Iguatemi S A : Notice to the market - 4Q21 Operational data preview

NOTICE TO

THE MARKET

4 Q 21 OPERATIONAL DATA PREVIEW

São Paulo, January 28, 2021 - Iguatemi SA ("Iguatemi" or "Company") [B3: IGTI11], one of the largest full-service companies

in the shopping center industry in Brazil, announces a preview of the Company's operational data for the 4Q21.

4Q21 main indicators:

• Average Capacity Utilization of 100% in 4Q21.
• Total Sales reached R$4.7 billion in 4Q21, up 30.6% compared to 4Q20 (11.8% above 4Q19)
• Same-storesales (SSS) grew 15% in the quarter versus 4Q19, with 14 of our 16 malls having sales above 2019 numbers;
• Same-storerent (SSR) grew 28.0% in 4Q21 versus 4Q19;
• Occupancy cost was 11.3% in 4Q21, 1.7p.p. below 4Q20 (0.4p.p above 4Q19);
• Occupancy rate reached 92% in 4Q21, an increase of 1.3p.p compared to 3Q21. In December, the occupancy rate was 92.2%, completing 6 consecutive months of increased occupancy;
• Net delinquency reached 1.4% in 4Q21, 7.9p.p. lower versus 4Q20 (2.2p.p. higher compared to 4Q19).

The 4th quarter of 2021 was marked by the excellent result of our portfolio, which showed a strong improvement in our

main performance indicators versus the same period of 2019, especially with regards to sales and rental revenues growth.

On top of that, we saw significant improvement on our net delinquency rate and have gone six months in a row increasing

our occupancy rate.

Operational indicators	4Q21	4Q20	Chg. %	4Q21	4Q19	Chg. %
Total sales (R$ '000)	4,751,747	3,639,344	30.6%	4,751,747	4,250,372	11.8%
Same-stores sales (SSS)	27.5%	-11.8%	39.3 p.p.	15.0%
Same-store rentals (SSR)(1)	28.6%	-3.3%	32.3 p.p.	28.0%
Occupancy cost (% of sales)(2)	11.3%	13.0%	-1.7 p.p.	11.3%	11.0%	0.4 p.p.
Occupancy rate	92.0%	91.0%	1.0 p.p.	92.0%	94.0%	-2.0 p.p.
Net delinquency rate	1.4%	9.3%	-7.9 p.p.	1.4%	-0.8%	2.2 p.p.

1. Figure in accrual accounting for 2021 versus 2019 (on cash accounting 35.6%).
2. At the end of December occupancy rate reached 92,2%.

Sales

Our sales continued to perform very well, allowing us to reach an all-time record number for the quarterly. Our total sales

reached R$4.75 billion in 4Q21, which represents a 11.8% growth when compared to 4Q19. The same store sales indicator

1. outperformed at 15% above the same period of 2019.

In terms of monthly sales performance, we recorded sales growth in all months of the quarter, with 108% and 113% in

November and December, respectively compared to 2019. It is important to point out that the months of November and

December of 2019, were months in which we had record sales for the season.

In same store sales (SSS), we managed to improve in all segments, with Fashion, Footwear, Leather Goods, which represents 32% of our GLA, advancing 26.8% in same-store sales over 2019. Miscellaneous Articles, Health & Beauty, Jewelry also performed well, growing 14.1% in 4Q21 versus 4Q19.

It is worth mentioning that, with the return of the schedule of films and new releases, we had an improvement in entertainment operations. This improvement reflected positively on the parking flow and occupancy of restaurants and

food courts at night.

							4Q21 x 4Q20				4Q21 x 4Q19
	Same-store sales (SSS)			% GLA
					Anchors	Other			TOTAL			Anchors	Other		TOTAL
							stores					stores
	Food & Beverage	13.1%		36.1%	43.5%			42.9%		13.7%	5.7%		6.3%
	Apparel, Shoes, Leather Goods	32.0%		42.3%	34.8%			36.0%		17.5%	29.0%		26.8%
	Household Goods, Bookstores, Stationery, Tech	12.5%		8.5%	0.4%			1.7%		4.4%	-7.2%		-5.3%
	Miscellaneous, Health & Beauty, Jewelry	17.1%		16.4%	17.5%			17.5%		6.8%	14.7%		14.1%
	Services, Entertainment, Others	25.3%		30.8%	27.5%			29.8%		8.5%	-16.2%		-0.6%
	TOTAL	100.0%		31.6%	26.7%			27.5%		12.2%	15.6%		15.0%

Rent

The positive sales result allowed us to continue with our policy of withdrawing discounts, resulting in growth, over the same period in 2019, of 28.0% in same-storerent (SSR). Despite having increased rent collections, net delinquency dropped to 1.4%, compared to 3Q21, a value close to the pre-pandemic level and occupancy cost reached 11.3% in the 4th quarter of 2021.

It is worth remembering, that the SSR is net of discounts, and that we have granted temporary discounts on part of the contractual adjustment for inflation. As mentioned above, with the continuous improvement in operations, we are removing part of these discounts and will continue to do so in the coming months. If we exclude these discounts, the SSR

indicator would have grown 41.9% in 4Q21 over the same period in 2019.

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Occupancy rate

With the strong resumption of sales in our portfolio, we had an increase in the demand for our spaces, managing to lease 66 new contracts in 4Q21. As a result, December was the 6th consecutive month of vacant area closure in 2021, reaching an average occupancy rate of 92% in 4Q21. By the end of December, the occupancy rate was 92.2%.

For additional information, contact our Investor Relations Team:

Investor Relations

Phone.: [phone] / 7134

E-mail:[e-mail]

Website:https://ri.iguatemi.com.br/

Guido Barbosa de Oliveira

CFO and Investor Relations Director

A B O U T I G U A T E M I S . A .

Iguatemi Empresa de Shopping Centers S.A. ('Iguatemi') is one of the largest full service companies in the Brazilian shopping mall sector. Its activities cover the whole range of the business, from conception, through planning, to development and management of regional shopping malls, outlets, and mixed-use real estate complexes with office towers.

Iguatemi has equity holdings in 14 malls, 2 premium outlets, 1 power center and 3 commercial towers, with a total GLA of 711 thousand sqm and an owned GLA of 471thousand sqm (based on the percentage owned by Iguatemi at each mall). Iguatemi manages its 14 malls, its premium outlets and its office towers.

Iguatemi shares [IGTI11] are listed on the São Paulo Stock Exchange (B3) and are part of the Ibovespa Index.

IR TEAM

Guido Oliveira

CFO

Marcos Souza

IR Manager

Victor Barbosa

IR Coordinator

Phone.: [phone] / 7134 [e-mail]

Any statements on the outlook for the business, estimates for operational or financial results, or the growth outlook for Iguatemi, that may be expressed in this report are projections, and as such are based exclusively on the expectations of Iguatemi's management in relation to the future of the business, and its continuing access to capital to finance the Company's business plan. Such statements are subject, substantially, to changes in market conditions, government rules, competitive pressures, the performance of the sector and the performance of the Brazilian economy, among other factors, and are, therefore, subject to change without prior notice.

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