• YDUQS will absorb Afya under a merger protocol dated November 3, 2026, remaining listed on B3’s Novo Mercado.
• Afya shareholders will own 69% of the combined company on a fully diluted basis; existing YDUQS shareholders will hold 31%.
• The initial exchange ratio gives each Afya Class A or Class B ordinary share 6.408347 ordinary shares in the surviving company, subject to adjustments.
• Bertelsmann will hold 47.4% of the combined company, based on the indicative ownership structure.
• Completion requires shareholder and CADE clearance, with a March 31, 2028 deadline subject to extension.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. YDUQS Participações SA published the original content used to generate this news brief on November 03, 2026, and is solely responsible for the information contained therein.