32,302	32,302	32,302	32,302	32,302	32,302	32,302	32,302	32,302	32,302	34,148	34,148	34,148	34,148	34,154	34,154	34,154	33,812	34,446	34,446	34,446	34,447	34,517	34,658	34,658
I Fashion Outlet Novo Hamburgo	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	20,087	20,087	20,115	20,115	20,115	20,115	20,115	20,115	20,115	20,115	20,115	20,115	20,115	20,115	20,115	20,115	20,115	20,115	20,085	20,085	20,085	20,085	20,085	20,085	20,085	20,056	20,056	20,056	20,056	20,056	20,056	20,056	20,057
I Fashion Outlet Santa Catarina	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	19,888	19,888	19,888	19,888	19,838	19,838	19,838	19,838	19,836	19,836	19,836	19,836
Power Center Iguatemi Campinas (4)	29,176	29,176	29,176	29,176	29,176	29,176	29,176	32,066	32,066	32,066	32,066	32,066	32,066	32,066	32,066	32,066	32,422	32,422	32,422	32,422	32,422	32,422	32,422	32,422	32,422	32,422	32,422	32,422	32,422	32,422	32,422	32,422	29,822	29,822	29,822	29,822	29,822	29,822	29,822	29,822	29,822	29,822	29,822	29,822	29,822	27,534	27,534
Boulevard Iguatemi Rio	25,976	26,203	26,203	26,203	26,203	26,225	26,225	26,129	26,129	26,129	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	-	- 0	- 0	-	-	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Subtotal Shoppings	376,878	376,412	377,891	377,261	406,209	409,038	409,067	414,126	414,126	449,419	456,919	456,919	456,919	458,100	522,287	579,461	580,028	626,951	626,951	626,951	626,951	646,122	681,410	681,410	681,410	701,786	701,786	701,786	701,786	701,786	701,786	701,786	698,595	698,596	698,596	718,484	719,465	719,465	689,141	671,118	671,703	671,639	671,698	671,909	672,212	669,690	670,313
Market Place Torre I	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,274	15,274	15,274	15,274	15,274	15,274	15,274	15,274	15,274	15,274	15,274	15,315	15,315	15,315	15,315
Market Place Torre II	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,319	13,319	13,319	13,319	13,319	13,319	13,319	13,319	13,319	13,319	13,319	13,394	13,389	13,389	13,389
Torre Iguatemi Porto Alegre	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	10,692	10,692	10,692	10,692	10,692	10,692	10,692	10,278	10,278	10,278	10,278	10,278	10,278	10,278	10,278	10,278	10,278	10,278	10,276	10,276	10,092	10,092
Torre Iguatemi São Paulo	- 0	- 0	- 0	- 0	- 0	4,875	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	4,469	- 0	-	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Subtotal Towers	29,080	29,080	29,080	29,080	29,080	33,955	33,549	33,549	33,549	33,549	33,549	33,549	33,549	33,549	33,549	33,549	33,549	33,549	33,549	33,549	33,549	33,549	33,549	33,549	33,549	44,241	44,241	44,241	44,241	44,241	44,241	44,241	38,871	38,871	38,871	38,871	38,871	38,871	38,871	38,871	38,871	38,871	38,871	38,985	38,980	38,796	38,796
Total	405,958	405,492	406,971	406,341	435,289	442,993	442,616	447,675	447,675	482,968	490,468	490,468	490,468	491,649	555,836	613,010	613,577	660,500	660,500	660,500	660,500	679,671	714,959	714,959	714,959	746,027	746,027	746,027	746,027	746,027	746,027	746,027	737,466	737,467	737,467	757,355	758,336	758,336	728,012	709,989	710,574	710,510	710,569	710,895	711,192	708,486	709,108
Iguatemi Interest	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Iguatemi São Paulo	50,5%	50.50%	50.50%	50,5%	50.60%	50.60%	50.60%	57.60%	57.60%	57.60%	57.60%	57.75%	57.75%	57.75%	57.75%	57.75%	57.77%	57.77%	57.77%	58.01%	58.01%	58.01%	58.13%	58.13%	58.41%	58.41%	58.41%	58.41%	58.41%	58.41%	58.44%	58.45%	58.49%	58.54%	58.55%	58.58%	58.58%	58.58%	58.58%	58.58%	58.58%	58.58%	58.58%	58.58%	58.58%	58.58%	58.58%
JK Iguatemi	-	-	-	-	-	-	-	-	-	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%
Pátio Higienópolis	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.84%	11.20%	11.20%	11.20%	11.20%	11.20%	11.20%	11.20%	11.20%	11.20%	11.54%	11.54%	11.54%	11.54%	11.54%	11.54%	11.54%	11.54%	11.54%	11.54%	11.54%	11.54%	11.54%	11.54%	11.54%
Market Place	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Iguatemi Alphaville	-	-	-	-	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%	78.00%
Iguatemi Campinas	65.00%	65.00%	65.00%	65.00%	65.00%	65.00%	65.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%	70.00%
Galleria	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	80.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Iguatemi Esplanada (1)	29.70%	29.70%	29.70%	29.70%	33.10%	33.10%	38.00%	38.00%	38.00%	38.00%	38.00%	38.00%	38.00%	38.00%	38.00%	55.33%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	55.37%	60.93%	60.93%	60.93%	60.93%	60.93%	60.93%	60.93%
Iguatemi Esplanada - propietary area (2)	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Iguatemi São Carlos	45.00%	45.00%	45.00%	45.00%	45.00%	45.00%	45.00%	45.00%	45.00%	45.00%	45.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%	50.00%
Iguatemi Ribeirão Preto	-	-	-	-	-	-	-	-	-	-	-	-	-	-	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%
Iguatemi Rio Preto	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%	88.00%
Iguatemi Porto Alegre (3)	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	42.58%	42.58%	42.58%	42.58%	42.58%	42.58%	42.58%
Praia de Belas	37.50%	37.50%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.80%	37.55%	37.55%	37.55%	37.55%	37.55%	37.55%	37.55%	37.55%	57.55%	57.55%	57.55%	57.55%	57.55%	57.55%	57.55%
Iguatemi Florianópolis	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	0.00%	0.0	0.0	0.0	1.0	0.0	0.0	0.0
Iguatemi Caxias	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	8.40%	0.00%	0.00%	0.0	0.0	0.0	1.0	0.0	0.0	0.0
Iguatemi Brasília	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%	64.00%
I Fashion Outlet Novo Hamburgo	-	-	-	-	-	-	-	-	-	-	-	-	-	-	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%	41.00%
I Fashion Outlet Santa Catarina	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	54.00%	54.00%	54.00%	54.00%	54.00%	54.00%	54.00%	54.00%	54.00%	54.00%	54.00%	54.00%
Power Center Iguatemi Campinas (4)	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%	77.00%
Boulevard Iguatemi Rio	60.70%	60.70%	60.70%	60.70%	60.70%	60.70%	68.90%	68.90%	68.90%	68.90%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00%	0.00%	0.00%	0.0	-	-	-	0.0	0.0	0.0	0.0	1.0	0.0	0.0	0.0
Subtotal Shoppings	51.50%	51.60%	51.60%	51.60%	53.80%	53.80%	54.70%	55.80%	55.80%	55.40%	54.58%	54.80%	54.80%	54.95%	59.11%	60.08%	60.09%	62.76%	62.76%	62.78%	62.78%	63.00%	59.99%	59.99%	60.42%	59.71%	59.71%	59.71%	59.71%	59.71%	59.71%	59.72%	59.48%	59.48%	59.48%	59.33%	59.32%	59.32%	61.56%	62.68%	65.17%	65.17%	65.17%	65.16%	65.16%	65.16%	65.09%
Market Place Torre I	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Market Place Torre II	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Torre Iguatemi Porto Alegre	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	36.00%	42.58%	42.58%	42.58%	42.58%	42.58%	42.58%	42.58%
Torre Iguatemi São Paulo	-	-	-	-	-	50.60%	50.60%	57.60%	57.60%	57.60%	57.60%	57.75%	57.75%	57.75%	57.75%	57.75%	57.77%	57.77%	57.77%	58.01%	58.01%	58.01%	58.13%	58.13%	58.41%	58.41%	58.41%	58.41%	58.41%	58.41%	58.44%	58.44%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00%
Subtotal Towers	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	93.40%	94.40%	94.40%	100.00%	100.00%	94.37%	94.37%	94.37%	94.37%	94.37%	94.37%	94.37%	94.37%	94.41%	94.41%	94.41%	94.42%	94.42%	94.42%	80.33%	80.33%	80.33%	80.33%	80.33%	80.33%	80.33%	83.08%	83.08%	83.08%	83.08%	83.08%	83.08%	83.08%	83.08%	84.82%	84.82%	84.82%	84.86%	84.86%	84.86%	85.06%
Total	54,8%	54.90%	54.90%	54.90%	56.70%	56.60%	57.40%	58.50%	58.50%	57.90%	57.23%	57.50%	57.50%	61.24%	61.96%	61.97%	64.37%	64.37%	64.39%	64.39%	64.55%	61.60%	61.60%	62.02%	60.94%	60.94%	60.94%	60.94%	60.94%	60.94%	60.94%	60.72%	60.72%	60.72%	60.55%	60.54%	60.54%	62.71%	63.79%	66.24%	66.24%	66.24%	66.24%	66.24%	66.24%	66.18%
Owned GLA	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2T17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Iguatemi São Paulo	20,147	20,139	20,316	20,308	20,377	21,602	21,499	24,252	24,252	24,252	24,252	24,315	24,315	26,916	26,916	26,916	26,652	26,652	26,652	26,762	26,762	26,762	27,508	27,508	27,641	27,641	27,641	27,641	27,641	27,641	27,655	27,660	28,595	28,619	28,624	28,639	28,740	28,740	28,740	28,858	28,897	28,856	28,868	28,856	28,856	28,856	28,855
JK Iguatemi	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	17,647	17,647	17,647	17,647	17,647	17,647	17,647	22,372	22,372	22,372	22,372	22,372	22,372	22,372	22,372	22,372	22,372	22,372	22,372	22,372	22,372	22,372	22,372	21,990	21,990	21,990	21,990	21,990	21,990	21,990	21,989	21,989	21,989	21,989	21,988	21,989	21,828	21,828
Pátio Higienópolis	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	968	3,819	3,819	3,819	3,819	3,819	3,819	3,819	3,819	3,819	3,903	3,903	3,903	3,903	3,903	3,903	3,903	3,850	3,850	3,851	3,851	3,861	3,862	3,865	3,863
Market Place	26,126	26,252	26,236	26,023	26,017	26,017	26,848	26,927	26,927	26,927	26,927	26,927	26,927	26,927	26,927	26,927	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,940	26,548	26,548	26,548	26,548	26,713	26,713	26,713	26,881	26,882	26,882	26,882	26,882	26,772	26,553	26,553
Iguatemi Alphaville	-	-	-	-	23,539	23,539	23,830	24,041	24,041	24,041	24,041	24,041	24,041	24,041	24,041	24,041	24,423	24,423	24,423	24,423	24,423	24,423	24,423	24,423	24,423	24,423	24,423	24,423	24,423	24,423	24,423	24,423	24,381	24,381	24,381	24,381	24,375	24,375	24,375	24,284	24,295	24,295	24,295	24,295	24,295	24,295	24,179
Iguatemi Campinas	35,677	35,787	35,787	35,818	35,818	36,001	35,120	37,853	37,853	37,853	37,853	37,853	37,853	37,853	37,853	37,853	38,025	38,025	38,025	38,025	38,025	51,445	51,445	51,445	51,445	51,444	51,444	51,444	51,444	51,444	51,444	51,444	50,861	50,861	50,861	50,861	50,908	50,908	50,908	50,908	50,908	50,908	50,908	50,908	50,916	50,908	51,376
Galleria	12,007	12,007	12,037	12,028	11,992	11,971	12,126	12,868	12,868	12,868	16,618	16,618	16,618	16,618	26,589	33,236	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,146	33,263	33,263	33,263	33,263	33,245	33,245	33,245	33,249	33,142	33,142	33,142	33,141	33,141	33,141	33,141
Iguatemi Esplanada (1)	8,224	8,224	8,224	8,224	9,168	9,168	10,509	10,509	10,509	10,509	10,509	10,512	10,512	9,249	9,249	35,352	35,636	35,636	35,636	35,636	35,636	35,636	35,636	35,636	35,636	35,636	35,636	35,636	35,636	35,636	35,636	35,636	35,704	35,704	35,704	35,704	35,832	35,832	35,832	35,884	39,491	39,491	39,491	39,491	39,491	39,491	39,490
Iguatemi Esplanada - propietary area (2)	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678	3,678
Iguatemi São Carlos	8,571	8,571	8,571	8,560	8,559	8,559	8,559	8,566	8,566	8,566	8,566	9,518	9,518	9,518	9,518	9,518	9,525	11,162	11,162	11,162	11,162	11,162	11,162	11,162	11,162	11,162	11,162	11,162	11,162	11,162	11,162	11,162	11,166	11,166	11,166	11,166	11,166	11,166	11,166	11,167	11,167	11,167	11,167	11,167	11,167	11,167	11,167
Iguatemi Ribeirão Preto	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	38,808	38,808	38,410	38,410	38,410	38,410	38,410	38,410	38,410	38,410	38,410	38,410	38,410	38,410	38,410	38,410	38,410	38,410	35,678	35,678	35,678	35,678	35,633	35,633	35,633	38,126	38,093	38,093	38,093	38,218	38,217	38,130	38,130
Iguatemi Rio Preto	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	38,411	38,411	38,411	38,411	38,411	38,411	38,411	38,411	38,411	38,411	38,411	38,411	38,411	38,411	38,411	38,320	38,320	38,320	38,320	38,323	38,323	38,323	38,324	38,324	38,324	38,324	38,324	38,324	38,324	38,324
Iguatemi Porto Alegre (3)	14,159	14,160	14,155	14,151	14,151	14,150	14,150	14,150	14,150	14,150	14,150	14,150	14,150	14,150	14,150	14,150	14,013	14,013	14,013	14,013	14,013	14,013	14,013	14,013	14,013	21,349	21,349	21,349	21,349	21,349	21,349	21,349	22,812	22,812	22,812	22,812	22,812	22,812	22,812	23,131	27,359	27,359	27,376	27,376	27,521	27,595	27,595
Praia de Belas	10,536	10,515	11,003	10,962	10,962	10,911	10,914	11,404	11,404	11,404	11,404	11,371	11,371	11,371	11,371	18,032	17,843	17,843	17,843	17,843	17,843	17,843	17,843	17,843	17,843	17,843	17,843	17,843	17,843	17,843	17,843	17,843	16,660	16,660	16,660	16,660	16,814	16,814	16,814	16,773	25,715	25,715	25,715	25,715	25,707	25,711	25,779
Iguatemi Florianópolis	6,069	6,053	6,053	6,059	6,054	6,054	6,074	6,146	6,146	6,146	6,146	6,146	6,146	6,146	6,146	6,146	6,357	6,357	6,357	6,357	6,357	6,357	6,357	6,357	6,357	6,357	6,357	6,357	6,357	6,357	6,357	6,357	6,333	6,333	6,333	6,333	6,333	6,333	6,333	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Iguatemi Caxias	2,602	2,547	2,547	2,547	2,444	2,444	2,444	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	2,547	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Iguatemi Brasília	21,632	21,632	21,632	21,632	21,632	21,632	21,632	20,366	20,366	20,366	20,366	20,366	20,366	20,366	20,366	20,366	20,673	20,673	20,673	20,673	20,673	20,673	20,673	20,673	20,673	20,673	20,673	20,673	20,673	20,673	20,673	20,673	21,854	21,854	21,854	21,854	21,858	21,858	21,858	21,640	22,045	22,045	22,045	22,046	22,091	22,181	22,181
I Fashion Outlet Novo Hamburgo	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	8,236	8,236	8,247	8,247	8,247	8,247	8,247	8,247	8,247	8,247	8,247	8,247	8,247	8,247	8,247	8,247	8,247	8,247	8,235	8,235	8,235	8,235	8,235	8,235	8,235	8,223	8,223	8,223	8,223	8,223	8,223	8,223	8,223
I Fashion Outlet Santa Catarina	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	10,739	10,739	10,739	10,739	10,713	10,713	10,713	10,713	10,712	10,712	10,712	10,712
Power Center Iguatemi Campinas (4)	22,466	22,466	22,466	22,466	22,466	22,466	22,466	24,691	24,691	24,691	24,691	24,691	24,691	24,691	24,691	24,691	24,965	24,965	24,965	24,965	24,965	24,965	24,965	24,965	24,965	24,965	24,965	24,965	24,965	24,965	24,965	24,965	22,963	22,963	22,963	22,963	22,963	22,963	22,963	22,963	22,963	22,963	22,963	22,963	22,963	21,201	21,201
Boulevard Iguatemi Rio	15,755	15,892	15,892	15,892	15,892	15,906	18,061	17,995	17,995	17,995	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	- 0	- 0	-	-	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Subtotal Shoppings	191,894	192,031	192,705	192,456	216,857	218,192	219,849	227,998	227,998	245,645	249,395	250,380	250,380	251,718	308,733	348,144	348,559	393,500	393,500	393,610	393,610	407,030	408,745	411,595	411,728	419,064	419,064	419,064	419,064	419,064	419,079	419,083	415,490	415,514	415,519	426,273	426,808	426,808	424,261	420,641	437,734	437,694	437,722	437,723	437,923	435,858	436,274
Market Place Torre I	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,685	15,274	15,274	15,274	15,274	15,274	15,274	15,274	15,274	15,274	15,274	15,274	15,315	15,315	15,315	15,315
Market Place Torre II	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,395	13,319	13,319	13,319	13,319	13,319	13,319	13,319	13,319	13,319	13,319	13,319	13,394	13,389	13,389	13,389
Torre Iguatemi Porto Alegre	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	3,849	3,849	3,849	3,849	3,849	3,849	3,849	3,700	3,700	3,700	3,700	3,700	3,700	3,700	3,700	4,376	4,376	4,376	4,376	4,376	4,297	4,297
Torre Iguatemi São Paulo	- 0	- 0	- 0	- 0	- 0	2,467	2,261	2,574	2,574	2,574	2,574	2,581	2,581	2,581	2,581	2,581	2,582	2,582	2,582	2,592	2,592	2,592	2,598	2,598	2,598	2,610	2,610	2,610	2,610	2,610	2,612	2,612	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Subtotal Towers	29,080	29,080	29,080	29,080	29,080	31,547	31,341	31,654	31,654	31,654	31,654	31,661	31,661	31,661	31,661	31,661	31,662	31,662	31,662	31,672	31,672	31,672	31,678	31,678	31,678	35,539	35,539	35,539	35,539	35,539	35,541	35,541	32,293	32,293	32,293	32,293	32,293	32,293	32,293	32,293	32,969	32,969	32,969	32,970	33,079	33,001	33,001
Total	220,974	221,111	221,785	221,536	245,937	249,739	251,190	259,652	259,652	277,299	281,049	282,041	282,041	283,379	340,394	379,805	380,221	425,162	425,162	425,282	425,282	438,702	440,423	443,273	443,419	454,604	454,604	454,604	454,604	454,604	454,619	454,624	447,783	447,808	447,813	458,567	459,101	459,101	456,554	452,934	470,703	470,663	470,692	470,693	471,003	468,859	469,275
(1) Considers Esplanada Shopping and Iguatemi Esplanada as a single asset.
(2) Area owned by Iguatemi in Esplanada, held through a subsidiary.
(3) Considers the 6,58% indirect stake owned by Maiojama Participações.
(4) Power Center is contiguous to the Iguatemi Campinas mall.

Operational Performance

Operatinal Performance (100%)	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Minimum Rental + Overage + Temporary Rent (R$ '000) (1)	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Iguatemi São Paulo	23,088	25,157	25,023	35,650	26,113	28,447	28,318	40,290	29,588	32,009	30,576	41,135	30,653	33,654	33,890	45,505	34,438	36,205	36,720	50,782	37,060	38,769	40,368	52,982	39,889	44,470	42,430	56,986	43,242	45,806	46,036	62,832	45,096	49,064	48,082	58,500	47,266	50,578	51,141	69,090	49,577	49,788	51,101	76,389	55,497	62,110	68,222
JK Iguatemi	-	-	-	-	-	-	-	-	-	1,072	13,481	18,714	13,452	15,640	15,441	19,565	15,078	15,387	17,133	22,154	16,351	18,400	17,049	22,326	16,560	17,749	17,939	23,859	16,808	18,346	18,023	24,493	16,937	19,062	19,611	26,546	19,518	22,148	21,810	28,999	20,251	19,065	20,524	28,491	20,735	25,088	30,859
Pátio Higienópolis (3)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	19,034	25,452	21,403	22,010	20,885	27,398	22,534	23,143	22,977	31,190	22,764	23,602	23,937	32,035	24,694	24,993	25,162	32,922	25,315	24,158	23,294	31,910	24,976	25,605	27,504
Market Place	4,797	4,886	5,155	7,129	5,273	5,377	6,638	8,157	5,904	6,177	6,675	8,329	6,054	6,602	6,545	8,298	6,006	6,674	6,766	9,102	6,184	6,416	7,563	7,970	6,345	6,725	7,438	8,956	6,928	7,069	6,851	9,888	6,928	6,922	7,097	8,722	6,406	6,808	7,745	9,724	6,643	6,071	6,368	7,849	6,201	6,219	6,994
Torres Market Place	5,515	5,551	5,631	5,757	5,849	5,943	6,095	6,283	6,600	6,508	6,506	6,731	6,865	6,825	7,031	7,803	7,508	7,321	7,735	7,013	7,057	7,244	6,335	6,264	6,230	5,985	6,154	6,069	6,129	6,046	6,094	5,561	5,384	5,350	5,446	5,682	5,080	4,152	4,403	6,288	6,065	6,726	6,330	7,270	5,945	6,585	4,240
Iguatemi Alphaville	-	-	-	-	-	4,272	6,455	8,496	6,451	6,785	6,729	8,332	6,231	6,556	6,545	8,659	6,417	6,888	6,741	9,168	6,773	7,281	7,251	11,002	6,960	7,435	7,385	11,446	6,997	7,491	8,247	9,375	7,313	7,599	8,325	10,963	7,138	7,929	8,378	11,363	8,247	7,753	7,800	10,332	8,127	8,472	9,387
Iguatemi Campinas	11,818	12,372	12,775	17,209	12,553	13,358	13,445	18,981	13,407	14,624	15,686	20,171	15,458	16,189	17,041	22,185	16,908	17,929	18,114	23,711	17,969	20,943	22,062	29,910	22,367	23,141	24,143	34,887	23,726	25,199	25,638	34,069	25,106	26,317	27,356	35,303	27,211	28,435	28,737	37,096	27,526	25,019	24,325	33,701	25,927	28,009	30,976
Galleria	2,496	2,604	2,651	4,167	2,686	2,927	3,176	4,114	3,075	3,280	3,782	6,082	4,854	4,794	4,966	6,377	4,918	5,072	4,991	7,455	4,920	5,077	5,041	6,745	5,137	5,208	5,138	6,945	5,343	5,390	4,784	7,268	5,461	5,406	5,580	7,997	5,272	5,227	5,222	6,567	5,662	4,999	5,158	7,157	5,761	6,134	6,758
Iguatemi Esplanada (2)	5,749	5,941	6,101	8,052	6,158	6,511	6,711	8,999	7,043	7,186	7,396	9,902	7,822	7,920	8,044	14,734	14,348	14,067	14,033	19,675	14,362	14,590	14,531	19,309	14,845	15,066	15,083	20,382	15,870	15,838	16,199	22,560	16,164	16,357	16,273	22,513	15,900	16,493	16,336	21,977	16,484	15,458	14,627	20,066	16,320	17,479	18,573
Iguatemi São Carlos	1,247	1,383	1,358	2,073	1,445	1,603	1,403	2,212	1,514	1,740	1,704	2,345	1,783	1,787	1,820	2,810	1,861	2,001	2,258	3,060	2,354	2,417	2,469	3,462	2,472	2,717	2,596	3,735	2,681	2,706	2,741	3,801	2,760	2,827	2,832	4,457	2,990	3,155	3,192	4,100	3,135	2,780	2,847	3,772	3,031	3,308	3,499
Iguatemi Ribeirão Preto	-	-	-	-	-	-	-	-	-	-	-	-	-	-	82	6,167	4,641	4,721	4,691	6,325	5,174	4,885	5,088	6,586	5,779	5,279	5,471	7,005	6,109	5,356	5,513	6,695	5,672	5,313	5,338	7,602	6,094	6,242	6,738	8,530	6,796	5,254	5,680	7,915	6,407	6,594	7,416
Iguatemi Rio Preto	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,658	5,221	6,522	5,296	5,082	5,684	7,256	5,739	6,544	6,382	8,973	6,268	6,777	6,524	8,335	7,636	7,745	7,825	10,081	7,546	7,642	8,982	11,145	7,481	6,902	7,260	9,272	7,544	9,566	9,948
Iguatemi Porto Alegre	12,581	13,568	14,032	18,104	13,477	14,427	14,909	19,218	14,864	15,968	15,728	20,215	15,992	17,221	16,427	21,953	16,972	17,382	17,062	23,255	17,057	17,539	17,521	24,916	18,723	21,408	24,754	31,723	24,059	25,275	28,194	34,112	26,266	27,947	27,070	37,909	28,155	30,851	30,260	39,765	30,628	27,514	26,920	35,913	29,325	32,365	35,652
Torre Iguatemi Porto Alegre	1,246	1,485	1,543	1,606	1,772	1,891	2,026	2,036	2,219	2,316	2,379	2,423	2,420	2,430	2,385
Praia de Belas	5,990	6,439	6,580	8,789	6,465	6,973	6,925	9,269	6,824	7,404	7,160	10,081	7,265	7,998	8,413	11,720	9,457	10,761	10,291	13,772	10,343	11,140	10,641	14,451	11,167	11,410	11,174	14,940	11,835	12,070	11,831	15,152	11,986	12,071	12,221	15,726	12,574	13,026	12,934	16,916	12,971	11,337	11,139	14,724	12,210	13,637	14,021
Iguatemi Florianópolis	4,175	4,729	4,647	6,140	5,166	5,448	5,402	7,051	5,573	5,667	5,523	7,446	5,602	5,965	5,626	7,785	6,053	6,201	6,280	8,419	6,018	6,147	6,061	8,445	6,579	6,293	6,317	9,080	6,649	6,638	6,500	9,356	6,664	6,766	6,690	8,633	6,437	6,330	6,290	0	0.0	0.0	0.0	0.0	0.0	0.0
Iguatemi Caxias	-	-	-	-	-	-	-	-	4,084	4,660	4,788	6,108	4,728	5,312	5,228	7,114	5,311	5,945	5,820	7,843	5,534	6,504	6,987	8,731	6,057	6,678	6,360	8,176	5,923	5,838	5,753	7,748	5,359	5,737	5,576	7,458	5,672	5,952	0	0	0.0	0.0	0.0	0.0	0.0	0.0
Iguatemi Brasília	110	5,470	5,733	8,430	6,403	7,093	7,196	9,706	7,336	7,735	7,672	10,301	7,325	8,168	8,279	10,874	7,967	8,571	8,742	11,375	8,859	9,141	9,230	12,220	9,462	9,961	9,738	12,959	9,914	10,125	10,306	15,079	9,683	9,708	9,814	14,143	9,711	10,391	9,886	13,004	9,801	10,103	9,597	12,849	10,210	12,001	12,460
I Fashion Outlet Novo Hamburgo	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,800	2,124	1,908	2,244	2,983	2,344	2,611	2,502	3,626	2,587	2,727	2,718	3,759	2,684	2,833	2,818	4,727	2,933	3,005	3,150	3,688	2,678	2,999	3,012	4,089	2,700	2,321	2,562	4,446	2,731	3,594	3,997
I Fashion Outlet Santa Catarina	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	107	1,062	1,519	971	1,605	1,082	799	1,037	1,665	1,307	1,499	1,466
Power Center Iguatemi Campinas	353	474	929	521	665	616	642	665	778	683	782	-	673	690	774	878	800	750	809	836	836	824	878	935	840	713	736	900	841	789	836	987	859	769	849	1,002	884	758	760	794	754	709	732	824	776	706	721
Parking (R$ '000)	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Iguatemi São Paulo	4,607	4,742	4,788	6,140	5,190	5,589	5,464	6,093	6,194	6,435	5,542	6,758	5,945	6,137	5,988	7,221	6,771	6,940	6,784	7,564	6,803	7,162	7,005	8,914	7,078	7,447	7,123	8,518	7,115	7,506	7,587	8,895	6,880	7,643	7,423	8,699	7,185	7,657	7,318	8,783	6,324	417	3,446	6,605	3,600	4,925	6,819
JK Iguatemi	-	-	-	-	-	-	-	-	-	591	4,571	4,127	3,902	4,033	4,261	4,888	4,723	4,832	4,807	5,379	5,168	5,544	4,900	5,827	5,070	5,484	5,234	5,975	4,862	5,108	5,242	5,655	5,060	5,639	5,630	6,142	5,735	6,011	5,785	6,313	4,563	316	1,991	3,565	2,021	2,677	3,994
Pátio Higienópolis (3)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,623	4,577	3,545	3,603	3,576	4,231	4,133	3,771	3,913	3,782	4,286	3,854	3,983	4,726	4,547	3,184	3,840	4,933	3,996	748	35	2,169	2,411	931	2,702
Market Place	3,302	3,275	3,476	3,877	3,519	3,646	3,732	3,840	4,124	4,196	4,149	4,687	4,595	4,447	4,665	4,812	5,629	5,484	5,191	5,466	5,837	5,817	5,715	6,809	6,510	6,085	6,024	6,325	6,113	5,736	5,705	6,014	5,507	4,972	5,238	5,767	5,067	5,167	4,911	5,332	4,154	211	760	1,994	1,974	1,884	2,782
Torres Market Place	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	0	-	0	0	0	0	0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Iguatemi Alphaville	-	-	-	-	-	1,441	1,550	1,757	1,515	1,713	1,764	2,151	1,906	2,090	2,093	2,439	2,335	2,565	2,376	3,004	3,140	3,207	3,142	3,711	3,478	3,551	3,548	4,015	3,799	3,850	3,579	3,934	3,553	3,846	3,805	4,212	3,710	4,085	4,019	4,632	3,473	270	1,745	2,980	1,617	2,140	3,348
Iguatemi Campinas	2,973	2,991	3,127	3,648	3,346	3,790	3,740	4,412	3,718	3,927	3,813	4,423	4,011	4,215	4,203	4,866	4,468	4,505	4,365	5,122	4,414	5,022	5,519	6,671	6,146	6,513	6,184	8,182	6,979	7,089	6,681	8,884	7,654	7,299	7,830	9,546	8,224	8,248	7,761	9,826	7,007	333	2,474	6,325	3,118	3,858	5,640
Galleria	-	381	801	926	827	815	958	1,053	1,083	1,052	1,126	1,340	1,463	1,389	1,432	1,646	1,660	1,663	1,749	2,233	2,027	1,897	2,084	2,568	2,344	2,109	2,188	2,426	2,278	2,294	2,352	2,636	2,513	2,513	2,631	2,826	2,445	2,365	2,596	2,843	2,290	331	901	1,811	1,146	1,255	1,807
Iguatemi Esplanada (2)	1,412	1,544	1,605	1,828	1,401	1,502	1,799	2,115	1,718	1,799	2,001	2,369	1,919	1,943	2,221	3,306	2,712	3,120	3,242	4,065	3,162	3,397	3,401	4,638	3,670	4,160	4,030	4,978	4,102	5,020	4,820	5,855	4,802	4,577	4,832	6,357	4,989	5,120	5,326	6,830	2,590	708	2,541	5,631	2,710	3,567	5,165
Iguatemi São Carlos	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	163	667	566	588	676	886	685	706	695	864	844	840	799	1,005	848	818	855	1,052	896	902	871	1,060	759	132	373	699	255	452	615
Iguatemi Ribeirão Preto	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	52	17	12	12	42	9	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	0	0	0	0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Iguatemi Rio Preto	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	52	74	90	63	58	54	80	57	64	60	94	82	84	44	-	-	0	-	-	0	0	0	0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Iguatemi Porto Alegre	2,385	2,663	2,726	3,090	2,814	3,038	3,123	3,381	3,014	3,139	3,223	3,665	3,243	3,432	3,475	3,567	3,315	2,971	3,143	3,764	3,499	3,802	3,762	4,541	3,383	5,168	5,438	6,888	6,255	6,445	6,222	7,678	6,433	6,837	6,799	8,104	6,577	6,991	6,955	8,732	5,843	1,217	2,174	5,982	3,479	5,199	6,172
Torre Iguatemi Porto Alegre	-	0	-	-	0	0	0	0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Praia de Belas	1,443	1,551	1,608	1,728	1,463	1,675	1,724	1,778	1,568	1,892	1,924	2,085	1,820	2,031	2,225	2,310	2,325	2,662	2,665	2,851	2,617	3,157	3,521	3,808	2,972	3,548	3,641	3,973	3,623	3,950	4,365	4,728	3,911	4,460	5,029	5,294	4,522	4,898	4,837	5,283	3,725	482	833	2,501	1,510	2,131	2,765
Iguatemi Florianópolis	930	887	909	1,022	944	887	822	992	1,100	1,046	1,064	1,162	1,212	993	1,041	1,206	1,358	1,234	1,142	1,355	1,426	1,234	1,171	1,520	1,574	1,308	1,223	1,552	1,436	1,213	1,173	1,493	1,680	1,296	1,361	1,546	1,511	1,323	1,290	0	0	0	0	0	0	0	2,146
Iguatemi Caxias	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	689	622	1,321	1,508	1,345	956	1,417	1,416	1,438	1,656	1,264	1,522	1,210	1,159	1,334	1,622	1,349	1,397	0	0	0	0	0	0	0	0	0
Iguatemi Brasília	-	822	933	1,293	1,611	1,525	1,587	2,039	1,624	1,653	1,689	2,065	2,012	1,935	1,961	2,424	2,100	2,300	2,006	2,690	2,376	2,446	2,263	2,872	2,796	2,907	2,705	3,505	2,861	2,699	2,420	3,054	2,699	2,666	2,755	3,411	2,777	2,595	2,517	3,341	2,470	321	1,164	2,023	1,098	1,553	2,146
I Fashion Outlet Novo Hamburgo	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	0	0	0	0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
I Fashion Outlet Santa Catarina	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Power Center Iguatemi Campinas	-	-	-	-	-	45	142	114	107	90	84	82	94	86	100	127	117	109	112	115	129	107	101	107	122	130	132	227	219	200	219	248	244	213	257	296	272	283	304	366	312	120	230	293	170	237	281
(1) Numbers do not include the linearization effect.
(2) Considers Iguatemi Esplanada and Esplanada Shopping as one asset.
(3) Revenues for Pátio Higienópolis calculated using the cash accounting regime in 2015 and 2016 (accumulated Revenues for 2015 not disclosed as we acquired a stake in the mall in July/2015). From 2017 onwards the mall started reporting under the formal accounting method.

P&L

Financial Performance	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Consolidated Profit and Loss Account - Management Accounting (R$ '000)	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Gross Revenue	62,667	74,741	75,554	81,474	76,912	90,095	95,632	106,862	102,506	108,702	119,612	131,813	115,464	122,038	125,957	156,248	145,102	159,223	165,590	187,149	165,606	175,716	177,761	196,600	180,418	188,954	186,755	213,043	192,548	196,793	197,835	218,292	192,285	201,163	202,173	230,522	197,009	214,042	209,459	241,018	204,843	159,989	179,263	228,136	196,122	228,158	255,238
Taxes and Discounts	(6,350)	(8,041)	(7,945)	(8,521)	(8,025)	(9,448)	(10,875)	(11,631)	(11,842)	(11,628)	(15,306)	(13,336)	(12,966)	(13,922)	(12,903)	(16,166)	(13,894)	(15,385)	(17,615)	(20,566)	(16,784)	(19,106)	(18,139)	(24,459)	(19,931)	(26,143)	(25,658)	(29,291)	(25,199)	(27,380)	(28,144)	(32,589)	(23,815)	(26,153)	(24,619)	(30,029)	(24,016)	(26,369)	(27,080)	(29,793)	(48,048)	(80,802)	(62,164)	(59,173)	(56,399)	(60,570)	(58,644)
Straight-line effec on COVID-19 discounts	81,727	65,034	15,440	29,666	2,713	15,600
Net Revenue	56,317	66,700	67,609	72,953	68,887	80,647	84,757	95,231	90,664	97,074	104,306	118,477	102,498	108,116	113,054	140,082	131,208	143,838	147,975	166,583	148,822	156,610	159,622	172,141	160,487	162,811	161,097	183,752	167,349	169,413	169,690	185,704	168,470	175,011	177,553	200,492	172,993	187,674	182,378	211,225	156,795	160,914	182,131	184,403	169,390	170,302	212,194
Costs and Expenses	(21,357)	(28,417)	(25,574)	(35,254)	(28,088)	(31,426)	(40,514)	(43,064)	(30,891)	(37,278)	(49,816)	(47,639)	(34,891)	(39,332)	(42,141)	(57,465)	(41,375)	(46,748)	(45,849)	(46,993)	(44,689)	(46,764)	(44,276)	(54,120)	(41,035)	(45,981)	(38,439)	(41,324)	(41,704)	(46,684)	(40,645)	(46,044)	(45,463)	(48,636)	(46,469)	(57,352)	(48,521)	(54,663)	(53,644)	(63,345)	(51,235)	(38,929)	(52,463)	(68,082)	(63,754)	(74,436)	(82,076)
Other Operational Revenues	189	11,402	13,286	7,077	509	8,522	20,824	18,721	1,156	22,579	110,636	26,494	14,418	2,481	6,765	34,204	8,693	3,084	10,324	23,593	(1,460)	12,520	19,384	26,013	9,354	4,534	5,010	91	(180)	7,444	4,499	10,526	2,493	5,852	9,828	15,621	4,636	4,369	39,491	52,013	(2,984)	(7,394)	4,066	45,583	(4,432)	12,788	23,166
Asset Equivalence Result	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	218	223	257	241	299	299	298	294	279	287	281	277	305	292	293	299	336	339	335	338	236	251	238
EBITDA	35,149	49,673	55,310	44,757	41,299	57,731	65,067	70,888	60,929	82,375	165,126	97,332	82,025	71,265	77,678	116,821	98,526	100,175	112,450	143,183	102,673	122,366	134,730	144,034	129,024	121,587	127,925	142,760	125,764	130,472	133,842	150,480	125,779	132,514	141,193	159,038	129,413	137,672	168,518	200,192	102,912	114,930	134,069	162,242	101,440	108,905	153,522
EBITDA Margin	62.4%	74.5%	81.8%	61.4%	60.0%	71.6%	76.8%	74.4%	67.2%	84.9%	158.3%	82.2%	80.0%	65.9%	68.7%	83.4%	75.1%	69.6%	76.0%	86.0%	69.0%	78.1%	84.4%	83.7%	80.4%	74.7%	79.4%	77.7%	75.2%	77.0%	78.9%	81.0%	74.7%	75.7%	79.5%	79.3%	74.8%	73.4%	92.4%	94.8%	65.6%	71.4%	73.6%	88.0%	59.9%	63.9%	72.3%
Ajusted EBITDA	-	-	-	-	-	-	-	-	-	-	56,921	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15495600.0%	15305400.0%
Ajusted EBITDA Margin	-	-	-	-	-	-	-	-	-	-	54.6%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	85.0%	72.5%
Depreciation and Amortization	(4,414)	(5,537)	(5,209)	(5,275)	(5,056)	(6,010)	(6,523)	(8,142)	(8,357)	(9,509)	(11,208)	(11,594)	(11,892)	(12,057)	(13,259)	(16,879)	(18,574)	(21,824)	(23,180)	(23,857)	(24,335)	(25,185)	(25,918)	(27,307)	(27,847)	(27,223)	(26,751)	(26,500)	(26,479)	(26,381)	(26,743)	(26,729)	(27,069)	(27,274)	(27,468)	(27,830)	(31,104)	(31,524)	(31,948)	(33,446)	(37,005)	(37,281)	(36,509)	(38,205)	(37,144)	(38,727)	(39,679)
EBIT	30,735	44,136	50,101	39,482	36,243	51,721	58,544	62,746	52,572	72,866	153,918	85,738	70,133	59,208	64,419	99,942	79,952	78,351	89,270	119,327	78,338	97,182	108,812	116,727	101,177	94,364	101,174	116,260	99,285	104,091	107,099	123,751	98,710	105,240	113,725	131,208	98,309	106,148	136,570	166,746	65,907	77,649	97,560	124,037	64,296	70,178	113,843
EBIT Margin	54.6%	66.2%	74.1%	54.1%	52.6%	64.1%	69.1%	65.9%	58.0%	75.1%	147.6%	72.4%	68.4%	54.8%	57.0%	71.3%	60.9%	54.5%	60.3%	71.6%	52.6%	62.1%	68.2%	67.8%	63.0%	58.0%	62.8%	63.3%	59.3%	61.4%	63.1%	66.6%	58.6%	60.1%	64.1%	65.4%	56.8%	56.6%	74.9%	78.9%	42.0%	48.3%	53.6%	67.3%	38.0%	41.2%	53.7%
Financial Revenue (Expenses)	(5,964)	564	4,153	(1,859)	4,791	(1,702)	(11,566)	(12,400)	(10,894)	(9,021)	(13,699)	(15,611)	(12,800)	(11,177)	(7,741)	(31,188)	(20,591)	(21,182)	(31,485)	(39,653)	(28,143)	(37,759)	(40,123)	(53,931)	(51,853)	(52,919)	(53,816)	(51,179)	(43,478)	(43,387)	(42,827)	(39,688)	(26,175)	(30,114)	(31,957)	(31,131)	(27,852)	(29,061)	(27,323)	(23,095)	(25,187)	(19,562)	(20,869)	(26,941)	(7,504)	365,522	(211,533)
Income Tax and Social Contribution Tax	(9,483)	(6,989)	(11,374)	(6,128)	9,546	(7,040)	(16,261)	(3,574)	(9,464)	(9,797)	(11,269)	(17,031)	(9,995)	(12,487)	(11,714)	(12,314)	(11,226)	(7,035)	9,298	(14,315)	(5,067)	(11,523)	(10,247)	(20,610)	(10,612)	(6,357)	(6,735)	(15,309)	(5,188)	(9,729)	(11,211)	(17,415)	(14,431)	(14,559)	(16,190)	(24,000)	(15,004)	(16,975)	(22,332)	(31,830)	(28,267)	(11,798)	(15,125)	(15,080)	(16,952)	(156,692)	39,733
Net Profit	15,288	37,711	42,880	31,495	50,580	42,979	30,717	46,772	32,214	54,048	128,950	53,096	47,338	35,544	44,963	56,440	48,135	50,134	67,082	65,359	45,128	47,900	58,442	42,186	38,712	35,088	40,623	49,772	50,619	50,975	53,061	66,648	58,104	60,567	65,578	76,077	55,453	60,112	86,915	111,821	12,453	46,289	61,566	82,016	39,840	279,008	(57,957)
Net Margin	27.1%	56.5%	63.4%	43.2%	73.4%	53.3%	36.2%	49.1%	35.5%	55.7%	123.6%	44.8%	46.2%	32.9%	39.8%	40.3%	36.7%	34.9%	45.3%	39.2%	30.3%	30.6%	36.6%	24.5%	24.1%	21.6%	25.2%	27.1%	30.2%	30.1%	31.3%	33.3%	34.5%	34.6%	36.9%	37.9%	32.1%	32.0%	47.7%	52.9%	7.9%	28.8%	33.8%	44.5%	23.5%	163.8%	-27.3%
FFO	19,702	43,248	48,089	36,770	55,636	48,989	37,240	54,914	40,571	63,557	140,158	64,690	59,230	47,601	58,222	73,319	66,709	71,958	90,262	89,215	69,463	73,084	84,360	69,493	66,559	62,311	67,374	76,272	77,098	77,356	79,804	88,517	85,173	87,841	93,046	103,907	86,557	91,636	118,863	145,267	49,458	83,570	98,075	120,221	76,984	317,735	(18,278)
FFO Margin	35.0%	64.8%	71.1%	50.4%	80.8%	60.7%	43.9%	57.7%	44.7%	65.5%	134.4%	54.6%	57.8%	44.0%	51.5%	52.3%	50.8%	50.0%	61.0%	53.6%	46.7%	46.7%	52.9%	40.4%	41.5%	38.3%	41.8%	41.5%	46.1%	45.7%	47.0%	47.7%	50.6%	50.2%	52.4%	51.8%	50.0%	48.8%	65.2%	68.8%	31.5%	51.9%	53.8%	65.2%	45.4%	186.6%	-8.6%
Consolidated Profit and Loss Account - Formal Accounting (R$ '000)	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Gross Revenue	62,667	74,741	75,554	81,474	76,912	90,095	95,632	106,862	100,614	105,549	104,600	116,290	103,862	109,572	113,302	143,082	132,637	158,966	165,332	186,892	165,357	175,466	177,512	196,329	180,418	188,954	186,755	213,043	192,548	196,793	197,835	218,292	192,285	201,163	202,173	230,522	197,009	214,042	209,459	241,018	202,352	157,888	177,224	225,440	193,092	225,580	252,355
Taxes and Discounts	(6,350)	(8,041)	(7,945)	(8,521)	(8,025)	(9,448)	(10,875)	(11,631)	(11,315)	(10,852)	(11,701)	(10,665)	(11,045)	(12,663)	(12,122)	(15,118)	(13,154)	(15,366)	(17,595)	(20,546)	(16,765)	(19,087)	(18,120)	(24,438)	(19,931)	(26,143)	(25,658)	(29,291)	(25,199)	(27,380)	(28,144)	(32,589)	(23,815)	(26,153)	(24,619)	(30,029)	(24,016)	(26,369)	(27,080)	(29,793)	(47,468)	1,157	2,568	(43,585)	(26,453)	(57,187)	(42,711)
Net Revenue	56,317	66,700	67,609	72,953	68,887	80,647	84,757	95,231	89,299	94,697	92,899	105,625	92,817	96,909	101,180	127,962	119,483	143,600	147,737	166,346	148,592	156,379	159,392	171,891	160,487	162,811	161,097	183,752	167,349	169,413	169,690	185,704	168,470	175,011	177,553	200,492	172,993	187,674	182,378	211,225	154,884	159,045	179,792	181,855	166,639	168,393	209,644
Costs and Expenses	(21,357)	(19,795)	(17,400)	(19,617)	(18,456)	(19,967)	(40,514)	(43,064)	(26,893)	(30,897)	(45,608)	(44,515)	(32,915)	(36,848)	(39,591)	(55,584)	(39,471)	(46,728)	(45,824)	(47,113)	(44,666)	(46,735)	(44,260)	(54,124)	(41,035)	(45,981)	(38,439)	(41,324)	(41,704)	(46,684)	(40,645)	(46,044)	(45,463)	(48,636)	(46,469)	(57,352)	(48,521)	(54,663)	(53,644)	(63,345)	(51,128)	(38,846)	(52,382)	(67,806)	(63,607)	(74,214)	(81,884)
Other Operational Revenues	189	11,402	13,286	7,077	509	8,522	20,824	18,721	1,145	22,509	110,853	27,776	14,487	2,571	6,148	34,581	8,650	3,084	10,324	23,737	(1,460)	12,520	19,384	26,013	9,354	4,534	5,010	91	(180)	7,444	4,499	10,526	2,493	5,852	9,828	15,621	4,636	4,369	39,491	52,013	(2,962)	(7,307)	4,022	45,553	(4,320)	12,802	23,344
Asset Equivalence Result	-	-	-	-	-	-	-	-	(2,942)	(3,848)	4,279	5,585	5,152	5,730	6,978	6,462	6,757	195	187	187	183	177	190	227	218	223	257	241	299	299	298	294	279	287	281	277	305	292	293	299	270	564	1,204	1,276	1,615	352	349
EBITDA	35,149	49,673	55,310	44,757	41,299	57,731	65,067	70,888	60,609	82,461	162,423	94,471	79,541	68,362	74,715	113,421	95,419	100,151	112,424	143,157	102,649	122,341	134,706	144,007	129,024	121,587	127,925	142,760	125,764	130,472	133,842	150,480	125,779	132,514	141,193	159,038	129,413	137,672	168,518	200,192	101,064	113,456	132,636	160,878	100,327	107,333	151,453
EBITDA Margin	62.4%	74.5%	81.8%	61.4%	60.0%	71.6%	76.8%	74.4%	67.9%	87.1%	174.8%	89.4%	85.7%	70.5%	73.8%	88.6%	79.9%	69.7%	76.1%	86.1%	69.1%	78.2%	84.5%	83.8%	80.4%	74.7%	79.4%	77.7%	75.2%	77.0%	78.9%	81.0%	74.7%	75.7%	79.5%	79.3%	74.8%	73.4%	92.4%	94.8%	65.3%	71.3%	73.8%	88.5%	60.2%	63.7%	72.2%
Ajusted EBITDA	-	-	-	-	-	-	-	-	-	-	54,218	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	154,956	153,054
Ajusted EBITDA Margin	-	-	-	-	-	-	-	-	-	-	58.4%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	85.0%	72.5%
Depreciation and Amortization	(8,300)	(5,537)	(5,209)	(5,275)	(5,056)	(6,010)	(6,523)	(8,142)	(8,029)	(9,801)	(9,750)	(10,061)	(10,318)	(10,269)	(11,445)	(15,040)	(16,719)	(21,825)	(23,180)	(23,856)	(24,336)	(25,184)	(25,918)	(27,307)	(27,847)	(27,223)	(26,751)	(26,500)	(26,479)	(26,381)	(26,743)	(26,729)	(27,069)	(27,274)	(27,468)	(27,830)	(31,104)	(31,524)	(31,948)	(33,446)	(37,004)	(37,282)	(36,509)	(38,205)	(37,144)	(38,727)	(39,679)
EBIT	26,849	44,136	50,101	39,482	36,243	51,721	58,544	62,746	52,580	72,660	152,673	84,410	69,223	58,093	63,270	98,381	78,700	78,326	89,244	119,301	78,313	97,157	108,788	116,700	101,177	94,364	101,174	116,260	99,285	104,091	107,099	123,751	98,710	105,240	113,725	131,208	98,309	106,148	136,570	166,746	64,060	76,174	96,127	122,673	63,183	68,606	111,774
EBIT Margin	47.7%	66.2%	74.1%	54.1%	52.6%	64.1%	69.1%	65.9%	58.9%	76.7%	164.3%	79.9%	74.6%	59.9%	62.5%	76.9%	65.9%	54.5%	60.4%	71.7%	52.7%	62.1%	68.3%	67.9%	63.0%	58.0%	62.8%	63.3%	59.3%	61.4%	63.1%	66.6%	58.6%	60.1%	64.1%	65.4%	56.8%	56.6%	74.9%	78.9%	41.4%	47.9%	53.5%	67.5%	37.9%	40.7%	53.3%
Financial Revenue (Expenses)	(5,964)	564	4,153	(1,859)	(4,791)	(1,702)	(11,566)	(12,400)	(11,046)	(9,051)	(13,445)	(15,861)	(13,109)	(11,444)	(8,060)	(31,399)	(20,750)	(21,183)	(31,485)	(39,654)	(28,143)	(37,759)	(40,123)	(53,931)	(51,853)	(52,919)	(53,816)	(51,179)	(43,478)	(43,387)	(42,827)	(39,688)	(26,175)	(30,114)	(31,957)	(31,131)	(27,852)	(29,061)	(27,323)	(23,095)	(23,559)	(18,294)	(19,713)	(25,881)	(6,853)	366,864	(209,767)
Income Tax and Social Contribution Tax	(8,162)	(6,989)	(11,374)	6,128	9,546	(7,040)	(16,261)	(3,574)	(9,320)	(9,561)	(10,024)	(15,585)	(8,776)	(11,105)	(10,247)	(10,543)	(9,815)	(7,009)	9,323	(14,289)	(5,042)	(11,498)	(10,222)	(20,583)	(10,612)	(6,357)	(6,735)	(15,309)	(5,188)	(9,729)	(11,211)	(17,415)	(14,432)	(14,559)	(16,190)	(24,000)	(15,004)	(16,975)	(22,332)	(31,830)	(28,048)	(11,591)	(14,848)	(14,776)	(16,490)	(156,463)	40,036
Net Profit	27,205	37,711	42,880	43,751	31,488	42,989	30,717	46,772	32,214	54,048	129,204	52,964	47,338	35,544	44,963	56,439	48,135	50,134	67,082	65,358	45,128	47,900	58,443	42,186	38,712	35,088	40,623	49,772	50,619	50,975	53,061	66,648	58,104	60,567	65,578	76,077	55,453	60,112	86,915	111,821	12,453	46,289	61,566	82,016	39,840	279,007	(57,957)
Net Margin	48.3%	56.5%	63.4%	60.0%	45.7%	53.3%	36.2%	49.1%	36.1%	57.1%	139.1%	50.1%	51.0%	36.7%	44.4%	44.1%	40.3%	34.9%	45.4%	39.3%	30.4%	30.6%	36.7%	24.5%	24.1%	21.6%	25.2%	27.1%	30.2%	30.1%	31.3%	33.3%	34.5%	34.6%	36.9%	37.9%	32.1%	32.0%	47.7%	52.9%	8.0%	29.1%	34.2%	45.1%	23.9%	165.7%	-27.6%
FFO	31,620	43,248	48,089	49,026	36,544	48,989	37,240	54,914	40,243	63,849	138,954	63,025	57,656	45,813	56,408	71,479	64,854	71,959	90,262	89,214	69,464	73,084	84,361	69,493	66,559	62,311	67,374	76,272	77,098	77,356	79,804	88,517	85,173	87,841	93,046	103,907	86,557	91,636	118,863	145,267	49,457	83,571	98,075	120,221	76,984	317,734	(18,278)
FFO Margin	56.1%	64.8%	71.1%	67.2%	53.0%	60.7%	43.9%	57.7%	45.1%	67.4%	149.6%	59.7%	62.1%	47.3%	55.8%	55.9%	54.3%	50.1%	61.1%	53.6%	46.7%	46.7%	52.9%	40.4%	41.5%	38.3%	41.8%	41.5%	46.1%	45.7%	47.0%	47.7%	50.6%	50.2%	52.4%	51.8%	50.0%	48.8%	65.2%	68.8%	31.9%	52.5%	54.5%	66.1%	46.2%	188.7%	-8.7%
(1) The Company's Independent Management Reporting, based on the consolidated financial statements, has been prepared to reflect Iguatemi's investment in all malls, including the equity stake held in JK Iguatemi - which was 50% up to March 31, 2014 and 64% as from April 1, 2014.
(2) Considera o investimento no JK Iguatemi consolidado via método de equivalência patrimonial.
(3)Adjusted EBITDA for the sale of Shopping Boulevard Rio Iguatemi and in 3Q19 for the sale of Iguatemi Caxias.

Gross Revenue

Gross Revenue - Managerial	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Gross Revenues (R$ '000)	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Rentals	46,958	53,754	54,796	57,701	54,808	63,274	66,118	72,261	69,614	73,661	80,234	85,169	78,765	83,967	84,905	103,869	97,762	107,071	110,251	121,776	110,412	115,567	117,965	128,571	121,438	126,861	128,066	143,912	131,250	133,868	138,120	148,315	132,971	138,430	139,769	158,100	138,848	147,376	148,754	163,525	151,941	143,279	143,038	163,617	152,886	169,434	182,553
Administration Fees	3,527	5,172	6,222	6,750	5,623	5,995	6,185	6,156	7,048	6,189	6,182	7,139	6,407	6,430	7,002	8,492	8,241	8,591	9,647	10,669	9,327	10,461	10,706	12,084	11,356	10,969	10,508	11,116	11,373	11,474	11,559	13,760	11,944	11,547	12,378	13,629	11,981	13,556	12,634	14,550	11,432	7,071	8,778	11,978	10,322	10,664	12,182
Parking	9,523	10,704	11,262	13,143	12,375	14,313	14,796	16,480	16,673	17,645	18,680	20,839	19,313	19,783	20,441	24,498	24,132	27,291	26,725	30,662	29,063	30,941	30,724	37,308	33,832	35,200	33,015	40,002	35,456	36,024	35,455	40,968	35,506	36,121	37,671	43,201	37,201	38,253	37,251	43,517	33,025	3,199	12,824	27,704	16,061	20,373	28,963
Other	2,659	5,110	3,274	3,880	4,106	6,513	8,534	11,965	9,171	11,207	14,516	18,667	10,979	11,858	13,608	19,389	14,967	16,270	18,966	24,041	16,805	18,747	18,366	18,637	13,792	15,924	15,166	18,013	14,469	15,427	12,701	15,249	11,864	15,065	12,355	15,592	8,979	14,857	10,820	19,426	8,445	6,440	14,623	24,837	16,853	27,688	31,540
Total	62,667	74,741	75,554	81,474	76,912	90,095	95,632	106,862	102,506	108,702	119,612	131,813	115,464	122,038	125,957	156,248	145,102	159,223	165,590	187,149	165,606	175,716	177,761	196,600	180,418	188,954	186,755	213,043	192,548	196,793	197,835	218,292	192,285	201,163	202,173	230,522	197,009	214,042	209,459	241,018	204,843	159,989	179,263	228,136	196,122	228,159	255,238
Rental Revenues (R$ '000)	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Minimum Rental	41,471	46,248	47,177	45,051	47,726	53,390	56,453	52,749	58,879	60,739	66,897	67,956	68,440	69,726	71,654	83,552	84,405	90,160	93,863	97,567	95,373	97,679	101,134	105,352	106,330	107,467	111,953	118,181	116,354	115,188	121,382	122,247	117,027	119,152	122,469	130,088	120,820	123,647	126,398	131,749	134,567	136,256	132,070	137,449	138,981	148,005	156,305
Percentage Revenues (Overage)	2,441	3,780	3,370	5,100	2,894	4,801	4,441	10,553	5,336	6,060	6,290	8,225	5,159	6,112	5,171	8,917	5,679	7,502	6,802	9,431	6,673	7,875	7,180	10,364	6,704	8,476	6,906	11,234	6,526	8,237	6,382	10,336	6,251	7,283	6,793	10,852	7,224	10,414	8,490	13,251	4,149	3,626	6,892	14,725	5,787	13,195	14,210
Temporary Rentals	3,046	3,727	4,250	7,550	4,188	5,083	5,224	8,959	5,399	6,861	7,047	8,987	5,166	8,129	8,080	11,400	7,678	9,408	9,587	14,778	8,366	10,013	9,651	12,854	8,405	10,918	9,207	14,497	8,370	10,443	10,356	15,732	9,693	11,995	10,507	17,160	10,804	13,315	13,866	18,525	13,225	3,397	4,076	11,443	8,118	8,234	12,038
Total	46,958	53,754	54,796	57,701	54,808	63,274	66,118	72,261	69,614	73,661	80,234	85,169	78,765	83,967	84,905	103,869	97,762	107,071	110,251	121,776	110,412	115,567	117,965	128,571	121,438	126,861	128,066	143,912	131,250	133,868	138,120	148,315	132,971	138,430	139,769	158,100	138,848	147,376	148,754	163,525	151,941	143,279	143,038	163,617	152,886	169,434	182,553

Costs and Expenses

Costs and Expenses - Managerial	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Managerial (R$ '000)	1T10	2T10	3T10	4T10	1T11	2T11	3T11	4T11	1T12	2T12	3T12	4T12	1T13	2T13	3T13	4T13	1T14	2T14	3T14	4T14	1T15	2T15	3T15	4T15	1T16	2T16	3T16	4T16	1T17	2T17	3T17	4T17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Rent and Services Costs	-10,000	-15,577	-13,451	-16,097	-14,367	-15,888	-14,753	-21,881	-17,212	-20,150	-25,800	-23,859	-20,764	-21,348	-20,699	-28,359	-24,106	-28,945	-29,187	-31,894	-29,633	-31,603	-30,344	-35,282	-27,267	-32,741	-27,822	-32,936	-30,195	-32,774	-28,932	-29,641	-29,332	-30,714	-29,766	-33,037	-33,510	-34,773	-35,646	-44,158	-34,790	-27,434	-38,998	-52,890	-47,286	-54,020	-62,302
Personnel	-6,869	-7,567	-7,642	-8,084	-7,629	-7,409	-7,024	-8,614	-7,924	-5,774	-5,959	-7,096	-6,329	-6,699	-6,690	-6,918	-6,356	-6,486	-6,664	-6,064	-5,373	-5,836	-6,115
Share-based Compensation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Third party services	-2,121	-2,241	-1,967	-2,767	-1,688	-3,223	-3,032	-2,086	-2,090	-2,080	-2,012	-3,178	-2,473	-1,841	-2,400	-4,548	-2,734	-442	-1,581	-3,331	-1,316	-2,786	-3,282
Rent and Condominium	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Promotional fund	-1,966	-2,050	423	-2,478	-696	-690	-584	-797	-545	-363	-447	-617	-486	-489	-488	-623	-472	-95	-313	-615	-494	-406	-562
Parking	-9,202	-9,594	-9,508	-10,141	-9,017	-9,022	-6,295	-4,739	-7,390	-7,092	-6,933	-5,364	-8,069	-8,335	-8,433	-8,803	-8,187	-6,603	-8,160	-8,816	-8,841	-6,243	-7,477
Taxes, fees, legal costs	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Others	-7,109	-11,289	-9,128	-9,466	-11,165	-12,430	-11,997	-13,405	-11,383	-15,405	-14,415	-16,782	-16,153	-17,409	-17,635	-23,266	-17,041	-13,808	-22,280	-34,064	-31,262	-38,749	-44,866
Expenses	-11,357	-12,840	-12,123	-19,157	-13,721	-15,538	-25,761	-21,183	-13,679	-17,128	-24,016	-23,780	-14,127	-17,984	-21,442	-29,107	-17,269	-17,803	-16,662	-15,098	-15,055	-15,160	-13,931	-18,838	-13,768	-13,240	-10,617	-8,388	-11,509	-13,910	-11,713	-16,403	-16,131	-17,922	-16,703	-24,315	-15,011	-19,890	-17,998	-19,187	-16,445	-11,495	-13,465	-15,192	-16,468	-20,416	-19,774
Personnel	-8,332	-7,744	-6,329	-2,414	-6,292	-8,576	-7,122	-10,126	-10,463	-10,684	-8,553	-15,591	-8,279	-12,224	-11,531	-10,669	-6,172	-4,692	-6,890	-6,233	-8,011	-12,693	-10,428
Share-based Compensation	-347	-348	-348	-348	-66	0	0	0	0	-864	-1,295	-1,296	-1,371	-1,870	-1,620	-1,620	-2,097	-2,096	-1,950	-1,948	-2,137	-2,137	-2,138
Third party services	-2,062	-2,359	-1,238	-2,533	-2,113	-2,159	-1,925	-3,207	-2,634	-2,867	-3,817	-3,687	-2,111	-3,682	-3,058	-4,120	-5,494	-2,514	-2,514	-4,699	-3,821	-3,591	-4,483
Rent and Condominium	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Promotional fund	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Parking	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Taxes, fees, legal expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Others	-3,027	-2,789	-2,702	-3,093	-3,038	-3,175	-2,666	-3,070	-3,034	-3,507	-3,038	-3,741	-3,250	-2,114	-1,789	-2,778	-2,682	-2,193	-2,111	-2,312	-2,499	-1,995	-2,725
Sub Total	-21,357	-28,417	-25,574	-35,254	-28,088	-31,426	-40,514	-43,064	-30,891	-37,278	-49,816	-47,639	-34,891	-39,332	-42,141	-57,465	-41,375	-46,748	-45,849	-46,993	-44,688	-46,764	-44,276	-54,120	-41,035	-45,981	-38,439	-41,324	-41,704	-46,684	-40,645	-46,044	-45,463	-48,636	-46,469	-57,352	-48,521	-54,663	-53,644	-63,345	-51,235	-38,929	-52,463	-68,082	-63,754	-74,436	-82,076
Depreciation and Amortization	-4,414	-5,537	-5,209	-5,275	-5,056	-6,010	-6,523	-8,142	-8,357	-9,509	-11,208	-11,594	-11,892	-12,057	-13,260	-16,879	-18,574	-21,824	-23,180	-23,857	-24,335	-25,185	-25,918	-27,307	-27,847	-27,223	-26,751	-26,500	-26,479	-26,381	-26,743	-26,729	-27,069	-27,274	-27,468	-27,830	-31,104	-31,524	-31,948	-33,446	-37,005	-37,281	-36,509	-38,205	-37,144	-38,727	-39,679
Total	-25,771	-33,954	-30,783	-40,529	-33,144	-37,436	-47,037	-51,206	-39,248	-46,787	-61,024	-59,233	-46,782	-51,389	-55,401	-74,344	-59,949	-68,572	-69,029	-70,849	-69,023	-71,948	-70,194	-81,427	-68,882	-73,204	-65,190	-67,824	-68,183	-73,065	-67,388	-72,773	-72,532	-75,910	-73,937	-85,182	-79,625	-86,187	-85,592	-96,791	-88,240	-76,210	-88,972	-106,287	-100,898	-113,163	-121,755

Other Op. Revenue (Expenses)

Other Operational Revenues (Expenses)	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Other Operational Revenues (Expenses) (R$ '000)	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Property development (1)	-	8,000	11,800	-	-	10,700	-	4,517	-	24,300	-	6,364	14,100	-	-	11,300	7,000	-	6,500	9,300	-	-	6,780	12,400	-	-	0	0	0	0	0	0	0	0	0	14,750	0	0	20,116	0	0	0	0	18,925	0	0	19,865
Other	189	3,402	1,486	7,077	509	-2,178	20,824	14,204	1,156	-1,721	110,636	20,130	318	2,481	6,765	22,904	1,693	3,084	3,824	14,293	-1,460	12,520	12,604	13,613	9,354	4,534	5,010	91	-180	7,444	4,499	10,526	2,493	5,852	9,828	871	4,636	4,369	19,375	52,013	-2,984	-7,394	4,066	26,658	-4,432	12,788	3,301
Other Operational Revenues (Expenses)	189	11,402	13,286	7,077	509	8,522	20,824	18,721	1,156	22,579	110,636	26,494	14,418	2,481	6,765	34,204	8,693	3,084	10,324	23,593	-1,460	12,520	19,384	26,013	9,354	4,534	5,010	91	-180	7,444	4,499	10,526	2,493	5,852	9,828	15,621	4,636	4,369	39,491	52,013	-2,984	-7,394	4,066	45,583	-4,432	12,788	23,166
(1) Net amount.

Consolidated Statement

Consolidated Statement of financial position	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
ASSETS (R$ '000) - Managerial	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	2T21	2T21
Current assets	662,316	619,116	668,308	723,472	1,090,149	1,041,299	935,768	837,686	1,159,586	962,544	1,422,882	1,084,865	1,444,360	1,422,882	1,463,009	1,309,983	1,167,095	787,853	964,845	900,383	623,318	571,326	648,115	625,219
Cash & cash equivalents	618,027	557,788	592,831	628,246	1,004,289	942,908	830,561	721,488	1,048,966	784,842	1,271,735	937,795	1,293,204	1,271,735	1,287,666	1,064,869	948,757	560,488	682,414	656,606	411,705	368,660	420,078	392,982
Accounts receivable	28,477	41,462	52,982	70,319	66,611	75,206	83,514	90,021	80,732	81,373	110,568	106,276	104,542	110,568	118,660	201,647	184,280	183,303	203,225	186,650	148,554	137,769	165,875	176,220
Taxes recoverable	9,023	10,511	11,191	13,589	12,883	15,099	13,683	19,586	17,834	26,630	25,907	30,350	31,703	25,907	26,696	33,809	21,763	25,425	41,745	27,951	26,264	26,960	25,518	21,944
Loans recoverable	329	240	302	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other credits	5,571	8,996	10,982	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid Expenses	67	119	20	651	2,129	1,933	1,413	216	4,145	3,626	3,371	529	4,318	3,371	1,434	629	3,399	8,757	4,255	6,431	11,913	10,064	8,361	6,844
Inventory	822	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Current Assets	-	-	-	10,667	4,237	6,153	6,597	6,375	7,909	66,073	11,301	9,915	10,593	11,301	28,553	9,029	8,896	9,880	33,206	22,745	24,882	27,873	28,283	27,229
Noncurrent assets	1,358,748	1,412,977	1,490,713	1,570,859	1,660,942	1,784,028	1,868,808	2,059,346	2,119,154	2,240,355	2,878,613	2,487,330	2,688,233	2,878,613	3,126,682	3,347,966	3,466,480	3,804,831	3,884,844	4,010,961	4,097,855	4,170,944	4,262,556	4,432,331
Long term assets	92,825	104,964	115,511	50,280	46,588	72,232	85,834	83,478	82,811	126,260	221,942	172,089	214,658	221,942	268,012	167,144	177,970	188,398	196,164	224,629	255,167	270,205	274,124	292,097
Accounts receivable	- 0	6,423	20,605	20,781	20,552	31,358	30,773	28,946	27,095	56,066	72,106	63,032	98,506	72,106	73,884	28,986	32,254	42,561	31,331	71,575	62,969	65,701	65,798	83,855
Deferred taxes	8,165	8,165	8,219	8,822	8,578	9,590	9,810	9,535	10,152	11,975	18,282	16,063	18,235	18,282	19,555	20,572	24,185	32,781	43,849	40,214	51,478	57,993	67,399	68,672
Owed by related parties	32,694	38,442	36,776	15,603	12,489	26,420	39,096	38,641	40,489	52,149	52,642	58,455	73,196	52,642	55,214	79,345	80,471	68,677	75,414	104,443	127,959	133,811	129,431	129,848
Loans receivable	6,600	3,738	1,525	1,223	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Expropriations to receive	1,402	1,402	1,402	1,402	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Judicial Deposits	25,582	25,916	26,284	2,449	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Credit	18,382	20,878	20,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets - non-current	-	-	-	-	4,969	4,864	6,155	6,356	5,075	6,070	78,912	34,539	24,721	78,912	119,359	38,241	41,060	44,379	45,570	8,397	12,761	12,700	11,496	9,722
Investments	651	308	441	1,400,897	1,496,669	1,593,087	1,659,787	1,846,533	1,908,961	1,985,052	2,527,177	2,184,520	2,343,355	2,527,177	2,729,877	3,052,141	3,162,137	3,490,518	3,563,716	3,661,318	3,718,303	3,777,816	3,865,959	4,018,102
Stockholdings	-	-	-	924	-	981	899	979	979	1,058	1,744	1,058	1,181	1,744	1,990	2,056	2,105	11,189	11,263	11,225	11,221	11,219	11,204	14,490
Investment properties	-	-	-	1,399,973	-	1,592,106	1,658,888	1,845,554	1,907,982	1,983,994	2,525,433	2,183,462	2,342,174	2,525,433	2,727,887	3,050,085	3,160,032	3,479,329	3,552,453	3,650,093	3,707,082	3,766,597	3,854,755	4,003,612
Property, plant and equipment	1,165,473	1,203,839	1,269,773	13,743	10,821	10,551	13,589	18,809	17,969	20,167	20,325	21,726	21,071	20,325	19,966	19,846	19,103	20,336	20,281	19,970	19,589	19,134	19,526	19,530
Intangible assets	99,799	103,866	104,988	105,939	106,864	108,158	109,598	110,526	109,413	108,876	109,169	108,995	109,149	109,169	108,827	108,835	107,270	105,579	104,683	105,044	104,796	103,789	102,947	102,602
Total assets	2,021,064	2,032,093	2,159,021	2,294,331	2,751,091	2,825,327	2,804,576	2,897,032	3,278,740	3,202,899	4,301,495	3,572,196	4,132,593	4,301,495	4,589,691	4,657,949	4,633,575	4,592,684	4,849,689	4,911,344	4,721,173	4,742,270	4,910,671	5,057,550
LIABILES (R$ '000) - Managerial	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	2T21	2T21
Current liabilities	148,322	86,906	103,000	145,979	152,486	197,071	233,544	254,506	260,987	236,223	303,753	322,188	378,183	303,753	323,250	384,420	488,546	427,525	408,974	511,382	462,192	486,415	400,059	550,704
Payroll-associated and employment-law obligations	10,546	6,381	11,814	12,968	6,927	10,124	13,863	15,754	10,684	13,875	14,552	20,587	23,617	14,552	16,513	21,943	16,152	17,271	18,371	20,883	14,199	19,416	23,228	26,977
Suppliers	9,693	7,810	9,906	8,741	14,759	16,390	29,124	20,549	24,000	19,043	25,313	20,564	25,489	25,313	30,591	36,065	32,357	40,854	37,714	40,654	38,239	29,404	24,858	29,215
Tax issues	14,656	13,209	17,494	12,949	15,889	18,981	21,582	17,913	15,034	14,922	15,498	27,167	19,051	15,498	19,151	39,025	24,363	21,033	28,634	23,171	19,637	19,179	21,321	20,053
Loans and financings	18,455	20,729	20,708	20,840	20,931	22,173	33,038	59,185	76,918	87,703	93,909	96,303	103,877	93,909	100,349	111,575	111,871	115,675	116,290	125,751	126,605	143,566	140,838	151,320
Debentures	5,800	1,451	7,249	1,747	7,308	81,400	77,698	80,939	81,020	89,479	96,132	84,914	77,073	96,132	79,960	106,034	245,013	205,302	179,126	211,489	176,940	206,498	181,052	213,830
Dividends and interest on own capital	46,765	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable	42,407	37,326	35,829	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities	-	-	-	88,734	86,672	48,003	58,239	60,166	53,331	11,201	58,349	72,653	129,076	58,349	76,686	69,778	58,790	27,390	28,839	89,434	86,572	68,352	8,762	109,309
Noncurrent liabilities	467,204	504,967	576,406	660,094	1,079,660	1,083,300	999,347	1,063,665	1,414,580	1,324,665	1,771,204	1,476,738	1,927,094	1,771,204	1,959,774	1,955,995	1,779,839	1,762,933	1,959,849	1,906,157	1,717,796	1,677,866	1,873,694	1,872,866
Loans and financings	117,543	155,929	218,244	276,316	348,576	417,379	409,885	482,972	525,472	505,327	496,114	622,887	593,879	496,114	640,767	678,219	662,139	636,617	850,337	822,066	799,052	762,508	958,933	958,889
Debêntures	199,334	199,386	199,437	199,488	529,754	460,344	460,572	460,799	759,609	692,984	1,075,216	693,605	1,141,085	1,075,216	1,075,771	1,077,009	913,558	914,801	915,607	917,060	754,536	756,191	757,232	759,161
Liabilities owed to related parties	35,474	35,965	37,028	40,095	53,798	40,859	-	-	-	-	9,440	- 0	17,888	9,440	1,350	1,650	1,783	300	367	367	500	567	600	513
Taxes and Contributions	14,932	17,185	18,054	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable	7,596	7,980	7,858	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Others	-	-	-	22,640	18,855	28,757	16,362	13,513	16,902	9,351	21,905	21,567	21,238	21,905	65,410	55,697	58,424	41,725	26,925	4,326	3,873	2,889	4,087	1,301
Deferred taxes	23,637	23,805	30,788	12,218	977	2,643	26,408	25,342	28,053	32,654	46,360	39,457	44,181	46,360	50,133	43,752	58,004	64,666	67,821	70,845	74,400	78,669	81,858	88,696
Provisions	68,688	64,717	64,997	66,497	65,061	60,389	25,438	20,330	21,406	21,227	33,564	33,455	33,508	33,564	33,635	13,459	13,424	13,390	13,291	14,419	14,385	14,350	14,316	13,800
Profits and revenues to be appropriated	-	-	-	42,840	62,639	72,929	60,682	60,709	63,138	63,122	88,605	65,767	75,315	88,605	92,708	86,209	72,507	91,434	85,501	77,074	71,050	62,692	56,668	50,506
Stockholders' equity	1,405,538	1,440,220	1,479,615	1,488,258	1,518,945	1,544,956	1,571,685	1,578,861	1,603,173	1,642,011	2,226,538	1,773,269	1,827,316	2,226,538	2,306,667	2,317,533	2,365,190	2,402,226	2,480,866	2,493,805	2,541,185	2,577,989	2,636,918	2,633,980
Paid-up share capital	818,125	818,125	818,125	823,859	-	823,859	823,859	823,859	823,859	823,859	1,186,729	823,859	823,859	1,186,729	1,233,163	1,232,002	1,232,002	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313
Capital reserves	457,622	457,638	457,585	453,818	453,008	453,470	483,960	455,148	447,256	451,784	469,454	464,767	467,244	469,454	458,185	457,623	457,220	458,890	470,907	473,382	476,250	471,243	472,514	473,233
Profit reserves	129,586	104,946	104,946	210,424	241,912	267,449	263,659	299,687	331,890	279,949	483,084	484,486	484,486	483,084	483,084	439,234	623,866	607,718	607,693	782,493	782,493	776,939	776,939	922,646
Accumulated profit (loss)	-	59,334	98,771	-	-	-	-	-	-	-	83,028	- 0	47,328	83,028	128,087	184,632	48,191	97,823	164,418	- 0	44,515	91,746	149,609	- 0
Minority interests	205	177	188	157	-	178	207	167	168	183	4,243	157	4,399	4,243	4,148	4,042	3,911	6,482	6,535	6,617	6,614	6,748	6,543	6,788
Total Liabilities	2,021,064	2,032,093	2,159,021	2,294,331	2,751,091	2,825,327	2,804,576	2,897,032	3,278,740	3,202,899	4,301,495	3,572,196	4,132,593	4,301,495	4,589,691	4,657,949	4,633,575	4,592,684	4,849,689	4,911,344	4,721,173	4,742,270	4,910,671	5,057,550
ASSETS (R$ '000) - Formal Accounting	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Current assets	662,316	619,116	668,308	723,472	1,090,149	1,041,299	935,768	837,686	1,159,586	962,544	1,404,090	1,063,686	1,422,810	1,404,090	1,446,068	1,293,900	1,153,691	787,795	964,488	900,267	623,062	571,245	647,895	625,173	527,350	538,759	707,845	722,141	509,401	502,703	742,693	657,483	521,571	787,608	739,526	839,215	793,353	833,943	932,509	1,140,812	1,031,861	1,382,142	1,334,901	1,814,998	1,764,042	1,594,010	1,760,053
Cash	618,027	557,788	592,831	628,246	1,004,289	942,908	830,561	721,488	1,048,966	784,842	1,261,990	929,742	1,281,906	1,261,990	1,280,712	1,057,145	942,703	560,430	682,059	656,490	411,449	368,580	419,859	392,936	291,091	300,511	465,718	523,857	330,410	323,899	524,713	452,827	337,494	595,356	563,071	652,371	616,604	650,036	681,161	969,584	901,852	1,137,336	1,101,680	1,571,202	1,507,509	1,294,879	1,454,932
Accounts receivable	28,477	41,462	52,982	70,319	66,611	75,206	83,514	90,021	80,732	81,373	102,092	93,206	94,875	102,092	109,055	193,428	177,731	183,303	203,223	186,650	148,554	137,769	165,875	176,220	172,719	179,965	172,328	154,497	123,595	132,708	143,587	144,139	118,096	132,722	124,077	134,895	106,236	116,716	135,820	133,216	70,565	193,453	189,226	205,370	186,182	216,958	235,605
Taxes recoverable	9,023	10,511	11,191	13,589	12,883	15,099	13,683	19,586	17,834	26,630	25,882	30,321	31,698	25,882	26,612	33,724	21,744	25,425	41,745	27,951	26,264	26,960	25,518	21,944	21,230	19,497	24,289	23,133	22,085	20,803	41,621	43,317	39,344	35,404	30,030	32,690	34,655	35,114	31,509	21,133	29,723	23,412	17,345	17,902	24,407	22,055	30,917
Prepaid expenses	67	119	20	651	2,129	1,933	1,413	216	4,145	3,626	2,901	522	3,761	2,901	1,207	627	2,681	8,757	4,255	6,431	11,913	10,063	8,360	6,844	14,138	11,901	9,494	7,753	15,069	12,213	10,241	7,061	15,038	12,119	9,308	7,263	16,351	12,857	9,740	6,441	17,311	13,431	9,873	6,408	19,476	12,129	10,066
Other current assets	6,722	9,236	11,284	10,667	4,237	6,153	6,597	6,375	7,909	66,073	11,225	9,895	10,570	11,225	28,482	8,976	8,832	9,880	33,206	22,745	24,882	27,873	28,283	27,229	28,172	26,885	36,016	12,901	18,242	13,080	22,531	10,139	11,599	12,007	13,040	11,996	19,507	19,220	74,279	10,438	12,410	14,510	16,777	14,116	26,468	47,989	28,533
Noncurrent assets	1,358,748	1,412,977	1,490,713	1,570,859	1,660,942	1,784,028	1,868,808	2,059,346	2,119,154	2,240,355	2,846,446	2,466,464	2,646,932	2,846,446	3,102,290	3,324,923	3,441,895	3,804,568	3,885,221	4,010,701	4,097,579	4,170,408	4,262,165	4,431,845	4,457,707	4,461,485	4,487,977	4,428,793	4,527,723	4,531,646	4,530,111	4,392,902	4,393,534	4,397,178	4,411,086	4,450,988	4,455,416	4,452,019	4,393,090	4,488,081	4,864,048	4,863,766	4,959,758	5,050,049	5,063,987	5,437,193	5,293,937
Long term assets	92,825	104,964	115,511	50,280	46,588	72,232	85,834	83,478	82,811	126,260	258,534	240,933	266,200	258,534	295,731	195,231	205,556	188,548	196,771	224,812	255,416	270,491	274,424	292,333	288,611	297,452	325,100	261,201	348,991	360,254	363,508	183,690	177,742	175,268	166,846	174,174	166,964	168,094	178,409	214,924	216,969	222,368	330,611	413,434	429,376	806,865	651,269
Financial Investments	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	33,059	33,724	35,401	35,936	36,589	36,802	36,294	36,867	30,932	31,384	31,848	32,276	52,976	58,884	60,503	64,573	102,995	108,108	482,040	356,484
Accounts receivable	28,477	41,462	52,982	20,781	20,552	31,358	30,773	28,946	27,095	56,066	72,127	63,032	98,506	72,127	73,884	28,986	32,254	42,561	31,331	71,575	62,969	65,701	65,798	83,855	72,228	72,231	76,917	84,668	80,206	79,484	78,922	22,029	17,112	16,147	16,075	27,498	25,418	27,962	34,326	48,651	41,290	38,653	137,662	164,820	165,986	180,829	204,823
Deferred taxes	8,165	8,165	8,219	8,822	8,578	9,590	9,810	9,535	10,152	11,975	17,936	15,717	17,889	17,936	19,209	20,572	24,185	32,781	43,849	40,214	51,478	57,993	67,399	68,672	76,647	88,662	100,806	25,040	118,727	126,804	132,991	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Owed by related parties	32,694	38,442	36,776	15,603	12,489	26,420	39,096	38,641	40,489	52,149	89,555	124,587	125,080	89,555	83,275	107,433	108,059	68,827	76,021	104,626	128,209	134,097	129,731	130,084	129,977	126,240	137,114	101,604	99,683	101,838	99,166	75,099	70,976	69,846	58,367	58,134	49,926	45,341	46,084	46,078	46,183	53,296	48,674	57,651	55,488	46,363	39,764
Other assets - non-current	17,918	7,899	6,552	5,074	4,969	4,864	6,155	6,356	5,075	6,070	78,916	37,597	24,725	78,916	119,363	38,240	41,058	44,379	45,570	8,397	12,760	12,700	11,496	9,722	9,759	10,319	10,263	16,830	16,651	16,727	16,493	49,973	52,852	52,981	55,537	57,610	60,236	62,943	65,723	67,219	70,612	69,916	79,702	87,968	99,794	97,633	50,198
Others Credits	5,571	8,996	10,982	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	72,231	76,917	- 0	- 0	- 0	- 0	- 0	- 0	- 0	-	- 0	- 0	- 0	- 0	- 0	- 0
Investments	651	308	441	1,400,897	1,496,669	1,593,087	1,659,787	1,846,533	1,908,961	1,985,052	2,458,519	2,094,937	2,250,622	2,458,519	2,677,854	3,001,086	3,110,028	3,490,105	3,563,486	3,660,875	3,717,778	3,776,994	3,865,268	4,017,380	4,041,192	4,038,231	4,038,325	4,044,136	4,056,429	4,050,232	4,046,626	4,088,742	4,095,789	4,101,200	4,121,816	4,151,153	4,135,684	4,133,004	4,087,767	4,121,330	4,497,622	4,494,396	4,487,566	4,494,097	4,490,757	4,484,220	4,487,512
Stockholdings	-	-	-	924	-	981	899	979	979	1,058	210,071	171,764	174,940	210,071	227,286	228,226	228,473	13,581	13,839	13,593	13,753	13,532	13,706	17,373	18,361	18,584	18,301	18,334	19,153	19,397	19,102	20,597	20,311	21,371	24,173	29,526	29,560	29,628	29,715	30,226	159,476	160,282	161,304	162,696	164,164	169,174	169,346
Investment properties	-	-	-	1,399,973	-	1,592,106	1,658,888	1,845,554	1,907,982	1,983,994	2,248,448	1,923,173	2,075,682	2,248,448	2,450,568	2,772,860	2,881,555	3,476,524	3,549,647	3,647,282	3,704,025	3,763,462	3,851,562	4,000,007	4,022,831	4,019,647	4,020,024	4,025,802	4,037,276	4,030,835	4,027,524	4,068,145	4,075,478	4,079,829	4,097,643	4,121,627	4,106,124	4,103,376	4,058,052	4,091,104	4,338,146	4,334,114	4,326,262	4,331,401	4,326,593	4,315,046	4,318,166
Property, plant and equipment	1,165,473	1,203,839	1,269,773	13,743	10,821	10,551	13,589	18,809	17,969	20,167	20,325	21,726	21,071	20,325	19,966	19,846	19,103	20,336	20,281	19,970	19,589	19,134	19,526	19,530	24,874	24,020	23,922	23,026	22,636	22,200	21,490	21,391	20,947	20,842	20,444	20,107	48,160	46,257	20,940	36,186	34,911	34,040	29,833	31,109	33,323	36,832	46,887
Intangible assets	99,799	103,866	104,988	105,939	106,864	108,158	109,598	110,526	109,413	108,876	109,068	108,868	109,039	109,068	108,739	108,760	107,208	105,579	104,683	105,044	104,796	103,789	102,947	102,602	103,030	101,782	100,630	100,430	99,667	98,960	98,487	99,079	99,056	99,868	101,980	105,554	104,608	104,664	105,974	115,641	114,546	112,962	111,748	111,409	110,531	109,276	108,269
Total assets	2,021,064	2,032,093	2,159,021	2,294,331	2,751,091	2,825,327	2,804,576	2,897,032	3,278,740	3,202,899	4,250,536	3,530,150	4,069,742	4,250,536	4,548,358	4,618,823	4,595,586	4,592,363	4,849,709	4,910,968	4,720,641	4,741,653	4,910,060	5,057,018	4,985,057	5,000,244	5,195,822	5,150,934	5,037,124	5,034,349	98,487	5,050,385	4,915,105	5,184,786	5,150,612	5,290,203	5,248,769	5,285,962	5,325,599	5,628,893	5,895,909	6,245,908	6,294,659	6,865,047	6,828,029	7,031,203	7,053,990

LIABILITIES (R$ '000) - Formal Accounting	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3T17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Current liabilities	148,322	86,906	103,000	145,979	152,486	197,071	233,544	254,506	260,987	236,223	293,624	311,521	367,079	294,140	313,553	375,564	478,914	427,504	409,361	511,373	462,160	486,362	400,048	550,685	445,164	481,499	391,391	428,613	364,579	415,804	345,538	321,527	336,079	374,039	303,140	248,585	195,395	262,798	218,268	263,324	358,622	568,251	706,933	784,105	739,174	553,991	312,956
Payroll-associated and employment-law obligations	10,546	6,381	11,814	12,968	6,927	10,124	13,863	15,754	10,684	13,875	14,429	20,477	23,497	14,429	16,394	21,836	16,049	17,271	18,371	20,883	14,199	19,416	23,228	26,977	18,157	23,495	26,536	23,172	15,866	20,486	22,532	22,302	15,332	19,453	23,154	27,386	17,930	22,848	28,266	26,723	18,637	20,458	20,101	12,606	17,417	24,577	28,817
Suppliers	9,693	7,810	9,906	8,741	14,759	16,390	29,124	20,549	24,000	19,043	18,562	12,223	16,817	18,562	24,098	29,442	25,562	40,921	37,682	40,654	38,237	29,364	24,858	29,212	35,581	13,860	12,838	11,374	11,372	8,681	11,403	21,966	9,260	9,871	7,432	15,368	13,938	12,569	10,029	14,275	15,266	16,823	14,649	23,120	15,928	14,883	18,839
Tax issues	14,656	13,209	17,494	12,949	15,889	18,981	21,582	17,913	15,034	14,922	13,489	25,385	17,460	13,489	16,893	36,904	21,964	21,017	28,630	23,163	19,629	19,168	21,312	20,041	25,035	35,227	34,111	19,704	24,733	32,955	58,700	22,320	26,122	23,280	20,417	24,983	29,537	25,520	25,387	17,561	22,407	21,289	13,148	22,116	23,400	18,718	11,653
Loans and financings	18,455	20,729	20,708	20,840	20,931	22,173	33,038	59,185	76,918	87,703	93,909	96,303	103,877	93,909	100,349	111,575	111,871	115,675	113,290	125,751	126,605	143,566	140,838	151,320	147,239	148,220	142,197	134,499	105,345	105,246	84,460	29,072	18,219	31,982	30,190	34,785	36,392	48,462	45,520	51,931	47,709	254,273	537,465	578,055	615,173	454,954	204,796
Debentures	5,800	1,451	7,249	1,747	7,308	81,400	77,698	80,939	81,020	89,479	96,132	84,914	77,073	96,132	79,960	106,034	245,013	205,302	179,126	211,489	176,940	206,498	181,052	213,830	163,406	189,739	165,586	191,095	158,396	174,612	158,018	169,828	203,152	211,020	204,680	65,268	54,086	62,609	55,797	62,973	73,889	78,675	78,481	83,914	1,941	9,126	13,783
Other liabilities	-	-	-	88,734	86,672	48,003	58,239	60,166	53,331	11,201	57,103	72,219	128,355	57,619	75,859	69,773	58,455	27,318	29,262	89,433	86,550	68,350	8,760	109,305	55,746	70,958	10,123	48,769	48,867	73,824	10,425	56,039	63,994	78,433	17,267	80,795	43,512	90,790	53,269	89,861	180,714	176,733	43,089	64,294	65,315	31,733	35,068
Dividends and interest on own capital	46,765	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	- 0	- 0	- 0	- 0	- 0	- 0	- 0	-	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Provisions	42,407	37,326	35,829	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	- 0	- 0	- 0	- 0	- 0	- 0	- 0	-	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Noncurrent liabilities	467,204	504,967	576,406	660,094	1,079,660	1,083,300	999,347	1,063,665	1,414,580	1,324,665	1,730,374	1,441,128	1,875,347	1,729,858	1,928,138	1,925,726	1,751,482	1,762,633	1,959,482	1,905,790	1,717,296	1,677,302	1,873,094	1,872,353	1,867,567	1,829,408	2,071,732	1,980,783	1,895,565	1,868,063	2,129,342	1,976,317	1,771,918	2,020,563	2,019,643	2,195,284	2,153,091	2,150,617	2,146,629	2,365,507	2,529,081	2,626,727	2,474,316	2,931,614	2,897,575	3,009,121	3,331,343
Loans and financings	117,543	155,929	218,244	276,316	348,576	417,379	409,885	482,972	525,472	505,327	496,114	622,887	593,879	496,114	640,767	678,219	662,139	636,617	850,337	822,066	799,052	762,508	958,933	958,889	1,103,988	1,077,673	1,322,145	1,300,298	1,285,648	1,270,208	1,527,626	1,473,670	1,469,258	1,714,975	1,710,544	1,625,313	1,617,214	1,612,300	1,605,451	1,798,451	2,016,139	1,805,183	1,643,079	1,605,327	1,560,256	1,513,575	1,388,086
Debentures	199,334	199,386	199,437	199,488	529,754	460,344	460,572	460,799	759,609	692,984	1,075,216	693,605	1,141,085	1,075,216	1,075,771	1,077,009	913,558	914,801	915,607	917,060	754,536	756,191	757,232	759,161	611,162	612,674	613,663	614,154	465,093	465,696	465,953	466,715	267,599	268,277	269,307	515,953	463,290	464,383	464,752	465,457	393,002	686,549	689,299	1,187,234	1,188,105	1,188,977	1,687,184
Liabilities owed to related parties	35,474	35,965	37,028	40,095	53,798	40,859	-	-	-	-	516	- 0	-	- 0	- 0	- 0	- 0	-	- 0	- 0	- 0	- 0	-	- 0	- 0	- 0	-	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	16,391	14,462	5,399	4,744	4,349	4,348	3,810	2,822	2,229	1,575	982
Other	22,528	25,165	25,912	22,640	18,855	28,757	16,362	13,513	16,902	9,351	21,852	21,486	21,171	21,852	65,372	55,675	58,415	41,725	26,925	4,326	3,873	2,892	4,087	1,301	1,233	1,221	1,152	1,028	953	871	1,395	1,865	1,581	1,480	1,377	278	164	295	4,392	12,270	12,271	11,305	7,271	7,271	11,011	7,269	10,056
Deferred taxes	23,637	23,805	30,788	12,218	977	2,643	26,408	25,342	28,053	32,654	41,653	34,458	39,231	41,653	45,619	39,597	54,144	64,666	67,821	70,845	74,400	78,669	81,858	88,696	92,797	85,004	88,250	24,599	109,162	97,623	103,852	6,257	8,651	13,098	16,282	31,091	34,760	38,742	45,439	59,236	77,706	94,479	105,918	103,555	110,541	272,283	211,981
Provisions	68,688	64,717	64,997	66,497	65,061	60,389	25,438	20,330	21,406	21,227	33,564	33,455	33,508	33,564	33,635	13,459	13,424	13,390	13,291	14,419	14,385	14,350	14,316	13,800	13,800	13,800	13,800	14,031	14,055	14,055	14,053	13,829	13,708	14,456	16,742	18,896	18,896	18,896	20,224	24,957	24,862	24,863	24,939	25,405	25,433	25,442	33,054
Profits and revenues to be appropriated	-	-	-	42,840	62,639	72,929	60,682	60,709	63,138	63,122	61,459	35,237	46,473	61,459	66,974	61,767	49,802	91,434	85,501	77,074	71,050	62,692	56,668	50,506	44,587	39,036	32,722	26,673	20,654	19,610	16,463	13,981	11,121	8,277	5,391	3,753	2,376	1,539	972	392	752	- 0	- 0	- 0	- 0	- 0	- 0
Stockholders' equity	1,405,538	1,440,220	1,479,615	1,488,258	1,518,945	1,544,956	1,571,685	1,578,861	1,603,173	1,642,011	2,226,538	1,777,501	1,827,316	2,226,538	2,306,667	2,317,533	2,365,190	2,402,226	2,480,866	2,493,805	2,541,185	2,577,989	2,636,918	2,633,980	2,672,326	2,689,337	2,732,699	2,741,538	2,776,980	2,750,482	2,797,924	2,752,541	2,807,108	2,790,184	2,827,829	2,846,334	2,900,283	2,872,547	2,960,702	3,000,062	3,008,206	3,050,930	3,113,410	3,149,328	3,191,280	3,468,091	3,409,691
Paid-up share capital	818,125	818,125	818,125	823,859	-	823,859	823,859	823,859	823,859	823,859	1,186,729	823,859	823,859	1,186,729	1,233,163	1,232,002	1,232,002	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,231,313	1,275,657	1,275,657
Capital reserves	457,622	457,638	457,585	453,818	453,008	453,470	483,960	455,148	447,256	451,784	469,454	464,767	467,244	469,454	458,185	457,623	457,220	458,890	470,907	473,382	476,250	471,243	472,514	473,233	473,580	470,751	474,234	472,386	457,799	462,528	457,438	452,713	448,965	441,714	443,009	445,313	444,911	446,781	448,401	450,021	446,448	442,754	444,703	446,652	448,789	446,488	448,625
Profit reserves	129,586	104,946	104,946	210,424	241,912	267,449	263,659	299,687	331,890	279,949	483,084	484,486	484,486	483,084	483,084	623,866	623,866	607,716	607,693	782,493	782,493	776,939	776,939	922,646	922,646	908,031	908,031	1,031,238	1,031,238	949,614	949,614	1,060,010	1,061,075	992,312	963,561	1,159,038	1,159,038	1,069,924	1,069,924	1,306,397	1,306,397	1,306,397	1,306,397	1,460,607	1,460,607	1,416,263	1,414,295
Accumulated profit (loss)	-	59,334	98,771	-	-	-	-	-	-	-	83,028	- 0	47,328	83,028	128,087	- 0	48,191	97,823	164,418	- 0	44,515	91,746	149,609	- 0	38,209	72,629	112,685	- 0	50,010	100,378	152,794	- 0	57,337	116,942	181,424	- 0	54,399	113,459	199,469	- 0	11,834	58,621	120,364	- 0	40,350	318,754	260,007
Minority interests	205	177	188	157	-	178	207	167	168	183	4,243	4,389	4,399	4,243	4,148	4,042	3,911	6,484	6,535	6,617	6,614	6,748	6,543	6,788	6,578	6,613	6,436	6,601	6,620	6,649	6,765	8,505	8,418	7,903	8,522	10,670	10,622	11,070	11,595	12,331	12,214	11,845	10,633	10,756	10,221	10,929	11,107
Total Liabilities	2,021,064	2,032,093	2,159,021	2,294,331	2,751,091	2,825,327	2,804,576	2,897,032	3,278,740	3,202,899	4,250,536	3,530,150	4,069,742	4,250,536	4,548,358	4,618,823	4,595,586	4,592,363	4,849,709	4,910,968	4,720,641	4,741,653	4,910,060	5,057,018	4,985,057	5,000,244	5,195,822	5,150,934	5,037,124	5,034,349	5,272,804	5,050,385	4,915,105	5,184,786	5,150,612	5,290,203	5,248,769	5,285,962	5,325,599	5,628,893	5,895,909	6,245,908	6,294,659	6,865,047	6,828,029	7,031,203	7,053,990
ENDIVIDAMENTO	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Dívida Bruta (R$ mil)	341,132	377,495	445,638	498,391	906,569	981,296	981,193	1,083,895	1,443,019	1,375,493	1,761,371	1,497,709	1,915,914	1,761,371	1,896,847	1,972,837	1,932,581	1,872,395	2,058,360	2,076,366	1,857,133	1,868,763	2,038,055	2,083,200	2,025,795	2,028,306	2,243,591	2,240,046	2,014,482	2,015,762	2,236,057	2,139,285	1,908,484	2,175,229	2,160,834	2,186,154	2,113,236	2,127,318	2,110,291	2,315,664	2,464,241	2,758,942	2,880,758	3,379,504	3,286,558	3,081,801	3,293,849
Disponibilidades (R$ mil)	618,027	557,788	592,831	628,246	1,004,289	942,908	830,561	721,488	1,048,966	784,842	1,261,990	929,742	1,281,906	1,261,990	1,280,712	1,057,145	942,703	560,430	682,059	656,490	411,449	368,580	419,859	392,936	291,091	300,511	465,718	556,916	364,134	359,300	560,649	489,416	374,296	631,650	599,938	683,303	647,988	681,884	713,437	1,022,560	960,736	1,197,839	1,166,253	1,674,197	1,615,617	1,776,919	1,811,416
Dívida Líquida (R$ mil)	(276,895)	(180,293)	(147,193)	(129,855)	(97,720)	38,388	150,632	362,407	394,053	590,651	499,381	567,967	634,008	499,381	616,135	915,692	989,878	1,311,965	1,376,301	1,419,876	1,445,684	1,500,183	1,618,196	1,690,264	1,734,704	1,727,795	1,777,873	1,683,130	1,650,348	1,656,462	1,675,408	1,649,869	1,534,188	1,543,579	1,560,896	1,502,851	1,465,248	1,445,434	1,396,854	1,293,104	1,503,505	1,561,103	1,714,505	1,705,307	1,670,941	1,304,882	1,482,433
Dívida Líquida/EBITDA LTM	-0.70x	-0.51x	0.19x	0.72x	1.54x	1.55x	2.12x	1.33x	1.42x	1.51x	1.23x	1.94x	2.72x	2.81x	3.42x	3.27x	3.15x	3.15x	3.12x	3.22x	3.36x	3.27x	3.26x	3.40x	3.23x	3.19x	3.14x	3.14x	3.05x	2.84x	2.84x	2.84x	2.69x	2.61x	2.55x	2.35x	2.03x	2.47x	2.66x	3.11x	3.32x	3.26x	2.58x	2.82x

Cash Flow

Cash Flow	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Consolidated Cash Flow Statement (R$ '000) - Management Accounting	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1T21	2T21	2T21
Net cash from operations	58,825	13,375	51,877	82,984	70,196	52,006	43,393	(71,257)	47,334	(41,727)	39,346	63,196	93,994	58,461	55,466	(39,525)	112,223	137,769	47,407	125,475	106,326	104,910	165,372	170,442
Cash generated by operations	36,712	53,092	61,459	49,991	57,588	68,162	107,560	69,048	75,962	99,145	16,510	108,340	92,527	92,024	100,222	394,168	140,510	109,572	72,505	136,263	109,239	129,937	105,571	122,824
Net profit for the year	27,216	37,723	42,891	52,829	31,497	42,991	30,696	46,811	32,214	54,038	128,950	53,096	47,338	35,544	56,439	184,285	48,191	49,632	66,595	66,291	45,128	47,900	58,443	42,186
Depreciation and amortization	4,414	5,537	5,209	(8,400)	5,056	6,010	6,523	8,142	8,357	9,507	11,209	11,594	11,892	12,058	16,876	54,085	18,571	21,827	21,326	23,856	24,336	25,184	25,918	27,307
Write-off of fixed assets	278	369	1,386	92	-	20	(1)	-	-	-	(156,857)	3,474	1,854	659	(969)	-	429	-	308	220	272	416	(17,237)	(12,893)
Equity gain (loss) in subsidiaries	-	-	-	-	-	-	-	-	-	-	-	- 0	-	-	-	-	-	(395)	395	- 0	- 0	- 0	- 0	- 0
Monetary variations, net	4,564	12,145	6,309	14,369	11,399	31,294	31,618	25,311	35,081	30,874	17,152	42,164	28,112	41,443	49,774	161,288	59,215	56,859	(3,026)	59,068	46,670	63,290	45,349	62,438
Provisions for tax, labor-law and third-party risks	-	(6,757)	155	785	(1,661)	(4,856)	24,108	(6,201)	870	(201)	12,316	(270)	(64)	(43)	(20,832)	(20,974)	-	-	- 0	- 0	- 0	- 0	- 0	- 0
Deferred income tax and Social Contribution tax	681	1,104	834	(533)	576	638	7,642	(1,017)	95	4,795	(2,122)	(426)	1,705	3,272	(4,113)	2,872	2,298	(2,850)	(17,626)	(3,039)	(5,810)	(777)	(3,525)	7,511
Provision for share-based payments	399	16	(53)	715	73	464	134	2,193	292	174	6,500	3,422	1,858	2,210	2,351	8,559	1,206	776	1,770	1,251	512	927	718	719
Provision for Bonus Program	679	1,568	4,627	1,659	1,654	2,427	2,788	2,482	755	(118)	6,210	5,075	2,569	1,985	4,999	11,419	2,010	-	5,776	2,640	3,859	2,116	2,983	3,197
Allowance for doubtful accounts	(1,508)	1,399	90	(9,750)	758	2,008	(610)	193	422	1,871	(2,408)	(120)	48	613	2,136	3,045	995	269	6,120	(1,025)	3,944	1,261	1,405	1,018
Deferred revenues	-	-	- 0	(1,483)	8,245	(12,822)	4,577	-	(2,144)	(2,326)	(4,226)	- 0	(2,785)	(5,846)	(7,088)	(12,022)	7,646	(17,094)	(9,952)	(13,820)	(9,224)	(9,540)	(10,446)	(8,950)
Amortization of cost of capitalizations	-	-	-	-	-	-	-	(9,005)	-	-	-	(10,203)	-	-	-	-	-	-	-	-	-	-	2,446	906
Minority interests	(11)	(12)	11	(41)	(9)	(12)	18	(107)	(11)	(5)	(28)	(19)	-	-	347	347	(56)	502	487	530	(613)	(669)	(580)	(704)
Provision for impairment of inventories	-	-	- 0	- 0	-	-	67	246	31	536	(186)	553	-	129	302	447	5	46	332	291	165	(171)	97	89
Changes in assets and liabilities	23,730	(39,885)	(14,876)	38,527	33,479	(16,156)	(64,277)	(41,504)	12,255	(109,680)	75,113	(8,556)	55,165	(25,236)	21,616	(31,046)	(14,826)	36,752	(16,018)	4,145	13,251	(14,468)	70,775	58,354
Other	(1,617)	168	5,294	(5,534)	(20,871)	-	110	(98,801)	(40,883)	(31,192)	(52,277)	(36,588)	(53,698)	(8,327)	(18,716)	(13,710)	(13,461)	(8,555)	(9,080)	(14,933)	(16,164)	(10,559)	(10,974)	(10,736)
Net cash from (used in) investment activities	(77,623)	(53,819)	(73,068)	(79,518)	(94,492)	(103,470)	(85,847)	(195,217)	(69,005)	(88,105)	30,102	(97,129)	(165,982)	(182,976)	(230,921)	(276,602)	(129,972)	(345,435)	(111,169)	(116,603)	(75,265)	(83,517)	(126,220)	(160,300)
Acquisitions of non-current assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	(214,215)	(314,148)	(129,977)	(348,513)	(92,094)	(131,613)	(75,262)	(83,651)	(69,025)	(160,545)
Others	-	-	-	-	-	-	-	-	-	-	-	-	-	-	(16,706)	37,546	5	3,078	(19,075)	15,010	(3)	134	(57,195)	245
Net cash from (used in) financing activities	10,564	(19,795)	56,234	31,949	400,339	(9,917)	(69,893)	157,401	349,149	(134,292)	2,783	114,655	427,397	103,046	125,209	(1,661)	(98,363)	(180,603)	185,688	(34,681)	(275,962)	(64,438)	12,266	(37,238)
Amortization of financings	(2,465)	(16,493)	(9,832)	(25,755)	(5,205)	(26,016)	(71,882)	56,305	(5,932)	(76,967)	(6,662)	(34,571)	(19,007)	(238,306)	(22,097)	223,978	(32,637)	(101,659)	37,931	(19,160)	(191,116)	(33,455)	(34,723)	(10,582)
Dividends paid	- 0	(46,765)	-	(9)	-	(53,434)	-	- 0	-	(55,823)	819	(819)	-	(63,707)	-	(1)	(75)	(60,000)	(458)	- 0	- 0	- 0	(60,000)	- 0
Funds raised	13,029	43,463	22,603	36,481	76,213	73,093	6,514	102,054	65,528	1,813	17,822	150,046	-	62,909	168,459	54,090	11,479	-	229,732	1,828	5,750	- 0	192,165	(123)
Proceeds of debenture issue	-	-	-	- 0	330,216	(3,560)	941	- 0	298,527	-	351	- 0	446,404	362,870	46,434	(1,161)	-	-	- 0	- 0	- 0	- 0	- 0	- 0
Proceeds of issue of shares	-	-	43,463	-	-	-	-	350	-	-	-	- 0	-	-	-	- 0	-	-	- 0	- 0	- 0	- 0	- 0	- 0
Other	-	-	-	(4,523)	(885)	-	(5,466)	(1,308)	(8,974)	(3,315)	(9,547)	(1)	-	-	(13,703)	(4,082)	(1,901)	(2,105)	- 0	500	- 0	(13,119)	- 0	- 0
Payment of interest	-	-	-	-	-	-	-	- 0	-	-	-	- 0	(39,560)	(20,720)	(53,884)	(274,485)	(75,229)	(16,839)	(81,517)	(17,849)	(90,596)	(17,864)	(85,176)	(26,533)
Increase (reduction) in cash and cash equivalents	(8,234)	(60,239)	35,043	35,415	376,043	(61,381)	(112,347)	(109,073)	327,478	(264,124)	72,231	80,722	355,409	(21,469)	6,583	(222,797)	(116,112)	(388,269)	121,926	(25,809)	(244,901)	(43,045)	51,418	(27,096)
Initial balance of cash and equivalents	626,261	618,027	557,788	592,831	628,246	1,004,289	942,908	830,561	721,488	1,048,966	784,842	857,073	937,795	1,293,204	1,271,735	1,287,666	1,064,869	948,757	560,488	682,414	656,605	411,704	368,659	420,077
Final balance of cash and equivalents	618,027	557,788	592,831	628,246	1,004,289	942,908	830,561	721,488	1,048,966	784,842	857,073	937,795	1,293,204	1,271,735	1,287,666	1,064,869	948,757	560,488	682,414	656,605	411,704	368,659	420,077	392,981
Consolidated Cash Flow Statement (R$ '000) - Formal Accounting	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	4Q11	1Q12	2Q12	3Q12	4Q12	1Q13	2Q13	3Q13	4Q13	1Q14	2Q14	3Q14	4Q14	1Q15	2Q15	3Q15	4Q15	1Q16	2Q16	3Q16	4Q16	1Q17	2Q17	3Q17	4Q17	1Q18	2Q18	3Q18	4Q18	1Q19	2Q19	3Q19	4Q19	1Q20	2Q20	3Q20	4Q20	1Q21	2Q21	3Q21
Net cash from operations	58,825	13,375	51,877	82,984	70,196	52,006	43,393	(71,257)	47,334	(41,727)	39,346	63,196	85,126	35,859	45,380	65,640	27,148	80,133	(32,952)	107,466	15,325	86,748	62,816	161,006	(5,619)	99,284	64,067	200,871	80,992	125,593	(6,088)	141,495	104,807	88,475	59,487	154,940	89,698	106,591	83,680	122,472	83,598	(18,503)	(9,066)	82,304	51,016	13,864	29,793
Cash generated by operations	36,712	53,092	61,459	49,991	57,588	68,162	107,560	69,048	75,962	99,145	16,510	108,340	85,755	87,935	99,628	91,566	116,776	124,895	73,777	136,076	109,056	129,760	105,381	122,597	143,178	128,243	166,453	180,509	159,494	142,046	81,851	144,964	125,244	128,800	118,457	195,090	136,221	147,800	170,324	205,582	89,703	45,078	68,094	105,229	78,796	83,048	165,495
Net profit for the year	27,216	37,723	42,891	52,829	31,497	42,991	30,696	46,811	32,214	54,038	128,950	53,096	47,328	35,544	44,964	56,439	48,191	49,632	66,595	66,291	45,128	47,900	58,443	42,186	38,712	35,088	40,623	49,772	50,619	50,975	53,061	64,218	58,114	60,557	65,578	76,077	55,453	60,112	86,915	111,821	12,453	46,289	61,566	82,016	39,840	279,007	(57,957)
Depreciation and amortization	4,414	5,537	5,209	(8,400)	5,056	6,010	6,523	8,142	8,357	9,507	11,209	11,594	10,318	10,269	11,445	15,040	16,719	21,825	23,180	23,856	24,336	25,184	25,918	27,307	27,847	27,223	26,751	26,500	26,479	26,381	26,743	26,729	27,069	27,274	27,468	27,830	31,104	31,524	31,948	33,446	37,004	37,282	36,509	38,205	37,144	38,727	39,679
Write-off of fixed assets	278	369	1,386	92	-	20	(1)	-	-	-	(156,857)	3,474	1,854	659	2	(969)	429	308	220	272	416	(17,237)	(12,893)	- 0	67	3	-	- 0	- 0	334	1	- 0	(258)	2,420	- 0	- 0	720	1,039	2	- 0	- 0	- 0	(8,864)	4,506	4,689	(180)
Equity gain (loss) in subsidiaries	-	-	-	-	-	-	-	-	-	-	-	- 0	(5,152)	(5,730)	(6,978)	(6,462)	(6,757)	(195)	(187)	(187)	(183)	(177)	(190)	(227)	(218)	(223)	(257)	(241)	(299)	(299)	(298)	(294)	(279)	(287)	(281)	(277)	(305)	(292)	(293)	(299)	(270)	(564)	(1,204)	(1,276)	(1,615)	(352)	(349)
Monetary variations, net	4,564	12,145	6,309	14,369	11,399	31,294	31,618	25,311	35,081	30,874	17,152	42,164	28,112	41,443	41,959	49,774	57,349	58,725	(3,026)	59,068	46,670	63,290	45,349	62,438	76,456	79,030	107,481	100,888	91,679	67,405	(4,893)	46,435	32,371	32,102	19,090	57,655	35,613	40,634	35,346	29,574	16,475	14,165	13,322	19,168	5,681	(389,251)	215,963
Provisions for tax, labor-law and third-party risks	-	(6,757)	155	785	(1,661)	(4,856)	24,108	(6,201)	870	(201)	12,316	(270)	(64)	(43)	(35)	(20,832)	-	-	-	-	-	-	-	-	-	-	-	-	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	1,331	4,730	(95)	1	76	466	28	9	7,612
Deferred income tax and Social Contribution tax	681	1,104	834	(533)	576	638	7,642	(1,017)	95	4,795	(2,122)	(426)	1,659	3,318	2,008	(4,113)	2,298	(2,850)	(17,626)	(3,039)	(5,810)	(777)	(3,525)	7,511	1,725	(10,539)	(6,526)	2,025	(7,724)	(1,851)	60	5,149	2,736	4,440	4,439	13,820	3,670	3,980	6,698	13,795	18,469	8,584	5,415	(3,514)	7,012	145,412	(50,290)
Provision for share-based payments	399	16	(53)	715	73	464	134	2,193	292	174	6,500	3,422	1,858	2,210	2,140	2,351	1,206	776	1,770	1,251	512	927	718	719	347	347	349	348	66	- 0	- 0	- 0	- 0	864	1,295	1,296	1,371	1,870	1,620	1,620	2,097	2,097	1,948	1,950	2,137	2,137	2,138
Provision for Bonus Program	679	1,568	4,627	1,659	1,654	2,427	2,788	2,482	755	(118)	6,210	5,075	2,569	1,985	1,866	4,999	2,010	-	5,776	2,640	3,859	2,116	2,983	3,197	3,668	1,763	4,202	(195)	1,447	3,434	7,284	4,638	3,681	2,170	2,947	9,137	3,751	6,118	1,867	7,539	4,042	(4,042)	- 0	- 0	3,604	7,130	4,451
Allowance for doubtful accounts	(1,508)	1,399	90	(9,750)	758	2,008	(610)	193	422	1,871	(2,408)	(120)	48	613	1,928	1,778	995	269	6,120	(1,025)	3,944	1,261	1,405	1,018	1,939	2,310	789	7,574	3,548	2,381	2,023	(589)	4,019	4,032	(1,291)	5,332	2,865	3,756	2,710	965	5,284	11,110	5,815	4,117	11,907	7,531	7,666
Deferred revenues	-	-	- 0	(1,483)	8,245	(12,822)	4,577	-	(2,144)	(2,326)	(4,226)	- 0	(2,785)	(2,462)	313	- 0	(5,613)	(3,835)	(9,952)	(13,820)	(9,224)	(9,540)	(10,446)	(8,950)	(8,332)	(7,102)	(7,897)	(6,990)	(7,112)	(7,389)	(3,087)	(3,017)	(3,044)	(2,876)	(3,058)	(1,655)	(1,377)	(891)	(567)	(567)	(608)	(288)	(149)	(143)	- 0	- 0	- 0
Amortization of cost of capitalization	-	-	-	-	-	-	-	(9,005)	-	-	-	(10,203)	-	-	-	(7,088)	-	-	-	-	-	-	2,446	906	1,440	1,035	1,494	1,443	1,436	1,435	1,525	1,711	1,651	1,621	1,285	2,651	2,110	2,111	2,111	2,112	2,054	1,901	2,117	655	2,600	2,600	2,329
Minority interests	(11)	(12)	11	(41)	(9)	(12)	18	(107)	(11)	(5)	(28)	(19)	10	-	-	347	(56)	502	487	530	(613)	(669)	(580)	(704)	(503)	(668)	(567)	(874)	(609)	(607)	(645)	(1,286)	(767)	(962)	(1,096)	2,825	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Provisão para desvalorização de Estoque	-	-	- 0	- 0	-	-	67	246	31	536	(186)	553	-	129	16	302	5	46	332	291	165	(171)	97	89	97	(88)	8	259	(36)	181	(256)	1,269	(307)	123	(339)	399	1,966	(1,842)	(401)	844	(255)	448	(714)	1,451	(464)	(719)	1,728
(33,584)	(2,882)	(13,195)
- 0	(10,990)	5,900
Changes in assets and liabilities	23,730	(39,885)	(14,876)	38,527	33,479	(16,156)	(64,277)	(41,504)	12,255	(109,680)	75,113	(8,556)	50,071	(20,031)	9,004	3,170	(2,064)	(18,242)	(16,132)	4,172	13,029	(14,589)	53,585	75,678	(38,328)	14,992	(4,710)	54,552	39,085	17,354	4,468	18,296	62,634	(22,927)	12,634	(16,429)	17,920	(6,007)	(29,851)	(57,521)	50,381	(50,186)	(47,989)	2,031	23,884	(32,296)	(72,355)
Other	(1,617)	168	5,294	(5,534)	(20,871)	-	110	(98,801)	(40,883)	(31,192)	(52,277)	(36,588)	(50,700)	(63,252)	(347)	(87,564)	(26,520)	(90,597)	(32,782)	(106,760)	(28,423)	(96,150)	(37,269)	(110,469)	(43,951)	(97,676)	(34,190)	(117,587)	(33,807)	(92,407)	(21,765)	(83,071)	(17,398)	(71,604)	(23,721)	(64,443)	(35,202)	(56,793)	(25,589)	(56,486)	(13,395)	(29,171)	(24,956)	(51,664)	(36,888)	(63,347)
Net cash from (used in) investment activities	(77,623)	(53,819)	(73,068)	(79,518)	(94,492)	(103,470)	(85,847)	(195,217)	(69,005)	(88,105)	30,102	(97,129)	(160,359)	(281,368)	(560,644)	(262,251)	(159,634)	26,389	(54,138)	(97,218)	1,792	(42,003)	(58,633)	(190,684)	48,029	(85,249)	(128,568)	(103,993)	122,401	(122,463)	(217,664)	54,583	71,708	(288,037)	(10,326)	(166,801)	(3,185)	(56,150)	(47,677)	(239,687)	(236,047)	(263,736)	(114,845)	(509,717)	32,637	239,757	(243,166)
Acquisitions of non-current assets	(162,331)	(464,697)	(354,893)	40,681	(41,178)	325,031	58,486	18,985	76,792	41,040	50,346	(13,460)	105,452	(50,576)	(88,496)	(75,674)	163,191	(113,755)	(198,480)	82,608	103,249	(254,230)	36,585	(106,111)	24,328	(25,228)	(44,693)	(270,939)	38,347	(232,827)	38,818	(473,693)	70,693	273,347	(191,068)
Others	1,976	183,329	(205,751)	(302,932)	(118,456)	(298,642)	(112,624)	(116,203)	(75,000)	(83,043)	(108,979)	(177,224)	(57,423)	(34,673)	(40,072)	(28,319)	(40,790)	(8,708)	(19,184)	(28,025)	(31,541)	(33,807)	(46,911)	(60,690)	(27,513)	(30,922)	(2,984)	31,252	(274,394)	(30,909)	(153,663)	(36,024)	(38,056)	(33,590)	(52,098)
Net cash from (used in) financing activities	10,564	(19,795)	56,234	31,949	400,339	(9,917)	(69,893)	157,401	349,149	(134,292)	2,783	114,655	427,397	(239,104)	179,093	13,725	(23,134)	(163,764)	267,205	(16,832)	(185,366)	(46,574)	97,442	(10,705)	(38,803)	(55,191)	141,212	(81,354)	(232,984)	(121,719)	226,621	(184,703)	(188,386)	202,686	(44,288)	(10,885)	(97,500)	(41,773)	(47,013)	153,269	116,653	277,213	120,928	451,820	(90,821)	(240,260)	203,200
Amortization of financings	- 0	(16,493)	(9,832)	(25,755)	(5,205)	(26,016)	(71,882)	56,305	(5,932)	(76,967)	(6,662)	(34,571)	(19,007)	(238,306)	(22,097)	(35,121)	(32,637)	(101,659)	37,931	(19,160)	(191,116)	(33,455)	(34,723)	(10,582)	(213,803)	(49,620)	(65,013)	(75,591)	(210,356)	(56,456)	23,604	(177,410)	(182,182)	19,084	15,714	(406,061)	(57,995)	(4,274)	(9,513)	(9,232)	(70,227)	(16,996)	(9,122)	(12,024)	(90,821)	(210,823)	(296,800)
Dividends paid	- 0	(46,765)	-	(9)	-	(53,434)	-	- 0	-	(55,823)	819	(819)	-	(63,707)	-	(1)	(75)	(60,000)	(458)	-	-	-	(60,000)	-	-	-	(60,000)	-	-	(59,999)	(60,001)	- 0	- 0	(59,998)	(60,002)	0	-37502	-37499	(37,500)	(37,499)	(37,500)	- 0	- 0	(36,156)	- 0	(24,999)	- 0
Funds raised	13,029	43,463	22,603	36,481	76,213	73,093	6,514	102,054	65,528	1,813	17,822	150,046	-	62,909	168,459	54,090	11,479	-	229,732	1,828	5,750	-	192,165	(123)	175,000	-	275,000	-	-	-	279,635	- 0	- 0	254,000	- 0	395176	0	0	- 0	200,000	230,050	300,000	130,050	500,000	- 0	- 0	500,000
Proceeds of debenture issue	-	-	-	- 0	330,216	(3,560)	941	- 0	298,527	-	351	- 0	446,404	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Proceeds of issue of shares	-	-	43,463	-	-	-	-	350	-	-	-	- 0	-	-	-	(1,161)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Other	-	-	-	(4,523)	(885)	-	(5,466)	(1,308)	(8,974)	(3,315)	(9,547)	(1)	-	-	(13,703)	(4,082)	(1,901)	(2,105)	-	500	-	(13,119)	-	-	-	(5,571)	(8,775)	(5,763)	(22,628)	(5,264)	(16,617)	(7,293)	(6,204)	(10,400)	- 0	- 0	(2,003)	- 0	- 0	- 0	(5,670)	(5,791)	- 0	- 0	- 0	(4,438)	- 0
Increase (reduction) in cash and cash equivalents	(8,234)	(60,239)	35,043	35,415	376,043	(61,381)	(112,347)	(109,073)	327,478	(264,124)	72,231	80,722	352,164	(484,613)	(336,171)	(182,886)	(155,620)	(57,242)	180,115	(6,584)	(168,249)	(1,829)	101,625	(40,383)	3,607	(41,156)	76,711	15,524	(29,591)	(118,589)	2,869	11,375	(11,871)	3,124	4,873	(22,746)	(10,987)	8,668	(11,010)	36,054	(35,796)	(5,026)	(2,983)	24,407	(7,168)	13,361	(10,173)
Initial balance of cash and equivalents	626,261	618,027	557,788	592,831	628,246	1,004,289	942,908	830,561	721,488	1,048,966	784,842	857,073	929,742	1,281,906	797,293	461,122	278,236	122,616	65,374	245,489	238,905	70,656	68,827	170,452	130,069	133,676	92,520	169,231	184,755	155,164	36,575	39,444	50,819	38,948	42,072	46,945	24,199	13,212	21,880	10,870	46,924	11,128	6,102	3,119	27,526	20,358	33,719
Final balance of cash and equivalents	618,027	557,788	592,831	628,246	1,004,289	942,908	830,561	721,488	1,048,966	784,842	857,073	937,795	1,281,906	797,293	461,122	278,236	122,616	65,374	245,489	238,905	70,656	68,827	170,452	130,069	133,676	92,520	169,231	184,755	155,164	36,575	39,444	50,819	38,948	42,072	46,945	24,199	13,212	21,880	10,870	46,924	11,128	6,102	3,119	27,526	20,358	33,719	23,546

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Iguatemi Empresa de Shopping Centers SA published this content on 10 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2021 09:14:09 UTC.

Iguatemi Empresa de Shopping Centers S.A. Reports Earnings Results for the Full Year Ended December 31, 2023	Feb. 19	CI
Iguatemi Empresa de Shopping Centers S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023	Nov. 07	CI
Iguatemi Empresa de Shopping Centers S.A. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023	23-07-31	CI
Iguatemi Empresa de Shopping Centers S.A. Reports Earnings Results for the First Quarter Ended March 31, 2023	23-05-02	CI
Iguatemi Empresa de Shopping Centers S.A. Reports Earnings Results for the Full Year Ended December 31, 2022	23-02-28	CI
Iguatemi Empresa de Shopping Centers S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022	22-11-08	CI
Iguatemi Empresa de Shopping Centers S.A. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022	22-08-02	CI
Iguatemi Empresa de Shopping Centers S.A. Reports Earnings Results for the First Quarter Ended March 31, 2022	22-05-03	CI
Iguatemi Empresa de Shopping Centers S.A. Reports Earnings Results for the Full Year Ended December 31, 2021	22-03-14	CI
Iguatemi Empresa de Shopping Centers S.A.(BOVESPA:IGUATEMI) dropped from Brazil Special Tag Along Stock Index	21-11-22	CI
Iguatemi Empresa de Shopping Centers S.A.(BOVESPA:IGUATEMI) dropped from Brazil Small Cap Index	21-11-22	CI
Iguatemi Empresa de Shopping Centers S.A.(BOVESPA:IGUATEMI) dropped from Brazil Special Corporate Governance Stock Index	21-11-22	CI
Iguatemi Empresa de Shopping Centers S.A.(BOVESPA:IGUATEMI) dropped from Brazil IBRX Index	21-11-22	CI
Iguatemi Empresa de Shopping Centers S.A.(BOVESPA:IGUATEMI) dropped from Brazil IBOVESPA Index	21-11-22	CI
Transcript : Iguatemi Empresa de Shopping Centers S.A., Q3 2021 Earnings Call, Nov 10, 2021	21-11-10
Iguatemi Empresa de Shopping Centers S.A. Announces Appointment of Guido Oliveira as Chief Financial Officer, Effective January 2022	21-11-10	CI
Iguatemi Empresa de Shopping Centers S.A. Announces Appointment of Cristina Betts as CEO, Effective January 2022	21-11-10	CI
Iguatemi Empresa de Shopping Centers S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021	21-11-09	CI
Iguatemi Empresa de Shopping Centers S A : Brazil's Iguatemi proposes reorganization to aid mall growth	21-09-01	RE
Jereissati Participações S.A. entered into the Protocol and Justification of the Merger to acquire remaining 49.27% in Iguatemi Empresa de Shopping Centers S.A..	21-08-30	CI
Transcript : Iguatemi Empresa de Shopping Centers S.A., Q2 2021 Earnings Call, Aug 10, 2021	21-08-10
Iguatemi Empresa De Shopping Centers S.A. Reports Earnings Results for the Second Quarter Ended June 30, 2021	21-08-08	CI
Transcript : Iguatemi Empresa de Shopping Centers S.A., Q1 2021 Earnings Call, May 05, 2021	21-05-05
Iguatemi Empresa de Shopping Centers S.A. acquired an unknown minority stake in Infracommerce Cxaas S.A..	21-05-04	CI
Iguatemi Empresa De Shopping Centers S.A. Reports Earnings Results for the First Quarter Ended March 31, 2021	21-05-04	CI

	1st Jan change	Capi.
SCENTRE GROUP	+6.35%	10.72B
THE PHOENIX MILLS LIMITED	+40.55%	6.51B
ARABIAN CENTRES COMPANY	+18.86%	3.13B
PLAZA S.A.	+13.28%	2.93B
MULTIPLAN EMPREENDIMENTOS IMOBILIARIOS S.A.	-15.94%	2.72B
EASYHOME NEW RETAIL GROUP CORPORATION LIMITED	-7.58%	2.64B
AEON MALL CO., LTD.	+1.78%	2.61B
ALLOS S.A.	-19.02%	2.33B
ATRIUM LJUNGBERG AB	-15.48%	2.25B

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