Commercial Notes

On October 9, 2025, Afya Limited announced a R$1,500 million commercial note issuance by its subsidiary, Afya Brazil, via private placement with Opea Securitizadora S.A. The notes, divided into two series maturing in 2028 and 2030, are secured by subsidiary guarantees and offer interest rates pegged to the Brazilian interbank deposit rate plus a spread. Afya intends to use the proceeds to potentially redeem existing debentures, repurchase convertible preferred shares, and for general liability management, aiming to optimize its debt profile and fund strategic initiatives.