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Grupo Ser Educacional was established in 1993, with the founding of Complexo Educacional Bureau Jurídico, under the leadership of Professor José Janguiê Diniz ("Janguiê"), who taught preparatory courses for public examinations for government jobs, which was a new field of business in the city of Recife at the time. That same year, Mr. Diniz began to hold national and international conferences in the legal field. As the brand became more successful, the Complexo Educacional Bureau Jurídico began offering preparatory courses in 1999 for the university admissions exams to study law.

In 2003, Faculdade Maurício de Nassau, operated by Ensino Superior Bureau Jurídico Ltda. (ESBJ), the successor to Complexo Educacional Bureau Jurídico, was officially founded with the publication of MEC Ordinance 1.109 in Brazil’s Official Gazette. At the same time, degree programs in law, business administration, social communication and biomedicine were authorized. The decision to create a college was made by Mr. Diniz himself, who recognized a need in the local market and made every effort to develop a quality post-secondary education project. He named the institution Faculdade Maurício de Nassau after the exceptional entrepreneur Maurício de Nassau, an important figure in the history of Recife.

A little more than three years after its founding, Faculdade Maurício de Nassau had established itself as an educational institution focused on growth and expansion, with a management structure capable of supporting the integration and consolidation of its expansion project into major cities in Brazil’s North and Northeast regions..

In 2006, Faculdade Maurício de Nassau acquired institutions in João Pessoa and Campina Grande, in the state of Paraíba.

In 2007, Faculdade Maurício de Nassau implemented an Advisory Council as a means of guiding its strategies. One of the key assignments for the Council, together with Hoper Consulting, was to redefine the Company’s strategic planning. During that same year, Grupo Universitário Maurício de Nassau obtained accreditation for and began operating Faculdade Joaquim Nabuco, in the city of Paulista, in the state of Pernambuco, with a new business model oriented toward lower-income students.

In order to increase the efficiency of its ongoing expansion project and strengthen its corporate governance policy, in 2008 the Company instituted a Board of Directors, formed by shareholder representatives and professionals recognized in the market for their professional experience with major Brazilian corporate groups. In October 2008, Cartesian Capital Group invested R$48.0 million and became the holder of an 11.3% interest in ESBJ.

Also in 2008, Faculdade Joaquim Nabuco opened a new campus in downtown Recife, and acquired Faculdade Baiana de Ciências (FABAC) in Salvador and Lauro de Freitas, ESAMC (ADEA - Sociedade de Desenvolvimento Educacional Avançado Ltda.) in Maceió, and CDF (SECARGO - Sociedade Educacional Carvalho Gomes Ltda.), in Natal, continuing its expansion process throughout Brazil’s Northeast region.

In 2009, Grupo Universitário Maurício de Nassau reformulated its academic directives and, as a result, unified the syllabi and education plans of the various courses offered, implementing the E-Journal methodology of quality control and a process of academic audits (for further information, please see item 7.3 of this Reference Form).

This restructuring and growth continued in 2010, when Grupo Universitário Maurício de Nassau received auditors from the International Finance Corporation, a member of the World Bank group, which approved a R$80 million line of credit. The Grupo Universitário Maurício de Nassau began implementation of ISO 9001, in order to structure the corporate group in a way that would enable it achieve certification and, as a result, it reevaluated and redefined all of its internal processes. During that same year, after a branding project, it decided to change the name of the corporate group to Grupo Ser Educacional S.A.

In 2011, Grupo Ser Educacional S.A. significantly increased the portfolio of programs offered on its campuses. Also during this year, the Company incorporated campuses in Aracaju and Belém, in addition to the campus in Mercês, in the city of Salvador.

In 2012, through MEC Ordinance 701, Faculdade Maurício de Nassau in Recife was accredited as a university center and its name became Centro Universitário Maurício de Nassau, or UNINASSAU, obtaining ISO 9001 certification in that same year. In addition, Ser Educacional opened a campus in Caruaru, Pernambuco, and acquired campuses in Manaus and São Luís.

In 2013, three campuses were acquired in Piauí (FAP Teresina, Faculdade Aliança and FAP Parnaíba), one campus in Paulista, Recife (Faculdade Decisão) and one campus in Vitória da Conquista, in Bahia (Faculdade Juvêncio Terra).

In 2013, as well as celebrating its tenth anniversary, Grupo Ser Educacional held its initial public offering (IPO) and its shares began trading in the Novo Mercado listing segment of Brazil’s Stock Exchange (B3), listed among the publicly-held companies with the market’s highest corporate governance levels.

In 2014, it acquired Faculdade Anglo Líder - FAL, in São Lourenço da Mata, in the state of Pernambuco, União de Ensino Superior do Pará - UNESPA ("UNESPA"), supporting entity of Universidade da Amazônia - UNAMA, in Belém, in the state of Pará and Instituto Santareno de Educação Superior - ISES, supporting entity of Faculdades Integradas Tapajós - FIT, headquartered in Santarém, also in Pará.

In 2015, Ser Educacional moved ahead with its expansion plan and launched operations in the Southeast Region. It acquired the entire capital stock of Sociedade Paulista de Ensino e Pesquisa S/S Ltda, supporting entity of UNG, through its subsidiary CENESUP - Centro Nacional de Ensino Superior Ltda., under the terms of Stock Purchase Agreement and Other Covenants. UnG, one of the most traditional universities in Brazil and the only one in the Guarulhos region, currently has 5 campuses, 3 of which in Guarulhos (Dutra, Bonsucesso and Centro), one in São Paulo City (Shopping Light) and one in Itaquaquecetuba, São Paulo State. UnG celebrated its 45th anniversary in 2015 and is a benchmark in the area where it operates due to its academic strength and wide range of undergraduate and lato and stricto sensu graduate courses (three master‘s degree programs and one doctorate program), as well as its faculty’s expertise.

Ser Educational also acquired Faculdade Talles de Mileto (FAMIL), for R$6.0 million, in 2015 as well. FAMIL had 2 units one in Fortaleza, Ceará State, and one in Parnamirim, Rio Grande do Norte State and also signed with Instituto Metodista Bennett a Maintenance Assignment Agreement and Other Covenants providing for the assignment of Centro Universitário Bennett’s Maintenance to UNESPA for R$10.0 million, to be paid upon completion of the assignment. This will allow the Company to have a university license and, therefore, be able to launch new courses by the time it launches operations in Rio de Janeiro City if the maintenance assignment is successful.

In the period between December 31, 2015 and December 31, 2016, 253 new courses were approved in its present units, reaching a total of 1,159 courses on December 31, 2016, in addition to four new in-class teaching units located in the cities of Cabo de Santo Agostinho (PE), João Pessoa (PB), Jaboatão dos Guararapes (PE), Maceió (AL), closing 2016, with 46 units. In 2016, we also expanded our activities in the Southeast region by creating the UNIVERITAS brand, in the city of Belo Horizonte (MG), through the signature of a Non-Onerous Assignment Agreement for the Maintenance of Faculdade São Camilo (FASC), in addition to the completion of the Onerous Assignment of Maintenance Agreement and Other Covenants of Centro Universitário Bennett, in the city of Rio de Janeiro, which will operate under the brand "Centro Universitário UNIVERITAS".

In 2017, the Company had 29 new units accredited by the Ministry of Education (MEC): Boa Vista (RR), Porto Velho (RO), Rio Branco (AC), Fortaleza (CE), Marabá (PA), Garanhuns (PE), Maracanaú (CE), Ananindeua (PA), Anápolis (GO), Juazeiro do Norte (CE), Sobral (CE), Mossoró (RN), Natal (RN), Brasília (DF), Arapiraca (AL), Campo Grande (MS), Macapá (AP), Cuiabá (MT), Porto Alegre (RS), Vitória (ES), Goiânia (GO), Belém (PA), Palmas (TO), Salvador (BA), Curitiba (PR), Joinville (SC), Patos (PB), Imperatriz (MA) and Campinas (SP). During 2017, in addition to the accredited units, 332 new courses were approved, accumulating 1,491 undergraduate courses on December 31, 2017. As a result, in December 2017, the Company had more than 868,000 places per year, 536,200 of which in the distance learning segment. UNAMA - Universidade da Amazônia - was accredited to offer distance learning in Brazil. With the new accreditation, UNAMA will be able to launch up 150 poles per year. As a result, Grupo Ser Educacional can count on a total of 700 distance learning poles. The Joaquim Nabuco de Paulista and Recife colleges received the accreditation of the MEC as a university center which allows them to open new courses without the need for prior approval of the MEC.