Valuation Report of certain assets and liabilities assessed
through the accounting books.
To Shareholders and Managers
Brasil Telecom Comunicação Multimídia S.A. 12,901 Avenida das Nações Unidas
West Tower - Conjunto 2701 - 27th floor Chacara Itaim - São Paulo / SP
Accounting organization data
1. Meden Consultoria Empresarial Ltda. ("Meden Consultoria"), a company established in the city of Rio de Janeiro, RJ, at 23, Rua Primeiro de Março, 2nd floor, registered in the National Register of Legal Entities of the Ministry of Finance under nº 27.936.447 / 0001 - 23, registered with the Regional Accounting Council of the State of Rio de Janeiro under number CRC / RJ-008590 /O-0, represented by its undersigned partner, Mr. Fellipe Franco Rosman, accountant, bearer of ID n 20.258.186-4, registered with the CPF under number 111.411.507-00 and with the Regional Accounting Council of Rio de Janeiro under number CRC / RJ130003 / O-8, resident and domiciled in Rio de Janeiro - RJ, with an office at the same address as the one represented, appointed by the management of Brasil Telecom
Comunicação Multimídia SA ("Company") to assess the book value of the net assets formed by certain assets and liabilities recorded in Cash and Cash Equivalents, Fixed Assets and Current Liabilities of the Company.
2. The appraisal report of the net assets formed by certain assets and liabilities recorded in the Company's Cash and Cash Equivalents, Fixed Assets and Current Liabilities as of December 31, 2020, aims to split up the net assets that will be transferred to its parent company Oi SA - In Judicial Recovery ("Oi SA") registered with CNPJ nº 76.535.764 / 0001- 43, in accordance with the provisions of articles 226 and 229 of Law nº 6.404 / 76 (Lei das SA).
Management's responsibility for accounting information
3. The Company's management is responsible for the bookkeeping and preparation of accounting information in accordance with Brazilian accounting practices, as well as for the relevant internal controls that it determined necessary to allow the preparation of such accounting information free of material misstatement, regardless if caused by fraud or error.
The summary of the main accounting practices adopted by the Company is described in Attachment II of the appraisal report.
Scope of work and accountant's responsibility
Our responsibility is to express a conclusion on the book value of the net assets formed by the assets and liabilities identified above as of December 31, 2020, based on the work carried out in accordance with the Technical Communication CTG 2002, approved by the Federal Council of Accounting (CFC), which provides for the application of examination procedures applied to the accounts that record certain assets and liabilities that are included in the annex to this report and that on that date were recorded in the Company's balance sheet. Thus, we carry out the examination of said net assets in accordance with the applicable accounting standards, which require compliance with ethical requirements by the accountant and that the work is planned and carried out with the objective of obtaining reasonable assurance that the net assets covered by our report assessment is free from material misstatement.
The issuance of an appraisal report involves the execution of selected procedures to obtain evidence regarding the amounts recorded. The selected procedures depend on the judgment of the accountant, including the assessment of the risks of material misstatement in the net assets, regardless of whether caused by fraud or error. In this risk assessment, the accountant considers the internal controls relevant to the preparation of the Company's balance sheet to plan the procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of these internal controls of the Company. The work also includes assessing the adequacy of the accounting policies used and the reasonableness of the accounting estimates made by management. We believe that the evidence obtained is sufficient and appropriate to support our conclusion.
6. Based on the work performed, we concluded that the value of Cash and cash equivalents, and Fixed assets of R$ 32,667,235.75 (thirty-two million, six hundred and sixty-seven thousand, two hundred and thirty-five reais and seventy-five cents) and Current Liabilities in the amount of R$ 32,667,235.75 (thirty-two million, six hundred and sixty-seven thousand, two hundred and thirty-five reais and seventy-five cents) recorded in the Company's books, represents, in all the relevant aspects, the book balance of the net assets to be spun off and transferred to Oi SA, evaluated in accordance with Brazilian accounting practices.
Table showing the booked assets and liabilities recorded in the Company's Cash and cash equivalents, Fixed assets and Current Liabilities, assessed as of December 31, 2020, which will be spun off and transferred to Oi S.A ..
Brasil Te le com Comunicação Multimídia S. A.
Saldos e m
SP UN -OFF
SHORT TE RM ASSE TS
14, 535. 26
Cash and cash equivalents
LON G TE RM ASSE TS
FIXE D ASSE TS
- Terminal equipments
- Access network
- Transmission equipment
- Energy equipment
- Climatization equipment
- Surveillance and security equipment
- Tools and instruments
- Improvements in Third Party Goods
- Other fixed assets
SP UN -OFF ASSE TS
SHORT TE RM LIABILITIE S
Suppliers - national
SP UN -OFF LIABILITIE S
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Oi SA em Recuperação Judicial published this content on 21 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 April 2021 15:49:02 UTC.