Abecip: Brazilian Association of Entities of Real Estate Credit and Savings.

Active Clients: Buyers of real estate units, who constitute the Company´s receivables portfolio.

ADEMI: Association of Managers of Real Estate Companies.

Arbitration ChamberMarket Arbitration Chamber established by the Bovespa for resolution of disputes between companies and its investors.

BovespaSão Paulo Stock Exchange (Bolsa de Valores de São Paulo).

BR GAAPAccounting practices adopted in Brazil, or Brazilian GAAP or Brazilian Corporation Law. CBLCThe Brazilian Settlement and Custodial Company (Companhia Brasileira de Liquidação e Custódia).

CAGR: Compound Annual Growth Rate.

Company or Trisul: Refer to Trisul S.A.

CRI: Certificates of Real Estate Receivables, which are negotiable credit notes backed by real estate loans and which constitute a promise to pay in cash, as ruled by Law 10931 of August 2, 2004, and subsequent amendments.

CVM: The Brazilian Securities Commission (Comissão de Valores Mobiliários).

EBITDA: EBITDA corresponds to the Company’s unaudited pro forma income before taxes and social contribution, amortization, depreciation and net financial income (expenses).

High-income: Units at sales prices above R$350,000.

IBRACON: Institute of Independent Auditors of Brazil.

IFRS: International Financial Reporting Standards.

INCC: Brazilian National Index of Construction Costs

Incosul : Incosul Incorporação e Construção Ltda.

Land bank: Stock of land acquired through cash or installment payments, as well as those through options contracts on which the Company has the right to develop properties.

Launched PSV: Corresponds to the total potential value to be obtained by selling all the units of a specific real estate project launched at the launch price. Launched PSV may not be realized or may significantly differ from the value of Contracted Sales since the number of units actually sold may differ from the number of units launched and / or the selling price of each unit may differ from the launch price.

PSV: Potential Sales Value

Real, Reais or R$: refers to the Brazilian real, the official currency of Brazil

Regulation S: Rule promulgated under the U.S. Securities Act of 1933, as amended, or the Securities Act, related to institutional and other investors outside the United States and Brazil that are not U.S. persons.

Rule 144ARule promulgated under the U.S. Securities Act of 1933, as amended, or the Securities Act, related to qualified institutional buyers of the United States.

SECSecurities and Exchange Commission.

SECOVI: São Paulo Trade Association for Companies Involved in the Purchase, Sale, Lease and Management of Residential and Commercial Properties.

Securities Act: The Securities Act of 1933 of the United States, as amended.

SFH: Brazilian government’s Housing Finance System.

SMA: State Environment Office.

SPE: special purpose entities.

Tricury: Tricury Construções e Participações Ltda.

U.S. dollar, U.S. dollars or US$: refers to U.S. dollars

US GAAP: Accounting practices adopted in the US.

Last update: October 14, 2018