Motiva S.A. - Results for the 2st quarter of 2026

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July 29, 2026 7:09 PM EDT

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SÃO PAULO, July 29, 2026 /PRNewswire/ -- Highlights

On April 2, 2026, the Share Purchase Agreement for Minas_SP (Fernão Dias) was signed, and operations began accordingly.
On May 8, 2026, the 26th Amendment to the Renovias concession agreement was signed, recognizing a balance of R$75 million (base date jul/25), in favor of the Company.
On May 11, 2026, the Modernization Amendment for Minas_SP was signed, extending the concession term by 15 years, in addition to applying the tariff step-up and the discount offered in the auction.
On June 30, 2026, an Amendment to the Renovias concession agreement was signed, resulting in the extension of the concession term until October 31, 2026.
Adjusted EBITDA increased by 30.1% in the period, with emphasis on the R$ 370 million contribution from Minas_SP, Paraná, Pantanal and Sorocabana in 2Q26.
Excluding the Airports Platform, Cash OPEX/LTM Adjusted Net Revenue reached 34.1% in 2Q26, down 3.7 p.p. compared to 2Q25.

Consolidated Operational and Financial Highlights

OPERATIONAL AND FINANCIAL HIGHLIGHTS (R$ MM)	2Q25	2Q26	Var.%	1H25	1H26	Var.%
Adjusted Net Revenue¹	3,006	3,631	20.8 %	6,152	6,958	13.1 %
Adjusted EBITDA¹	1,822	2,370	30.1 %	3,872	4,607	19.0 %
Adjusted EBITDA – Toll Roads	1,540	1,995	29.5 %	3,234	3,930	21.5 %
Adjusted EBITDA – Rails	582	696	19.6 %	1,158	1,284	10.9 %
Adjusted EBITDA – Others	(300)	(321)	7.0 %	(520)	(607)	16.7 %
Adjusted EBITDA Margin²	60.6 %	65.3 %	4.7 p.p.	62.9 %	66.2 %	3.3 p.p.
Adjusted Net Income¹	397	663	67.0 %	937	1.290	37.7 %
ROE³ LTM	13.9 %	21.6 %	7.7 p.p.	13.9 %	21.6 %	7.7 p.p.
ROIC³ LTM	9.5 %	9.0 %	-0.5 p.p.	9.5 %	9.0 %	-0.5 p.p.
Net Debt/LTM Adjusted EBITDA	3,6x	3,7x	0.1x	3,6x	3,7x	0.1x
Toll Roads - Equivalents Vehicle (million)	252.8	363.0	43.6 %	556.9	676.8	21.5 %
Rails - Transported Passengers (million)	188.9	192.3	1.8 %	369.7	377.3	2.0 %
Capex⁴	1,617	1,831	13.2 %	2,832	3,304	16.7 %

1.Excludes construction revenue and costs. Adjustments are described in the "non-recurring effects" section in Exhibit I I (page 25).
2. The Adjusted EBITDA Margin was calculated by dividing Adjusted EBITDA by Adjusted Net Revenue.
3. ROE = Net Income/Equity | ROIC = NOPAT (EBIT*1-effective rate) /Invested Capital (Equity + Gross Debt).
4. Includes improvement works that do not generate future economic benefits for ViaOeste.

\ Videoconference

Conference call in Portuguese with simultaneous translation into English:
July 30^th, 2026
10:00 a.m. São Paulo / 9:00 a.m. New York
Videoconference link:
https://motiva-br.zoom.us/webinar/register/WN_j5HTwJ6uR7WgY_x99AWNtQ#/

\ IR Contacts

Flávia Godoy: (+55 11) 3048-5900 - [email protected]

Douglas Ribeiro: (+55 11) 3048-5900 - [email protected]

Cauê Cunha: (+55 11) 3048-5900 - [email protected]

Caique Moraes: (+55 11) 3048-5900 - [email protected]

Ana Beatriz Bovo:(+55 11) 3048-5900 - [email protected]

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