Rossi Residencial S A : 1Q21 Earnings Release

São Paulo, May 12, 2021. Rossi Residencial S.A. (B3: RSID3; Bloomberg: RSID3 BZ Equity), announces its results for the first quarter of 2021.

RSID3: R$ 12.36 per share

Total shares: 17,153,337

Market value: R$ 212.0 million

31% increase in Gross Sales (Rossi's share) in 1Q21 vs 1Q20

Resale efficiency of 89% of canceled units in 1Q21

25% decrease in Administrative Expenses in 1Q21 vs 1Q20

Cash Generation of R$ 22.3 million (IFRS) in 1Q21

Conference Call

May 13, 2021

In Portuguese with Simultaneous Translation 14:00 (Brasília) / 13:00 (US ET)

Phone: [phone]

Code: Rossi

Replay (available until May 20, 2021): Access Number: ([phone] Code: Rossi

Investor Relations

Team

[e-mail]

[phone]

1Q21 Earnings Release

SUMÁRIO

Message from the CEO	3
Operating and Financial Indicators	4
Operating Performance	5
Contracted Sales and SoS	5
Sales Cancellation	7
Inventory at Market Value	9
Costs to be Incurred	10
Land Bank	11
Financial Performance	12
Net Revenue	12
Gross Profit and Margin	12
Operating Expenses	13
Financial Result	16
Backlog Result	16
Accounts Receivable	17
Marketable Properties	17
Debt	18
Transfers	21
Relationship with Independent Auditors	22
Exhibit I - 100% Indices	23
Exhibit II - IFRS Indices	24
Exhibit III - Income Statement	25
Exhibit IV - Balance Sheet	26
Exhibit V - Inventory (100%)	28
Glossary	29

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1Q21 Earnings Release

MESSAGE FROM THE CEO

We began 2021 with the expectation that the challenges experienced since the second quarter of last year, related to the new coronavirus (COVID-19) pandemic, were left behind.

During this period, the Company continued to carry out its activities with responsibility, focusing on its operational and financial restructuring with the objective of mitigating all risks inherent to its operations, increasing the liquidity of its assets, deleveraging its capital structure and resuming its delivery cycle.

And, after an initial adjustment period, which had negative impacts on sales and transfers, the Company improved its main operational indicators that, in this first quarter, have already returned to pre-pandemic levels.

The Company's commercial team made great efforts that resulted in gross sales reaching R$ 40.3 million, Rossi's share, corresponding to a 31% increase over the first quarter of 2020, even with the 24% reduction in inventories. This performance contributed to an SoS of 28% in 1Q21, a level that has not been reached in the last 5 years.

Additionally, we continued to maintain a very high resale efficiency for the finished units, which has already reached 89% in 2021.

We also made important advances in the sale of non-strategic assets that, in addition to contributing to the simplification of our corporate structure, allows Rossi to comply with the payment schedule with its main creditors. In this quarter, we sold 4 land lots to settle the Company's corporate debt with Banco do Brasil, as mentioned in the Material Fact released on December 22, 2020.

Thus, after the significant reduction in the Company's leverage and net debt in the fourth quarter of 2020, we had a further reduction in net debt in 1Q21 and a cash generation of R$ 22.3 million.

Finally, it is worth mentioning our recurring efforts to reduce our administrative expenses, which, when compared to the first quarter of 2020, decreased by 25%. This was achieved through readjustments and reductions in the number of employees, renegotiation of service contracts, and revision of our internal processes.

Waiting for the speed of vaccination increases in Brazil and the COVID-19 pandemic is consequently contained, which is expected to occur in the second half of the year, the Company continues to structure itself to be in an even better situation than it was at the beginning of last year.

As we strive for our legacy in terms of developments launched until 2017, we gradually shift our focus towards new real estate developments and the resumption of our launch cycle.

João Paulo Franco Rossi Cuppoloni

CEO

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1Q21 Earnings Release

OPERATING AND FINANCIAL INDICATORS

R$ MM	1Q21	1Q20	Var.
Operating Performance
Launches - 100%	-	-	-
Gross Sales - 100%	40.9	37.0	10.5%
Cancellations - 100%	43.2	37.0	16.8%
Net Sales - 100%	-2.3	0.0	-100.0%
Launches - % Rossi	-	-	-
Gross Sales - % Rossi	40.3	30.9	30.5%
Cancellations - % Rossi	42.3	33.3	27.2%
Net Sales - % Rossi	-2.0	-2.4	16.4%
Financial Performance
Net Revenue	28.4	1.1	2515.4%
Gross Margin¹	40.5%	-9.1%	49.6 p.p.
Gross Margin (ex interest)²	48.7%	64.7%	-16.0 p.p.
Adjusted EBITDA³	4.3	-45.5	109.4%
Adjusted EBITDA Margin³	15.1%	-4191.8%	100.4%
Net Income	-32.5	-73.1	55.5%
Net Margin	-114.7%	-6739.7%	98.3%
Cash Generation (Burn) - Rossi's share	11.9	-6.0	300.1%

• Consolidated as per CPC19 (R2) and CPC36 (R3), relating to the subsidiaries. ² Gross Margin excluding interest allocated to cost.

³ EBITDA and EBITDA Margin adjusted for expenses that do not represent a cash outflow and for non-recurring items. Reconciliation with EBITDA as per CVM Instruction 527/2012 is shown in the glossary at the end of this document.

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1Q21 Earnings Release

OPERATIONAL PERFORMANCE

The operating metrics shown in this earnings release are calculated on the basis of proportional view. In addition to the proportional view, the results are broken down by consolidated (IFRS) and non-consolidated companies, as shown in Exhibit II. Details of the amounts taking 100% of operations into account, irrespective of the method of consolidation, are given in Exhibit I.

SALES CONTRACTED AND SALES SPEED (SoS)

In this first quarter, Gross Contracted Sales totaled R$ 40.9 million (R$ 40.3 million - % Rossi), a 31% increase in Rossi's share when compared to 1Q20 and 53% higher than the last quarter of 2020.

Gross Sales - R$ milhões

												44.3					40.9
37.0	32.7
					4.8
						28.1			0.5
		6.1
					4.5
30.9								39.5				1.7		40.3
	28.2
							26.4
	1Q20		2Q20	3Q20		4Q20		1Q21
											Rossi				Partners

The increase in sales reflects the fast resumption of the real estate sector, which was able to adapt and minimize the negative impacts caused by the new coronavirus pandemic (COVID-19), which harmed the Company's sales performance and reduced its expected sales volume during the year of 2020.

The following charts present gross sales (Rossi's share) by construction stage and metropolitan region.

1Q21 Gross Sales (% Rossi) - Construction	1Q21 Gross Sales (% Rossi) - Region
stage
100%			2%5%
	Finished	5%		Other regions
		36%		Aracaju
		Delivered and To be			São Paulo
				Manaus
		delivered in 2021	38%

14%		Campinas
	Porto Alegre

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