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CYRELA BRAZIL REALTY S.A. EMPREENDIMENTOS E PARTICIPAÇÕES

(CYRE3)
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Cyrela Brazil Realty S A Empreendimentos e Participações : Dados Econômico-Financeiros

08/23/2021 | 03:24pm EDT

(Convenience Translation into English from the Original Previously Issued in Portuguese)

Cyrela Brazil Realty S.A.

Empreendimentos e

Participações and Subsidiaries

Individual and Consolidated Interim

Financial Information for the Quarter

Ended June 30, 2021 and Report on

Review of Interim Financial Information

Deloitte Touche Tohmatsu Auditores Independentes

Deloitte Touche Tohmatsu

Dr. Chucri Zaidan Avenue, 1.240 ‐ 4th to 12th floors ‐ Golden Tower 04711‐130 ‐ São Paulo ‐ SP Brazil

Tel.: + 55 (11) 5186‐1000

Fax: + 55 (11) 5181‐2911

www.deloitte.com.br

(Convenience Translation into English from the Original Previously Issued in Portuguese)

REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION

To the Shareholders and Management of

Cyrela Brazil Realty S.A. Empreendimentos e Participações

Introduction

We have reviewed the accompanying individual and consolidated interim financial information of Cyrela Brazil Realty S.A. Empreendimentos e Participações ("Company"), identified as Parent and Consolidated, respectively, included in the Interim Financial Information Form ‐ ITR, for the quarter ended June 30, 2021, which comprises the balance sheet as at June 30, 2021 and the related statements of income and of comprehensive income for the three‐ and six‐month periods then ended, and of changes in equity and of cash flows for the six‐month period then ended, including the explanatory notes.

Management is responsible for the preparation of the individual interim financial information in accordance with technical pronouncement CPC 21 (R1) ‐ Interim Financial Reporting and the consolidated interim financial information in accordance with technical pronouncement CPC 21 (R1) and international standard IAS 34 ‐ Interim Financial Reporting, issued by the International Accounting Standards Board ‐ IASB, as well as for the presentation of such information in accordance with the standards applicable to real estate development entities in Brazil, registered with the Brazilian Securities and Exchange Commission ‐ CVM, applicable to the preparation of Interim Financial Information ‐ ITR. Our responsibility is to express a conclusion on this interim financial information based on our review.

Scope of review

We conducted our review in accordance with Brazilian and International Standards on Review of Interim Financial Information (NBC TR 2410 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 the 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.

Conclusion on the individual interim financial information

Based on our review, nothing has come to our attention that causes us to believe that the accompanying individual interim financial information included in the interim financial information referred to above is not prepared, in all material respects, in accordance with technical pronouncement CPC 21 (R1), applicable to the preparation of ITR, and presented in accordance with the standards issued by the CVM.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. Please see www.deloitte.com/about for a more detailed description of DTTL and its member firms.

Deloitte provides audit, consulting, financial advisory, risk management, tax and relates services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries bringing world‐class capabilities, insights, and high‐quality service to address clients' most complex business challenges. To learn more about how Deloitte's approximately 286,200 professionals make an impact that matters, please connect with us on Facebook, LinkedIn or Twitter.

© 2021. For information, contact Deloitte Touche Tohmatsu Limited.

Conclusion on the consolidated interim financial information

Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated interim financial information included in the interim financial information referred to above is not prepared, in all material respects, in accordance with technical pronouncement CPC 21 (R1) and international standard IAS 34, applicable to the preparation of ITR, and presented in accordance with the standards issued by the CVM.

Emphasis of matter

As described in note 2.1 to the individual and consolidated interim financial information, the individual and consolidated interim financial information, contained in the Interim Financial Information Form ‐ ITR, has been prepared in accordance with technical pronouncement CPC 21 (R1) and international standard IAS 34, applicable to real estate development entities in Brazil, registered with the CVM. Accordingly, the determination of the accounting policy, adopted by the Company for the recognition of revenue from purchase and sale agreements of uncompleted real estate units on aspects related to transfer of control, abides by the Company's Management understanding on the application of technical pronouncement CPC 47, aligned with the understanding expressed by the CVM in Circular Letter CVM/SNC/SEP No. 02/2018. Our conclusion is not qualified in respect of this matter.

Other matters

Statements of value added

The interim financial information referred to above includes the individual and consolidated statements of value added ‐ DVA for the six‐month period ended June 30, 2021, prepared under the responsibility of the Company's Management and presented as supplemental information for international standard IAS 34 purposes, applicable to real estate development entities in Brazil, registered with the CVM. These statements were subject to review procedures performed together with the review of the Interim Financial Information ‐ ITR to reach a conclusion on whether they were reconciled with the interim financial information and accounting records, as applicable, and if their form and content are consistent with the criteria set forth by technical pronouncement CPC 09 ‐ Statement of Value Added. Based on our review, nothing has come to our attention that causes us to believe that these statements of value added were not prepared, in all material respects, in accordance with technical pronouncement CPC 09 and consistently with the accompanying individual and consolidated interim financial information taken as a whole.

Audit of corresponding figures for the prior year and period

The corresponding figures related to the individual and consolidated balance sheets as at

December 31, 2020 were previously audited by other independent auditors, who issued an unmodified report thereon dated March 16, 2021, and the individual and consolidated statements of income and of comprehensive income for the three‐ and six‐month periods ended June 30, 2020 and the statements of changes in equity and of cash flows for the six‐month period ended June 30, 2020 were previously reviewed by other independent auditors, who issued an unmodified report thereon dated August 13, 2020.

The corresponding figures related to the individual and consolidated DVA for the six‐month period ended June 30, 2020 were subject to the same review procedures by those independent auditors and, based on their review, those auditors issued a report stating that nothing has come to their attention that causes them to believe that the DVA has not been prepared, in all material respects, in accordance with the individual and consolidated interim financial information taken as a whole.

© 2021. For information, contact Deloitte Touche Tohmatsu Limited

2

The accompanying individual and consolidated interim financial information has been translated into English for the convenience of readers outside Brazil.

São Paulo, August 12, 2021

DELOITTE TOUCHE TOHMATSU

Tarcísio Luiz dos Santos

Auditores Independentes

Engagement Partner

2021SP008463_REV_ITR ‐ Informações Financeiras ‐ CBR ‐ 30.06.2021 PORTUGUÊS PA_EN.docx

© 2021. For information, contact Deloitte Touche Tohmatsu Limited

3

ITR - Quarterly Information - 06/30/2021 - CYRELA BRAZIL REALTY S.A.EMPREEND E PART

Contents

Company Information

Capital Breakdown

1

Individual Financial Statements

Balance Sheet - Assets

3

Balance Sheet - Liabilities

4

Income Statement

6

Statement of Comprehensive Income

8

Statement of Cash Flows

9

Statement of Changes in Equity

Statement of Changes in Equity - 01/01/2021 to 06/30/2021

11

Statement of Changes in Equity - 01/01/2020 to 06/30/2020

12

Statement of Value Added

13

Consolidated Financial Statements

Balance Sheet - Assets

14

Balance Sheet - Liabilities

16

Income Statement

18

Statement of Comprehensive Income

20

Statement of Cash Flows

21

Statement of Changes in Equity

Statement of Changes in Equity - 01/01/2021 to 06/30/2021

23

Statement of Changes in Equity - 01/01/2020 to 06/30/2020

24

Statement of Value Added

25

Comment on Performance

26

Notes to the Financial Statements

28

Other Information Considered Relevant by the Company

91

Opinions and Statements

Management's Statement on the Financial Statements

92

Management's Statement on the Independent Auditor's Report

93

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Cyrela Brazil Realty SA published this content on 23 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 August 2021 19:23:10 UTC.


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Rogério Frota Melzi Co-Chairman
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