Vasta Platform Limited (VSTA) 20-F 25 Apr 23 2022 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2022 shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity Registrant Name	Vasta Platform Limited
Entity Central Index Key	0001792829
Current Fiscal Year End Date	--12-31
Entity File Number	001-39415
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	Av. Paulista, 901, 5th Floor
Entity Address, Address Line Two	Bela Vista
Entity Address, City or Town	São Paulo
Entity Address, Postal Zip Code	01310-100
Entity Address, Country	BR
Title of 12(b) Security	Class A common shares, par value US$0.00005 per share
Trading Symbol	VSTA
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Auditor Name	KPMG Auditores Independentes Ltda.
Auditor Firm ID	1124
Auditor Location	São Paulo - Brazil
Business Contact [Member]
Document Information [Line Items]
Contact Personnel Name	Cesar Augusto Silva
Entity Address, Address Line One	Av. Paulista, 901, 5th Floor
Entity Address, Address Line Two	Bela Vista
Entity Address, City or Town	São Paulo
Entity Address, Postal Zip Code	01310-100
Entity Address, Country	BR
City Area Code	+55 11
Local Phone Number	3133-7311
Class A common shares [member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	18,213,794
Class B common shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	64,436,093

Consolidated Statement of Finan

Consolidated Statement of Financial Position - BRL (R$) R$ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents		R$ 45765	R$ 309893
Marketable securities		380,514	166,349
Trade receivables		649,135	505,514
Inventories		266,450	242,363
Taxes recoverable		19,120	24,564
Income tax and social contribution recoverable		17,746	8,771
Prepayments		56,645	40,069
Other receivables		972	2,105
Related parties – other receivables		1,759	501
Total current assets		1,438,106	1,300,129
Non-current assets
Judicial deposits and escrow accounts		194,859	178,824
Deferred income tax and social contribution		170,851	130,405
Equity accounted investees		83,139	0
Other investments and interests in entities		8,272	0
Property, plant and equipment		197,688	185,682
Intangible assets and goodwill		5,427,676	5,538,367	[1]
Total non-current assets		6,082,485	6,033,278
Total Assets		7,520,591	7,333,407
Current liabilities
Bonds and financing		93,779	281,491
Lease liabilities		23,151	26,636
Suppliers		250,647	167,168
Reverse factoring	[2]	155,469	97,619
Income tax and social contribution payable		5,564	16,666
Salaries and social contributions		100,057	62,829
Contractual obligations and deferred income		57,852	46,037
Accounts payable for business combination and acquisition of associates		73,007	20,502
Other liabilities		29,630	20,033
Other liabilities - related parties		54	39,271
Total current liabilities		789,210	778,252
Non-current liabilities
Bonds and financing		749,217	549,735
Lease liabilities		117,412	133,906
Accounts payable for business combination and acquisition of associates		552,270	511,811
Provision for tax, civil and labor losses		651,252	646,850
Contractual obligations and deferred income		0	128
Other liabilities		31,551	47,516
Total non-current liabilities		2,101,702	1,889,946
Shareholder's Equity
Share capital		4,820,815	4,820,815
Capital reserve		80,531	61,488
Treasury shares		(23,880)	(23,880)
Accumulated losses		(247,787)	(193,214)
Total Shareholder's Equity		4,629,679	4,665,209
Total Liabilities and Shareholder's Equity		R$ 7520591	R$ 7333407
[1] Considers the review of goodwill and intangibles assets of the acquisition of EMME and Redação Nota Mil, acquired during the year 2021. As of December 31, 2022, the balance of reverse factoring was R$ 155,469 (R$ 97,619 as of December 31, 2021), and the discount rates of assignment operations carried out by our suppliers with financial institutions had a weighted average of 1.27% per month (as of December 31, 2021, the weighted average was 1.05% per month) and a maximum payment term of 360 days. The balance is initially recognized net of the present value adjustment, which is subsequently recognized as a financial expense.

Consolidated Statement of Profi

Consolidated Statement of Profit or Loss and Other Comprehensive Loss - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Consolidated Statement of Profit or Loss and Other Comprehensive Income
Net revenue from sales and services	R$ 1264280	R$ 947419	R$ 997628
Sales	1,229,827	914,266	967,374
Services	34,453	33,153	30,254
Cost of goods sold and services	(473,135)	(396,829)	(378,003)
Gross profit	791,145	550,590	619,625
Operating income (expenses)
General and administrative expenses	(471,626)	(430,279)	(406,352)
Commercial expenses	(194,043)	(164,439)	(165,169)
Other operating income	1,020	5,554	4,283
Impairment losses on trade receivables	(45,904)	(32,726)	(25,015)
Share of loss equity-accounted investees	(4,512)
Profit (loss) before finance result and taxes	76,080	(71,300)	27,372
Finance result
Finance income	88,557	35,640	20,984
Finance costs	(270,324)	(120,183)	(119,409)
Total finance result	(181,767)	(84,543)	(98,425)
Loss before income tax and social contribution	(105,687)	(155,843)	(71,053)
Total IRPJ and CSLL	51,114	37,089	25,404
Current	10,668	(11,297)	7,874
Deferred	40,446	48,386	17,530
Loss for the year	(54,573)	(118,754)	(45,649)
Other comprehensive income for the year	0	0	0
Total comprehensive loss for the year	R$ 54573	R$ 118754	R$ 45649
Loss per share
Basic	R$ 0.65	R$ 1.44	R$ 0.55
Diluted	R$ 0.65	R$ 1.44	R$ 0.55

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity - BRL (R$) R$ in Thousands	Total	Parent Company's Net Investment [member]	Share capital [member]	Share issuance costs [member]	Share-based compensation reserve for granted [member]	Share-based compensation reserve for vested [member]	Treasury shares	Accumulated losses [member]
Equity at beginning of the period at Dec. 31, 2019	R$ 3100083	R$ 3100083
Share-based payment contributions	686					686
Increase (decrease) through net investment of parent company	(6,335)	(6,335)
Changes in parent company's investment, net		(3,093,748)	3,123,245			(686)		(28,811)
Capital contribution	2,426		2,426
Comprehensive loss for the year
Loss for the year	(45,649)							(45,649)
Total comprehensive loss for the year	(45,649)							(45,649)
Shareholders' contribution and distributions to shareholders
Issuance of common shares at initial public offering (Note 1.2)	1,836,317		1,836,317
Share based compensation granted and issued (Note 23)	38,962				38,962
Share issuance costs, net of taxes	(141,173)			(141,173)
Total shareholders' contribution and distributions to shareholders	1,734,106		1,836,317	(141,173)
Equity at end of the period at Dec. 31, 2020	4,785,317		4,961,988	(141,173)	38,962			(74,460)
Comprehensive loss for the year
Loss for the year	(118,754)							(118,754)
Total comprehensive loss for the year	(118,754)							(118,754)
Shareholders' contribution and distributions to shareholders
Share based compensation granted and issued (Note 23)	22,526				22,526
Share based compensation vested (Note 23)					(31,043)	31,043
Acquisition of shares (Note 23d)	(23,880)						(23,880)
Equity at end of the period at Dec. 31, 2021	4,665,209		4,961,988	(141,173)	30,445	31,043	(23,880)	(193,214)
Comprehensive loss for the year
Loss for the year	(54,573)							(54,573)
Total comprehensive loss for the year	(54,573)							(54,573)
Shareholders' contribution and distributions to shareholders
Share based compensation granted and issued (Note 23)	19,043				19,043
Share based compensation vested (Note 23)					(3,243)	3,243
Acquisition of shares (Note 23d)							(23,880)
Equity at end of the period at Dec. 31, 2022	R$ 4629679		R$ 4961988	R$ 141173	R$ 46245	R$ 34286	R$ 23880	R$ 247787

Consolidated statement of cash

Consolidated statement of cash flows - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Loss before income tax and social contribution	R$ 105687		R$ 155843		R$ 71053
Adjustments for:
Depreciation and amortization	268,714		211,156		174,088
Share of loss profit of equity-accounted investees	4,512		0		0
Impairment losses on trade receivables	45,904		32,726		25,015
Reversal for tax, civil and labor risks, net	(15,099)		(1,986)		(2,092)
Interest on provision for tax, civil and labor losses	42,063		34,300		13,297
Provision for obsolete inventories	40,924		22,117		4,057
Interest on bonds and financing	108,896		43,549		52,935
Interest on loans from related parties	0		0		2,922
Contractual obligations and right to returned goods	11,312		(1,159)		1,454
Interest on accounts payable for business combination and acquisition of associates	65,725		8,158		1,568
Imputed interest on suppliers	19,810		157		2,945
Share-based payment expense	19,043		22,526		39,648
Interest on lease liabilities	13,143		14,984		15,091
Interest on marketable securities	(54,954)		(26,719)		(16,907)
Other finance costs, net	3,441		0		0
Cancellations of right-of-use contracts	616		(195)		0
Residual value of disposals of property and equipment and intangible assets	13,960		124		(454)
Cash flows from operating activities before changes in working capital	482,323		203,895		242,514
Changes in
Trade receivables	(189,329)		(25,408)		(123,412)
Inventories	(65,011)		(14,038)		(20,812)
Prepayments	(16,576)		(12,511)		(4,060)
Taxes recoverable	(16,566)		(4,914)		24,573
Judicial deposits and escrow accounts	(16,035)		(6,076)		184
Other receivables	1,133		(1,789)		4,516
Related parties – other receivables	(1,258)		0		0
Suppliers	121,519		(16,124)		42,620
Salaries and social charges	37,166		(9,890)		(6,693)
Tax payable	(4,039)		5,711		13,629
Contractual obligations and deferred income	375		(2,659)		(2,163)
Other liabilities	(3,084)		(671)		4,295
Other liabilities - related parties	(39,218)		(94,155)		117,299
Cash from operating activities	291,400		21,371		292,490
Payment of interest on leases	(14,941)		(14,692)		(14,675)
Payment of interest on bonds and financing	(92,500)	[1]	(24,922)	[2]	(49,404)
Payment of interest on business combinations	(603)		(1,571)		0
Income tax and social contribution paid	(7,153)		(1,167)		(5,234)
Payment of provision for tax, civil and labor losses	(1,363)		(627)		(7,716)
Net cash from (applied in) operating activities	174,840		(21,608)		215,461
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of property and equipment	(61,143)		(20,910)		(1,642)
Additions of intangible assets	(90,588)		(55,878)		(42,793)
Acquisition of subsidiaries net of cash acquired	(80,559)		(186,218)		(23,147)
Proceeds from investment in marketable securities	1,637,898		2,641,308		1,212,876
Purchase of investment in marketable securities	(1,800,550)		(2,289,836)		(1,687,071)
Net cash (applied in) from investing activities	(394,942)		88,466		(541,777)
CASH FLOWS FROM FINANCING ACTIVITIES
Capital contribution	0		0		2,426
Suppliers - related parties	0		(1,450)		(207,174)
Loans from related parties	0		0		65,600
Payments of loans from related parties	(254,885)		(20,884)		(76,830)
Lease liabilities paid	(27,003)		(21,998)		(12,835)
Acquisition of treasury shares	0		(23,880)		0
Parent Company's Net Investment	0		0		(6,335)
Issuance of common shares in initial public offering	0		0		1,836,317
Transaction costs in initial public offering	0		0		(154,849)
Payments of bonds and financing	(759)		(477,741)		(852,135)
Issuance of securities with related parties	250,000		0		0
Issuance of bonds net off issuance costs	0		497,000		0
Payments of accounts payable for business combination and acquisition of associates	(11,379)		(19,168)		0
Net cash (applied in) from financing activities	(44,026)		(68,121)		594,185
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(264,128)		(1,263)		267,869
Cash and cash equivalents at beginning of period	309,893		311,156		43,287
Cash and cash equivalents at end of period	45,765		309,893		311,156
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	R$ 264128		R$ 1263		R$ 267869
[1] We present below the composition of interest and principal payments considering the issues made:

The Company and Basis of Presen

The Company and Basis of Presentation	12 Months Ended
	Dec. 31, 2022
The Company and Basis of Presentation
The Company and Basis of Presentation	1 The Company and Basis of Presentation 1.1 Vasta Platform Ltd., together with its subsidiaries (the Company) is a publicly held company incorporated in the Cayman Islands on October 16, 2019, with headquarters in the city of São Paulo, Brazil. is a technology-powered education content providing end-to-end educational and digital solutions that cater to all needs of private schools operating in the K- 12 educational segment. Vasta’s fiscal year begins on January 1 of each year and ends on December 31 of the same year. The Company has built a “Platform as a Service”, solution or PaaS, with two main modules: Content & EdTech Platform and Digital Services. The Company’s Content & EdTech Platform combines a multi-brand and tech-enabled array with digital and printed content through long-term contracts with partner schools. Since July 31, 2020, VASTA Platform Ltd. has been a publicly-held company registered with SEC (“The US Securities and Exchange Commission) and its shares are traded on Nasdaq Global Select Market under ticker symbol “VSTA”. 1.2 restructuring and business combinations U ntil July 23, 2020, VASTA Platform, The Business, (referred herein when the company presented its financial statements combined with other entities), 12 Cogna Educação S.A. and its subsidiaries (hereinafter referred to as “ Cogna ” or “Parent Entity”, or in combination with its subsidiaries, “ Cogna Group”). On January 1, 2020, the business activities were restructured in the legal entity Somos Sistemas de Ensino S.A (“ Somos Sistemas ”). On January 7, 2020, the Company concluded the acquisition of the entire ownership interest in Pluri . On February 13, 2020, the Company concluded the acquisition of the entire ownership interest in Mind Makers. On July 23, 2020, prior to the completion of the Initial Public Offering – IPO, the ‘Board of Directors’ Meeting approved the Contribution Agreement which Cogna ( Vasta’s Parent Company) contributed with 100% of the shares issued by Somos Sistemas held by Cogna to Vasta Platform’s share capital. After the contribution, Somos Sistemas became wholly owned by Vasta’s Parent Company, which, in turn, continued to be controlled by Cogna . In addition, Cogna contributed with shareholders capital in the amount of R$ 2,426 in cash on July 23, 2020. On March 2, 2021, the Company acquired an ownership interest in Sociedade Educacional da Lagoa Ltda.(“SEL”) through its wholly owned subsidiary Somos Sistemas de Ensino S.A. See Note 5 On May 27, 2021, the Company acquired an ownership interest in Nota 1000 Serviços Educacionais S.A (“ Redação Nota 1000 Somos Sistemas de Ensino S.A. See Note 5 On August 1, 2021, the Company acquired an ownership interest in EMME – Produções de Materiais em Multimídia (“EMME”) through its wholly owned subsidiary Somos Sistemas de Ensino S.A. See Note 5 On October 29, 2021, the Company acquired an equity interest in Editora De Gouges SA – Learning System Eleva - (“De Gouges”) through its wholly-owned subsidiary Somos Sistemas de Ensino S.A. See Note 5 On January 14 , 202 2 , the Company acquired an equity interest in Phidelis Tecnologia Desenvolvimento de Sistemas Ltda. and MVP Consultoria e Sistemas Ltda – through its wholly-owned subsidiary Somos Sistemas de Ensino S.A. See Note 5 On July 19, 2022, the Company acquired a non-controlling interest (45%) in Educbank Gestão de Pagamentos Educacionais S.A. (“Educbank”). The consideration paid was R$ 87,651, of which R$ 63,814 was paid in cash and the remaining amount of R$ 23,837 to be paid in four cash installments according to the growth of students served by Educbank. On July 19, 2022, the Company acquired a non-controlling interest (10%) in Flex Flix Limited (“Flex Flix”). The consideration paid was R$ 8,271, paid in cash. The amount paid to acquire a stake in this company was recorded in “other investments and interests in entities”. The Consolidated Financial Statements comprise the following entities, which are all fully owned by the Company: Company Interest December 31, 2022 December 31, 2021 Somos Sistemas de Ensino S.A ("Somos Sistemas") 100% 100% Livraria Livro Fácil Ltda. ("Livro Fácil") 100% 100% A & R Comercio e Serviços de Informática Ltda. (“Pluri”) 100% 100% Mind Makers Editora Educacional (“Mind Makers”) (i) - 100% Colégio Anglo São Paulo 100% 100% Phidelis Tecnologia Desenvolvimento de Sistemas Ltda. (“Phidelis”) 100% - MVP Consultoria e Sistemas Ltda. (“MVP”) 100% - Meritt Informação Educacional Ltda (“Meritt”) (i) - 100% Sociedade Educacional da Lagoa Ltda (“SEL”) 100% 100% Nota 1000 1000 - 100% EMME – Produções de Materiais em Multimídia Ltda (“EMME”). 100% 100% Editora De Gouges S.A ("De Gouges") (i) - 100% (i) Entities that were merged during the fiscal year ended December 31,2022

Basis of preparation and presen

Basis of preparation and presentation of the Consolidated Financial Statements	12 Months Ended
	Dec. 31, 2022
Basis of preparation and presentation of Consolidated Financial Statements
Basis of preparation and presentation of Consolidated Financial Statements	2 and presentation of Consolidated Financial Statements The Consolidated Financial Statements of Vasta Platform, the reporting entity, have been prepared in accordance with the International Financial Reporting Standards (IFRS) and interpretations as issued by the International Accounting Standards Board (“IASB”). The Consolidated Financial Statements as of December 31, 202 2 were approved by the Executive Board on April 25 , 20 23 . a. Consolidation The Company consolidates all entities over which it has control, that is, when it is exposed or is entitled to variable returns from its involvement with the investee and has the ability to direct the relevant activities of the investee. The subsidiaries included in the consolidation are described in the following note. Subsidiaries are fully consolidated from the date on which control is transferred to the Company Consolidation is interrupted from the date on which the Company ceases to have control. Transactions, balances and unrealized gains on transactions between Company companies are eliminated . The accounting policies of the new subsidiaries are changed, when necessary, to ensure consistency with the policies adopted by the Company. Below is a list of the companies controlled by the Company for the years ended December 31, 202 2 and 202 1 : Company Interest December 31, 2022 December 31, 2021 Somos Sistemas de Ensino S.A. 100% 100% Livraria Livro Fácil Ltda. ("Livro Fácil") 100% 100% A & R Comercio e Serviços de Informática Ltda. (“Pluri”) 100% 100% Mind Makers Editora Educacional (“Mind Makers”) - 100% Colégio Anglo São Paulo 100% 100% Phidelis Tecnologia Desenvolvimento de Sistemas Ltda. (“Phidelis”) 100% - MVP Consultoria e Sistemas Ltda. (“MVP”) 100% - Meritt Informação Educacional Ltda (“Meritt”) - 100% Sociedade Educacional da Lagoa Ltda (“SEL”) 100% 100% Nota 1000 1000 - 100% EMME – Produções de Materiais em Multimídia Ltda (“EMME”). 100% 100% Editora De Gouges S.A ("De Gouges") - 100% b. Associates Associates are those entities in which the Group, has significant influence, but does not control or jointly control, over the financial and operating policies. Investments in associates are accounted for using the equity method. Such investments are initially recognized at cost, which includes transaction costs. After initial recognition, the consolidated financial statements include the Group's share of the profit or loss and other comprehensive income of equity-accounted investees, until the date on which significant influence ceases. c. Operating segment The information by operating segment is presented in a manner consistent with the internal report provided to the Executive Board, which is the Chief Operating Decision Maker (CODM) in addition to being responsible for allocating resources, evaluating performance and making strategic decisions in the Company. The Executive Board considers the business to be segregated into Content EdTech and Digital Service. d. Cash Generating Units – (“CGU”) For purposes e. Functional and Presentation Currency The Consolidated Financial Statements are presented in thousands of Brazilian Reais (“R$”), which is the Company's functional currency. All financial information presented in R$ has been rounded to the nearest thousand , except as otherwise indicated. f. Measurement basis The Consolidated Financial Statements were prepared based on historical cost, except for certain assets and liabilities that are measured at fair value, as explained in the accounting policies below.

Use of estimates and judgements

Use of estimates and judgements	12 Months Ended
	Dec. 31, 2022
Use of estimates and judgements
Use of estimates and judgements	3 Use of estimates and judgements In preparing the Consolidated Financial Statements, Management has made judgements and estimates that affect the application of Company´ accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Those estimates and assumptions are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable and relevant under the circumstances. Revisions to estimates are recognized prospectively. 3.1 Judgements a. Determination of the lease period The Company has lease contracts where it acts as lessee, and it is related to warehousing, equipment and computers used to learning systems and education solutions. In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be exercised (or not terminated). For leases of warehouses, equipment or even computer used in education solutions, the following factors are normally the most relevant: • If there are significant penalties for termination (or not to extend), the Company is reasonably certain to extend (or not terminate) the lease. • If there are any leasehold improvements with significant residual balances, the Company is reasonably certain to extend (or not terminate) the lease. • Also, the Company considers other factors including past practices related to the use of specific categories of assets (leased or owned assets) as well as the historical length of the leases and the costs and business disruptions required to replace the leased asset. See Note 1 7 . 3.2 Assumptions and estimation uncertainties a. Deferred Income tax and social contribution The liability method is used to account for deferred income tax and social contribution in respect of temporary differences between the carrying amount of assets and liabilities and the related tax bases. The amount of deferred tax assets is reviewed at the end of each reporting period and reduced for the amount that is no longer probable to be realized through future taxable income. The estimates of the availability of future taxable income against which deductible temporary differences and tax losses may be used to reduce income taxes expenses, therefore, deferred tax assets are subject to significant judgement. Additionally, future taxable income may be higher or lower than the estimates considered in determining the deferred tax assets. See Note 23 . b. Provision for risks of tax, civil and labor losses The Company is a party to judicial and administrative proceedings. We accounts for provisions for all judicial proceedings whose likelihood of loss is probable. The assessment of the likelihood of a loss and the estimate of probable disbursements by the Company, in connection of such losses, include the evaluation of available evidence as well the opinion of internal and external legal advisors. See Note 2 2 . c. Impairment losses on trade receivables The expected credit losses (“ECL”) for financial assets are based on assumptions about risk of default and expected loss rates. The Company uses judgement in making these assumptions and selecting the inputs to the impairment calculation, based on the Company’s historical collection information, existing market conditions, as well as forward looking estimates at the end of each reporting period. Note 10 d. Provision for inventory obsolescence The Company adopts as a criteria for the provision of inventory losses estimating the percentage of loss based on the historical production index, which considers the production aging data by type of product. The Company considers the editorial renewal calendar of its products to determine the number of periods in which the products may become obsolescent. In addition, the Company assesses whether inventories are overvalued, that is, whether the selling price is lower than the average cost of production. See note 11 e. Impairment of Goodwill The Company annually tests goodwill for impairment based on the recoverable amounts of Cash Generating Units (CGUs), determined based on estimated value-in-use calculations. The value in use calculation is based on a discounted cash flow model. The cash flows are derived from the budget for a foreseeable future, and it do not include restructuring activities to which the Company has not yet committed or significant future investments that will enhance the performance of the assets of the CGU being tested. The recoverable amount is sensitive to the discount rate used for the Discounted Cash Flow (DCF) model as well as to expected future cash-inflows and the growth rate used for extrapolation purposes. These estimates are most relevant to goodwill recognized by the Company. The key assumptions used to determine the recoverable amount of the different CGUs are disclosed and further explained in Note 13 f. Rights to Returned Goods and Refund Liabilities Pursuant to the terms of the contracts with some customers, they are required to provide the Company with an estimate of the number of students that will access the content in the next school year (which typically starts in February of the following year), allowing the Company to start the delivery of its products. Since the contracts allows product returns (generally for period of four months past experience , assuming that the other conditions for revenue recognition are met. Therefore, the amount of revenue recognized is adjusted for expected returns, which are estimated based on historical data on a portfolio basis. In these circumstances a refund liability and a right to recover returned goods asset are recognized . See Note 1 8 . The right to recover returned goods asset is measured at the former carrying amount of the inventory less any expected costs to recover goods. The refund liability is included in Contractual Obligations and Deferred Income and the right to recover returned goods is included in Inventories. The Company reviews its estimate of expected returns at each reporting date and updates the amounts of the asset and liability accordingly. See Note 1 1 . g. Fair value measurements and valuation processes In estimating the fair value of an asset or a liability, the Company uses market-observable data to the extent it is available. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: • Level 1 • Level 2 • Level 3 Where Level 1 2 3 The valuations of identifiable assets and contingent liabilities in business combinations could be particularly sensitive to changes in one rocess of such items is provided in Note 7 . Fair value measurement assumptions are also used for determination of expenses with Share-based Compensation, which are disclosed in Note 2 4 . h. Purchase Price Allocation – Business combination During the process of allocating the acquisition price in a business combination, management records the fair value of the consideration transferred (including contingent consideration) and the fair value of the assets acquired and liabilities assumed. The valuation techniques used for measuring the fair value of material assets acquired were as follows: - Property, plant and equipment uses Market comparison technique and cost technique: The valuation model considers market prices for similar items when they are available, and depreciated replacement cost when appropriate. Depreciated replacement cost reflects adjustments for physical deterioration as well as functional and economic obsolescence; - Intangible assets use Relief-from-royalty method and multi-period excess earnings method: The relief-from-royalty method considers the discounted estimated royalty payments that are expected to be avoided as a result of the patents being owned. The multi-period excess earnings method considers the present value of net cash flows expected to be generated by the customer relationships, by excluding any cash flows related to contributory assets; - Inventories uses Market comparison technique: The fair value is determined based on the estimated selling price in the ordinary course of business less the estimated costs of completion and sale, and a reasonable profit margin based on the effort required to complete and sell the inventories.

Significant accounting policies

Significant accounting policies and new and not yet effective accounting standards	12 Months Ended
	Dec. 31, 2022
New accounting policies and significant accounting policies adopted
New accounting policies and significant accounting policies adopted	4. Significant accounting policies and new and not yet effective accounting standards 4.1 A number of new standards, amendments and interpretations were effective for annual periods beginning after January 1, 2022, none of which had a material impact. Below are presented the new and not yet effective standards: • Insurance contracts (IFRS 17 • Income tax Deferred (Amendments to IAS 12 • Classification of liabilities as current or non-current (Amendments to IAS 1 • Disclosure of accounting Policies (Amendments to IAS 1 2 The new and not yet effective accounting standards, when adopted, are not expected to have a material impact on these consolidated financial statements. 4.2 Significant accounting policies The significant accounting policies applied in the preparation of the Consolidated Financial Statements are presented below. These policies have been consistently applied in the periods presented herein. a. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, bank deposits and highly liquid short-term investments and have maturities of b. Financial Assets and Liabilities i Classification Financial Assets’ classification depends on the entity’s business model for managing them and if their contractual cash flows represent solely payments of principal and interest. Based on this assessment Financial Assets are classified as measured: at amortized cost, at FVTOCI (fair value through other comprehensive income); or at FVTPL (fair value through profit or loss). A business model to manage financial assets refers to the way the Company manages its financial assets to generate cash flows, determining if the cash flows will occur through the collection of contractual cash flows at maturity date, through the sale of the financial asset, or both. The information considered in the business model evaluation includes the following: • The policies and goals established for the portfolio of financial assets and feasibility of these policies. They include whether management’s strategy focuses on obtaining contractual interest income, maintaining a certain interest rate profile, matching the duration of financial assets with the duration of related liabilities or expected cash outflows, or the realization of cash flows through the sale of assets. • how the performance of the portfolio is evaluated and reported to the Company’s Management. • risks that affect the performance of the business model (and the financial assets held in that business model) and the manner in which those risks are managed. • how business managers are compensated - for example, if the compensation is based on the fair value of managed assets or on the contractual cash flows obtained; and • the volume and timing of sales of financial assets in prior periods, the reasons for such sales and future sales expectations. For assessing whether contractual cash flows represent solely payments of principal and interest, “principal” is defined as the fair value of the financial asset upon initial recognition. “Interest” is defined as a consideration for the amount of cash at the time and for the credit risk associated with outstanding principal amount during a certain period and for other risks and base costs of loans (for example, liquidity risk and administrative costs), as well as for the profit margin. The Company considers the contractual terms of the instruments to evaluate whether the contractual cash flows are only payments of principal and interest. This includes evaluating whether the financial asset contains a contractual term that could change the timing or amount of the contractual cash flows so that it would not meet this condition. In making this evaluation, the Company considers the following: • contingent events that change the amount or timing of cash flows. • terms that may adjust the contractual rate, including variable rates. • the prepayment and the extension of the term; and • the terms that limit the access of the Company to cash flows from specific assets (for example, based on the performance of an asset). Due to their nature, as of December 31, 202 2 and 202 1 the Company’s financial assets are classified as “measured at amortized cost” , except for the Marketable securities and other investments and interests in entities, which are classified as “measured at fair value through profit or loss”. Financial assets are not reclassified after initial recognition, unless the Company changes the business model for the management of financial assets, in which case all financial assets affected are reclassified on the first day of the reporting period subsequent to the change in the business model. Financial liabilities are classified as measured as amortized cost or at FVTPL. A financial liability is classified as measured at fair value through profit or loss if it is classified as held for trading, if it is a derivative or assigned as such upon initial recognition. Due to their nature, as of December 31, 202 2 and 202 1 the Company’s financial liabilities are classified as “measured at amortized cost”. ii. Initial Recognition and Subsequent Measurement Trade receivables are initially recognized on the date they were originated. All other financial assets and liabilities are initially recognized when the Company becomes a party to the instrument’s contractual provisions. A financial asset (unless it is trade receivable without a significant financing component) or a financial liability is initially measured at fair value, plus, for an item not measured at FVTPL (fair value through profit or loss), transaction costs which are directly attributable to its acquisition or issuance. A trade receivable without a significant financing component is initially measured at its transaction price. Financial assets carried at fair value through profit or loss are initially recognized at fair value, and transaction costs are expensed in statements of profit or loss. Financial assets are derecognized when the rights to receive the cash flows expired or have been transferred and the Company has transferred substantially all the risks and rewards of ownership. Gains or losses arising from changes in the fair value of the "Financial assets at fair value through profit or loss", as well as interest income accrued over “Assets measured at amortized cost”, are presented in statements of profit or loss under "Finance income" in the period in which they arise. The Company derecognizes a financial liability when its contractual obligations are discharged or canceled or expired. The Company also derecognizes a financial liability when the terms are modified, and the cash flows of the modified liability are substantially different. On derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in statements of profit or loss. iii. Offsetting of financial assets and liabilities Financial assets and liabilities are offset, and the net amount presented in the Consolidated Statement of Financial Position when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle them a net basis or realize the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the Company or the counterparty. iv. Impairment of financial assets The Company assesses on a prospective basis the expected credit loss (“ECL”) associated with its financial asset instruments carried at amortized cost, with accruals and reversals recorded in the Statement of Profit or Loss . ECLs are based on the difference between the contractual cash flows due in accordance with the contractual terms and all the cash flows that the Company expects to receive, discounted at an approximation of the original effective interest rate. The methodology applied depends on whether there has been a significant increase in credit risk. For Note 10 c. Inventories Inventories are stated at cost or net realizable value, whichever is lower. The method of valuation of inventories is the average cost. The cost of finished goods and work in progress comprises project costs, raw materials, publishing costs (e.g., direct labor, other direct costs and the related direct production costs). Editorial costs incurred during the development phase of a new product are presented within inventories as “work in progress”, as materials are substantially revised annually. After the conclusion of its production and allocation in the line of "finished products", the sales of the product begins and any subsequent costs incurred are recognized in profit or loss as "cost of goods sold and services ", according to the accrual period on which the services are provided. The Company recognizes a provision for losses on finished products and low-handling raw materials, which are periodically analyzed and evaluated in terms of the expected realization of these inventories. If losses are not expected, the provision is reversed. Management periodically assesses whether obsolete inventories need to be destroyed. The Company also recognizes the right of return on its inventories. See Note 3.2 f d. Property, Plant and Equipment Property, plant and equipment is stated at historical cost less accumulated depreciation. Historical cost includes the cost of acquisition. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with these costs will flow to the Company, and they can be measured reliably. The carrying amount of the replaced items or parts is derecognized. All other repairs and maintenance are charged to statement of Profit or Loss during the financial period in which they are incurred. Depreciation of assets is calculated using the straight-line method to reduce their cost to their residual values over their estimated useful lives, as follows: Years Property, buildings and leasehold improvements 5-20 IT equipment 3-10 Furniture, equipment and fittings 3-10 Right of use assets 3-15 The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. The Company did not identify changes in the useful life at December 31, 202 2 and 202 1 . Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized in statement of Profit or Loss when control of the asset is transferred. See Note 1 3 . e. Business Combination Acquisitions of businesses are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at acquisition date fair value, and the amount of any non-controlling interests in the acquiree. Acquisition-related costs are expensed as incurred and included in general and administrative expenses. At the acquisition date, the identifiable assets acquired, and the liabilities assumed are recognized at their fair value at the acquisition date. Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree, and the fair value of the acquirer’s previously held equity interest in the acquiree (if any) over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. Any contingent consideration is measured at fair value at the date of acquisition. If an obligation to pay contingent consideration that meets the definition of a financial instrument is classified as equity, then it is not remeasured and settlement is accounted for within equity. Otherwise, other contingent consideration is remeasured at fair value at each reporting date and subsequent changes in the fair value of the contingent consideration are recognized in statement of profit or loss. If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, the Company reports provisional amounts for the items for which the accounting is incomplete. Those provisional amounts are adjusted during the measurement period or additional assets or liabilities are recognized, to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the amounts recognized as of that date. See Note 5 f. Intangible Assets and Goodwill The Company’s intangible assets are mostly comprised of software, trademarks, customer portfolio, platform content production, trade agreement, copyrights and goodwill. Those items are further described below: Goodwill Goodwill arising on the acquisition of subsidiaries is measured as set out in Note 1 4 . b. Software Computer software licenses purchased are capitalized based on the costs incurred to acquire and bring to use the specific software or to develop new functionalities to existing ones. Directly attributable costs that are capitalized as part of the software product / project include the software / project development employee costs and an appropriate portion of significant direct expenses. Other development costs and subsequent expenditures that do not meet these capitalization criteria ( e.g. maintenance and on-going operations) are recognized as an expense as incurred. Development costs previously recorded as an expense are not recognized as an asset in a subsequent period. Software recognized as assets is amortized using straight-line method over its estimated useful lives, not greater than 5 years. The Company did not identify changes in the useful life at December 31, 202 2 and 202 1 . c. Trademarks Separately acquired trademarks are initially stated at historical cost. Trademarks acquired in a business combination are recognized at fair value at the acquisition date. Subsequently, trademarks are amortized to the end of their useful lives. Amortization is calculated using the straight-line method to allocate the cost of trademarks over their estimated useful lives of 20 to 30 years . The Company did not identify changes in the useful life at December 31, 20 22 and 202 1 . d. Customer portfolio Customer portfolios acquired in a business combination are recognized at fair value at the acquisition date. The contractual customer relationship has an estimated finite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the straight-line method over the expected life of the customer relationship (from 12 to 13 years). The Company did not identify changes in the useful life at December 31, 202 2 and 202 1 . e. Platform content production Development expenditure with platform content is capitalized only if the expenditure can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable and the Company intends to and has sufficient resources to complete development and to use or sell the asset. Otherwise, it is recognized in profit or loss as incurred. Subsequent to initial recognition, development expenditure is measured at cost less accumulated amortization and any accumulated impairment losses. Amortization is calculated on the straight-line method over their estimated useful lives of 3 years. The Company did not identify changes in the useful life at December 31, 202 2 and 202 1 . g. Copyrights The Company accounts for different copyright agreements as follows: i. Copyrights are paid to the authors of the content included in the textbooks produced by the Company and are calculated based on agreed upon percentages of revenue or cash inflows related to the books sold, as defined in each contract. Payments are made on a monthly, quarterly, semi-annually, annually or hybrid basis. For these contracts the authors maintain the legal title of the copyrights. These copyrights are charged to the statement of profit or loss and other comprehensive income on an accrual basis when the products are sold. ii. In some instances where the authors maintain the legal title of the copyrights, contracts require the prepayment of part or even the full down payment of forecasted sales before the authors start the production of the content. In such cases, copyrights are recognized as a “Prepayments” in the Consolidated Statement of Financial Position and charged to statements of Profit or Loss when the books are sold based on the related sales forecast. The Company reviews regularly the forecast sales to determine if an impairment is required. iii. When the Company purchases permanently the legal title of the copyright from the authors, the amounts are capitalized in “Intangible Assets and Goodwill” as “Other intangible assets” and are amortized on the straight-line method over their estimated useful lives, which are not greater than 3 years, which is the content renewal estimated timeline. The Company did not identify changes in the useful life as of December 31, 202 2 and 202 1 . h. Impairment of non-financial assets Assets that are subject to depreciation or amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized when the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and its value in use. Assets that have an indefinite useful life, for example goodwill, are not subject to amortization and are tested annually for impairment. Goodwill impairment tests are undertaken annually or more frequently if events or changes in circumstances indicate potential impairment, at the end of each fiscal year. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable and independent cash inflows (Cash-generating units – CGU’s). For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the CGUs (or groups of CGUs) that is expected to benefit from the synergies of the combination. Non-financial assets, other than goodwill, that have been adjusted following impairment are subsequently reviewed for possible reversal of the impairment at each reporting date. The impairment of goodwill recognized in statement of profit or loss is not reversed . See Note 5 i. Bonds and Financing The Bonds and financing are recognized initially at fair value, net of transaction costs incurred, and are subsequently carried at amortized cost. Any difference between the proceeds (net of transaction costs) and the total amount payable is recognized in consolidated profit and loss over the period of the bonds and financing using the effective interest rate method. Following initial recognition, the liability component of a compound financial instrument is measured at amortized cost using the effective interest rate method. The Bonds and financing are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve period of time to be prepared for its intended use or sale, are capitalized as part of the cost of that asset when it is probable that future economic benefits associated with the item will flow to the Company and the costs can be measured reliably. The other borrowing costs are recognized as finance costs in the period in which they are incurred. See Note 1 5 . j. Suppliers (including Reverse Factoring) Suppliers are obligations to pay for goods or services that have been acquired in the ordinary course of business. They are recognized initially at fair value and subsequently measured at amortized cost using the effective interest rate method. Some of the Company’s domestic suppliers sell their products with extended payment terms and may subsequently transfer their receivables due by the Company to financial institutions without right of recourse, in a transaction characterized as “Reverse Factoring”. The Company charged interest over the payment term at a rate that is commensurate with its own credit risk being subsequently recorded as finance cost using the effective interest rate method. The operation does not affect the deadlines, prices and conditions previously agreed. The suppliers specifically related to Reverse Factoring are segregated in the Note 1 6 . In addition, the effects of Reverse Factoring on Cash Flows are recognized in “Cash flow from operating activities”. k. Leases Right-of-use assets The Company recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. The recognized right-of-use assets are depreciated on a straight-line basis over the shorter of its estimated useful life or the lease term, as most of the Company’ leases are related to property leases. ii. Lease liabilities At the commencement date of the lease, the Company recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Company and payments of penalties for terminating a lease, if the lease term reflects the Company exercising the option to terminate. The variable lease payments that do not depend on an index or a rate are recognized as expense in the period on which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Company uses the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. The accounting amount of the lease liabilities is remeasured if there is a change in the term of the lease, a change in fixed lease payments or a change in valuation to purchase the right-of-use asset. iii. Short-term leases and leases of low-value assets The Company applies the short-term lease recognition exemption to its short-term leases of properties (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of office equipment that are considered of low value. Lease payments on short-term leases and leases of low-value assets are recognized as expense on a straight-line basis over the lease. iv. Determining the lease term of contracts with renewal options The Company determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if reasonably certain to be exercised. The Company has the option, under some of its leases to lease the assets for additional terms. The Company applies judgment in evaluating whether it is reasonably certain to exercise the option to renew. That is, it considers all relevant factors that create an economic incentive for it to exercise the renewal. After the commencement date, the Company reassesses the lease term if there is a significant event or change in circumstances that is within its control and affects its ability to exercise (or not to exercise) the option to renew (e.g., a change in business strategy). l. Provision for tax, civil and labor losses The provisions for risks related to lawsuits and administrative proceedings involving tax, civil and labor matters are recognized when ( i ) the Company has a present legal or constructive obligation as a result of past events; (ii) it is probable that an outflow of resources will be required to settle the obligation; and (iii) the amount can be reliably estimated. The likelihood of loss of judicial/administrative proceedings in which the Company appears as a defendant is assessed by Management on the financial statement dates. Provisions are recorded in an amount the Company believes it is adequate to cover probable losses, being determined by the expected future cash flows to settle the obligation that reflects current risks specific to the liability. The increase in the provision due to the time elapsed is recognized as interest expense. Penalties assessed on these proceedings are recognized in general and administrative expenses when incurred. See Note 2 2 . m. Current and Deferred income tax and social contribution Taxes comprise current and deferred Corporate Income Tax (IRPJ) and Social Contribution on Net Income (CSLL), calculated on pre-tax profit basis. IRPJ and CSLL are calculated based on the nominal statutory rates of 25% and 9%, respectively, adjusted by non-taxable/nondeductible items provided for by law. Deferred income tax and social contribution are calculated on income tax and social contribution losses and other temporary differences in relation to the balances of assets and liabilities in the Statement of Financial Position. The deferred income tax and social contribution assets are fully accounted for, except when it is not probable that assets will be recovered by future taxable income. Current and deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when current and deferred tax assets and liabilities are related to the tax levied by the same tax authority on the taxable entity where there is an intention to settle the balances on a net basis. See Note 2 3 . n. Employee Benefits The Company has the following employee benefits: Short-term employee benefits Obligations for short-term employee benefits are recognized as personnel expenses as the related service is rendered. The liability is recognized at the amount expected to be paid, if the Company has a legal or constructive obligation to pay this amount as a result of prior service rendered by the employee, and the obligation can be reliably estimated. The Company also provides its commercial team with commissions calculated considering existing sales and revenue targets that are periodically reviewed. These amounts are accrued in “Salaries and Social contributions” on a monthly basis based on the achievements of such goals, with payments generally being made twice a year. Since commissions are paid based on the annual sales of each contract, the Company elected to use the practical expedient to expense the costs as incurred. b. Pension Contributions The Company offered a defined contribution plan to its employees and once the contributions have been made, the Company has no additional payment obligation, and the costs are therefore recognized in the month in which the contribution is incurred ( i.e employees have rendered services entitling them to the right to receive those benefits), which is consistent with recognition of payroll expenses in statement of Profit or Loss. c. Share-based Payments The Company compensates part of its Management and some employees through share-based compensation by plans involving Restricted Share Units or “RSU”. The RSU plans are based on Company shares, through a fixed share price (market price) determined on the grant date which the Company has the obligation of delivering shares without cash settled payment. The Share based payment is divided in the following: ( i ) L ong Term Investment – “ILP” – Refers to RSU plans for which some Company management and employees are eligible. In those plans the Company will deliver a fixed number of shares at a fixed share price measured at the Plan’s inception. The Company recognizes the expense and inherent labor taxes related to the RSU plan in profit and loss. In addition, the effects of the constructive obligation are recognized in statement of financial position under the share-based compensation reserve in equity and the corresponding taxes under “Salaries and Contributions”. 2 4 d. Termination benefits Termination benefits are payable when employment is terminated by the Company before the normal retirement date, or whenever an employee accepts voluntary resignation in exchange for these benefits. The Company recognizes termination benefits at the earlier of the following dates: ( i ) when the Company can no longer withdraw the offer of those benefits; and (ii) when the entity recognizes costs for a restructuring and involves the payment of termination benefits. In the case of an offer made to encourage voluntary redundancy, the termination benefits are measured based on the number of employees expected to accept the offer. Benefits falling due more than 12 o. Shareholders’ Equity Until July 23, 2020 the Company presented its financial statement based on the combined carve-out, where the capital reserves were not presented, and all effects were recorded in Parent Company’s Net Investment. As a consequence of the restructuring completed on July 23, 2020, the Company presented its consolidated financial statements considering a new basis of preparation where the share capital, capital reserve and accumulated losses were disclosed. Since July 1, 2020, amounts previously recorded in Parent Company’s net investment in Equity have been recorded as net income and portions were reclassified to share capital and capital reserve. ii. Share Capital On December 31, 202 2 and 2021 the Company’s share capital was R$ 4,820,815, divided into 82,649,887 shares of which 64,436,093 are Class B shares held by Cogna Group and 18,213,794 are Class A common shares held by others. iii. Capital reserve The breakdown of capital reserves is arising from share-based payment in the amount of R$ 80,531 on December 31, 2022 , and R$61,488 on December 31,2021 . S ee Note 2 4 . iv. Treasury shares On December 31, 202 2 and 2021 , the Company holds shares in treasury in the amount of R$ 23,880, corresponding to 1,000,000 shares, see Note 2 4 . p. Revenue Recognition The Company generates most of its revenue from the sale of textbooks (“publishing” when sold as standalone products or “PAR” when bundled as an educational platform) and learning systems in printed and digital formats to private schools through short-term transactions or term contracts with an average period from three five years Contents in printed and digital formats related to these textbooks and learnings systems are mostly the same, with minor supplements presented in digital format only. Therefore, revenue from educational contents is recognized when the Company delivers the content in printed and digital format. The Company also sells its products directly to students and parents through its e-commerce platform. Since the Company obtains control of the goods sold before they are transferred to its customers, the Company assessed the principal versus agent relationship and determined that it is a principal in the transaction. Therefore, revenue is recognized in a gross amount of consideration to which the Company is entitled in exchange for the specified goods transferred. Pursuant to the terms of the contracts with some customers, they are required to provide the Company with an estimate of the number of students that will access the content in the next school year (which typically starts in February of the following year), allowing the Company to start the delivery of its products. Since the contracts allow product returns (generally for period of four months past experience , assuming that the other conditions for revenue recognition are met. Therefore, the amount of revenue recognized is adjusted for expected returns, which are estimated based on historical data on a portfolio basis. In these circumstances a contractual obligation and a right to recover returned goods asset are recognized. The right to recover returned goods asset is measured at the former carrying amount of the inve

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2022
Business Combinations
Business Combinations	5 Business Combinations The Company concluded some acquisitions to improve its portfolio of educational solutions as presented below: • January 14, 2022 • January 14, 2022 – MVP Consultoria e Sistemas Ltda. The Company’ business combinations are described below: Business Combinations during 2022 MVP Consultoria e Sistemas Ltda . and Phidelis Tecnologia Desenvolvimento de Sistemas Ltda. (“ Phidelis ”) On January 14, 2022, the Company acquired though its subsidiary, Somos Sistemas de Ensino S.A. (“Somos Sistemas”), the entities Phidelis Tecnologia Desenvolvimento de Sistemas and MVP Consultoria e Sistemas Ltda. (“Phidelis”). 2023 2024 Phidelis MVP Total Current assets Cash and cash equivalents 162 217 379 Trade receivables 65 131 196 Taxes recoverable 1 4 5 Total current assets 228 352 580 Non-current assets Property, plant and equipment - 72 72 Intangible assets - Customer Portfolio 1,521 2,313 3,834 Intangible assets - Software 523 2,702 3,225 Total non-current assets 2,044 5,087 7,131 Total Assets 2,272 5,439 7,711 Current liabilities Salaries and social contributions 58 4 62 Taxes payable - 10 10 Income tax and social contribution payable - 80 80 Other liabilities - 12 12 Total current liabilities 58 106 164 Non-current liabilities Provision for tax, civil and labor losses - 2,504 2,504 Total non-current liabilities - 2,504 2,504 Total liabilities 58 2,610 2,668 Net identifiable assets at fair value (A) 2,214 2,829 5,043 Total Consideration transferred (B) 3,600 18,366 21,966 Goodwill (B – A) (i) 1,386 15,537 16,923 (i) Goodwill is recognized based on expected synergies from combining the operations of the acquirees and of the Company, as well as an expected increase in the Company’s market-share due to the penetration of the Company’s products and services in regions where the Company did not operate before. At the time of the acquisition, future tax deductibility is probable as certain actions, necessary to integrate the businesses from a tax perspective, are intended by management and considered feasible from a legal perspective. From the date of acquisition to December 31, 2022, Phidelis contributed to a net revenue from sales and services in the amount of R$5,157, and net profit for the year in the amount of R$ 780. If the acquisition had occurred on January 1, 2022, Management estimates that net revenue from sales and services would have been R$ 1,264,287 and net loss for the year would have been R$ (54,572). Business Combinations during 2021 Sociedade Educacional da Lagoa Ltda. (“SEL”) On March 2, 2021, the Company acquired through its subsidiary, Somos Sistemas de Ensino S.A. (“ Somos Sistemas ”), the entity Sociedade Educacional da Lagoa Ltda. (“SEL”). SEL provides technical and pedagogical services to education platforms, including the maintenance of such platforms, development and improvement of contents and training of professionals. The consideration paid was R$ 65,000, of which R$ 38,124 was paid in cash and the remaining amount of R$ 26,876 is subject to certain post-closing price adjustments (conditioned to the minimum amount of R$ 39,400 total contract revenue for the next two years, 2023 2024 adjusted by the positive variation of 100% of CDI). Nota 1000 Serviços Educacionais S.A. (“ Redação Nota 1000 On May 27, 2021, the Company acquired through its subsidiary, Somos Sistemas de Ensino S.A. (“ Somos Sistemas ”) the entity Redação Nota 1000 The Redação Nota 1000 i ) solely by essay-review specialists (manual); (ii) on an automated basis by the company’s software, with a final review by a specialist (semi-automated); or (iii) exclusively on an automated basis by the company’s software. The consideration transferred was R$ 11,387, of which R$ 4,093 was paid in cash and the remaining amount of R$ 7,294 will be paid in installments with final due date on December 24, 2026 (each installment adjusted by the positive variation of 100% of CDI index). In addition, the Company recognized a contingent consideration of R$ 2,650 subjects to certain post-closing price adjustments (achievement of financial targets such as maintenance of contracts, net revenue and average global cost, in addition to non-financial targets such as platform engagement, satisfaction of the customer in the service provided and adequate level of information security, for the years 2022 2023 During 2022 the Company concluded the acquisition accounting and adjusted during the measurement period, intangible assets and goodwill in the amount of R$ 1,098. EMME – Produções de Materiais em Multimídia (“EMME”) On August 1, 2021 the Company acquired through its subsidiary, Somos Sistemas de Ensino S.A. (“ Somos Sistemas ”) the entity EMME, which provides educational marketing solutions for schools, through license of its “software as a service”. The consideration transferred was R$ 15,317 of which R$ 3,063 was paid in cash and the remaining amount of R$ 12,253 will be paid in installments with final due date on August 16, 2026 (each installment adjusted by the positive variation of inflation- “IPCA” – Extended National Consumer Price Index). During 2022 the Company concluded the acquisition accounting and adjusted, during the measurement period, intangible assets and goodwill, in the amount of R$ 1,055. Editora De Gouges S.A. (“De Gouges”) On October 29, 2021 the Company acquired through its subsidiary, Somos Sistemas de Ensino S.A. (“ Somos Sistemas ”) the entity De Gouges, which provides learning system (K- 12 The acquisition agreement for De Gouges provided an obligation on the subsidiary, Somos Sistemas de Ensino S.A. under the Commercial Agreement. (“ Somos Sistemas ”), to grant an amount of R$62,234 in discounts on the sale price of teaching materials to Eleva Holding’s partner schools (the selling shareholder), within a period of up to 5 years limited to the amount of R$16,600 years. For this operation, the Company recorded a liability generated in the business combination (Provision for trade discount) and which should be realized according to its use in the coming years. Net identifiable assets acquired, and liabilities assumed involved in the Business Combinations and Consideration transferred The acquisitions were accounted for using the acquisition method of accounting, i.e., the consideration transferred, and the net identifiable assets acquired, and liabilities assumed were measured at fair value, while goodwill is measured as the excess of consideration paid over those items. The following table presents the net identifiable assets acquired and liabilities assumed for each business combination in 2021 SEL Redação Nota 1000 EMME De Gouges Total Current assets Cash and cash equivalents 1,461 525 637 16,439 19,062 Trade receivables (vi) - 1,327 1,082 18,190 20,599 Inventories (iv) - - - 4,534 4,534 Prepayments - - 14 83 97 Taxes recoverable - - 9 1,947 1,956 Other receivables 180 - - 12 192 Total current assets 1,641 1,852 1,742 41,205 46,440 Non-current assets Property, plant and equipment 611 - 128 1,272 2,011 Other intangible assets - 1,099 1 38 1,138 Intangible assets - Customer Portfolio (ii) 18,783 - - 64,806 83,589 Intangible assets - Trade agreement (iii) - - - 247,622 247,622 Intangible assets - Software (v) 1,296 5,692 4,048 - 11,036 Total non-current assets 20,690 6,791 4,177 313,738 345,396 Total Assets 22,331 8,643 5,919 354,943 391,836 Current liabilities Suppliers - 180 13 1,107 1,300 Salaries and social contributions 1 124 600 2,871 3,596 Taxes payable 17 207 102 - 326 Income tax and social contribution payable 33 - - 5,232 5,265 Provision for trade discount - - - 15,000 15,000 Other liabilities - 1,673 2 25 1,700 Total current liabilities 51 2,184 717 24,235 27,187 Non-current liabilities Provision for tax, civil and labor losses - - - 1,231 1,231 Provision for trade discount - - - 47,234 47,234 Total non-current liabilities - - - 48,465 48,465 Total liabilities 51 2,184 717 72,700 75,652 Net identifiable assets at fair value (A) 22,280 6,459 5,202 282,243 316,184 Total Consideration transferred (B) 65,000 11,387 15,317 611,554 703,258 Goodwill (B – A) (i) 42,720 4,928 10,115 329,311 387,074 ( i ) Goodwill is recognized based on expected synergies from combining the operations of the acquirees and of the acquiror, as well as an expected increase in the Company’s market-share due to the penetration of the Company’s products and services in regions where the Company did not operate before. Also, the current tax law allows the deductibility of the acquisition date goodwill and fair value of net assets acquired when a non-substantive action is taken after acquisition by the Company ( i.e. when the Company merges or spins off the companies acquired) and therefore the tax and accounting bases of the net assets acquired are the same as of the acquisition date. (ii) As a result of purchase price allocation, the Company identified R$ 18,783 64,806 8 14 . (iii) As a result of the purchase price allocation, the Company identified R$ 247,622, a commercial agreement (“Eleva Holding”), which corresponds to the sale of teaching material from "De Gouges" to partner schools of "Eleva Holding" within 10 years, with an estimated sales rate of 10 % per year. (iv) As a result of the purchase price allocation, the Company identified R$ 4,534 33 (v) As a result of purchase price allocation, the Company identified R$ 11,036 Education System “Redação Nota 1000 14 (vi) Accounts receivable from customers comprise gross contractual amounts due of R$ 24,344 3,746 10

Financial Risk Management

Financial Risk Management	12 Months Ended
	Dec. 31, 2022
Financial Risk Management
Financial Risk Management	6 Financial Risk Management The Company has a risk management policy for regular monitoring and managing the nature and overall position of financial risks and to assess its financial results and impacts on its cash flows. Counterparty credit limits are also reviewed periodically or whenever the Company identifies significant changes in financial risk. The economic and financial risks reflect the behavior of macroeconomic variables such as interest rates as well as other characteristics of the financial instruments maintained by the Company. These risks are managed through control and monitoring policies, specific strategies, and limits. Financial risk factors The Company’s activities expose it to certain financial risks mainly related to market risk, credit risk and liquidity risk. Management and the Group’s Board of Directors monitor such risks in line with their capital management policy objectives. This Note presents information on the Company’s exposure to each of the risks above, the objectives of the Company, measurement policies, and the Company’s risk and capital management process. The Company has no derivative transactions. Market risk – cash flow interest rate risk This risk arises from the possibility that the Company incurs losses because of interest rate fluctuations that increase finance costs related to financing and bonds raised in the market and obligations for acquisitions from third parties payable in installments. The Company continuously monitors market interest rates in order to assess the need to contract financial instruments to hedge against volatility of these rates. Additionally, financial assets also indexed to CDI and IPCA (broad consumer price index) partially mitigate any interest rate exposures. Interest rates contracted are as follows: December 31, 2022 December 31, 2021 Interest rate Bonds Private Bonds – 6 th – series 2 53,688 104,844 CDI + 1.00% p.a. Private Bonds – 6 th – series 2 - 210,920 CDI + 1.70% p.a. Private Bonds – 9 th – series 2 259,843 - CDI + 2.40% p.a. Bonds – 1 st 529,465 514,574 CDI + 2.30% p.a. Financing and Lease Liabilities - Mind Makers - 888 TJPLP + 5% p.a. Financing and Lease Liabilities 140,563 160,542 IPCA Accounts Payable for Business Combination and acquisition of associates 625,277 532,313 100% CDI 1,608,836 1,524,081 b. Credit risk Credit risk arises from the potential default of a counterparty on an agreement or financial instrument, resulting in financial loss. The Company is exposed to credit risk in its operating activities (mainly in connection with trade receivables , see N ote 10 and financial activities that include reverse factoring deposits with banks and other financial institutions and other financial i nstruments contracted. The Company mitigates its exposure to credit risks associated with financial instruments, deposits in banks and short-term investments by investing in prime financial institutions and in accordance with limits previously set in the Company’s policy. See Notes 8 and 9 . To mitigate risks associated with trade receivables, the Company adopts a sales policy and an analysis of the financial and equity condition of its counterparties. The sales policy is directly associated with the level of credit risk the Company is willing to accept in the normal course of its business. The diversification of its receivable’s portfolio, the selectivity of its customers, as well as the monitoring of sales financing terms and individual position limits are procedures adopted to minimize defaults or losses in the realization of trade receivables. Thus, the Company does not have significant credit risk exposure to any single counterparty or any group of counterparties having similar characteristics. Furthermore, the Company reviews the recoverable amount of its trade receivables at the end of each reporting period to ensure that adequate credit losses are recorded (Note 10 c. Liquidity risk In order to cover possible liquidity deficiencies or mismatches between cash and cash equivalents and short-term debt and financial obligations, the Company continues to operate with reverse factoring as long as this credit line is offered by banks and accepted by Company suppliers. This is the risk of the Company not having enough funds and or bank credit limits to meet its short-term financial commitments, due to mismatching terms in expected receipts and payments. The Company continuously monitors its cash balance and indebtedness level and implemented measures to allow access to the capital markets, when necessary. It also endeavors to assure they remain within existing credit limits. Management also continuously monitors projected and actual cash flows and the combination of the maturity profiles of the financial assets, liabilities and takes into consideration its debt financing plans, covenant compliance, internal liquidity targets and, if applicable, regulatory requirements. Cash surplus generated by the Company is handled in short-term deposits being those investments composed by enough liquidity thus providing to the Company the appropriate commitment with the going concern presumption. On September 28, 2022 the Company’s subsidiary Somos Sistemas de Ensino S.A issued R$ 250,000 in private bonds , not convertible. The bonds are aimed to reinforce the Company’s capital structure , and lengthen the debt maturity profile, whose average term currently is 37 months from the issuance . On August 6, 2021 the Company’s subsidiary Somos Sistemas de Ensino S.A issued R$ 500,000 in simple debentures, not convertible. The debentures are aimed to reinforce the Company’s capital structure as well as extending the debt maturity profile, see Note 1 5 . The table below presents the maturity of the Company’s financial liabilities. Financial liabilities by maturity ranges December 31, 2022 Less than one Between one two Over two Total Bonds and financing (Note 15 93,779 499,217 250,000 842,996 Lease Liabilities (Note 17 23,151 22,921 94,491 140,563 Accounts Payable for business combination and acquisition of associates (Note 19 73,007 389,186 163,084 625,277 Suppliers (Note 16 250,647 - - 250,647 Reverse Factoring (Note 16 155,469 - - 155,469 Other liabilities - related parties (Note 21 54 - - 54 596,107 911,324 507,575 2,015,006 Financial liabilities by maturity ranges The table below reflects the estimated interest rate based on CDI for 12 12.43 % p.a ) extracted from BACEN (Brazilian Central Bank) on December 31,202 2 . Amounts payable refer to principal and interest based on undiscounted contractual amounts and, therefore, do not reflect the financial position presented as of December 31, 202 2 : December 31, 2022 Less than one Between one two Over two Total Bonds and financing 105,436 561,270 281,075 947,781 Lease Liabilities 26,029 25,770 106,236 158,035 Accounts Payable for business combination and acquisition of associates 82,082 437,562 183,355 702,999 Suppliers 281,802 - - 281,802 Reverse Factoring 174,794 - - 174,794 Other liabilities - related parties 61 - - 61 670,204 1,024,602 570,666 2,265,472 Capital management The Company’s objectives when managing capital are to safeguard its ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. In order to maintain or adjust the capital structure of the Company, management can make, or may propose to the shareholders when their approval is required, adjustments to the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce, for example, debt. The Company monitors capital based on the gearing ratio. This ratio corresponds to the net debt expressed as a percentage of total capitalization. Net debt comprises financial liabilities less cash and cash equivalents. Total capitalization is calculated as shareholders’ equity as shown in the consolidated balance sheet plus net debt. The Company’s main capital management objectives are to safeguard its ability to continue as a going concern, optimize returns, allow consistency of operations to other stakeholders, and maintain an optimal capital structure reducing financial costs and maximizing the returns. In addition, the Company monitors financial leverage adequacy, and mitigates risks that may affect the availability of capital for Company development. December 31, 2022 December 31, 2021 Net debt (i) 1,969,241 1,518,247 Total shareholders' equity 4,629,679 4,665,209 Total capitalization (ii) 2,660,438 3,146,963 Gearing ratio - % - (iii) 74 % 48 % (i) Net debt comprises financial liabilities (note 7 (ii) Refers to the difference between Shareholders’ Equity and Net debt. (iii) The Gearing Ratio is calculated based on Net Debt/Total Capitalization. Sensitivity analysis The following table presents the sensitivity analysis of potential losses from financial instruments, according to Management’s assessment of relevant market risks presented above. A probable scenario (Base scenario) over a 12 12.43 % p.a. as per DI Interest Deposit rate (“CDI”) reference rates disclosed by B 3 Two Index - % per year Balance as of December 31, 2022 Base scenario Scenario I Scenario II Financial Investments 103.40% of CDI 39,212 4,874 6,093 7,311 Marketable Securities 103.39% CDI 380,514 47,298 59,122 70,947 419,726 52,172 65,215 78,258 Accounts Payable for Business Combination and acquisition of associates 100% of CDI (625,277 ) (77,722 ) (97,152 ) (116,583 ) Lease liabilities CDI + 1.28% (140,563 ) (17,472 ) (21,840 ) (26,208 ) Bonds and financing CDI + 1.66% (842,996 ) (104,784 ) (130,981 ) (157,177 ) (1,608,836 ) (199,978 ) (249,973 ) (299,968 ) Net exposure (1,189,110 ) (147,806 ) (184,758 ) (221,710 ) Interest rate -% p.a - - 12.43 % 15.54 % 18.65 % Stressing scenarios - - - 25 % 50 %

Financial Instruments by Catego

Financial Instruments by Category	12 Months Ended
	Dec. 31, 2022
Financial Instruments by Category
Financial Instruments by Category	7 Financial Instruments by Category The Company holds the following financial instruments: Hierarchy December 31, 2022 December 31, 2021 Assets - Amortized cost Cash and cash equivalents 45,765 309,893 Marketable securities - 166,349 Trade receivables 649,135 505,514 Other receivables 972 2,105 Related parties – other receivables 1,759 501 697,631 984,362 Assets - Fair value through profit or loss Marketable securities 1 380,514 - Other investments and interests in entities 8,272 - 388,786 - Liabilities - Amortized cost Bonds and financing 842,996 831,226 Lease liabilities 140,563 160,542 Reverse factoring 155,469 97,619 Suppliers 250,647 167,168 Accounts payable for business combination and acquisition of associates 569,360 497,187 Accounts payable for business combination and acquisition of associates (i) 3 55,917 35,126 Other liabilities - related parties 54 39,271 2,015,006 1,828,139 i) Refers to a portion of the liability remeasured based on economic activity of the acquired entity (post-closing price adjustments). Valuation techniques and significant unobservable inputs The following table shows the valuation techniques used in measuring level 3 Entities Valuation technique Significant unobservable inputs Inter-relationship between key unobservable inputs and fair value measurement Phidelis Discounted cash flows: The valuation model considers the present value of the net cash flows expected to be generated by the operation (net revenue). 1. The achievement of financial targets are linked to net revenue of the years 2023 and 2024. 2.Revenue: we consider for the revenue projection the continuity of old contracts and new contracts with average annual revenue growth of 21.1%. The estimated fair value would increase (decrease) if: - Any product is no longer monetized (lower) - The risk-adjusted discount rates were lower (higher) SEL Discounted cash flows: The valuation model considers the present value of the net cash flows expected to be generated by the operation (net revenue). 1. Renewal, in writing, to the year 2023 and 2024, of the Structured Teaching Program Contract; or 2. Entering a new contract, in writing, with SESI effective for the year 2024, with or without the need for bidding, so that the Buyer continues to provide in the year of 2024 services to SESI, according to the specific scope to be defined by SESI (“Renovation Structured Teaching Program 2024”). The estimated fair value would increase (decrease) if: - No contract renewal (lower) Redação Nota 1000 Discounted cash flows: The valuation model considers the present value of the net cash flows expected to be generated by the operation (net revenue). 1. Net Revenue Target 2023: R$3,952 2. (i) 2023 Net Revenue equal to or greater than R$3,952 so = 100%, (ii) 2023 Net Revenue equal to or greater than R$2,799 and less than R$3,952 so 70%, (iii) 2023 Net Revenue equal to or greater than R$ 2,659 and less than R$2,799 so 60%, (iv) 2023 Net Revenue equal to or greater than R$2,379 and less than R$2,659 so, 40%, and (v) Net Revenue less than R$2,379 so 0%. Not applicable. Educbank Discounted cash flows: The valuation model considers the present value of the net cash flows expected to be generated by the operation (students enrolled). 1. Reaching 25,000 new students effectively hired, as determined after issuing bank slips, in relation to the Company's services 2. Reaching 37,000 new students effectively hired, as determined after issuing bank slips, in relation to the Company's services. The estimated fair value would increase (decrease) if: - Not applicable. The Company has not disclosed the fair values of your financial instruments, because their carrying amounts approximates fair value.

Cash and cash equivalents

Cash and cash equivalents	12 Months Ended
	Dec. 31, 2022
Cash and cash equivalents.
Cash and cash equivalents	8 Cash and cash equivalents Composition The balance of this account comprises the following amounts: December 31, 2022 December 31, 2021 Cash 7 100 Bank account 6,546 17,772 Financial investments (i) 39,212 292,021 45,765 309,893 ( i ) The Company invests in short-term fixed income investment funds with daily liquidity and no material risk of change in value. Financial investments presented an average gross yield of 103 % of the annual CDI rate on December 31, 2022 (105.2 % on December 31, 202 1 ). All investments are highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value and correspond to the cash obligations for the period.

Marketable securities

Marketable securities	12 Months Ended
	Dec. 31, 2022
Marketable securities
Marketable securities	9 Marketable securities a Credit Risk December 31, 2022 December 31, 2021 Financial bills (LF) AAA - 1,640 Financial treasury bills (LFT) AAA - 164,709 Private investment fund AAA 31,842 - Private investment fund AA 348,672 - 380,514 166,349 The average gross yield of securities is based on 104 % CDI on December 31, 202 2 (101 % CDI on December 31, 202 1 ).

Trade receivables

Trade receivables	12 Months Ended
	Dec. 31, 2022
Trade receivables
Trade receivables	10 Trade receivables The balance of this account comprises the following amounts: a. Composition December 31, 2022 December 31, 2021 Trade receivables 711,439 505,190 Related Parties (Note 21 7,177 46,824 ( - ) Impairment losses on trade receivables (69,481 ) (46,500 ) 649,135 505,514 b. Maturities of trade receivables December 31, 2022 December 31, 2021 Not yet due 563,005 417,233 Past due Up to 30 19,435 9,657 From 31 60 22,637 10,331 From 61 90 12,193 7,366 From 91 180 42,169 21,154 From 181 360 31,357 23,852 Over 360 20,643 15,597 Total past due 148,434 87,957 Related parties (note 21 7,177 46,824 Impairment losses on trade receivables (69,481 ) (46,500 ) 649,135 505,514 The gross carrying amount of trade receivables is written off when the Company has no reasonable expectations of recovering the financial asset in its entirety or a portion thereof. Collection efforts continue to be made, even for the receivables that have been written off, and amounts recoverable are recognized directly in Consolidated Statement of Profit or Loss and Other Comprehensive Income upon collection. c. Impairment losses on trade receivables The Company measures impairment losses on trade receivables at an amount equal to lifetime expected credit losses (“ECL”) estimated using a monthly provision matrix. This matrix is prepared by analyzing the receivables established each month (in the 12 The Company also recognizes impairment losses on trade receivables at 100% for customers that filed for judicial recovery or bankruptcy, based on historical experience, which indicates that these receivables are generally not recoverable. The credit risk and expected credit losses associated with amounts due from related parties is not significant. The following table details the risk profile of trade receivables based on the Company’s provision matrix as of December 31, 202 2 and as of December 31, 202 1 . d. Expected credit losses aging December 31, 2022 December 31, 2021 Expected credit loss rate (%) Lifetime ECL (R$) Expected credit loss rate (%) Lifetime ECL (R$) Not yet due 1.52% 8,970 0.30% 1,263 Past due Up to 30 9.53% 2,072 12.67% 1,219 From 31 60 14.09% 2,728 17.01% 1,769 From 61 90 19.87% 2,335 23.75% 1,764 From 91 180 29.66% 10,096 35.71% 7,608 From 181 360 48.35% 12,465 72.90% 17,399 Over 360 76.40% 15,434 99.23% 15,478 Total past due 54,100 46,500 Customers in judicial recovery (i) 100% 15,381 100% - (-) Impairment losses on trade receivables 69,481 46,500 (i) On December 31, 2022 the Company’s Management recorded R$15 million in provision for expected credit loss relating to the entirely of Vasta’s receivable for products in inventory of a large retail company in judicial recovery. The Company did not identify customers in judicial recovery as of December 31, 2021. The following table shows the c 2021 2020 e. Changes on provision December 31, 2022 December 31, 2021 December 31, 2020 Opening balance 46,500 32,055 22,524 Additions 45,904 39,326 29,870 Reversals (288 ) (2,854 ) (4,855 ) Write offs (i) (22,635 ) (22,027 ) (15,484 ) Closing balance 69,481 46,500 32,055 (i) The Company assessed its customers credit lines, on a regular basis. Due to historical losses and lack of prospects of credit recovery alongside these customers, the Company recognized R$ 22,635 as write-off as of December 31, 2022 (R$ 22,027 as of December 31, 2021).

Inventories

Inventories	12 Months Ended
	Dec. 31, 2022
Inventories
Inventories	11 Inventories The balance of this account comprises the following amounts: Composition December 31, 2022 December 31, 2021 Finished products (i) 160,519 160,318 Work in process 73,993 51,152 Raw materials 30,773 27,081 Imports in progress 347 1,681 Right to returned goods (ii) 818 2,131 266,450 242,363 (i) These amounts are net of slow-moving items and net realizable value. (ii) Represents the Company’s right to recover products from customers when customers exercise their right of return under the Company’s returns policies, where the Company estimates the volume of goods returned based on experience and foreseen expectations. Changes in provision for losses with slow-moving inventories, net realizable value and provision for right to returned goods are broken down as follows: b. Changes in provision December 31, 2022 December 31, 2021 December 31, 2020 Opening balance 58,723 62,210 69,080 Additions 46,138 24,178 8,783 (Reversals) (5,214 ) (2,061 ) (4,726 ) Inventory losses (i) (15,598 ) (25,604 ) (10,927 ) Closing balance 84,049 58,723 62,210 (i) Refers substantially to physical books destroyed, previously provisioned, due to indication of damage or obsolescence caused by changes in the educational content during the school year.

Equity accounted investees

Equity accounted investees	12 Months Ended
	Dec. 31, 2022
Equity accounted investees
Equity accounted investees	1 2 Equity accounted investees a) Composition of investments Investment type Interest % Investment Fair value Goodwill December 31, 2022 Educbank Associate 45% 41,485 7,868 33,786 83,139 41,485 7,868 33,786 83,139 b) Investments without control and significant influence EducBank As of December 31, 2021 - Acquisition 87,651 Equity method (4,512 ) As of December 31,2022 83,139

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment
Schedule of property, plant and equipment	13 Property, plant and equipment The cost, weighted average depreciation rates and accumulated depreciation are as follows: December 31, 2022 December 31, 2021 Weighted average depreciation rate Cost Accumulated depreciation Net book value Cost Accumulated depreciation Net book value IT equipment 10% - 33% 80,262 (43,294 ) 36,968 44,181 (27,565 ) 16,615 Furniture, equipment and fittings 10% - 33% 60,920 (36,818 ) 24,102 38,116 (29,726 ) 8,390 Property, buildings and improvements 5%-20% 53,027 (40,381 ) 12,646 54,508 (36,636 ) 17,872 In progress - 4,494 - 4,494 677 - 677 Right of use assets 6%-33% 257,034 (137,948 ) 119,086 251,694 (109,957 ) 141,737 Land - 391 - 391 391 - 391 Total 456,128 (258,441 ) 197,688 389,567 (203,885 ) 185,682 Changes in property, plant and equipment are as follows: IT equipment Furniture, equipment and fittings Property, buildings and improvements In progress Right of use assets (i) Land Total As of December 31, 2021 16,615 8,390 17,872 677 141,737 391 185,682 Additions 35,086 21,571 657 3,829 12,002 - 73,145 Additions through business combinations 54 12 - 6 - - 72 Disposals / Cancelled contracts - (6 ) - (18 ) (3,796 ) - (3,820 ) Depreciation (15,727 ) (5,379 ) (5,428 ) - (30,857 ) - (57,391 ) Transfers 941 (486 ) (455 ) - - - - As of December 31, 2022 36,968 24,102 12,646 4,494 119,086 391 197,688 (i) Refers to recognition of new lease agreements of R$ 12,002 which the Company considers as part of its digital learning solutions through computer tablets that have been part of current learning system solutions. See the corresponding lease liabilities in Note 17 IT equipment Furniture, equipment and fittings Property, buildings and improvements In progress Right of use assets Land Total As of December 31, 2020 1,479 9,908 19,978 315 159,873 453 192,006 Additions (i) 16,105 1,028 597 2,732 25,513 - 45,975 Additions through business combinations 1,041 835 135 - - - 2,011 Renegotiation (ii) - - - - (12,439 ) - (12,439 ) Disposals / Cancelled contracts - (124 ) - - (3,286 ) - (3,410 ) Depreciation (2,010 ) (3,319 ) (5,208 ) - (27,924 ) - (38,461 ) Transfers - 62 2,370 (2,370 ) - (62 ) - As of December 31, 2021 16,615 8,390 17,872 677 141,737 391 185,682 (i) Refers substantially to recognition of new lease agreements of R$ 25,513 which the Company considers as part of its digital learning solutions through computer tablets that have been part of current learning system solutions. See the corresponding lease liabilities in Note 17 (ii) The Company returned part of the São José dos Campos warehouse to the lessor in September 2021, maintaining the lease agreement and term, changing only in the subsequent lease installments leading to the reversal adjustments of the right-of-use asset and corresponding lease liabilities. The Company assesses at each reporting date, whether there is an indication that a property, plant and equipment asset may be impaired. If any indication exists, the Company estimates the asset’s recoverable amount. There were no indications of impairment of property, plant and equipment as of December 31, 2022 and 2021 .

Intangible Assets and Goodwill

Intangible Assets and Goodwill	12 Months Ended
	Dec. 31, 2022
Intangible Assets and Goodwill
Intangible Assets and Goodwill	14 Intangible Assets and Goodwill The cost, weighted average amortization rates and accumulated amortization of intangible assets and goodwill comprise the following amounts: December 31, 2022 December 31, 2021 Weighted average amortization rate Cost Accumulated amortization Net book value Cost Accumulated amortization Net book value Software 20% 263,433 (182,711 ) 80,722 247,326 (151,281 ) 96,045 Customer Portfolio 8% 1,201,074 (377,891 ) 823,183 1,197,381 (275,276 ) 922,105 Trademarks 5% 631,582 (112,967 ) 518,615 632,016 (85,658 ) 546,358 Trade Agreement 8% 247,622 (28,795 ) 218,827 247,622 (4,127 ) 243,495 Platform content production 33% 123,251 (74,881 ) 48,370 73,877 (49,583 ) 24,294 Other Intangible assets 33% 39,422 (32,142 ) 7,280 39,421 (32,140 ) 7,281 In progress 18,958 - 18,958 3,991 - 3,991 Goodwill 3,711,721 - 3,711,721 3,694,798 - 3,694,798 6,237,063 (809,387 ) 5,427,676 6,136,432 (598,065 ) 5,538,367 Changes in intangible assets and goodwill were as follows: Software Customer Portfolio Trademarks Trade Agreement Platform content production Other Intangible assets In progress Goodwill Total As of December 31, 2021 (i) 96,045 922,105 546,358 243,495 24,294 7,281 3,991 3,694,798 5,538,367 Additions 12,881 - - - 62,722 17 14,967 - 90,587 Additions through business combinations 3,225 3,833 - - - - - 16,923 23,981 Disposals - (140 ) ( 434 ) - ( 13,348 ) (15 ) - - ( 13,937 ) Amortization (31,430 ) (102,615 ) (27,309 ) (24,668 ) (25,298 ) ( 3 ) - - (211,323 ) As of December 31, 2022 80,722 823,183 518,615 218,827 48,370 7,280 18,958 3,711,721 5,427,676 (i) Considers the review of goodwill and intangibles assets of the acquisition of EMME and Redação Nota Mil, acquired during the year 2021. Software Customer Portfolio Trademarks Trade Agreement Platform content production (i) Other intangible assets In progress Goodwill (ii) Total As of December 31, 2020 83,414 928,858 573,586 - 23,821 6,243 999 3,307,805 4,924,726 Additions 25,560 - - - 20,808 39 9,509 - 55,916 Additions through business combinations 11,036 83,589 - 247,622 - 1,099 - 387,074 730,419 Amortization (30,482 ) (90,342 ) (27,309 ) (4,127 ) (20,335 ) (100 ) - - (172,695 ) Transfers 6,517 - - - - - (6,517 ) - - As of December 31, 2021 96,045 922,105 546,277 243,495 24,294 7,281 3,991 3,694,879 5,538,367 (i) Substantially refers to development of the projects related to Plurall Platform. The Company has invested in changes in its digital platform that include “Plurall Digital Transformation” in the amount of R$ 20,808 million, and project related to learning systems, in the amount of R$ 9,509 million. (ii) The Company recognized R$ 387,074 Nota 1000 5 (i) Goodwill impairment test The Company performed its annual impairment test in 2022 2021 2021 The Company is comprised of two one 28 December 31, 2022 December 31, 2021 Content and Edtech Platform 3,674,034 3,674,036 Digital Platform 37,687 20,843 3,711,721 3,694,879 The recoverable amount of a CGU has been determined based on value-in-use calculations. These calculations use pre-income tax and social contribution cash flow projections based on financial budget approved by management covering a period of eight For each of the CGUs, the key assumptions, long-term growth rate and discount rate used in the value-in-use calculations are stated in the table below. In addition, the recoverable amount is also disclosed in the table. The key assumptions used for value-in-use calculations as of December 31, 2022 and 2021 2022 2021 Content and EdTech Platform Digital Platform Content and EdTech Platform Digital Platform Growth rate - % 13.70 % 12.5 % 14.40 % 9.7 % Discount rate - % 12.10 % 12.10 % 10.81 % 10.81 % Growth rate (%) in perpetuity 4.7 % 4.7 % 5.8 % 5.8 % Years projected 8 8 8 8 Growth rate is based on assumptions defined by the Company’s management, underpinned by business performance compared with other competitors and based on internal measures (new initiatives and services provided) taken into consideration. The discount rate is determined by individual WACC (weighted average working capital), net of income taxes. The assumptions of the long-term model used in the impairment test calculation were assessed and approved by the Business’ Management, as well as the rates used. (ii) Impairment of other intangible assets and in progress There were no indications of impairment of intangible assets for the years ended December 31, 2022 and 2021

Bonds and financing

Bonds and financing	12 Months Ended
	Dec. 31, 2022
Bonds and financing
Bonds and financing	15 Bonds and financing The balance of bonds and financing comprises the following amounts: December 31, 2021 Additions (i) Payment of interest (ii) Payment of principal (ii) Interest accrued Transaction cost of bonds Transfers December 31, 2022 Bonds with Related Parties 264,673 - (33,921 ) (254,885 ) 36,573 - 50,885 63,325 Bonds 16,581 - (58,425 ) - 72,298 1,018 (1,018 ) 30,454 Financing 237 - (154 ) (759 ) 25 - 651 - Current liabilities 281,491 - (92,500 ) (255,644 ) 108,896 1,018 50,518 93,779 Bonds with Related Parties 51,091 250,000 - - - - (50,885 ) 250,206 Bonds 497,993 - - - - - 1,018 499,011 Financing 651 - - - - - (651 ) - Non-current liabilities 549,735 250,000 - - - - (50,518 ) 749,217 Total 831,226 250,000 (92,500 ) (255,644 ) 108,896 1,018 - 842,996 (i) On September 28, 2022, the Company issued simple debentures not convertible into shares, subject to remunerative interest of 100% of the CDI , plus a spread of 2.40 % per year, in the total amount of R$ 250,000 . The debentures aim to strengthen the Company's capital structure and lengthen the maturity profile of the debt, whose average term has become 37 months . (ii) We present below the composition of interest and principal payments considering the issues made: Emission Payments Interest Principal SSED 21 6 2 02/15/2022 and 08/11/2022 (10,792 ) (50,885 ) SEDU 21 7 2 02/15/2022 and 08/11/2022 (23,129 ) (204,000 ) GAGL 11 02/07/2022 and 08/05/2022 (58,425 ) - Financing 06/22/2022 (154 ) (759 ) Total (92,500 ) (255,644 ) December 31, 2020 Additions (ii) Payment of interest (i) Payment of principal (i) Interest accrued Transaction cost of bonds Transfers December 31, 2021 Bonds with related parties 502,743 - (24,873 ) (477,564 ) 25,859 - 238,509 264,673 Bonds - - - - 17,574 (993 ) - 16,581 Financing 139 - (49 ) (177 ) 116 - 208 237 Current liabilities 502,882 - (24,922 ) (477,741 ) 43,549 (993 ) 238,717 281,491 Bonds with related parties(i) 289,600 - - - - - (238,509 ) 51,091 Bonds - 500,000 - - - (2,007 ) - 497,993 Financing 859 - - - - - (208 ) 651 Non-current liabilities 290,459 500,000 - - - (2,007 ) (238,717 ) 549,735 Total 793,341 500,000 (24,922 ) (477,741 ) 43,549 (3,000 ) - 831,226 (i) On March 15, 2021, the Company, substantially settled bonds with related parties amounting to R$ 100,000 and R$ 1,488 , in principal and interest, respectively as follows: 5 th Issuance, 1 st series – R$ 101,488 . In addition, the Company settled only interest on the following bonds: 5 th Issuance, 2 nd series – R$ 1,451 , 6 th Issuance, 2 nd series – R$ 3,613 and 7 th Issuance, single series – R$ 5,663 . This measure is part of a commitment with shareholders as a result of the IPO. On May 31, 2021, the Company partially settled bonds with related parties amounting to R$ 188,000 , of principal of the 7 th issuance single series. On August 6, 2021, the Company settled the remaining 7 th 189,564 and R$ 5,871 , as principal and interest. In addition, the Company settled only interest on the following bonds: 5 th Issuance, 2 nd series – R$ 2,029 and 6 th Issuance, 2 nd series – R$ 4,758 . Regarding the financing with Banco de de Minas SA - BDMG, the Company pays monthly the amount of R$ 15 and R$ 4 , respectively, of principal and interest, totaling on December 31, 2021 an amount of R$ 177 and R$ 49 , respectively, of principal and interest (ii) On August 6, 2021, the subsidiary de S.A. issued R$ 500 million in simple debentures not convertible into shares, subject to compensatory interest of 100% of DI Interest Deposit rate (CDI) , plus spread of 2.30 % per year. The debentures are aimed at reinforcing the Company’s capital structure and elongating the debt maturity profile, which average maturity now stands at 35 months . Bonds’ description See below the bonds outstanding on December 31, 2022: Subscriber Related Parties Related Parties Third parties Issuance 5 9 1 Series 2 nd 2 nd Single Series Date of issuance 08/15/2018 09/28/2022 08/06/2021 Maturity Date 08/15/2023 09/28/2025 08/05/2024 First payment after 60 months 36 months 35 months Remuneration payment Semi-annual interest Semi-annual interest Semi-annual interest Financials charges CDI + 1.00% p.a. CDI + 2.40% p.a. CDI + 2.30% p.a. Principal amount (in millions of R$) 100 250 500 b. Bond’s maturities The maturities range of these accounts, considering related and third parties are as follow: Maturity of installments December 31, 2022 % December 31, 2021 % 2023 93,779 11.1 281,491 33.9 2024 499,217 59.2 51,063 6.1 2025 250,000 29.7 498,672 60.0 Total non-current liabilities 749,217 88.9 549,735 66.1 842,996 100.0 831,226 100.0 c. Debit commitments The maintenance of the contractual maturity of debentures at their original maturities is subject to covenants, which are being regularly complied with. The covenant compliance indicators are the following: Bonds with related parties On November 19, 2019, all rights and obligations related to bonds issued by Saber with third parties were transferred to Cogna, under the condition that R$ 1,535,800 of the amounts should be transferred to the Company upon the Corporate Restructuring. Through this process, the Company is subject to the following clauses: (i) the acceleration of the other debentures originally issued by Saber; (ii) the grant by the Company of any liens on Company assets or its capital stock; (iii) a change in control by Cogna of Saber’s subsidiaries, subject to certain exceptions. Additionally, the Company has agreed until the maturity of the private debentures that: (i) it will allocate at least 50% of the use of proceeds from any liquidity event to repay such debentures; (ii) it will not obtain any new loans unless the proceeds of such loans are directed to repayment of its debentures with Cogna; and (iii) the Company will not pledge shares and/or dividends. The Company complied with all debt commitments in the period applicable on December 31, 2022 and 2021 Bonds with third parties The bond issued by Somos Sistemas requires the maintenance of certain financial indicators “covenants” which are annually calculated based on Somos Sistemas Consolidated financial statements. The period of covenants compliance comprises 12 4.25%in 2021 4.00% in 2022 3.75% in 2023 3.50% in 2024 This ratio cannot be breached for two consecutive periods or three alternate periods. Consolidated net debt five Adjusted consolidated EBITDA On December 31, 2022, the financial ratio net debt by adjusted EBITDA reached the result of 2.74%, within the conditions established in the aforementioned financial contractual clauses. On December 31, 2021, the financial ratio net debt by adjusted EBITDA reached the result of 4.47%, exceeding the ratio, but yet within the clauses established.

Suppliers

Suppliers	12 Months Ended
	Dec. 31, 2022
Suppliers
Suppliers	16 Suppliers The balance of this account comprises the following amounts: Composition December 31, 2022 December 31, 2021 Local suppliers 215,593 132,124 Related parties (note 21 13,781 19,534 Copyright 21,273 15,510 250,647 167,168 Reverse Factoring (i) 155,469 97,619 (i) As of December 31, 2022, the balance of reverse factoring was R$ 155,469 (R$ 97,619 as of December 31, 2021), and the discount rates of assignment operations carried out by our suppliers with financial institutions had a weighted average of 1.27% per month (as of December 31, 2021, the weighted average was 1.05% per month) and a maximum payment term of 360 days. The balance is initially recognized net of the present value adjustment, which is subsequently recognized as a financial expense.

Lease liabilities

Lease liabilities	12 Months Ended
	Dec. 31, 2022
Lease liabilities.
Lease liabilities	17 Lease liabilities The lease agreements have an average term of 7 years and weighted average rate of 14.32% p.a. December 31, 2022 December 31, 2021 Opening balance 160,542 173,103 Additions for new lease agreements (i) 12,002 25,513 Renegotiation - (12,439 ) Cancelled contracts (3,180 ) (3,481 ) Renegotiation - COVID- 19 - (448 ) Interest 13,143 14,984 Payment of interest (14,941 ) (14,692 ) Payment of principal (27,003 ) (21,998 ) Closing balance 140,563 160,542 Current liabilities 23,151 26,636 Non-current liabilities 117,412 133,906 140,563 160,542 (i) Refers to new lease agreements which the Company has embedded part of its digital learning solutions. These lease agreements (digital learning) refer to lease terms of 36 months, with rates negotiated in the range of 10.3% p.a to 10.9% p.a. Short-term leases (lease period of 12 months or less) and leases of low-value assets (such as personal computers and office furniture) are recognized on a straight-line basis in rent expenses for the period and are not included in lease liabilities. Fixed and variable lease payments, including those related to short-term contracts and to low-value assets, were the following for the years ended December 31, 2022 and 2021 For the years ended December 31 2022 2021 Fixed Payments 41,944 36,689 Payments related to short-term contracts and low value assets, variable price contracts (note 26 18,312 17,775 60,256 54,464

Contractual obligations and def

Contractual obligations and deferred income	12 Months Ended
	Dec. 31, 2022
Contractual obligations and deferred income
Contractual obligations and deferred income	18 Contractual obligations and deferred income December 31, 2022 December 31, 2021 Refund liability (i) 51,533 37,122 Contract of exclusivity for processing payroll 587 783 Deferred income in leaseback agreement (ii) 4,075 5,678 Other contractual obligations 1,657 2,582 57,852 46,165 Current 57,852 46,037 Non-current - 128 57,852 46,165 (i) Refers to the customer’s right to return products, as mentioned in Note 11 (ii) In March 2018, the predecessor Somos-Anglo entered into a sales and leaseback agreement of a property located at Avenida João Dias in the city of São Paulo in the amount of R$ 25,500. This transaction included deferred income of R$ 9,104, which has been appropriated according to the lease term of the property (120 months).

Accounts payable for business c

Accounts payable for business combination and acquisition of associates	12 Months Ended
	Dec. 31, 2022
Accounts payable for business combination and acquisition of associates
Accounts payable for business combination and acquisition of associates	19 Accounts payable for business combination and acquisition of associates December 31, 2022 December 31, 2021 Pluri 3,653 3,251 Mind Makers 7,915 7,044 Livro Fácil 10,516 14,055 Meritt 300 3,347 SEL 30,267 26,935 Redação Nota 1000 6,030 7,230 EMME 10,827 12,780 Editora De Gouges 514,299 457,671 Phidelis 16,976 - Educbank 24,494 - 625,277 532,313 Current 73,007 20,502 Non-current 552,270 511,811 625,277 532,313 The changes in the balance are as follows: December 31, 2022 December 31, 2021 Opening balance 532,313 48,055 Additions 120,344 703,257 Cash payment (80,939 ) (205,280 ) Payments in installments (11,379 ) (19,168 ) Interest payment (603 ) (1,571 ) Interest adjustment 65,725 8,158 Remeasurement (184 ) (1,138 ) Closing balance 625,277 532,313 The maturity years of such balances as of December 31, 202 2 are shown in the table below: December 31, 2022 December 31, 2021 Maturity of installments Total % Total % In up to one 73,007 11.7 % 20,502 3.9 % One two 389,186 62.2 % 35,685 6.7 % Two three 163,084 26.1 % 166,730 31.3 % Three - - 309,396 58.1 % 625,277 100.0 % 532,313 100.0 %

Salaries and Social Contributio

Salaries and Social Contribution	12 Months Ended
	Dec. 31, 2022
Salaries and Social Contribution
Salaries and Social Contribution	20 Salaries and Social Contribution December 31, 2022 December 31, 2021 Salaries payable 28,351 22,348 Social contribution payable (i) 25,205 23,926 Provision for vacation pay and 13 21,454 10,616 Provision for profit sharing (ii) 25,047 5,923 Others - 16 100,057 62,829 (i) Refers to the effect of social contribution over restricted share units' compensation plans issued on July 31 and November 10, 2020. The Company records the taxes over the shares on a monthly basis . (ii) The provision for profit sharing is based on qualitative and quantitative metrics determined by Management.

Related parties

Related parties	12 Months Ended
	Dec. 31, 2022
Related parties
Related parties	21 Related parties As presented in note 1 21 The balances and transactions between the Company and its associates have been eliminated in the Company’s Consolidated Financial Statements. The balances and transactions between related parties are shown below: December 31, 2022 Other receivables (i) Trade receivables (Note 10 21 Indemnification asset (note 21 b ) Other payments Suppliers (note 16 ) Bonds (note 15 ) Cogna Educação S.A. - - 180,417 - 3,828 313,531 Editora Atica S.A. - 5,754 - - 9,778 - Editora E Distribuidora Educacional S.A. 1,722 19 - - - - Educação Inovação e Tecnologia S.A. - 389 - - 175 - Nice Participações Ltda - 37 - - - - Saraiva Educação S.A. - 749 - - - - Somos Idiomas S.A. - 229 - - - - Others 37 - - 54 - - 1,759 7,177 180,417 54 13,781 313,531 (i) Refers substantially to accounts receivable generated from sharing costs e.g IT services shared by the Company to Cogna Group. December 31, 2021 Other receivables (i) Trade receivables (Note 10 21 Indemnification asset (note 21 Other payments (ii) Suppliers (note 16 Bonds (note 15 ) Acel Adminstração de Cursos Educacionais Ltda - 6,482 - - 474 - Anhanguera Educacional Participacoes S.A. - 413 - - - - Centro Educacional Leonardo Da Vinci SS - - - - 6 - Cogna Educação S.A. - - 160,470 3,021 - 315,764 Colégio Ambiental Ltda - 805 - - - - Colégio JAO Ltda. - 4,974 - - 33 - Colegio Manauara Lato Sensu Ltda. - 3,291 - - 458 - Colegio Manauara Cidade Nova Ltda. 395 - Colegio Visao Eireli - 132 - - 13 - Colégio Cidade Ltda - 397 - - 15 - COLEGIO DO SALVADOR LTDA 1 - Curso e Colégio Coqueiro Ltda - 434 - - 20 - ECSA Escola A Chave do Saber Ltda - 1,444 - - 16 - Editora Atica S.A. - 2,207 - 20,040 9,239 - Editora E Distribuidora Educacional S.A. - 436 - 15,754 88 - Editora Scipione S.A. - 445 - 211 556 - Educação Inovação e Tecnologia S.A. - - - 128 - - Escola Mater Christi Ltda. - 765 - - 139 - Escola Riacho Doce Ltda - - - - 24 - Maxiprint Editora Ltda. - 1,205 - 117 76 - Nucleo Brasileiro de Estudos Avançados Ltda - 420 - - 45 - Papelaria Brasiliana Ltda - 644 - - - - Pitagoras Sistema De Educacão Superior Ltda. - 76 - - - - Saber Serviços Educacionais S.A. 14 7,269 - - 578 - Saraiva Educacão S.A. 365 1,179 - - 5,136 - SGE Comercio De Material Didatico Ltda. - - - - 1,687 - Sistema P H De Ensino Ltda. - 4,421 - - 177 - Sociedade Educacional Alphaville Ltda - 1,257 - - 1 - Sociedade Educacional Doze De Outubro Ltda. - 734 - - 47 - Sociedade Educacional Parana Ltda. - 91 - - 11 - Somos Idiomas S.A. 122 - - - - - Somos Operações Escolares S.A. - 3,305 - - 29 - SSE Serviços Educacionais Ltda. - 3,602 - - 665 - 501 46,824 160,470 39,271 19,533 315,764 (i) (i) Refers substantially to accounts receivable generated from sharing costs e.g IT services shared by the Company to Cogna Group. (ii) Refers substantially to accounts payable by sharing expenses e.g property leasing, personnel and IT licenses shared with Cogna Group. Year ended December 31, 2022 Year ended December 31, 2021 Year ended December 31, 2020 Transactions held: Revenues Finance costs (i) note 15 Cost Sharing (note 21 Sublease (note 21 Revenues Finance costs Cost Sharing (note 21 Sublease (note 21 Revenues Finance costs Cost Sharing (note 21 d) Sublease (note 21 f) Acel Administracao De Cursos Educacionais Ltda. - - - - 2,790 - - - 1,230 - - - Centro Educacional Leonardo Da Vinci SS - - - - 41 - - - 1,319 - - - Cogna Educação S.A. - 36,573 - - - 25,859 - - - 48,432 - - Colégio Ambiental Ltda - - - - 496 - - - - - - - Colégio Cidade Ltda - - - - 146 - - - - - - - Colegio JAO Ltda. - - - - 1,582 - - - 387 - - - Colégio Manauara Lato Sensu Ltda. - - - - 1,903 - - - 3,139 - - - Colégio Manauara Cidade Nova Ltda - - - - 275 - - - - - Colégio Motivo Ltda. - - - - 35 - - - 1,308 - - - Colégio Visão Ltda - - - - 287 - - - - - - - Cursos e Colégio Coqueiros Ltda - - - - 268 - - - - - - - Ecsa Escola A Chave Do Saber Ltda. - - - - 593 - - - 657 - - - Editora Atica S.A. 16,286 - 5,757 8,551 5,374 - 6,130 13,153 7,287 229 11,989 15,364 Editora E Distribuidora Educacional SA. - - 29,475 - - - 31,384 - 1,841 - 36,144 1,489 Editora Scipione SA. 3,096 - - - 1,341 - - - 1,551 - - - Escola Mater Christi - - - - 311 - - - 246 - - - Escola Riacho Doce Ltda - - - - 77 - - - - - - - Maxiprint Editora Ltda. 6,665 - - - 1,107 - - - 612 - - - Nucleo Brasileiro de Estudos Avancados Ltda - - - - 276 - - - 423 - - - Papelaria Brasiliana Ltda - - - - 249 - - - 1,287 - - - Saber Serviços Educacionais S.A. 41 - - - 900 - - - 1,254 6,740 - 729 Saraiva Educacao SA. 4,090 - - 1,905 2,405 - - 2,528 3,364 - - 3,739 Sistema P H De Ensino Ltda. - - - - 4,417 - - - 5,776 - - - Sociedade Educacional Alphaville SA - - - - 414 - - - 317 - - - Sociedade Educacional Doze De Outubro Ltda - - - - 360 - - - 295 - - - Sociedade Educacional Neodna Cuiaba Ltda. - - - - 224 - - - 367 - - - SOE Operações Escolares SA. - - - - 1,086 - - - - - - - Somos Idiomas Ltda 641 - - 2,591 - - - 258 - - - - Somos Operações Escolares SA. - - - - 243 - - - - - - - SSE Serviços Educacionais Ltda. 863 - - - 1,463 - - - - - - - Sociedade Educacional Paraná Ltda. - - - - - - - - 795 - - - Sociedade Educacional Neodna Cuiaba Ltda. - EPP - - - - - - - - 367 - - - Somos Educação S.A. - - - - - - - - - 278 - - Others - - - - - - - - - - - 362 31,682 36,573 35,232 13,047 28,663 25,859 37,514 15,939 33,822 55,679 48,133 21,683 (i) Refers to debentures interest; see Note 15 a. Suppliers and other arrangements with related parties In consequence to carve out process on December 31, 2019, Cogna’s associates also had some shared expenses such as property lease, expenses with personnel and software license, which continued even after the carve-out process was completed and still remain today. As of December 31, 2022, only shared expense transactions are part of these commitments, which amounted to R$54 (R$39,271 as of December 31, 2021). b. Indemnification asset In December 2019, the Company and Cogna Group signed the agreement to legally bind the indemnification from the seller in connection with the acquisition of Somos by the Cogna Group, in order to indemnify the Company for any and all losses that may be incurred in connection with all contingencies or lawsuits related to Somos-Anglo up to the maximum amount of R$ 180,417 as of December 31, 2022 (R$ 160,470 as of December 31, 2021). See Provision for risks of tax, civil and labor losses and judicial deposits and escrow account footnote (note 22 c. Trade receivables The Company and its subsidiaries provide learning systems, textbooks, and complementary educational solutions to the Cogna Group which substantially comprises schools, publishers, language schools and stationery shops. All sales and services provided are based on intercompany contracts and its commercial conditions, which include price, margin and payment terms, were determined on an arm’s length basis. d. Cost sharing agreements with related parties The Company expensed certain amounts based on an apportionment from Cogna Group related to shared services, including the shared service center, IT expenses, proprietary IT systems and legal and accounting activities, and shared warehouses and other logistic activities based on agreements. Those expenses, in the amount of R$ 35,232 as of December 31, 2022 (R$ 37,514 for the year ended December 31, 2021) are related to these apportionments. e. Brand and Copyrights sharing agreements with related parties In November and December 2019, the Company entered into brand and copyrights sharing agreements with related parties, as follows: (i) On November 6, 2019, the Company entered into a trademark license agreement (as amended in 2020 (ii) On November 11, 2019, the Company and EDE (Cogna Group’s Parent Company) entered into a copyright license agreement whereby EDE agreed to grant a license, at no cost, to the Company, for commercial exploitation and use of copyrights related to the educational platform materials. This agreement was valid for three years, and it has not been renewed. (iii) On December 6, 2019, the Company also entered into two trademark license agreements (as amended in 2020 . f. Lease and sublease agreements with related parties The Company and its related parties also shared the infrastructure of leased warehouses and other properties, which are direct expenses of the Cogna Group, The expenses related to these lease payments were recognized in the consolidated financial statements according to assumptions defined by Management based on utilization of these properties by the Company, However, as part of its corporate restructuring (Note 1 f, 1 Commercial lease agreement Lessee Entity Counterparty to lease agreement (Lessor) Monthly payments Maturity Rate State of the property in use Somos Sistemas de Ensino S.A. Editora Scipione S.A. R$44 60 months from the agreement date Inflation index Pernambuco (Recife) Somos Sistemas de Ensino S.A. Editora Ática S.A. R$37 60 months from the agreement date Inflation index Bahia (Salvador) f, 2 Commercial sublease agreement Entity (Sublessor) Counterparty to the sublease agreement (Sublessee) Monthly payments Maturity Rate State of the property in use Editora e Distribuidora Educacional S.A. (“EDE”) Somos Sistemas de Ensino S.A. R$ 430 September 30, 2025. Inflation index São Paulo (São Paulo) Somos Sistemas de Ensino S.A. Editora Ática S.A. R$827 September 30, 2025. Inflation index São Paulo (São José dos Campos) Somos Sistemas de Ensino S.A. Somos Idiomas S.A. R$ 53 September 30, 2025. Inflation index São Paulo (São José dos Campos) Somos Sistemas de Ensino S.A. Saraiva Educação S.A (“Saraiva”) R$ 207 September 30, 2025. Inflation index São Paulo (São José dos Campos) Somos Sistemas de Ensino S.A. Livraria Livro Fácil Ltda,(“Livro Fácil”) R$ 1,160 September 30, 2025. Inflation index São Paulo (São José dos Campos) Income from these lease and sublease agreements with related parties was recognized in the Consolidated Financial Statements as of December 31, 2022 in the amount of R$ (R$ for the year ended December 31, 2021). g. Compensation of key management personnel Key management personnel include the members of the Board of Directors, Audit Committee, the CEO and the vice-presidents, for which the nature of the tasks performed were related to the activities of the Company. For the year ended December 31, 2022, key management compensation, including charges and variable compensation amounted to R$ 20,426 (R$ 12,990 for the year ended December 31, 2021). The Audit Committee and Board of Directors were established in July 2020 as a result of the IPO. The following benefits are granted to the Company’s management members: healthcare plan, share-based compensation plan, discounts on monthly tuition of K- 12 See below the compensation of key management personnel by nature: a) Short term benefits - Short-term benefits include fixed compensation (salaries and fees, vacation, mandatory bonus, and “ 13 b) Long-term benefits - The Company also offered to certain key management personnel payment based on its restricted shares units – ILP, amounting to R$ 9,640 for the year ended December 31, 2022 (R$ 8,305 for the year ended December 31, 2021) including payroll charges. The Key management personnel compensation expenses comprised the following: December 31, 2022 December 31, 2021 December 31, 2020 Short-term employee benefits 10,786 4,685 6,982 Share-based compensation plan 9,640 8,305 33,594 20,426 12,990 40,576 h. Guarantees related to finance On November 21, 2018, Mind Makers entered into a bank credit note in favor of Banco de Desenvolvimento de Minas Gerais SA - BDMG, for an aggregate amount of R$1,676 with maturity on November 15, 2026. A personal lien to secure this bank credit note was granted by certain individuals, including, our Chief Executive Officer. This liability was settled during 2022

Provision for tax, civil and la

Provision for tax, civil and labor losses and Judicial deposits and escrow accounts	12 Months Ended
	Dec. 31, 2022
Provision for tax, civil and labor losses and Judicial deposits and escrow accounts
Provision for tax, civil and labor losses and Judicial deposits and escrow accounts	22 Provision for tax, civil and labor losses and Judicial deposits and escrow accounts The Company classifies the likelihood of loss in judicial/administrative proceedings in which it is a defendant. Provisions are recorded for contingencies classified as probable loss in an amount that Management, in conjunction with its legal advisors, believes is enough to cover probable losses or when related to contingences resulting from business combinations. In connection with the acquisition of Somos Group (Vasta’s predecessor) by Cogna Group, provisions for contingent liabilities assumed by Cogna were recognized when potential non-compliance with labor and civil legislation arising from past practices of subsidiaries acquired were identified. Thus, at the acquisition date, Cogna reviewed all proceedings for which liabilities were transferred to assess whether there was a present obligation and if the fair value could be measured reliably. The contingent liabilities are composed as follows: a. Composition December 31, 2022 December 31, 2021 Proceedings whose likelihood of loss is probable Tax proceedings (i) 622,440 607,084 Labor proceedings (ii) 25,812 38,159 Civil proceedings 496 376 648,748 645,619 Liabilities assumed in Business Combination Labor proceedings (ii) 1,755 - Civil proceedings - 1,231 Tax proceedings 749 - 2,504 1,231 Total of provision for tax, civil and labor losses 651,252 646,850 (i) Primarily refers to income tax positions taken by Somos and the Company in connection with a corporate restructuring held by the predecessor in 2010 2018 2018 (ii) The Company is a party to labor demands, which mostly refer to proportional vacation, salary difference, night shift premium, overtime and social charges, among others. There are no individual labor demands with material amounts that require specific disclosure. The changes in provision for the years ended December 31, 2022 and 2021 December 31, 2021 Business combination Additions Reversals Interest Payments Decem ber 31, 2022 Tax proceedings 607,084 749 2,904 (27,790 ) 41,261 (1,019 ) 623,189 Labor proceedings 38,159 1,755 3,376 (16,045 ) 776 (454 ) 27,567 Civil proceedings 1,607 - 368 (1,615 ) 26 110 496 Total 646,850 2,504 6,648 (45,450 ) 42,063 (1,363 ) 651,252 Reconciliation with profit or loss for the period Finance expense - - (42,063 ) General and administrative expenses (6,648 ) 21,747 - Income tax and social contribution - 23,703 - Total (6,648 ) 45,450 (42,063 ) December 31, 2020 Business combination Additions Reversals Interest Payments December 31, 2021 Tax proceedings 575,724 - 16 (262 ) 31,623 (17 ) 607,084 Labor proceedings 37,896 - 3,468 (5,294 ) 2,636 (547 ) 38,159 Civil proceedings 313 1,231 110 (24 ) 41 (64 ) 1,607 Total 613,933 1,231 3,594 (5,580 ) 34,300 (628 ) 646,850 Reconciliation with profit or loss for the period Finance costs - - (34,300 ) General and administrative expenses (3,594 ) 5,580 - Total (3,594 ) 5,580 (34,300 ) b. Judicial Deposits and Escrow Accounts Judicial deposits and escrow accounts recorded as non-current assets are as follows: December 31, 2022 December 31, 2021 Tax proceedings 2,126 2,300 Indemnification asset -Former owner 1,801 1,998 Indemnification asset – Related parties (i) 180,417 160,470 Escrow-account (ii) 10,515 14,055 194,859 178,824 (i) Refers to an indemnification asset of the seller in connection with the acquisition of Somos (Vasta’s Predecessor) by Cogna Group (Vasta’s Parent Company) and recognized at the date of the business combination, in order to indemnify the Company for all losses that may be incurred in connection with all contingencies or lawsuits, substantially tax proceedings related to business combinations up to the maximum amount of R$ 180,417 160,470 21 (ii) Refers to guarantees received as a consequence of business combinations, in connection with contingencies whose likelihood of loss is probable, and for which the former owners are liable. According to the Sale Agreement, these former owners will reimburse the Company in case payments are required and if those contingencies materialize.

Current and Deferred Income Tax

Current and Deferred Income Tax and Social Contribution	12 Months Ended
	Dec. 31, 2022
Current and Deferred Income Tax and Social Contribution
Current and Deferred Income Tax and Social Contribution	23 Current and Deferred Income Tax and Social Contribution a. Reconciliation of income tax and social contribution The reconciliation of income tax and social contribution expense is as follows: As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Loss before income tax and social contribution for the year (105,687 ) (155,843 ) (71,053 ) Nominal statutory rate of income tax and social contribution 34% 34% 34% IRPJ and CSLL calculated at the nominal rates 35,934 52,987 24,158 Share of loss equity-accounted investees (1,534 ) - - Permanent additions (8,292 ) (7,265 ) 1,246 Additional IRPJ - 24 - Difference in presumed profit rate of subsidiary 3,617 - - Tax Contingencies IRPJ and CSLL 23,703 - - Impairment write-off on tax loss carryforward ( 2,314 ) (8,657 ) - Total IRPJ and CSLL 51,114 37,089 25,404 Current IRPJ and CSLL in the result 10,668 (11,297 ) 7,874 Deferred IRPJ and CSLL in the result 40,446 48,386 17,530 51,114 37,089 25,404 Effective tax rate of Income and social contribution tax benefit 48% 24% 36% b. Deferred taxes Changes in deferred income tax and social contribution assets and liabilities are as follows: i. December 31, 2022 As of December 31, 2021 Effect on profit (loss) As of December 31, 2022 Income tax/social contribution: Income tax and social contribution losses carryforwards (ii) 307,319 114,921 422,240 Temporary Differences: Impairment losses on trade receivables 13,010 7,461 20,471 Provision for obsolete inventories (1,262 ) 4,608 3,346 Imputed interest on suppliers (2,157 ) (3,391 ) (5,548 ) Provision for risks of tax, civil and labor losses 20,025 420 20,445 Refund liabilities and right to returned goods 9,470 6,348 15,818 Lease Liabilities 6,660 1,276 7,936 Fair value adjustments on business combination and goodwill amortization (i) (248,628 ) (109,826 ) (358,454 ) Other temporary difference 25,968 18,628 44,596 Deferred Assets, net 130,405 40,446 170,851 (i) Goodwill and fair value adjustments on business combination comprise three (ii) The Company’s income tax and social contribution loss carryforwards are primarily the result of tax amortization of goodwill and the amortization of certain intangibles recognized related to the business combination in 2018 2026 ii. December 31, 2021 and 2020 Changes in deferred income tax and social contribution assets and liabilities are as follows: As of December 31, 2020 Effect on profit (loss) Deferred tax on business combination As of December 31, 2021 Income tax/social contribution: Income tax and social contribution losses carryforwards 182,257 125,062 - 307,319 Temporary Differences: Impairment losses on trade receivables 9,543 3,467 - 13,010 Provision for obsolete inventories 3,263 (4,525 ) - (1,262 ) Imputed interest on suppliers (744 ) (1,413 ) - (2,157 ) Provision for risks of tax, civil and labor losses 19,138 887 - 20,025 Refund liabilities and right to returned goods 10,903 (1,433 ) - 9,470 Lease Liabilities 4,764 1,896 - 6,660 Fair value adjustments on business combination and goodwill amortization (i) (150,598 ) (90,588 ) (7,442 ) (248,628 ) Other temporary difference 10,020 15,033 915 25,968 Deferred Assets, net 88,546 48,386 (6,527 ) 130,405 (i) Goodwill three

Shareholder's Equity

Shareholder's Equity	12 Months Ended
	Dec. 31, 2022
Shareholder's Equity
Shareholder's Equity	24 Shareholder’s Equity 2 4 a. Share Capital Considering the corporate restructuring mentioned in note 1.2 2020 As of December 31, 2020, the Company had 83,011,585 common shares issued and outstanding, of which were Class B common shares and 18,575,492 were Class A common shares. On June 22, 2021 , the Board of Directors approved the issuance of 382,266 class A common shares, at par value of US$0.00005 per share. As a result, the Company’s share capital on December 31, 2021 totals 83,393,851 shares, of which 64,436,093 Class B shares are owned by the Cogna Group and 18,957,758 are owned by third parties. Considering the ILP exercised during 2022, in addition to the remuneration of restricted shares recognized in the same period, on December 31, 2022, the Company's capital stock totals are Class A shares owned by third-parties and 1,000,000 shares Class A are held in treasury. The Company’s Shareholders Agreement authorizes the Board of Directors to grant restricted share units to certain executives and employees and other service providers with respect to up to 3% ( three during 2022 the Company granted the following Class A shares to certain employees and executives: Class A Shares (units) Class B Shares (units) Total December 31, 2021 18,957,758 64,436,093 83,393,851 Remuneration ILP exercised 184,117 - 184,117 Premium recognized 71,919 - 71,919 December 31, 2022 19,213,794 64,436,093 83,649,887 See below the Company’s description of each restricted share unit plan vested and its corresponding changes disclosed in the Consolidated Statement of Changes in Equity, specifically in the “Share based compensation reserve (vested)”: (i) The Company issued 298,268 class A share units as part of Bonus IPO remuneration, which were granted to eligible executives and employees. These share units represented R$ 29,124 (net of withholding taxes) previously provisioned in Share Based Compensation Reserves (granted) and transferred to Share Based Compensation Reserves (vested) – exercised in the Consolidated Statement of Changes in Shareholders’ Equity. The Bonus IPO was conditioned to a 1-year lockup period expired in July 2021. There were no shares vested in 2022 2021 amounted to R$ 21,456 . (ii) As result of the carve-out process, as described in Note 1.2 Cogna’s executives and employees (eligible) were transferred to the Company. Those eligible executives and employees were part of the Cogna Plan and their plans were migrated to the Vasta ILP Plan, as described in Note 2 4 c . In as much as those eligible parties exercise their plan, the Company delivers a fixed quantity of share units to them. The amount provisioned previously in Share based Compensation Reserves (granted) in the Consolidated Statement of Changes in Shareholders’ Equity on December 31, 202 2 is R$ 259 (R$ 58 on December 31, 2021), and was transferred to Share based compensation reserves (vested) – exercised. The corresponding payroll charges in 202 2 amounted to R$ 167 (R$ 70 in 2021 . (iii) The Company remunerated part of its executives based on restricted share units. The amount provisioned and paid in 202 2 was R$ 1,912 (R$ 1,861 in 2021 net of withholding taxes, see Share Based Compensation Reserves (granted) and subsequently vested to Share based compensation reserves (vested). Payroll charges in 202 2 amounted to R$ 1,748 (R$ 1,538 in 2021 The Company’s shareholders on December 31, 202 2 are as follows: In units Company Shareholders Class A Class B Total Cogna Group - 64,436,093 64,436,093 Free Float 18,213,794 - 18,213,794 Treasury shares (Note 24 1,000,000 - 1,000,000 Total (%) 23% 77% 83,649,887 2 4 b Loss per share The basic loss per share is measured by dividing the profit attributable to the Company’s shareholders by the weighted average common shares outstanding during the year. The Company considers as diluted earnings per share, the number of common shares calculated added by the weighted average number of common shares that should be issued upon conversion of all potentially dilutive shares into common shares; potentially dilutive shares were deemed to have been converted into common shares at the beginning of the period. December 31, 2022 December 31, 2021 December 31, 2020 Loss Attributable to Shareholder´s (54,573 ) (118,754 ) (45,649 ) Weighted average number of ordinary shares outstanding (thousands) (i) 83,651 82,254 83,012 Basic earning (loss) per share - R$ (0.65 ) (1.44 ) (0.55 ) Diluted earning (loss) per share - R$ (0.65 ) (1.44 ) (0.55 ) (i) The Company has not changed its number of voting rights since the IPO on July 31, 2020. 2 4 c Capital reserve - Share-based compensation (granted) The Company as of December 31, 202 2 had two share based compensation plans and one bonus plan paid in restricted share units, being: a) Cogna Plan - On September 3, 2018, Cogna Group´ shareholders approved a restricted share-based compensation plan, which may grant rights to receive a maximum number of restricted shares not exceeding 19,416,233 shares, corresponding to 1.2% of Cogna Group’s total share capital at the Plan’s approval date, excluding shares held in treasury on such date. This program should be wholly settled with delivery of Cogna’s shares. Cogna Group´s obligation to transfer the restricted shares under the Plan, in up to 10 days from the end of the vesting period, is contingent upon the continuing employment relationship of the employee or officer, as appropriate, for a period of three years from the date the respective agreement is signed. The number of outstanding restricted shares as of December 31, 202 2 was zero (155,919 as of December 31, 202 1 ) and the grant date fair value was R$10,58. The effect of events on compensation in the Consolidated Statement of Profit or Loss for the year ended December 31, 202 2 was R$ 557 including labor charges (R$ 2,234 , including labor charges for the year ended December 31, 202 1 ). b) Long Term Investment – (“ILP”) – Refers to two tranches granted being the first issued on July 23, 2020 and November 10, 2020. The Company compensates part of its employees and management. This plan will grant up to 3% of the Company’s class A share units. The Company will grant the limit of five tranches approved by the Company’s Board of Directors. The fair value of share units is measured at fair value quoted on the grant date. The plan has a vesting period corresponding to 5 years added by expected volatility of 30% and will be settled with Company’s shares. All taxes and contributions are paid by the Company without additional costs to employees and management. This program should be wholly settled with the delivery of the shares. The effect of events on share-based compensation in the Consolidated Statement of Profit or Loss for the year ended December 31 202 2 was R$ 22,461 , being R$ 22,404 in Shareholder’s the Equity and a credit of R$ 58 as labor charges in liabilities, due to share price fluctuation (R$ 21,372 being R$ 21,250 in Shareholder’s the Equity and a credit of R$ 122 as labor charges in liabilities for the year ended December 31 202 1 . c) Bonus paid in restricted share units – “Premium recognized” - The Company granted and vested 99,193 shares on April, 2022 to certain members of management based on performance recognized. This program was wholly settled with the delivery of the shares. The amount provisioned and paid was R$ 1,748 (net of withholding taxes), of which R$ 1,023 corresponds to labor charges. 2 4 d Vasta’s share Repurchase Program On 2021

Net Revenue from sales and Serv

Net Revenue from sales and Services	12 Months Ended
	Dec. 31, 2022
Net Revenue from sales and Services
Net Revenue from sales and Services	25 Net Revenue from sales and Services The breakdown of net sales of the Company for the years ended December 31, 2022, 2021 2020 December 31, 2022 December 31, 2021 December 31, 2020 Learning Systems Gross revenue 878,468 568,522 608,200 Taxes (382 ) (219 ) (40 ) Discounts (13,157 ) (14,302 ) (8,603 ) Returns (78,468 ) (41,919 ) (17,553 ) Net revenue 786,461 512,082 582,004 Textbooks Gross revenue 228,094 212,708 308,298 Taxes (214 ) (1,608 ) (250 ) Discounts (1,120 ) - - Returns (31,401 ) (41,330 ) (72,488 ) Net revenue 195,359 169,770 235,560 Complementary Education Services Gross revenue 159,207 148,817 63,491 Taxes (193 ) (961 ) (17 ) Discounts (1,415 ) - (6 ) Returns (15,755 ) (10,459 ) (2,880 ) Net revenue 141,844 137,397 60,588 Other services Gross revenue 38,727 34,498 34,118 Taxes (7,046 ) (3,034 ) (3,864 ) Net revenue 31,681 31,464 30,254 Total Content & EdTech Gross revenue 1,304,496 964,545 1,014,107 Taxes (7,835 ) (5,822 ) (4,171 ) Discounts (15,692 ) (14,302 ) (8,609 ) Returns (125,624 ) (93,708 ) (92,921 ) Net revenue 1,155,345 850,713 908,406 E-commerce Gross revenue 113,569 100,084 97,632 Taxes (1,873 ) (2,473 ) (2,261 ) Returns (5,533 ) (2,595 ) (6,149 ) Net revenue 106,163 95,016 89,222 Other digital services Gross revenue 3,026 1,850 - Taxes (254 ) (160 ) - Net revenue 2,772 1,690 - Total Digital Services Gross revenue 116,595 101,934 97,632 Taxes (2,127 ) (2,633 ) (2,261 ) Returns (5,533 ) (2,595 ) (6,149 ) Net revenue 108,935 96,706 89,222 Total Gross revenue 1,421,091 1,066,479 1,111,739 Taxes (9,962 ) (8,455 ) (6,432 ) Discounts (15,692 ) (14,302 ) (8,609 ) Returns (131,157 ) (96,303 ) (99,070 ) Net revenue 1,264,280 947,419 997,628 Sales 1,229,827 914,266 967,374 Service 34,453 33,153 30,254 Net revenue 1,264,280 947,419 997,628

Costs and Expenses by Nature

Costs and Expenses by Nature	12 Months Ended
	Dec. 31, 2022
Costs and Expenses by Nature
Costs and Expenses by Nature	26 Costs and Expenses by Nature December 31, 2022 December 31, 2021 December 31, 2020 Salaries and payroll charges (281,894 ) (274,581 ) (279,523 ) Raw materials and productions costs (201,700 ) (185,862 ) (216,791 ) Editorial costs (49,329 ) (71,705 ) (52,794 ) Depreciation and amortization (268,714 ) (211,156 ) (174,088 ) Copyright (72,348 ) (58,885 ) (59,597 ) Advertising and publicity (99,834 ) (77,655 ) (88,965 ) Utilities, cleaning and security (20,087 ) (25,505 ) (19,499 ) Rent and condominium fees (18,312 ) (17,775 ) (14,278 ) Third-party services (47,667 ) (25,758 ) (23,904 ) Travel (23,577 ) (8,747 ) (8,760 ) Consulting and advisory services (34,166 ) (23,395 ) (25,269 ) Impairment losses on trade receivables (45,904 ) (32,726 ) (25,015 ) Material (6,263 ) (3,523 ) (3,708 ) Taxes and contributions (1,777 ) (2,808 ) (2,066 ) Reversal for tax, civil and labor risks 15,099 1,986 2,092 Provision for obsolete inventories (40,924 ) (22,117 ) (4,057 ) Income from lease and sublease agreements with related parties 13,047 15,939 21,683 Other income, net 662 5,554 4,283 (1,183,688 ) (1,018,719 ) (970,256 ) Cost of goods sold and services (473,135 ) (396,829 ) (378,003 ) Commercial expenses (194,043 ) (164,439 ) (165,169 ) General and administrative expenses (471,626 ) (430,279 ) (406,352 ) Impairment loss on accounts receivable (45,904 ) (32,726 ) (25,015 ) Other operating income, net 1,020 5,554 4,283 (1,183,688 ) (1,018,719 ) (970,256 )

Finance result

Finance result	12 Months Ended
	Dec. 31, 2022
Finance result
Finance result	27 Finance result December 31, 2022 December 31, 2021 December 31, 2020 Finance income Income from financial investments and marketable securities (i) 54,954 26,719 16,907 Income finance from indemnification assets and contingencies (ii) 31,077 6,818 1,476 Other finance income 2,526 2,103 2,601 88,557 35,640 20,984 Finance costs Interest on bonds and financing (108,896 ) (43,549 ) (52,935 ) Interest on account payables for business combinations (65,725 ) ( 8,158 ) ( 1,568 ) Imputed interest on suppliers (19,810 ) (6,609 ) (12,286 ) Interest on Loans from related parties - (157 ) (3,344 ) Bank and collection fees (3,891 ) (6,587 ) (17,771 ) Interest on provision for tax, civil and labor losses (52,891 ) (34,300 ) (13,297 ) Interest on Lease Liabilities (13,143 ) (14,984 ) (15,077 ) Other finance costs (5,968 ) (5,839 ) (3,131 ) (270,324 ) (120,183 ) (119,409 ) Financial Result (net) (181,767 ) (84,543 ) (98,425 ) (i) Refers to income from marketable securities indexed at CDI. (ii) Refers to an indemnification asset in the amount of R$ 20,249 in connection with the acquisition of ( Predecessor) by Group ( Parent Company), as mentioned in the note 21

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2022
Segment Reporting
Segment Reporting	28 Segment Reporting Information reported to the Chief Operating Decision Maker (CODM) for the purposes of resource allocation and assessment of segment performance is focused on revenue, “profit (loss) before finance result and tax”, assets and liabilities segregated by the nature of the services provided to the Company’s customers. Thus, the reportable segments are: (i) Content & EdTech Platform; and (ii) Digital Services. The Content & EdTech platform derives its results from core and complementary educational content solutions through digital and printed content, including textbooks, learning systems and other complementary educational services. The Digital Services aims to unify the entire school administrative ecosystem, allowing private schools to add multiple learning strategies and help them to focus on education, through the physical and digital e-commerce platform (Livro Fácil) and other digital services of the Company. Operations related to this segment began with the acquisition of Livro Fácil. In August 2021, the Company acquired EMME, which has its digital platform aimed at the production of educational marketing material for the Company's partner schools. Additionally, in January 2022, the Company acquired MVP and Phidelis, see note 5 Due to the nature of the Company’s e-commerce platform, the Content & EdTech Platform segment sells its printed and digital content to the Digital Services segment. These transactions are priced on an arm’s length basis and are to be settled in cash. However, the eliminations made in preparing the consolidated financial statements are included in the measure of the segment’s profit or loss that is used by the CODM, and therefore the amounts presented herein are net of such intersegment transactions. T he following table presents the Company’s revenue, its reconciliation to “profit (loss) before finance result and tax”, assets and liabilities by reportable segment. No other information is used by the CODM when assessing segment performance: December 31, 2022 Content & EdTech Platform Digital Services Platform Total Net revenue from sales and services 1,155,345 108,935 1,264,280 Cost of goods sold and services (375,167 ) (97,968 ) (473,135 ) Operating income (expenses) General and administrative expenses (445,330 ) (26,295 ) (471,626 ) Commercial expenses (183,118 ) (10,926 ) (194,043 ) Other operating income, net 2,260 (1,240 ) 1,020 Impairment losses on trade receivables (45,769 ) (135 ) (45,904 ) Share of loss equity-accounted investees (4,512 ) - (4,512 ) Profit (loss) before finance result and taxes 103,709 (27,629 ) 76,080 Assets 7,438,094 82,497 7,520,591 Current and non-current liabilities 2,852,390 38,521 2,890,911 December 31, 2021 Content & EdTech Platform Digital Services Total Net revenue from sales and services 850,713 96,706 947,419 Cost of goods sold and services (327,651 ) (69,178 ) (396,829 ) Operating income (expenses) General and administrative expenses (413,746 ) (16,533 ) (430,279 ) Commercial expenses (147,664 ) (16,775 ) (164,439 ) Other operating income 5,469 85 5,554 Impairment losses on trade receivables (32,344 ) (382 ) (32,726 ) Loss before finance result and taxes (65,223 ) (6,077 ) (71,300 ) Assets 7,207,084 126,323 7,333,407 Current and non-current liabilities 2,605,351 62,847 2,668,198 December 31, 2020 Content & EdTech Platform Digital Services Total Net revenue from sales and services 908,406 89,222 997,628 Cost of goods sold and services (301,882 ) (76,121 ) (378,003 ) Operating income (expenses) General and administrative expenses (387,023 ) (19,329 ) (406,352 ) Commercial expenses (152,659 ) (12,510 ) (165,169 ) Other operating income 4,283 - 4,283 Impairment losses on trade receivables (25,015 ) - (25,015 ) Profit (Loss) before finance result and taxes 46,110 (18,738 ) 27,372 Assets 6,848,198 130,072 6,978,270 Current and non-current liabilities 2,141,107 51,847 2,192,953 The Segments’ profit represents the profit earned by each segment without finance results and income tax expense. This is the measure reported to the CODM for the purpose of resource allocation and assessment of segment performance. The Company operates in Brazil, with no revenue from foreign customers, Additionally, no single customer contributed 10% or more to the Company’s segments revenue for the years ended December 31, 2022, 2021 2020

Non-cash transactions

Non-cash transactions	12 Months Ended
	Dec. 31, 2022
Non-cash transactions
Non-cash transactions	29 Non-cash transactions Non-cash transactions for the years ended December 31, 2022, 2021 2020 17 17 2022 1000 2021 5

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2022
Subsequent events
Subsequent events	3 0 Subsequent events Anglo Start Acquisition The Company, through its subsidiary Somos Sistemas de Ensino S.A (“Somos”), acquired a 51% interest in the capital of “Escola Start Ltda.”, (“Start”), on March 3, 2023. Start is a company dedicated to providing bilingual education services for kindergarten, primary and secondary education, and preparatory courses for entrance exams, including the sale of books, teaching materials, school uniforms and stationery. The purchase price of R$4,454 will be paid in two On the same date, a purchase option agreement was entered into for the acquisition of the remaining shares issued by Anglo Start held by the minority shareholder, representing 49% of the share capital, as of January 2028, through which the amount of R$11,700.

Significant accounting polici_2

Significant accounting policies and new and not yet effective accounting standards (Policies)	12 Months Ended
	Dec. 31, 2022
New accounting policies and significant accounting policies adopted
Cash and Cash Equivalents	a. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, bank deposits and highly liquid short-term investments and have maturities of
Financial Assets and Liabilities	b. Financial Assets and Liabilities i Classification Financial Assets’ classification depends on the entity’s business model for managing them and if their contractual cash flows represent solely payments of principal and interest. Based on this assessment Financial Assets are classified as measured: at amortized cost, at FVTOCI (fair value through other comprehensive income); or at FVTPL (fair value through profit or loss). A business model to manage financial assets refers to the way the Company manages its financial assets to generate cash flows, determining if the cash flows will occur through the collection of contractual cash flows at maturity date, through the sale of the financial asset, or both. The information considered in the business model evaluation includes the following: • The policies and goals established for the portfolio of financial assets and feasibility of these policies. They include whether management’s strategy focuses on obtaining contractual interest income, maintaining a certain interest rate profile, matching the duration of financial assets with the duration of related liabilities or expected cash outflows, or the realization of cash flows through the sale of assets. • how the performance of the portfolio is evaluated and reported to the Company’s Management. • risks that affect the performance of the business model (and the financial assets held in that business model) and the manner in which those risks are managed. • how business managers are compensated - for example, if the compensation is based on the fair value of managed assets or on the contractual cash flows obtained; and • the volume and timing of sales of financial assets in prior periods, the reasons for such sales and future sales expectations. For assessing whether contractual cash flows represent solely payments of principal and interest, “principal” is defined as the fair value of the financial asset upon initial recognition. “Interest” is defined as a consideration for the amount of cash at the time and for the credit risk associated with outstanding principal amount during a certain period and for other risks and base costs of loans (for example, liquidity risk and administrative costs), as well as for the profit margin. The Company considers the contractual terms of the instruments to evaluate whether the contractual cash flows are only payments of principal and interest. This includes evaluating whether the financial asset contains a contractual term that could change the timing or amount of the contractual cash flows so that it would not meet this condition. In making this evaluation, the Company considers the following: • contingent events that change the amount or timing of cash flows. • terms that may adjust the contractual rate, including variable rates. • the prepayment and the extension of the term; and • the terms that limit the access of the Company to cash flows from specific assets (for example, based on the performance of an asset). Due to their nature, as of December 31, 202 2 and 202 1 the Company’s financial assets are classified as “measured at amortized cost” , except for the Marketable securities and other investments and interests in entities, which are classified as “measured at fair value through profit or loss”. Financial assets are not reclassified after initial recognition, unless the Company changes the business model for the management of financial assets, in which case all financial assets affected are reclassified on the first day of the reporting period subsequent to the change in the business model. Financial liabilities are classified as measured as amortized cost or at FVTPL. A financial liability is classified as measured at fair value through profit or loss if it is classified as held for trading, if it is a derivative or assigned as such upon initial recognition. Due to their nature, as of December 31, 202 2 and 202 1 the Company’s financial liabilities are classified as “measured at amortized cost”. ii. Initial Recognition and Subsequent Measurement Trade receivables are initially recognized on the date they were originated. All other financial assets and liabilities are initially recognized when the Company becomes a party to the instrument’s contractual provisions. A financial asset (unless it is trade receivable without a significant financing component) or a financial liability is initially measured at fair value, plus, for an item not measured at FVTPL (fair value through profit or loss), transaction costs which are directly attributable to its acquisition or issuance. A trade receivable without a significant financing component is initially measured at its transaction price. Financial assets carried at fair value through profit or loss are initially recognized at fair value, and transaction costs are expensed in statements of profit or loss. Financial assets are derecognized when the rights to receive the cash flows expired or have been transferred and the Company has transferred substantially all the risks and rewards of ownership. Gains or losses arising from changes in the fair value of the "Financial assets at fair value through profit or loss", as well as interest income accrued over “Assets measured at amortized cost”, are presented in statements of profit or loss under "Finance income" in the period in which they arise. The Company derecognizes a financial liability when its contractual obligations are discharged or canceled or expired. The Company also derecognizes a financial liability when the terms are modified, and the cash flows of the modified liability are substantially different. On derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in statements of profit or loss. iii. Offsetting of financial assets and liabilities Financial assets and liabilities are offset, and the net amount presented in the Consolidated Statement of Financial Position when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle them a net basis or realize the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the Company or the counterparty. iv. Impairment of financial assets The Company assesses on a prospective basis the expected credit loss (“ECL”) associated with its financial asset instruments carried at amortized cost, with accruals and reversals recorded in the Statement of Profit or Loss . ECLs are based on the difference between the contractual cash flows due in accordance with the contractual terms and all the cash flows that the Company expects to receive, discounted at an approximation of the original effective interest rate. The methodology applied depends on whether there has been a significant increase in credit risk. For Note 10
Inventories	c. Inventories Inventories are stated at cost or net realizable value, whichever is lower. The method of valuation of inventories is the average cost. The cost of finished goods and work in progress comprises project costs, raw materials, publishing costs (e.g., direct labor, other direct costs and the related direct production costs). Editorial costs incurred during the development phase of a new product are presented within inventories as “work in progress”, as materials are substantially revised annually. After the conclusion of its production and allocation in the line of "finished products", the sales of the product begins and any subsequent costs incurred are recognized in profit or loss as "cost of goods sold and services ", according to the accrual period on which the services are provided. The Company recognizes a provision for losses on finished products and low-handling raw materials, which are periodically analyzed and evaluated in terms of the expected realization of these inventories. If losses are not expected, the provision is reversed. Management periodically assesses whether obsolete inventories need to be destroyed. The Company also recognizes the right of return on its inventories. See Note 3.2 f
Property, Plant and Equipment	d. Property, Plant and Equipment Property, plant and equipment is stated at historical cost less accumulated depreciation. Historical cost includes the cost of acquisition. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with these costs will flow to the Company, and they can be measured reliably. The carrying amount of the replaced items or parts is derecognized. All other repairs and maintenance are charged to statement of Profit or Loss during the financial period in which they are incurred. Depreciation of assets is calculated using the straight-line method to reduce their cost to their residual values over their estimated useful lives, as follows: Years Property, buildings and leasehold improvements 5-20 IT equipment 3-10 Furniture, equipment and fittings 3-10 Right of use assets 3-15 The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. The Company did not identify changes in the useful life at December 31, 202 2 and 202 1 . Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized in statement of Profit or Loss when control of the asset is transferred. See Note 1 3 .
Business Combination	e. Business Combination Acquisitions of businesses are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at acquisition date fair value, and the amount of any non-controlling interests in the acquiree. Acquisition-related costs are expensed as incurred and included in general and administrative expenses. At the acquisition date, the identifiable assets acquired, and the liabilities assumed are recognized at their fair value at the acquisition date. Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree, and the fair value of the acquirer’s previously held equity interest in the acquiree (if any) over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. Any contingent consideration is measured at fair value at the date of acquisition. If an obligation to pay contingent consideration that meets the definition of a financial instrument is classified as equity, then it is not remeasured and settlement is accounted for within equity. Otherwise, other contingent consideration is remeasured at fair value at each reporting date and subsequent changes in the fair value of the contingent consideration are recognized in statement of profit or loss. If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, the Company reports provisional amounts for the items for which the accounting is incomplete. Those provisional amounts are adjusted during the measurement period or additional assets or liabilities are recognized, to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the amounts recognized as of that date. See Note 5
Intangible Assets and Goodwill	f. Intangible Assets and Goodwill The Company’s intangible assets are mostly comprised of software, trademarks, customer portfolio, platform content production, trade agreement, copyrights and goodwill. Those items are further described below: Goodwill Goodwill arising on the acquisition of subsidiaries is measured as set out in Note 1 4 . b. Software Computer software licenses purchased are capitalized based on the costs incurred to acquire and bring to use the specific software or to develop new functionalities to existing ones. Directly attributable costs that are capitalized as part of the software product / project include the software / project development employee costs and an appropriate portion of significant direct expenses. Other development costs and subsequent expenditures that do not meet these capitalization criteria ( e.g. maintenance and on-going operations) are recognized as an expense as incurred. Development costs previously recorded as an expense are not recognized as an asset in a subsequent period. Software recognized as assets is amortized using straight-line method over its estimated useful lives, not greater than 5 years. The Company did not identify changes in the useful life at December 31, 202 2 and 202 1 . c. Trademarks Separately acquired trademarks are initially stated at historical cost. Trademarks acquired in a business combination are recognized at fair value at the acquisition date. Subsequently, trademarks are amortized to the end of their useful lives. Amortization is calculated using the straight-line method to allocate the cost of trademarks over their estimated useful lives of 20 to 30 years . The Company did not identify changes in the useful life at December 31, 20 22 and 202 1 . d. Customer portfolio Customer portfolios acquired in a business combination are recognized at fair value at the acquisition date. The contractual customer relationship has an estimated finite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the straight-line method over the expected life of the customer relationship (from 12 to 13 years). The Company did not identify changes in the useful life at December 31, 202 2 and 202 1 . e. Platform content production Development expenditure with platform content is capitalized only if the expenditure can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable and the Company intends to and has sufficient resources to complete development and to use or sell the asset. Otherwise, it is recognized in profit or loss as incurred. Subsequent to initial recognition, development expenditure is measured at cost less accumulated amortization and any accumulated impairment losses. Amortization is calculated on the straight-line method over their estimated useful lives of 3 years. The Company did not identify changes in the useful life at December 31, 202 2 and 202 1 .
Copyrights	g. Copyrights The Company accounts for different copyright agreements as follows: i. Copyrights are paid to the authors of the content included in the textbooks produced by the Company and are calculated based on agreed upon percentages of revenue or cash inflows related to the books sold, as defined in each contract. Payments are made on a monthly, quarterly, semi-annually, annually or hybrid basis. For these contracts the authors maintain the legal title of the copyrights. These copyrights are charged to the statement of profit or loss and other comprehensive income on an accrual basis when the products are sold. ii. In some instances where the authors maintain the legal title of the copyrights, contracts require the prepayment of part or even the full down payment of forecasted sales before the authors start the production of the content. In such cases, copyrights are recognized as a “Prepayments” in the Consolidated Statement of Financial Position and charged to statements of Profit or Loss when the books are sold based on the related sales forecast. The Company reviews regularly the forecast sales to determine if an impairment is required. iii. When the Company purchases permanently the legal title of the copyright from the authors, the amounts are capitalized in “Intangible Assets and Goodwill” as “Other intangible assets” and are amortized on the straight-line method over their estimated useful lives, which are not greater than 3 years, which is the content renewal estimated timeline. The Company did not identify changes in the useful life as of December 31, 202 2 and 202 1 .
Impairment of non-financial assets	h. Impairment of non-financial assets Assets that are subject to depreciation or amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized when the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and its value in use. Assets that have an indefinite useful life, for example goodwill, are not subject to amortization and are tested annually for impairment. Goodwill impairment tests are undertaken annually or more frequently if events or changes in circumstances indicate potential impairment, at the end of each fiscal year. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable and independent cash inflows (Cash-generating units – CGU’s). For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the CGUs (or groups of CGUs) that is expected to benefit from the synergies of the combination. Non-financial assets, other than goodwill, that have been adjusted following impairment are subsequently reviewed for possible reversal of the impairment at each reporting date. The impairment of goodwill recognized in statement of profit or loss is not reversed . See Note 5
Bonds and Financing	i. Bonds and Financing The Bonds and financing are recognized initially at fair value, net of transaction costs incurred, and are subsequently carried at amortized cost. Any difference between the proceeds (net of transaction costs) and the total amount payable is recognized in consolidated profit and loss over the period of the bonds and financing using the effective interest rate method. Following initial recognition, the liability component of a compound financial instrument is measured at amortized cost using the effective interest rate method. The Bonds and financing are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve period of time to be prepared for its intended use or sale, are capitalized as part of the cost of that asset when it is probable that future economic benefits associated with the item will flow to the Company and the costs can be measured reliably. The other borrowing costs are recognized as finance costs in the period in which they are incurred. See Note 1 5 .
Suppliers (including Reverse Factoring)	j. Suppliers (including Reverse Factoring) Suppliers are obligations to pay for goods or services that have been acquired in the ordinary course of business. They are recognized initially at fair value and subsequently measured at amortized cost using the effective interest rate method. Some of the Company’s domestic suppliers sell their products with extended payment terms and may subsequently transfer their receivables due by the Company to financial institutions without right of recourse, in a transaction characterized as “Reverse Factoring”. The Company charged interest over the payment term at a rate that is commensurate with its own credit risk being subsequently recorded as finance cost using the effective interest rate method. The operation does not affect the deadlines, prices and conditions previously agreed. The suppliers specifically related to Reverse Factoring are segregated in the Note 1 6 . In addition, the effects of Reverse Factoring on Cash Flows are recognized in “Cash flow from operating activities”.
Leases	k. Leases Right-of-use assets The Company recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. The recognized right-of-use assets are depreciated on a straight-line basis over the shorter of its estimated useful life or the lease term, as most of the Company’ leases are related to property leases. ii. Lease liabilities At the commencement date of the lease, the Company recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Company and payments of penalties for terminating a lease, if the lease term reflects the Company exercising the option to terminate. The variable lease payments that do not depend on an index or a rate are recognized as expense in the period on which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Company uses the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. The accounting amount of the lease liabilities is remeasured if there is a change in the term of the lease, a change in fixed lease payments or a change in valuation to purchase the right-of-use asset. iii. Short-term leases and leases of low-value assets The Company applies the short-term lease recognition exemption to its short-term leases of properties (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of office equipment that are considered of low value. Lease payments on short-term leases and leases of low-value assets are recognized as expense on a straight-line basis over the lease. iv. Determining the lease term of contracts with renewal options The Company determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if reasonably certain to be exercised. The Company has the option, under some of its leases to lease the assets for additional terms. The Company applies judgment in evaluating whether it is reasonably certain to exercise the option to renew. That is, it considers all relevant factors that create an economic incentive for it to exercise the renewal. After the commencement date, the Company reassesses the lease term if there is a significant event or change in circumstances that is within its control and affects its ability to exercise (or not to exercise) the option to renew (e.g., a change in business strategy).
Provision for tax, civil and labor losses	l. Provision for tax, civil and labor losses The provisions for risks related to lawsuits and administrative proceedings involving tax, civil and labor matters are recognized when ( i ) the Company has a present legal or constructive obligation as a result of past events; (ii) it is probable that an outflow of resources will be required to settle the obligation; and (iii) the amount can be reliably estimated. The likelihood of loss of judicial/administrative proceedings in which the Company appears as a defendant is assessed by Management on the financial statement dates. Provisions are recorded in an amount the Company believes it is adequate to cover probable losses, being determined by the expected future cash flows to settle the obligation that reflects current risks specific to the liability. The increase in the provision due to the time elapsed is recognized as interest expense. Penalties assessed on these proceedings are recognized in general and administrative expenses when incurred. See Note 2 2 .
Current and Deferred income tax and social contribution	m. Current and Deferred income tax and social contribution Taxes comprise current and deferred Corporate Income Tax (IRPJ) and Social Contribution on Net Income (CSLL), calculated on pre-tax profit basis. IRPJ and CSLL are calculated based on the nominal statutory rates of 25% and 9%, respectively, adjusted by non-taxable/nondeductible items provided for by law. Deferred income tax and social contribution are calculated on income tax and social contribution losses and other temporary differences in relation to the balances of assets and liabilities in the Statement of Financial Position. The deferred income tax and social contribution assets are fully accounted for, except when it is not probable that assets will be recovered by future taxable income. Current and deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when current and deferred tax assets and liabilities are related to the tax levied by the same tax authority on the taxable entity where there is an intention to settle the balances on a net basis. See Note 2 3 .
Employee Benefits	n. Employee Benefits The Company has the following employee benefits: Short-term employee benefits Obligations for short-term employee benefits are recognized as personnel expenses as the related service is rendered. The liability is recognized at the amount expected to be paid, if the Company has a legal or constructive obligation to pay this amount as a result of prior service rendered by the employee, and the obligation can be reliably estimated. The Company also provides its commercial team with commissions calculated considering existing sales and revenue targets that are periodically reviewed. These amounts are accrued in “Salaries and Social contributions” on a monthly basis based on the achievements of such goals, with payments generally being made twice a year. Since commissions are paid based on the annual sales of each contract, the Company elected to use the practical expedient to expense the costs as incurred. b. Pension Contributions The Company offered a defined contribution plan to its employees and once the contributions have been made, the Company has no additional payment obligation, and the costs are therefore recognized in the month in which the contribution is incurred ( i.e employees have rendered services entitling them to the right to receive those benefits), which is consistent with recognition of payroll expenses in statement of Profit or Loss. c. Share-based Payments The Company compensates part of its Management and some employees through share-based compensation by plans involving Restricted Share Units or “RSU”. The RSU plans are based on Company shares, through a fixed share price (market price) determined on the grant date which the Company has the obligation of delivering shares without cash settled payment. The Share based payment is divided in the following: ( i ) L ong Term Investment – “ILP” – Refers to RSU plans for which some Company management and employees are eligible. In those plans the Company will deliver a fixed number of shares at a fixed share price measured at the Plan’s inception. The Company recognizes the expense and inherent labor taxes related to the RSU plan in profit and loss. In addition, the effects of the constructive obligation are recognized in statement of financial position under the share-based compensation reserve in equity and the corresponding taxes under “Salaries and Contributions”. 2 4 d. Termination benefits Termination benefits are payable when employment is terminated by the Company before the normal retirement date, or whenever an employee accepts voluntary resignation in exchange for these benefits. The Company recognizes termination benefits at the earlier of the following dates: ( i ) when the Company can no longer withdraw the offer of those benefits; and (ii) when the entity recognizes costs for a restructuring and involves the payment of termination benefits. In the case of an offer made to encourage voluntary redundancy, the termination benefits are measured based on the number of employees expected to accept the offer. Benefits falling due more than 12
Shareholders' Equity	o. Shareholders’ Equity Until July 23, 2020 the Company presented its financial statement based on the combined carve-out, where the capital reserves were not presented, and all effects were recorded in Parent Company’s Net Investment. As a consequence of the restructuring completed on July 23, 2020, the Company presented its consolidated financial statements considering a new basis of preparation where the share capital, capital reserve and accumulated losses were disclosed. Since July 1, 2020, amounts previously recorded in Parent Company’s net investment in Equity have been recorded as net income and portions were reclassified to share capital and capital reserve. ii. Share Capital On December 31, 202 2 and 2021 the Company’s share capital was R$ 4,820,815, divided into 82,649,887 shares of which 64,436,093 are Class B shares held by Cogna Group and 18,213,794 are Class A common shares held by others. iii. Capital reserve The breakdown of capital reserves is arising from share-based payment in the amount of R$ 80,531 on December 31, 2022 , and R$61,488 on December 31,2021 . S ee Note 2 4 . iv. Treasury shares On December 31, 202 2 and 2021 , the Company holds shares in treasury in the amount of R$ 23,880, corresponding to 1,000,000 shares, see Note 2 4 .
Revenue Recognition	p. Revenue Recognition The Company generates most of its revenue from the sale of textbooks (“publishing” when sold as standalone products or “PAR” when bundled as an educational platform) and learning systems in printed and digital formats to private schools through short-term transactions or term contracts with an average period from three five years Contents in printed and digital formats related to these textbooks and learnings systems are mostly the same, with minor supplements presented in digital format only. Therefore, revenue from educational contents is recognized when the Company delivers the content in printed and digital format. The Company also sells its products directly to students and parents through its e-commerce platform. Since the Company obtains control of the goods sold before they are transferred to its customers, the Company assessed the principal versus agent relationship and determined that it is a principal in the transaction. Therefore, revenue is recognized in a gross amount of consideration to which the Company is entitled in exchange for the specified goods transferred. Pursuant to the terms of the contracts with some customers, they are required to provide the Company with an estimate of the number of students that will access the content in the next school year (which typically starts in February of the following year), allowing the Company to start the delivery of its products. Since the contracts allow product returns (generally for period of four months past experience , assuming that the other conditions for revenue recognition are met. Therefore, the amount of revenue recognized is adjusted for expected returns, which are estimated based on historical data on a portfolio basis. In these circumstances a contractual obligation and a right to recover returned goods asset are recognized. The right to recover returned goods asset is measured at the former carrying amount of the inventory less any expected costs to recover the goods. The refund liability on the return received is included in Contractual Obligations and Deferred Income and the right to recover returned goods is included in Inventories. The Company reviews its estimate of expected returns at each reporting date and updates the amounts of the asset and liability accordingly. The Company also provides other types of complementary educational solutions, preparatory courses for university admission exams, digital services and other services to private schools, such as: teacher training, educators and parenting support, extracurricular educational content and other services related to the management of private schools. Each complementary educational service, digital service and others are deemed to be separate performance obligations. Thus, revenue is recognized over time when the services are rendered ( i.e. output method) to the customer. The Company believes this is an appropriate measure of progress toward satisfaction of performance obligations as it is the most accurate measure of the consideration to which the Company expects to be entitled in exchange for the services. These services may be sold on a standalone basis or bundled within publishing and learning system contracts and when bundled, each performance obligation is recognized separately. Service revenue is presented net of the corresponding discounts, returns and taxes. See Note 2 5 .
Taxes on Revenues	q. Taxes on Revenues The Company and its associates benefit from tax Law No. 10,865 04 11,033 04 Programa de Integração Social, or PIS) and the social contributions on revenue tax ( Contribuição para o Financiamento da Seguridade Social, or COFINS). The sale of books is also exempt by the Brazilian constitution from Brazilian municipal taxes, Brazilian services tax ( Imposto Sobre Serviços , or ISS) and from the Brazilian tax on the circulation of goods, interstate and intercity transportation and communication services ( Imposto sobre Operações relativas à Circulação de Mercadorias e sobre Prestações de Services de Transporte Interestadual e Intermunicipal e de Comunicação , or ICMS). Tax exemption available to physical books have been extended to digital books based on a decision by the Brazilian Supreme Court rendered on March 8, 2017. The services revenues are subject to PIS and COFINS under the non-cumulative tax regime (with a nominal statutory rate of 9.25%), as well as municipality service taxes ( Impostos sobre Serviços , or ISS) for which a statutory rate of 5% is applicable.
Fair Value Measurement	r. Fair Value Measurement Fair value is the price that would be received upon the sale of an asset or paid for the transfer of a liability in an orderly transaction between market participants at the measurement date, on the primary market or, in the absence thereof, on the most advantageous market to which the Business has access on such date. The fair value of a liability reflects its risk of non-performance, which includes, among others, the Company’s own credit risk. If there is no price quoted on an active market, the Company uses valuation techniques that maximize the use of relevant observable data and minimize the use of unobservable data. The chosen valuation technique incorporates all the factors market participants would consider when pricing a transaction. If an asset or a liability measured at fair value has a purchase and a selling price, the Company measures the assets based on purchase prices and liabilities based on selling prices. A market is considered as active if the transactions for the asset or liability take place with enough frequency and volume to provide pricing information on an ongoing basis. The best evidence of the fair value of a financial instrument upon initial recognition is usually the transaction price - i.e., the fair value of the consideration given or received. If the Company determines that the fair value upon initial recognition differs from the transaction price and the fair value is not evidenced by either a price quoted on an active market for an identical asset or liability or based on a valuation technique for which any non-observable data are judged to be insignificant in relation to measurement, then the financial instrument is initially measured at fair value, adjusted to defer the difference between the fair value upon initial recognition and the transaction price. This difference is subsequently recognized in Profit or Loss on an appropriate basis over the life of the instrument, or until such time when its valuation is fully supported by observable market data or the transaction is closed, whichever comes first. To provide an indication of the reliability of the inputs used in determining fair value, the Company has classified its financial instruments according to the judgements and estimates of the observable data as much as possible. The fair value hierarchy is based on the degree to which the fair value used in the valuation techniques is observable, as follows: • Level 1 • Level 2 1 • Level 3

The Company and Basis of Pres_2

The Company and Basis of Presentation (Tables)	12 Months Ended
	Dec. 31, 2022
The Company and Basis of Presentation
Schedule of significant investments in subsidiaries	The Consolidated Financial Statements comprise the following entities, which are all fully owned by the Company: Company Interest December 31, 2022 December 31, 2021 Somos Sistemas de Ensino S.A ("Somos Sistemas") 100% 100% Livraria Livro Fácil Ltda. ("Livro Fácil") 100% 100% A & R Comercio e Serviços de Informática Ltda. (“Pluri”) 100% 100% Mind Makers Editora Educacional (“Mind Makers”) (i) - 100% Colégio Anglo São Paulo 100% 100% Phidelis Tecnologia Desenvolvimento de Sistemas Ltda. (“Phidelis”) 100% - MVP Consultoria e Sistemas Ltda. (“MVP”) 100% - Meritt Informação Educacional Ltda (“Meritt”) (i) - 100% Sociedade Educacional da Lagoa Ltda (“SEL”) 100% 100% Nota 1000 1000 - 100% EMME – Produções de Materiais em Multimídia Ltda (“EMME”). 100% 100% Editora De Gouges S.A ("De Gouges") (i) - 100% (i) Entities that were merged during the fiscal year ended December 31,2022

Basis of preparation and pres_2

Basis of preparation and presentation of Consolidated Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2022
Basis of preparation and presentation of Consolidated Financial Statements
Schedule of entities, which are all controlled by the Company	Company Interest December 31, 2022 December 31, 2021 Somos Sistemas de Ensino S.A. 100% 100% Livraria Livro Fácil Ltda. ("Livro Fácil") 100% 100% A & R Comercio e Serviços de Informática Ltda. (“Pluri”) 100% 100% Mind Makers Editora Educacional (“Mind Makers”) - 100% Colégio Anglo São Paulo 100% 100% Phidelis Tecnologia Desenvolvimento de Sistemas Ltda. (“Phidelis”) 100% - MVP Consultoria e Sistemas Ltda. (“MVP”) 100% - Meritt Informação Educacional Ltda (“Meritt”) - 100% Sociedade Educacional da Lagoa Ltda (“SEL”) 100% 100% Nota 1000 1000 - 100% EMME – Produções de Materiais em Multimídia Ltda (“EMME”). 100% 100% Editora De Gouges S.A ("De Gouges") - 100%

Significant accounting polici_3

Significant accounting policies and new and not yet effective accounting standards (Tables)	12 Months Ended
	Dec. 31, 2022
New accounting policies and significant accounting policies adopted
Schedule of estimated useful lives of property, plant and equipment	Years Property, buildings and leasehold improvements 5-20 IT equipment 3-10 Furniture, equipment and fittings 3-10 Right of use assets 3-15

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2022
Business Combinations
Schedule of assets and liabilities acquired for business combination	Phidelis MVP Total Current assets Cash and cash equivalents 162 217 379 Trade receivables 65 131 196 Taxes recoverable 1 4 5 Total current assets 228 352 580 Non-current assets Property, plant and equipment - 72 72 Intangible assets - Customer Portfolio 1,521 2,313 3,834 Intangible assets - Software 523 2,702 3,225 Total non-current assets 2,044 5,087 7,131 Total Assets 2,272 5,439 7,711 Current liabilities Salaries and social contributions 58 4 62 Taxes payable - 10 10 Income tax and social contribution payable - 80 80 Other liabilities - 12 12 Total current liabilities 58 106 164 Non-current liabilities Provision for tax, civil and labor losses - 2,504 2,504 Total non-current liabilities - 2,504 2,504 Total liabilities 58 2,610 2,668 Net identifiable assets at fair value (A) 2,214 2,829 5,043 Total Consideration transferred (B) 3,600 18,366 21,966 Goodwill (B – A) (i) 1,386 15,537 16,923
Business combinations
Business Combinations
Schedule of assets and liabilities acquired for business combination	SEL Redação Nota 1000 EMME De Gouges Total Current assets Cash and cash equivalents 1,461 525 637 16,439 19,062 Trade receivables (vi) - 1,327 1,082 18,190 20,599 Inventories (iv) - - - 4,534 4,534 Prepayments - - 14 83 97 Taxes recoverable - - 9 1,947 1,956 Other receivables 180 - - 12 192 Total current assets 1,641 1,852 1,742 41,205 46,440 Non-current assets Property, plant and equipment 611 - 128 1,272 2,011 Other intangible assets - 1,099 1 38 1,138 Intangible assets - Customer Portfolio (ii) 18,783 - - 64,806 83,589 Intangible assets - Trade agreement (iii) - - - 247,622 247,622 Intangible assets - Software (v) 1,296 5,692 4,048 - 11,036 Total non-current assets 20,690 6,791 4,177 313,738 345,396 Total Assets 22,331 8,643 5,919 354,943 391,836 Current liabilities Suppliers - 180 13 1,107 1,300 Salaries and social contributions 1 124 600 2,871 3,596 Taxes payable 17 207 102 - 326 Income tax and social contribution payable 33 - - 5,232 5,265 Provision for trade discount - - - 15,000 15,000 Other liabilities - 1,673 2 25 1,700 Total current liabilities 51 2,184 717 24,235 27,187 Non-current liabilities Provision for tax, civil and labor losses - - - 1,231 1,231 Provision for trade discount - - - 47,234 47,234 Total non-current liabilities - - - 48,465 48,465 Total liabilities 51 2,184 717 72,700 75,652 Net identifiable assets at fair value (A) 22,280 6,459 5,202 282,243 316,184 Total Consideration transferred (B) 65,000 11,387 15,317 611,554 703,258 Goodwill (B – A) (i) 42,720 4,928 10,115 329,311 387,074 ( i ) Goodwill is recognized based on expected synergies from combining the operations of the acquirees and of the acquiror, as well as an expected increase in the Company’s market-share due to the penetration of the Company’s products and services in regions where the Company did not operate before. Also, the current tax law allows the deductibility of the acquisition date goodwill and fair value of net assets acquired when a non-substantive action is taken after acquisition by the Company ( i.e. when the Company merges or spins off the companies acquired) and therefore the tax and accounting bases of the net assets acquired are the same as of the acquisition date. (ii) As a result of purchase price allocation, the Company identified R$ 18,783 64,806 8 14 . (iii) As a result of the purchase price allocation, the Company identified R$ 247,622, a commercial agreement (“Eleva Holding”), which corresponds to the sale of teaching material from "De Gouges" to partner schools of "Eleva Holding" within 10 years, with an estimated sales rate of 10 % per year. (iv) As a result of the purchase price allocation, the Company identified R$ 4,534 33 (v) As a result of purchase price allocation, the Company identified R$ 11,036 Education System “Redação Nota 1000 14 (vi) Accounts receivable from customers comprise gross contractual amounts due of R$ 24,344 3,746 10

Financial Risk Management (Tabl

Financial Risk Management (Tables)	12 Months Ended
	Dec. 31, 2022
Financial Risk Management
Schedule of Interest rates contracted	December 31, 2022 December 31, 2021 Interest rate Bonds Private Bonds – 6 th – series 2 53,688 104,844 CDI + 1.00% p.a. Private Bonds – 6 th – series 2 - 210,920 CDI + 1.70% p.a. Private Bonds – 9 th – series 2 259,843 - CDI + 2.40% p.a. Bonds – 1 st 529,465 514,574 CDI + 2.30% p.a. Financing and Lease Liabilities - Mind Makers - 888 TJPLP + 5% p.a. Financing and Lease Liabilities 140,563 160,542 IPCA Accounts Payable for Business Combination and acquisition of associates 625,277 532,313 100% CDI 1,608,836 1,524,081
Schedule of financial liabilities by maturity ranges	December 31, 2022 Less than one Between one two Over two Total Bonds and financing (Note 15 93,779 499,217 250,000 842,996 Lease Liabilities (Note 17 23,151 22,921 94,491 140,563 Accounts Payable for business combination and acquisition of associates (Note 19 73,007 389,186 163,084 625,277 Suppliers (Note 16 250,647 - - 250,647 Reverse Factoring (Note 16 155,469 - - 155,469 Other liabilities - related parties (Note 21 54 - - 54 596,107 911,324 507,575 2,015,006
Schedule of financial liabilities by maturity ranges for estimated amounts payable based on undiscounted contractual amounts	December 31, 2022 Less than one Between one two Over two Total Bonds and financing 105,436 561,270 281,075 947,781 Lease Liabilities 26,029 25,770 106,236 158,035 Accounts Payable for business combination and acquisition of associates 82,082 437,562 183,355 702,999 Suppliers 281,802 - - 281,802 Reverse Factoring 174,794 - - 174,794 Other liabilities - related parties 61 - - 61 670,204 1,024,602 570,666 2,265,472
Schedule of calculation of gearing ratio	December 31, 2022 December 31, 2021 Net debt (i) 1,969,241 1,518,247 Total shareholders' equity 4,629,679 4,665,209 Total capitalization (ii) 2,660,438 3,146,963 Gearing ratio - % - (iii) 74 % 48 % (i) Net debt comprises financial liabilities (note 7 (ii) Refers to the difference between Shareholders’ Equity and Net debt. (iii) The Gearing Ratio is calculated based on Net Debt/Total Capitalization.
Schedule of sensitivity analysis of potential losses from financial instruments	Index - % per year Balance as of December 31, 2022 Base scenario Scenario I Scenario II Financial Investments 103.40% of CDI 39,212 4,874 6,093 7,311 Marketable Securities 103.39% CDI 380,514 47,298 59,122 70,947 419,726 52,172 65,215 78,258 Accounts Payable for Business Combination and acquisition of associates 100% of CDI (625,277 ) (77,722 ) (97,152 ) (116,583 ) Lease liabilities CDI + 1.28% (140,563 ) (17,472 ) (21,840 ) (26,208 ) Bonds and financing CDI + 1.66% (842,996 ) (104,784 ) (130,981 ) (157,177 ) (1,608,836 ) (199,978 ) (249,973 ) (299,968 ) Net exposure (1,189,110 ) (147,806 ) (184,758 ) (221,710 ) Interest rate -% p.a - - 12.43 % 15.54 % 18.65 % Stressing scenarios - - - 25 % 50 %

Financial Instruments by Cate_2

Financial Instruments by Category (Tables)	12 Months Ended
	Dec. 31, 2022
Financial Instruments by Category
Schedule of financial instruments by category	The Company holds the following financial instruments: Hierarchy December 31, 2022 December 31, 2021 Assets - Amortized cost Cash and cash equivalents 45,765 309,893 Marketable securities - 166,349 Trade receivables 649,135 505,514 Other receivables 972 2,105 Related parties – other receivables 1,759 501 697,631 984,362 Assets - Fair value through profit or loss Marketable securities 1 380,514 - Other investments and interests in entities 8,272 - 388,786 - Liabilities - Amortized cost Bonds and financing 842,996 831,226 Lease liabilities 140,563 160,542 Reverse factoring 155,469 97,619 Suppliers 250,647 167,168 Accounts payable for business combination and acquisition of associates 569,360 497,187 Accounts payable for business combination and acquisition of associates (i) 3 55,917 35,126 Other liabilities - related parties 54 39,271 2,015,006 1,828,139 i) Refers to a portion of the liability remeasured based on economic activity of the acquired entity (post-closing price adjustments).
Schedule of valuation techniques and significant unobservable inputs	The following table shows the valuation techniques used in measuring level 3 Entities Valuation technique Significant unobservable inputs Inter-relationship between key unobservable inputs and fair value measurement Phidelis Discounted cash flows: The valuation model considers the present value of the net cash flows expected to be generated by the operation (net revenue). 1. The achievement of financial targets are linked to net revenue of the years 2023 and 2024. 2.Revenue: we consider for the revenue projection the continuity of old contracts and new contracts with average annual revenue growth of 21.1%. The estimated fair value would increase (decrease) if: - Any product is no longer monetized (lower) - The risk-adjusted discount rates were lower (higher) SEL Discounted cash flows: The valuation model considers the present value of the net cash flows expected to be generated by the operation (net revenue). 1. Renewal, in writing, to the year 2023 and 2024, of the Structured Teaching Program Contract; or 2. Entering a new contract, in writing, with SESI effective for the year 2024, with or without the need for bidding, so that the Buyer continues to provide in the year of 2024 services to SESI, according to the specific scope to be defined by SESI (“Renovation Structured Teaching Program 2024”). The estimated fair value would increase (decrease) if: - No contract renewal (lower) Redação Nota 1000 Discounted cash flows: The valuation model considers the present value of the net cash flows expected to be generated by the operation (net revenue). 1. Net Revenue Target 2023: R$3,952 2. (i) 2023 Net Revenue equal to or greater than R$3,952 so = 100%, (ii) 2023 Net Revenue equal to or greater than R$2,799 and less than R$3,952 so 70%, (iii) 2023 Net Revenue equal to or greater than R$ 2,659 and less than R$2,799 so 60%, (iv) 2023 Net Revenue equal to or greater than R$2,379 and less than R$2,659 so, 40%, and (v) Net Revenue less than R$2,379 so 0%. Not applicable. Educbank Discounted cash flows: The valuation model considers the present value of the net cash flows expected to be generated by the operation (students enrolled). 1. Reaching 25,000 new students effectively hired, as determined after issuing bank slips, in relation to the Company's services 2. Reaching 37,000 new students effectively hired, as determined after issuing bank slips, in relation to the Company's services. The estimated fair value would increase (decrease) if: - Not applicable.

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	12 Months Ended
	Dec. 31, 2022
Cash and cash equivalents.
Schedule of cash and cash equivalents	December 31, 2022 December 31, 2021 Cash 7 100 Bank account 6,546 17,772 Financial investments (i) 39,212 292,021 45,765 309,893 ( i ) The Company invests in short-term fixed income investment funds with daily liquidity and no material risk of change in value. Financial investments presented an average gross yield of 103 % of the annual CDI rate on December 31, 2022 (105.2 % on December 31, 202 1 ). All investments are highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value and correspond to the cash obligations for the period.

Marketable securities (Tables)

Marketable securities (Tables)	12 Months Ended
	Dec. 31, 2022
Marketable securities
Schedule of marketable securities	Credit Risk December 31, 2022 December 31, 2021 Financial bills (LF) AAA - 1,640 Financial treasury bills (LFT) AAA - 164,709 Private investment fund AAA 31,842 - Private investment fund AA 348,672 - 380,514 166,349

Trade receivables (Tables)

Trade receivables (Tables)	12 Months Ended
	Dec. 31, 2022
Trade receivables
Schedule of trade receivables	December 31, 2022 December 31, 2021 Trade receivables 711,439 505,190 Related Parties (Note 21 7,177 46,824 ( - ) Impairment losses on trade receivables (69,481 ) (46,500 ) 649,135 505,514
Schedule of maturities of trade receivables	December 31, 2022 December 31, 2021 Not yet due 563,005 417,233 Past due Up to 30 19,435 9,657 From 31 60 22,637 10,331 From 61 90 12,193 7,366 From 91 180 42,169 21,154 From 181 360 31,357 23,852 Over 360 20,643 15,597 Total past due 148,434 87,957 Related parties (note 21 7,177 46,824 Impairment losses on trade receivables (69,481 ) (46,500 ) 649,135 505,514
Schedule of expected credit losses for aging	December 31, 2022 December 31, 2021 Expected credit loss rate (%) Lifetime ECL (R$) Expected credit loss rate (%) Lifetime ECL (R$) Not yet due 1.52% 8,970 0.30% 1,263 Past due Up to 30 9.53% 2,072 12.67% 1,219 From 31 60 14.09% 2,728 17.01% 1,769 From 61 90 19.87% 2,335 23.75% 1,764 From 91 180 29.66% 10,096 35.71% 7,608 From 181 360 48.35% 12,465 72.90% 17,399 Over 360 76.40% 15,434 99.23% 15,478 Total past due 54,100 46,500 Customers in judicial recovery (i) 100% 15,381 100% - (-) Impairment losses on trade receivables 69,481 46,500 (i) On December 31, 2022 the Company’s Management recorded R$15 million in provision for expected credit loss relating to the entirely of Vasta’s receivable for products in inventory of a large retail company in judicial recovery. The Company did not identify customers in judicial recovery as of December 31, 2021.
Schedule of changes in impairment losses on trade receivables	December 31, 2022 December 31, 2021 December 31, 2020 Opening balance 46,500 32,055 22,524 Additions 45,904 39,326 29,870 Reversals (288 ) (2,854 ) (4,855 ) Write offs (i) (22,635 ) (22,027 ) (15,484 ) Closing balance 69,481 46,500 32,055 (i) The Company assessed its customers credit lines, on a regular basis. Due to historical losses and lack of prospects of credit recovery alongside these customers, the Company recognized R$ 22,635 as write-off as of December 31, 2022 (R$ 22,027 as of December 31, 2021).

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2022
Inventories
Schedule of inventories	December 31, 2022 December 31, 2021 Finished products (i) 160,519 160,318 Work in process 73,993 51,152 Raw materials 30,773 27,081 Imports in progress 347 1,681 Right to returned goods (ii) 818 2,131 266,450 242,363 (i) These amounts are net of slow-moving items and net realizable value. (ii) Represents the Company’s right to recover products from customers when customers exercise their right of return under the Company’s returns policies, where the Company estimates the volume of goods returned based on experience and foreseen expectations.
Schedule of changes in provision for inventories	December 31, 2022 December 31, 2021 December 31, 2020 Opening balance 58,723 62,210 69,080 Additions 46,138 24,178 8,783 (Reversals) (5,214 ) (2,061 ) (4,726 ) Inventory losses (i) (15,598 ) (25,604 ) (10,927 ) Closing balance 84,049 58,723 62,210 (i) Refers substantially to physical books destroyed, previously provisioned, due to indication of damage or obsolescence caused by changes in the educational content during the school year.

Equity accounted investees (Tab

Equity accounted investees (Tables)	12 Months Ended
	Dec. 31, 2022
Equity accounted investees
Schedule of composition of investments	a) Composition of investments Investment type Interest % Investment Fair value Goodwill December 31, 2022 Educbank Associate 45% 41,485 7,868 33,786 83,139 41,485 7,868 33,786 83,139
Schedule of investments without control and significant influence	b) Investments without control and significant influence EducBank As of December 31, 2021 - Acquisition 87,651 Equity method (4,512 ) As of December 31,2022 83,139

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment
Schedule of property, plant and equipment	December 31, 2022 December 31, 2021 Weighted average depreciation rate Cost Accumulated depreciation Net book value Cost Accumulated depreciation Net book value IT equipment 10% - 33% 80,262 (43,294 ) 36,968 44,181 (27,565 ) 16,615 Furniture, equipment and fittings 10% - 33% 60,920 (36,818 ) 24,102 38,116 (29,726 ) 8,390 Property, buildings and improvements 5%-20% 53,027 (40,381 ) 12,646 54,508 (36,636 ) 17,872 In progress - 4,494 - 4,494 677 - 677 Right of use assets 6%-33% 257,034 (137,948 ) 119,086 251,694 (109,957 ) 141,737 Land - 391 - 391 391 - 391 Total 456,128 (258,441 ) 197,688 389,567 (203,885 ) 185,682
Schedule of changes in property, plant and equipment	Changes in property, plant and equipment are as follows: IT equipment Furniture, equipment and fittings Property, buildings and improvements In progress Right of use assets (i) Land Total As of December 31, 2021 16,615 8,390 17,872 677 141,737 391 185,682 Additions 35,086 21,571 657 3,829 12,002 - 73,145 Additions through business combinations 54 12 - 6 - - 72 Disposals / Cancelled contracts - (6 ) - (18 ) (3,796 ) - (3,820 ) Depreciation (15,727 ) (5,379 ) (5,428 ) - (30,857 ) - (57,391 ) Transfers 941 (486 ) (455 ) - - - - As of December 31, 2022 36,968 24,102 12,646 4,494 119,086 391 197,688 (i) Refers to recognition of new lease agreements of R$ 12,002 which the Company considers as part of its digital learning solutions through computer tablets that have been part of current learning system solutions. See the corresponding lease liabilities in Note 17 IT equipment Furniture, equipment and fittings Property, buildings and improvements In progress Right of use assets Land Total As of December 31, 2020 1,479 9,908 19,978 315 159,873 453 192,006 Additions (i) 16,105 1,028 597 2,732 25,513 - 45,975 Additions through business combinations 1,041 835 135 - - - 2,011 Renegotiation (ii) - - - - (12,439 ) - (12,439 ) Disposals / Cancelled contracts - (124 ) - - (3,286 ) - (3,410 ) Depreciation (2,010 ) (3,319 ) (5,208 ) - (27,924 ) - (38,461 ) Transfers - 62 2,370 (2,370 ) - (62 ) - As of December 31, 2021 16,615 8,390 17,872 677 141,737 391 185,682 (i) Refers substantially to recognition of new lease agreements of R$ 25,513 which the Company considers as part of its digital learning solutions through computer tablets that have been part of current learning system solutions. See the corresponding lease liabilities in Note 17 (ii) The Company returned part of the São José dos Campos warehouse to the lessor in September 2021, maintaining the lease agreement and term, changing only in the subsequent lease installments leading to the reversal adjustments of the right-of-use asset and corresponding lease liabilities.

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	12 Months Ended
	Dec. 31, 2022
Intangible Assets and Goodwill
Schedule of intangible assets and goodwill	December 31, 2022 December 31, 2021 Weighted average amortization rate Cost Accumulated amortization Net book value Cost Accumulated amortization Net book value Software 20% 263,433 (182,711 ) 80,722 247,326 (151,281 ) 96,045 Customer Portfolio 8% 1,201,074 (377,891 ) 823,183 1,197,381 (275,276 ) 922,105 Trademarks 5% 631,582 (112,967 ) 518,615 632,016 (85,658 ) 546,358 Trade Agreement 8% 247,622 (28,795 ) 218,827 247,622 (4,127 ) 243,495 Platform content production 33% 123,251 (74,881 ) 48,370 73,877 (49,583 ) 24,294 Other Intangible assets 33% 39,422 (32,142 ) 7,280 39,421 (32,140 ) 7,281 In progress 18,958 - 18,958 3,991 - 3,991 Goodwill 3,711,721 - 3,711,721 3,694,798 - 3,694,798 6,237,063 (809,387 ) 5,427,676 6,136,432 (598,065 ) 5,538,367
Schedule of changes in intangible assets and goodwill	Software Customer Portfolio Trademarks Trade Agreement Platform content production Other Intangible assets In progress Goodwill Total As of December 31, 2021 (i) 96,045 922,105 546,358 243,495 24,294 7,281 3,991 3,694,798 5,538,367 Additions 12,881 - - - 62,722 17 14,967 - 90,587 Additions through business combinations 3,225 3,833 - - - - - 16,923 23,981 Disposals - (140 ) ( 434 ) - ( 13,348 ) (15 ) - - ( 13,937 ) Amortization (31,430 ) (102,615 ) (27,309 ) (24,668 ) (25,298 ) ( 3 ) - - (211,323 ) As of December 31, 2022 80,722 823,183 518,615 218,827 48,370 7,280 18,958 3,711,721 5,427,676 (i) Considers the review of goodwill and intangibles assets of the acquisition of EMME and Redação Nota Mil, acquired during the year 2021. Software Customer Portfolio Trademarks Trade Agreement Platform content production (i) Other intangible assets In progress Goodwill (ii) Total As of December 31, 2020 83,414 928,858 573,586 - 23,821 6,243 999 3,307,805 4,924,726 Additions 25,560 - - - 20,808 39 9,509 - 55,916 Additions through business combinations 11,036 83,589 - 247,622 - 1,099 - 387,074 730,419 Amortization (30,482 ) (90,342 ) (27,309 ) (4,127 ) (20,335 ) (100 ) - - (172,695 ) Transfers 6,517 - - - - - (6,517 ) - - As of December 31, 2021 96,045 922,105 546,277 243,495 24,294 7,281 3,991 3,694,879 5,538,367 (i) Substantially refers to development of the projects related to Plurall Platform. The Company has invested in changes in its digital platform that include “Plurall Digital Transformation” in the amount of R$ 20,808 million, and project related to learning systems, in the amount of R$ 9,509 million. (ii) The Company recognized R$ 387,074 Nota 1000 5
Schedule of goodwill allocated to each CGU	December 31, 2022 December 31, 2021 Content and Edtech Platform 3,674,034 3,674,036 Digital Platform 37,687 20,843 3,711,721 3,694,879
Schedule of key assumptions used for value-in-use calculations	2022 2021 Content and EdTech Platform Digital Platform Content and EdTech Platform Digital Platform Growth rate - % 13.70 % 12.5 % 14.40 % 9.7 % Discount rate - % 12.10 % 12.10 % 10.81 % 10.81 % Growth rate (%) in perpetuity 4.7 % 4.7 % 5.8 % 5.8 % Years projected 8 8 8 8

Bonds and financing (Tables)

Bonds and financing (Tables)	12 Months Ended
	Dec. 31, 2022
Bonds and financing
Schedule of bonds and financing	The balance of bonds and financing comprises the following amounts: December 31, 2021 Additions (i) Payment of interest (ii) Payment of principal (ii) Interest accrued Transaction cost of bonds Transfers December 31, 2022 Bonds with Related Parties 264,673 - (33,921 ) (254,885 ) 36,573 - 50,885 63,325 Bonds 16,581 - (58,425 ) - 72,298 1,018 (1,018 ) 30,454 Financing 237 - (154 ) (759 ) 25 - 651 - Current liabilities 281,491 - (92,500 ) (255,644 ) 108,896 1,018 50,518 93,779 Bonds with Related Parties 51,091 250,000 - - - - (50,885 ) 250,206 Bonds 497,993 - - - - - 1,018 499,011 Financing 651 - - - - - (651 ) - Non-current liabilities 549,735 250,000 - - - - (50,518 ) 749,217 Total 831,226 250,000 (92,500 ) (255,644 ) 108,896 1,018 - 842,996 (i) On September 28, 2022, the Company issued simple debentures not convertible into shares, subject to remunerative interest of 100% of the CDI , plus a spread of 2.40 % per year, in the total amount of R$ 250,000 . The debentures aim to strengthen the Company's capital structure and lengthen the maturity profile of the debt, whose average term has become 37 months . (ii) We present below the composition of interest and principal payments considering the issues made: December 31, 2020 Additions (ii) Payment of interest (i) Payment of principal (i) Interest accrued Transaction cost of bonds Transfers December 31, 2021 Bonds with related parties 502,743 - (24,873 ) (477,564 ) 25,859 - 238,509 264,673 Bonds - - - - 17,574 (993 ) - 16,581 Financing 139 - (49 ) (177 ) 116 - 208 237 Current liabilities 502,882 - (24,922 ) (477,741 ) 43,549 (993 ) 238,717 281,491 Bonds with related parties(i) 289,600 - - - - - (238,509 ) 51,091 Bonds - 500,000 - - - (2,007 ) - 497,993 Financing 859 - - - - - (208 ) 651 Non-current liabilities 290,459 500,000 - - - (2,007 ) (238,717 ) 549,735 Total 793,341 500,000 (24,922 ) (477,741 ) 43,549 (3,000 ) - 831,226 (i) On March 15, 2021, the Company, substantially settled bonds with related parties amounting to R$ 100,000 and R$ 1,488 , in principal and interest, respectively as follows: 5 th Issuance, 1 st series – R$ 101,488 . In addition, the Company settled only interest on the following bonds: 5 th Issuance, 2 nd series – R$ 1,451 , 6 th Issuance, 2 nd series – R$ 3,613 and 7 th Issuance, single series – R$ 5,663 . This measure is part of a commitment with shareholders as a result of the IPO. On May 31, 2021, the Company partially settled bonds with related parties amounting to R$ 188,000 , of principal of the 7 th issuance single series. On August 6, 2021, the Company settled the remaining 7 th 189,564 and R$ 5,871 , as principal and interest. In addition, the Company settled only interest on the following bonds: 5 th Issuance, 2 nd series – R$ 2,029 and 6 th Issuance, 2 nd series – R$ 4,758 . Regarding the financing with Banco de de Minas SA - BDMG, the Company pays monthly the amount of R$ 15 and R$ 4 , respectively, of principal and interest, totaling on December 31, 2021 an amount of R$ 177 and R$ 49 , respectively, of principal and interest (ii) On August 6, 2021, the subsidiary de S.A. issued R$ 500 million in simple debentures not convertible into shares, subject to compensatory interest of 100% of DI Interest Deposit rate (CDI) , plus spread of 2.30 % per year. The debentures are aimed at reinforcing the Company’s capital structure and elongating the debt maturity profile, which average maturity now stands at 35 months .
Schedule of composition of interest and principal payments of bonds and financing	Emission Payments Interest Principal SSED 21 6 2 02/15/2022 and 08/11/2022 (10,792 ) (50,885 ) SEDU 21 7 2 02/15/2022 and 08/11/2022 (23,129 ) (204,000 ) GAGL 11 02/07/2022 and 08/05/2022 (58,425 ) - Financing 06/22/2022 (154 ) (759 ) Total (92,500 ) (255,644 )
Schedule of bonds' description	Subscriber Related Parties Related Parties Third parties Issuance 5 9 1 Series 2 nd 2 nd Single Series Date of issuance 08/15/2018 09/28/2022 08/06/2021 Maturity Date 08/15/2023 09/28/2025 08/05/2024 First payment after 60 months 36 months 35 months Remuneration payment Semi-annual interest Semi-annual interest Semi-annual interest Financials charges CDI + 1.00% p.a. CDI + 2.40% p.a. CDI + 2.30% p.a. Principal amount (in millions of R$) 100 250 500
Schedule of bonds and financing maturities	Maturity of installments December 31, 2022 % December 31, 2021 % 2023 93,779 11.1 281,491 33.9 2024 499,217 59.2 51,063 6.1 2025 250,000 29.7 498,672 60.0 Total non-current liabilities 749,217 88.9 549,735 66.1 842,996 100.0 831,226 100.0

Suppliers (Tables)

Suppliers (Tables)	12 Months Ended
	Dec. 31, 2022
Suppliers
Schedule of trade suppliers	December 31, 2022 December 31, 2021 Local suppliers 215,593 132,124 Related parties (note 21 13,781 19,534 Copyright 21,273 15,510 250,647 167,168 Reverse Factoring (i) 155,469 97,619 (i) As of December 31, 2022, the balance of reverse factoring was R$ 155,469 (R$ 97,619 as of December 31, 2021), and the discount rates of assignment operations carried out by our suppliers with financial institutions had a weighted average of 1.27% per month (as of December 31, 2021, the weighted average was 1.05% per month) and a maximum payment term of 360 days. The balance is initially recognized net of the present value adjustment, which is subsequently recognized as a financial expense.

Lease liabilities (Tables)

Lease liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Lease liabilities.
Schedule of lease liabilities	December 31, 2022 December 31, 2021 Opening balance 160,542 173,103 Additions for new lease agreements (i) 12,002 25,513 Renegotiation - (12,439 ) Cancelled contracts (3,180 ) (3,481 ) Renegotiation - COVID- 19 - (448 ) Interest 13,143 14,984 Payment of interest (14,941 ) (14,692 ) Payment of principal (27,003 ) (21,998 ) Closing balance 140,563 160,542 Current liabilities 23,151 26,636 Non-current liabilities 117,412 133,906 140,563 160,542 (i) Refers to new lease agreements which the Company has embedded part of its digital learning solutions. These lease agreements (digital learning) refer to lease terms of 36 months, with rates negotiated in the range of 10.3% p.a to 10.9% p.a.
Schedule of fixed and variable lease payments	For the years ended December 31 2022 2021 Fixed Payments 41,944 36,689 Payments related to short-term contracts and low value assets, variable price contracts (note 26 18,312 17,775 60,256 54,464

Contractual obligations and d_2

Contractual obligations and deferred income (Tables)	12 Months Ended
	Dec. 31, 2022
Contractual obligations and deferred income
Schedule of contractual obligations and deferred income	December 31, 2022 December 31, 2021 Refund liability (i) 51,533 37,122 Contract of exclusivity for processing payroll 587 783 Deferred income in leaseback agreement (ii) 4,075 5,678 Other contractual obligations 1,657 2,582 57,852 46,165 Current 57,852 46,037 Non-current - 128 57,852 46,165 (i) Refers to the customer’s right to return products, as mentioned in Note 11 (ii) In March 2018, the predecessor Somos-Anglo entered into a sales and leaseback agreement of a property located at Avenida João Dias in the city of São Paulo in the amount of R$ 25,500. This transaction included deferred income of R$ 9,104, which has been appropriated according to the lease term of the property (120 months).

Accounts payable for business_2

Accounts payable for business combination and acquisition of associates (Tables)	12 Months Ended
	Dec. 31, 2022
Accounts payable for business combination and acquisition of associates
Schedule of accounts payable for business combination	December 31, 2022 December 31, 2021 Pluri 3,653 3,251 Mind Makers 7,915 7,044 Livro Fácil 10,516 14,055 Meritt 300 3,347 SEL 30,267 26,935 Redação Nota 1000 6,030 7,230 EMME 10,827 12,780 Editora De Gouges 514,299 457,671 Phidelis 16,976 - Educbank 24,494 - 625,277 532,313 Current 73,007 20,502 Non-current 552,270 511,811 625,277 532,313
Schedule of changes in accounts payable for business combination	December 31, 2022 December 31, 2021 Opening balance 532,313 48,055 Additions 120,344 703,257 Cash payment (80,939 ) (205,280 ) Payments in installments (11,379 ) (19,168 ) Interest payment (603 ) (1,571 ) Interest adjustment 65,725 8,158 Remeasurement (184 ) (1,138 ) Closing balance 625,277 532,313
Schedule of maturities of accounts payable for business combination	The maturity years of such balances as of December 31, 202 2 are shown in the table below: December 31, 2022 December 31, 2021 Maturity of installments Total % Total % In up to one 73,007 11.7 % 20,502 3.9 % One two 389,186 62.2 % 35,685 6.7 % Two three 163,084 26.1 % 166,730 31.3 % Three - - 309,396 58.1 % 625,277 100.0 % 532,313 100.0 %

Salaries and Social Contribut_2

Salaries and Social Contribution (Tables)	12 Months Ended
	Dec. 31, 2022
Salaries and Social Contribution
Schedule of salaries and social contribution	December 31, 2022 December 31, 2021 Salaries payable 28,351 22,348 Social contribution payable (i) 25,205 23,926 Provision for vacation pay and 13 21,454 10,616 Provision for profit sharing (ii) 25,047 5,923 Others - 16 100,057 62,829 (i) Refers to the effect of social contribution over restricted share units' compensation plans issued on July 31 and November 10, 2020. The Company records the taxes over the shares on a monthly basis . (ii) The provision for profit sharing is based on qualitative and quantitative metrics determined by Management.

Related parties (Tables)

Related parties (Tables)	12 Months Ended
	Dec. 31, 2022
Related parties
Schedule of balances with related parties	December 31, 2022 Other receivables (i) Trade receivables (Note 10 21 Indemnification asset (note 21 b ) Other payments Suppliers (note 16 ) Bonds (note 15 ) Cogna Educação S.A. - - 180,417 - 3,828 313,531 Editora Atica S.A. - 5,754 - - 9,778 - Editora E Distribuidora Educacional S.A. 1,722 19 - - - - Educação Inovação e Tecnologia S.A. - 389 - - 175 - Nice Participações Ltda - 37 - - - - Saraiva Educação S.A. - 749 - - - - Somos Idiomas S.A. - 229 - - - - Others 37 - - 54 - - 1,759 7,177 180,417 54 13,781 313,531 (i) Refers substantially to accounts receivable generated from sharing costs e.g IT services shared by the Company to Cogna Group. December 31, 2021 Other receivables (i) Trade receivables (Note 10 21 Indemnification asset (note 21 Other payments (ii) Suppliers (note 16 Bonds (note 15 ) Acel Adminstração de Cursos Educacionais Ltda - 6,482 - - 474 - Anhanguera Educacional Participacoes S.A. - 413 - - - - Centro Educacional Leonardo Da Vinci SS - - - - 6 - Cogna Educação S.A. - - 160,470 3,021 - 315,764 Colégio Ambiental Ltda - 805 - - - - Colégio JAO Ltda. - 4,974 - - 33 - Colegio Manauara Lato Sensu Ltda. - 3,291 - - 458 - Colegio Manauara Cidade Nova Ltda. 395 - Colegio Visao Eireli - 132 - - 13 - Colégio Cidade Ltda - 397 - - 15 - COLEGIO DO SALVADOR LTDA 1 - Curso e Colégio Coqueiro Ltda - 434 - - 20 - ECSA Escola A Chave do Saber Ltda - 1,444 - - 16 - Editora Atica S.A. - 2,207 - 20,040 9,239 - Editora E Distribuidora Educacional S.A. - 436 - 15,754 88 - Editora Scipione S.A. - 445 - 211 556 - Educação Inovação e Tecnologia S.A. - - - 128 - - Escola Mater Christi Ltda. - 765 - - 139 - Escola Riacho Doce Ltda - - - - 24 - Maxiprint Editora Ltda. - 1,205 - 117 76 - Nucleo Brasileiro de Estudos Avançados Ltda - 420 - - 45 - Papelaria Brasiliana Ltda - 644 - - - - Pitagoras Sistema De Educacão Superior Ltda. - 76 - - - - Saber Serviços Educacionais S.A. 14 7,269 - - 578 - Saraiva Educacão S.A. 365 1,179 - - 5,136 - SGE Comercio De Material Didatico Ltda. - - - - 1,687 - Sistema P H De Ensino Ltda. - 4,421 - - 177 - Sociedade Educacional Alphaville Ltda - 1,257 - - 1 - Sociedade Educacional Doze De Outubro Ltda. - 734 - - 47 - Sociedade Educacional Parana Ltda. - 91 - - 11 - Somos Idiomas S.A. 122 - - - - - Somos Operações Escolares S.A. - 3,305 - - 29 - SSE Serviços Educacionais Ltda. - 3,602 - - 665 - 501 46,824 160,470 39,271 19,533 315,764 (i) (i) Refers substantially to accounts receivable generated from sharing costs e.g IT services shared by the Company to Cogna Group. (ii) Refers substantially to accounts payable by sharing expenses e.g property leasing, personnel and IT licenses shared with Cogna Group.
Schedule of transactions with related parties	Year ended December 31, 2022 Year ended December 31, 2021 Year ended December 31, 2020 Transactions held: Revenues Finance costs (i) note 15 Cost Sharing (note 21 Sublease (note 21 Revenues Finance costs Cost Sharing (note 21 Sublease (note 21 Revenues Finance costs Cost Sharing (note 21 d) Sublease (note 21 f) Acel Administracao De Cursos Educacionais Ltda. - - - - 2,790 - - - 1,230 - - - Centro Educacional Leonardo Da Vinci SS - - - - 41 - - - 1,319 - - - Cogna Educação S.A. - 36,573 - - - 25,859 - - - 48,432 - - Colégio Ambiental Ltda - - - - 496 - - - - - - - Colégio Cidade Ltda - - - - 146 - - - - - - - Colegio JAO Ltda. - - - - 1,582 - - - 387 - - - Colégio Manauara Lato Sensu Ltda. - - - - 1,903 - - - 3,139 - - - Colégio Manauara Cidade Nova Ltda - - - - 275 - - - - - Colégio Motivo Ltda. - - - - 35 - - - 1,308 - - - Colégio Visão Ltda - - - - 287 - - - - - - - Cursos e Colégio Coqueiros Ltda - - - - 268 - - - - - - - Ecsa Escola A Chave Do Saber Ltda. - - - - 593 - - - 657 - - - Editora Atica S.A. 16,286 - 5,757 8,551 5,374 - 6,130 13,153 7,287 229 11,989 15,364 Editora E Distribuidora Educacional SA. - - 29,475 - - - 31,384 - 1,841 - 36,144 1,489 Editora Scipione SA. 3,096 - - - 1,341 - - - 1,551 - - - Escola Mater Christi - - - - 311 - - - 246 - - - Escola Riacho Doce Ltda - - - - 77 - - - - - - - Maxiprint Editora Ltda. 6,665 - - - 1,107 - - - 612 - - - Nucleo Brasileiro de Estudos Avancados Ltda - - - - 276 - - - 423 - - - Papelaria Brasiliana Ltda - - - - 249 - - - 1,287 - - - Saber Serviços Educacionais S.A. 41 - - - 900 - - - 1,254 6,740 - 729 Saraiva Educacao SA. 4,090 - - 1,905 2,405 - - 2,528 3,364 - - 3,739 Sistema P H De Ensino Ltda. - - - - 4,417 - - - 5,776 - - - Sociedade Educacional Alphaville SA - - - - 414 - - - 317 - - - Sociedade Educacional Doze De Outubro Ltda - - - - 360 - - - 295 - - - Sociedade Educacional Neodna Cuiaba Ltda. - - - - 224 - - - 367 - - - SOE Operações Escolares SA. - - - - 1,086 - - - - - - - Somos Idiomas Ltda 641 - - 2,591 - - - 258 - - - - Somos Operações Escolares SA. - - - - 243 - - - - - - - SSE Serviços Educacionais Ltda. 863 - - - 1,463 - - - - - - - Sociedade Educacional Paraná Ltda. - - - - - - - - 795 - - - Sociedade Educacional Neodna Cuiaba Ltda. - EPP - - - - - - - - 367 - - - Somos Educação S.A. - - - - - - - - - 278 - - Others - - - - - - - - - - - 362 31,682 36,573 35,232 13,047 28,663 25,859 37,514 15,939 33,822 55,679 48,133 21,683 (i) Refers to debentures interest; see Note 15
Schedule of commercial lease and sublease agreements with related parties	Lessee Entity Counterparty to lease agreement (Lessor) Monthly payments Maturity Rate State of the property in use Somos Sistemas de Ensino S.A. Editora Scipione S.A. R$44 60 months from the agreement date Inflation index Pernambuco (Recife) Somos Sistemas de Ensino S.A. Editora Ática S.A. R$37 60 months from the agreement date Inflation index Bahia (Salvador) f, 2 Commercial sublease agreement Entity (Sublessor) Counterparty to the sublease agreement (Sublessee) Monthly payments Maturity Rate State of the property in use Editora e Distribuidora Educacional S.A. (“EDE”) Somos Sistemas de Ensino S.A. R$ 430 September 30, 2025. Inflation index São Paulo (São Paulo) Somos Sistemas de Ensino S.A. Editora Ática S.A. R$827 September 30, 2025. Inflation index São Paulo (São José dos Campos) Somos Sistemas de Ensino S.A. Somos Idiomas S.A. R$ 53 September 30, 2025. Inflation index São Paulo (São José dos Campos) Somos Sistemas de Ensino S.A. Saraiva Educação S.A (“Saraiva”) R$ 207 September 30, 2025. Inflation index São Paulo (São José dos Campos) Somos Sistemas de Ensino S.A. Livraria Livro Fácil Ltda,(“Livro Fácil”) R$ 1,160 September 30, 2025. Inflation index São Paulo (São José dos Campos)
Schedule of key management personnel compensation expenses	The Key management personnel compensation expenses comprised the following: December 31, 2022 December 31, 2021 December 31, 2020 Short-term employee benefits 10,786 4,685 6,982 Share-based compensation plan 9,640 8,305 33,594 20,426 12,990 40,576

Provision for tax, civil and _2

Provision for tax, civil and labor losses and Judicial deposits and escrow accounts (Tables)	12 Months Ended
	Dec. 31, 2022
Provision for tax, civil and labor losses and Judicial deposits and escrow accounts
Schedule of contingent liabilities	December 31, 2022 December 31, 2021 Proceedings whose likelihood of loss is probable Tax proceedings (i) 622,440 607,084 Labor proceedings (ii) 25,812 38,159 Civil proceedings 496 376 648,748 645,619 Liabilities assumed in Business Combination Labor proceedings (ii) 1,755 - Civil proceedings - 1,231 Tax proceedings 749 - 2,504 1,231 Total of provision for tax, civil and labor losses 651,252 646,850 (i) Primarily refers to income tax positions taken by Somos and the Company in connection with a corporate restructuring held by the predecessor in 2010 2018 2018 (ii) The Company is a party to labor demands, which mostly refer to proportional vacation, salary difference, night shift premium, overtime and social charges, among others. There are no individual labor demands with material amounts that require specific disclosure.
Schedule of changes in provision for contingent liabilities	The changes in provision for the years ended December 31, 2022 and 2021 December 31, 2021 Business combination Additions Reversals Interest Payments Decem ber 31, 2022 Tax proceedings 607,084 749 2,904 (27,790 ) 41,261 (1,019 ) 623,189 Labor proceedings 38,159 1,755 3,376 (16,045 ) 776 (454 ) 27,567 Civil proceedings 1,607 - 368 (1,615 ) 26 110 496 Total 646,850 2,504 6,648 (45,450 ) 42,063 (1,363 ) 651,252 Reconciliation with profit or loss for the period Finance expense - - (42,063 ) General and administrative expenses (6,648 ) 21,747 - Income tax and social contribution - 23,703 - Total (6,648 ) 45,450 (42,063 ) December 31, 2020 Business combination Additions Reversals Interest Payments December 31, 2021 Tax proceedings 575,724 - 16 (262 ) 31,623 (17 ) 607,084 Labor proceedings 37,896 - 3,468 (5,294 ) 2,636 (547 ) 38,159 Civil proceedings 313 1,231 110 (24 ) 41 (64 ) 1,607 Total 613,933 1,231 3,594 (5,580 ) 34,300 (628 ) 646,850 Reconciliation with profit or loss for the period Finance costs - - (34,300 ) General and administrative expenses (3,594 ) 5,580 - Total (3,594 ) 5,580 (34,300 )
Schedule of judicial deposits and escrow accounts	December 31, 2022 December 31, 2021 Tax proceedings 2,126 2,300 Indemnification asset -Former owner 1,801 1,998 Indemnification asset – Related parties (i) 180,417 160,470 Escrow-account (ii) 10,515 14,055 194,859 178,824 (i) Refers to an indemnification asset of the seller in connection with the acquisition of Somos (Vasta’s Predecessor) by Cogna Group (Vasta’s Parent Company) and recognized at the date of the business combination, in order to indemnify the Company for all losses that may be incurred in connection with all contingencies or lawsuits, substantially tax proceedings related to business combinations up to the maximum amount of R$ 180,417 160,470 21 (ii) Refers to guarantees received as a consequence of business combinations, in connection with contingencies whose likelihood of loss is probable, and for which the former owners are liable. According to the Sale Agreement, these former owners will reimburse the Company in case payments are required and if those contingencies materialize.

Current and Deferred Income T_2

Current and Deferred Income Tax and Social Contribution (Tables)	12 Months Ended
	Dec. 31, 2022
Current and Deferred Income Tax and Social Contribution
Schedule of reconciliation of income tax and social contribution expense	As of December 31, 2022 As of December 31, 2021 As of December 31, 2020 Loss before income tax and social contribution for the year (105,687 ) (155,843 ) (71,053 ) Nominal statutory rate of income tax and social contribution 34% 34% 34% IRPJ and CSLL calculated at the nominal rates 35,934 52,987 24,158 Share of loss equity-accounted investees (1,534 ) - - Permanent additions (8,292 ) (7,265 ) 1,246 Additional IRPJ - 24 - Difference in presumed profit rate of subsidiary 3,617 - - Tax Contingencies IRPJ and CSLL 23,703 - - Impairment write-off on tax loss carryforward ( 2,314 ) (8,657 ) - Total IRPJ and CSLL 51,114 37,089 25,404 Current IRPJ and CSLL in the result 10,668 (11,297 ) 7,874 Deferred IRPJ and CSLL in the result 40,446 48,386 17,530 51,114 37,089 25,404 Effective tax rate of Income and social contribution tax benefit 48% 24% 36%
Schedule of changes in deferred income tax and social contribution assets and liabilities	As of December 31, 2021 Effect on profit (loss) As of December 31, 2022 Income tax/social contribution: Income tax and social contribution losses carryforwards (ii) 307,319 114,921 422,240 Temporary Differences: Impairment losses on trade receivables 13,010 7,461 20,471 Provision for obsolete inventories (1,262 ) 4,608 3,346 Imputed interest on suppliers (2,157 ) (3,391 ) (5,548 ) Provision for risks of tax, civil and labor losses 20,025 420 20,445 Refund liabilities and right to returned goods 9,470 6,348 15,818 Lease Liabilities 6,660 1,276 7,936 Fair value adjustments on business combination and goodwill amortization (i) (248,628 ) (109,826 ) (358,454 ) Other temporary difference 25,968 18,628 44,596 Deferred Assets, net 130,405 40,446 170,851 (i) Goodwill and fair value adjustments on business combination comprise three (ii) The Company’s income tax and social contribution loss carryforwards are primarily the result of tax amortization of goodwill and the amortization of certain intangibles recognized related to the business combination in 2018 2026 ii. December 31, 2021 and 2020 Changes in deferred income tax and social contribution assets and liabilities are as follows: As of December 31, 2020 Effect on profit (loss) Deferred tax on business combination As of December 31, 2021 Income tax/social contribution: Income tax and social contribution losses carryforwards 182,257 125,062 - 307,319 Temporary Differences: Impairment losses on trade receivables 9,543 3,467 - 13,010 Provision for obsolete inventories 3,263 (4,525 ) - (1,262 ) Imputed interest on suppliers (744 ) (1,413 ) - (2,157 ) Provision for risks of tax, civil and labor losses 19,138 887 - 20,025 Refund liabilities and right to returned goods 10,903 (1,433 ) - 9,470 Lease Liabilities 4,764 1,896 - 6,660 Fair value adjustments on business combination and goodwill amortization (i) (150,598 ) (90,588 ) (7,442 ) (248,628 ) Other temporary difference 10,020 15,033 915 25,968 Deferred Assets, net 88,546 48,386 (6,527 ) 130,405 (i) Goodwill three

Shareholder's Equity (Tables)

Shareholder's Equity (Tables)	12 Months Ended
	Dec. 31, 2022
Shareholder's Equity
Schedule of changes in number of shares in share capital	Class A Shares (units) Class B Shares (units) Total December 31, 2021 18,957,758 64,436,093 83,393,851 Remuneration ILP exercised 184,117 - 184,117 Premium recognized 71,919 - 71,919 December 31, 2022 19,213,794 64,436,093 83,649,887
Schedule of Company’s shareholders	In units Company Shareholders Class A Class B Total Cogna Group - 64,436,093 64,436,093 Free Float 18,213,794 - 18,213,794 Treasury shares (Note 24 1,000,000 - 1,000,000 Total (%) 23% 77% 83,649,887
Schedule of earning per share	December 31, 2022 December 31, 2021 December 31, 2020 Loss Attributable to Shareholder´s (54,573 ) (118,754 ) (45,649 ) Weighted average number of ordinary shares outstanding (thousands) (i) 83,651 82,254 83,012 Basic earning (loss) per share - R$ (0.65 ) (1.44 ) (0.55 ) Diluted earning (loss) per share - R$ (0.65 ) (1.44 ) (0.55 ) (i) The Company has not changed its number of voting rights since the IPO on July 31, 2020.

Net Revenue from sales and Se_2

Net Revenue from sales and Services (Tables)	12 Months Ended
	Dec. 31, 2022
Net Revenue from sales and Services
Schedule of revenue by categories	December 31, 2022 December 31, 2021 December 31, 2020 Learning Systems Gross revenue 878,468 568,522 608,200 Taxes (382 ) (219 ) (40 ) Discounts (13,157 ) (14,302 ) (8,603 ) Returns (78,468 ) (41,919 ) (17,553 ) Net revenue 786,461 512,082 582,004 Textbooks Gross revenue 228,094 212,708 308,298 Taxes (214 ) (1,608 ) (250 ) Discounts (1,120 ) - - Returns (31,401 ) (41,330 ) (72,488 ) Net revenue 195,359 169,770 235,560 Complementary Education Services Gross revenue 159,207 148,817 63,491 Taxes (193 ) (961 ) (17 ) Discounts (1,415 ) - (6 ) Returns (15,755 ) (10,459 ) (2,880 ) Net revenue 141,844 137,397 60,588 Other services Gross revenue 38,727 34,498 34,118 Taxes (7,046 ) (3,034 ) (3,864 ) Net revenue 31,681 31,464 30,254 Total Content & EdTech Gross revenue 1,304,496 964,545 1,014,107 Taxes (7,835 ) (5,822 ) (4,171 ) Discounts (15,692 ) (14,302 ) (8,609 ) Returns (125,624 ) (93,708 ) (92,921 ) Net revenue 1,155,345 850,713 908,406 E-commerce Gross revenue 113,569 100,084 97,632 Taxes (1,873 ) (2,473 ) (2,261 ) Returns (5,533 ) (2,595 ) (6,149 ) Net revenue 106,163 95,016 89,222 Other digital services Gross revenue 3,026 1,850 - Taxes (254 ) (160 ) - Net revenue 2,772 1,690 - Total Digital Services Gross revenue 116,595 101,934 97,632 Taxes (2,127 ) (2,633 ) (2,261 ) Returns (5,533 ) (2,595 ) (6,149 ) Net revenue 108,935 96,706 89,222 Total Gross revenue 1,421,091 1,066,479 1,111,739 Taxes (9,962 ) (8,455 ) (6,432 ) Discounts (15,692 ) (14,302 ) (8,609 ) Returns (131,157 ) (96,303 ) (99,070 ) Net revenue 1,264,280 947,419 997,628 Sales 1,229,827 914,266 967,374 Service 34,453 33,153 30,254 Net revenue 1,264,280 947,419 997,628

Costs and Expenses by Nature (T

Costs and Expenses by Nature (Tables)	12 Months Ended
	Dec. 31, 2022
Costs and Expenses by Nature
Schedule of costs and expenses by nature	December 31, 2022 December 31, 2021 December 31, 2020 Salaries and payroll charges (281,894 ) (274,581 ) (279,523 ) Raw materials and productions costs (201,700 ) (185,862 ) (216,791 ) Editorial costs (49,329 ) (71,705 ) (52,794 ) Depreciation and amortization (268,714 ) (211,156 ) (174,088 ) Copyright (72,348 ) (58,885 ) (59,597 ) Advertising and publicity (99,834 ) (77,655 ) (88,965 ) Utilities, cleaning and security (20,087 ) (25,505 ) (19,499 ) Rent and condominium fees (18,312 ) (17,775 ) (14,278 ) Third-party services (47,667 ) (25,758 ) (23,904 ) Travel (23,577 ) (8,747 ) (8,760 ) Consulting and advisory services (34,166 ) (23,395 ) (25,269 ) Impairment losses on trade receivables (45,904 ) (32,726 ) (25,015 ) Material (6,263 ) (3,523 ) (3,708 ) Taxes and contributions (1,777 ) (2,808 ) (2,066 ) Reversal for tax, civil and labor risks 15,099 1,986 2,092 Provision for obsolete inventories (40,924 ) (22,117 ) (4,057 ) Income from lease and sublease agreements with related parties 13,047 15,939 21,683 Other income, net 662 5,554 4,283 (1,183,688 ) (1,018,719 ) (970,256 ) Cost of goods sold and services (473,135 ) (396,829 ) (378,003 ) Commercial expenses (194,043 ) (164,439 ) (165,169 ) General and administrative expenses (471,626 ) (430,279 ) (406,352 ) Impairment loss on accounts receivable (45,904 ) (32,726 ) (25,015 ) Other operating income, net 1,020 5,554 4,283 (1,183,688 ) (1,018,719 ) (970,256 )

Finance result (Tables)

Finance result (Tables)	12 Months Ended
	Dec. 31, 2022
Finance result
Schedule of finance result (net)	December 31, 2022 December 31, 2021 December 31, 2020 Finance income Income from financial investments and marketable securities (i) 54,954 26,719 16,907 Income finance from indemnification assets and contingencies (ii) 31,077 6,818 1,476 Other finance income 2,526 2,103 2,601 88,557 35,640 20,984 Finance costs Interest on bonds and financing (108,896 ) (43,549 ) (52,935 ) Interest on account payables for business combinations (65,725 ) ( 8,158 ) ( 1,568 ) Imputed interest on suppliers (19,810 ) (6,609 ) (12,286 ) Interest on Loans from related parties - (157 ) (3,344 ) Bank and collection fees (3,891 ) (6,587 ) (17,771 ) Interest on provision for tax, civil and labor losses (52,891 ) (34,300 ) (13,297 ) Interest on Lease Liabilities (13,143 ) (14,984 ) (15,077 ) Other finance costs (5,968 ) (5,839 ) (3,131 ) (270,324 ) (120,183 ) (119,409 ) Financial Result (net) (181,767 ) (84,543 ) (98,425 ) (i) Refers to income from marketable securities indexed at CDI. (ii) Refers to an indemnification asset in the amount of R$ 20,249 in connection with the acquisition of ( Predecessor) by Group ( Parent Company), as mentioned in the note 21

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting
Schedule of business' revenue, its reconciliation to "profit (loss) before finance result and tax", assets and liabilities by reportable segment	December 31, 2022 Content & EdTech Platform Digital Services Platform Total Net revenue from sales and services 1,155,345 108,935 1,264,280 Cost of goods sold and services (375,167 ) (97,968 ) (473,135 ) Operating income (expenses) General and administrative expenses (445,330 ) (26,295 ) (471,626 ) Commercial expenses (183,118 ) (10,926 ) (194,043 ) Other operating income, net 2,260 (1,240 ) 1,020 Impairment losses on trade receivables (45,769 ) (135 ) (45,904 ) Share of loss equity-accounted investees (4,512 ) - (4,512 ) Profit (loss) before finance result and taxes 103,709 (27,629 ) 76,080 Assets 7,438,094 82,497 7,520,591 Current and non-current liabilities 2,852,390 38,521 2,890,911 December 31, 2021 Content & EdTech Platform Digital Services Total Net revenue from sales and services 850,713 96,706 947,419 Cost of goods sold and services (327,651 ) (69,178 ) (396,829 ) Operating income (expenses) General and administrative expenses (413,746 ) (16,533 ) (430,279 ) Commercial expenses (147,664 ) (16,775 ) (164,439 ) Other operating income 5,469 85 5,554 Impairment losses on trade receivables (32,344 ) (382 ) (32,726 ) Loss before finance result and taxes (65,223 ) (6,077 ) (71,300 ) Assets 7,207,084 126,323 7,333,407 Current and non-current liabilities 2,605,351 62,847 2,668,198 December 31, 2020 Content & EdTech Platform Digital Services Total Net revenue from sales and services 908,406 89,222 997,628 Cost of goods sold and services (301,882 ) (76,121 ) (378,003 ) Operating income (expenses) General and administrative expenses (387,023 ) (19,329 ) (406,352 ) Commercial expenses (152,659 ) (12,510 ) (165,169 ) Other operating income 4,283 - 4,283 Impairment losses on trade receivables (25,015 ) - (25,015 ) Profit (Loss) before finance result and taxes 46,110 (18,738 ) 27,372 Assets 6,848,198 130,072 6,978,270 Current and non-current liabilities 2,141,107 51,847 2,192,953

Subsequent events (Tables)

Subsequent events (Tables)	12 Months Ended
	Dec. 31, 2022
Disclosure of non-adjusting events after reporting period [line items]
Schedule of assets and liabilities acquired for business combination	Phidelis MVP Total Current assets Cash and cash equivalents 162 217 379 Trade receivables 65 131 196 Taxes recoverable 1 4 5 Total current assets 228 352 580 Non-current assets Property, plant and equipment - 72 72 Intangible assets - Customer Portfolio 1,521 2,313 3,834 Intangible assets - Software 523 2,702 3,225 Total non-current assets 2,044 5,087 7,131 Total Assets 2,272 5,439 7,711 Current liabilities Salaries and social contributions 58 4 62 Taxes payable - 10 10 Income tax and social contribution payable - 80 80 Other liabilities - 12 12 Total current liabilities 58 106 164 Non-current liabilities Provision for tax, civil and labor losses - 2,504 2,504 Total non-current liabilities - 2,504 2,504 Total liabilities 58 2,610 2,668 Net identifiable assets at fair value (A) 2,214 2,829 5,043 Total Consideration transferred (B) 3,600 18,366 21,966 Goodwill (B – A) (i) 1,386 15,537 16,923

The Company and Basis of Pres_3

The Company and Basis of Presentation (Details)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Somos Sistemas de Ensino S.A. ("Somos Sistemas")
The Company and Basis of Presentation
Interest %		100%	100%
Livraria Livro Fácil Ltda.("Livro Fácil")
The Company and Basis of Presentation
Interest %		100%	100%
A & R Comercio e Servicos de Informatica Ltda. [Member]
The Company and Basis of Presentation
Interest %		100%	100%
Mind Makers Editora Educacional (“Mind Makers”)
The Company and Basis of Presentation
Interest %	[1]	0%	100%
Colégio Anglo São Paulo
The Company and Basis of Presentation
Interest %		100%	100%
Phidelis Tecnologia Desenvolvimento de Sistemas Ltda. (“Phidelis”)
The Company and Basis of Presentation
Interest %		100%	0%
MVP Consultoria e Sistemas Ltda. (“MVP”)
The Company and Basis of Presentation
Interest %		100%	0%
Meritt Informação Educacional Ltda (“Meritt”)
The Company and Basis of Presentation
Interest %	[1]	0%	100%
Sociedade Educacional da Lagoa Ltda (“SEL”)
The Company and Basis of Presentation
Interest %		100%	100%
Nota 1000 Serviços Educacionais Ltda ("Redação Nota 1000")
The Company and Basis of Presentation
Interest %	[1]	0%	100%
EMME – Produções de Materiais em Multimídia Ltda (“EMME”)
The Company and Basis of Presentation
Interest %		100%	100%
Editora De Gouges S.A ("De Gouges")
The Company and Basis of Presentation
Interest %	[1]	0%	100%
[1] Entities that were merged during the fiscal year ended December 31,2022

The Company and Basis of Pres_4

The Company and Basis of Presentation (Details 1) R$ in Thousands		12 Months Ended
	Jul. 23, 2020 BRL (R$)	Dec. 31, 2022 BRL (R$) Item shares	Dec. 31, 2021 BRL (R$) shares	Dec. 31, 2020 BRL (R$) shares	Jul. 19, 2022 BRL (R$) Installments
The Company and Basis of Presentation
Number of Reportable Segments | Item		2
Capital contribution				R$ 2426
Consideration transferred		R$ 21966	R$ 703258
Issuance of common shares in initial public offering		R$ 0	R$ 0	R$ 1836317
Number of shares issued | shares		83,649,887	83,393,851	83,011,585
Share issuance costs, net of taxes				R$ 141173
Somos Sistemas de Ensino S.A. ("Somos Sistemas")
The Company and Basis of Presentation
Proportion of ownership interest in subsidiary		100%	100%
Educbank
The Company and Basis of Presentation
Percentage of voting equity interests acquired					45%
Consideration transferred					R$ 87651
Consideration paid in cash					63,814
Business Combination, Remaining consideration to be transferred, acquisition-date fair value					R$ 23837
Number of installments for contingent consideration payment | Installments					4
Flex Flix Limited [member]
The Company and Basis of Presentation
Percentage of voting equity interests acquired					10%
Consideration paid in cash					R$ 8271
Cogna Group
The Company and Basis of Presentation
Capital contribution	R$ 2426
Cogna Group | Somos Group | Somos Sistemas de Ensino S.A. ("Somos Sistemas")
The Company and Basis of Presentation
Proportion of ownership interest in subsidiary	100%

Basis of preparation and pres_3

Basis of preparation and presentation of Consolidated Financial Statements (Details)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Somos Sistemas de Ensino S.A. ("Somos Sistemas")
The Company and Basis of Presentation
Interest %		100%	100%
Livraria Livro Fácil Ltda.("Livro Fácil")
The Company and Basis of Presentation
Interest %		100%	100%
A & R Comercio e Servicos de Informatica Ltda. [Member]
The Company and Basis of Presentation
Interest %		100%	100%
Mind Makers Editora Educacional (“Mind Makers”)
The Company and Basis of Presentation
Interest %	[1]	0%	100%
Colégio Anglo São Paulo
The Company and Basis of Presentation
Interest %		100%	100%
Phidelis Tecnologia Desenvolvimento de Sistemas Ltda. (“Phidelis”)
The Company and Basis of Presentation
Interest %		100%	0%
MVP Consultoria e Sistemas Ltda. (“MVP”)
The Company and Basis of Presentation
Interest %		100%	0%
Meritt Informação Educacional Ltda (“Meritt”)
The Company and Basis of Presentation
Interest %	[1]	0%	100%
Sociedade Educacional da Lagoa Ltda (“SEL”)
The Company and Basis of Presentation
Interest %		100%	100%
Nota 1000 Serviços Educacionais Ltda ("Redação Nota 1000")
The Company and Basis of Presentation
Interest %	[1]	0%	100%
EMME – Produções de Materiais em Multimídia Ltda (“EMME”)
The Company and Basis of Presentation
Interest %		100%	100%
Editora De Gouges S.A ("De Gouges")
The Company and Basis of Presentation
Interest %	[1]	0%	100%
[1] Entities that were merged during the fiscal year ended December 31,2022

Use of estimates and judgemen_2

Use of estimates and judgements (Details)	12 Months Ended
	Dec. 31, 2022
Use of estimates and judgements
Sales return term from delivery date	4 months

Significant accounting polici_4

Significant accounting policies and new and not yet effective accounting standards (Details)	12 Months Ended
	Dec. 31, 2022
Property, buildings and leasehold improvements [member] | Minimum [member]
Property, Plant and Equipment
Estimated useful lives (in years)	5 years
Property, buildings and leasehold improvements [member] | Maximum [member]
Property, Plant and Equipment
Estimated useful lives (in years)	20 years
IT equipment [member] | Minimum [member]
Property, Plant and Equipment
Estimated useful lives (in years)	3 years
IT equipment [member] | Maximum [member]
Property, Plant and Equipment
Estimated useful lives (in years)	10 years
Furniture, equipment and fittings [member] | Minimum [member]
Property, Plant and Equipment
Estimated useful lives (in years)	3 years
Furniture, equipment and fittings [member] | Maximum [member]
Property, Plant and Equipment
Estimated useful lives (in years)	10 years
Right of use assets [member] | Minimum [member]
Property, Plant and Equipment
Estimated useful lives (in years)	3 years
Right of use assets [member] | Maximum [member]
Property, Plant and Equipment
Estimated useful lives (in years)	15 years

Significant accounting polici_5

Significant accounting policies and new and not yet effective accounting standards (Details 2)	12 Months Ended
	Dec. 31, 2022
Intangible Assets and Goodwill
Nominal statutory rates for calculating IRPJ (as a percent)	25%
Nominal statutory rates for calculating CSLL (as a percent)	9%
Software [member]
Intangible Assets and Goodwill
Estimated useful lives (in years)	5 years
Trademarks [member] | Minimum [member]
Intangible Assets and Goodwill
Estimated useful lives (in years)	20 years
Trademarks [member] | Maximum [member]
Intangible Assets and Goodwill
Estimated useful lives (in years)	30 years
Customer portfolio [member] | Minimum [member]
Intangible Assets and Goodwill
Estimated useful lives (in years)	12 years
Customer portfolio [member] | Maximum [member]
Intangible Assets and Goodwill
Estimated useful lives (in years)	13 years
Platform content [member]
Intangible Assets and Goodwill
Estimated useful lives (in years)	3 years

Significant accounting polici_6

Significant accounting policies and new and not yet effective accounting standards (Details 3) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure of classes of share capital [line items]
Maximum maturity period of cash and cash equivalents	3 months
Period of lease term of short-term leases	12 months
Share capital	R$ 4820815	R$ 4820815
Share capital (in shares)	82,649,887
Capital Reserve	R$ 80531	61,488
Acquisition of shares upon repurchase program		23,880
Minimum Period of contract for sale of textbooks and learning systems (in years)	3 years
Maximum Period of contract for sale of textbooks and learning systems (in years)	5 years
Sales return term from delivery date	4 months
Tax effect of revenues exempt from taxation	R$ 0
Nominal statutory rate on service revenues (as a percent)	9.25%
Municipal service tax, statutory rate (as a percent)	5%
Treasury shares [member]
Disclosure of classes of share capital [line items]
Acquisition of shares upon repurchase program	R$ 23880	R$ 23880
Number of shres acquired upon repurchase program	1,000,000	1,000,000
Cogna Group
Disclosure of classes of share capital [line items]
Share capital	R$ 4820815
Class B common shares | Cogna Group
Disclosure of classes of share capital [line items]
Share capital (in shares)	64,436,093
Class A common shares
Disclosure of classes of share capital [line items]
Share capital (in shares)	18,213,794
Class A common shares | Treasury shares [member]
Disclosure of classes of share capital [line items]
Acquisition of shares upon repurchase program		R$ 23880
Number of shres acquired upon repurchase program		1,000,000

Business Combinations - Textual

Business Combinations - Textual (Details) R$ in Thousands						12 Months Ended
	Jan. 14, 2022 BRL (R$) Installments	Oct. 29, 2021 BRL (R$)	Aug. 01, 2021 BRL (R$)	May 27, 2021 BRL (R$)	Mar. 02, 2021 BRL (R$)	Dec. 31, 2022 BRL (R$)	Dec. 31, 2021 BRL (R$)	Dec. 31, 2020 BRL (R$)
Business Combinations
Consideration transferred, acquisition-date fair value						R$ 21966	R$ 703258
Interest rate basis						CDI
Discounts on sale price						R$ 15692	14,302	R$ 8609
Phidelis
Business Combinations
Consideration transferred, acquisition-date fair value	R$ 21966
Consideration paid in cash	8,854
Business Combination, Remaining consideration to be transferred, acquisition-date fair value	R$ 7638
Period for remaining consideration to be transferred	2 years
Interest rate basis	Extended National Consumer Price Index (“IPCA”)
Contingent consideration	R$ 5474
Number of installments for contingent consideration payment | Installments	3
Revenue from the date of acquisition						5,157
Net profit (loss) from the date of acquisition						780
Combined net revenue from sales and services						1,264,287
Combined net profit (loss)						(54,572)
SEL
Business Combinations
Consideration transferred, acquisition-date fair value					R$ 65000		65,000
Consideration paid in cash					38,124
Business Combination, Remaining consideration to be transferred, acquisition-date fair value					R$ 26876
Period for remaining consideration to be transferred					4 years
Interest rate basis					100% of CDI
Period for minimum amount of contract revenue to be achieved					2 years
SEL | 2023 and 2024
Business Combinations
Minimum Amount Of Contract Revenue Required					R$ 39400
Redação Nota 1000
Business Combinations
Consideration transferred, acquisition-date fair value				R$ 11387			11,387
Consideration paid in cash				4,093
Business Combination, Remaining consideration to be transferred, acquisition-date fair value				R$ 7294
Interest rate basis				100% of CDI index
Consideration payments final due date				Dec. 24, 2026
Contingent consideration				R$ 2650
Measurement period adjustments recognised for intangible assets and goodwill						1,098
EMME
Business Combinations
Consideration transferred, acquisition-date fair value			R$ 15317				15,317
Consideration paid in cash			3,063
Business Combination, Remaining consideration to be transferred, acquisition-date fair value			R$ 12253
Interest rate basis			“IPCA” – Extended National Consumer Price Index
Consideration payments final due date			Aug. 16, 2026
Measurement period adjustments recognised for intangible assets and goodwill						R$ 1055
De Gouges
Business Combinations
Consideration transferred, acquisition-date fair value		R$ 611554					R$ 611554
Consideration paid in cash		160,000
Business Combination, Remaining consideration to be transferred, acquisition-date fair value		R$ 451554
Interest rate basis		100% of CDI index
Consideration payments final due date		Oct. 29, 2026
De Gouges | Somos Sistemas de Ensino S.A. ("Somos Sistemas")
Business Combinations
Discounts on sale price		R$ 62234
Maximum period for discounts on sale price		5 years
De Gouges | 2023 and 2024
Business Combinations
Limited amount of discounts on sale price		R$ 16600

Business Combinations (Details)

Business Combinations (Details) - BRL (R$) R$ in Thousands		Dec. 31, 2022		Dec. 31, 2021		Oct. 29, 2021	Aug. 01, 2021	May 27, 2021	Mar. 02, 2021
Current assets
Cash and cash equivalents		R$ 379		R$ 19062
Trade receivables		196		20,599	[1]
Inventories	[2]			4,534
Prepayments				97
Taxes recoverable		5		1,956
Other receivables				192
Total current assets		580		46,440
Non-current assets
Property, plant and equipment		72		2,011
Other intangible assets				1,138
Intangible assets - Customer Portfolio		3,834		83,589	[3]
Intangible assets - Trade agreement	[4]			247,622
Intangible assets - Software		3,225		11,036	[5]
Total non-current assets		7,131		345,396
Total Assets		7,711		391,836
Current liabilities
Suppliers				1,300
Salaries and social contributions		62		3,596
Taxes payable		10		326
Income tax and social contribution payable		80		5,265
Provision for trade discount				15,000
Other liabilities		12		1,700
Total current liabilities		164		27,187
Non-current liabilities
Provision for tax, civil and labor losses		2,504		1,231
Provision for trade discount				47,234
Total non-current liabilities		2,504		48,465
Total liabilities		2,668		75,652
Net identifiable assets at fair value (A)		5,043		316,184
Total Consideration transferred (B)		21,966		703,258
Goodwill (B – A)		16,923	[6]	387,074	[7]
Total
Non-current assets
Intangible assets - Software									R$ 11036
Phidelis
Current assets
Cash and cash equivalents		162
Trade receivables		65
Taxes recoverable		1
Total current assets		228
Non-current assets
Property, plant and equipment		0
Intangible assets - Customer Portfolio		1,521
Intangible assets - Software		523
Total non-current assets		2,044
Total Assets		2,272
Current liabilities
Salaries and social contributions		58
Taxes payable		0
Income tax and social contribution payable		0
Other liabilities		0
Total current liabilities		58
Non-current liabilities
Provision for tax, civil and labor losses		0
Total non-current liabilities		0
Total liabilities		58
Net identifiable assets at fair value (A)		2,214
Total Consideration transferred (B)		3,600
Goodwill (B – A)	[6]	1,386
MVP
Current assets
Cash and cash equivalents		217
Trade receivables		131
Taxes recoverable		4
Total current assets		352
Non-current assets
Property, plant and equipment		72
Intangible assets - Customer Portfolio		2,313
Intangible assets - Software		2,702
Total non-current assets		5,087
Total Assets		5,439
Current liabilities
Salaries and social contributions		4
Taxes payable		10
Income tax and social contribution payable		80
Other liabilities		12
Total current liabilities		106
Non-current liabilities
Provision for tax, civil and labor losses		2,504
Total non-current liabilities		2,504
Total liabilities		2,610
Net identifiable assets at fair value (A)		2,829
Total Consideration transferred (B)		18,366
Goodwill (B – A)	[6]	R$ 15537
SEL
Current assets
Cash and cash equivalents				1,461
Trade receivables	[1]			0
Inventories	[2]			0
Prepayments				0
Taxes recoverable				0
Other receivables				180
Total current assets				1,641
Non-current assets
Property, plant and equipment				611
Other intangible assets				0
Intangible assets - Customer Portfolio	[3]			18,783
Intangible assets - Trade agreement	[4]			0
Intangible assets - Software	[5]			1,296
Total non-current assets				20,690
Total Assets				22,331
Current liabilities
Suppliers				0
Salaries and social contributions				1
Taxes payable				17
Income tax and social contribution payable				33
Provision for trade discount				0
Other liabilities				0
Total current liabilities				51
Non-current liabilities
Provision for tax, civil and labor losses				0
Provision for trade discount				0
Total non-current liabilities				0
Total liabilities				51
Net identifiable assets at fair value (A)				22,280
Total Consideration transferred (B)				65,000					R$ 65000
Goodwill (B – A)	[7]			42,720
Redação Nota 1000
Current assets
Cash and cash equivalents				525
Trade receivables	[1]			1,327
Inventories	[2]			0
Prepayments				0
Taxes recoverable				0
Other receivables				0
Total current assets				1,852
Non-current assets
Property, plant and equipment				0
Other intangible assets				1,099
Intangible assets - Customer Portfolio	[3]			0
Intangible assets - Trade agreement	[4]			0
Intangible assets - Software	[5]			5,692
Total non-current assets				6,791
Total Assets				8,643
Current liabilities
Suppliers				180
Salaries and social contributions				124
Taxes payable				207
Income tax and social contribution payable				0
Provision for trade discount				0
Other liabilities				1,673
Total current liabilities				2,184
Non-current liabilities
Provision for tax, civil and labor losses				0
Provision for trade discount				0
Total non-current liabilities				0
Total liabilities				2,184
Net identifiable assets at fair value (A)				6,459
Total Consideration transferred (B)				11,387				R$ 11387
Goodwill (B – A)	[7]			4,928
EMME
Current assets
Cash and cash equivalents				637
Trade receivables	[1]			1,082
Inventories	[2]			0
Prepayments				14
Taxes recoverable				9
Other receivables				0
Total current assets				1,742
Non-current assets
Property, plant and equipment				128
Other intangible assets				1
Intangible assets - Customer Portfolio	[3]			0
Intangible assets - Trade agreement	[4]			0
Intangible assets - Software	[5]			4,048
Total non-current assets				4,177
Total Assets				5,919
Current liabilities
Suppliers				13
Salaries and social contributions				600
Taxes payable				102
Income tax and social contribution payable				0
Provision for trade discount				0
Other liabilities				2
Total current liabilities				717
Non-current liabilities
Provision for tax, civil and labor losses				0
Provision for trade discount				0
Total non-current liabilities				0
Total liabilities				717
Net identifiable assets at fair value (A)				5,202
Total Consideration transferred (B)				15,317			R$ 15317
Goodwill (B – A)	[7]			10,115
De Gouges
Current assets
Cash and cash equivalents				16,439
Trade receivables	[1]			18,190
Inventories				4,534	[2]	R$ 4534
Prepayments				83
Taxes recoverable				1,947
Other receivables				12
Total current assets				41,205
Non-current assets
Property, plant and equipment				1,272
Other intangible assets				38
Intangible assets - Customer Portfolio	[3]			64,806
Intangible assets - Trade agreement				247,622	[4]	247,622
Intangible assets - Software	[5]			0
Total non-current assets				313,738
Total Assets				354,943
Current liabilities
Suppliers				1,107
Salaries and social contributions				2,871
Taxes payable				0
Income tax and social contribution payable				5,232
Provision for trade discount				15,000
Other liabilities				25
Total current liabilities				24,235
Non-current liabilities
Provision for tax, civil and labor losses				1,231
Provision for trade discount				47,234
Total non-current liabilities				48,465
Total liabilities				72,700
Net identifiable assets at fair value (A)				282,243
Total Consideration transferred (B)				611,554		R$ 611554
Goodwill (B – A)	[7]			R$ 329311
[1] Accounts receivable from customers comprise gross contractual amounts due of R$ 24,344 3,746 10 4,534 33 As a result of the purchase price allocation, the Company identified R$ 247,622, a commercial agreement (“Eleva Holding”), which corresponds to the sale of teaching material from "De Gouges" to partner schools of "Eleva Holding" within 10 years, with an estimated sales rate of 10 % per year. As a result of purchase price allocation, the Company identified R$ 11,036 Education System “Redação Nota 1000 14

Business Combinations (Detail_2

Business Combinations (Details) (Parenthetical) - BRL (R$) R$ in Thousands		Oct. 29, 2021	Dec. 31, 2022	Dec. 31, 2021		Mar. 02, 2021	Dec. 31, 2020
Business Combinations
Intangible assets - Customer Portfolio			R$ 3834	R$ 83589	[1]
Intangible assets - Trade agreement	[2]			247,622
Inventories	[3]			4,534
Intangible assets - Software			R$ 3225	11,036	[4]
Customer Portfolio [member]
Business Combinations
Percentage of receivables		8%
Business combinations
Business Combinations
Intangible assets - Software						R$ 11036
Accounts receivable from customers, gross contractual amounts				24,344
Accounts receivable from customers which were uncollectible on the acquisition date							R$ 3746
SEL
Business Combinations
Intangible assets - Customer Portfolio	[1]			18,783
Intangible assets - Trade agreement	[2]			0
Inventories	[3]			0
Intangible assets - Software	[4]			1,296
SEL | Customer Portfolio [member]
Business Combinations
Intangible assets - Customer Portfolio						R$ 18783
Redação Nota 1000
Business Combinations
Intangible assets - Customer Portfolio	[1]			0
Intangible assets - Trade agreement	[2]			0
Inventories	[3]			0
Intangible assets - Software	[4]			5,692
EMME
Business Combinations
Intangible assets - Customer Portfolio	[1]			0
Intangible assets - Trade agreement	[2]			0
Inventories	[3]			0
Intangible assets - Software	[4]			4,048
De Gouges
Business Combinations
Useful life measured as period of time, intangible assets other than goodwill		10 years
Intangible assets - Customer Portfolio	[1]			64,806
Intangible assets - Trade agreement		R$ 247622		247,622	[2]
Estimated sales rate		10%
Inventories		R$ 4534		4,534	[3]
Estimated sale rate for inventory		33%
Intangible assets - Software	[4]			R$ 0
De Gouges | Customer Portfolio [member]
Business Combinations
Intangible assets - Customer Portfolio		R$ 64806
[1]As a result of purchase price allocation, the Company identified R$ 18,783, customer portfolio (“SESI”), and R$ 64,806, customer portfolio (“De Gouges”) based on customer portfolio receivables expectation around 8% per year. See Note 14.[2] As a result of the purchase price allocation, the Company identified R$ 247,622, a commercial agreement (“Eleva Holding”), which corresponds to the sale of teaching material from "De Gouges" to partner schools of "Eleva Holding" within 10 years, with an estimated sales rate of 10 % per year. 4,534 33 As a result of purchase price allocation, the Company identified R$ 11,036 Education System “Redação Nota 1000 14

Financial Risk Management (Deta

Financial Risk Management (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Market risk - cash flow interest rate risk
Financing and Lease Liabilities	R$ 140563	R$ 160542	R$ 173103
Accounts Payable for Business Combination and acquisition of associates	R$ 625277	532,313	R$ 48055
Interest rate basis	CDI
Private Bonds – 6th Issuance – series 2
Market risk - cash flow interest rate risk
Bonds	R$ 53688	104,844
Private Bonds – 6th Issuance – series 2
Market risk - cash flow interest rate risk
Bonds	0	210,920
Private Bonds – 9th Issuance – series 2
Market risk - cash flow interest rate risk
Bonds	259,843	0
Bonds – 1st Issuance – single
Market risk - cash flow interest rate risk
Bonds	529,465	514,574
Market risk - cash flow interest rate risk
Market risk - cash flow interest rate risk
Financing and Lease Liabilities	140,563	160,542
Accounts Payable for Business Combination and acquisition of associates	625,277	532,313
Amount under interest rate contract	1,608,836	1,524,081
Market risk - cash flow interest rate risk | Mind Makers
Market risk - cash flow interest rate risk
Bonds	R$ 0	R$ 888
Market risk - cash flow interest rate risk | TJPLP + 5% p.a. | Mind Makers
Market risk - cash flow interest rate risk
Interest rate basis	TJPLP
Adjustment to interest rate basis	5%
Market risk - cash flow interest rate risk | IPCA
Market risk - cash flow interest rate risk
Interest rate basis	IPCA
Market risk - cash flow interest rate risk | 100% CDI
Market risk - cash flow interest rate risk
Interest rate basis	CDI
Percentage of interest rate basis	100%
Market risk - cash flow interest rate risk | Private Bonds – 6th Issuance – series 2 | CDI + 1.00% p.a.
Market risk - cash flow interest rate risk
Interest rate basis	CDI
Adjustment to interest rate basis	1%
Market risk - cash flow interest rate risk | Private Bonds – 6th Issuance – series 2 | CDI + 1.70% p.a.
Market risk - cash flow interest rate risk
Interest rate basis	CDI
Adjustment to interest rate basis	1.70%
Market risk - cash flow interest rate risk | Private Bonds – 9th Issuance – series 2 | CDI + 2.40% p.a.
Market risk - cash flow interest rate risk
Interest rate basis	CDI
Adjustment to interest rate basis	2.40%
Market risk - cash flow interest rate risk | Bonds – 1st Issuance – single | CDI + 2.30% p.a.
Market risk - cash flow interest rate risk
Interest rate basis	CDI
Adjustment to interest rate basis	2.30%

Financial Risk Management (De_2

Financial Risk Management (Details 2) - BRL (R$) R$ in Thousands		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Bonds and financing		R$ 842996	R$ 831226	R$ 793341
Lease Liabilities		140,563	160,542	173,103
Accounts Payable for business combination and acquisition of associates		625,277	532,313	48,055
Suppliers		250,647
Reverse Factoring		155,469
Other liabilities - related parties		54
Financial liabilities by maturity ranges		R$ 2015006
Estimated interest rate (as a percent)		12.43%
Capital Management
Net debt (i)	[1]	R$ 1969241	1,518,247
Total equity		4,629,679	4,665,209	R$ 4785317	R$ 3100083
Total capitalization (ii)	[2]	R$ 2660438	R$ 3146963
Gearing ratio - % - (iii)	[3]	74%	48%
Undiscounted contractual amounts
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Bonds and financing		R$ 947781
Lease Liabilities		158,035
Accounts Payable for business combination and acquisition of associates		702,999
Suppliers		281,802
Reverse Factoring		174,794
Other liabilities - related parties		61
Financial liabilities by maturity ranges		2,265,472
In up to one year [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Bonds and financing		93,779
Lease Liabilities		23,151
Accounts Payable for business combination and acquisition of associates		73,007	R$ 20502
Suppliers		250,647
Reverse Factoring		155,469
Other liabilities - related parties		54
Financial liabilities by maturity ranges		596,107
In up to one year [member] | Undiscounted contractual amounts
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Bonds and financing		105,436
Lease Liabilities		26,029
Accounts Payable for business combination and acquisition of associates		82,082
Suppliers		281,802
Reverse Factoring		174,794
Other liabilities - related parties		61
Financial liabilities by maturity ranges		670,204
One to two years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Bonds and financing		499,217
Lease Liabilities		22,921
Accounts Payable for business combination and acquisition of associates		389,186	R$ 35685
Suppliers		0
Reverse Factoring		0
Other liabilities - related parties		0
Financial liabilities by maturity ranges		911,324
One to two years [member] | Undiscounted contractual amounts
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Bonds and financing		561,270
Lease Liabilities		25,770
Accounts Payable for business combination and acquisition of associates		437,562
Suppliers		0
Reverse Factoring		0
Other liabilities - related parties		0
Financial liabilities by maturity ranges		1,024,602
Over two years
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Bonds and financing		250,000
Lease Liabilities		94,491
Accounts Payable for business combination and acquisition of associates		163,084
Suppliers		0
Reverse Factoring		0
Other liabilities - related parties		0
Financial liabilities by maturity ranges		507,575
Over two years | Undiscounted contractual amounts
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Bonds and financing		281,075
Lease Liabilities		106,236
Accounts Payable for business combination and acquisition of associates		183,355
Suppliers		0
Reverse Factoring		0
Other liabilities - related parties		0
Financial liabilities by maturity ranges		R$ 570666
[1]Net debt comprises financial liabilities (note 7

Financial Risk Management (De_3

Financial Risk Management (Details 3) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Sensitivity analysis
Interest rate basis		CDI
Financial Assets	[1]	R$ 39212	R$ 292021
Marketable securities		380,514	166,349
Accounts Payable for Business Combination and acquisition of associates		(625,277)	(532,313)	R$ 48055
Lease liabilities		(140,563)	(160,542)	(173,103)
Bonds and financing		(842,996)	R$ 831226	R$ 793341
Total		(2,015,006)
Probable scenario over a 12-month horizon
Sensitivity analysis
Financial Assets		39,212
Marketable securities		380,514
Total		419,726
Accounts Payable for Business Combination and acquisition of associates		(625,277)
Lease liabilities		(140,563)
Bonds and financing		(842,996)
Total		(1,608,836)
Net exposure		R$ 1189110
Interest rate -% p.a		0%
Percentage of deterioration of the projected rates		0%
Probable scenario over a 12-month horizon | 103.40% of CDI
Sensitivity analysis
Interest rate basis		CDI
Percentage of interest rate basis		103.40%
Probable scenario over a 12-month horizon | 103.39% of CDI
Sensitivity analysis
Interest rate basis		CDI
Percentage of interest rate basis		103.39%
Probable scenario over a 12-month horizon | 100% CDI
Sensitivity analysis
Interest rate basis		CDI
Percentage of interest rate basis		100%
Probable scenario over a 12-month horizon | CDI + 1.28%
Sensitivity analysis
Interest rate basis		CDI
Adjustment to interest rate basis		1.28%
Probable scenario over a 12-month horizon | CDI + 1.66%
Sensitivity analysis
Interest rate basis		CDI
Adjustment to interest rate basis		1.66%
Probable scenario over a 12-month horizon | Base Scenario
Sensitivity analysis
Interest rate basis		CDI
Adjustment to interest rate basis		12.43%
Short-term investments, Potential gain (loss)		R$ 4874
Marketable securities, Potential gain (loss)		47,298
Total Financial Assets, Potential gain (loss)		52,172
Accounts Payable for Business Combination and acquisition of associates, Potential gain (loss)		(77,722)
Lease liabilities, Potential gain (loss)		(17,472)
Bonds and financing, Potential gain (loss)		(104,784)
Total Financial Liabilities, Potential gain (loss)		(199,978)
Net exposure, Potential gain (loss)		R$ 147806
Interest rate -% p.a		12.43%
Percentage of deterioration of the projected rates		0%
Probable scenario over a 12-month horizon | Scenario I
Sensitivity analysis
Short-term investments, Potential gain (loss)		R$ 6093
Marketable securities, Potential gain (loss)		59,122
Total Financial Assets, Potential gain (loss)		65,215
Accounts Payable for Business Combination and acquisition of associates, Potential gain (loss)		(97,152)
Lease liabilities, Potential gain (loss)		(21,840)
Bonds and financing, Potential gain (loss)		(130,981)
Total Financial Liabilities, Potential gain (loss)		(249,973)
Net exposure, Potential gain (loss)		R$ 184758
Interest rate -% p.a		15.54%
Percentage of deterioration of the projected rates		25%
Probable scenario over a 12-month horizon | Scenario II
Sensitivity analysis
Short-term investments, Potential gain (loss)		R$ 7311
Marketable securities, Potential gain (loss)		70,947
Total Financial Assets, Potential gain (loss)		78,258
Accounts Payable for Business Combination and acquisition of associates, Potential gain (loss)		(116,583)
Lease liabilities, Potential gain (loss)		(26,208)
Bonds and financing, Potential gain (loss)		(157,177)
Total Financial Liabilities, Potential gain (loss)		(299,968)
Net exposure, Potential gain (loss)		R$ 221710
Interest rate -% p.a		18.65%
Percentage of deterioration of the projected rates		50%
[1] The Company invests in short-term fixed income investment funds with daily liquidity and no material risk of change in value. Financial investments presented an average gross yield of 103 % of the annual CDI rate on December 31, 2022 (105.2 % on December 31, 202 1 ). All investments are highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value and correspond to the cash obligations for the period.

Financial Risk Management (De_4

Financial Risk Management (Details 4 - Textuals) - BRL (R$) R$ in Thousands			12 Months Ended
	Sep. 28, 2022	Aug. 06, 2021	Dec. 31, 2022
Sensitivity analysis
Interest rate basis			CDI
Estimated interest rate (as a percent)			12.43%
Probable scenario over a 12-month horizon
Sensitivity analysis
Percentage of deterioration of the projected rates			0%
Probable scenario over a 12-month horizon | Base Scenario
Sensitivity analysis
Adjustment to interest rate basis			12.43%
Interest rate basis			CDI
Percentage of deterioration of the projected rates			0%
Probable scenario over a 12-month horizon | Scenario I
Sensitivity analysis
Percentage of deterioration of the projected rates			25%
Probable scenario over a 12-month horizon | Scenario II
Sensitivity analysis
Percentage of deterioration of the projected rates			50%
Somos Sistemas de Ensino S.A. ("Somos Sistemas")
Sensitivity analysis
Issued simple debentures, not convertible	R$ 250000
Somos Sistemas de Ensino S.A. ("Somos Sistemas") | Non-current Bonds with Related Parties [member]
Sensitivity analysis
Issued simple debentures, not convertible	R$ 250000
Adjustment to interest rate basis	2.40%
Interest rate basis	100% of the CDI
Borrowings average maturity	37 months
Somos Sistemas de Ensino S.A. ("Somos Sistemas") | Non-current Bonds [member]
Sensitivity analysis
Issued simple debentures, not convertible		R$ 500000
Adjustment to interest rate basis		2.30%
Interest rate basis		100% of DI Interest Deposit rate (CDI)
Borrowings average maturity		35 months

Financial Instruments by Cate_3

Financial Instruments by Category (Details) - BRL (R$) R$ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Liabilities
Total financial liabilities		R$ 2015006
Liabilities - Amortized cost [member]
Liabilities
Total financial liabilities		2,015,006	R$ 1828139
Liabilities - Amortized cost [member] | Bonds and financing
Liabilities
Total financial liabilities		842,996	831,226
Liabilities - Amortized cost [member] | Lease liabilities
Liabilities
Total financial liabilities		140,563	160,542
Liabilities - Amortized cost [member] | Reverse factoring
Liabilities
Total financial liabilities		155,469	97,619
Liabilities - Amortized cost [member] | Suppliers
Liabilities
Total financial liabilities		250,647	167,168
Liabilities - Amortized cost [member] | Accounts payable for business combination and acquisition of associates
Liabilities
Total financial liabilities		569,360	497,187
Liabilities - Amortized cost [member] | Accounts payable for business combination and acquisition of associates | Level 3
Liabilities
Total financial liabilities	[1]	55,917	35,126
Liabilities - Amortized cost [member] | Other liabilities - related parties
Liabilities
Total financial liabilities		54	39,271
Assets - Amortized cost [member]
Assets
Total financial assets		697,631	984,362
Assets - Amortized cost [member] | Cash and cash equivalents
Assets
Total financial assets		45,765	309,893
Assets - Amortized cost [member] | Marketable securities
Assets
Total financial assets		0	166,349
Assets - Amortized cost [member] | Trade receivables
Assets
Total financial assets		649,135	505,514
Assets - Amortized cost [member] | Other receivables
Assets
Total financial assets		972	2,105
Assets - Amortized cost [member] | Related parties – other receivables
Assets
Total financial assets		1,759	501
Assets - Fair value through profit or loss [member]
Assets
Total financial assets		388,786	0
Assets - Fair value through profit or loss [member] | Marketable securities | Level 1
Assets
Total financial assets		380,514	0
Assets - Fair value through profit or loss [member] | Other investments and interests in entities | Level 1
Assets
Total financial assets		R$ 8272	R$ 0
[1]Refers to a portion of the liability remeasured based on economic activity of the acquired entity (post-closing price adjustments).

Financial Instruments by Cate_4

Financial Instruments by Category - Schedule of valuation techniques and significant unobservable inputs (Details) - Contingent consideration [member] - Level 3 of fair value hierarchy [member] R$ in Thousands	12 Months Ended
	Dec. 31, 2022 BRL (R$)
Phidelis
Financial Instruments by Category
Valuation technique	Discounted cash flows: The valuation model considers the present value of the net cash flows expected to be generated by the operation (net revenue).
Phidelis | Unobservable inputs, 1
Financial Instruments by Category
Significant unobservable inputs	1. The achievement of financial targets are linked to net revenue of the years 2023 and 2024.
Inter-relationship between signigicant unobservable and fair value measurement	The estimated fair value would increase (decrease) if: - Any product is no longer monetized (lower)
Phidelis | Unobservable inputs, 2
Financial Instruments by Category
Significant unobservable inputs	2.Revenue: we consider for the revenue projection the continuity of old contracts and new contracts with average annual revenue growth of 21.1%.
Inter-relationship between signigicant unobservable and fair value measurement	The risk-adjusted discount rates were lower (higher)
Expected weighted average annual revenue growth rate (as a percent)	21.10%
SEL
Financial Instruments by Category
Valuation technique	Discounted cash flows: The valuation model considers the present value of the net cash flows expected to be generated by the operation (net revenue).
SEL | Unobservable inputs, 1
Financial Instruments by Category
Significant unobservable inputs	1. Renewal, in writing, to the year 2023 and 2024, of the Structured Teaching Program Contract; or
Inter-relationship between signigicant unobservable and fair value measurement	The estimated fair value would increase (decrease) if:
SEL | Unobservable inputs, 2
Financial Instruments by Category
Significant unobservable inputs	2. Entering a new contract, in writing, with SESI effective for the year 2024, with or without the need for bidding, so that the Buyer continues to provide in the year of 2024 services to SESI, according to the specific scope to be defined by SESI (“Renovation Structured Teaching Program 2024”).
Inter-relationship between signigicant unobservable and fair value measurement	- No contract renewal (lower)
Redação Nota 1000
Financial Instruments by Category
Valuation technique	Discounted cash flows: The valuation model considers the present value of the net cash flows expected to be generated by the operation (net revenue).
Inter-relationship between signigicant unobservable and fair value measurement	Not applicable.
Redação Nota 1000 | Unobservable inputs, 1
Financial Instruments by Category
Significant unobservable inputs	1. Net Revenue Target 2023: R$3,952
Redação Nota 1000 | Unobservable inputs, 2
Financial Instruments by Category
Significant unobservable inputs	2. (i) 2023 Net Revenue equal to or greater than R$3,952 so = 100%, (ii) 2023 Net Revenue equal to or greater than R$2,799 and less than R$3,952 so 70%, (iii) 2023 Net Revenue equal to or greater than R$ 2,659 and less than R$2,799 so 60%, (iv) 2023 Net Revenue equal to or greater than R$2,379 and less than R$2,659 so, 40%, and (v) Net Revenue less than R$2,379 so 0%.
Redação Nota 1000 | Revenue target, 1 | Unobservable inputs, 2
Financial Instruments by Category
Net Revenue Target 2023 (as a percent)	100%
Redação Nota 1000 | Revenue target, 1 | Unobservable inputs, 2 | Minimum [member]
Financial Instruments by Category
Net Revenue Target 2023	R$ 3952
Redação Nota 1000 | Revenue target, 2 | Unobservable inputs, 2
Financial Instruments by Category
Net Revenue Target 2023 (as a percent)	70%
Redação Nota 1000 | Revenue target, 2 | Unobservable inputs, 2 | Minimum [member]
Financial Instruments by Category
Net Revenue Target 2023	R$ 2799
Redação Nota 1000 | Revenue target, 2 | Unobservable inputs, 2 | Maximum [member]
Financial Instruments by Category
Net Revenue Target 2023	R$ 3952
Redação Nota 1000 | Revenue target, 3 | Unobservable inputs, 2
Financial Instruments by Category
Net Revenue Target 2023 (as a percent)	60%
Redação Nota 1000 | Revenue target, 3 | Unobservable inputs, 2 | Minimum [member]
Financial Instruments by Category
Net Revenue Target 2023	R$ 2659
Redação Nota 1000 | Revenue target, 3 | Unobservable inputs, 2 | Maximum [member]
Financial Instruments by Category
Net Revenue Target 2023	R$ 2799
Redação Nota 1000 | Revenue target, 4 | Unobservable inputs, 2
Financial Instruments by Category
Net Revenue Target 2023 (as a percent)	40%
Redação Nota 1000 | Revenue target, 4 | Unobservable inputs, 2 | Minimum [member]
Financial Instruments by Category
Net Revenue Target 2023	R$ 2379
Redação Nota 1000 | Revenue target, 4 | Unobservable inputs, 2 | Maximum [member]
Financial Instruments by Category
Net Revenue Target 2023	R$ 2659
Redação Nota 1000 | Revenue target, 5 | Unobservable inputs, 2
Financial Instruments by Category
Net Revenue Target 2023 (as a percent)	0%
Redação Nota 1000 | Revenue target, 5 | Unobservable inputs, 2 | Maximum [member]
Financial Instruments by Category
Net Revenue Target 2023	R$ 2379
Educbank
Financial Instruments by Category
Valuation technique	Discounted cash flows: The valuation model considers the present value of the net cash flows expected to be generated by the operation (students enrolled).
Educbank | Unobservable inputs, 1
Financial Instruments by Category
Significant unobservable inputs	1. Reaching 25,000 new students effectively hired, as determined after issuing bank slips, in relation to the Company's services
Inter-relationship between signigicant unobservable and fair value measurement	The estimated fair value would increase (decrease) if:
Number of new students effectively hired	25,000
Educbank | Unobservable inputs, 2
Financial Instruments by Category
Significant unobservable inputs	2. Reaching 37,000 new students effectively hired, as determined after issuing bank slips, in relation to the Company's services.
Inter-relationship between signigicant unobservable and fair value measurement	- Not applicable.
Number of new students effectively hired	37,000

Cash and cash equivalents (Deta

Cash and cash equivalents (Details) - BRL (R$) R$ in Thousands		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash and cash equivalents.
Cash		R$ 7	R$ 100
Bank account		6,546	17,772
Financial investments	[1]	39,212	292,021
Cash and cash equivalents		R$ 45765	R$ 309893	R$ 311156	R$ 43287
Average gross yield of deposits		103%	105.20%
[1] The Company invests in short-term fixed income investment funds with daily liquidity and no material risk of change in value. Financial investments presented an average gross yield of 103 % of the annual CDI rate on December 31, 2022 (105.2 % on December 31, 202 1 ). All investments are highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value and correspond to the cash obligations for the period.

Marketable securities (Details)

Marketable securities (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Marketable securities
Marketable securities	R$ 380514	R$ 166349
Average gross yield of securities	104%	101%
Credit Risk | AAA
Marketable securities
Financial bills (LF)	R$ 0	R$ 1640
Financial treasury bills (LFT)	0	164,709
Private investment fund	31,842	0
Credit Risk | AA
Marketable securities
Private investment fund	R$ 348672	R$ 0

Trade receivables (Details)

Trade receivables (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Trade receivables
Trade receivables	R$ 711439	R$ 505190
Related Parties	7,177	46,824
Impairment losses on trade receivables	(69,481)	(46,500)	R$ 32055	R$ 22524
Total	R$ 649135	R$ 505514

Trade receivables (Details 2)

Trade receivables (Details 2) - BRL (R$) R$ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Maturities of trade receivables
Total past due	R$ 148434	R$ 87957
Related parties	7,177	46,824
Impairment losses on trade receivables	(69,481)	(46,500)	R$ 32055	R$ 22524
Total	649,135	505,514
Not yet due
Maturities of trade receivables
Total past due	563,005	417,233
Up to 30 days
Maturities of trade receivables
Total past due	19,435	9,657
From 31 to 60 days
Maturities of trade receivables
Total past due	22,637	10,331
From 61 to 90 days
Maturities of trade receivables
Total past due	12,193	7,366
From 91 to 180 days
Maturities of trade receivables
Total past due	42,169	21,154
From 181 to 360 days
Maturities of trade receivables
Total past due	31,357	23,852
Over 360 days
Maturities of trade receivables
Total past due	R$ 20643	R$ 15597

Trade receivables (Details 3)

Trade receivables (Details 3)		Dec. 31, 2022	Dec. 31, 2021
Trade receivables
Percentage of impairment losses on trade receivables recorded for the customers who went judicial recovery	[1]	100%	100%
[1] On December 31, 2022 the Company’s Management recorded R$15 million in provision for expected credit loss relating to the entirely of Vasta’s receivable for products in inventory of a large retail company in judicial recovery. The Company did not identify customers in judicial recovery as of December 31, 2021.

Trade receivables (Details 4)

Trade receivables (Details 4) - BRL (R$) R$ in Thousands		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Expected credit losses for aging
Lifetime ECL		R$ 54100	R$ 46500
Customers in judicial recovery	[1]	R$ 15381	R$ 0
Percentage of impairment losses on trade receivables recorded for the customers who went judicial recovery	[1]	100%	100%
Impairment losses on trade receivables		R$ 69481	R$ 46500	R$ 32055	R$ 22524
Not yet due
Expected credit losses for aging
Expected credit loss rate (%)		1.52%	0.30%
Lifetime ECL		R$ 8970	R$ 1263
Up to 30 days
Expected credit losses for aging
Expected credit loss rate (%)		9.53%	12.67%
Lifetime ECL		R$ 2072	R$ 1219
From 31 to 60 days
Expected credit losses for aging
Expected credit loss rate (%)		14.09%	17.01%
Lifetime ECL		R$ 2728	R$ 1769
From 61 to 90 days
Expected credit losses for aging
Expected credit loss rate (%)		19.87%	23.75%
Lifetime ECL		R$ 2335	R$ 1764
From 91 to 180 days
Expected credit losses for aging
Expected credit loss rate (%)		29.66%	35.71%
Lifetime ECL		R$ 10096	R$ 7608
From 181 to 360 days
Expected credit losses for aging
Expected credit loss rate (%)		48.35%	72.90%
Lifetime ECL		R$ 12465	R$ 17399
Over 360 days
Expected credit losses for aging
Expected credit loss rate (%)		76.40%	99.23%
Lifetime ECL		R$ 15434	R$ 15478
[1] On December 31, 2022 the Company’s Management recorded R$15 million in provision for expected credit loss relating to the entirely of Vasta’s receivable for products in inventory of a large retail company in judicial recovery. The Company did not identify customers in judicial recovery as of December 31, 2021.

Trade receivables (Details 5)

Trade receivables (Details 5) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Trade receivables
Opening balance		R$ 46500	R$ 32055	R$ 22524
Additions		45,904	39,326	29,870
Reversals		(288)	(2,854)	(4,855)
Write offs	[1]	(22,635)	(22,027)	(15,484)
Closing balance		R$ 69481	R$ 46500	R$ 32055
[1] The Company assessed its customers credit lines, on a regular basis. Due to historical losses and lack of prospects of credit recovery alongside these customers, the Company recognized R$ 22,635 as write-off as of December 31, 2022 (R$ 22,027 as of December 31, 2021).

Inventories (Details)

Inventories (Details) - BRL (R$) R$ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Inventories
Finished products	[1]	R$ 160519	R$ 160318
Work in process		73,993	51,152
Raw materials		30,773	27,081
Imports in progress		347	1,681
Right to returned goods	[2]	818	2,131
Inventories		R$ 266450	R$ 242363
[1] These amounts are net of slow-moving items and net realizable value. Represents the Company’s right to recover products from customers when customers exercise their right of return under the Company’s returns policies, where the Company estimates the volume of goods returned based on experience and foreseen expectations.

Inventories (Details 2)

Inventories (Details 2) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Inventories
Opening balance		R$ 58723	R$ 62210	R$ 69080
Additions		46,138	24,178	8,783
(Reversals)		(5,214)	(2,061)	(4,726)
Inventory losses	[1]	(15,598)	(25,604)	(10,927)
Closing balance		R$ 84049	R$ 58723	R$ 62210
[1] Refers substantially to physical books destroyed, previously provisioned, due to indication of damage or obsolescence caused by changes in the educational content during the school year.

Equity accounted investees - Sc

Equity accounted investees - Schedule of composition of investments (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2022		Dec. 31, 2021
Disclosure of associates [line items]
Investment	R$ 21966		R$ 703258
Goodwill	16,923	[1]	387,074	[2]
December 31, 2022	R$ 83139		0
Educbank
Disclosure of associates [line items]
Interest %	45%
Investment	R$ 41485
Fair value	7,868
Goodwill	33,786
December 31, 2022	R$ 83139		R$ 0
[1]Goodwill is recognized based on expected synergies from combining the operations of the acquirees and of the Company, as well as an expected increase in the Company’s market-share due to the penetration of the Company’s products and services in regions where the Company did not operate before. At the time of the acquisition, future tax deductibility is probable as certain actions, necessary to integrate the businesses from a tax perspective, are intended by management and considered feasible from a legal perspective.[2]Goodwill is recognized based on expected synergies from combining the operations of the acquirees and of the acquiror, as well as an expected increase in the Company’s market-share due to the penetration of the Company’s products and services in regions where the Company did not operate before. Also, the current tax law allows the deductibility of the acquisition date goodwill and fair value of net assets acquired when a non-substantive action is taken after acquisition by the Company (i.e. when the Company merges or spins off the companies acquired) and therefore the tax and accounting bases of the net assets acquired are the same as of the acquisition date.

Equity accounted investees - _2

Equity accounted investees - Schedule of investments without control and significant influence (Details 1) R$ in Thousands	12 Months Ended
	Dec. 31, 2022 BRL (R$)
Disclosure of associates [line items]
Equity accounted investments at beginning of period	R$ 0
Equity accounted investments at end of period	83,139
Educbank
Disclosure of associates [line items]
Equity accounted investments at beginning of period	0
Acquisition	87,651
Equity method	(4,512)
Equity accounted investments at end of period	R$ 83139

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Property, Plant and Equipment
Property, plant and equipment	R$ 197688		R$ 185682		R$ 192006
IT equipment [member]
Property, Plant and Equipment
Property, plant and equipment	R$ 36968		16,615		1,479
IT equipment [member] | Minimum [member]
Property, Plant and Equipment
Weighted average depreciation rate	10%
IT equipment [member] | Maximum [member]
Property, Plant and Equipment
Weighted average depreciation rate	33%
Furniture, equipment and fittings [member]
Property, Plant and Equipment
Property, plant and equipment	R$ 24102		8,390		9,908
Furniture, equipment and fittings [member] | Minimum [member]
Property, Plant and Equipment
Weighted average depreciation rate	10%
Furniture, equipment and fittings [member] | Maximum [member]
Property, Plant and Equipment
Weighted average depreciation rate	33%
Property, buildings and improvements [member]
Property, Plant and Equipment
Property, plant and equipment	R$ 12646		17,872		19,978
Property, buildings and improvements [member] | Minimum [member]
Property, Plant and Equipment
Weighted average depreciation rate	5%
Property, buildings and improvements [member] | Maximum [member]
Property, Plant and Equipment
Weighted average depreciation rate	20%
In progress [member]
Property, Plant and Equipment
Property, plant and equipment	R$ 4494		677		315
Right of use assets [member]
Property, Plant and Equipment
Property, plant and equipment	R$ 119086	[1]	141,737	[1]	159,873
Right of use assets [member] | Minimum [member]
Property, Plant and Equipment
Weighted average depreciation rate	6%
Right of use assets [member] | Maximum [member]
Property, Plant and Equipment
Weighted average depreciation rate	33%
Land [member]
Property, Plant and Equipment
Property, plant and equipment	R$ 391		391		R$ 453
Gross carrying amount [member]
Property, Plant and Equipment
Property, plant and equipment	456,128		389,567
Gross carrying amount [member] | IT equipment [member]
Property, Plant and Equipment
Property, plant and equipment	80,262		44,181
Gross carrying amount [member] | Furniture, equipment and fittings [member]
Property, Plant and Equipment
Property, plant and equipment	60,920		38,116
Gross carrying amount [member] | Property, buildings and improvements [member]
Property, Plant and Equipment
Property, plant and equipment	53,027		54,508
Gross carrying amount [member] | In progress [member]
Property, Plant and Equipment
Property, plant and equipment	4,494		677
Gross carrying amount [member] | Right of use assets [member]
Property, Plant and Equipment
Property, plant and equipment	257,034		251,694
Gross carrying amount [member] | Land [member]
Property, Plant and Equipment
Property, plant and equipment	391		391
Accumulated depreciation and amortisation [member]
Property, Plant and Equipment
Property, plant and equipment	(258,441)		(203,885)
Accumulated depreciation and amortisation [member] | IT equipment [member]
Property, Plant and Equipment
Property, plant and equipment	(43,294)		(27,565)
Accumulated depreciation and amortisation [member] | Furniture, equipment and fittings [member]
Property, Plant and Equipment
Property, plant and equipment	(36,818)		(29,726)
Accumulated depreciation and amortisation [member] | Property, buildings and improvements [member]
Property, Plant and Equipment
Property, plant and equipment	(40,381)		(36,636)
Accumulated depreciation and amortisation [member] | In progress [member]
Property, Plant and Equipment
Property, plant and equipment	0		0
Accumulated depreciation and amortisation [member] | Right of use assets [member]
Property, Plant and Equipment
Property, plant and equipment	(137,948)		(109,957)
Accumulated depreciation and amortisation [member] | Land [member]
Property, Plant and Equipment
Property, plant and equipment	R$ 0		R$ 0
[1]Refers to recognition of new lease agreements of R$ 12,002 which the Company considers as part of its digital learning solutions through computer tablets that have been part of current learning system solutions. See the corresponding lease liabilities in Note 17

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of changes in property, plant and equipment (Details 1) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Property, Plant and Equipment
Beginning balance		R$ 185682		R$ 192006
Additions		73,145		45,975	[1]
Additions through business combinations		72		2,011
Renegotiation	[2]			(12,439)
Disposals / Cancelled contracts		(3,820)		(3,410)
Depreciation		(57,391)		(38,461)
Transfers		0		0
Ending balance		197,688		185,682		R$ 192006
Recognition of new lease agreements		12,002		25,513		35,925
IT equipment [member]
Property, Plant and Equipment
Beginning balance		16,615		1,479
Additions		35,086		16,105	[1]
Additions through business combinations		54		1,041
Renegotiation	[2]			0
Disposals / Cancelled contracts		0		0
Depreciation		(15,727)		(2,010)
Transfers		941		0
Ending balance		36,968		16,615		1,479
Furniture, equipment and fittings [member]
Property, Plant and Equipment
Beginning balance		8,390		9,908
Additions		21,571		1,028	[1]
Additions through business combinations		12		835
Renegotiation	[2]			0
Disposals / Cancelled contracts		(6)		(124)
Depreciation		(5,379)		(3,319)
Transfers		(486)		62
Ending balance		24,102		8,390		9,908
Property, buildings and improvements [member]
Property, Plant and Equipment
Beginning balance		17,872		19,978
Additions		657		597	[1]
Additions through business combinations		0		135
Renegotiation	[2]			0
Disposals / Cancelled contracts		0		0
Depreciation		(5,428)		(5,208)
Transfers		(455)		2,370
Ending balance		12,646		17,872		19,978
In progress [member]
Property, Plant and Equipment
Beginning balance		677		315
Additions		3,829		2,732	[1]
Additions through business combinations		6		0
Renegotiation	[2]			0
Disposals / Cancelled contracts		(18)		0
Depreciation		0		0
Transfers		0		(2,370)
Ending balance		4,494		677		315
Right of use assets [member]
Property, Plant and Equipment
Beginning balance		141,737	[3]	159,873
Additions		12,002	[3]	25,513	[1]
Additions through business combinations		0	[3]	0
Renegotiation	[2]			(12,439)
Disposals / Cancelled contracts		(3,796)	[3]	(3,286)
Depreciation		(30,857)	[3]	(27,924)
Transfers		0	[3]	0
Ending balance		119,086	[3]	141,737	[3]	159,873
Recognition of new lease agreements		12,002		25,513
Land [member]
Property, Plant and Equipment
Beginning balance		391		453
Additions		0		0	[1]
Additions through business combinations		0		0
Renegotiation	[2]			0
Disposals / Cancelled contracts		0		0
Depreciation		0		0
Transfers		0		(62)
Ending balance		R$ 391		R$ 391		R$ 453
[1] Refers substantially to recognition of new lease agreements of R$ 25,513 which the Company considers as part of its digital learning solutions through computer tablets that have been part of current learning system solutions. See the corresponding lease liabilities in Note 17 The Company returned part of the São José dos Campos warehouse to the lessor in September 2021, maintaining the lease agreement and term, changing only in the subsequent lease installments leading to the reversal adjustments of the right-of-use asset and corresponding lease liabilities. 17

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021		Dec. 31, 2020
Intangible Assets and Goodwill
Intangible assets and goodwill	R$ 5427676	R$ 5538367	[1]	R$ 4924726
Software [member]
Intangible Assets and Goodwill
Weighted average amortization rate	20%
Intangible assets and goodwill	R$ 80722	96,045	[1]	83,414
Customer Portfolio [member]
Intangible Assets and Goodwill
Weighted average amortization rate	8%
Intangible assets and goodwill	R$ 823183	922,105	[1]	928,858
Trademarks [member]
Intangible Assets and Goodwill
Weighted average amortization rate	5%
Intangible assets and goodwill	R$ 518615	546,358	[1]	573,586
Trade Agreement
Intangible Assets and Goodwill
Weighted average amortization rate	8%
Intangible assets and goodwill	R$ 218827	243,495	[1]	0
Platform content production [member]
Intangible Assets and Goodwill
Weighted average amortization rate	33%
Intangible assets and goodwill	R$ 48370	24,294	[1]	23,821	[2]
Other Intangible assets [member]
Intangible Assets and Goodwill
Weighted average amortization rate	33%
Intangible assets and goodwill	R$ 7280	7,281	[1]	6,243
In progress [member]
Intangible Assets and Goodwill
Intangible assets and goodwill	18,958	3,991	[1]	999
Goodwill [member]
Intangible Assets and Goodwill
Intangible assets and goodwill	3,711,721	3,694,798	[1]	R$ 3307805	[3]
Cost [member]
Intangible Assets and Goodwill
Intangible assets and goodwill	6,237,063	6,136,432
Cost [member] | Software [member]
Intangible Assets and Goodwill
Intangible assets and goodwill	263,433	247,326
Cost [member] | Customer Portfolio [member]
Intangible Assets and Goodwill
Intangible assets and goodwill	1,201,074	1,197,381
Cost [member] | Trademarks [member]
Intangible Assets and Goodwill
Intangible assets and goodwill	631,582	632,016
Cost [member] | Trade Agreement
Intangible Assets and Goodwill
Intangible assets and goodwill	247,622	247,622
Cost [member] | Platform content production [member]
Intangible Assets and Goodwill
Intangible assets and goodwill	123,251	73,877
Cost [member] | Other Intangible assets [member]
Intangible Assets and Goodwill
Intangible assets and goodwill	39,422	39,421
Cost [member] | In progress [member]
Intangible Assets and Goodwill
Intangible assets and goodwill	18,958	3,991
Cost [member] | Goodwill [member]
Intangible Assets and Goodwill
Intangible assets and goodwill	3,711,721	3,694,798
Accumulated amortization [member]
Intangible Assets and Goodwill
Intangible assets and goodwill	(809,387)	(598,065)
Accumulated amortization [member] | Software [member]
Intangible Assets and Goodwill
Intangible assets and goodwill	(182,711)	(151,281)
Accumulated amortization [member] | Customer Portfolio [member]
Intangible Assets and Goodwill
Intangible assets and goodwill	(377,891)	(275,276)
Accumulated amortization [member] | Trademarks [member]
Intangible Assets and Goodwill
Intangible assets and goodwill	(112,967)	(85,658)
Accumulated amortization [member] | Trade Agreement
Intangible Assets and Goodwill
Intangible assets and goodwill	(28,795)	(4,127)
Accumulated amortization [member] | Platform content production [member]
Intangible Assets and Goodwill
Intangible assets and goodwill	(74,881)	(49,583)
Accumulated amortization [member] | Other Intangible assets [member]
Intangible Assets and Goodwill
Intangible assets and goodwill	(32,142)	(32,140)
Accumulated amortization [member] | In progress [member]
Intangible Assets and Goodwill
Intangible assets and goodwill	0	0
Accumulated amortization [member] | Goodwill [member]
Intangible Assets and Goodwill
Intangible assets and goodwill	R$ 0	R$ 0
[1] Considers the review of goodwill and intangibles assets of the acquisition of EMME and Redação Nota Mil, acquired during the year 2021. Substantially refers to development of the projects related to Plurall Platform. The Company has invested in changes in its digital platform that include “Plurall Digital Transformation” in the amount of R$ 20,808 million, and project related to learning systems, in the amount of R$ 9,509 million. The Company recognized R$ 387,074 Nota 1000 5

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill (Details 2) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2022		Dec. 31, 2021
Intangible Assets and Goodwill
Balance at beginning of the period		R$ 5538367	[1]	R$ 4924726
Additions		90,587		55,916
Additions through business combinations		23,981		730,419
Disposals		(13,937)
Amorization		(211,323)		(172,695)
Transfers				0
Balance at end of the period		5,427,676		5,538,367	[1]
Software [member]
Intangible Assets and Goodwill
Balance at beginning of the period		96,045	[1]	83,414
Additions		12,881		25,560
Additions through business combinations		3,225		11,036
Disposals		0
Amorization		(31,430)		(30,482)
Transfers				6,517
Balance at end of the period		80,722		96,045	[1]
Customer Portfolio [member]
Intangible Assets and Goodwill
Balance at beginning of the period		922,105	[1]	928,858
Additions		0		0
Additions through business combinations		3,833		83,589
Disposals		(140)
Amorization		(102,615)		(90,342)
Transfers				0
Balance at end of the period		823,183		922,105	[1]
Trademarks [member]
Intangible Assets and Goodwill
Balance at beginning of the period		546,358	[1]	573,586
Additions		0		0
Additions through business combinations		0		0
Disposals		(434)
Amorization		(27,309)		(27,309)
Transfers				0
Balance at end of the period		518,615		546,358	[1]
Trade Agreement
Intangible Assets and Goodwill
Balance at beginning of the period		243,495	[1]	0
Additions		0		0
Additions through business combinations		0		247,622
Disposals		0
Amorization		(24,668)		(4,127)
Transfers				0
Balance at end of the period		218,827		243,495	[1]
Platform content production [member]
Intangible Assets and Goodwill
Balance at beginning of the period		24,294	[1]	23,821	[2]
Additions		62,722		20,808	[2]
Additions through business combinations		0		0	[2]
Disposals		(13,348)
Amorization		(25,298)		(20,335)	[2]
Transfers	[2]			0
Balance at end of the period		48,370		24,294	[1]
Other Intangible assets [member]
Intangible Assets and Goodwill
Balance at beginning of the period		7,281	[1]	6,243
Additions		17		39
Additions through business combinations		0		1,099
Disposals		(15)
Amorization		(3)		(100)
Transfers				0
Balance at end of the period		7,280		7,281	[1]
In progress [member]
Intangible Assets and Goodwill
Balance at beginning of the period		3,991	[1]	999
Additions		14,967		9,509
Additions through business combinations		0		0
Disposals		0
Amorization		0		0
Transfers				(6,517)
Balance at end of the period		18,958		3,991	[1]
Goodwill [member]
Intangible Assets and Goodwill
Balance at beginning of the period		3,694,798	[1]	3,307,805	[3]
Additions		0		0	[3]
Additions through business combinations		16,923		387,074	[3]
Disposals		0
Amorization		0		0	[3]
Transfers	[3]			0
Balance at end of the period		3,711,721		3,694,798	[1]
Previously stated [member]
Intangible Assets and Goodwill
Balance at beginning of the period		5,538,367
Balance at end of the period				5,538,367
Previously stated [member] | Software [member]
Intangible Assets and Goodwill
Balance at beginning of the period		96,045
Balance at end of the period				96,045
Previously stated [member] | Customer Portfolio [member]
Intangible Assets and Goodwill
Balance at beginning of the period		922,105
Balance at end of the period				922,105
Previously stated [member] | Trademarks [member]
Intangible Assets and Goodwill
Balance at beginning of the period		546,277
Balance at end of the period				546,277
Previously stated [member] | Trade Agreement
Intangible Assets and Goodwill
Balance at beginning of the period		243,495
Balance at end of the period				243,495
Previously stated [member] | Platform content production [member]
Intangible Assets and Goodwill
Balance at beginning of the period	[2]	24,294
Balance at end of the period	[2]			24,294
Previously stated [member] | Other Intangible assets [member]
Intangible Assets and Goodwill
Balance at beginning of the period		7,281
Balance at end of the period				7,281
Previously stated [member] | In progress [member]
Intangible Assets and Goodwill
Balance at beginning of the period		3,991
Balance at end of the period				3,991
Previously stated [member] | Goodwill [member]
Intangible Assets and Goodwill
Balance at beginning of the period	[3]	R$ 3694879
Balance at end of the period	[3]			R$ 3694879
[1] Considers the review of goodwill and intangibles assets of the acquisition of EMME and Redação Nota Mil, acquired during the year 2021. Substantially refers to development of the projects related to Plurall Platform. The Company has invested in changes in its digital platform that include “Plurall Digital Transformation” in the amount of R$ 20,808 million, and project related to learning systems, in the amount of R$ 9,509 million. The Company recognized R$ 387,074 Nota 1000 5

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill (Details 3) - Cash-generating units [member] - BRL (R$) R$ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Intangible Assets and Goodwill
Goodwill	R$ 3711721	R$ 3694879
Content & EdTech Platform
Intangible Assets and Goodwill
Goodwill	3,674,034	3,674,036
Digital Services Platform
Intangible Assets and Goodwill
Goodwill	R$ 37687	R$ 20843

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill (Details 4) - Cash-generating units [member]	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Content & EdTech Platform
Intangible Assets and Goodwill
Growth rate - %	13.70%	14.40%
Discount rate - %	12.10%	10.81%
Growth rate (%) in perpetuity	4.70%	5.80%
Years projected	8 years	8 years
Digital Services Platform
Intangible Assets and Goodwill
Growth rate - %	12.50%	9.70%
Discount rate - %	12.10%	10.81%
Growth rate (%) in perpetuity	4.70%	5.80%
Years projected	8 years	8 years

Intangible Assets and Goodwil_6

Intangible Assets and Goodwill (Details 5) R$ in Thousands	12 Months Ended
	Dec. 31, 2022 BRL (R$) Item	Dec. 31, 2021 BRL (R$)
Intangible Assets and Goodwill
Number of CGUs | Item	2
Goodwill recognized through business combinations	R$ 387074
Forecast period of cash flow projections	8 years
Impairment of intangible assets	R$ 0	R$ 0
Plurall Digital Transformation [member]
Intangible Assets and Goodwill
Amount invested for development project	20,808,000
Learning Systems [member]
Intangible Assets and Goodwill
Amount invested for development project	R$ 9509000

Bonds and financing (Details)

Bonds and financing (Details) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Bonds and financing
Bonds and financing at beginning of period		R$ 831226		R$ 793341
Additions		250,000	[1]	500,000	[2]
Payment of interest		(92,500)	[3]	(24,922)	[4]	R$ 49404
Payment of principal		(255,644)	[3]	(477,741)	[4]
Interest accrued		108,896		43,549
Transaction cost of bonds		1,018		(3,000)
Transfers		0		0
Bonds and financing at end of period		842,996		831,226		793,341
Current liabilities
Bonds and financing
Bonds and financing at beginning of period		281,491		502,882
Additions		0	[1]	0	[2]
Payment of interest		(92,500)	[3]	(24,922)	[4]
Payment of principal		(255,644)	[3]	(477,741)	[4]
Interest accrued		108,896		43,549
Transaction cost of bonds		1,018		(993)
Transfers		50,518		238,717
Bonds and financing at end of period		93,779		281,491		502,882
Current Bonds with Related Parties [member]
Bonds and financing
Bonds and financing at beginning of period		264,673		502,743
Additions		0	[1]	0	[2]
Payment of interest		(33,921)	[3]	(24,873)	[4]
Payment of principal		(254,885)	[3]	(477,564)	[4]
Interest accrued		36,573		25,859
Transaction cost of bonds		0		0
Transfers		50,885		238,509
Bonds and financing at end of period		63,325		264,673		502,743
Current Bonds [Member]
Bonds and financing
Bonds and financing at beginning of period		16,581		0
Additions		0	[1]	0	[2]
Payment of interest		(58,425)	[3]	0	[4]
Payment of principal		0	[3]	0	[4]
Interest accrued		72,298		17,574
Transaction cost of bonds		1,018		(993)
Transfers		(1,018)		0
Bonds and financing at end of period		30,454		16,581		0
Current Financing [member]
Bonds and financing
Bonds and financing at beginning of period		237		139
Additions		0	[1]	0	[2]
Payment of interest		(154)	[3]	(49)	[4]
Payment of principal		(759)	[3]	(177)	[4]
Interest accrued		25		116
Transaction cost of bonds		0		0
Transfers		651		208
Bonds and financing at end of period		0		237		139
Non-current liabilities
Bonds and financing
Bonds and financing at beginning of period		549,735		290,459
Additions		250,000	[1]	500,000	[2]
Payment of interest		0	[3]	0	[4]
Payment of principal		0	[3]	0	[4]
Interest accrued		0		0
Transaction cost of bonds		0		(2,007)
Transfers		(50,518)		(238,717)
Bonds and financing at end of period		749,217		549,735		290,459
Non-current Bonds with Related Parties [member]
Bonds and financing
Bonds and financing at beginning of period	[4]	51,091		289,600
Additions		250,000	[1]	0	[4]
Payment of interest		0	[3]	0	[4]
Payment of principal		0	[3]	0	[4]
Interest accrued		0		0	[4]
Transaction cost of bonds		0		0
Transfers		(50,885)		(238,509)	[4]
Bonds and financing at end of period		250,206		51,091	[4]	289,600	[4]
Non-current Bonds [Member]
Bonds and financing
Bonds and financing at beginning of period		497,993		0
Additions		0	[1]	500,000	[2]
Payment of interest		0	[3]	0	[4]
Payment of principal		0	[3]	0	[4]
Interest accrued		0		0
Transaction cost of bonds		0		(2,007)
Transfers		1,018		0
Bonds and financing at end of period		499,011		497,993		0
Non-current Financing [member]
Bonds and financing
Bonds and financing at beginning of period		651		859
Additions		0	[1]	0	[2]
Payment of interest		0	[3]	0	[4]
Payment of principal		0	[3]	0	[4]
Interest accrued		0		0
Transaction cost of bonds		0		0
Transfers		(651)		(208)
Bonds and financing at end of period		R$ 0		R$ 651		R$ 859
[1] On September 28, 2022, the Company issued simple debentures not convertible into shares, subject to remunerative interest of 100% of the CDI , plus a spread of 2.40 % per year, in the total amount of R$ 250,000 . The debentures aim to strengthen the Company's capital structure and lengthen the maturity profile of the debt, whose average term has become 37 months . On August 6, 2021, the subsidiary de S.A. issued R$ 500 million in simple debentures not convertible into shares, subject to compensatory interest of 100% of DI Interest Deposit rate (CDI) , plus spread of 2.30 % per year. The debentures are aimed at reinforcing the Company’s capital structure and elongating the debt maturity profile, which average maturity now stands at 35 months . We present below the composition of interest and principal payments considering the issues made:

Bonds and financing - Schedule

Bonds and financing - Schedule of composition of interest and principal payments of bonds and financing (Details 1) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2022		Dec. 31, 2021	[2]	Dec. 31, 2020
Bonds and financing
Payment of interest	R$ 92500	[1]	R$ 24922		R$ 49404
Payment of principal	(255,644)	[1]	(477,741)
Current Bonds with Related Parties [member]
Bonds and financing
Payment of interest	(33,921)	[1]	(24,873)
Payment of principal	(254,885)	[1]	(477,564)
Current Bonds
Bonds and financing
Payment of interest	(58,425)	[1]	0
Payment of principal	R$ 0	[1]	0
Current Bonds | SSED21 – 6th. SOMOS – 2nd. Série
Bonds and financing
Payments	02/15/2022 and 08/11/2022
Payment of interest	R$ 10792
Payment of principal	R$ 50885
Current Bonds | SEDU21 – 7th. SOMOS 2nd. Série
Bonds and financing
Payments	02/15/2022 and 08/11/2022
Payment of interest	R$ 23129
Payment of principal	R$ 204000
Current Bonds | GAGL11 - Somos Sistemas
Bonds and financing
Payments	02/07/2022 and 08/05/2022
Payment of interest	R$ 58425
Payment of principal	R$ 0
Current Financing [member]
Bonds and financing
Payments	06/22/2022
Payment of interest	R$ 154	[1]	(49)
Payment of principal	R$ 759	[1]	R$ 177
[1] We present below the composition of interest and principal payments considering the issues made:

Bonds and financing - Parenthet

Bonds and financing - Parentheticals (Details 2) - BRL (R$) R$ in Thousands					12 Months Ended
	Sep. 28, 2022	Aug. 06, 2021	May 31, 2021	Mar. 15, 2021	Dec. 31, 2022		Dec. 31, 2021
Bonds and financing
Borrowings, interest rate basis					CDI
Payment of borrowings principal					R$ 255644	[1]	R$ 477741	[2]
Somos Sistemas De Ensino S.A. [Member]
Bonds and financing
Issued simple debentures, not convertible	R$ 250000
Non-current Bonds with related parties [member]
Bonds and financing
Payment of borrowings principal					0	[1]	0	[2]
Non-current Bonds with related parties [member] | Somos Sistemas De Ensino S.A. [Member]
Bonds and financing
Borrowings, interest rate basis	100% of the CDI
Borrowings, adjustment to interest rate basis	2.40%
Issued simple debentures, not convertible	R$ 250000
Borrowings average maturity	37 months
Current Bonds with related parties [member]
Bonds and financing
Payment of borrowings principal					254,885	[1]	477,564	[2]
Current Bonds with related parties [member] | Bonds, 5th Issuance, 1st series [member]
Bonds and financing
Payment of borrowings principal				R$ 100000
Payment of borrowings interest				1,488
Payment of borrowings principal and interest				101,488
Current Bonds with related parties [member] | Bonds, 5th Issuance, 2nd series [member]
Bonds and financing
Payment of borrowings interest		R$ 2029		1,451
Current Bonds with related parties [member] | Bonds, 6th Issuance, 2nd series [member]
Bonds and financing
Payment of borrowings interest		4,758		3,613
Current Bonds with related parties [member] | Bonds, 7th Issuance, single series [member]
Bonds and financing
Payment of borrowings principal		189,564	R$ 188000
Payment of borrowings interest		R$ 5871		R$ 5663
Current Financing [member]
Bonds and financing
Payment of borrowings principal					759	[1]	177	[2]
Current Financing [member] | Banco de Desenvolvimento de Minas Gerais SA [member]
Bonds and financing
Periodic payment of borrowings by monthly, principal							15
Periodic payment of borrowings by monthly, interest							4
Payment of borrowings principal							177
Payment of borrowings interest							49
Non-current Bonds [Member]
Bonds and financing
Payment of borrowings principal					R$ 0	[1]	R$ 0	[2]
Non-current Bonds [Member] | Somos Sistemas De Ensino S.A. [Member]
Bonds and financing
Borrowings, interest rate basis		100% of DI Interest Deposit rate (CDI)
Borrowings, adjustment to interest rate basis		2.30%
Issued simple debentures, not convertible		R$ 500000
Borrowings average maturity		35 months
[1] We present below the composition of interest and principal payments considering the issues made:

Bonds and financing - Schedul_2

Bonds and financing - Schedule of bonds' description (Details 3) R$ in Thousands	12 Months Ended
	Dec. 31, 2022 BRL (R$)
Bonds and financing
Financials charges	CDI
Bonds with Related Parties [member] | Bonds, 5th Issuance, 2nd series [member]
Bonds and financing
Date of issuance	08/15/2018
Maturity Date	08/15/2023
First payment after	60 months
Remuneration payment	Semi-annual interest
Financials charges	CDI + 1.00% p.a.
Principal amount	R$ 100
Bonds with Related Parties [member] | Bonds, 9th Issuance, 2nd series [member]
Bonds and financing
Date of issuance	09/28/2022
Maturity Date	09/28/2025
First payment after	36 months
Remuneration payment	Semi-annual interest
Financials charges	CDI + 2.40% p.a.
Principal amount	R$ 250
Bond [Member] | Bonds 1st Issuance Single Series [Member]
Bonds and financing
Date of issuance	08/06/2021
Maturity Date	08/05/2024
First payment after	35 months
Remuneration payment	Semi-annual interest
Financials charges	CDI + 2.30% p.a.
Principal amount	R$ 500

Bonds and financing - Schedul_3

Bonds and financing - Schedule of bonds and financing maturities (Details 4) - BRL (R$) R$ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Bonds and financing
Current bonds and financing	R$ 93779	R$ 281491
Total non-current liabilities	749,217	549,735
Total bonds and financing	R$ 842996	R$ 831226	R$ 793341
Percentage of non-current bonds and financing	88.90%	66.10%
Percentage of bonds and financing	100%	100%
2023 [member]
Bonds and financing
Current bonds and financing	R$ 93779	R$ 281491
Total bonds and financing	R$ 93779
Percentage of current bonds and financing	11.10%	33.90%
2024 [member]
Bonds and financing
Total non-current liabilities	R$ 499217	R$ 51063
Total bonds and financing	R$ 499217
Percentage of non-current bonds and financing	59.20%	6.10%
2025 [member]
Bonds and financing
Total non-current liabilities	R$ 250000	R$ 498672
Percentage of non-current bonds and financing	29.70%	60%

Bonds and financing (Details 5

Bonds and financing (Details 5 - Textuals) - BRL (R$) R$ in Thousands		12 Months Ended
	Nov. 19, 2019	Dec. 31, 2022		Dec. 31, 2021
Bonds and financing
Contribution of bonds		R$ 250000	[1]	R$ 500000	[2]
Bonds with Related Parties [member]
Bonds and financing
Contribution of bonds	R$ 1535800
Percentage of proceeds from bonds issued to be use for repay upon any liquidity event	50%
Bonds with third parties [member]
Bonds and financing
Percentage of net debt adjusted EBITDA ratio		2.74%		4.47%
Number of consecutive periods		2
Number of alternate periods		3
Bonds with third parties [member] | 2021 [member]
Bonds and financing
Percentage of net debt adjusted EBITDA ratio		4.25%
Bonds with third parties [member] | 2022 [member]
Bonds and financing
Percentage of net debt adjusted EBITDA ratio		4%
Bonds with third parties [member] | 2023 [member]
Bonds and financing
Percentage of net debt adjusted EBITDA ratio		3.75%
Bonds with third parties [member] | 2024 [member]
Bonds and financing
Percentage of net debt adjusted EBITDA ratio		3.50%
[1] On September 28, 2022, the Company issued simple debentures not convertible into shares, subject to remunerative interest of 100% of the CDI , plus a spread of 2.40 % per year, in the total amount of R$ 250,000 . The debentures aim to strengthen the Company's capital structure and lengthen the maturity profile of the debt, whose average term has become 37 months . On August 6, 2021, the subsidiary de S.A. issued R$ 500 million in simple debentures not convertible into shares, subject to compensatory interest of 100% of DI Interest Deposit rate (CDI) , plus spread of 2.30 % per year. The debentures are aimed at reinforcing the Company’s capital structure and elongating the debt maturity profile, which average maturity now stands at 35 months .

Suppliers (Details)

Suppliers (Details) - BRL (R$) R$ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Suppliers
Local suppliers		R$ 215593	R$ 132124
Related parties		13,781	19,534
Copyright		21,273	15,510
Suppliers		250,647	167,168
Reverse factoring	[1]	R$ 155469	R$ 97619
[1] As of December 31, 2022, the balance of reverse factoring was R$ 155,469 (R$ 97,619 as of December 31, 2021), and the discount rates of assignment operations carried out by our suppliers with financial institutions had a weighted average of 1.27% per month (as of December 31, 2021, the weighted average was 1.05% per month) and a maximum payment term of 360 days. The balance is initially recognized net of the present value adjustment, which is subsequently recognized as a financial expense.

Suppliers (Details 1 - Textuals

Suppliers (Details 1 - Textuals) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Suppliers
Reverse factoring	[1]	R$ 155469	R$ 97619
Weighted average discount rates per month of assignment operations carried out by suppliers with financial institutions for reverse factoring transaction		1.27%	1.05%
Maximum maturity period of reverse factoring		360 days
[1] As of December 31, 2022, the balance of reverse factoring was R$ 155,469 (R$ 97,619 as of December 31, 2021), and the discount rates of assignment operations carried out by our suppliers with financial institutions had a weighted average of 1.27% per month (as of December 31, 2021, the weighted average was 1.05% per month) and a maximum payment term of 360 days. The balance is initially recognized net of the present value adjustment, which is subsequently recognized as a financial expense.

Lease liabilities (Details)

Lease liabilities (Details) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lease liabilities.
Average term of lease agreements (in years)		7 years
Weighted average rate (%)		14.32%
Reconciliation of changes in lease liabilities
Opening balance		R$ 160542	R$ 173103
Additions for new lease agreements	[1]	12,002	25,513
Renegotiation		0	(12,439)
Cancelled contracts		(3,180)	(3,481)	R$ 3429
Renegotiation - COVID-19 impact		0	(448)
Interest		13,143	14,984
Payment of interest		(14,941)	(14,692)	(14,675)
Payment of principal		(27,003)	(21,998)	(12,835)
Closing balance		140,563	160,542	173,103
Current liabilities		23,151	26,636
Non-current liabilities		117,412	133,906
Total		R$ 140563	160,542	R$ 173103
Term of new sublease agreements (in months)		36 months
Minimum weighted average rate (%)		10.30%
Maximum weighted average rate (%)		10.90%
Short-term lease period (in months)		12 months
Fixed and variable lease payments, including those related to short-term contracts and to low-value assets
Fixed Payments		R$ 41944	36,689
Payments related to short-term contracts and low value assets, variable price contracts		18,312	17,775
Total		R$ 60256	R$ 54464
[1]Refers to new lease agreements which the Company has embedded part of its digital learning solutions. These lease agreements (digital learning) refer to lease terms of 36 months, with rates negotiated in the range of 10.3% p.a to 10.9% p.a.

Contractual obligations and d_3

Contractual obligations and deferred income (Details) - BRL (R$) R$ in Thousands		1 Months Ended
		Mar. 31, 2018	Dec. 31, 2022	Dec. 31, 2021
Contract obligations and deferred income
Contractual obligations and deferred income			R$ 57852	R$ 46165
Current			57,852	46,037
Non-current			0	128
Contractual obligations and deferred income			57,852	46,165
Refund liability
Contract obligations and deferred income
Contractual obligations and deferred income	[1]		51,533	37,122
Contractual obligations and deferred income	[1]		51,533	37,122
Contract of exclusivity for processing payroll
Contract obligations and deferred income
Contractual obligations and deferred income			587	783
Contractual obligations and deferred income			587	783
Deferred income in leaseback agreement
Contract obligations and deferred income
Contractual obligations and deferred income	[2]		4,075	5,678
Contractual obligations and deferred income	[2]		4,075	5,678
Other contractual obligations
Contract obligations and deferred income
Contractual obligations and deferred income			1,657	2,582
Contractual obligations and deferred income			R$ 1657	R$ 2582
Somos - Anglo (Predecessor) | Deferred income in leaseback agreement
Contract obligations and deferred income
Proceeds from sale of property, plant and equipment		R$ 25500
Deferred income		R$ 9104
Lease term of the property		120 months
[1] Refers to the customer’s right to return products, as mentioned in Note 11 In March 2018, the predecessor Somos-Anglo entered into a sales and leaseback agreement of a property located at Avenida João Dias in the city of São Paulo in the amount of R$ 25,500. This transaction included deferred income of R$ 9,104, which has been appropriated according to the lease term of the property (120 months).

Accounts payable for business_3

Accounts payable for business combination and acquisition of associates (Details) - BRL (R$) R$ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts payable for business combination and acquisition of associates
Current	R$ 73007	R$ 20502
Non-current	552,270	511,811
Total	625,277	532,313	R$ 48055
Pluri
Accounts payable for business combination and acquisition of associates
Total	3,653	3,251
Mind Makers
Accounts payable for business combination and acquisition of associates
Total	7,915	7,044
Livro Fácil
Accounts payable for business combination and acquisition of associates
Total	10,516	14,055
Meritt
Accounts payable for business combination and acquisition of associates
Total	300	3,347
SEL
Accounts payable for business combination and acquisition of associates
Total	30,267	26,935
Redação Nota 1000
Accounts payable for business combination and acquisition of associates
Total	6,030	7,230
EMME
Accounts payable for business combination and acquisition of associates
Total	10,827	12,780
Editora De Gouges S.A ("De Gouges")
Accounts payable for business combination and acquisition of associates
Total	514,299	457,671
Phidelis
Accounts payable for business combination and acquisition of associates
Total	16,976	0
Educbank
Accounts payable for business combination and acquisition of associates
Total	R$ 24494	R$ 0

Accounts payable for business_4

Accounts payable for business combination and acquisition of associates (Details 2) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of changes in accounts payable for business combination and acquisition of associates
Opening balance	R$ 532313	R$ 48055
Additions	120,344	703,257
Cash payment	(80,939)	(205,280)
Payments in installments	(11,379)	(19,168)	R$ 0
Interest payment	(603)	(1,571)	0
Interest adjustment	65,725	8,158
Remeasurement	(184)	(1,138)
Closing balance	R$ 625277	R$ 532313	R$ 48055

Accounts payable for business_5

Accounts payable for business combination and acquisition of associates (Details 3) - BRL (R$) R$ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts payable for business combination and acquisition of associates
Total	R$ 625277	R$ 532313	R$ 48055
Total (%)	100%	100%
In up to one year [member]
Accounts payable for business combination and acquisition of associates
Total	R$ 73007	R$ 20502
Total (%)	11.70%	3.90%
One to two years [member]
Accounts payable for business combination and acquisition of associates
Total	R$ 389186	R$ 35685
Total (%)	62.20%	6.70%
Two to three years [member]
Accounts payable for business combination and acquisition of associates
Total	R$ 163084	R$ 166730
Total (%)	26.10%	31.30%
Three years on [member]
Accounts payable for business combination and acquisition of associates
Total	R$ 0	R$ 309396
Total (%)	0%	58.10%

Salaries and Social Contribut_3

Salaries and Social Contribution (Details) - BRL (R$) R$ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Salaries and Social Contribution
Salaries payable		R$ 28351	R$ 22348
Social contribution payable	[1]	25,205	23,926
Provision for vacation pay and 13th salary		21,454	10,616
Provision for profit sharing	[2]	25,047	5,923
Others		0	16
Total		R$ 100057	R$ 62829
[1] Refers to the effect of social contribution over restricted share units' compensation plans issued on July 31 and November 10, 2020. The Company records the taxes over the shares on a monthly basis . The provision for profit sharing is based on qualitative and quantitative metrics determined by Management.

Related parties (Details)

Related parties (Details) - BRL (R$) R$ in Thousands		Dec. 31, 2022		Dec. 31, 2021
Related parties
Other receivables		R$ 1759	[1]	R$ 501	[2]
Trade receivables		7,177		46,824
Indemnification asset		180,417		160,470
Other payments		54		39,271	[3]
Suppliers		13,781		19,533
Bonds		313,531		315,764
Acel Administracao de Cursos Educacionais Ltda
Related parties
Other receivables	[2]			0
Trade receivables				6,482
Indemnification asset				0
Other payments	[3]			0
Suppliers				474
Bonds				0
Anhanguera Educacional Participacoes S.A.
Related parties
Other receivables	[2]			0
Trade receivables				413
Indemnification asset				0
Other payments	[3]			0
Suppliers				0
Bonds				0
Centro Educacional Leonardo Da Vinci SS
Related parties
Other receivables	[2]			0
Trade receivables				0
Indemnification asset				0
Other payments	[3]			0
Suppliers				6
Bonds				0
Cogna Educacao S.A.
Related parties
Other receivables		0	[1]	0	[2]
Trade receivables		0		0
Indemnification asset		180,417		160,470
Other payments		0		3,021	[3]
Suppliers		3,828		0
Bonds		313,531		315,764
Colegio Ambiental Ltda
Related parties
Other receivables	[2]			0
Trade receivables				805
Indemnification asset				0
Other payments	[3]			0
Suppliers				0
Bonds				0
Colegio JAO Ltda.
Related parties
Other receivables	[2]			0
Trade receivables				4,974
Indemnification asset				0
Other payments	[3]			0
Suppliers				33
Bonds				0
Colegio Manauara Lato Sensu Ltda.
Related parties
Other receivables	[2]			0
Trade receivables				3,291
Indemnification asset				0
Other payments	[3]			0
Suppliers				458
Bonds				0
Colegio Manauara Cidade Nova Ltda.
Related parties
Trade receivables				395
Suppliers				0
Colegio Visao Eireli
Related parties
Other receivables	[2]			0
Trade receivables				132
Indemnification asset				0
Other payments	[3]			0
Suppliers				13
Bonds				0
Colégio Cidade Ltda
Related parties
Other receivables	[2]			0
Trade receivables				397
Indemnification asset				0
Other payments	[3]			0
Suppliers				15
Bonds				0
COLEGIO DO SALVADOR LTDA
Related parties
Trade receivables				1
Suppliers				0
Curso e Colegio Coqueiro Ltda
Related parties
Other receivables	[2]			0
Trade receivables				434
Indemnification asset				0
Other payments	[3]			0
Suppliers				20
Bonds				0
ECSA Escola A Chave do Saber Ltda
Related parties
Other receivables	[2]			0
Trade receivables				1,444
Indemnification asset				0
Other payments	[3]			0
Suppliers				16
Bonds				0
Editora Atica S.A.
Related parties
Other receivables		0	[1]	0	[2]
Trade receivables		5,754		2,207
Indemnification asset		0		0
Other payments		0		20,040	[3]
Suppliers		9,778		9,239
Bonds		0		0
Editora E Distribuidora Educacional S.A.
Related parties
Other receivables		1,722	[1]	0	[2]
Trade receivables		19		436
Indemnification asset		0		0
Other payments		0		15,754	[3]
Suppliers		0		88
Bonds		0		0
Editora Scipione S.A.
Related parties
Other receivables	[2]			0
Trade receivables				445
Indemnification asset				0
Other payments	[3]			211
Suppliers				556
Bonds				0
Educacao Inovacao e Tecnologia S.A.
Related parties
Other receivables		0	[1]	0	[2]
Trade receivables		389		0
Indemnification asset		0		0
Other payments		0		128	[3]
Suppliers		175		0
Bonds		0		0
Nice Participações Ltda
Related parties
Other receivables	[1]	0
Trade receivables		37
Indemnification asset		0
Other payments		0
Suppliers		0
Bonds		0
Escola Mater Christi Ltda.
Related parties
Other receivables	[2]			0
Trade receivables				765
Indemnification asset				0
Other payments	[3]			0
Suppliers				139
Bonds				0
Escola Riacho Doce Ltda
Related parties
Other receivables	[2]			0
Trade receivables				0
Indemnification asset				0
Other payments	[3]			0
Suppliers				24
Bonds				0
Maxiprint Editora Ltda.
Related parties
Other receivables	[2]			0
Trade receivables				1,205
Indemnification asset				0
Other payments	[3]			117
Suppliers				76
Bonds				0
Nucleo Brasileiro de Estudos Avancados Ltda
Related parties
Other receivables	[2]			0
Trade receivables				420
Indemnification asset				0
Other payments	[3]			0
Suppliers				45
Bonds				0
Papelaria Brasiliana Ltda
Related parties
Other receivables	[2]			0
Trade receivables				644
Indemnification asset				0
Other payments	[3]			0
Suppliers				0
Bonds				0
Pitagoras Sistema De Educacão Superior Ltda.
Related parties
Other receivables	[2]			0
Trade receivables				76
Indemnification asset				0
Other payments	[3]			0
Suppliers				0
Bonds				0
Saber Servicos Educacionais S.A.
Related parties
Other receivables	[2]			14
Trade receivables				7,269
Indemnification asset				0
Other payments	[3]			0
Suppliers				578
Bonds				0
Saraiva Educação S.A.
Related parties
Other receivables		0	[1]	365	[2]
Trade receivables		749		1,179
Indemnification asset		0		0
Other payments		0		0	[3]
Suppliers		0		5,136
Bonds		0		0
SGE Comercio De Material Didatico Ltda.
Related parties
Other receivables	[2]			0
Trade receivables				0
Indemnification asset				0
Other payments	[3]			0
Suppliers				1,687
Bonds				0
Sistema P H De Ensino Ltda.
Related parties
Other receivables	[2]			0
Trade receivables				4,421
Indemnification asset				0
Other payments	[3]			0
Suppliers				177
Bonds				0
Sociedade Educacional Alphaville Ltda
Related parties
Other receivables	[2]			0
Trade receivables				1,257
Indemnification asset				0
Other payments	[3]			0
Suppliers				1
Bonds				0
Sociedade Educacional Doze De Outubro Ltda.
Related parties
Other receivables	[2]			0
Trade receivables				734
Indemnification asset				0
Other payments	[3]			0
Suppliers				47
Bonds				0
Sociedade Educacional Parana Ltda.
Related parties
Other receivables	[2]			0
Trade receivables				91
Indemnification asset				0
Other payments	[3]			0
Suppliers				11
Bonds				0
Somos Idiomas S.A.
Related parties
Other receivables		0	[1]	122	[2]
Trade receivables		229		0
Indemnification asset		0		0
Other payments		0		0	[3]
Suppliers		0		0
Bonds		0		0
Somos Operacoes Escolares S.A.
Related parties
Other receivables	[2]			0
Trade receivables				3,305
Indemnification asset				0
Other payments	[3]			0
Suppliers				29
Bonds				0
SSE Serviços Educacionais Ltda.
Related parties
Other receivables	[2]			0
Trade receivables				3,602
Indemnification asset				0
Other payments	[3]			0
Suppliers				665
Bonds				R$ 0
Others
Related parties
Other receivables	[1]	37
Trade receivables		0
Indemnification asset		0
Other payments		54
Suppliers		0
Bonds		R$ 0
[1] Refers substantially to accounts receivable generated from sharing costs e.g IT services shared by the Company to Cogna Group.

Related parties (Details 2)

Related parties (Details 2) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2022		Dec. 31, 2021	Dec. 31, 2020
Transactions held with Related parties
Revenues	R$ 31682		R$ 28663	R$ 33822
Finance costs	36,573	[1]	25,859	55,679
Cost Sharing	35,232		37,514	48,133
Sublease	13,047		15,939	21,683
Acel Administracao de Cursos Educacionais Ltda
Transactions held with Related parties
Revenues	0		2,790	1,230
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Centro Educacional Leonardo Da Vinci SS
Transactions held with Related parties
Revenues	0		41	1,319
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Cogna Educacao S.A.
Transactions held with Related parties
Revenues	0		0	0
Finance costs	36,573	[1]	25,859	48,432
Cost Sharing	0		0	0
Sublease	0		0	0
Colegio Ambiental Ltda
Transactions held with Related parties
Revenues	0		496	0
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Colégio Cidade Ltda
Transactions held with Related parties
Revenues	0		146	0
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Colegio JAO Ltda.
Transactions held with Related parties
Revenues	0		1,582	387
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Colegio Manauara Lato Sensu Ltda.
Transactions held with Related parties
Revenues	0		1,903	3,139
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Colegio Manauara Cidade Nova Ltda.
Transactions held with Related parties
Revenues	0		275	0
Finance costs	0	[1]	0	0
Cost Sharing	0			0
Sublease	0			0
Colegio Motivo Ltda.
Transactions held with Related parties
Revenues	0		35	1,308
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Colegio Visao Eireli
Transactions held with Related parties
Revenues	0		287	0
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Curso e Colegio Coqueiro Ltda
Transactions held with Related parties
Revenues	0		268	0
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
ECSA Escola A Chave do Saber Ltda
Transactions held with Related parties
Revenues	0		593	657
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Editora Atica S.A.
Transactions held with Related parties
Revenues	16,286		5,374	7,287
Finance costs	0	[1]	0	229
Cost Sharing	5,757		6,130	11,989
Sublease	8,551		13,153	15,364
Editora E Distribuidora Educacional S.A.
Transactions held with Related parties
Revenues	0		0	1,841
Finance costs	0	[1]	0	0
Cost Sharing	29,475		31,384	36,144
Sublease	0		0	1,489
Editora Scipione S.A.
Transactions held with Related parties
Revenues	3,096		1,341	1,551
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Escola Mater Christi Ltda.
Transactions held with Related parties
Revenues	0		311	246
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Escola Riacho Doce Ltda
Transactions held with Related parties
Revenues	0		77	0
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Maxiprint Editora Ltda.
Transactions held with Related parties
Revenues	6,665		1,107	612
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Nucleo Brasileiro de Estudos Avancados Ltda
Transactions held with Related parties
Revenues	0		276	423
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Papelaria Brasiliana Ltda
Transactions held with Related parties
Revenues	0		249	1,287
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Saber Servicos Educacionais S.A.
Transactions held with Related parties
Revenues	41		900	1,254
Finance costs	0	[1]	0	6,740
Cost Sharing	0		0	0
Sublease	0		0	729
Saraiva Educação S.A.
Transactions held with Related parties
Revenues	4,090		2,405	3,364
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	1,905		2,528	3,739
Sistema P H De Ensino Ltda.
Transactions held with Related parties
Revenues	0		4,417	5,776
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Sociedade Educacional Alphaville Ltda
Transactions held with Related parties
Revenues	0		414	317
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Sociedade Educacional Doze De Outubro Ltda.
Transactions held with Related parties
Revenues	0		360	295
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Sociedade Educacional NEODNA Cuiaba Ltda
Transactions held with Related parties
Revenues	0		224	367
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Sociedade Educacional Parana Ltda.
Transactions held with Related parties
Revenues	0		0	0
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
SOE Operações Escolares SA.
Transactions held with Related parties
Revenues	0		1,086	0
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Somos Idiomas S.A.
Transactions held with Related parties
Revenues	641		0	0
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	2,591		258	0
Somos Operacoes Escolares S.A.
Transactions held with Related parties
Revenues	0		243	0
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
SSE Serviços Educacionais Ltda.
Transactions held with Related parties
Revenues	863		1,463	795
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Sociedade Educacional NEODNA Cuiaba Ltda - EPP
Transactions held with Related parties
Revenues	0		0	367
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	0		0	0
Somos Educacao S.A.
Transactions held with Related parties
Revenues	0		0	0
Finance costs	0	[1]	0	278
Cost Sharing	0		0	0
Sublease	0		0	0
Others
Transactions held with Related parties
Revenues	0		0	0
Finance costs	0	[1]	0	0
Cost Sharing	0		0	0
Sublease	R$ 0		R$ 0	R$ 362
[1]Refers to debentures interest; see Note 15

Related parties (Details 3)

Related parties (Details 3) R$ in Thousands				12 Months Ended
	Dec. 06, 2019 BRL (R$) Number	Nov. 11, 2019 BRL (R$)	Nov. 06, 2019 BRL (R$)	Dec. 31, 2022 BRL (R$)	Dec. 31, 2021 BRL (R$)		Dec. 31, 2020 BRL (R$)
Transactions held with Related parties
Other payments				R$ 54	R$ 39271	[1]
Indemnification asset				180,417	160,470
Cost Sharing				35,232	37,514		R$ 48133
Editora E Distribuidora Educacional S.A.
Transactions held with Related parties
Other payments				54	39,271
Related parties
Transactions held with Related parties
Cost Sharing				R$ 35232	R$ 37514
Related parties | Trademark license
Transactions held with Related parties
Trademark	R$ 0
Agreement term		20 years
Number of license agreements | Number	2
Related parties | Editora E Distribuidora Educacional S.A. | Copyright license
Transactions held with Related parties
Copyright license		R$ 0
Agreement term		3 years
Related parties | Editora E Distribuidora Educacional S.A. | Trademark license
Transactions held with Related parties
Trademark			R$ 0
Agreement term			20 years
[1]Refers substantially to accounts payable by sharing expenses e.g property leasing, personnel and IT licenses shared with Cogna Group.

Related parties (Details 4)

Related parties (Details 4) - BRL (R$) R$ in Thousands		12 Months Ended
	Nov. 21, 2018	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Transactions held with Related parties
Income from lease and sublease agreements		R$ 13047	R$ 15939	R$ 21683
Related parties
Transactions held with Related parties
Income from lease and sublease agreements		13,047	15,939
Editora E Distribuidora Educacional S.A.
Transactions held with Related parties
Income from lease and sublease agreements		0	R$ 0	R$ 1489
Editora E Distribuidora Educacional S.A. | Somos Sistemas De Ensino S.A. [Member]
Transactions held with Related parties
Commercial sublease agreement, Monthly payments		R$ 430
Commercial sublease agreement, Maturity		Sep. 30, 2025
Commercial sublease agreement, Rate		Inflation index
Commercial sublease agreement, State of the property in use		São Paulo (São Paulo)
Somos Sistemas De Ensino S.A. [Member] | Editora Scipione S.A.
Transactions held with Related parties
Commercial lease agreement, Monthly payments		R$ 44
Commercial lease agreement, Maturity		60 months
Commercial lease agreement, Rate		Inflation index
Commercial lease agreement, State of the property in use		Pernambuco (Recife)
Somos Sistemas De Ensino S.A. [Member] | Editora Atica S.A.
Transactions held with Related parties
Commercial lease agreement, Monthly payments		R$ 37
Commercial lease agreement, Maturity		60 months
Commercial lease agreement, Rate		Inflation index
Commercial lease agreement, State of the property in use		Bahia (Salvador)
Commercial sublease agreement, Monthly payments		R$ 827
Commercial sublease agreement, Maturity		Sep. 30, 2025
Commercial sublease agreement, Rate		Inflation index
Commercial sublease agreement, State of the property in use		São Paulo (São José dos Campos)
Somos Sistemas De Ensino S.A. [Member] | Somos Idiomas S.A.
Transactions held with Related parties
Commercial sublease agreement, Monthly payments		R$ 53
Commercial sublease agreement, Maturity		Sep. 30, 2025
Commercial sublease agreement, Rate		Inflation index
Commercial sublease agreement, State of the property in use		São Paulo (São José dos Campos)
Somos Sistemas De Ensino S.A. [Member] | Saraiva Educação S.A (“Saraiva”)
Transactions held with Related parties
Commercial sublease agreement, Monthly payments		R$ 207
Commercial sublease agreement, Maturity		Sep. 30, 2025
Commercial sublease agreement, Rate		Inflation index
Commercial sublease agreement, State of the property in use		São Paulo (São José dos Campos)
Somos Sistemas De Ensino S.A. [Member] | Livraria Livro Fácil Ltda.("Livro Fácil")
Transactions held with Related parties
Commercial sublease agreement, Monthly payments		R$ 1160
Commercial sublease agreement, Maturity		Sep. 30, 2025
Commercial sublease agreement, Rate		Inflation index
Commercial sublease agreement, State of the property in use		São Paulo (São José dos Campos)
Mind Makers Editora Educacional (“Mind Makers”)
Transactions held with Related parties
Aggregate amount of Guarantees related to finance	R$ 1676

Related parties (Details 5)

Related parties (Details 5) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related parties
Short-term employee benefits	R$ 10786	R$ 4685	R$ 6982
Share-based compensation plan	9,640	8,305	33,594
Total key management personnel compensation expenses	R$ 20426	R$ 12990	R$ 40576

Provision for tax, civil and _3

Provision for tax, civil and labor losses and Judicial deposits and escrow accounts (Details) - BRL (R$) R$ in Thousands		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of contingent liabilities [line items]
Proceedings whose likelihood of loss is probable		R$ 648748	R$ 645619
Liabilities assumed in Business Combination		2,504	1,231
Total of provision for tax, civil and labor losses		651,252	646,850	R$ 613933
Tax proceedings
Disclosure of contingent liabilities [line items]
Proceedings whose likelihood of loss is probable	[1]	622,440	607,084
Liabilities assumed in Business Combination		749	0
Total of provision for tax, civil and labor losses		623,189	607,084	575,724
Labor proceedings
Disclosure of contingent liabilities [line items]
Proceedings whose likelihood of loss is probable	[2]	25,812	38,159
Liabilities assumed in Business Combination	[2]	1,755	0
Total of provision for tax, civil and labor losses		27,567	38,159	37,896
Civil proceedings
Disclosure of contingent liabilities [line items]
Proceedings whose likelihood of loss is probable		496	376
Liabilities assumed in Business Combination		0	1,231
Total of provision for tax, civil and labor losses		R$ 496	R$ 1607	R$ 313
[1]Primarily refers to income tax positions taken by Somos and the Company in connection with a corporate restructuring held by the predecessor in 2010 2018 2018

Provision for tax, civil and _4

Provision for tax, civil and labor losses and Judicial deposits and escrow accounts (Details 2) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Changes in provision
Beginning balance	R$ 646850	R$ 613933
Business combination	2,504	1,231
Additions	6,648	3,594
Reversals	(45,450)	(5,580)
Interest	42,063	34,300
Payments	(1,363)	(628)
Ending balance	651,252	646,850
Reconciliation with profit or loss for the period
Finance expense	(42,063)	(34,300)
General and administrative expenses, Additions	(6,648)	(3,594)
General and administrative expenses, Reversals	21,747	5,580
Income tax and social contribution, Reversals	23,703
Addition (Total)	(6,648)	(3,594)
Reversal (Total)	45,450	5,580
Interest (Total)	(42,063)	(34,300)
Tax proceedings
Changes in provision
Beginning balance	607,084	575,724
Business combination	749	0
Additions	2,904	16
Reversals	(27,790)	(262)
Interest	41,261	31,623
Payments	(1,019)	(17)
Ending balance	623,189	607,084
Reconciliation with profit or loss for the period
Addition (Total)	(2,904)	(16)
Reversal (Total)	27,790	262
Interest (Total)	(41,261)	(31,623)
Labor proceedings
Changes in provision
Beginning balance	38,159	37,896
Business combination	1,755	0
Additions	3,376	3,468
Reversals	(16,045)	(5,294)
Interest	776	2,636
Payments	(454)	(547)
Ending balance	27,567	38,159
Reconciliation with profit or loss for the period
Addition (Total)	(3,376)	(3,468)
Reversal (Total)	16,045	5,294
Interest (Total)	(776)	(2,636)
Civil proceedings
Changes in provision
Beginning balance	1,607	313
Business combination	0	1,231
Additions	368	110
Reversals	(1,615)	(24)
Interest	26	41
Payments	110	(64)
Ending balance	496	1,607
Reconciliation with profit or loss for the period
Addition (Total)	(368)	(110)
Reversal (Total)	1,615	24
Interest (Total)	R$ 26	R$ 41

Provision for tax, civil and _5

Provision for tax, civil and labor losses and Judicial deposits and escrow accounts (Details 3) - BRL (R$) R$ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Disclosure of contingent liabilities [line items]
Indemnification asset	[1]	R$ 180417	R$ 160470
Total		194,859	178,824
Cogna Group
Disclosure of contingent liabilities [line items]
Indemnification asset		1,801	1,998
Tax proceedings
Disclosure of contingent liabilities [line items]
Contingent assets arising from proceedings		2,126	2,300
Escrow-account (ii)
Disclosure of contingent liabilities [line items]
Indemnification asset	[2]	R$ 10515	R$ 14055
[1] Refers to an indemnification asset of the seller in connection with the acquisition of Somos (Vasta’s Predecessor) by Cogna Group (Vasta’s Parent Company) and recognized at the date of the business combination, in order to indemnify the Company for all losses that may be incurred in connection with all contingencies or lawsuits, substantially tax proceedings related to business combinations up to the maximum amount of R$ 180,417 160,470 21

Provision for tax, civil and _6

Provision for tax, civil and labor losses and Judicial deposits and escrow accounts (Details 4 - Textuals) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Disclosure of contingent liabilities [line items]
Indemnification asset	[1]	R$ 180417	R$ 160470
Interest rate basis		CDI
Cogna Group
Disclosure of contingent liabilities [line items]
Indemnification asset		R$ 1801	1,998
Cogna Group | Somos Sistemas [Member]
Disclosure of contingent liabilities [line items]
Indemnification asset		R$ 180417	R$ 160470
Interest rate basis		CDI (Certificates of Interbank Deposits).
[1] Refers to an indemnification asset of the seller in connection with the acquisition of Somos (Vasta’s Predecessor) by Cogna Group (Vasta’s Parent Company) and recognized at the date of the business combination, in order to indemnify the Company for all losses that may be incurred in connection with all contingencies or lawsuits, substantially tax proceedings related to business combinations up to the maximum amount of R$ 180,417 160,470 21

Current and Deferred Income T_3

Current and Deferred Income Tax and Social Contribution (Details 2) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Changes in deferred income tax and social contribution assets and liabilities
Deferred Assets, net at beginning of period		R$ 170851		R$ 130405		R$ 88546
Effect on profit (loss)		40,446		48,386
Deferred tax on business combination				(6,527)
Deferred Assets, net at end of period		R$ 170851		130,405		88,546
Maximum limit for offsetting tax loss carry-forwards as percentage of taxable profit		30%
Estimated period for tax benefit is expected to be realized from 2026		6 years
Income tax and social contribution losses carryforwards
Changes in deferred income tax and social contribution assets and liabilities
Deferred Assets, net at beginning of period		R$ 422240	[1]	307,319	[1]	182,257
Effect on profit (loss)		114,921	[1]	125,062
Deferred tax on business combination				0
Deferred Assets, net at end of period		422,240	[1]	307,319	[1]	182,257
Impairment losses on trade receivables
Changes in deferred income tax and social contribution assets and liabilities
Deferred Assets, net at beginning of period		20,471		13,010		9,543
Effect on profit (loss)		7,461		3,467
Deferred tax on business combination				0
Deferred Assets, net at end of period		20,471		13,010		9,543
Provision for obsolete inventories
Changes in deferred income tax and social contribution assets and liabilities
Deferred Assets, net at beginning of period		3,346		(1,262)		3,263
Effect on profit (loss)		4,608		(4,525)
Deferred tax on business combination				0
Deferred Assets, net at end of period		3,346		(1,262)		3,263
Imputed interest on suppliers
Changes in deferred income tax and social contribution assets and liabilities
Deferred Assets, net at beginning of period		(5,548)		(2,157)		(744)
Effect on profit (loss)		(3,391)		(1,413)
Deferred tax on business combination				0
Deferred Assets, net at end of period		(5,548)		(2,157)		(744)
Provision for risks of tax, civil and labor losses
Changes in deferred income tax and social contribution assets and liabilities
Deferred Assets, net at beginning of period		20,445		20,025		19,138
Effect on profit (loss)		420		887
Deferred tax on business combination				0
Deferred Assets, net at end of period		20,445		20,025		19,138
Refund liabilities and right to returned goods
Changes in deferred income tax and social contribution assets and liabilities
Deferred Assets, net at beginning of period		15,818		9,470		10,903
Effect on profit (loss)		6,348		(1,433)
Deferred tax on business combination				0
Deferred Assets, net at end of period		15,818		9,470		10,903
Lease Liabilities
Changes in deferred income tax and social contribution assets and liabilities
Deferred Assets, net at beginning of period		7,936		6,660		4,764
Effect on profit (loss)		1,276		1,896
Deferred tax on business combination				0
Deferred Assets, net at end of period		7,936		6,660		4,764
Fair value adjustments on business combination and goodwill amortization
Changes in deferred income tax and social contribution assets and liabilities
Deferred Assets, net at beginning of period		(358,454)	[2]	(248,628)	[2],[3]	(150,598)	[3]
Effect on profit (loss)		(109,826)	[2]	(90,588)	[3]
Deferred tax on business combination	[3]			(7,442)
Deferred Assets, net at end of period		(358,454)	[2]	(248,628)	[2],[3]	(150,598)	[3]
Other temporary difference
Changes in deferred income tax and social contribution assets and liabilities
Deferred Assets, net at beginning of period		44,596		25,968		10,020
Effect on profit (loss)		18,628		15,033
Deferred tax on business combination				915
Deferred Assets, net at end of period		R$ 44596		R$ 25968		R$ 10020
[1]The Company’s income tax and social contribution loss carryforwards are primarily the result of tax amortization of goodwill and the amortization of certain intangibles recognized related to the business combination in 2018 2026 three Goodwill three

Current and Deferred Income T_4

Current and Deferred Income Tax and Social Contribution (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current and Deferred Income Tax and Social Contribution
Loss before income tax and social contribution	R$ 105687	R$ 155843	R$ 71053
Nominal statutory rate of income tax and social contribution	34%	34%	34%
IRPJ and CSLL calculated at the nominal rates	R$ 35934	R$ 52987	R$ 24158
Share of loss equity-accounted investees	(1,534)	0	0
Permanent additions	(8,292)	(7,265)	1,246
Additional IRPJ	0	24	0
Difference in presumed profit rate of subsidiary	3,617	0	0
Tax Contingencies IRPJ and CSLL	23,703	0	0
Impairment write-off on tax loss carryforward	(2,314)	(8,657)	0
Total IRPJ and CSLL	51,114	37,089	25,404
Current IRPJ and CSLL in the result	10,668	(11,297)	7,874
Deferred IRPJ and CSLL in the result	40,446	48,386	17,530
Income tax and social contribution	R$ 51114	R$ 37089	R$ 25404
Effective tax rate of Income and social contribution tax benefit	48%	24%	36%

Shareholder's Equity (Details)

Shareholder's Equity (Details)	12 Months Ended
	Dec. 31, 2022 shares
Share Capital
Number of shares issued at beginning of period	83,393,851
Remuneration
ILP exercised	184,117
Premium recognized	71,919
Number of shares issued at end of period	83,649,887
Class A common shares
Share Capital
Number of shares issued at beginning of period	18,957,758
Remuneration
ILP exercised	184,117
Premium recognized	71,919
Number of shares issued at end of period	19,213,794
Class B common shares
Share Capital
Number of shares issued at beginning of period	64,436,093
Remuneration
ILP exercised	0
Premium recognized	0
Number of shares issued at end of period	64,436,093

Shareholder's Equity (Details 1

Shareholder's Equity (Details 1) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share Capital
Total number of shares issued	83,649,887	83,393,851
Treasury shares
Share Capital
Total number of shares issued	1,000,000
Cogna Group
Share Capital
Total number of shares issued	64,436,093
Free Float
Share Capital
Total number of shares issued	18,213,794
Class A common shares
Share Capital
Total number of shares issued	19,213,794	18,957,758
Total percentage of shares issued	23%
Class A common shares | Treasury shares
Share Capital
Total number of shares issued	1,000,000
Class A common shares | Cogna Group
Share Capital
Total number of shares issued	0
Class A common shares | Free Float
Share Capital
Total number of shares issued	18,213,794
Class B common shares
Share Capital
Total number of shares issued	64,436,093	64,436,093
Total percentage of shares issued	77%
Class B common shares | Treasury shares
Share Capital
Total number of shares issued	0
Class B common shares | Cogna Group
Share Capital
Total number of shares issued	64,436,093
Class B common shares | Free Float
Share Capital
Total number of shares issued	0

Shareholder's Equity (Details 2

Shareholder's Equity (Details 2) - BRL (R$) R$ / shares in Units, shares in Thousands, R$ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earning per share
Loss Attributable to Shareholder´s		R$ 54573	R$ 118754	R$ 45649
Weighted average number of ordinary shares outstanding	[1]	83,651	82,254	83,012
Basic earning (loss) per share - R$		R$ 0.65	R$ 1.44	R$ 0.55
Diluted earning (loss) per share - R$		R$ 0.65	R$ 1.44	R$ 0.55
[1] The Company has not changed its number of voting rights since the IPO on July 31, 2020.

Shareholder's Equity (Details 3

Shareholder's Equity (Details 3 - Textuals 1) - BRL (R$) R$ / shares in Units, R$ in Thousands		12 Months Ended
	Jul. 23, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 22, 2021
Share Capital
Capital contribution				R$ 2426
Number of shares issued and outstanding		83,649,887	83,393,851	83,011,585
Maximum percentage of shares authorized for issuance		3%
Share-based compensation reserve for vested [member]
Share Capital
Capital contribution
Treasury shares
Share Capital
Capital contribution
Class A common shares
Share Capital
Number of shares approved for issuance					382,266
Par value per share					R$ 0.00005
Bonus IPO		298,268
Class A common shares | Share-based compensation reserve for vested [member]
Share Capital
Increase (decrease) through exercise of Bonus IPO, net of withholding taxes		R$ 29124
Bonus IPO, lockup period		1 year
Number of shares vested in connection with Bonus IPO		0
Payroll charges from Bonus IPO			R$ 21456
Increase (decrease) through exercise of long-term compensation plan		R$ 259	58
Payroll charges from long-term compensation plan exercised		167	70
Increase (decrease) through exercise of performance based restricted share units		1,912	1,861
Payroll charges from performance based restricted share units exercised		R$ 1748	R$ 1538
Class A common shares | Treasury shares
Share Capital
Number of shares issued and outstanding		1,000,000
Somos Sistemas [Member]
Share Capital
Proportion of ownership interest in subsidiary		100%	100%
Cogna Group
Share Capital
Capital contribution	R$ 2426
Cogna Group | Class B common shares
Share Capital
Number of shares issued and outstanding		64,436,093	64,436,093	64,436,093
Others | Class A common shares
Share Capital
Number of shares issued and outstanding			18,957,758	18,575,492
Third-party lawsuits [member] | Class A common shares
Share Capital
Number of shares issued and outstanding		18,213,794

Shareholder's Equity (Details 4

Shareholder's Equity (Details 4 - Textuals 2) R$ / shares in Units, R$ in Thousands			12 Months Ended
	Apr. 30, 2022 BRL (R$) shares	Sep. 03, 2018 shares	Dec. 31, 2022 BRL (R$) R$ / shares shares	Dec. 31, 2021 BRL (R$) shares	Jun. 22, 2021 shares
Share Capital
Maximum percentage of shares authorized for issuance			3%
Premium recognized | shares			71,919
Acquisition of shares upon repurchase program				R$ 23880
Class A common shares
Share Capital
Number of shares approved for issuance | shares					382,266
Premium recognized | shares			71,919
Share-based compensation reserve for granted [member]
Share Capital
Number of share based compensation plans			2
Number of bonus plans			1
Acquisition of shares upon repurchase program
Treasury shares
Share Capital
Acquisition of shares upon repurchase program			R$ 23880	R$ 23880
Number of shres acquired upon repurchase program | shares			1,000,000	1,000,000
Treasury shares | Class A common shares
Share Capital
Number of shres authorized for repurchase program | shares				1,000,000
Acquisition of shares upon repurchase program				R$ 23880
Number of shres acquired upon repurchase program | shares				1,000,000
Cogna Group | Share-based compensation reserve for granted [member] | Restricted share-based compensation plan
Share Capital
Number of shares approved for issuance | shares		19,416,233
Maximum percentage of shares authorized for issuance		1.20%
Maximum period from end of vesting period for obligation to transfer shares under share-based plan		10 days
Period of continued employment under service conditions		3 years
Number of outstanding restricted shares			0	155,919
Grant date fair value | R$ / shares			R$ 1058
Effect of events on compensation in the Consolidated Statement of Profit or Loss			R$ 557	R$ 2234
Others | Share-based compensation reserve for granted [member] | Long Term Investment Plan (“ILP”) | Class A common shares
Share Capital
Maximum percentage of shares authorized for issuance			3%
Effect of events on compensation in the Consolidated Statement of Profit or Loss			R$ 22461	21,372
Number of tranches granted under share-based plan			2
Maximum number of tranches authorized for issuance of shares			5
Vesting period under the plan			5 years
Expected volatility			30%
Effect of events on compensation in the Shareholder’s Equity			R$ 22404	21,250
Labor charges in liabilities			R$ 58	R$ 122
Others | Share-based compensation reserve for granted [member] | Performance based restricted share units bonus paln
Share Capital
Premium recognized | shares	99,193
Increase (decrease) through exercise of performance based restricted share units	R$ 1748
Labor charges from performance based restricted share units exercised	R$ 1023

Net Revenue from sales and Se_3

Net Revenue from sales and Services (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net Revenue from sales and Services
Gross revenue	R$ 1421091	R$ 1066479	R$ 1111739
Taxes	(9,962)	(8,455)	(6,432)
Discounts	(15,692)	(14,302)	(8,609)
Returns	(131,157)	(96,303)	(99,070)
Net revenue from sales and services	1,264,280	947,419	997,628
Sales	1,229,827	914,266	967,374
Service	34,453	33,153	30,254
Net revenue	1,264,280	947,419	997,628
Total Content & EdTech
Net Revenue from sales and Services
Gross revenue	1,304,496	964,545	1,014,107
Taxes	(7,835)	(5,822)	(4,171)
Discounts	(15,692)	(14,302)	(8,609)
Returns	(125,624)	(93,708)	(92,921)
Net revenue from sales and services	1,155,345	850,713	908,406
Net revenue	1,155,345	850,713	908,406
Learning Systems
Net Revenue from sales and Services
Gross revenue	878,468	568,522	608,200
Taxes	(382)	(219)	(40)
Discounts	(13,157)	(14,302)	(8,603)
Returns	(78,468)	(41,919)	(17,553)
Net revenue from sales and services	786,461	512,082	582,004
Net revenue	786,461	512,082	582,004
Textbooks
Net Revenue from sales and Services
Gross revenue	228,094	212,708	308,298
Taxes	(214)	(1,608)	(250)
Discounts	(1,120)	0	0
Returns	(31,401)	(41,330)	(72,488)
Net revenue from sales and services	195,359	169,770	235,560
Net revenue	195,359	169,770	235,560
Complementary Education Services
Net Revenue from sales and Services
Gross revenue	159,207	148,817	63,491
Taxes	(193)	(961)	(17)
Discounts	(1,415)	0	(6)
Returns	(15,755)	(10,459)	(2,880)
Net revenue from sales and services	141,844	137,397	60,588
Net revenue	141,844	137,397	60,588
Other services
Net Revenue from sales and Services
Gross revenue	38,727	34,498	34,118
Taxes	(7,046)	(3,034)	(3,864)
Net revenue from sales and services	31,681	31,464	30,254
Net revenue	31,681	31,464	30,254
Total Digital Services Platform
Net Revenue from sales and Services
Gross revenue	116,595	101,934	97,632
Taxes	(2,127)	(2,633)	(2,261)
Returns	(5,533)	(2,595)	(6,149)
Net revenue from sales and services	108,935	96,706	89,222
Net revenue	108,935	96,706	89,222
E-commerce
Net Revenue from sales and Services
Gross revenue	113,569	100,084	97,632
Taxes	(1,873)	(2,473)	(2,261)
Returns	(5,533)	(2,595)	(6,149)
Net revenue from sales and services	106,163	95,016	89,222
Net revenue	106,163	95,016	89,222
Other digital services
Net Revenue from sales and Services
Gross revenue	3,026	1,850	0
Taxes	(254)	(160)	0
Net revenue from sales and services	2,772	1,690	0
Net revenue	R$ 2772	R$ 1690	R$ 0

Costs and Expenses by Nature (D

Costs and Expenses by Nature (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Costs and Expenses by Nature
Salaries and payroll charges	R$ 281894	R$ 274581	R$ 279523
Raw materials and productions costs	(201,700)	(185,862)	(216,791)
Editorial costs	(49,329)	(71,705)	(52,794)
Depreciation and amortization	(268,714)	(211,156)	(174,088)
Copyright	(72,348)	(58,885)	(59,597)
Advertising and publicity	(99,834)	(77,655)	(88,965)
Utilities, cleaning and security	(20,087)	(25,505)	(19,499)
Rent and condominium fees	(18,312)	(17,775)	(14,278)
Third-party services	(47,667)	(25,758)	(23,904)
Travel	(23,577)	(8,747)	(8,760)
Consulting and advisory services	(34,166)	(23,395)	(25,269)
Impairment losses on trade receivables	(45,904)	(32,726)	(25,015)
Material	(6,263)	(3,523)	(3,708)
Taxes and contributions	(1,777)	(2,808)	(2,066)
Reversal for tax, civil and labor risks	15,099	1,986	2,092
Provision for obsolete inventories	(40,924)	(22,117)	(4,057)
Income from lease and sublease agreements with related parties	13,047	15,939	21,683
Other income, net	662	5,554	4,283
Costs and Expenses by Nature	R$ 1183688	R$ 1018719	R$ 970256

Costs and Expenses by Nature _2

Costs and Expenses by Nature (Details 2) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Costs and Expenses by Nature
Cost of goods sold and services	R$ 473135	R$ 396829	R$ 378003
Commercial expenses	(194,043)	(164,439)	(165,169)
General and administrative expenses	(471,626)	(430,279)	(406,352)
Impairment loss on accounts receivable	(45,904)	(32,726)	(25,015)
Other operating income, net	1,020	5,554	4,283
Costs and Expenses by Nature	R$ 1183688	R$ 1018719	R$ 970256

Finance result (Details)

Finance result (Details) - BRL (R$) R$ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finance income
Income from financial investments and marketable securities	[1]	R$ 54954	R$ 26719	R$ 16907
Income finance from indemnification assets and contingencies	[2]	31,077	6,818	1,476
Other finance income		2,526	2,103	2,601
Finance income		88,557	35,640	20,984
Finance costs
Interest on bonds and financing		(108,896)	(43,549)	(52,935)
Interest on account payables for business combinations		(65,725)	(8,158)	(1,568)
Imputed interest on suppliers		(19,810)	(6,609)	(12,286)
Interest on Loans from related parties		0	(157)	(3,344)
Bank and collection fees		(3,891)	(6,587)	(17,771)
Interest on provision for tax, civil and labor losses		(52,891)	(34,300)	(13,297)
Interest on Lease Liabilities		(13,143)	(14,984)	(15,077)
Other finance costs		(5,968)	(5,839)	(3,131)
Finance costs		(270,324)	(120,183)	(119,409)
Total finance result		R$ 181767	R$ 84543	R$ 98425
[1] Refers to income from marketable securities indexed at CDI. Refers to an indemnification asset in the amount of R$ 20,249 in connection with the acquisition of ( Predecessor) by Group ( Parent Company), as mentioned in the note 21

Finance result - Additional inf

Finance result - Additional information (Details 1) R$ in Thousands	12 Months Ended
	Dec. 31, 2022 BRL (R$)
Finance result
Interest rate basis	CDI
Income finance from reversal of interest on provision for tax losses	R$ 10828
Cogna Group | Somos Sistemas de Ensino S.A. ("Somos Sistemas")
Finance result
Interest rate basis	CDI (Certificates of Interbank Deposits).
Income finance from indemnification asset	R$ 20249

Segment Reporting (Details)

Segment Reporting (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting
Net revenue from sales and services	R$ 1264280	R$ 947419	R$ 997628
Cost of goods sold and services	(473,135)	(396,829)	(378,003)
Operating income (expenses)
General and administrative expenses	(471,626)	(430,279)	(406,352)
Commercial expenses	(194,043)	(164,439)	(165,169)
Other operating income, net	1,020	5,554	4,283
Impairment losses on trade receivables	(45,904)	(32,726)	(25,015)
Share of loss equity-accounted investees	(4,512)
Profit (loss) before finance result and taxes	76,080	(71,300)	27,372
Assets	7,520,591	7,333,407	6,978,270
Current and non-current liabilities	2,890,911	2,668,198	2,192,953
Content & EdTech Platform
Segment Reporting
Net revenue from sales and services	1,155,345	850,713	908,406
Cost of goods sold and services	(375,167)	(327,651)	(301,882)
Operating income (expenses)
General and administrative expenses	(445,330)	(413,746)	(387,023)
Commercial expenses	(183,118)	(147,664)	(152,659)
Other operating income, net	2,260	5,469	4,283
Impairment losses on trade receivables	(45,769)	(32,344)	(25,015)
Share of loss equity-accounted investees	(4,512)
Profit (loss) before finance result and taxes	103,709	(65,223)	46,110
Assets	7,438,094	7,207,084	6,848,198
Current and non-current liabilities	2,852,390	2,605,351	2,141,107
Digital Services Platform
Segment Reporting
Net revenue from sales and services	108,935	96,706	89,222
Cost of goods sold and services	(97,968)	(69,178)	(76,121)
Operating income (expenses)
General and administrative expenses	(26,295)	(16,533)	(19,329)
Commercial expenses	(10,926)	(16,775)	(12,510)
Other operating income, net	(1,240)	85	0
Impairment losses on trade receivables	(135)	(382)	0
Share of loss equity-accounted investees	0
Profit (loss) before finance result and taxes	(27,629)	(6,077)	(18,738)
Assets	82,497	126,323	130,072
Current and non-current liabilities	R$ 38521	R$ 62847	R$ 51847

Segment Reporting (Details 1 -

Segment Reporting (Details 1 - Textuals) R$ in Thousands	12 Months Ended
	Dec. 31, 2022 BRL (R$)	Dec. 31, 2021 BRL (R$)	Dec. 31, 2020 BRL (R$)
Segment Reporting
Net revenue from sales and services	R$ 1264280	R$ 947419	R$ 997628
Revenue Benchmark | Aggregate customers of entity | Customer concentrations risk
Segment Reporting
Number of customers	0	0	0
Percentage of total net revenues		10%
Revenue Benchmark | Aggregate customers of entity | Customer concentrations risk | Bottom of range
Segment Reporting
Percentage of total net revenues	10%		10%
Foreign customers
Segment Reporting
Net revenue from sales and services	R$ 0

Non-cash transactions - Additio

Non-cash transactions - Additional information (Details) - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Non-cash transactions
Non-monetary transaction, additions of right of use assets and lease liabilities	R$ 12002	R$ 25513	R$ 35925
Non-monetary transaction, disposals of contracts of right of use assets and lease liabilities	3,180	3,481	R$ 3429
Phidelis
Non-cash transactions
Non-monetary transaction, accounts payable assumed	R$ 12733
SEL
Non-cash transactions
Non-monetary transaction, accounts payable assumed		26,876
Redação Nota 1000
Non-cash transactions
Non-monetary transaction, accounts payable assumed		7,294
EMME
Non-cash transactions
Non-monetary transaction, accounts payable assumed		12,253
De Gouges
Non-cash transactions
Non-monetary transaction, accounts payable assumed		451,554
Pluri
Non-cash transactions
Non-monetary transaction, accounts payable assumed		12,347
Mind Makers
Non-cash transactions
Non-monetary transaction, accounts payable assumed		13,621
Meritt
Non-cash transactions
Non-monetary transaction, accounts payable assumed		R$ 4330

Subsequent events - Additional

Subsequent events - Additional information (Details) - BRL (R$) R$ in Thousands		12 Months Ended
	Mar. 03, 2023	Dec. 31, 2022
Subsequent events
Interest rate basis		CDI
Business Acquisition | Escola Start Ltda. [member]
Subsequent events
Proportion of ownership interests held by minority shareholder	49%
Minority shareholder interest	R$ 11700
Business Acquisition | Escola Start Ltda. [member] | Somos Sistemas de Ensino S.A. ("Somos Sistemas")
Subsequent events
Percentage of voting equity interests acquired	51%
Purchase consideration	R$ 4454
Number of installments for consideration payment	2
Consideration paid in cash	R$ 4100
Consideration to be paid	R$ 354
Interest rate basis	100% of the CDI