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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>As filed with the Securities and Exchange
Commission on December 4, 2020</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="text-align: right; font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 5in"><B>Registration No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>

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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3.3pt 0 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B>&nbsp;</P>

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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 4.4pt 0 0; text-align: center"><B>FORM S-8</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REGISTRATION STATEMENT</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNDER</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>THE SECURITIES ACT OF 1933</B>&nbsp;</P>

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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AFYA LIMITED</B></P>

<DIV STYLE="padding: 0in; border-bottom: Black 0.75pt solid">

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 1.1pt; text-align: center"><B>(Exact name of registrant as specified
in its charter)</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 1.1pt; text-align: center">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 9pt"><B>The Cayman Islands</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 9pt"><B>N/A</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 9pt">(State or other jurisdiction of incorporation or organization)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 9pt">(IRS Employer Identification No.)</FONT></TD></TR>
<TR>
    <TD COLSPAN="5">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 4.4pt 0 1.1pt; text-align: center"><B>Alameda Oscar Niemeyer, No. 119,
        Sala 504, Zip Code 34.006-056</B></P>
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 4.4pt 0 0; text-align: center"><B>Vila da Serra, Nova Lima, Minas Gerais,
        Brazil</B></P>
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 1.1pt; text-align: center"><B>+55 (31) 3515 7550</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="text-align: center"><FONT STYLE="font-size: 9pt">(Address of Principal Executive Offices, including zip code)</FONT></TD></TR>
<TR>
    <TD STYLE="width: 37%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 32%">&nbsp;</TD></TR>
</TABLE>
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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 1.1pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Afya
Limited</B></FONT><B> <FONT STYLE="font-size: 8pt">L</FONT><FONT STYLE="font-size: 9pt">ong-term Incentive Plan</FONT></B></P>

<DIV STYLE="padding: 0in; border-bottom: Black 0.75pt solid">

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Full title of the plan)</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 1.1pt; text-align: center"><B>Cogency Global Inc.</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 1.1pt; text-align: center"><B>122 East 42nd Street, 18th Floor</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 1.1pt; text-align: center"><B>New York, NY 10168</B></P>

<DIV STYLE="padding: 0in; border-bottom: Black 0.75pt solid">

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 4.4pt 0 0; text-align: center"><B>+1 (212) 947-7200 </B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Telephone number, including area code, of agent
for service)&nbsp;</P>

</DIV>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions
of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company,&rdquo; and &ldquo;emerging
growth company&rdquo; in Rule 12b-2 of the Exchange Act.&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Large&nbsp;accelerated&nbsp;filer</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Wingdings; font-size: 9pt">&#168;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Accelerated&nbsp;filer</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Wingdings; font-size: 9pt">x</FONT><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; width: 15%"><FONT STYLE="font-size: 9pt">Non-accelerated filer</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 22%"><FONT STYLE="font-family: Wingdings; font-size: 9pt">&#168;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 26%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%"><FONT STYLE="font-size: 9pt">Smaller&nbsp;reporting&nbsp;company</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%"><FONT STYLE="font-family: Wingdings; font-size: 9pt">&#168;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 15%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Emerging growth company</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Wingdings; font-size: 9pt">x</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided
pursuant to Section 7(a)(2)(B) of the Securities Act. <FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 1.1pt; text-align: center; border-bottom: Black 0.75pt solid">&nbsp;<B>CALCULATION
OF REGISTRATION FEE</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 47%; border: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt"><B>Title of securities to be registered</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt"><B>Amount to be<BR>
registered</B><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Proposed maximum</B></P>
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>offering price per</B></P>
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>share</B></P></TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Proposed maximum</B></P>
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>aggregate offering</B></P>
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>price</B></P></TD>
    <TD STYLE="width: 4%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Amount of</B></P>
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>registration fee</B></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 8.8pt; text-indent: -8.8pt">Class A common shares, nominal value</P>
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 8.8pt; text-indent: -8.8pt">US$0.00005 per common share</P>
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 8.8pt; text-indent: -8.8pt">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 8.8pt; text-align: center; text-indent: -8.8pt">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt">2,390,763<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt">US$14.79<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt">US$35,359,384.77</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt">US$3,857.71</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 8.8pt; text-indent: -8.8pt">Class A common shares, nominal value</P>
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 8.8pt; text-indent: -8.8pt">US$0.00005 per common share</P>
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 8.8pt; text-indent: -8.8pt">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt">66,090<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt">US$19.17<SUP>(4)</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt">US$1,266,945.30</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt">US$138.22</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 8.8pt; text-indent: -8.8pt">Class A common shares, nominal value</P>
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 8.8pt; text-indent: -8.8pt">US$0.00005 per common share</P>
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 8.8pt; text-indent: -8.8pt">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt">1,269,016<SUP>(5)</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt">US$26.64 <SUP>(5)</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt">US$33,806,586.24</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt">US$3,688.30</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 8.8pt; text-indent: -8.8pt"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt"><B>3,725,869</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt"><B>US$70,432,916.31</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt"><B>US$7,684.23</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: top; width: 4%"><FONT STYLE="font-size: 9pt">(1) &nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; vertical-align: top; width: 92%"><FONT STYLE="font-size: 9pt">
This Registration Statement on Form&nbsp;S-8 (this &ldquo;<B>Registration Statement</B>&rdquo;) covers Class&nbsp;A common shares,
par value US$0.00005 per share (&ldquo;<B>Class&nbsp;A common shares</B>&rdquo;), of Afya Limited (the &ldquo;<B>Registrant</B>&rdquo;)
issuable under the Registrant&rsquo;s long-term incentive plan dated as of August 30, 2019, as amended on July 29, 2020 (the &ldquo;<B>Plan</B>&rdquo;).&nbsp;
Pursuant to Rule&nbsp;416(a)&nbsp;under the Securities Act of 1933, as amended (the &ldquo;<B>Securities Act</B>&rdquo;), this
Registration Statement shall also covers an indeterminate number of additional Class&nbsp;A common shares that become issuable
under the Plan which may be offered and issued to prevent dilution resulting from adjustments as a result of share dividends,
share splits, reverse share splits, mergers, reorganizations, consolidations or other similar transactions.&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: top; width: 4%"><FONT STYLE="font-size: 9pt">(2) &nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; vertical-align: top; width: 92%"><FONT STYLE="font-size: 9pt">
Represents class A common shares of the Registrant issuable pursuant to options outstanding under the Plan.</FONT></TD></TR>
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: top; width: 4%"><FONT STYLE="font-size: 9pt">(3) &nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; vertical-align: top; width: 92%"><FONT STYLE="font-size: 9pt">
Estimated in accordance with Rule 457(h) solely for the purpose of calculating the registration fee. The price of US$14.79 per
Class A common share represents the price in U.S. dollars of the weighted average exercise price for outstanding options granted
under the Plan with exercise prices in Brazilian <I>reais. </I>This weighted average exercise price is in Brazilian <I>reais</I>
and has been set at R$76.36. For purposes of the calculation of the registration fee, such exercise prices in Brazilians <I>reais
</I>have been converted to U.S. dollars using the December 3, 2020 selling exchange rate (US$1.00 &ndash; R$5.1625) published
by the Brazilian Central Bank (<I>Banco Central do Brasil</I>) on its website.</FONT></TD></TR>
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: top; width: 4%"><FONT STYLE="font-size: 9pt">(4) &nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; vertical-align: top; width: 92%"><FONT STYLE="font-size: 9pt">
Estimated in accordance with Rule 457(h) solely for the purpose of calculating the registration fee. The price of US$19.17 per
Class A common share represents the weighted average in U.S. dollars of the exercise prices for outstanding options granted under
the Plan with exercise prices in U.S dollars.</FONT></TD></TR>
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: top; width: 4%"><FONT STYLE="font-size: 9pt">(5) &nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; vertical-align: top; width: 92%"><FONT STYLE="font-size: 9pt">
These Class A common shares are reserved for future award grants under the Plan, and the corresponding proposed maximum offering
price per Class A common share (US$26.64), which is estimated solely for the purposes of calculating
the registration fee under Rule 457(h) and Rule 457(c), is based on the average of the high and low prices for the Registrant&rsquo;s
Class A common shares reported on the Nasdaq Global Select Market on </FONT><FONT STYLE="font-size: 9pt">December 2, 2020.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PART&nbsp;I</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: center">&nbsp;<B>INFORMATION REQUIRED IN THE
SECTION&nbsp;10(a)&nbsp;PROSPECTUS</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><B>Item 1. Plan Information.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The information required by Item 1 of Part I
of Form S-8 is omitted from this Registration Statement in accordance with Rule 428 under the Securities Act and the introductory
note to Part I of Form S-8.&nbsp;&nbsp;The documents containing the information specified in Part I will be delivered to the participants
in the Plan covered by this Registration Statement as required by Rule 428(b)(1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><B>Item 2. Registrant Information
and Employee Plan Annual Information.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The information required by Item 2 of Part I
of Form S-8 is omitted from this Registration Statement in accordance with Rule 428 under the Securities Act and the introductory
note to Part&nbsp;I of Form S-8.&nbsp;&nbsp;The documents containing the information specified in Part&nbsp;I will be delivered
to the participants in the Plan covered by this Registration Statement as required by Rule 428(b)(1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>




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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PART II</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: center"><B>INFORMATION REQUIRED IN THE REGISTRATION
STATEMENT</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%"><FONT STYLE="font-size: 9pt"><B>Item&nbsp;3.</B></FONT></TD>
    <TD STYLE="width: 88%"><FONT STYLE="font-size: 9pt"><B>Incorporation of Documents by Reference.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 4.4pt 0 0; text-indent: 0.5in">The following documents, which previously
have been filed with the U.S. Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;) by the Registrant are hereby
incorporated by reference in this Registration Statement:</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 9pt">(a)</FONT></TD>
    <TD STYLE="vertical-align: top; width: 92%"><FONT STYLE="font-size: 9pt">The Registrant&rsquo;s annual report on Form 20-F filed with the Commission on April 20, 2020 (File No. 001-38992) (the &ldquo;<B>2019 Form 20-F</B>&rdquo;), which includes the Registrant&rsquo;s audited consolidated financial statements as of December 31, 2019 and 2018 and for the years ended December 31, 2019, 2018 and 2017; </FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%"><FONT STYLE="font-size: 9pt">(b)</FONT></TD>
    <TD STYLE="vertical-align: top; width: 92%">
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">All other reports filed by the Registrant pursuant to Section 13(a)
        or 15(d) of the Securities Exchange Act of 1934, as amended (the &ldquo;<B>Exchange Act</B>&rdquo;) since December 31, 2019; and</P>
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 9pt">(c)</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 9pt">The description of the Registrant&rsquo;s Class&nbsp;A common shares contained in the Registrant&rsquo;s 2019 Form 20-F;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In addition to the foregoing, all documents filed
by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (with respect to any Form 6-K, only to the
extent designated therein) after the date of this Registration Statement and prior to the filing of a post-effective amendment
to this Registration Statement, which indicates that all securities offered hereby have been sold or which deregisters all securities
then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from
the date of filing of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference
herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement
contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein
modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified
or superseded, to constitute a part of this Registration Statement.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 4. Description of Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 5. Interests of Named Experts and Counsel.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 6. Indemnification of Directors and Officers.</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">Cayman Islands law does not limit the extent
to which a company&rsquo;s articles of association may provide for indemnification of directors and officers, except to the extent
that it may be held by the Cayman Islands courts to be contrary to public policy, such as providing indemnification against civil
fraud or the consequences of committing a crime.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">The Registrant&rsquo;s Amended and Restated
Memorandum and Articles of Association provide that each director or officer of the Registrant shall be indemnified out of the
assets of the Registrant against all actions, proceedings, costs, charges, expenses, losses, damages, liabilities, judgments, fines,
settlements and other amounts (including reasonable attorneys&rsquo; fees and expenses and amounts paid in settlement and costs
of investigation (collectively &ldquo;Losses&rdquo;) incurred or sustained by such directors or officers, other than by reason
of such person&rsquo;s dishonesty, willful default or fraud, in or about the conduct of the Registrant&rsquo;s business or affairs
(including as a result of any mistake of judgment) or in the execution or discharge of such person&rsquo;s duties, powers, authorities
or discretions, including without prejudice to the generality of the foregoing, any Losses incurred by such director or officer
in defending or investigating (whether successfully or otherwise) any civil, criminal, investigative and administrative proceedings
concerning or in any way related to the Registrant or its affairs in any court whether in the Cayman Islands or elsewhere.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">Also, the Registrant has entered, and intends
to continue to enter into indemnification agreements with its directors and officers that provide such persons with contractual
rights to indemnification as well as additional indemnification beyond that provided in the Registrant&rsquo;s Amended and Restated
Memorandum and Articles of Association.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">Insofar as indemnification for liabilities arising
under the Securities Act may be permitted to directors, officers or persons controlling the Registrant under the foregoing provisions,
the Registrant has been informed that in the opinion of the Commission such indemnification is against public policy as expressed
in the Securities Act and is therefore unenforceable.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 7. Exemption from Registration Claimed.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%"><FONT STYLE="font-size: 9pt"><B>Item&nbsp;8.</B></FONT></TD>
    <TD STYLE="width: 86%"><FONT STYLE="font-size: 9pt"><B>Exhibits.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in; border-bottom: black 0.75pt solid">

        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"><B>Exhibit&nbsp;</B></P>
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"><B>Number</B></P>
</DIV></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 88%; padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in; border-bottom: black 0.75pt solid">

        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"><B>Description of Document</B></P>
</DIV></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1771007/000104746919004047/a2239191zex-3_1.htm"><FONT STYLE="font-size: 9pt">4.1</FONT></A></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1771007/000104746919004047/a2239191zex-3_1.htm"><FONT STYLE="font-size: 9pt">Amended and Restated Memorandum and Articles of Association of the Registrant (incorporated by reference to Exhibit 3.1 of Amended No. 1 to Registration Statement on Form F-1 (File No. 333-232309) filed with the Commission on July 9, 2019</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><A HREF="exhibit04_2.htm"><FONT STYLE="font-size: 9pt">4.2*</FONT></A></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><A HREF="exhibit04_2.htm"><FONT STYLE="font-size: 9pt">English translation of Afya Limited long-term incentive plan dated as of August 30, 2019, as amended on July 29, 2020.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><A HREF="exhibit05_1.htm"><FONT STYLE="font-size: 9pt">5.1*</FONT></A></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><A HREF="exhibit05_1.htm"><FONT STYLE="font-size: 9pt">Opinion of Maples </FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt">23.1*</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt">Consent of Maples (included in Exhibit 5.1)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><A HREF="exhibit23_2.htm"><FONT STYLE="font-size: 9pt">23.2*</FONT></A></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><A HREF="exhibit23_2.htm"><FONT STYLE="font-size: 9pt">Consent of Ernst &amp; Young Auditores Independentes S.S., an independent registered public accounting firm</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt">24.1*</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt">Power of Attorney (included in the signature page to this Registration Statement)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 9pt">*</FONT></TD>
    <TD STYLE="width: 99%"><FONT STYLE="font-size: 9pt">Filed herewith</FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>


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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in"><B>Item 9.&nbsp; Undertakings.</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The undersigned Registrant hereby undertakes:</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.25in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.25in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To include any prospectus required by Section&nbsp;10(a)(3)&nbsp;of the Securities Act;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.25in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in this Registration Statement; and</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.25in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To include any material information with respect to the Plan not previously disclosed in this Registration Statement or any material
change to such information in this Registration Statement;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in"><I>provided</I>, <I>however</I>, that paragraphs (a)(1)(i)&nbsp;and
(a)(1)(ii)&nbsp;do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section&nbsp;13 or 15(d)&nbsp;of the
Exchange Act that are incorporated by reference in this Registration Statement.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.25in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.25in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at
the termination of the offering.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing
of the Registrant&rsquo;s annual report pursuant to Section&nbsp;13(a)&nbsp;or 15(d)&nbsp;of the Exchange Act (and, where applicable,
each filing of an employee benefit plan&rsquo;s annual report pursuant to Section&nbsp;15(d)&nbsp;of the Exchange Act) that is
incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons
controlling the Registrant pursuant to the foregoing provisions, the Registrant has been advised that, in the opinion of the Commission
such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.&nbsp; In the event
that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid
by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will,
unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed
by the final adjudication of such issue.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-indent: 23.1pt">Pursuant to the requirements of the
Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing this Registration Statement on Form S-8 and has duly caused this Registration Statement to be signed on
its behalf by the undersigned, thereunto duly authorized, in Nova Lima, Brazil, on December 4, 2020.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-indent: 23.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 9pt">Afya Limited</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 9pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 9pt">/s/Virgilio Deloy Capobianco Gibbon</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 9pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">Virgilio Deloy Capobianco Gibbon</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 9pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 9pt">Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: bold 9pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">POWER OF ATTORNEY</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 42.85pt">KNOW ALL PERSONS BY THESE PRESENTS, that each
person whose signature appears below constitutes and appoints Virgilio Deloy Capobianco Gibbon and Luis Andr&eacute; Blanco as
his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and
in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments)
to this Registration Statement and any and all additional registration statements and to file the same, with all exhibits thereto,
and all other documents in connection therewith, with the Commission, granting unto said attorneys-in-fact and agents, and each
of them, full power and authority to do and perform each and every act in person, hereby ratifying and confirming all that said
attorneys-in-fact and agents, or any of them, or their substitutes may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 42.85pt">Pursuant to the requirements of the Securities
Act, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 33%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt"><B>Signature</B></FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 48%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt"><B>Title</B></FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 9pt"><B>Date</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 9pt">/s/ Virgilio Deloy Capobianco Gibbon</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 9pt">Chief Executive Officer</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">December 4, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Virgilio Deloy Capobianco Gibbon</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 9pt">(Principal Executive Officer)</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 9pt">/s/ Luis Andr&eacute; Blanco</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 9pt">Chief Financial Officer</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">December 4, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 9pt">Luis Andr&eacute; Blanco</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 9pt">(Principal&nbsp;Financial Officer and Principal Accounting Officer)</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 9pt">/s/ Nicolau Carvalho Esteves</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 9pt">Director and Chairman</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">December 4, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Nicolau Carvalho Esteves</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 9pt">/s/ Felipe Samuel Argalji</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 9pt">Director</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">December 4, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Felipe Samuel Argalji</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 9pt">/s/ Daniel Arthur Borghi</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 9pt">Director</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">December 4, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Daniel Arthur Borghi</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 9pt">/s/ Laura Guaran&aacute; Carvalho</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 9pt">Director</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">December 4, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Laura Guaran&aacute; Carvalho</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 9pt">/s/ S&eacute;rgio Mendes Botrel Coutinho</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 9pt">Director </FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">December 4, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">S&eacute;rgio Mendes Botrel Coutinho</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 9pt">/s/ Daulins Emilio</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 9pt">Director</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">December 4, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Daulins Emilio</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 9pt">/s/ Renato Tavares Esteves</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 9pt">Director</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">December 4, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Renato Tavares Esteves</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 9pt">/s/ Jo&atilde;o Paulo Seibel de Faria</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 9pt">Director</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">December 4, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Jo&atilde;o Paulo Seibel de Faria</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 9pt">/s/ Vanessa Claro Lopes</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 9pt">Director</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">December 4, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Vanessa Claro Lopes</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 9pt">/s/ Fl&aacute;vio Dias</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 9pt">Director</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">December 4, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Fl&aacute;vio Dias</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 9pt">/s/Miguel Filisbino Pereira de Paula</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 9pt">Director</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">December 4, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Miguel Filisbino Pereira de Paula</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 9pt">/s/ Collen A. De Vries</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 9pt">Senior Vice President<BR>
on behalf of Cogency Global Inc.</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 9pt">December 4, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 9pt">Collen A. De Vries</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 9pt">Authorized representative in the United States</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: bold 9pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">&nbsp;</P>


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{"company-data": {"conformed-name": "Afya Ltd", "cik": "0001771007", "assigned-sic": "8200", "irs-number": "000000000", "state-of-incorporation": "E9", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-251147", "film-number": "201370369"}, "business-address": {"street1": "ALAMEDA OSCAR NIEMEYER, NO 119", "street2": "SALA 504 VILA DA SERRA", "city": "NOVA LIMA, MINAS GERAIS", "state": "D5", "zip": "00000", "phone": "55 (31) 3515 7500"}, "mail-address": {"street1": "ALAMEDA OSCAR NIEMEYER, NO 119", "street2": "SALA 504 VILA DA SERRA", "city": "NOVA LIMA, MINAS GERAIS", "state": "D5", "zip": "00000"}}
As filed with the Securities and Exchange
Commission on December 4, 2020
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
AFYA LIMITED
(Exact name of registrant as specified
in its charter)
The Cayman Islands
N/A
(State or other jurisdiction of incorporation or organization)
(IRS Employer Identification No.)
Alameda Oscar Niemeyer, No. 119,
        Sala 504, Zip Code 34.006-056
Vila da Serra, Nova Lima, Minas Gerais,
        Brazil
+55 (31) 3515 7550
(Address of Principal Executive Offices, including zip code)
Afya
Limited
L
ong-term Incentive Plan
(Full title of the plan)
Cogency Global Inc.
122 East 42nd Street, 18th Floor
New York, NY 10168
+1 (212) 947-7200
(Telephone number, including area code, of agent
for service)
Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions
of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging
growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
¨
Accelerated filer
x
Non-accelerated filer
¨
Smaller reporting company
¨
Emerging growth company
x
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided
pursuant to Section 7(a)(2)(B) of the Securities Act.
o
CALCULATION
OF REGISTRATION FEE
Title of securities to be registered
Amount to be
registered
(1)
Proposed maximum
offering price per
share
Proposed maximum
aggregate offering
price
Amount of
registration fee
Class A common shares, nominal value
US$0.00005 per common share
2,390,763
(2)
US$14.79
(3)
US$35,359,384.77
US$3,857.71
Class A common shares, nominal value
US$0.00005 per common share
66,090
(2)
US$19.17
(4)
US$1,266,945.30
US$138.22
Class A common shares, nominal value
US$0.00005 per common share
1,269,016
(5)
US$26.64
(5)
US$33,806,586.24
US$3,688.30
Total
3,725,869
-
US$70,432,916.31
US$7,684.23
(1)
This Registration Statement on Form S-8 (this "
Registration Statement
") covers Class A common shares,
par value US$0.00005 per share ("
Class A common shares
"), of Afya Limited (the "
Registrant
")
issuable under the Registrant's long-term incentive plan dated as of August 30, 2019, as amended on July 29, 2020 (the "
Plan
"). 
Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "
Securities Act
"), this
Registration Statement shall also covers an indeterminate number of additional Class A common shares that become issuable
under the Plan which may be offered and issued to prevent dilution resulting from adjustments as a result of share dividends,
share splits, reverse share splits, mergers, reorganizations, consolidations or other similar transactions.
(2)
Represents class A common shares of the Registrant issuable pursuant to options outstanding under the Plan.
(3)
Estimated in accordance with Rule 457(h) solely for the purpose of calculating the registration fee. The price of US$14.79 per
Class A common share represents the price in U.S. dollars of the weighted average exercise price for outstanding options granted
under the Plan with exercise prices in Brazilian
reais.
This weighted average exercise price is in Brazilian
reais
and has been set at R$76.36. For purposes of the calculation of the registration fee, such exercise prices in Brazilians
reais
have been converted to U.S. dollars using the December 3, 2020 selling exchange rate (US$1.00 – R$5.1625) published
by the Brazilian Central Bank (
Banco Central do Brasil
) on its website.
(4)
Estimated in accordance with Rule 457(h) solely for the purpose of calculating the registration fee. The price of US$19.17 per
Class A common share represents the weighted average in U.S. dollars of the exercise prices for outstanding options granted under
the Plan with exercise prices in U.S dollars.
(5)
These Class A common shares are reserved for future award grants under the Plan, and the corresponding proposed maximum offering
price per Class A common share (US$26.64), which is estimated solely for the purposes of calculating
the registration fee under Rule 457(h) and Rule 457(c), is based on the average of the high and low prices for the Registrant's
Class A common shares reported on the Nasdaq Global Select Market on
December 2, 2020.
PART I
INFORMATION REQUIRED IN THE
SECTION 10(a) PROSPECTUS
Item 1. Plan Information.
The information required by Item 1 of Part I
of Form S-8 is omitted from this Registration Statement in accordance with Rule 428 under the Securities Act and the introductory
note to Part I of Form S-8.  The documents containing the information specified in Part I will be delivered to the participants
in the Plan covered by this Registration Statement as required by Rule 428(b)(1).
Item 2. Registrant Information
and Employee Plan Annual Information.
The information required by Item 2 of Part I
of Form S-8 is omitted from this Registration Statement in accordance with Rule 428 under the Securities Act and the introductory
note to Part I of Form S-8.  The documents containing the information specified in Part I will be delivered
to the participants in the Plan covered by this Registration Statement as required by Rule 428(b)(1).
PART II
INFORMATION REQUIRED IN THE REGISTRATION
STATEMENT
Item 3.
Incorporation of Documents by Reference.
The following documents, which previously
have been filed with the U.S. Securities and Exchange Commission (the "
Commission
") by the Registrant are hereby
incorporated by reference in this Registration Statement:
(a)
The Registrant's annual report on Form 20-F filed with the Commission on April 20, 2020 (File No. 001-38992) (the "
2019 Form 20-F
"), which includes the Registrant's audited consolidated financial statements as of December 31, 2019 and 2018 and for the years ended December 31, 2019, 2018 and 2017;
(b)
All other reports filed by the Registrant pursuant to Section 13(a)
        or 15(d) of the Securities Exchange Act of 1934, as amended (the "
Exchange Act
") since December 31, 2019; and
(c)
The description of the Registrant's Class A common shares contained in the Registrant's 2019 Form 20-F;
In addition to the foregoing, all documents filed
by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (with respect to any Form 6-K, only to the
extent designated therein) after the date of this Registration Statement and prior to the filing of a post-effective amendment
to this Registration Statement, which indicates that all securities offered hereby have been sold or which deregisters all securities
then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from
the date of filing of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference
herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement
contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein
modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified
or superseded, to constitute a part of this Registration Statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Cayman Islands law does not limit the extent
to which a company's articles of association may provide for indemnification of directors and officers, except to the extent
that it may be held by the Cayman Islands courts to be contrary to public policy, such as providing indemnification against civil
fraud or the consequences of committing a crime.
The Registrant's Amended and Restated
Memorandum and Articles of Association provide that each director or officer of the Registrant shall be indemnified out of the
assets of the Registrant against all actions, proceedings, costs, charges, expenses, losses, damages, liabilities, judgments, fines,
settlements and other amounts (including reasonable attorneys' fees and expenses and amounts paid in settlement and costs
of investigation (collectively "Losses") incurred or sustained by such directors or officers, other than by reason
of such person's dishonesty, willful default or fraud, in or about the conduct of the Registrant's business or affairs
(including as a result of any mistake of judgment) or in the execution or discharge of such person's duties, powers, authorities
or discretions, including without prejudice to the generality of the foregoing, any Losses incurred by such director or officer
in defending or investigating (whether successfully or otherwise) any civil, criminal, investigative and administrative proceedings
concerning or in any way related to the Registrant or its affairs in any court whether in the Cayman Islands or elsewhere.
Also, the Registrant has entered, and intends
to continue to enter into indemnification agreements with its directors and officers that provide such persons with contractual
rights to indemnification as well as additional indemnification beyond that provided in the Registrant's Amended and Restated
Memorandum and Articles of Association.
Insofar as indemnification for liabilities arising
under the Securities Act may be permitted to directors, officers or persons controlling the Registrant under the foregoing provisions,
the Registrant has been informed that in the opinion of the Commission such indemnification is against public policy as expressed
in the Securities Act and is therefore unenforceable.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8.
Exhibits.
Exhibit
Number
Description of Document
4.1
Amended and Restated Memorandum and Articles of Association of the Registrant (incorporated by reference to Exhibit 3.1 of Amended No. 1 to Registration Statement on Form F-1 (File No. 333-232309) filed with the Commission on July 9, 2019
4.2*
English translation of Afya Limited long-term incentive plan dated as of August 30, 2019, as amended on July 29, 2020.
5.1*
Opinion of Maples
23.1*
Consent of Maples (included in Exhibit 5.1)
23.2*
Consent of Ernst & Young Auditores Independentes S.S., an independent registered public accounting firm
24.1*
Power of Attorney (included in the signature page to this Registration Statement)
*
Filed herewith
Item 9.  Undertakings.
(a)        
The undersigned Registrant hereby undertakes:
(1)        
To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i)            
To include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii)         
To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in this Registration Statement; and
(iii)      
To include any material information with respect to the Plan not previously disclosed in this Registration Statement or any material
change to such information in this Registration Statement;
provided
,
however
, that paragraphs (a)(1)(i) and
(a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or 15(d) of the
Exchange Act that are incorporated by reference in this Registration Statement.
(2)        
That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial
bona fide
offering thereof.
(3)        
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at
the termination of the offering.
(b)        
The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing
of the Registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable,
each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is
incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(c)         
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons
controlling the Registrant pursuant to the foregoing provisions, the Registrant has been advised that, in the opinion of the Commission
such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.  In the event
that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid
by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will,
unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed
by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the
Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing this Registration Statement on Form S-8 and has duly caused this Registration Statement to be signed on
its behalf by the undersigned, thereunto duly authorized, in Nova Lima, Brazil, on December 4, 2020.
Afya Limited
By:
/s/Virgilio Deloy Capobianco Gibbon
Name:
Virgilio Deloy Capobianco Gibbon
Title:
Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each
person whose signature appears below constitutes and appoints Virgilio Deloy Capobianco Gibbon and Luis André Blanco as
his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and
in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments)
to this Registration Statement and any and all additional registration statements and to file the same, with all exhibits thereto,
and all other documents in connection therewith, with the Commission, granting unto said attorneys-in-fact and agents, and each
of them, full power and authority to do and perform each and every act in person, hereby ratifying and confirming all that said
attorneys-in-fact and agents, or any of them, or their substitutes may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities
Act, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.
Signature
Title
Date
/s/ Virgilio Deloy Capobianco Gibbon
Chief Executive Officer
December 4, 2020
Virgilio Deloy Capobianco Gibbon
(Principal Executive Officer)
/s/ Luis André Blanco
Chief Financial Officer
December 4, 2020
Luis André Blanco
(Principal Financial Officer and Principal Accounting Officer)
/s/ Nicolau Carvalho Esteves
Director and Chairman
December 4, 2020
Nicolau Carvalho Esteves
/s/ Felipe Samuel Argalji
Director
December 4, 2020
Felipe Samuel Argalji
/s/ Daniel Arthur Borghi
Director
December 4, 2020
Daniel Arthur Borghi
/s/ Laura Guaraná Carvalho
Director
December 4, 2020
Laura Guaraná Carvalho
/s/ Sérgio Mendes Botrel Coutinho
Director
December 4, 2020
Sérgio Mendes Botrel Coutinho
/s/ Daulins Emilio
Director
December 4, 2020
Daulins Emilio
/s/ Renato Tavares Esteves
Director
December 4, 2020
Renato Tavares Esteves
/s/ João Paulo Seibel de Faria
Director
December 4, 2020
João Paulo Seibel de Faria
/s/ Vanessa Claro Lopes
Director
December 4, 2020
Vanessa Claro Lopes
/s/ Flávio Dias
Director
December 4, 2020
Flávio Dias
/s/Miguel Filisbino Pereira de Paula
Director
December 4, 2020
Miguel Filisbino Pereira de Paula
/s/ Collen A. De Vries
Senior Vice President
on behalf of Cogency Global Inc.
December 4, 2020
Collen A. De Vries
Authorized representative in the United States