POSI3

Positivo Tecnologia S.A., traded on B3 under the ticker POSI3, is a Brazilian technology company founded in 1989 in Curitiba, Paraná. The company’s origins are linked to the supply of computers to schools of Grupo Positivo throughout Brazil, with an initial focus on the education segment. In the early 1990s, the company expanded its operations to supply computers and IT solutions to companies and public sector institutions, participating in public tenders. Throughout the 1990s, it consolidated a broader position in educational technology, developing software for schools and retail and launching portals aimed at private and public education networks, such as Portal Educacional and Portal Aprende Brasil.

From the 2000s onward, Positivo significantly expanded its presence in the hardware market, entering the retail computer segment for the main national chains in 2004 and, in 2005, the corporate segment with desktops and notebooks. In 2006, the company carried out its initial public offering, with its shares listed on B3’s Novo Mercado segment, which is associated with more stringent corporate governance practices. Subsequently, it increased its computer production volume, surpassing successive manufacturing milestones, and invested in production capacity with the inauguration in 2008 of an industrial unit in Manaus dedicated to the production of notebooks, tablets, smartphones and electronic payment terminals (POS). Its growth trajectory includes acquisitions such as the Kennex brand and internationalization moves through joint ventures in Argentina and operations in markets such as Uruguay and African countries.

Positivo Tecnologia’s business model is centered on the development, manufacturing and commercialization of hardware devices combined with technology services and solutions. The company produces computers, notebooks, tablets, smartphones, servers, payment machines, internet of things (IoT) devices for smart homes and organizations, electronic security solutions and electronic voting machines, among other equipment. The company segments its operations into two major markets: the Consumer segment, focused on technology devices for individuals, and the Commercial segment, which encompasses devices, technological infrastructure and services for private organizations, financial institutions, government agencies and educational institutions. Net revenue is diversified among retail, public institutions and the corporate market, with significant relevance of sales to the public sector and to corporate clients.

In the consumer segment, Positivo serves different profiles of retailers and sales channels, including large national chains, regional chains, small resellers and its own and third-party online channels, such as marketplaces. The portfolio aimed at the end consumer includes notebook lines under the Positivo and VAIO brands, Positivo tablets and VAIO TL10, as well as mid-range smartphones under the Infinix brand, in partnership with Transsion Holdings. The company has also developed the Positivo Casa Inteligente platform, with an ecosystem of IoT devices aimed at home automation, comfort, security and connectivity. This line includes products such as connected light bulbs and LED strips, smart plugs and switches, universal remotes, cameras, locks, alarms, sensors, routers and connected small appliances, all integrated into a proprietary app developed in Brazil, which already has a significant user base.

In the corporate and institutional market, Positivo operates with a broader portfolio of information technology solutions, combining hardware, services and solution integration. The company offers corporate devices, servers, storages, mini PCs, thin clients, desktops, payment terminals and electronic security equipment, as well as managed IT services through units such as Positivo Servers & Solutions, Positivo S+, Positivo Tech Services and Positivo Soluções de Pagamento. Its entry into the server and infrastructure segment was consolidated with the acquisition of a majority stake in ACC Brasil (Accept), later integrated under the Positivo Servers & Solutions brand. In special projects, the company highlights its supply of electronic voting machines to the federal government and participation in supercomputing initiatives, such as the delivery of high-performance super servers in partnership with international suppliers.

Work with public institutions plays an important role in revenue generation, through the supply of computers, tablets, mobile phones, servers and electronic voting machines to government agencies, in addition to digital educational solutions. Throughout its history, Positivo has developed platforms and content focused on educational technology and, more recently, structured Educacional – Ecossistema de Tecnologia e Inovação, which connects solutions, educational institutions, publishers, companies, students, families and third-sector organizations. Internationally, the company has taken part in projects to supply educational equipment to foreign governments, in partnership with local groups, and maintains operations and service centers in Latin American countries.

From an industrial standpoint, Positivo maintains a production arrangement distributed among plants in Manaus (AM), Ilhéus (BA) and Curitiba (PR), as well as units dedicated to servers and components, with assembly lines, testing, software integration and repair centers. This production footprint is designed to balance logistical efficiency, tax requirements and the ability to meet specific demands from large contracts and retail. The production process follows standardized stages of receipt and storage of raw materials, assembly, stress testing (run-in), operating system loading, packaging, sample auditing and storage of the final product. The company operates one of the largest technical assistance networks in the country, with advanced inventories and nationwide coverage, in addition to managed service operations centers in several Brazilian cities and in countries such as Argentina, Colombia and Mexico.

Positivo’s supply chain is highly integrated into the global ecosystem of electronic components, notably processors, motherboards, memory, cases, screens, monitors, operating systems and software. Most inputs are purchased from Asian suppliers, complemented by domestic suppliers, with strong sensitivity to the US dollar exchange rate and global supply. To mitigate concentration risks, the company seeks to work with multiple suppliers for each type of component and maintains procurement, engineering and quality structures in Taiwan and China. In addition to strategic partnerships with global component and software manufacturers, the company also invests in vertically integrating parts of production, such as motherboards, batteries and memory modules, with the goal of increasing competitiveness and quality control.

From a regulatory and incentive standpoint, Positivo Tecnologia operates in an environment regulated by multiple levels of government. Industrial activities in Manaus and Ilhéus benefit from federal, regional and state incentives, interacting with agencies such as SUDAM, SUDENE, SUFRAMA, state finance and development departments, as well as environmental agencies such as IPAAM and municipal departments. The production of IT goods in the Manaus Free Trade Zone requires proof of minimum investments in research, development and innovation, as well as compliance with the Basic Production Process (Processo Produtivo Básico). For the commercialization of mobile phones and other telecommunications devices, the company depends on approval by ANATEL, after testing in accredited laboratories. Environmental operating licenses and legal requirements for tax incentives impose obligations in areas such as the environment, social programs for employees, regional technological development, inclusion of people with disabilities, quality management and occupational safety. In governance, listing on B3’s Novo Mercado implies adopting practices such as a capital structure composed only of common shares and greater transparency in its relationship with shareholders.

In environmental, social and governance (ESG) matters, Positivo’s activities are linked both to regulatory requirements associated with its tax incentives and licenses and to the nature of its business, which is strongly related to the digital inclusion and transformation of families, schools, companies and government agencies. The company reports initiatives related to managing the environmental impact of the IT chain, product circularity, quality and safety programs in its plants and compliance with legislation, including the General Data Protection Law (LGPD) in the scope of its support services. The relevance of contracts with the public sector and strategic partnerships with large global suppliers also requires governance, compliance and risk management processes aligned with international standards, reflecting the profile of a publicly traded company with POSI3 shares traded on the exchange and presence in liquidity indices such as the IBrX-100.