Eztec - EZTEC

Our history

The engineering, construction and real estate development activities under the EZTEC brand began on February 15, 1979, when the Company’s founding shareholders, Mr. Ernesto Zarzur, Mr. Flávio Ernesto Zarzur and Mr. Silvio Ernesto Zarzur founded EZTEC Engenharia, taking advantage of Mr. Ernesto Zarzur experience in the segment until that moment.

Since then, EZTEC’s activities have been carried out through operating companies owned and managed by the Company’s founding shareholders, who remain to this day in the management of its business, and by holdings of its operating group.

In July 2006, the Company began its corporate reorganization process, which consists of the creation of EZ TEC Empreendimentos e Participações SA (“EZTEC” or “Company”) and the transfer to it of assets linked to the real estate business, on October 31, 2006. The main objective of this corporate reorganization was to create a corporate structure that would allow it to list its common shares on the Novo Mercado segment of the BM&F BOVESPA and to promote its engineering, construction and real estate development activities. On June 27, 2007, EZTEC started trading under the ticker EZTC3.

The year of 2019 was a significant year for the Company as well as for the entire sector. Approximately R$1.9 billion in PSV were launched for a guidance between R$1.5 billion and R$2 billion, representing the company’s confidence in the economic moment the country was experiencing.

Additionally, a follow-on was carried out in order to raise funds to enable the acquisition of lands to compose the Company’s landbank in the face of a heated market. The offer injected R$941 million into the Company in the second half of 2019. This context was based on the narrative of gradual recovery of the economy and the sector, specifically in the city of São Paulo.

In 2020, the launch guidance was discontinued due to the uncertainties present due to the COVID-19 pandemic. The pace of sales was impacted by the isolation measures and the economic scenario, with an expectation of a gradual increase in sales with the resumption of activities.

The land bank with approximately BRL 13 billion in projects and a net cash position of more than R$ 1 billion (partially composed of the recent follow-on) lead the Company to be confident in its positioning to start this new moment in a organized.

See more in eztec referral forms – section 6.3

Our founder

Ernesto Zarzur started his professional life as a real estate broker. And he ended up as one of the most successful businessmen in the country’s history. Founder, controller and chairman of the Board of Directors of EZTEC, a real estate developer focused on high-end residential and commercial properties in Greater São Paulo, Ernesto Zarzur had a reserved profile. But he was extremely warm to everyone.

Upon arriving at the Company’s headquarters every day to work, “Seu” Ernesto, as he was affectionately called, walked around the rooms greeting employees with a kiss on the cheek. He told everyone that one of his biggest goals was to create a legacy for the city he loved so much, São Paulo, constructing buildings that could turn into postcards.

Born on February 28, 1934, he was the son of Lebanese immigrants. In the few interviews he gave, laughing he told “I had everything to go wrong in life”. After a health problem, he dropped out of school and learned to read and write at home with his mother.

At the beginning of his adult life and already married to “Dona” Esther, with whom he lived until his death, he started working as a real estate brooker for his brother Waldomiro at Construtora Zarzur & Kogan. But soon he began to undertake. In 1967, he founded Vilamar Veículos SA, a General Motors car dealer of Brazil.

The enterprise was successful, but the business man really liked to build and sell his properties. The first building incorporated and built by him was named Marcelo, in honor of one of his sons, on Rua Teodoro Sampaio, in Pinheiros. In 1979, he founded EZTEC, today one of the most respected real estate developers in the country, which, since 2007, has its shares traded on the Novo Mercado of B3.

One of the mantras of “Seu” Ernesto, starting from the company’s IPO, was: “Minorities shareholhers first, minority shareholders second, minority shareholders third”. Until recently, the real estate developer held an annual face-to-face meeting with shareholders. Dozens of minority shareholders from various regions of the country attended and made a point of greeting him.

The businessman had great business gift and passed through all the economic crises, including worldwide ones, knowing what had to be done to preserve the company’s financial health and the interests of those who trusted him.

Ernesto Zarzur loved to work. In addition to daily visit the company’s headquarters, he used to visit the construction works. But he never referred to himself as a businessman. “What I really am is a estate brooker, and with great pride. I love selling,” he would say, beating his chest in pride. He visited the selling stands on Saturdays and Sundays, encouraging the brokers to close good deals.

“Seu” Ernesto had some famous catchphrases. One of them was: “I only build where my eyes can see or where I can get on foot”. It was true. This vision allowed the developer to inspect the works step by step, guaranteeing the quality and profitability of EZTEC’s projects.

Although he never studied neither engineering nor architecture, he demanded the utmost in good taste and technology from the professionals participating in the projects. And he managed to fulfill his dream of leaving postcards for the city, always motivated by the idea that “It’s not about just building square meters, it’s about transforming São Paulo into a city of beauty”.

His greatest pride is the EZ Towers, on Avenida Chucri Zaidan, in the south zone of São Paulo. The project represents an important milestone for its design, technical and sustainability standards, with two towers and a total of 160,000 square meters of built area. The new architectural milestone he idealized for São Paulo is Esthers Towers, at Chácara Santo Antônio, which will be completed in 2024 and was named in honor of his wife. These projects, as well as many others, attest to the visionary look of “Seu” Ernesto, a man whose constructions were always ahead of his time.

The entrepreneur Ernesto Zarzur passed away in São Paulo at the age of 87, of natural causes, under the care of his beloved wife, Esther, with whom he was married for 65 years.

He leaves his sons and daughter Flavio, Silvio, Silvana, Marcelo, Marcos and Anna Lúcia, 17 grandchildren and 8 great-grandchildren. To the family, we express our deepest feelings of condolence and dedicate our gratitude for all the legacy that Ernesto Zarzur left us.

Leadership

Board of Directors

EZTEC´s board of directors is dedicated to providing the Company´s overall strategic guidelines and, among other things, is responsible for establishing the Company´s general business policies and for electing its executive officers and supervising their management, and is also responsible for the appointment and dismissal EZTEC´s independent auditors.

The directors will have a unified term of two years, and may be re-elected and removed at any time. The directors must also sign, prior to their investiture in the position, the consent form of the managers, provided for in the Novo Mercado Regulation.

Meetings of the board of directors are usually held once a month, and on an extraordinary basis whenever called by the chairman or vice-chairman. All decisions of the board of directors are taken by majority vote of the members attending the meeting, and the chairman has the casting vote in case of a tie in any voting.

Member	Office	Mandate

Mr. Flavio has been an effective member of our board of directors since August 14, 2020. Mr. Flavio Zarzur was also one of the founding shareholders of EZ TEC Engenharia and has been an executive officer of EZ TEC Engenharia for the last 28 years. Mr. Flavio Zarzur was born on August 2, 1957 and holds a degree in Civil Engineering from Fundação Armando Álvares Penteado – FAAP.

Mr. Samir has been vice-chairman of the Board of Directors since March 3, 2007. Mr. Samir has a degree in Accounting and Commerce in Beirut, Lebanon, and his professional experience is based on 13 years in the textile trade as an owner director and 38 years with real estate development, being a managing partner of EZTEC between 1979 and 2007. In the last 5 years, with the exception of exercising the position of member of the Company’s Board of Directors, Mr. Samir did not perform any activities in the Company or in its affiliates and subsidiaries.

Since 05/12/2020, he has held the positions of Vice-President Director, Incorporation Director and New Business Director. Mr. Silvio is also the founding partner of Companhia and held the position of Director of Ez Tec Técnica Engenharia e Construção Ltda. for 28 years. Mr. Silvio was born on June 7, 1959 and holds a degree in Civil Engineering from Universidade Presbiteriana Mackenzie. He was elected Effective Member of the Board of Directors on April 26, 2013.

Mr. Marcos has been the Company’s Commercial Director since March 3, 2007, Chief Executive Officer between May 7, 2015 and May 4, 2017 and Effective Member of the Board of Directors since April 26, 2019 with a mandate of two years. Mr. Marcos was born on May 7, 1965 and began his professional activities at EZ in 1986 in the Commercial area until reaching the position of Director.

Mr. Nelson has been an independent member of our board of directors since May 16, 2007. Mr. Nelson was born on November 24, 1942. He holds a degree in Mechatronic Engineering from the Escola Politécnica da Universidade de São Paulo. His experience includes working as president of Brasil Ferrovias for approximately four years, as well as president of Gevisa. He was vice president for strategy and finance of Grupo Villares until 1995. Between 2004 and the middle of 2006, he was chairman of the Executive Committee of Parmalat Brasil, S.A. Previously he was chief executive of Rezende Alimentos, a member of the board of directors of Gradiente, Livraria Siciliano, Alcoa Brasil, Telemig Telenorte Celular and Varig. Currently Mr. Nelson is a member of the board of directors of Santal and Agrenco. Also, Mr. Bastos is member of the Brazilian Institute of Corporate Governance (Instituto Brasileiro de Governança Corporativa), or IBGC.

Graduate in Business Administration at Fundação Armando Alvares Penteado in 1983, Anis served as CEO of Banco ABC Brazil from 2010 until 2020, leaving the role in 2021 to join the Bank’s Board of Directors as Vice-Chairman. His career has developed in financial institutions since 1983, having accumulated over 30 years of experience. He joined Banco ABC Brasil in 1991 as a member of ABC Brasil executive committee. Throughout the years was responsible for various business units, such as Corporate, Financial Institutions, Debt Capital Markets, Credit Analysis and Risk. He has a role in the local bank market, being President of ABBI, Brazilian International Bank Association, Executive Director of Febraban and Board Member of Febraban, the Brazilian Federation of Banks.

She holds a Master’s degree in Business Administration from the Federal University of Minas Gerais. She has worked professionally for over 25 years, the last 15 years as the main business executive in the areas of Education and Strategic Consulting for People and Business Development, with responsibility for expansion projects, turnaround, leadership in Change Management processes. She was a Senior Partner at BTA – Betania Tanure Associados and was responsible for major organizational development and transformation projects with a focus on increasing performance and commercial actions.

She is Director of People and Culture at Grupo Aterpa, focusing on retaining and developing strategic talent and teams, managing people and HR subsystems, strengthening and managing Organizational Culture and ESG. She is a member of the Compliance Committee of the Aterpa Group and Consolare.

Executive Officers

EZTEC’s Executive Officers are its legal representatives, mainly responsible for the day-to-day management of the Company and for the implementation of the general policies and guidelines established by the Board of Directors. Up to one third of the members of EZTEC’s Board of Directors may be elected to the position of Officers.

The Company’s Bylaws provide that the Board of Executive Officers will be composed of at least five and at most ten directors. The Officers are elected by the Board of Directors for a term of office of two years, and may be re-elected and removed at any time.