Document:

EX-10.4

 Exhibit 10.4 

INDEMNITY AGREEMENT 
 This Indemnity
Agreement (“Agreement”) is executed between the parties identified below 
 I. SOMOS SISTEMAS DE ENSINO S.A., a joint-stock company
with its principal place of business in the city of São José dos Campos, State of São Paulo, at Rodovia Presidente Dutra, km 136, block 03, module 01, Eugenio de Melo, Postal Code
12247-004, enrolled with the National Corporate Taxpayers Register of the Ministry of Economy (CNPJ/ME) under No. 49.323.314/0001-14 (“Company”);
and 
 II. KROTON EDUCACIONAL S/A., a publicly-held corporation with its principal place of business in the city of Belo Horizonte, State of
Minas Gerais, at Rua Santa Madalena Sofia, 25, Postal Code 30380- 650, enrolled with the National Corporate Taxpayers Register of the Ministry of Finance (CNPJ/MF) under No. 02.800.026/0001-40, herein
represented in accordance with its By-Laws (“Kroton”). 
 The Company and Cogna (sic) are hereinafter
referred to as “Parties” or “Party”, 
 WHEREAS: 

(I) Cogna is a publicly-held company with its principal place of business in Brazil and the controlling shareholder of the Company; 

(II) The Parties are performing acts to implement a corporate restructuring according to which the activities of Cogna group involving the production and sale
of basic education, elementary and high school education systems, operation of preparatory courses for college entrance exams and publishing activities shall be transferred to the Company, either directly or by means of its direct or indirect
subsidiaries. 
 NOW, THEREFORE, the Parties resolve to execute this Agreement, which shall be governed by the following clauses and
conditions: 
 Chapter I Definitions and Interpretation 

1.1 Definitions. For purposes of this Agreement: 

“Contingency Communication” has the meaning attributed to it in Section 2.3; 

“Contingencies” means, jointly, (i) the lawsuits or administrative proceedings existing on the date hereof involving the Company or its
direct or indirect subsidiaries, or (ii) the lawsuits or administrative proceedings that may be brought as from the date hereof involving the Company or its direct or indirect subsidiaries, provided the triggering event thereof are acts or
events occurred until (and including) December 31, 2019. 
 “Agreement” has the meaning attributed to it in the Preamble; 

“Deposit Agreement” means the Deposit Agreement executed on October 1st, 2018, and
subsequently amended on June 17, 2019, between Saber Serviços Educacionais SA, Banco Santander (Brasil) S.A. and Somos Educação S.A., among others; 

“Kroton” has the meaning attributed to it in the Preamble; 

“Law” means any law, regulation, order, warrant, provisional remedy or decision not subject to appeal, normative instruction, instruction
opinion, circular, ordinance, decree or any administrative, judicial or arbitral act issued by any government authority; 
 “Party” has the
meaning attributed to it in the Preamble; 
 “Indemnifiable Party” means a Person entitled to receive indemnity for Losses pursuant to the
provisions of this Agreement; 
 “Losses” means any and all loss, direct damage, cost, fine, penalty, expense, deposits in court, blocking

 
of assets, loss (including interest, fine, adjustment for inflation, reasonable attorneys’ fees and court costs), provided they are materialized in actual disbursement and excluding, in any
case, consequential damages, loss of profits, pecuniary damages or moral damages; 
 “Person” means any individual, legal entity,
condominium, consortium, probate estate, government authority, court or other entity governed by public or private law, whether Brazilian or foreign, with legal personality or not, which is a subject of rights; 

“Deposit Agreement Funds” means the funds corresponding to a certain withheld installment within the scope of the purchase and sale of Somos
Educação S.A. by Saber Serviços Educacionais S.A. and of the redemption of shares approved in the special shareholders’ meeting of Somos Educação S.A.; and 

“Company” has the meaning attributed to it in the Preamble. 

Chapter II Indemnity 
 2.1. Indemnity
for Business Contingencies. Cogna hereby agrees to indemnify and hold the Company and its direct or indirect subsidiaries harmless with respect to any and all Losses they may suffer in relation to Contingencies, up to the maximum global limit of
one hundred and forty-nine million and six hundred thousand Reais (R$149,600,000.00), the balance of which shall be annually adjusted as from January 1st of each year, considering the
variation of the Interbank Certificate of Deposit (CDI) in the period. 
 2.2. Reduction in the Indemnity Amount. The following shall be
deducted from the amount of any indemnity: (i) any insurance indemnity actually paid to the Indemnifiable Party in relation to the respective Losses (less the amount of any discounts or other Loss the Indemnifiable Party may suffer with
the use of the respective insurance policy); and (ii) any indemnity, contribution or other payment actually made or directly transferred to the Indemnifiable Party by any third party required to indemnify the respective losses and
damages (it being understood that the obligation to indemnify may not be conditional upon implementation of said indemnity, contribution or other payment), including, but not limited to, any (sic) originating from release of the Deposit Agreement
Funds. 
 2.3. Indemnity Procedure. In case new Contingencies arise as from the date hereof the Losses of which are indemnifiable pursuant to the
provisions of this Agreement, the Indemnifiable Party shall previously communicate Kroton about it (“Contingency Communication”), sending copies of the documentation and other available information about such Contingency. The
Contingencies already in progress on the date hereof do not need to be the subject of any Contingency Communication. The Indemnifiable Party shall conduct the Contingency and its defense, except as otherwise indicated by Kroton. 

2.3.1. The indemnifiable Losses pursuant to the provisions of this Agreement shall be paid by Kroton, either directly or by a subsidiary, to each
Indemnifiable Party, (i) once a year, always by December 31 of each year in relation to the Losses due to that date, or (ii) in advance, in case the total amount of the Losses incurred reaches the amount of ten million Reais
(R$10,000,000.00). 
 Chapter III Effectiveness 

3.1. Term of Effectiveness. This Agreement shall become effective on January 1st, 2020, and it
shall remain effective for the duration of the obligations to indemnify set forth therein. 
 3.2. This Agreement shall be automatically terminated,
without any additional payment of Indemnity being due by Kroton, in the event of transfer of the controlling interest of the Company and, in relation to each subsidiary of the Company, in the event of transfer of the controlling interest of such
subsidiary, including in relation to Contingencies already in progress on that date and even if the liability for the indemnity of Losses of these Contingencies has been expressly or tacitly acknowledged or accepted by Kroton, it being understood,
however, that the Losses actually Indemnified by Kroton shall remain valid. 
 Chapter IV General Provisions 

4.1. Addresses for Notification. Any warning, notice, request or communication relating to this Agreement shall be sent to the
Parties by letter (mail or courier) or e-mail, with proof of receipt, at the addresses informed in the preamble of this Agreement. The notices and/or communications shall be deemed received (i) upon proof
of receipt, if sent by letter (mail or courier); or (ii) if by e-mail, on the date informed in the confirmation of receipt issued by the receiving e-mail. 

 4.2. Amendments. This Agreement may only be amended by means of a
written instrument signed by the Parties. 
 4.3. Irrevocability and Irreversibility. This Agreement is irrevocably and
irreversibly executed. 
 4.4. Assignment. The Parties may neither assign nor transfer, wholly or in part, the rights and obligations originating
from this Agreement to any third party, except upon express and written authorization of the other Parties. 
 4.5. Successors. This Agreement
is binding upon the Parties, their heirs, successors and authorized assignees, on any account, which shall exercise the rights and obligations set forth herein always jointly, so as to comply with everything that has been established by the
Party substituted by them. 
 4.6. Waivers. The omission of any of the Parties, at any time, in relation to noncompliance with the
terms, provisions or conditions of this Indemnity Agreement or the failure to exercise any right set forth herein shall neither be a waiver of said right nor affect such Party’s right to enforce these rights in the future. In case any of
the provisions set forth in this Agreement is deemed invalid, illegal or unenforceable, (i) the validity, legality or enforceability of the other provisions of this Agreement shall not be affected thereby and (ii) the Parties shall
negotiate, in good faith, the substitution of the invalid, illegal or unenforceable provisions for valid, legal and enforceable provisions the effect of which is as near as possible to the effect of the provisions deemed invalid, illegal or
unenforceable. 
 4.7. Governing Law and Jurisdiction – This Agreement shall be governed and construed in accordance with
the laws of the Federative Republic of Brazil. Any dispute, conflict or litigation resulting from, or relating to this Agreement shall be submitted to the Courts of the Capital City of the State of São Paulo, with the exclusion of any
other, no matter how privileged it may be. 
 IN WITNESS WHEREOF, the Parties execute this Agreement in three (3) counterparts of same contents, in the
presence of the two (2) witnesses indicated below. 
  

			
	São Paulo, December 5, 2019
	
	SOMOS SISTEMAS DE ENSINO S.A.
	(sgd)	  	(sgd)
	Name: Mario Ghio	  	Name: Clovis Poggetti Jr
	Title: Chief Executive Officer	  	Title: Financial Vice-President
	
	KROTON EDUCACIONAL S/A
	(sgd)	  	(sgd)
	Name: Roberto Afonso Valério Neto	  	Name: Leonardo Augusto Leão Lara
	Chief Executive Officer	  	Legal Counsel
	Identity Card (RG) [****] – Taxpayer Card (CPF) [****]	  	(illegible) – Taxpayer Card (CPF) [****]
		
	WITNESSES:	  	
	1. (sgd)	  	2. (sgd)
	Name: Amanda Alonso (illegible)	  	Name: Jeniffer A.M. Prado
	Identity Card (RG): RG: [****]	  	Identity Card (RG): [****]
	Taxpayer Card (CPF): [****]	  	

 Pages initialed.EX-10.5

 Exhibit 10.5 

COSTS SHARING AGREEMENT 
 By this private
instrument, the parties qualified below:  
 Cogna Educação S.A., a company headquartered in the City of Belo Horizonte, State
of Minas Gerais, at Rua Santa Madalena Sofia, No. 25, 4th floor, Suite 01, Vila Paris District, Postal Code 30380-650, enrolled with CNPJ/MF under
No. 02.800.026/0001-40, with its articles of incorporation filed with the State of Minas Gerais Commercial Registry, under State Registration Number NIRE 31300025187, represented herein pursuant to its
bylaws (“Cogna”);  
 Editora e Distribuidora Educacional S.A., a company headquartered in the City of Belo Horizonte, State of
Minas Gerais, at Rua Santa Madalena Sofia, No. 25, 3rd floor, Vila Paris District, Postal Code 30380-650, enrolled with the CNPJ/MF under
No. 33.733.648/0001-40, with its articles of association filed with the State of Minas Gerais Commercial Registry, under State Registration Number NIRE 31300094022, represented herein pursuant to its
bylaws (“EDE”); 
 And,  
 THE OTHER
COMPANIES LISTED IN EXHIBIT I to this agreement, herein represented by Cesar Augusto Silva and Mario Ghio Junior (“Other Companies”); 

Cogna, EDE and Other Companies, hereinafter referred to jointly as “Parties” and, individually, as “Party”. 

WHEREAS: 
 (i) the Parties are part of the same economic
group, hereinafter referred to as “Economic Group”; 
 (ii) the Economic Group, in general, has as its purpose the development of or participation
as a partner or shareholder in companies that explore (i) the administration of activities of early childhood education, elementary, secondary, high-school substitution program, pre-university, college,
professional, graduate studies, free courses and/or other related educational activities; and (ii) wholesale and retail trade, distribution, import, export of textbooks, educational books, magazines and other publications aimed at early
childhood education, elementary, secondary, high-school substitution program, pre-university, higher, professional, graduate studies, free courses and/or other related educational activities, as well as
licensing for school and pedagogical products; 
 (iii) the Economic Group intends to optimize its activities by sharing structures related to
(i) Investor Relations, (ii) Legal, (iii) Product, Management and Expansion, (iv) Digital Technology and Transformation, (v) Finances, and (vi) Human Resources (“HR”), the Shared Services Center (“CSC”)
and Infrastructure, provided that such list is not exhaustive, which conduct business that are deemed secondary activities not included in the business purpose of any of the Parties (“Secondary Activities”), to meet common needs; 

(iv) the Secondary Activities subject to sharing shall be used by the Parties, according to their operational needs; 

(v) Cogna, or other Parties to be designated, shall manage the conduction of the Secondary Activities and, therefore, shall bear all the common costs and
expenses arising from such activities (“Expenses”); and 
 (vi) the Expenses arising from the Secondary Activities shall be apportioned
between the Parties, under the expense sharing regime so that part of the Expenses borne by a certain Party shall be reimbursed by the other Parties. 

NOW THEREFORE, the Parties hereby enter into this Expenses Sharing Agreement (“Agreement”), which shall be governed by the terms and
conditions set out below. 

 1. PURPOSE 

1.1. The purpose of this Agreement is the sharing of the Secondary Activities between the Parties and the apportionment of the corresponding expenses, as
provided for in detail in Section 2 below. 
 1.2. The expenses to be apportioned under this Agreement are the Expenses related to the following
activities: i) Investor Relations: Representation of the company and its controlled companies before investors and the financial market, including supply of information, performance of events and support to investors, ii) Legal: Representation,
monitoring and settlement in/of lawsuit, interface with external offices, issuance of reports, preventive advice in litigation, monitoring of supplies, writing, analysis and management of contracts of any nature; internal controls, and corporate
compliance, internal corporate governance of governance boards and committees before market and sector regulatory agents, iii) Product, Management and Expansion: Planning, control and performance of projects of the business units (“BU” or
“BUs”), including mergers and acquisitions, iv) Digital Technology and Transformation: Management and maintenance of Infrastructure and networks, development and maintenance of corporate systems and technology business architecture, v)
Finances: Management and operation of supply chain, control of income, costs, expenses and assets, tax and fiscal planning, financial statements, corporate budget and treasury, vi) Human Resources, CSC and Infrastructure: Union and labor relations,
recruitment and selection, internal corporate consultancy, training and development, internal communication and HR performance. Management of back office services (CSC), such as financial operations, management of personnel,
Occupational Safety and Health Engineering (“SESMT”), and continuous improvement. Maintenance and management of the real properties of the company and its controlled companies. 

1.2.1. The list of Expenses above is not exhaustive, and this Agreement includes the apportionment of any and all corporate or administrative expenses that
are not subject to be directly allocated to one single Party. 
 1.3. The Parties shall reimburse the Party that bore the cost of a certain Expense for any
and all Expenses incurred by it, in relation to the Secondary Activities actually used by the Parties, according to the criteria described in Section 2.1 below. 

2. APPORTIONMENT POLICY 
 2.1. For purposes of determining
the amount of Expenses to be subject of the apportionment and reimbursement, the Parties shall adopt the criteria of realized Net Operating Revenue (“ROL”), where the percentage of each of the parties shall be defined based on the
representativeness of the ROL of the respective Party in respect of the ROL of all the Parties, so that the percentage of the transfer shall be defined in the preceding year and applied to the year in which the apportionment is in effect. 

2.1.1. The criteria above may be subject to annual adjustments and reviews. 

2.2. The Parties agree that the calculation of Expenses to be reimbursed based on the above criteria shall be done by EDE, and the former reserves the right
to revise such calculations. 
 2.2.1. EDE undertakes to prepare monthly spreadsheets of shared activities, identifying which Expenses shall be reimbursed
by the Parties to the Party that actually bore such Expenses issued for the account and order of the Corresponding Party, through a debit note, under the terms of this Agreement. 

2.2.2. The Expenses to be apportioned and reimbursed shall be evidenced in a Statement of Income of the Year (“DRE”) to be prepared by EDE on behalf
of the Corresponding Party. 

 2.3. Each of the Parties shall keep, for the period required by law, all documentation used in the writing
of the books, including, without limitation, tax invoices, invoices/trade bills, tax and contribution payment forms, bank slips, proof of deposit and contracts in general, in perfect order and in specific files, for any consultation, by the other
Party, which may be requested at any time. 
 3. FORM, PAYMENT TERMS AND CONDITIONS 

3.1. The reimbursement of Expenses related to a given calendar month shall be presented by EDE, on behalf of the Corresponding Party, by the tenth business day
of the month following the knowledge of Expenses and shall be reimbursed up to thirty (30) days after the issue of the sharing charge. 
 3.2. In the
event of late payment described in Section 3.1. above, the amount shall be levied on the overdue amount, in addition to the pro rata die inflation restatement, calculated by the accumulated percentage variation of the Broad National
Consumer Price Index (“IPCA”) or, in the absence or impossibility of its application, based on the variation of the IGP-DI or IPC of FGV, or another that may replace them, a non-compensatory fine of two percent (2%) on the amounts due, and default interest at the rate of one percent (1.0%) per month. 

4. ACCOUNTING 
 4.1. Each Party shall recognize as an
expense in its accounting only the amount actually borne after the apportionment of Expenses provided for in this Agreement. 
 5. TERM AND TERMINATION

 5.1. This Agreement shall remain in force for the period of one year counted from its signature, being automatically renewed for the same period,
except in the case of questioning by either Party. 
 5.2. This Agreement shall be considered immediately terminated, without the need for prior
communication between the Parties, in the event of a change in the shareholding control of any of the Parties that implies the withdrawal of one of them from the Economic Group. 

5.3. At any time, either Party may unilaterally terminate this Agreement, by giving written notice to the other Party at least ninety (90) days in
advance. 
 6. CONFIDENTIALITY 
 6.1. The term
“Confidential Information”, for the purposes of this Agreement, shall include all disclosures made by either Party to the other and to their respective affiliates, officers, directors, employees and agents, either verbally or in writing,
even if any such disclosure is identified as such or is signed as “Confidential”, “All Rights Reserved”, or similar connotation designation. Each Party agrees that any Confidential Information that has been, or shall be disclosed
(directly or indirectly) to them shall be kept confidential by the receiving Party and its respective officers, directors, employees and agents, and shall not be disclosed by any receiving Party, its respective officers, directors, employees and
agents to any third parties, without the prior express consent of the disclosing Party. The Information shall not be considered “Confidential Information” when: 

a) is or becomes of general knowledge other than as a result of disclosure by the Parties; 

b) has been made available to the Parties without confidentiality prior to its disclosure under the terms of this Agreement; 

c) is or becomes available to the Parties without confidentiality from a person other than the Parties who, to the best of their knowledge, is not otherwise
bound by confidentiality obligations to the Parties; or 
 d) is developed by the Parties independently. 

 6.2. If the Parties or any of their respective officers, directors, employees and agents are required to
disclose any Confidential Information under the terms of any applicable law, they must, in advance, inform such Party to the holder of the Confidential Information. 

7. MISCELLANEOUS PROVISIONS 
 7.1. All communications and
notices arising from this Agreement shall be made in writing and shall be delivered in person, sent by registered letter, to the address specified in the qualification of the Parties, or any other address that the parties specify by written notice.

 7.2. Any and all modifications, alterations or amendments to this Agreement shall only be valid if made by written instrument, signed by the Parties.

 7.3. This Agreement binds the Parties and their respective authorized successors. Neither Party may assign this Agreement, in whole or in part, without
the prior written consent of the other Party. 
 7.4. If any of the Parties fails to exercise any of their rights, such failure cannot be considered a
waiver or novation and shall not affect the subsequent exercise of such rights. 
 8. JURISDICTION 

8.1. The Parties elect the jurisdiction of the Judicial District of São Paulo, State of São Paulo, to settle any doubts and/or questions arising
from this Agreement, waiving any other, however privileged it may be. 
 And, in witness whereof, the Parties execute this instrument in two
(2) counterparts of the same content and form, for one purpose, together with the two (2) undersigned witnesses. 

January 21, 2020. 
 Cogna
Educação S.A. 
  

			
	(sgd)	  	(sgd)
	César Augusto Silva	  	Leonardo Augusto Leão Lara
	Controllership Director	  	General Counsel
	Identity Card (RG): [****]	  	Identity Card (RG): [****]
	Individual Taxpayers’ Register (CPF): [****]	  	Individual Taxpayers’ Register (CPF): [****]

Editora Distribuidora Educacional S.A. 
  

			
	(sgd)	  	(sgd)
	César Augusto Silva	  	Leonardo Augusto Leão Lara
	Controllership Director	  	General Counsel
	Identity Card (RG): [****]	  	Identity Card (RG): [****]
	Individual Taxpayers’ Register (CPF): [****]	  	Individual Taxpayers’ Register (CPF): [****]

 Other Companies 

 

			
	(sgd)	  	(sgd)
	César Augusto Silva	  	Leonardo Augusto Leão Lara
	Controllership Director	  	General Counsel
	Identity Card (RG): [****]	  	Identity Card (RG): [****]
	Individual Taxpayers’ Register (CPF): [****]	  	Individual Taxpayers’ Register (CPF): [****]

 Witnesses: 
  

			
	1. (sgd)	  	2. (sgd)
	Name: Juliana P. I. G. Camargo	  	Name: Cleyton Pereira da Silva
	Identity Card (RG): [****]	  	Identity Card (RG): [****]
	Individual Taxpayers’ Register (CPF/MF): [****]	  	Individual Taxpayers’ Register (CPF/MF): [****]

 EXHIBIT I 

List of the Other Companies that are Parties to the Agreement 
  

			
	 CNPJ
	  	 COMPANY NAME

	33.005.265/0001-31	  	lUNI UNIC EDUCACIONAL LTDA
	04.492.733/0001-41	  	UNIAO DE FACULDADES DO AMAPA LTDA
	02.959.800/0001-60	  	UNIME - UNIAO METROPOLITANA PARA O DESENVOLVIMENTO DA EDUCACAO E CULTURA LTDA
	03.395.289/0001-83	  	IUNI EDUCACIONAL - UNIME SALVADOR LTDA
	03.062.543/0001-21	  	CENTRO DE ENSINO ATENAS MARANHENSE LTDA
	03.568.170/0001-65	  	UNIAO DE ENSINO UNOPAR LTDA
	03.812.746/0001-98	  	UNIC SORRISO LTDA
	24.771.792/0001-66	  	UNIAO EDUCACIONAL CANDIDO RONDON - UNIRONDON LTDA
	14.793.478/0001-20	  	UNIC EDUCACIONAL LTDA
	03.239.470/0001-09	  	PITAGORAS - SISTEMA DE EDUCACAO SUPERIOR SOCIEDADE LTDA
	03.818.379/0001-30	  	SABER SERVICOS EDUCACIONAIS LTDA.
	05.356.755/0001-47	  	PROJECTA EDUCACIONAL LTDA
	05.478.567/0001-91	  	ORME SERVICOS EDUCACIONAIS LTDA
	09.177.477/0001-11	  	PAX EDITORA E DISTRIBUIDORA LTDA
	04.310.392/0001-46	  	ANHANGUERA EDUCACIONAL PARTICIPACOES S/A
	09.544.327/0001-07	  	CLÍNICA MÉDICA ANHANGUERA LTDA
	05.792.739/0001-05	  	INSTITUTO EXCELENCIA LTDA

			
	05.808.792/0001-49	  	ANHANGUERA EDUCACIONAL LTDA
	03.207.910/0001-38	  	SOCIEDADE PIAUIENSE DE ENSINO SUPERIOR LTDA
	17.728.770/0001-58	  	EDUFOR SERVICOS EDUCACIONAIS LTDA
	01.224.108/0001-20	  	CLAUDER CIARLINI FILHO S/S
	23.963.365/0001-17	  	FATECI CURSOS TECNICOS S/S
	32.478.166/0001-04	  	CENTRO EDUCACIONAL LEONARDO DA VINCI S/S LTDA
	04.203.652/0001-84	  	DA VINCI SERVICOS EDUCACIONAIS LTDA
	05.438.997/0001-80	  	BACABAL MEARIM S. ENSINO LTDA
	28.567.073/0001-89	  	SB SISTEMA DE ENSINO LTDA
	12.097.654/0001-64	  	SEPA SOCIEDADE ED. DA PARAIBA LTDA
	22.129.299/0001-11	  	COLÉGIO LS CIDADE NOVA LTDA.
	13.953.256/0001-65	  	COLÉGIO MANAUARA CIDADE NOVA LTDA
	29.445.572/0001-66	  	COLÉGIO MANAUARA LATO SENSU LTDA.
	12.826.062/0001-36	  	NÚCLEO BRASILEIRO DE ESTUDOS AVANÇADOS LTDA
	02.541.982/0001-54	  	SOMOS EDUCAÇÃO S.A.
	00.709.873/0001-78	  	ACEL - ADMINISTRAÇÃO DE CURSOS EDUCACIONAIS LTDA.
	03.824.725/0001-92	  	SOMOS IDIOMAS S.A.
	03.953.723/0001-01	  	COLÉGIO MOTIVO LTDA.
	61.259.958/0001-96	  	EDITORA ÁTICA S.A.
	44.127.355/0001-11	  	EDITORA SCIPIONE S.A.
	80.190.796/0001-21	  	MAXIPRINT EDITORA LTDA.
	10.778.464/0001-87	  	NICE PARTICIPAÇÕES S.A.
	12.708.358/0001-52	  	SGE COMÉRCIO DE MATERIAL DIDÁTICO LTDA.
	40.345.365/0001-72	  	SISTEMA P.H. DE ENSINO LTDA.
	49.323.314/0001-14	  	SOMOS SISTEMAS DE ENSINO S.A.
	07.593.758/0001-20	  	SOCIEDADE EDUCACIONAL PARANÁ LTDA.

			
	57.024.820/0001-30	  	SOCIEDADE EDUCACIONAL DOZE DE OUTUBRO LTDA.
	50.268.838/0001-39	  	SARAIVA EDUCAÇÃO S.A.
	09.793.548/0001-00	  	ESCOLA MATER CHRISTI LTDA.
	20.000.183/0001-52	  	EDITORA JOAQUIM LTDA.
	19.962.104/0001-05	  	EDITORA TODAS AS LETRAS LTDA.
	19.962.101/0001-71	  	EDITORA PIGMENTO LTDA.
	01.853.472/0001-50	  	ECSA - ESCOLA A CHAVE DO SABER LTDA.
	24.081.734/0001-00	  	SARAIVA SOLUÇÕES EDUCACIONAIS S.A.
	02.852.848/0001-74	  	COLÉGIO JAÓ LTDA.
	26.083.507/0001-40	  	SOMOS OPERAÇÕES ESCOLARES S.A.
	27.122.501/0001-05	  	PAPELARIA BRASILIANA LTDA.
	14.397.809/0001-03	  	EDUCAÇÃO INOVAÇÃO E TECNOLOGIA S.A.
	27.317.542/0001-49	  	SOMOS EDUCAÇÃO INVESTIMENTOS S.A.
	19.292.023/0001-45	  	STOODI ENSINO E TREINAMENTO À DISTÂNCIA S.A.
	96.318.142/0001-70	  	LIVRARIA LIVRO FÁCIL LTDA.
	30.044.407/0001-81	  	COLÉGIO ANGLO SÃO PAULO LTDA.
	24.773.186/0001-80	  	SOCIEDADE EDUCACIONAL DE RONDONÓPOLIS LTDA.
	05.427.476/0001-27	  	SOCIEDADE RONDONOPOLITANA DE EDUCAÇÃO LTDA.
	07.204.769/0001-70	  	COLÉGIO AMBIENTAL LTDA.
	08.607.276/0001-44	  	COLÉGIO CIDADE LTDA.
	07.117.596/0001-53	  	CURSOS E COLÉGIO COQUEIROS LTDA.
	85.288.199/0001-58	  	ESCOLA RIACHO DOCE LTDA.
	07.622.613/0001-00	  	COLÉGIO VISÃO LTDA.
	62.404.900/0001-51	  	ESCOLA SANTO INÁCIO LTDA.
	15.611.569/0001-60	  	COLÉGIO DO SALVADOR LTDA.
	12.992.868/0001-02	  	SOCIEDADE EDUCACIONAL NEODNA CUIABÁ LTDA.
	24.408.794/0001-95	  	INSTITUTO SOMOS ETB

			
	14.420.692/0001-31	  	COMPLEXO EDUCACIONAL AGORA EU PASSO S/S - PLENARIUM/ AGORA EU PASSO
	12.753.752/0001-02	  	CEI - CENTRO DE EDUCAÇÃO INTEGRADA S.A.
	04.728.907/0001-22	  	SALMO NOVENTA CENTRO EDUCACIONAL LTDA.
	21.364.638/0001-81	  	ESPAÇO INFANTIL PRIMEIROS PASSOS LTDA.
	20.023.328/0001-30	  	THUNNUS PARTICIPAÇÕES S.A.
	30.656.969/0001-86	  	SOCIEDADE EDUCACIONAL ALPHAVILLE S.A.
	27.796.399/0001-15	  	ELIGIS TECNOLOGIA E EDUCAÇÃO LTDA
	07.333.953/0001-10	  	CENTRO DE ENSINO SUPERIOR DE MARABÁ LTDA.
	11.366.247/0001-42	  	CEPAR - CENTRO DE ENSINO SUPERIOR DE PARAUAPEBAS LTDA.
	11.463.220/0001-78	  	CESUPAR - CENTRO DE ENSINO SUPERIOR DE PARAGOMINAS LTDA.

 SP - 27082399v1 
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