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is, therefore, exempt from any registration with any regulatory authorities.

All information contained in this presentation is intended to present the

management services provided by DXA and its track record. The assets
mentioned in the presentation are illiquid assets and the figures presented
are based on the profitability history presented by the Companies in recent
years. However, PAST RETURNS ARE NOT A GUARANTEE FOR FUTURE
RETURNS, and Investors are advised to carefully read any material available
before hiring any services or investment decisions. The final decision in
relation to any investment must be made by the investor, taking the risks into
account.
The best way
to invest in
companies.

Thadeu Diz
Founder, Zee.Dog
 The new normal: digital transformation and record low interest rates led to the rise of
retail investors on a global scale. Individuals are now investing digitally, and reshaping
the capital market.

GameStop

Robinhood users skyrocketed to Stocks went up by

+3M new investors in the Brazilian Stock
13 million in 2020, more than 1600% in a few days
Exchange since 2017.
double from just two years prior. due to retail
investors activities.
Source: Forbes

Selic Retail investors now account for roughly 20% of US stock-market

activity and nearly one-quarter of trades on peak days.
Source: MArkets Insider, Bloomberg

# of investors
“From investors to users”
New normal for investing

When investing in public

markets, investors expect:

- Ease of Use
- Accessible Information
- Digital experiences
The private
equity market Recent regulation changes allowed for
is preparing to the democratization of PE investments.
follow suit
Financial Advisors also expect unique
digital experiences
 In the long run, the greatest return

Private Equity Index vs. S&P 500 Index - Historical Performance

Advantages in investing
in private shares (Pre IPO):
Listed Shares x Private Equity
Annual return

When buying:
- Advantages of information
- Meeting entrepreneurs
- Industry experience

During the “Hold”:

- Help in business development
- Customer acquisition
20 years 15 years 10 years
- Efficient assistance
Source: Cambridge Associates
(March 2019)

During the sale:

- Investment funds
- Strategic buyer/IPO
- Expect the best timing for sale

Source: Cambridge Associates

 Wealthy Americans invest
about 25% of their wealth in
businesses
Ideal portfolio
Source: Survey of Consumer Finances - FED

composition. Asset Class %

10.5% 30% Bonds
ABSOLUTE RETURN 23.5%
50% Stocks
30% Bonds
20% Private Equity
55% Stocks VENTURE CAPITAL 23.5%
15% Private Equity 30% Bonds University
60% Stocks LEVERAGED BUYOUTS 17.5%
Annual Return

10% Private Equity 30% Bonds

65% Stocks
5% Private Equity 30% Bonds
70% Stocks more than 40% FOREIGN EQUITY 11.75%

0% Private Equity
reached in REAL ESTATE 9.5%

private assets BONDS AND CASH 7.5%

Source: Yale University

NATURAL RESOURCES 4.5%

8.0% DOMESTIC EQUITY 2.25%

9.0% 11.0%
Standard Deviation / Risk
Source: Neuberger Berman
 Family offices globally have
35% allocated to alternative investments

Direct investments is the largest PE

exposure for wealthy families

Source: UBS Evidence Lab

Private Equity in Latin America
($30 billion industry, as of June 2020)

Advanced Stage

Consolidation

Higher Growth

Initial Growth

EBITDA: 0 to $ 0,5 million EBITDA: $ 0,5 to $ 3 million EBITDA: $ 3 to $ 5 million EBITDA: > $ 5 million

Product already developed and Market expansion, high growth of Company consolidating itself as a Company recognized as one of
already with first customers new customers and sales leader in its segment/sector the leaders in the industry

Potentiality identified but still Market recognizing the product and Expansion of new geographies and Preparation of IPO
little implemented the potential possible acquisitions
Growth of 15 to 20% per year
Growth> 100% per year Growth of 30 to 100% per year Growth of 20 to 30% per year

First manager to specialize in the

SME segment.
Investing in the real
economy through SMEs is
the most effective way of
making a difference.

Sandra Schuster Flávio Pigatto Juliano Cortes

Partner, Docg Partner, Docg Partner and CEO, Docg

SMEs account for:

90% of all More than 50% 7 out of 10 40% of the

enterprises jobs generated in emerging markets' GDP
of jobs around the world emerging markets

Source: SEAF Impact Report 2019

 Backing
Gerald Lee
real entrepreneurs.
FOUNDER, Modern Logistics

We have already evaluated

R$1,1Bi 30,7% in R$ more than 600 companies

and those selected have
already received more than
AUM (USD 200 Million) Annual Gross IRR
(since 2012) R$500 million in investments
 Market Recognition
Investors from
around the world
trust DXA. More
than 90% of AUM
from US and
European
investors.
 Digitized Shares
Platform built to provide
transparency and
Traditional security to the final
investor.
manager
turned into a
fintech.
DXA started in 2012 serving Family
Offices and has gradually introduced
smaller investors ever since.
Unique 20+ financial
opportunities advisors, with a
on a proprietary total of 50
platform. thousand
clients.
Post deal
transparency

- Webinars
- Monthly statements
- Secondary
 ESG
Environment
Social
Governance

The ideal alliance

between High
Return and Values
that transform
society
 70% Women have a
significant presence
in DXA companies.
+ 86%
Average sales/revenue
growth of companies
invested via DXA since
Collaborating Revenue 2013.

It's not All analyzed companies need to be aligned with UN’s Sustainable
Development Goals and we prioritize those that meet the most goals.
just talk.
ESG is
strategy.
 Since 2012 Exits
Investing in
companies

2012 2014 2016 2018 2020 2021

Investments
Cases of
success
67,2% (in R$) 12,4x
IRR Gross annual Invested Capital
(in 5.5 years)
Our
team Oscar Decotelli Flávio Ramos Daniela Pfeiffer Ana Vasques
CEO CIO CCO Head of research
Partner Partner Partner Partner
Team of 23
professionals
with experience in
a variety of areas
such as finances,
management,
legal, marketing,
and commercial.
Raphael Dusi Tatiana Nascimento Bruno Olinto João Cabral Neto
Head of Marketing General Counsel Investor relations Investor relations
Bringing opportunities to investors
and financial advisors.

Building an investment community

through strategic partnerships.
Thank you