Vasta Announces Share Repurchase Program

Vasta Platform Limited, or Vasta (Nasdaq: VSTA), today announced that its Board of Directors has approved a share repurchase program, or the Repurchase Program. Under the Repurchase Program, Vasta may repurchase up to US$12.5 million in Class A common shares in the open market, based on prevailing market prices, or in privately negotiated transactions, over a period beginning on September 18, 2023, continuing until the earlier of the completion of the repurchase or September 30, 2024, depending upon market conditions. Vasta’s Board of Directors will review the Repurchase Program periodically and may authorize adjustments to its terms and size or suspend or discontinue the Repurchase Program. Vasta expects to utilize its existing funds to fund repurchases made under the Repurchase Program.

The Board of Directors of Vasta also authorized management to appoint Morgan Stanley & Co. LLC, as its agent under the Repurchase Program to purchase Securities on its behalf in the open market. It is Vasta’s intention such purchases benefit from the safe harbor provided by Rule 10b-18 (“Rule 10b-18”) and Rule 10b5-1 (“Rule 10b5-1”), each promulgated by the Securities and Exchange Commission (the “SEC”) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Accordingly, Vasta shall not take, nor permit any person or entity under its control to take, any action that could jeopardize the availability of Rule 10b-18 for purchases of Securities under the Repurchase Program.

The actual timing, number and value of shares repurchased under the Repurchase Program will depend on several factors, including constraints specified in the Rule 10b-18 and Rule 10b5-1, as applicable, price, general business and market conditions, and alternative investment opportunities. The Repurchase Program does not obligate Vasta to acquire any specific number of shares in any period, and may be expanded, extended, modified, or discontinued at any time.

About Vasta Platform Limited (Nasdaq: VSTA)

Vasta is a leading, high-growth education company in Brazil powered by technology, providing end-to-end educational and digital solutions that cater to all needs of private schools operating in the K-12 educational segment, ultimately benefiting all of Vasta’s stakeholders, including students, parents, educators, administrators and private school owners. Vasta’s mission is to help private K-12 schools to be better and more profitable, supporting their digital transformation. Vasta believes it is uniquely positioned to help schools in Brazil undergo the process of digital transformation and bring their education skill-set to the 21st century. Vasta promotes the unified use of technology in K-12 education with enhanced data and actionable insight for educators, increased collaboration among support staff and improvements in production, efficiency and quality. For more information, please visit ir.vastaplatform.com.