Vasta Platform Ltd

Vasta is an educational company that has grown through acquisitions and internal development, focusing on the K-12 market. Its business history dates back to the beginning of the century, providing a comprehensive range of solutions to schools. The company's platform has been enhanced by integrating knowledge from Cogna's past ownership of school operations. A significant event in Vasta's development was the acquisition of Somos Educação S.A. ("Somos Educação") by Cogna's subsidiary Saber Serviços Educacionais Ltda. ("Saber") on October 11, 2018, for R$6.3 billion. This acquisition aimed to expand Cogna's K-12 and business-to-business (B2B) operations, integrating a full-service provider with a broad portfolio of solutions and brands for the private K-12 education market. Following this, Cogna managed Somos Group's K-12 curriculum businesses. In October 2019, Cogna consolidated Somos Group's K-12 curriculum business into Vasta by contributing 100% of Somos Educação shares into Vasta's share capital. This capital contribution was recorded at historical book value, with Vasta issuing new Class B common shares in a one-to-58 exchange for the Somos Sistemas shares contributed. Consequently, the Somos Group, along with Pitágoras, became directly controlled by Vasta and indirectly by Cogna. This restructuring of the K-12 B2B business and related subsidiaries under Vasta is referred to as the "corporate reorganization."