Why do we like this opportunity?
Distribution via Hurst: Latin America's largest real assets platform
Legal certainty, simplified access and regular auditing for all operations. The above estimate is not a promise or guarantee of return. Potential investors should read all the risk factors associated with the offer, as well as be aware of the risks associated with the total or partial loss of their investments or obtaining returns lower than those estimated
Investment Summary
This is the 1st Series of the 175th Issue of Receivables Certificates by Hurst Securitizadora, backed by receivables arising from the commercial exploitation by Retrato Filmes Ltda ("Retrato") of 45.28% of a portfolio of audiovisual projects in the exploitation segments. The return on the investment will be through the revenues generated by the commercial exploitation of this portfolio of films, in the estimated period between September/25 and April/26.
Attractive Return
Projected target return of 23% per year - above the vast majority of fixed-income securities.*
Highly uncorrelated with the traditional financial market
The performance of the audiovisual market is little affected in times of political and economic uncertainty, which makes it very attractive.
A pulverized portfolio
The offer includes receivables from the exploitation in various market segments of a diversified portfolio of audiovisual assets.
Projected scenarios
See how much your money can earn with this operation
Pessimistic Scenario
Base Scenario
Optimistic Scenario
*Simulation projected at a return of 23% p.a. based on analysis by Hurst Capital specialists. There is no guarantee that the estimate will materialize.
Risks
1. Securitization Risk
The recent development of securitization of credit rights can generate legal and/or financial risks for investors. The securitization of receivables is a complex operation when compared to other securities issues because of the credit risk and solvency of the securities issued by the securitization vehicle, The credit rights make up the backing of the RCs and constitute their source of payment. Inadequate realization and/or delays in implementing the collection of the credit rights that constitute the backing of the RCs, as well as the default of their debtors, may therefore directly and adversely affect the payment of the RCs. Risks Law 14.430 and CVM Resolution 60, together with CVM Resolution 88, Official Letter 4 CVM/SSE and Official Letter 6 CVM/ SER, among other regulations, constitute the main legal and infra-legal diplomas regulating the securitization of credit rights and their offer through crowdfunding platforms. crowdfunding platforms. However, offers made through crowdfunding platforms have been little used in the market and have not been fully regulated. As a result, since this is a recent market in Brazil, which is not yet fully regulated, there may be situations in which there are no rules governing it, thus generating a risk for investors. risk to investors, since the Judiciary and regulatory bodies may, when analyzing the issue and interpreting the rules governing the matter, make decisions unfavorable to the interests of investors. The issuer is subject to insolvency, bankruptcy, judicial or extrajudicial reorganization scenarios The securitization company is subject to insolvency, bankruptcy, judicial or extrajudicial reorganization scenarios. In this way, any contingencies of the Issuer, especially tax, social security and labor contingencies, may affect the assigned credit rights, mainly due to the lack of case law in Brazil on the full effectiveness of the allocation of assets, which may negatively affect the Issuer's ability to honor the obligations assumed with the CR holders.
2. Lower than expected remuneration
The above estimate is not a promise or guarantee of return. The receivables from the Operation may not be sufficient to achieve the profitability established.
Fraud
As this is an operation involving the credit rights of third parties, there is a risk that Retrato may negotiate the rights in fraud against third parties (such as creditors) and/or the receivables may be subject to enforcement of guarantees and other legal measures, which may result in partial or total loss of the investment. In addition, commercial exploitation is carried out by third parties and validated by means of commercial reports and contracts, which may be fraudulent and adulterated.
Commercial underperformance
The main risk of the operation. The return on investment is linked to the projected commercial performance of the work, based on Retrato's previous track record and the previous performance of similar projects. The film is subject to poor adherence to the local market, i.e. it may not attract audiences to the cinema and/or streaming platforms and/or channels for purchase from other windows.
Default by the source of payment
Retrato operates as an intermediary between the rights of the work and exhibitors throughout the country (cinemas, channels and streaming platforms). As a result, the operation involves negotiations with various payment sources, and is exposed to the risk of each of these partners not passing on the receivables or not honoring the established contracts.
Documents
Disclaimer
The offer presented on this platform is automatically exempt from registration by the Brazilian Securities and Exchange Commission (CVM), pursuant to CVM Resolution No. 88 and Circular Letters No. 4/2023 and No. 6/2023 issued by the Superintendence of Securities and Exchange Commission (CVM).
Securitization Supervision (SSE) of the CVM. The CVM does not analyze offers under this Resolution in advance. The CVM does not guarantee the accuracy of the information provided or its compliance with current legislation. Before accepting an offer, please read the essential information about the offer carefully, especially the risk warning section. This presentation has been prepared by Hurst Serviços de Investimento Coletivo e Securitização S.A. ("Platform") for information purposes only and is in no way a binding offer. All the conditions and terms of the Transaction are defined in the documents "TERMS OF SECURITIZATION OF CREDIT RIGHTS OF THE 1ST AND 2ND SERIES OF THE 175TH (one hundred and seventy-fifth) ISSUE OF RECEIVABLES CERTIFICATES", signed by the Platform and "Commitment to Subscribe to Receivables Certificates, with Term of Adhesion and Risk Acknowledgment" ("Transaction Agreements"), to be signed by investors, in order to adhere to the terms of the offer. The Transaction described on this page is an adhesion to the public offering of CRs backed by the credit rights arising from Retrato's commercial exploitation rights, which were assigned to Hurst Securitizadora, in relation to the works indicated in this material and under the terms of the Transaction Agreements. The term of the Operation and the calculated profitability were projected based on (i) the restatement levied on each credit right that is part of the portfolio, taking into account future market projections, indicated in the "Return on the Operation" section, (ii) the acquisition value of the credit rights, with a discount, and (iii) the estimated maturity. The Platform does not undertake to guarantee the accuracy of the information and forecasts provided here, nor to update the presentation, and may change its content without prior notice. The Platform makes no representations or warranties that the information contained in this presentation or
the presentation itself are complete or accurate, nor for any omission in this presentation or in any oral communication transmitted to the recipient throughout its analysis, undertaking only to take all precautions and act with high standards of diligence to ensure that the information transmitted is true, consistent, correct and sufficient. These statements, estimates and projections reflect the assumptions of the Platform and third parties, and are subject to economic and market uncertainties and contingencies, most of which are beyond the Platform's control. Forecasts and results may differ from those anticipated and these differences may be significant. The content is not yet, nor does it contain any recommendation, indication and/or investment advice, and it is the sole and exclusive responsibility of the investor to make this decision. Should any investor decide to invest in this operation, like any investment, the CRs investment presents risks and the possibility of asset losses that should be carefully considered before making an investment decision. Potential investors interested in this transaction are advised to consult their lawyers, accountants, financial advisors and any other professionals they deem necessary to help them assess the suitability of the investment profile, as well as the risks inherent in the business. All investments
involve risk, including the risk of losing all capital invested. Diversification and alternative asset allocation do not guarantee profits or guarantee against losses. Investment decisions should