Rise Ventures - 2023 - ENG

2023
SUMMARY:
1. POSITIONING
2. TEAM & TRACK RECORD
3. GOVERNANCE
4. PORTFOLIO
5. PIPELINE
6. IMPACT & ESG
7. INVESTORS
8. FUND INFO
SUMMARY:
1. POSITIONING
3. GOVERNANCE
4. PORTFOLIO
5. PIPELINE
6. IMPACT & ESG
7. INVESTORS
8. FUND INFO
POSITIONING
• Education
1. EARLY-GROWTH EQUITY • Health
SOCIAL
2. RECURRING & ESSENTIAL DEMAND • Credit
3. IMPACT ARISING FROM THE CORE BUSINESS • Affordable Housing
• Connectivity
4. CAPITAL (SERIES A/B) + MANAGEMENT • Employability
• Public Management Efficiency
• Clean Energy
NATURE
• Efficient Use of Natural Resources
• Circular Economy
• Sanitation
• Waste Management
• Sustainable Mobility
SOCIAL NATURE • Sustainable Construction
Healthy Eating
WELL-
BEING
•
• Preventative and Integrative Health
• Healthy Body
• Psycho/Socio-emotional Education
CUMULATIVE PORTFOLIO IMPACT (LTD DEC/22)
WELLBEING
4,507 ton 1,261,362 m³ 20,778 15,906,878 m² 1,334,823 +660k ton +2,000,000

CO2 emissions water saved trees saved land saved people with packaging people with
avoided access to recycled access to quality
credit exams
SUMMARY:
1. POSITIONING
3. GOVERNANCE
4. PORTFOLIO
5. PIPELINE
6. IMPACT & ESG
7. INVESTORS
8. FUND INFO
RISE VENTURES’ TEAM
Ø ENTREPRENEURIAL MINDSETS
& PARTNERSHIP MODEL
Skin in the game: managing partners hold ~11%

of the AuM of the Fund. This compares to a
market average of between 1-4%.
Stock Option Pool: ~25% of the GP Cap Table

are available for the team to become business
partners, depending on the time accrued and
performance evaluations.
Ø FINANCIAL INCENTIVES ALLIGNED WITH LPs

Carry provision: ~30% of the amount received
relating to the performance fee of the fund will
be distributed among the whole team –
percentages adjusted to reflect role and
contribution to the result.
Ø COMPLEMENTARY BACKGROUNDS
solid track-record with profiles of different
technical formations.
Ø 50:50 GENDER BALANCE

in both leadership and execution teams.
TRACK RECORD | LEADERSHIP TEAM
RISE VENTURES’ LEADERSHIP TEAM HAS HAD A SOLID TRACK RECORD OVER THE LAST 20+ YEARS, INCENTIVE MECHANISMS ALIGNED TO THE
EXECUTION OF THIS STRATEGY (STOCK POOL AND CARRY), AS WELL AS A HIGH LEVEL OF FINANCIAL COMMITMENT (SKIN IN THE GAME) IN THE FUND.
PEDRO VILELA DANIEL MADUREIRA TIAGO LONGUINI BRUNO FAVERI

PARTNER, COO
CO-FOUNDER & CEO CO-FOUNDER & CIO CO-FOUNDER & CTO
& VALUE CREATION DIRECTOR
Business Administration
Business Administration Business Administration Naval Engineering
IBMEC/Insper &
FGV/SP & St. Gallen University FGV/SP POLI/USP & MBA INSEAD
MBA Indian School of Business
DANIELA PINTO VANESSA REIS AMANDA OLIVEIRA ALINE BATISTA

PARTNER & SENIOR TRANSACTIONS PARTNER & PARTNER & RISK & COMPLIANCE
(FR, PIPE, M&A & EXITS) CHIEF PEOPLE OFFICER CHIEF SUSTAINABILITY OFFICER DIRECTOR
BA with major in Finance and
Psychology Business Administration Business Administration
Marketing
UFMG & MBA ESALQ/USP UNIFEI & Sustainability in GRI FEI/SP & FGV/SP
Villanova University (USA)
SUMMARY:
1. POSITIONING
3. GOVERNANCE
4. PORTFOLIO
5. PIPELINE
6. IMPACT & ESG
7. INVESTORS
8. FUND INFO
GOVERNANCE
EACH GOVERNING BODY CONTRIBUTES DEPTH, AUTONOMY AND IMPARTIALITY TO THE BUSINESS. IN 2022, WE WERE RECOGNIZED AS BEST FOR THE WORLD
WITH RESPECT TO SYSTEM B GOVERNANCE, ACHIEVING THE HIGHEST SCORE IN BRAZIL (~300 COMPANIES), TOP 5% WORLDWIDE (~6,400 COMPANIES).
BOARD
MEMBERS
Pedro Vilela Daniel Tiago Longuini Bruno Faveri Bruno Igel Eduardo Lindenberg Aline Batista
CEO / FR Madureira COO Managing Investor Investor Compliance Director / BOARD OF DIRECTORS (RISE HOLDING):
Director CIO / Portfolio Partner Director Secretary to the Board
Mgmt Director • No power or jurisdiction over the FIP Investment
Committee.
RISE HOLDING S.A.
COMPANIES IN (Financial Control) • Policy control is in the hands of Rise's executive
THE GROUP
managing partners.
RISE INVESTMENT
RISE VENTURES LTDA
MANAGEMENT LTDA (Value Creation) INVESTMENT COMMITTEE:
(Asset Management)
• Discretionary for Rise Ventures’ leadership team
RISE 1 FIP – no external members.
Key:
FUNDRAISING SETTING UP THE LEADERSHIP TEAMS

COMMITTEES
INVESTMENT COMMITTEE LEGAL & TAX PROFESSIONALIZATION
VALUE COMPLIANCE & RISK COMMITTEE:
LEVERS INVESTOR RELATIONS STRATEGIC ROADMAP
IMPACT MANAGEMENT & ESG CORE PROJECTS (H2/3) • Autonomy and Independence in relation to other
COMPLIANCE & RISK CORE PROCESSES (H1) instances.
PEOPLE HUNTING & DEVELOPMENT
• Processes to monitor the entire investment process and
CORPORATE MANAGEMENT
VALUE CREATION
portfolio growth evolution.
MARKETING
CULTURE
GENERAL GOVERNANCE
SUMMARY:
1. POSITIONING
3. GOVERNANCE
4. PORTFOLIO
5. PIPELINE
6. IMPACT & ESG
7. INVESTORS
8. FUND INFO
PORTFOLIO PERFORMANCE
AGGREGATED GROSS REVENUE AGGREGATED EMPLOYEES PORTFOLIO VALUATION (BRL Bn)

PORTFOLIO PORTFOLIO & RISE FUND EQUITY (BRL M)
(BRL M) (#)
485 1.747
696
1.312 1.357
103
72
64
187 272
155
39
2020 2021 2022 2020 2021 2022 Base Value 2021 2022
FIP Investment Total Valuation

PORTFOLIO PERFORMANCE
PORTFOLIO SUMMARY
INVESTMENT FUND SHARE
• Overall, solid portfolio showing consistent growth in aggregated revenue (132% p.y.),
number of employees (65% p.y.), and valuation (27% p.y. counting from the point Rise (QUOTA) VALUE GROWTH
joined until today). (BRL)
• FIP's quotas market value is assessed on an annual basis by Kroll/Duff&Phelps and
audited by EY. Since the beginning of the FIP (March/2021), our quotas have grown
53.5% (34.2% in the last 12 months). Even so, no purchase fee is currently in place.
• We are beginning the Alba divestment (exit) process with a leading M&A boutique
that has been given a mandate. It will be an early-exit (we are in the 3rd year of the 1.535
fund's investment period). The sector is very hot, offering good opportunities.
• Jeitto opened a series B funding round for BRL 150 million with advice from a large
Brazilian bank; the valuation, under conservative scenarios, is double that of the series 1.144
A round we led. 1.000
• Beleaf is at an advanced stage of M&A discussions with 2 vegan food companies
that have a high degree of synergy with Beleaf regarding channels and portfolios.
• EuReciclo, after raising BRL 96.4M in its series B in 2022, is starting an

infrastructure investment project in the recycling chain. Rise co-investment was
made with Red Point, Endeavor Scale Up, Oria Capital, GK Ventures, Positive, Tera
Capital (Family Office from Pátria partners).
• Hilab is concluding its BRL 150-190M series B funding round. Rise co-investment was
made with excellent names (EB Capital, Monashees, Positivo Tecnologia, Península,
Qualcom), and with an ambitious national expansion plan. Jun/21 Mar/22 Mar/23
PORTFOLIO PERFORMANCE AUM Total= BRL 108M (Target: 150-200M) FIPS ARE A LATENT NEED OF INSTITUTIONALS FOR
ENSURING THEIR FIDUCIARY DUTY:
• Between the years 1994 and 2020, Brazilian PE and VC

funds reported average net IRR of 17.5% p.y. [1] ,
9.38% do AUM
with vintages frequently exceeding indices such as the
INVESTMENT FUND SHARE VALUE Alvo
BRL 15M IPCA [2], CDI [3] and IMA-B [4] :
GROWTH SINCE ITS INCEPTION: * invested
200++ M
* MARCH 2021
53.5% 50%
45%
48% 48%
40%
Middle Market
Sector: 37%
35% 35%
Credit and 30%
28%
8.81% of target 27%
150 – 180 M Financial Solutions 25% 24% 23%
AUM 20% 20% 18% 18%
BRL 14.1M 15%
14%
12% 12%
15% 15%
10%
invested 7% 8% 8% 7% 8%
5% 5%
0% 0%
-3% -1%
120 – 150 M -5%
-8%
-10%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
IPCA CDI IMA-B TIR PE TIR VC
90 – 120 M 4.94% of target

5.00% of AUM
5.63% of 6.19% of target target AUM BRL 7.9M • With a growth of 53.5%., Rise Ventures is positioned in
target AUM AUM BRL 8M invested
BRL 9M BRL 9.9M invested the upper quartile of the Brazilian VC and PE [1] market:
60 – 90 M invested invested Sector: Sector:
Recycling
Early Growth Equity
Solar Energy
Credits
368.4%
Maximum
1 Average 60.6%
30 – 60 M
Quartile Minimum 29.4%
2 Average 21.6%
Sector: Sector: 3 Average 5.9%

10 – 30 M Sector: Treatment
Plant-based Inclusive Quartile Minimum 0.1%
of Industrial Health
food Effluent 4 Average -18.4%
Expected IRR p.y. Quartile Minimum -70.7%
Average 17.5%
0-20% 20-30% 30-40% 40-50% 50+%
[1] Abvcap; Spectra Investments; Insper. Performance of Brazilian private

equity and venture capital funds from 1994 to 2020 – study of all of the 381
Circle Circle FIPs listed on the CVM and classified as private equity (PE) and venture capital
Exposure of the fund Wellbeing Nature Social (VC) by Abvcap, published in June 2022.
size: color: [2] IBGE, 2023. [3] CETIP, 2023. [4] AMBIMA, 2023.
SUMMARY:
1. POSITIONING
3. GOVERNANCE
4. PORTFOLIO
5. PIPELINE
6. IMPACT & ESG
7. INVESTORS
8. FUND INFO
PIPELINE GENERATION • Rise currently has 643 companies under • The goal for 2023 is to invest in at least one
review in its pipeline, directly linked to – more new company, with emphasis on sectors
at least – one of our three pillars: Social, that diversify our portfolio in terms of risk,
643 COMPANIES IN THE PIPELINE Nature and Wellbeing. The impact of the
prospects must be clear, measurable and
return and impact. Currently, the most
advanced conversations relate to the
connected to the UN SDGs. education, carbon and health sectors:
+30 ECOSYSTEM PARTNERS • In 2022, we focused on prospecting and Brings to Brazil the most innovative
and efficient concepts of out-of-hours
analyzing companies in the Education
50% ACTIVE GENERATION and Health sectors. We mapped and
school education, with more than
10,000 LTD students.
developed our investment theses to shape
1.3 WITH ENTREPRENEURS

USEFUL MEETINGS PER DAY our active search. Currently,
approximately 30% of the companies
Quality education at an affordable
price, with focus on demographic
under analysis are from these sectors. groups C, D and E, at 34 units.
• Of all the companies prospected in this

cycle, 50% stemmed from active searches
and 50% from referrals. Our partners
continued to involve M&A boutiques, Other theses Other theses
Private Equity and Venture Capital in education: in carbon:
management firms,
42% accelerators/incubators, institutions and
NATURE organizations that promote impact, and
others.
Other theses
• There were more than 300 meetings held in Health:
with entrepreneurs and ecosystem
48% partners, which equates to approximately
SOCIAL 1.3 meetings per working day.
10%
WELLBEING
SUMMARY:
1. POSITIONING
3. GOVERNANCE
4. PORTFOLIO
5. PIPELINE
6. IMPACT & ESG
7. INVESTORS
8. FUND INFO
POSITIVE IMPACT & ESG
RISE VENTURES IS AN IMPACT INVESTMENT MANAGER THAT SEEKS ABOVE MARKET AVERAGE FINANCIAL RETURNS.
IN ADDITION, WE DEPLOY AN ESG LENS IN SELECTING AND MANAGING OUR ASSETS WITH A FOCUS ON MITIGATING RISKS AND NEGATIVE EXTERNALITIES.
ESG INVESTMENT AND IMPACT INVESTING ON THE INVESTMENT SPECTRUM [1]
PURE FINANCE RESPONSIBLE SUSTAINABLE IMPACT PURE IMPACT
COMPETITIVE FINANCIAL RETURN
MITIGATION OF ENVIRONMENTAL, SOCIAL AND GOVERNANCE RISKS
SEEK ENVIRONMENTAL, SOCIAL AND GOVERNANCE OPPORTUNITIES
FOCUS ON MEASURABLE HIGH IMPACT SOLUTIONS
COMPETITIVE BELOW MARKET

FINANCIAL RETURN FINANCIAL RETURN
Resolve socio-
Resolve socio- Resolve socio- Resolve socio-
environmental
Little or no focus on Mitigate environmental, Adopt environmental, environmental environmental problems environmental problems
problems generating a
environmental, social or social or governance risks social or governance problems generating that require the financial without generating
financial return that may
governance practices to protect value practices to add valor competitive financial returns to the investor to financial return to the
be below the market
return for the investor be below market average investor
average
ESG INVESTMENT IMPACT INVESTING PHILANTHROPY

More focused on the manner in which a company conducts More focused on the motive and objective of the Focused on causes that do not offer a
its operations (the “how”), assessing whether its company's main activity (“what” and “why”), that is, financial return for a private agent to
practices mitigate environmental (E), social (S) and whether it seeks to solve social and environmental operate in, or where there are gaps in
governance (G) risks in order to protect its value – or challenges via its core business – in contrast, ESG government. Complements public
whether positive practices are adopted in these three investments are more focused on the identification of actions on various socio-environmental
areas to increase their value.[2] non-financial risks that may affect the value of assets. [2] topics.
[1] Table based on Aliança Pelos Investimentos and Businesss de Impacto, 2019.
[2] Quintessa, 2021.
WE EXPAND THE SUSTAINABILITY ASPECTS OF OUR PORTFOLIO COMPANIES BY RESTRUCTURING PROCESSES AND CREATING GOVERNANCE
TO TRACK POSITIVE SOCIO-ENVIRONMENTAL AND ESG IMPACT THROUGHOUT THE ENTIRE INVESTMENT CYCLE, USING INTERNAL AND EXTERNAL TOOLS.
DILIGENCE PROCESS FOR SELECTING NEW COMPANIES

MANAGEMENT OF IMPACT & ESG
IN PROSPECTING NEW THESIS FILTER 1:
PROSPECTING AND
FILTER 2:
FILTER 3:
NEGOTIATION &
CAPITAL &
MANAGEMENT
DEVELOPMENT
UNDERSTANDING CLOSING ALLOCATION
Below, we outline the criteria and tools used in Impact /ESG analysis during the 4 stages of the due
diligence process for selecting new companies:
MANAGEMENT OF IMPACT & ESG

• Identification of • Theoretical change for • Agreement of the • Tracking and reporting
PROSPECTING AND UNDERSTANDING: we only consider theses aligned with the social, opportunities aligned to the potential invested Impact and ESG Plan the Impact and ESG
environmental and wellbeing impact pillars. In addition, we analyze: the impact pillars company KPIs
i. Founders’ Impact Intentions; • Setting the Impact and
• Analysis of fit, including • Negative impact ESG KPIs • Support for the
ii. Cultural and sectoral fit with the Fund’s Impact thesis; and
focus on the impact mapping (real and implementation and
iii. Negative filter regarding high ESG risk conditions and potential business models that thesis potential) and ways to • Agreeing the tracking of the Impact
promise impact but are considered controversial by the Fund’s team. prevent/mitigate contractual clauses for and ESG plan
• Negative Socio- addressing impact and
DEVELOPMENT: we identify the invested company’s theoretical potential for change, and, in environmental impact ESG questions
filter
order to prevent and mitigate Impact/ESG risks to which it may be exposed throughout its
equity cycle, we map its real and potential negative impacts via a questionnaire based on the • Negative ESG filter
IMP/Impact Frontiers and the B Impact Assessment (BIA).
NEGOTIATON AND CLOSING: based on the material points identified in the previous step, we • Pillars of the funds • Map of the theoretical • Diligence report with • Impact and ESG book:
agree an Impact/ESG Plan for the company and, based on the GIIN/IRIS+, we establish which impact thesis change action plan for plan implementation +
indicators will be used to track its growth cycle. We also agree clauses and requirements to be mitigating the negative BIA + SDG Action
• Fit analysis tool • Impact and ESG impact and amplifying Manager
incorporated into the Investment/Shareholder Agreements needed to preserve the company's
questionnaire (ref. the positive impact
impact thesis and good ESG practices. • List of Impact exclusion IMP/Impact Frontiers • Routine of assessing
and BIA) and analysis of • Indicator panel based level of adherence to the
TOOLS
CAPITAL & MANAGEMENT ALLOCATION: Once the deal is finalized, we support the • List of ESG exclusion materiality on GIIN/IRIS+ initial impact theses and
implementation of the Impact Plan/ESG established in the previous stage, with a strong maturity of the
• Investment contracts Impact/ESG agendas
incentive for certification as B Corporation (BIA) and the use of the SDG Action Manager to set with shareholders from
goals linked to the UN Sustainable Development Goals (SDG). Quarterly routine for assessing the round. • GIIN/IRIS+ indicator
the degree of adherence to the initial impact theses and the maturity of the Impact/ESG measurement and
agendas in each Company. Tracking of GIIN/IRIS+ indicators and quarterly and annual reports quarterly and annual
to shareholders. shareholder reports.
MANAGING IMPACT THE TRANSFORMATIONS INTENDED BY EACH INVESTED COMPANY CAN BE TRANSLATED IN TERMS OF: [1]
IN THE PORTFOLIO
Change in an outcome - level of well-being
experienced by a group of people, or the
state of the natural environment, as a
result of an event or action - caused by an
organization[1]. Qualified in terms of: WHAT is the goal? WHO is affected? HOW MUCH of change has
already been achieved?
REAL v POTENTIAL
the “what” tells us what the “who” tells us which
SHORT v LONG TERM change the company is interested parties have the “how much” tells us the
contributing, whether it’s experienced the change, number of stakeholders who
INTENTIONAL v NON-INTENTIONAL
positive or negative, and and how they are have experienced the
REVERSIBLE v NON-REVERSIBLE how important the results affected. change, as well as by how
are to the interested much and for how long.
POSITIVE v NEGATIVE
parties.
contributes to causes damage to
sustainable individuals,
development communities and/or
the environment
[1] Impact Frontiers, 2023.

[2] Impact investment and business alliance, 2019.
MANAGEMENT OF ESG
PRACTICES IN THE
PORTFOLIO 1. HIGHER RETURNS:
Through the efficient use of resources and better development of human
The acronym ESG refers to an
capital, companies with strong ESG profiles are more competitive and thus To achieve this, today we use two
organizations’ Environmental, able to generate higher returns than their peers. main tools, detailed in the slides
Social and Governance practices. that follow:
2. LOWER SYSTEMIC RISK:
The maintenance of good ESG • B Impact Assessment + SDG
Disciplined management of resources and capital renders companies with
practices is directly linked to the Action Manager; and
strong ESG profiles more resilient, and less vulnerable to market shocks,
way that companies incorporate • Routine for assessing the level
which translates into a lower cost of capital and higher valuation multiples.
the best interests of multiple of adherence to the initial
stakeholders in their operation, 3. BETTER RISK MANAGEMENT: impact theses and maturity of
Through better risk control standards, companies with good – and genuine the Impact/ESG agendas in
generating benefits in terms of: [1]
– ESG practices are less likely to experience serious incidents (such as fraud, each Company.
corruption or litigation cases), which can seriously affect the value of the
company.
[1] Global Reporting Inciaitve, 2023.

• Companies that meet the highest standards of socio-environmental performance, public transparency
MANAGEMENT OF ESG and legal responsibility with the aim of balancing profit and purpose can apply for certification as a B
PRACTICES IN THE Corporation.
PORTFOLIO • We use the assessment (200+ questions about Governance, Workers, Community, Environment and
Clients) as the main reference for assessing ESG practices and creating action plans for the theses (50%
already certified and 50% in progress/roadmap). In addition, we have invested companies for which
System B certification is a mandatory contractual requirement.
• The responses are periodically verified by System B, in an ESG audit process that must be completed
every 2 years for certification to be maintained.
The B Movement is a global community of • In this process we also make use of SDG ACTION MANAGER, a tool developed by B Lab in partnership
leaders who use their businesses to build a with the UN Global Compact, which enables companies to take action in relation to Sustainable
more inclusive, equitable and regenerative
Development Goals in order to comply with the 2030 Agenda:
economic system to benefit both people and
the planet.
1. B IMPACT ASSESSMENT 3. TARGET SETTING
Goals
IN PROGRESS PAST DUE COMPLETED
285 1,027 6,347 25 0 10
BRAZIL LATAM WORLD

2. ADHERENCE TO THE SDGs 4. ACTION PLAN & TRACKING
45
%
77
%
60
%
INTERNALLY, OUR VALUES, POLICIES AND PRACTICES REFLECT PRINCIPLES OF ETHICS, TRANSPARENCY AND RESPECT FOR HUMAN RIGHTS AND THE ENVIRONMENT.
WE INCORPORATE IMPACT/ESG CRITERIA INTO OUR DECISIONS AND PROUDLY BEAR SEALS THAT ATTEST TO THIS COMMITMENT.
ENVIRONMENTAL
IMPACT & ESG
We recognize our responsibility (individually, as a company and in society) to work to
IN RISE VENTURES combat climate change, a real and urgent problem. Today, therefore, we carry out our
scope 3 carbon neutralization (indirect emissions) with a partner renowned in the
market, and we also encourage individual and collective practices, such as policies for
We minimize the negative environmental impact of our
choosing conscious suppliers and eliminating, reducing, reusing and recycling waste.
own operation by being a carbon neutral manager. We
offset 100% of our carbon emissions in 2021 and 2022,
and for 2023 we expanded our commitment to offset
We are committed to contributing to the financial, physical, professional and social well-
200% of our emissions (carbon negative).
being of all our stakeholders. Our relationships and internal work practices promote the
health, safety and well-being of our employees, with policies to encourage self-care and
quality of life with financial benefits and frequent monitoring of the team’s mental
For the second consecutive year (2021 and 2022), we
health. We also participate in Humanizadas annual company survey to promote our
SOCIAL
were recognized by the Best for Brazil Award, the result cultural evolution. We also focus on the career development and engagement of our
of a survey by Humanizadas, which evaluates the team, with long-term incentives. We promote initiatives to constantly evolve with
quality of an organization’s relationships with its respect to diversity, equity, inclusion and belonging for the entire team. We also work on
multiple stakeholders, including leaders, employees, ever-strengthening our open, transparent and trusting relationship with our suppliers
customers, partners, society and environment in and customers (investors, shareholders and invested companies).
general.
We have been a certified B Corporation since

We fulfill our fiduciary duty towards our stakeholders in order to have a transparent, safe
our inception in 2016. In 2021 we were re-
and trusting relationship, pursuing our mission to demonstrate that companies can and
GOVERNANCE
certified, reinforcing our commitment to socio- should generate financial returns with positive impact. As Rise group, we are a privately
environmental responsibility – and due to our held corporation that complies with all applicable laws and regulatory requirements,
robust structure, in 2022 we received the Best such as having a formal Board of Directors and a Shareholders’ Agreement that governs
for the World award (top 5% among all B corps our corporate relationships, with equal respect for all our investors – including minority
worldwide) in the Governance category. shareholders. As an asset manager and investment fund, we also follow all CVM,
ANBIMA and ABVCAP guidelines, with many internal controls, policies and manuals that
guide the team’s practices.
SUMMARY:
1. POSITIONING
3. GOVERNANCE
4. PORTFOLIO
5. PIPELINE
6. IMPACT & ESG
7. INVESTORS
8. FUND INFO
LPs | OUR INVESTORS
Terni Family Lindenberg Family Igel e Castro Furlan Family Ceratti Family Caio Bória Vidigal Family
Fernando, Flávio and Eduardo, Letícia and Family Rafael Furlan Mario Ceratti Ives and Rodrigo Vidigal
Van Hoegaerden Family
Rodrigo Terni Mariana Lindenberg Bruno Igel and Bianka Van Hoegaerden
Roberto de Castro
Partner Norte Asset Frigorífero Ceratti S.A. Atlas One Investments Trento Businesss
Partners Giant Steps Rede Gazeta and Management
Grupo Ultra XP Investimentos Imobiliários
Capital Rede Globo
Institutions/ MFOs
Ambev
3G Capital
Setúbal Family Enseada Family Russo Family Martins Family JDGS Baumgart Heuris
“Votorantim”
José, Beatriz, Olavo e
Office
Fernando e Ewaldo Juscelino, Camila and Lucas Gilberto Schincariol Family Family
Gabriel Setúbal Family Russo Martins
Louis de Charbonnières Luiza e Gisele Scripilliti
Aurum MFO Office
Other LPs
e Oswaldo Barros
Mendes Family
Rezende Barbosa Family
Cirri Family
Simon Family
Sarian Family
Banco Itaú Sulamérica Meraki Fund Grupo Martins Schincariol Grupo Baumgart Arlindo Eira
Marco Kelson
Seguros Grupo Votorantim Grupo Fleury
SUMMARY:
1. POSITIONING
3. GOVERNANCE
4. PORTFOLIO
5. PIPELINE
6. IMPACT & ESG
7. INVESTORS
8. FUND INFO
INFORMATION ON THE FUND
SUMMARY OF THE FUND | RISE 1 FIP
FIP STRUCTURE EXECUTION

AuM Expectation | BRL 150-200M Performance rate | 20%
Management
Projected IRR (p.a.) | 25% - 30% (Return in R$) Hurdle (p.y.) | IPCA+6%
Average Ticket per

.
Administration rate | 2.5% p.y. Admin
| BRL 7M – 15M + Follow On & Custody
Company
Investment Horizon | 10 years
Regime | CVM 476 Audit
Valuation Report Kroll responsible for carrying out the Valuation Report on the companies ahead of capital allocation and for
and Price Marking the annual update on the shares during the Fund’s investment term.
Our Investment Management Firm and Fund are legally regulated and able to receive capital from
institutional investors:
Regulatory
• Skin in the game above requirements (11% vs. 3%);
Requirements
• Regulated by CVM/AMBIMA/ABVCAP, and our quota shares are classified in CETIP;
• There are no fund shareholders with privilege rights amongst others.
*IPCA: National Consumer Price Index, Brazil’s inflation index

PERFORMANCE FEE TERMS & CONDITIONS
Stock Option Pool

Holding investors ¹ with no
Founding Partners (leadership team)
power or jurisdiction over the
(Pedro, Tiago, Daniel) partnership model based
FIP's Investment Committee.
on the time and performance
[50%] [25%] [25%]
RISE HOLDING S.A.

(Financial Control)
RISE INVESTMENT
MANAGEMENT LTDA PERFORMANCE FEE DISTRIBUTION
(Asset Management)
Among the execution team (carry) – percentages

RISE 1 FIP 30%
adjusted to role and contribution to results.
FUND’S RETURN
20% = due
PERFORMANCE FEE,
only after returning 100% of the FIP
60% Dividends to the Holding Company.
investors' capital, corrected by IPCA² +6%.
10% Cashflow retention or growth of GP.

80% = IPCA²
percentage of the return that exceeds
+6% that will be distributed to investors.
IPCA² + 6% (HURDLE RATE) [1] Investors have 25% of Rise Holding’s cap table.
This was a strategic decision taken to capitalize on the Asset Management Firm,
anchor its fundraising, and leverage the expertise and sectoral knowledge of
13 entrepreneurial families who have been partners with Rise since its inception.
They have no political power or jurisdiction over the Fund’s investment committee.
[2] IPCA = National Consumer Price Index, Brazil’s inflation index.

BACK-UP 1:
• CVs - LEADERSHIP TEAM
Ø Graduated in Business Administration from Ibmec/SP (Insper).
Ø MBA in Strategy and Finance from the Indian School of Business (ISB).
Ø Patria Investments/Blackstone (largest alternative asset management firm in LATAM):

• Structured Operations Senior Vice President.
• Led a value creation team with a turnaround agenda within a private debt fund
(BRL 887M AuM).
Ø Integration Consulting (international strategy & mgtm consulting):

• Strategy and management consulting.
• +36 projects in over 10 countries.
PEDRO VILELA • Internationalization – opened and coordinated Integration’s office in Europe.
CO-FOUNDER & CEO • Private Equities projects through consultancy.
Ø Created and sold his own business – CO.MO Mobile.
Ø Board member at B-Corp Brazil and Arcah.

Ø Graduated in Naval Engineering from the Polytechnic School of São Paulo (USP).
Ø MBA from INSEAD.
Ø Patria Investments (largest alternative asset management firm in LATAM):

• Chief Transformation Officer and Board Member at a portfolio company (civil
engineering).
• 6x gross profit growth within 2 years and a successful post-crisis turnaround context
with successful disinvestment.
• Healthcare pipeline investment thesis formulation and development
• Led Patria’s NASDAQ IPO.
BRUNO FAVERI
Ø McKinsey & Company (global leader in strategy consulting):
PARTNER, COO &
• +13 strategic roadmap projects for clients in Brazil, Portugal and Angola.
VALUE CREATION • Mentor of +10 young, high-potential professionals, half of which Ivy League alumni.
DIRECTOR
Ø Graduated in Business Administration from Villanova University,

with emphasis in Finance and Marketing.
Ø Goldman Sachs: investment banking overseeing M&A, debt and capital market
transactions in the Natural Resources segment.
Ø The Carlyle Group (private equity in the power & energy space):
• Completed the acquisition of 75.05% of Southeast PowerGen from ArcLight Capital
Partners and GIC (total EV of USD 1bn).
Ø Aqua Capital (Brazilian middle market agribusiness focused private equity fund):
• Execution leader for three portfolio companies.
• Led three disinvestment opportunities.
DANIELA PINTO • Led the fund’s first overseas transaction (acquisition and integration of Tropical
Aquaculture Products).
PARTNER & SENIOR • CFO for Geneseas Aquaculture (BRL +450M in consolidated net revenues) during key
TRANSACTIONS turnaround period, successfully leading the company’s refinancing efforts.
(FR, PIPE, M&A, EXITS)
Ø Stone Pagamentos (Brazilian unicorn acquirer business):
• Structured the finance/back-office department at early growth stage.
Ø Graduated in Business Administration from FGV/SP.
Ø Certified Portfolio Manager by CVM/AMBIMA (“CGA” Manager).
Ø Treecorp Investments (private equity fund that invests in middle market in Brazil):
• Fund structuring – regulation, financial modeling and investment thesis development.
• Fundraising for the Fund and Portfolio Companies.
• Successful disinvestment – over 30% p.a. returns in the portfolio.
Ø G5 Evercore (M&A advisor):

DANIEL MADUREIRA • Transactions – purchase, sale and mergers of companies within clean energy,
CO-FOUNDER & CIO logistics, armory, education, and consumer goods sectors.
Ø Graduated in Business Administration from FGV/SP,

with emphasis in Corporate Finance and Financial Markets.
Ø Integration Consulting (international strategy & mgtm consulting):

• +30 projects in 12 countries and 4 continents.
• Led the first projects ever conducted by Integration in 6 countries
(Pakistan, Thailand, Nigeria, Russia, Kazakhstan, and Romania).
• Specializing in go-to-market and market scan projects in emerging countries.
• Due diligence for acquisitions and partnerships between companies at a global level.
TIAGO LONGUINI • Internationalization – led Integration’s 7 years international expansion plan and
coordinated the European office along with Pedro Vilela.
CO-FOUNDER & CTO
Ø Graduated in Psychology from the Federal University of Minas Gerais (UFMG).
Ø MBA from the University of São Paulo (USP).
Ø Human resources specialist.
Ø Edge Talents (global startup with operations in emerging markets):

• Global coordinator.
• Creation, sale, and implementation of HR products (hiring, organizational diagnosis,
performance evaluation, and engagement).
• +20 key positions recruitment for small and medium-sized companies in LATAM.
Ø Edge Colombia (Bogota-based startup for organizational and career development):

VANESSA REIS • Co-founder.
PARTNER & • 100% performance growth in 5 Colombian small and medium-sized business.
CHIEF PEOPLE OFFICER • +40 organizational diagnosis projects in Latin America.
Ø Red Cross (humanitarian international organization with +16,000 collaborators):

• +40 armed conflicts specialist positions actively sourced.
• +300 people trained across LATAM.
Ø Graduated in Business Administration from the Federal University of Itajubá (UNIFEI),

with emphasis in Entrepreneurship and Finance.
Ø Certified Sustainability Professional by the Global Reporting Initiative (GRI).
Ø Unilever Brazil (multinational consumer goods company) & PK Cables Group (global
supplier for architecture and automobile industries):
• +100 controllership and financial planning projects, at both regional and global levels.
Ø Business Integration Partners (BIP – management consulting):

• 50+ projects concerning process improvement, commercial strategy, budget
AMANDA OLIVEIRA
management, strategic planning, corporate governance, logistics, human resources,
PARTNER & and technology, among others.
CHIEF SUSTAINABILITY
OFFICER Ø Co-led the development of Rise's Impact and ESG methodology with Sitawi.
Ø Graduated in Business Administration from FEI/SP.
Ø MBA in Financial Management, Controllership and Auditing from FGV/SP.
Ø Extensive experience in implementing and managing back-office departments.
Ø HSBC Bank Brazil (world’s 6th largest bank, with operations in +50 countries):
• Credit department – potential clients’ risk profile assessments (KYC).
Ø Volkswagen & Johnson Controls Automotive:

ALINE BATISTA • Human resources and supply-chain quality assurance departments.
RISK & COMPLIANCE
Ø Wolff Café (specialty coffee roasting company):
DIRECTOR
• General Manager – FP&A, treasury, legal, accounting, purchasing, internal controls
and HR.
BACK-UP 2:
• PORTFOLIO PERFORMANCE
• POSITIVE IMPACT & ESG

9.38% do AUM
200++ M
* MARCH 2021
53.5% 50%
45%
48% 48%
40%
Middle Market
Sector: 37%
35% 35%
Credit and 30%
28%
8.81% of target 27%
AUM 20% 20% 18% 18%
BRL 14.1M 15%
14%
12% 12%
15% 15%
10%
invested 7% 8% 8% 7% 8%
5% 5%
0% 0%
-3% -1%
120 – 150 M -5%
-8%
-10%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
90 – 120 M 4.94% of target

5.00% of AUM
BRL 9M BRL 9.9M invested the Upper quartile of the Brazilian VC and PE [1] market:
Recycling
Early Growth Equity
Solar Energy
Credits IRR
368.4%
Maximum
30 – 60 M 1 Average 60.6%
2 Average 21.6%
Sector: Sector:
Plant-based Inclusive 3 Average 5.9%
food Effluent
4 Average -18.4%
Expected IRR p.y.
Quartile Minimum -70.7%
0-20% 20-30% 30-40% 40-50% 50+% Average 17.5%


9.38% do AUM
200++ M
* MARCH 2021
53.5% 50%
45%
48% 48%
40%
Middle Market
Sector: 37%
35% 35%
Credit and 30%
28%
8.81% of target 27%
AUM 20% 20% 18% 18%
BRL 14.1M 15%
14%
12% 12%
15% 15%
10%
invested 7% 8% 8% 7% 8%
5% 5%
0% 0%
-3% -1%
120 – 150 M -5%
-8%
-10%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
90 – 120 M 4.94% of target

5.00% of AUM
Recycling
Early Growth Equity
Solar Energy
Credits IRR
368.4%
Maximum
30 – 60 M 1 Average 60.6%
2 Average 21.6%
Sector: Sector:
food Effluent
4 Average -18.4%
Expected IRR p.y.
0-20% 20-30% 30-40% 40-50% 50+% Average 17.5%

LOCATION: São Paulo/SP % OF TARGET AUM: 9.38% INVESTED VALUE: BRL 15M CURRENT VALUATION: BRL 643.8M
GROSS REVENUES At an early-growth stage, expansion strategies count on

ABOUT THE COMPANY: board-approved cash burning for growth until the
(BRL M) company caters to most of its total addressable market
• Jeitto offers credit and financial solutions access to the under-served, bottom-of- and efficiently utilizes economies of scale. For Jeitto, this
the-pyramid population in Brazil (C/D/E income segments). 1.526 meant an aggressive customer-based expansion – the
1.393 company has grown from BRL 6M to BRL 332M and will
• Jeitto has 4 million registered, 400k active clients - 54% of Brazilians earn a monthly become EBITDA-positive in 2023 (4% margin).
income of up to BRL 2k.¹ Through its products and a proprietary app, Jeitto improves
1.032 P&L 2020 2021 2022 2023(E)
the financial security of these people.
Gross Revenues 6.144 123.494 322.100 661.523
794
• Customers have access to a Monthly Credit Limit to use as they need; and selected (-) Deductions -358 -13.080 -29.802 -67.150
662
ones have access to Personal Loans with higher amounts and duration. Net Revenues 5.786 110.414 292.298 594.373
(-) COGS N/A -71.415 -247.465 -518.216
• Its proprietary artificial intelligence model guarantees Jeitto a higher approval rate 322 Gross Profit N/A 38.999 44.832 76.157
with controlled risk, low acquisition cost, and great UX for its customers. 123 (-) SG&A N/A -26.608 -63.832 -49.766
6 EBITDA -10.735 12.391 -18.999 26.391
• Jeitto is currently fundraising a BRL 150M Series B (roadshow to start in May/23).
EXPECTED EBITDA MARGIN IN MATURITY: 18%
22
25
20
23
26
27
21
24
INVESTMENT THESIS:
20
20
20
20
20
20
20
20
• To promote credit access for the population at the bottom of the pyramid, helping
them to afford essential expenses without compromising their financial health.
2020 2021 2022 2023 2024 2025 2026 2027 STRATEGIC ROADMAP
SECTOR:
• The Brazilian credit market operates with interest rates and spreads that are among
FUNDING CAPACITY EXPANSION STRATEGIC PARTNERSHIPS EXIT STRATEGY
the highest in the world.
Structuring new financial instruments, such as a
Commercial partnerships with players in SERIES D/E ONWARD
• C/D/E income segments suffer from high levels of poor service and, consequently, BRL 1 Bn Trade Receivables Fund (a type of
fixed-income investment widely used in
insurance, healthcare, financial education, retail VENTURE ROUND
have negative perceptions of the services they can access. Brazilian credit markets). Jeitto is fundraising a credit and online commerce for customer
acquisition.
BRL 150M Series B to structure this Fund.
STRATEGIC INVESTOR
• Jeitto developed an effective predictive model that allows it to better explore
business opportunities while promoting financial inclusion and customer satisfaction. COLLECTION PROCESSES IMPROVEMENT
IPO
---------------- Ongoing improvement process that accompanies credit policies adjustments for addressing
Brazilian macroeconomic scenario changes.
[1] ABEP
Ø POSITIVE IMPACT & ESG WHAT IS THE GOAL? WHO IS AFFECTED?
Improve access to, and use of, Private citizens, men and women, from all
responsible financial services for regions of Brazil, from demographic groups C,
IMPACT THEME: historically underserved populations D and E. Internal company reports show that
by improving financial resilience. ~78.7% of clients with credit granted have a
FINANCIAL INCLUSION monthly income of no more than R$ 3.3k.
ADRESSED SDGs HOW MUCH CHANGE HAS BEEN ACHIEVED?
KPIs based on 2022 life to date (2016+)
volume
financed (BRL) 580M 950M
number of
clients with
credit 577,030 1,321M
granted

9.38% do AUM
200++ M
* MARCH 2021
53.5% 50%
45%
48% 48%
40%
Middle Market
Sector: 37%
35% 35%
Credit and 30%
28%
8.81% of target 27%
AUM 20% 20% 18% 18%
BRL 14.1M 15%
14%
12% 12%
15% 15%
10%
invested 7% 8% 8% 7% 8%
5% 5%
0% 0%
-3% -1%
120 – 150 M -5%
-8%
-10%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
90 – 120 M 4.94% of target

5.00% of AUM
Recycling
Early Growth Equity
Solar Energy
Credits IRR
368.4%
Maximum
30 – 60 M 1 Average 60.6%
2 Average 21.6%
Sector: Sector:
food Effluent
4 Average -18.4%
Expected IRR p.y.
0-20% 20-30% 30-40% 40-50% 50+% Average 17.5%

LOCATION: São Paulo/SP % OF TARGET AUM: 4.94% INVESTED VALUE: BRL 7.9M CURRENT VALUATION: BRL 491.4M

(BRL M)
company caters to most of its total addressable market
• EuReciclo is a pioneer techonology business in Brazil that generates and sells recycling and efficiently utilizes economies of scale. For eureciclo,
credit, connecting companies that generate solid waste (consumer goods, mainly) 590 this means an aggressive in progress geographic
with recycling operators that sort and correctly dispose and treat this garbage. expansion (+300 triage centers to be opened) across
Brazil and international expansion to LATAM.
• Its main product concerns environmental compensation plans for its customers, who
receive the right to have a EuReciclo stamp on their packaging. 393 P&L 2021 2022 2023 (E)
Gross Revenues 27.215 47.364 99.460
• The company was inspired by European recycling models and played a leading role in (-) Deductions -1.306 -1.394 -5.305
the construction of the Brazilian National Solid Waste Policy. 254 Net Revenues 25.909 45.971 94.155
(-) COGS -13.250 -29.644 -58.654
• Eureciclo fundraised a BRL 96,5M Series B round in 2022 (100% concluded). 169 Gross Profit 12.659 16.327 35.501
99 (-) SG&A -13.391 -32.188 -62.026
47 EBITDA -732 -15.861 -26.525
INVESTMENT THESIS: 27
• Eureciclo to become a market-consolidation player, given it is the best-positioned 2021 2022 2023 2024 2025 2026 2027
business platform to explore opportunities in the recycling value chain.
SECTOR:
• Compared to other countries, Brazil has very low recycling and waste recovery rates
(3% in Brazil vs. 32% in the US and 48% in Europe 3, 4, 5). NEW PARTNERSHIPS
Approval and development for solid waste collection and triage – eureciclo’s current operation EXIT STRATEGY
• About 90 million tons of solid urban waste is annually generated in Brazil, but its bottleneck is related to supply capacity,
rather than demand.
processing and logistics infrastructure is still quite insufficient. 1, 2 SERIES D/E ONWARD
GREENFIELD VENTURE ROUND
M&A
• It is known that this is a consolidation market, a fact that corroborates the EuReciclo CAPACITY
thesis and its position as a pioneer and market leader in Brazil. Project finance: 6 Material Recovery
Consolidation of market STRATEGIC INVESTOR
Facilities (MRF) ongoing projects and
installed capacity
BRL 1 Bn estimated CAPEX.
--------------------- IPO
BRAND AWARENESS
[1] ABRELPE, 2021. [2] DAMF, 2021. [3] ANCAT, 2021. Eureciclo is already a reference player in the sector, but as
the Impact/ESG agenda gains momentum in the market,
[4] EPA (enviromental protection agency). [5] European Comisson. strengthening its branding becomes even more necessary.
Ø POSITIVE IMPACT & ESG
IMPACT THEME: WHAT IS THE GOAL? WHO IS AFFECTED?
PREVENTION OF POLLUTION
Improving sustainability of industrial Clients (companies of all sectors and sizes in
& DECENT WORK practices through recycling of post- Brazil), suppliers (small and medium-sized
consumption waste, improving operators and recycling cooperatives) and,
working conditions and formalizing by extension, the planet.
the recycling chain.
KPIs based on life to date (2017+)
tons of post-
consumption
waste +660k tons
compensated
amount transferred to +R$ 39M

recycling sorting in remuneration to
centers +299 sorting centers throughout the country,
as well as presence in other countries.

9.38% do AUM
200++ M
* MARCH 2021
53.5% 50%
45%
48% 48%
40%
Middle Market
Sector: 37%
35% 35%
Credit and 30%
28%
8.81% of target 27%
AUM 20% 20% 18% 18%
BRL 14.1M 15%
14%
12% 12%
15% 15%
10%
invested 7% 8% 8% 7% 8%
5% 5%
0% 0%
-3% -1%
120 – 150 M -5%
-8%
-10%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
90 – 120 M 4.94% of target

5.00% of AUM
Recycling
Early Growth Equity
Solar Energy
Credits IRR
368.4%
Maximum
30 – 60 M 1 Average 60.6%
2 Average 21.6%
Sector: Sector:
food Effluent
4 Average -18.4%
Expected IRR p.y.
0-20% 20-30% 30-40% 40-50% 50+% Average 17.5%

LOCATION: Curitiba/PR % OF TARGET AUM: 5% INVESTED VALUE: BRL 8M CURRENT VALUATION: BRL 486.9M
ABOUT THE COMPANY: At an early-growth stage, expansion strategies count on

GROSS REVENUES
board-approved cash burning for growth until the
• Hilab is a technology company focused on healthcare products, specializing in (BRL M) company caters to most of its total addressable market
developing Remote Lab Testing (RLT). and efficiently utilizes economies of scale. For Hilab, this
450
meant expanding its manufacturing capacity during
• The healthtech offers a complete and unique point-of-care solution, generating COVID-19, when it offered more than 4M exams and
accessibility and convenience for patients and clients with regards to health exams. grew to over 200 employees. It’ll become EBITDA-
316 positive in 2023 (breakeven).
• Its service includes hardware – devices patented by the company to process analyses
P&L 2022 2023(E)
with a small blood sample – and software that uses artificial intelligence.
Gross Revenues 20.800 58.178
• The digital report signed by a healthcare professional becomes available in minutes on (-) Deductions -1.662 -3.287
its platform for a fraction of the cost and the same quality level. 158 Net Revenues 19.138 54.891
(-) COGS -7.461 -30.356
• Humanization is the central pillar for the company - it does not use syringes, and 93 Gross Profit 11.677 24.535
when a nasopharyngeal sample is required, a thinner and more flexible rod is utilized. 58 (-) SG&A -39.637 -23.919
21 EBITDA -27.961 616
• Hilab is currently fundraising a BRL 150-190M Series B round (70% concluded).
2022 2023 2024 2025 2026 2027
INVESTMENT THESIS:
• Hilab to be one of the major Brazilian RLT specialists, combining human intelligence
and technologies such as Artificial Intelligence and the Internet of Things. 2020 2021 2022 2023 2024 2025 2026 2027 STRATEGIC ROADMAP
SECTOR: EXAM PORTFOLIO EXPANSION

Introduction of new equipment - one in the final testing phase with EXIT STRATEGY
• The Brazilian health market has seen rapid growth in recent years, with great launch scheduled for 2023 1st semester.
innovation and accessibility potential to explore.
SERIES D/E ONWARD
B2B EXPANSION
VENTURE ROUND
• Although the number of exams in Brazil is around 2 billion/year, 33% of Hilab patients Today, Hilab’s operation mainly focuses on pharmacies
have not had a blood test in the past two years. (B2B2C), so the company has been targeting clinics,
hospitals, government and large health providers in Brazil. STRATEGIC INVESTOR
• About 160 million inhabitants do not have a health plan and rely exclusively on the
INTERNATIONALIZATION IPO
SUS (public healthcare system).
Hilab has good contacts and
product demand, mainly in
• The top 31 most common health exams (out of potential 5.000) represents 90% of the countries in Africa, Asia, and
LATAM.
volume demanded.
WHAT IS THE GOAL? WHO IS AFFECTED?
IMPACT THEME:
Improved access to less invasive Private citizens, men and women, from
DEMOCRATIZATION & laboratory tests, with speedy, safe demographic groups B-, C and D, via
ACCESSIBILITY TO HEALTH diagnoses for low-income populations pharmacies, research institutes, municipalities
IN BRAZIL and/or geographically isolated and clinics throughout Brazil - including
communities. remote areas, riverside communities and
indigenous villages.
number of people
impacted by Hilab
exams +2M
number of
municipalities
+1,300
(approximately 50% of Brazilians are less than
where Hilab is
present 4 minutes away from Hilab equipments)

9.38% do AUM
200++ M
* MARCH 2021
53.5% 50%
45%
48% 48%
40%
Middle Market
Sector: 37%
35% 35%
Credit and 30%
28%
8.81% of target 27%
AUM 20% 20% 18% 18%
BRL 14.1M 15%
14%
12% 12%
15% 15%
10%
invested 7% 8% 8% 7% 8%
5% 5%
0% 0%
-3% -1%
120 – 150 M -5%
-8%
-10%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
90 – 120 M 4.94% of target

5.00% of AUM
Recycling
Early Growth Equity
Solar Energy
Credits IRR
368.4%
Maximum
30 – 60 M 1 Average 60.6%
2 Average 21.6%
Sector: Sector:
food Effluent
4 Average -18.4%
Expected IRR p.y.
0-20% 20-30% 30-40% 40-50% 50+% Average 17.5%

LOCATION: Pouso Alegre/MG % OF TARGET AUM: 8.81% INVESTED VALUE: BRL 14.1M CURRENT VALUATION: BRL 78.4M
ABOUT THE COMPANY:

GROSS REVENUES Alba is a cash generator business since our aquisition. We
(BRL M) are working on expanding its supply chain capacity in
• Alba Energia is a photovoltaic systems (PV) integrator headquartered in Pouso
order to serve a giant market in the countryside in Brazil.
Alegre city, Minas Gerais estate.
250
• The company covers the entire country, but mainly serves the southern regions of P&L 2020 2021 2022 2023(E)
Minas Gerais state and the northeast of São Paulo.
Gross Revenues 21.891 41.351 61.590 70.167
• The company is a one-stop shop that designs, projects, and installs rooftop self- (-) Deductions -799 -1.676 -2.426 -2.689
162 Net Revenues 21.092 39.675 59.163 67.478
consumption solar energy projects for B2B clients. It has developed +1500 projects in
Brazil. (-) COGS -14.208 -28.514 -43.479 -45.286
116
Gross Profit 6.884 11.161 15.684 22.191
• Main target segments are retail and agribusiness – developing and installing 88
70 (-) SG&A -4.076 -11.156 -13.884 -14.966
distributed generation projects in the turn-key model (integration with electric 62 EBITDA 2.809 5 1.801 7.225
concessionaires). 41
22
INVESTMENT THESIS:
22
25
20
23
26
27
21
24
20
20
20
20
20
20
20
20
• Alba to become the best photovoltaic asset in southeast Brazil focused on B2B and
countryside cities and become an acquisition target by a market consolidator (Alba is
already a target and we are starting an early-exit process with the company).
SECTOR:
• From 2012 to 2021, 715,000 PV systems were installed in Brazil, which added up to a ROOFTOP PHOTOVOLTAIC SYSTEMS
total installed power of 7GW. ¹ Organic growth and presales, pricing and financing processes improvement EXIT STRATEGY
POST SALES SERVICES
• Of these, 4GW (57%) corresponds to distributed generation, Alba's focus. ¹ Maintenance and cleaning services for Alba’s clients GROWTH PRIVATE EQUITY
(USD 100-200M TICKET
SMALL INSTALLERS RESALE
• The Brazilian distributed generation infrastructure will have a generation potential of SIZE)
Resale of products for small residential installers
25GW, representing 4.6% of the country's energy matrix by 2030. ¹
POWER TRADING STRATEGIC INVESTOR
Wholesale solar electricity trading
• There are some bigger sizes PE funds working to consolidate this market in Brazil.
EV CHARGING STATIONS
------------------------ Eletric vehicle (EV) superchargers
M&A (CONSOLIDATION)
[1] ABSOLAR, 2022.
Ø POSITIVE IMPACT & ESG WHAT IS THE GOAL? WHO IS AFFECTED?
To increase the generation of clean Climate change mitigation activities are

energy through low or zero carbon effectively global and perennial. Customers,
IMPACT THEME: alternatives and contribute to energy employees, suppliers, and the planet itself,
transition global plans. for example, are all directly affected.
CLEAN ENERGY

2022
tons of
CO2 not emitted 1,238 2,865
trees
saved 8,974 20,778
(reference)

9.38% do AUM
200++ M
* MARCH 2021
53.5% 50%
45%
48% 48%
40%
Middle Market
Sector: 37%
35% 35%
Credit and 30%
28%
8.81% of target 27%
AUM 20% 20% 18% 18%
BRL 14.1M 15%
14%
12% 12%
15% 15%
10%
invested 7% 8% 8% 7% 8%
5% 5%
0% 0%
-3% -1%
120 – 150 M -5%
-8%
-10%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
90 – 120 M 4.94% of target

5.00% of AUM
Recycling
Early Growth Equity
Solar Energy
Credits IRR
368.4%
Maximum
30 – 60 M 1 Average 60.6%
2 Average 21.6%
Sector: Sector:
food Effluent
4 Average -18.4%
Expected IRR p.y.
0-20% 20-30% 30-40% 40-50% 50+% Average 17.5%

LOCATION: Itapevi/SP % OF TARGET AUM: 6,19% INVESTED VALUE: BRL 9,9M CURRENT VALUATION: BRL 40,2M

(BRL M) company caters to most of its total addressable market
• Okena operates in the off-site treatment of effluents and industrial sludge through 150 and efficiently utilizes economies of scale. For Okena, this
its water treatment plant in Itapevi/SP. meant the recruitment of a leadership team with the
right incentives for its growth cycle. The company will
• Strong presence in Greater São Paulo area, Rio de Janeiro and Minas Gerais states. become EBITDA-positive in 2023 (12% margin).
P&L 2020 2021 2022 2023(E)
• Its main business is to receive, treat (biological, physical-chemical, and sludge drying 79 Gross Revenues 10.237 12.693 16.981 21.485
processes) and correctly dispose of effluents from the most diverse industries.
(-) Deductions -679 -1.464 -1.897 -2.972
Net Revenues 9.558 11.229 15.084 18.513
• Okena's main objective is to ensure that the water used in industrial processes returns 48
(-) COGS -5.424 -6.734 -8.553 -9.922
to nature, with high-quality standards, preserving our ecosystem.
30 Gross Profit 4.134 4.496 6.530 8.591
17 21
INVESTMENT THESIS: 13 (-) SG&A -4.343 -5.153 -8.150 -5.999
10
EBITDA -208 -657 -1.620 2.593
• Okena to become a reference player in off-site effluents treatment, and to develop
innovative circular economy solutions to the various industrial chains served. EXPECTED EBITDA MARGIN IN MATURITY: 30%
27
21
24
22
25
20
23
26
20
20
20
20
20
20
20
20
SECTOR:
• The effluent treatment market is part of the production chain of the industrial sector in
broad terms, being a recurrent, perennial, and essential market.
• The global liquid waste management market was valued at USD 90.3 billion¹ in 2018.
Brazil projected growth is the highest in the world.² GTM
CIRCULAR ECONOMY
STRATEGY EXIT STRATEGY
------------ Strategic project for defining a
go-to-market (GTM) plan and Series B fundraising for dedicated circular
improving Okena’s sales/CRM economy business unity
GROWTH PRIVATE
[1] Grand View Research, processes EQUITY (USD 100-200M
Liquid Waste Management Market Size, Share TICKET SIZE)
& Trends Analysis Report By Source (Residential, Commercial), NEW PLANT
By Industry, By Service (Collection, Transportation), And Segment Forecasts, 2019-2025. Double Okena’s current STRATEGIC INVESTOR
[2] Mordor Intelligence, LIQUID WASTE MANAGEMENT MARKET – GROWTH, TRENDS, water treatment capacity and
COVID-19 IMPACT, AND FORECASTS (2023 - 2028). improve its operation processes
WASTE MANAGEMENT Improve the sustainability of industrial Clients (companies of all sizes and different
water management. industries in the South and Southeast
regions), aquatic ecosystems of large rivers
in the São Paulo watershed and, by
extension, the planet.
tons of
effluent treated
85,756 382,160
(water recovered) tons tons
Olympic
swimming pools
treated
34 153
(reference)

9.38% do AUM
200++ M
* MARCH 2021
53.5% 50%
45%
48% 48%
40%
Middle Market
Sector: 37%
35% 35%
Credit and 30%
28%
8.81% of target 27%
AUM 20% 20% 18% 18%
BRL 14.1M 15%
14%
12% 12%
15% 15%
10%
invested 7% 8% 8% 7% 8%
5% 5%
0% 0%
-3% -1%
120 – 150 M -5%
-8%
-10%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
90 – 120 M 4.94% of target

5.00% of AUM
Recycling
Early Growth Equity
Solar Energy
Credits IRR
368.4%
Maximum
30 – 60 M 1 Average 60.6%
2 Average 21.6%
Sector: Sector:
food Effluent
4 Average -18.4%
Expected IRR p.y.
0-20% 20-30% 30-40% 40-50% 50+% Average 17.5%

LOCATION: São Paulo/SP % OF TARGET AUM: 5.63% INVESTED VALUE: BRL 9M CURRENT VALUATION: BRL 6.6M
ABOUT THE COMPANY:

• Beleaf is a company that manufactures and sells 100% plant-based ready-to-eat (BRL M) board-approved cash burning for growth until the company
meals in the online - direct to consumer e-commerce– and offline sales channels. caters to most of its total addressable market and
110 efficiently utilizes economies of scale. For Beleaf, this meant
• Currently, it serves the metropolitan regions of São Paulo, Campinas, and Rio de a 4x bigger state-of-the-art new manufacturing facility,
Janeiro. built in 2021. Beleaf is currently under advanced M&A
85 negotiations and shallreach its breakeven point in 2023.
• Target public is the "flexitarian segment" (people looking to reduce their animal
protein consumption). P&L 2020 2021 2022 2023 (E)
57 Gross Revenues 6.826 9.321 6.531 30.089
• Portfolio comprises with 30+ dish options, in addition to portions, soups, and sweets. (-) Deductions -860 -767 -539 -2.481
41 Net Revenues 5.966 8.554 5.992 27.608
• Being a certified B Corporation, its purpose is to bring balance from the table to life. 30 (-) COGS -3.409 -5.865 -3.718 -11.434
Gross Profit 2.557 2.688 2.274 16.174
INVESTMENT THESIS: 9 (-) SG&A -2.925 -6.355 -4.596 -16.133
7 7 EBITDA -368 -3.667 -2.322 41
• Beleaf to become a Brazilian reference brand within the plant-based food ecosystem,
with differentiated know-how for producing and the greatest UX for the clients. EXPECTED EBITDA MARGIN IN MATURITY: 12%
22
25
20
23
26
27
21
24
20
20
20
20
20
20
20
20
SECTOR:
• Growth in plant-based market will largely stem from shoppers looking to occasionally
swap out meat proteins with something perceived to be healthier. ¹ 2020 2021 2022 2023 2024 2025 2026 2027 STRATEGIC ROADMAP
• In Brazil, health is the main reason for reducing meat consumption. ² ONLINE, D2C
• “Flexitarians” (people looking to reduce their animal protein consumption) already Marketing processes improvement to scaling up its online, direct-to-consumer business as usual
represent 52% of Brazilians. ² EXIT STRATEGY

FOODSERVICE
• Plant-based shoppers spend 61% more than the average consumer. ² Expansion of Beleaf’s presence in restaurants and corporate cafeterias
SERIES C/D ONWARD
OFFLINE FOOD RETAIL VENTURE ROUND
• The COVID-19 pandemic had a positive impact on domestic consumption via online
channels in 2020-2021, and now the whole market is undergoing reorganization. Start selling in supermarkets and offline food retailers STRATEGIC INVESTOR
--------------------- M&A
Discussions in process with 3
potential companies
[1] Bloomberg Intelligence, 2020. [2] The Good Food Institute, 2020. [3] Vegan Business, 2021.

MITIGATION OF CLIMATE CHANGE
Mitigation of carbon emissions by Climate change mitigation activities are
& HEALTHY EATING reducing the use of natural effectively global and perennial. Customers,
resources and promoting healthy employees, suppliers, and the planet itself,
eating using 100% plant-based for example, are all directly affected.
products.
tons of
CO2 not emitted 368 1,642
liters of water
saved 197,106 879,202
m2
of land
saved
3.6M 15.9M

9.38% do AUM
200++ M
* MARCH 2021
53.5% 50%
45%
48% 48%
40%
Middle Market
Sector: 37%
35% 35%
Credit and 30%
28%
8.81% of target 27%
AUM 20% 20% 18% 18%
BRL 14.1M 15%
14%
12% 12%
15% 15%
10%
invested 7% 8% 8% 7% 8%
5% 5%
0% 0%
-3% -1%
120 – 150 M -5%
-8%
-10%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
90 – 120 M 4.94% of target

5.00% of AUM
Recycling
Early Growth Equity
Solar Energy
Credits IRR
368.4%
Maximum
30 – 60 M 1 Average 60.6%
2 Average 21.6%
Sector: Sector:
food Effluent
4 Average -18.4%
Expected IRR p.y.
0-20% 20-30% 30-40% 40-50% 50+% Average 17.5%

FIP RISE | Portfolio Performance
Beleaf Okena Alba Energia Jeitto EuReciclo Hilab
Sector: Sector: Sector: Sector: Sector: Sector: Health

Plant-based food Management of Renewable/Solar Credit Recycling
industrial waste Energy
Business: Manufacture and Business: Offsite Business: Integrator of Business: Fintech working with Business: Technology that connects Business: Healthtech specialized
sale of 100% plant-based treatment of industrial photovoltaic systems credit and financial services for companies that sell products and in developing remote laboratory
flash-frozen meals. waste the C and D demographic packaging to recycling tests.
cooperatives and operators
Founded in 2016 by partners Fernando Founded in 2010 by Ricardo Glass, partnership Founded in 2010 by Fernando Costa and Marcos Founded in 2014, Jeitto offers credit tailored to Founded in 2015, EuReciclo (or New Hope Founded in 2004, Hilab is a technology company
Bardusco, Fábio Biasi and Jonatas Mesquita; with Rise began in 2020. Entrepreneur is one of Campanharo, both electrical engineers from INATEL. improving the financial security of people from Ecotech) can be considered as the leader and focused on healthcare products, specializing in
Rise became a partner in 2017. the leaders of the Conscious Capitalism movement Rise Ventures became a partner in 2017. demographic groups C, D and E in Brazil, pioneer in solid waste management technologies developing Remote Laboratory Tests (TLR). The
and curator of System B and the company is without placing an unreasonable debt burden, in Brazil and LATAM. healthtech offers a complete and unique point-
certified B Corporation and signatory to the UN while focused on transparency and the building of-care solution, generating accessibility and
It has a diversified portfolio of 30 products Global Compact. It is a pioneer in the sector with a clear and effective convenience for patients and clients.
of a relationship based on mutual trust.
including meals, desserts, snacks and is commercial strategy: sales of photovoltaic systems The company operates as a Recycling Credit
expanding geographically in Brazil, considered (rooftop) in the “retail” model with both a showroom operator that intermediates in the generation
a pioneer in this sector. Company specialized in offsite treatment of and a door2door team. The extensive experience of the founders, and sale of credit for waste generating Its service includes hardware – devices developed
effluents and industrial sludge, differentiated by its combined with the robust proprietary artificial companies. It is the only company authorized to and patented by the company to process
customized solutions, from support in obtaining intelligence model of the company, ensure issue recycling credits/certificates for analyses with a small blood sample – and
environmental documentation to its approach to Based in Pouso Alegre (MG), Alba is a regional leader, Jeitto achieves a higher approval rate with environmental compensation of post- software for analyzing the results using artificial
upcycling. with more than 1200 projects delivered, while also being controlled risk, a low acquisition cost and a consumption packaging. The company helped intelligence.
a founding member of two of the main photovoltaic simple and accessible user experience for its draw up regulations and ordinance in a market
associations (ABGD and G5 Solar). customers with a high barrier to entry.
Value generated from Rise Value generated from Rise Value generated from Rise Venture's Value generated from Rise Venture's
Venture's involvement since 2017: Venture's involvement since 2020: involvement since 2017: involvement since 2021:
Rise invested in 2022. Rise invested in 2023.
Gross Revenue: Valuation of ~7x Gross Revenue: Valuation of ~2x Gross Revenue: Valuation of ~9x Gross Revenue: Valuation of ~3x
(2017: R$883k à 2022: R$6.5M) (2020: R$10M à 2022: R$17M) (2017: R$6.7M à 2022: R$61,6M) (2021: R$123M à 2022: R$322M)
Financial Financial Financial Financial

Results 2018 2019 2020 2021 2022 Results 2018 2019 2020 2021 2022 Results 2018 2019 2020 2021 2022 Results 2019 2020 2021 2022 Financial Results Financial Results
2020 2021 2022 2022
(R$’ 000) (R$’ 000) (R$’ 000) (R$’ 000) (R$’ 000) (R$’ 000)
Net Net
983 2,266 5,966 8,554 5,992 10,608 18,355 9,558 11,229 15,084 Net Revenue 8,492 14,294 21,091 39,675 59,163 Net Revenue 685 5,785 110,414 292,298 Net Revenue 6,748 28,683 44,834 Net Revenue 19,138
Revenue Revenue
KPI 2018 2019 2020 2021 2022 KPI 2018 2019 2020 2021 2022 KPI 2018 2019 2020 2021 2022 KPI 2021 2022 KPI 2020 2021 2022 KPI LTD
Dishes Volume # Projects # of people

41K 96K 285K 462K 266K 46,686 74,358 48,853 62,967 85,756 N/A 109 237 349 450 Credit conceded R$ 302M R$ 578M + 2M
sold Treated (m³) Implemented # of companies impacted
certified 3,730 5,629 +6,700
Clients (cumulative) + 1300 (approximately 50% of Brazilians
LTV n/a R$ 420 R$ 533 R$ 487 R$ 524 1,129 1,105 987 1,142 1,270 kWp installed 1,765 3,825 5,996 10,774 17,000 # Clients 2M 4M # of municipalites
Attended are less than 4 minutes from Hilab
served equipment).
FIP RISE | Portfolio Impact and ESG
Beleaf Okena Alba Energia Jeitto EuReciclo Hilab
Sector: Sector: Sector: Sector: Sector: Sector:

Plant-based food Management of Renewable/Solar Energy Credit Recycling Health
industrial waste
Impact Thesis: Impact Thesis: Impact Thesis: Impact Thesis: Impact Thesis: Impact Thesis:
Mitigation of climate change Waste management Clean Energy Financial inclusion Prevention of pollution Democratization and accessibility
and practical nutrition. and decent work to health in Brazil.
Meals sold: Volume Treated (m³): KwP Installed: Number of Clients: Number of companies certificated: Number of devices distributed
226,288 1,187,789 85,756 382,160 17,000 39,360 1,923,886 3,988,231 +6,700 +5,000
in the last 12 months. Life to Date. in the last 12 months. Life to Date. in the last 12 months. Life to Date. in the last 12 months. Life to Date. Life to Date. Life to Date.
Measured impact: Measured impact: Measured impact: Measured impact: Measured impact: Measured impact:
In the last Life to In the last Life to In the last Life to In the last Life to Life to Life to
12 months Date 12 months Date 12 months Date 12 months Date Date Date
s
CO2 emissions 1,465 (ton) Total volume of 382,160 (m³) CO2 emissions 2.865 (Ton) #Clients with credit
avoided Volume post- Number of people
liquid waste treated avoided granted
= 66,857 100km = 2.8M 15min = 116,671 100km
1,321,030 consumption impacted by Hilab
packaging +660k tons through accessing +2M
368 (Ton) journeys 85,756 (m3) showers 1.238 (Ton) journeys 577,030
compensated exams
Drinking water 784M (l) Total volume Brazilian

Trees saved Value passed on to
saved (vol.) loaned 950M (BRL) +39M municipalities in
20,778 recycling sorting +1,300
= 6.5M 15min (BRL) which Hilab is
197M (L) showers 8,974 (units) (units) centers
580M (R$) present
Area of land saved 15.9M (m²)

= 2,228 football
5.3M (m²) fields
2023
TOGETHER
WE RISE

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2023

CUMULATIVE PORTFOLIO IMPACT (LTD DEC/22)

4,507 ton 1,261,362 m³ 20,778 15,906,878 m² 1,334,823 +660k ton +2,000,000

Skin in the game: managing partners hold ~11%

Stock Option Pool: ~25% of the GP Cap Table

Ø FINANCIAL INCENTIVES ALLIGNED WITH LPs

Ø 50:50 GENDER BALANCE

PEDRO VILELA DANIEL MADUREIRA TIAGO LONGUINI BRUNO FAVERI

DANIELA PINTO VANESSA REIS AMANDA OLIVEIRA ALINE BATISTA

FUNDRAISING SETTING UP THE LEADERSHIP TEAMS

AGGREGATED GROSS REVENUE AGGREGATED EMPLOYEES PORTFOLIO VALUATION (BRL Bn)

FIP Investment Total Valuation

• EuReciclo, after raising BRL 96.4M in its series B in 2022, is starting an

• Between the years 1994 and 2020, Brazilian PE and VC

IPCA CDI IMA-B TIR PE TIR VC

90 – 120 M 4.94% of target

Sector: Sector: 3 Average 5.9%

[1] Abvcap; Spectra Investments; Insper. Performance of Brazilian private

1.3 WITH ENTREPRENEURS

• Of all the companies prospected in this

ESG INVESTMENT AND IMPACT INVESTING ON THE INVESTMENT SPECTRUM [1]

PURE FINANCE RESPONSIBLE SUSTAINABLE IMPACT PURE IMPACT

COMPETITIVE FINANCIAL RETURN

MITIGATION OF ENVIRONMENTAL, SOCIAL AND GOVERNANCE RISKS

SEEK ENVIRONMENTAL, SOCIAL AND GOVERNANCE OPPORTUNITIES

FOCUS ON MEASURABLE HIGH IMPACT SOLUTIONS

COMPETITIVE BELOW MARKET

ESG INVESTMENT IMPACT INVESTING PHILANTHROPY

DILIGENCE PROCESS FOR SELECTING NEW COMPANIES

MANAGEMENT OF IMPACT & ESG

[1] Impact Frontiers, 2023.

[1] Global Reporting Inciaitve, 2023.

285 1,027 6,347 25 0 10

BRAZIL LATAM WORLD

We have been a certified B Corporation since

FIP STRUCTURE EXECUTION

Average Ticket per

*IPCA: National Consumer Price Index, Brazil’s inflation index

Stock Option Pool

RISE HOLDING S.A.

Among the execution team (carry) – percentages

investors' capital, corrected by IPCA² +6%.

10% Cashflow retention or growth of GP.

[2] IPCA = National Consumer Price Index, Brazil’s inflation index.

Ø Graduated in Business Administration from Ibmec/SP (Insper).

Ø Patria Investments/Blackstone (largest alternative asset management firm in LATAM):

Ø Integration Consulting (international strategy & mgtm consulting):

Ø Created and sold his own business – CO.MO Mobile.

Ø Board member at B-Corp Brazil and Arcah.

Ø MBA from INSEAD.

Ø Patria Investments (largest alternative asset management firm in LATAM):

Ø Graduated in Business Administration from Villanova University,

Ø Graduated in Business Administration from FGV/SP.

Ø Certified Portfolio Manager by CVM/AMBIMA (“CGA” Manager).

Ø G5 Evercore (M&A advisor):

Ø Graduated in Business Administration from FGV/SP,

Ø Integration Consulting (international strategy & mgtm consulting):

Ø Graduated in Psychology from the Federal University of Minas Gerais (UFMG).

Ø MBA from the University of São Paulo (USP).