We are the market leader and enjoy 40.2% market share in retail management software in Brazil, nearly three times larger than our closest competitor and larger than our top three competitors combined, according to the IDC Linx Report. We believe we have significant expertise across many retail verticals, which combined with our comprehensive solutions has allowed us to become the leading provider of cloud and on- premise software solutions for the retail sector in Brazil, according to the IDC Linx Report.

We work in close proximity with our customers to understand their businesses and business needs and are thereby able to offer them bespoke software solutions. Our long-term presence has enabled us to develop products with what we believe is exceptionally high adherence to the retail sector, naturally creating strong barriers for new entrants. Concurrently, this has allowed us to develop dedicated expertise and local knowledge of best practices across retail verticals including apparel stores, auto dealerships, gas stations and convenience stores, drug stores, electronics and appliance stores, general merchandise stores, home centers, and food service. As a market leader, we believe we attract and retain the best and most innovative technology professionals in the retail software industry.