TOTVS

Investor Relations

Terms and Conditions

Navigation and public searching of this website are subject to the Terms and Conditions below:

Guarantees, Responsibilities and Damages

We do not guarantee that the contents, instruments and materials contained, utilized and offered in this website are exactly up-to-date or complete and do not accept responsibility for damages caused by eventual errors of content or shortcomings of equipment.

We do not accept express or tacit responsibility for the improper use of the information, instruments or materials made available and/or of the equipment used for this website, for whatever purpose made by any user, who has entire responsibility for eventual harm done to their own rights or of third parties, whether or not caused by this improper use.

Under no circumstances, will TOTVS, its directors, executive officers or employees be held responsible for any direct or indirect, special, incidental or consequential losses or expenses arising out of the connection with this website or use on its part or incapacity of use by anyone, or with regard to any shortcoming in performance, error, omission, interruption, defect or delay in operation or transmission, computer virus or breakdown of line or of the system, even if the Company or its representatives have been advised of the possibility of such damages, losses or expenses.

The adequate provisioning of all the resources of the Internet, without exception, is the entire responsibility of the user of this website.

We do not accept responsibility for the contents of other websites (a) whose addresses are available on the pages of this website or (b) the address of whose website is available to them. We do not guarantee the compensation of any damage caused by the websites mentioned in this item.

With regard to the exchange of messages between the user and TOTVS through the Internet, please consult its Privacy Policy.

An investment in securities involves a high degree of risk. Please review the Company's Risk Factors.

Confidential Nature of the Users Information

We reserve the right to improve the functioning of this website because of the analysis and consolidating of the information and suggestions collected and of the opportunities of these for all of the users of the website. For further advice on the use of information collected at this website, please consult its Privacy Policy.

Authorized Copyrights and Intellectual Property

Unless there is any regulation to the contrary, all the contents of the pages of this website, such as information, materials, tools, paging, graphs and drawings belong to us or to third parties, who have legally ceded their rights of usage.

Comments on EBITDA

From time to time, TOTVS discloses so-called non-GAAP financial measures, primarily EBITDA. EBITDA means income before net financial expenses, income and social contribution taxes, depreciation and amortization. EBITDA is not Brazilian or the U.S. GAAP measurement, does not represent cash flows for the periods presented and should not be considered alternatives to net income as an indicator of our operating performance or as an alternative to cash flows as an indicator of liquidity. EBITDA does not have a standardized meaning and our definition of EBITDA may not be comparable to EBITDA as used by other companies.

Although the EBITDA does not provide, according to the Brazilian Accounting Principles (BR GAAP) or the U.S. Accounting Principles (US GAAP), measures of the operational cash flows, our management uses EBITDA to measure our operating performance. Additionally, our management believes that disclosure of EBITDA can provide useful information to investors, financial analysts and the public in their review of our operating performance and its comparison to the operating performance of other companies in the same industry and other industries.

Note: Having accessed this website and some of its pages, the user will have automatically accepted all the Terms and Conditions here laid down. Therefore, please cease the navigation and public searching of the pages of this website in the event of your not agreeing with all of the above Terms and Conditions.

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