Locaweb Serviços de Internet S A : Dados Econômico-Financeiros

Locaweb Serviços de Internet S.A.

Individual and consolidated interim financial information

March 31, 2023

(A free translation of the original report in Portuguese containing financial statements prepared in accordance with the Brazilian and International standard on review Engagements (NBC TR 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively))

KPDS 1194711

Locaweb Serviços de Internet S.A. Individual and consolidated interim financial information March 31, 2023

Contents

Report on review of quarterly information ‐ ITR	3
Interim statements of financial position	5
Interim statements of result	7
Interim statements of comprehensive income	8
Interim statements of changes in shareholders' equity	9
Interim statements of cash flows	10
Interim statements of value add	11
Notes to individual and consolidated interim financial information	12

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KPMG Auditores Independentes Ltda.

Rua Verbo Divino, 1400, Conjunto Térreo ao 801 - Parte, Chácara Santo Antônio, CEP 04719-911, São Paulo - SP Caixa Postal 79518 - CEP 04707-970 - São Paulo - SP - Brasil Telefone [phone]

kpmg.com.br

Report on review of quarterly information - ITR

To the Shareholders and Administrators of

Locaweb Serviços de Internet S.A.

São Paulo - SP

Introduction

We have reviewed the accompanying individual and consolidated interim financial information of Locaweb Serviços de Internet S.A. ("the Company"), contained in the Quarterly Financial Information Form (ITR) for the quarter ended March 31, 2023, comprising the statements financial position as of March 31, 2023, the respective statements of profit or loss, other comprehensive income, statements of changes in equity and cash flows for the three-month period then ended, including notes the financial statements.

Management is responsible for the preparation of the interim financial information in accordance with CPC 21(R1) and International Accounting Standard (IAS) 34 - Interim Financial Reporting, issued by International Accounting Standards Board - IASB, and for the presentation of this information in accordance with the standards issued by the Comissão de Valores Imobiliários, applicable to the preparation of the Quarterly Financial Information (ITR). Our responsibility is to express a conclusion on these interim financial information based on our review.

Scope of review

We conducted our review in accordance with the Brazilian and International Standard on Review Engagements (NBC TR 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively).

A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and, consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

KPMG Auditores Independentes Ltda., uma sociedade simples brasileira, de responsabilidade limitada e firma-membro da organização global KPMG de firmas-membro independentes licenciadas da KPMG International Limited, uma empresa inglesa privada de responsabilidade limitada.

KPMG Auditores Independentes Ltda., a Brazilian limited liability company and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

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Conclusion on the individual interim financial information

Based on our review, nothing has come to our attention that causes us to believe that the individual interim financial information included in the Quarterly Information referred above has not been prepared, in all material respects, in accordance with CPC 21 (R1), applicable to the preparation of Quarterly Information - ITR and presented in accordance with the standards issued by the Comissão de Valores Mobiliários.

Conclusion on the consolidated interim financial information

Based on our review, nothing has come to our attention that causes us to believe that the consolidated interim financial information included in the Quarterly Information referred above has not been prepared, in all material respects, in accordance with CPC 21 (R1) and IAS 34, applicable to the preparation of Quarterly Information - ITR and presented in accordance with the standards issued by the Comissão de Valores Mobiliários.

Other matters - Statements of added value

The interim financial information referred above comprise the statements of added value (DVA), individual and consolidated, for the three-month period ended March 31, 2023, prepared under the responsibility of Company's management, and presented as supplementary information for the purpose of IAS 34. These statements, were submitted to the review procedures performed together with the review of the Quarterly Financial Information, with the purpose to evaluate whether these are reconciled to the financial information and to accounting records, as applicable, and whether their form and content are in accordance with the criteria set on Technical Pronouncement CPC 09 - Statement of Added Value. Based on our review, nothing has come to our attention that causes us to believe that the statements of added value referred above have not been prepared, in all material respects, in accordance with the criteria defined in this Standard and consistently in relation to the interim financial information taken as a whole.

São Paulo, May 08, 2023

KPMG Auditores Independentes Ltda.

CRC 2SP-014428/O-6

Original report in Portuguese signed by

João Paulo A. Pacheco Neves

Accountant CRC 1SP222303/O-4

KPMG Auditores Independentes Ltda., uma sociedade simples brasileira, de responsabilidade limitada e firma-membro da organização global KPMG de firmas-membro independentes licenciadas da KPMG International Limited, uma empresa inglesa privada de responsabilidade limitada.

KPMG Auditores Independentes Ltda., a Brazilian limited liability company and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

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Locaweb Serviços de Internet S.A.

Interim statements of financial position as at March 31, 2023 and December 31, 2022

(In thousands of Reais)

		Parent company		Consolidated
Assets	Note:	03/31/2023	12/31/2022	03/31/2023	12/31/2022
Cash and cash equivalents	3.1	1,286,237	1,309,361	1,426,181	1,448,231
Accounts receivable	4.1	21,969	22,729	664,543	671,482
Taxes recoverable		12,775	7,011	14,124	8,353
Income tax and social contribution recoverable		11,390	22,239	18,678	32,034
Other assets	5	13,785		11,856		32,643		29,357
Total current assets		1,346,156		1,373,196		2,156,169		2,189,457

Court deposits	14
Financial Assets	3.2
Other assets	5
Deferred income tax and social contribution	21

Total long-term assets

447	447	1,057	1,063
-	-	16,895	13,381
9,798	9,620	6,547	6,521
53,714	46,282	80,752	66,377
63,959	56,349	105,251	87,342

Investments	7	2,158,221	2,112,480	-	-
Property, plant, and equipment	8	61,857	61,801	96,340	96,516
Intangible assets	9	137,803	137,122	2,280,033	2,282,457
Right-of-use asset	10	59,081		61,166		66,951		68,830
Total non-current assets		2,480,921		2,428,918		2,548,575		2,535,145
Total assets		3,827,077		3,802,114		4,704,744		4,724,602

The accompanying notes are an integral part of the interim financial information.

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