Earnings release
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B 2Q26 Earnings Release VIDEO CONFERENCE August 7th , 2026 | Friday Portuguese 09:00 ( BRT ) | 08:00 ( EST ) With simultaneous translation to English Access to Zoom ALPARGATAS
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Message from Management Continuing our long transformation journey, we celebrate once again, concrete advances on several fronts that we have defined as priorities. The results recorded in 2Q26 consolidate the effectiveness of the initiatives implemented and the strategic decisions made along this trajectory. Alpargatas recorded an Adjusted EBITDA of R$286 million, with an EBITDA margin of 23.3%, the best result for a second quarter in our time series. We have been able to keep our brand stronger every day, which also translates into the resumption of our growth, both in Brazil and in the international market. This combination of sales growth with cost and expenses discipline has allowed us to achieve healthy and growing margins. More than celebrating the gains so far, we remain confident in our strategy and committed to ensuring that Alpargatas is well prepared to capture the opportunities ahead. The consolidated Havaianas operation reached R$1.2 billion in Net Sales, with a variation of 11% vs 2Q25. This growth reflects the 9% increase in the volume of pairs sold, totaling 46 million pairs in Brazil and 7.7 million in the international operation. In addition, the net sales per pair benefited from the improvement in the channel mix in Brazil and positive performance in our international operation, especially in Europe, where our recovery journey continues to evolve gradually, with a more adjusted execution. Gross Profit totaled R$691 million, an increase of 14.6% compared to the same period of the previous year, with a gross margin of 56.3%, an increase of 1.6 p.p. when compared to 2Q25, demonstrating the operational evolution observed in the period. The brand's consolidated EBITDA was R$283 million, an increase of 45% and a margin of 23%, +5.4 p.p. vs 2Q25. This quarter’s results reflect a recovery in production scale, sustained service levels above 80%, combined with a stronger end-to-end integration across planning, manufacturing, and commercial execution. Cash generation was R$74 million in the quarter or R$463 million over the last 12 months. For the second consecutive quarter, we reported financial leverage of 0.5x Net Debt/EBITDA. In the working capital dynamics, we recorded consumption of R$47 million in the quarter. On days of net sales, our cash cycle remained stable compared to 1Q26, and slightly higher than in 2Q25, due to a combination of lower inventories, offset by higher volume of receivables, especially in Europe. It is worth noting that these movements occurred without relevant changes in commercial policies with customers or in payment conditions to suppliers. In addition, this quarter, investment in the implementation of our priority projects totaled R$54 million, in line with the plan foreseen in the capital budget of R$243 million for the year. Havaianas Brazil In Brazil, after pulling forward volumes in the previous quarter to support the new collection launch, we captured the results of the adjustments made in channels’ dynamics, with a growth of 13% in sell-out. Volume totaled 46 million pairs in the quarter, representing a growth of 9% compared to 2Q25 and with gains of 2.1 p.p. of market share at the end of the quarter in the food channel. We remain focused on the balance of sell-in and sell- out, ensuring healthy inventory levels throughout the chain. In 2Q26, we posted 17% growth in Net Sales in Brazil, with a 7% increase in net sales per pair, explained by the better mix of channels and products. Gross Margin for the quarter was 48% and EBITDA Margin was 20%, once again achieving the highest margin levels ever recorded by the Company in a second quarter. This quarter, we increased marketing investments, totaling about 10% of Net Sales in Brazil, driven by the World Cup’s activations. It is worth mentioning that, although marketing investments represent an expansion of 3 p.p. compared to 2Q25, the last 12 months level totaled 8% of Net Sales, a level that we consider healthy for the brand in the Brazilian operation. Investments related to the World Cup are part of the brand's global calendar and reflect our strategy of maintaining a frequent and relevant connection with consumers, taking advantage of moments of great global mobilization and strong engagement of the Brazilian public. 2
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Message from Management Havaianas International The international operation continues on a path of scale recovery, focused on commercial discipline and operational efficiency. Net Sales for the quarter was R$406 million, reflecting 12% growth in pairs sold, compared to the same period of the previous year. In Europe, the adjustments implemented in recent years, both in commercial execution and in the service level, have been key to rebuilding our credibility with customers and ensuring the right product is available in the right channel. In 2Q26, 4.4 million pairs were sold, an increase of 21% compared to 2Q25. The sell-out of the period also showed a good pace of growth in the seasonally most important quarter for the operation of this geography. In United States, the transition to the new business model continues to advance at a good pace, with a relevant expansion of the sell-through, which represents sales from our distributor to retailers. Our sell-in volume decreased by 30% in the quarter, a reduction completely explained by the different seasonal profile brought about by the new business model, given that in 2Q25 we used to operate in the direct model in the American market. In the cumulative view of 1S26, which offers a more adequate basis for comparison, our sales volumes grew 40% compared to the same period of the previous year. The result of the U.S. operation in the first six months of this year interrupts a series of historic losses over many years, while surpassing previous volume records in the region, reinforcing our confidence that the new business model is leading us toward a healthier operation, with broader market reach and multiple growth opportunities. In 2Q26, in the markets in which we operate through distributors (IDM), in the APAC, MEA and Latin America regions, we resumed volume growth, with an expansion of 12% compared to the same period of the previous year, totaling 2.8 million pairs. In the quarter, strong volume growth in Latin America and Asia offset the impacts of geopolitical conflicts in the Middle East seen in some geographies. Havaianas International's consolidated Gross Margin reached 73%, an increase of 3 p.p. compared to 2Q25. This level of gross margins returns to the levels we had reached in 2Q21, when we had an operational scale 3.5 million pairs larger in the international market, demonstrating the structural evolution of the international operation’s profitability. This result highlights the profitability potential embedded in our business and reinforces the importance of continuing to scale our international operations. EBITDA from the international operation was R$117 million in the quarter, with an EBITDA margin of 29%, reflecting the combination of good commercial performance in Europe, the change in the business model in the United States, the discipline of expenses in all geographies and the commercial adjustments implemented. Rothy's In 2Q26, Rothy's Net Sales totaled US$61 million, a reduction of 3% compared to 2Q25, explained by the retraction in e-commerce sales volume. Gross Margin reached 67%, an expansion of 6 p.p. year-over-year, benefiting from a reimbursement by the U.S. government related to tariffs imposed on products imported from China in the prior year. As a result, quarterly EBITDA totaled US$6.5 million, which represents a reversal of the negative results registered last quarter, in which the Company had been impacted by store closures due to extreme weather conditions in the first months of the year and the United States tax on products imported from China. 3
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Message from Management Branding and Marketing Strategy In Marketing and Product, the quarter was marked by the 2026 FIFA World Cup, one of the main moments in the global Havaianas calendar this year. With the “Molho Brasileiro“ (Brazilian sauce) campaign, starring global ambassador Vini Jr., we reinforced the “Brazilianness” as one of the brand's main assets, connecting soccer, culture and the Brazilian way of life. The campaign gained scale both in Brazil and internationally, with emphasis on the United States, combining brand activations, presence at strategic points and a strong digital agenda. In Brazil, we also expanded the connection between communication and commercial execution through partnerships with important retailers, reinforcing our ability to translate moments of high cultural relevance into brand desire, engagement with consumers and commercial opportunities. In addition to the initiatives aimed at strengthening the brand, we also celebrated a successful collection launch, which demonstrated the strong adherence of the products launched to consumer demands and preferences. The period was also marked by initiatives such as the collab with Isabel Marant, expanding the presence of Havaianas in the international fashion universe, and the global activation around "The Devil Wears Prada", connecting the brand to one of the pop culture and fashion icons. It is important to note that the highest level of marketing investments recorded in the quarter is in line with the brand's calendar, which prioritizes moments of greater connection with consumers and potential for visibility, which may vary from one year to another. In Brazil, investments continued to sustain the brand's leadership and support the commercial operation in all channels. In the international operation, the strategy remains focused on the selectivity of investments, prioritizing markets, channels and initiatives with greater potential for return and contribution to the strengthening of the brand in the long term. Portfolio management discipline and the rationalization of product launches continue to be important pillars, allowing greater depth of distribution, better commercial execution and consistent evolution of the product mix, with emphasis on the male and child segments. Outlook We continue to move forward in 2026 with confidence in the defined strategy and in Alpargatas' ability to deliver consistent and sustainable results. The evolution observed in recent quarters reinforces the soundness of the choices made and allows us to look at the coming years from a stronger, more efficient, disciplined, and better- prepared position to capture the long-term growth opportunities of our business. In Brazil, we remain focused on sustainable expansion, preserving leadership in the food channel and continuously improving our execution in specialized channels. In the international environment, we remain attentive to the gradual recovery in volumes, the consolidation of the new business model in the United States and the brand strengthening across key geographies. The results achieved reinforce the resilience of our business model. The continued progress of our international operations, combined with greater geographic diversification of revenues and ongoing improvements in operational efficiency, contributes to a more consistent earnings profile over time. At the same time, the nature of our cost structure and our disciplined business management practices reduce the Company's sensitivity to short-term external fluctuations, allowing us to remain focused on executing our strategy and delivering long-term value to shareholders. And so, we are confident in our ability to build the next chapter of Alpargatas' history. A chapter that proposes to appropriate the advances implemented throughout this journey, while seeking innovation and connection with consumer trends around the world. With a clear strategy, solid results and discipline in the execution and resource allocation, we will continue to prepare ourselves to capture the opportunities ahead of us, strengthening our core business and expanding, in a sustainable way, the global relevance of Havaianas. 4
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Alpargatas 2Q26 Result Havaianas International Volume 8 million vs. 7 million in 2Q25 Havaianas Brazil Volume 46 million pairs vs. 42 million in 2Q25 Net Sales R$ 1.2 billion vs. R$1.1 billion in 2Q25 Gross Profit R$ 691 million vs. R$603 million in 2Q25 Gross Margin 56.3% vs. 54.7% in 2Q25 Adjusted EBITDA R$ 286 million vs. R$ 193 million in 2Q25 Adjusted EBITDA Margin 23.3% vs. 17.5% in 2Q25 Net Income R$ 170 million vs. R$ 87 million in 2Q25 Operational and Financial Indicators (million pairs) 2Q26 2Q25 2Q26 vs. 2Q25 1S26 1S25 1S26 vs. 1S25 Volume 53.3 48.8 +9.0% 114.7 105.6 +8.7% Havaianas Brazil 45.6 42.0 +8.6% 100.4 92.9 +8.1% Havaianas International 7.7 6.9 +11.9% 14.3 12.7 +13.2% Europe 4.4 3.6 +20.9% 7.9 6.6 +19.6% USA 0.6 0.8 -30.0% 1.8 1.2 +40.2% IDM 2.8 2.5 +12.1% 4.7 4.8 -2.3% (R$ million) 2Q26 2Q25 2Q26 vs. 2Q25 1S26 1S25 1S26 vs. 1S25 (=) Net Sales 1,226.4 1,101.4 +11.3% 2,455.8 2,193.8 +11.9% Havaianas 1,215.0 1,090.3 +11.4% 2,431.7 2,172.2 +11.9% Other 11.3 11.0 +2.5% 24.1 21.7 +11.4% (-) COGS (535.5) (498.6) +7.4% (1,118.1) (1,030.6) +8.5% Havaianas (532.2) (497.4) +7.0% (1,108.8) (1,026.7) +8.0% Other (3.3) (1.2) +185.1% (9.3) (3.9) +140.1% (=) Gross Profit 690.8 602.8 +14.6% 1,337.7 1,163.3 +15.0% Havaianas 682.9 592.9 +15.2% 1,322.9 1,145.5 +15.5% Other 8.0 9.9 -19.1% 14.8 17.8 -16.8% Gross Margin (%) 56.3% 54.7% +1.6pp 54.5% 53.0% +1.4pp Havaianas (%) 56.2% 54.4% +1.8pp 54.4% 52.7% +1.7pp Other (%) 70.5% 89.4% -18.9pp 61.3% 82.1% -20.7pp (=) EBITDA 269.1 174.7 +54.1% 555.4 369.0 +50.5% Havaianas 283.1 195.4 +44.9% 582.7 402.3 +44.9% Other (14.1) (20.8) -32.2% (27.4) (33.3) -17.7% EBITDA Margin (%) 21.9% 15.9% +6.1pp 22.6% 16.8% +5.8pp Havaianas EBITDA Margin (%) 23.3% 17.9% +5.4pp 24.0% 18.5% +5.4pp Other EBITDA Margin (%) -124.4% -188.3% +63.9pp -113.6% -153.6% +40.1pp (+) Extraordinary Items 16.9 17.9 -5.7% 30.2 29.6 +1.9% (=) Adjusted EBITDA 286.0 192.6 +48.5% 585.5 398.6 +46.9% Adjusted EBITDA Margin (%) 23.3% 17.5% +5.8pp 23.8% 18.2% +5.7pp (=) Net Income 169.7 87.0 +95.1% 332.5 199.4 +66.8% Net Margin (%) 13.8% 7.9% +5.9pp 13.5% 9.1% +4.5pp 5
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46,9 46,0 37,1 44,2 42,0 45,6 -2% -19% 19% -5% 9% 2T21 2T22 2T23 2T24 2T25 2T26 Volume de Pares Vendidos (milhões) Crescimento (%) YoY Volume (million pairs) The Company ended 2Q26 with a 9.0% growth in the volume of pairs sold versus 2Q25, reflecting the positive performance of both domestic and international operations. In Havaianas Brazil operation, 45.6 million pairs were sold in 2Q26, representing an increase of 8.6% compared to 2Q25. Sell-out grew 13% in the same period analyzed. We remain focused on the balance between sell-in and sell-out seeking a healthy inventory balance across the chain. In the last twelve months, we registered 2.4 million more pairs in the chain, a stock considered normalized for the operation. In the period, the food operation market share totaled 79.7%, representing a gain of 2.1p.p. in the annual comparison, with good performance in both the modern and traditional channels. In Havaianas International operation, volume increased 11.9%, totaling 7.7 million pairs, distributed as follows: (i) 4.4 million in Europe (+20.9%); (ii) 2.8 million in IDM (+12.1%); and (iii) 0.6 million in the US (-30%). In Europe, sales maintained positive trend for the third consecutive quarter, totaling 4.4 million pairs. This is the quarter with the highest seasonality, due to the summer, and reflects the good execution performance in the region. In the quarter, the Distributor Markets (IDM) operation grew 12.1% in volume sold compared to 2Q25. The positive result reflects the good performances in Latam and Asia, offsetting the impacts of geopolitical conflicts in the Middle East observed in some geographies. Finally, in the United States operation, the sell-in volume decreased by 30% in the quarter, a reduction completely explained by the different seasonal profile brought about by the new business model. However, in the cumulative view of 1S26, which offers a more adequate basis for comparison, registered sales volumes 40% higher compared to 1S25. (million pairs) 2Q26 2Q25 2Q26 vs. 2Q25 1S26 1S25 1S26 vs. 1S25 Volume 53.3 48.8 +9.0% 114.7 105.6 +8.7% Havaianas Brazil 45.6 42.0 +8.6% 100.4 92.9 +8.1% Havaianas International 7.7 6.9 +11.9% 14.3 12.7 +13.2% Europe 4.4 3.6 +20.9% 7.9 6.6 +19.6% USA 0.6 0.8 -30.0% 1.8 1.2 +40.2% IDM 2.8 2.5 +12.1% 4.7 4.8 -2.3% Havaianas Brazil Volume (million pairs) Havaianas International Volume (million pairs) 4,8 5,0 4,2 3,4 3,6 4,4 1,1 0,7 0,6 0,6 0,8 0,6 5,3 4,9 3,0 3,6 2,5 2,8 11,2 10,6 7,8 7,6 6,9 7,7 -5% -27% -2% -10% 12% 2Q21 2Q22 2Q23 2Q24 2Q25 2Q26 Volume Europe Volume US Volume IDM Growth (%) YoY 6
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Net Sales (R$ million) In the quarter, consolidated Net Sales totaled R$ 1.2 billion, representing an increase of 11.3% versus 2Q25. In Havaianas Brazil, Net Sales for the quarter reached R$ 809.2 million, growth of 16.7% y/y. The result continues to be driven by the better product mix across all channels. In the Havaianas International operation, Net Sales for the quarter reached R$ 405.8 million, with growth of 2.3% y/y. This growth reflects successful execution during the quarter of higher seasonality in Europe, as well as good performances in Latin America and Asia in the period. (R$ million) 2Q26 2Q25 2Q26 vs. 2Q25 1S26 1S25 1S26 vs. 1S25 (=) Net Sales 1,226.4 1,101.4 +11.3% 2,455.8 2,193.8 +11.9% Havaianas Net Sales 1,215.0 1,090.3 +11.4% 2,431.7 2,172.2 +11.9% Brazil 809.2 693.7 +16.7% 1,718.3 1,496.6 +14.8% International 405.8 396.6 +2.3% 713.4 675.6 +5.6% Europe 308.5 255.8 +20.6% 512.3 433.1 +18.3% USA 22.1 66.8 -66.9% 72.6 108.0 -32.8% IDM 75.2 74.1 +1.5% 128.4 134.6 -4.5% Other Net Sales 11.3 11.0 +2.5% 24.1 21.7 +11.4% Havaianas Brazil Net Sales (R$ million & R$/pair) 520 617 539 655 694 809 11,1 13,4 14,5 14,8 16,5 17,8 2Q21 2Q22 2Q23 2Q24 2Q25 2Q26 Brazil Net Sales NS/Pair 311 269 261 217 256 309 70 50 43 47 67 22 136 115 76 88 74 75 516 433 380 351 397 406 46,0 40,8 48,8 46,1 57,6 52,7 2Q21 2Q22 2Q23 2Q24 2Q25 2Q26 Europe US IDM NS/Pair Int Havaianas International Net Sales (R$ million & R$/pair) 7
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COGS (R$ million) In 2Q26, COGS totaled R$535.5 million, representing a growth of 7.4% compared to 2Q25. In Havaianas Brazil, COGS totaled R$422.0 million in the quarter, representing an increase of 12.0% compared to 2Q25. Cost per pair increased by 3.1% y/y, explained by the mix of products and channels. In Havaianas International operation, COGS totaled R$ 110.2 million, a reduction of 8.6% compared to 2Q25. This variation is mainly explained by 18.3% reduction in COGS per pair compared to the same period of the previous year, mainly related by the gain in scale in Europe and the positive effect of the exchange rate variation, in addition to the reduction of costs related to distribution in the United States operation. (R$ million) 2Q26 2Q25 2Q26 vs. 2Q25 1S26 1S25 1S26 vs. 1S25 COGS (535.5) (498.6) +7.4% (1,118.1) (1,030.6) +8.5% Havaianas COGS (532.2) (497.4) +7.0% (1,108.8) (1,026.7) +8.0% Brazil (422.0) (376.9) +12.0% (881.2) (807.9) +9.1% International (110.2) (120.5) -8.6% (227.6) (218.7) +4.0% Other COGS (3.3) (1.2) +185.1% (9.3) (3.9) +140.1% 138 131 150 133 121 110 12,3 12,3 19,3 17,5 17,5 14,3 2Q21 2Q22 2Q23 2Q24 2Q25 2Q26 COGS COGS / Pair Havaianas International COGS (R$ million & R$/pair) 321 369 390 399 377 422 6,8 8,0 10,5 9,0 9,0 9,3 2Q21 2Q22 2Q23 2Q24 2Q25 2Q26 COGS COGS / Pair Havaianas Brazil COGS (R$ million & R$/pair) 8
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In the quarter, Gross Profit totaled R$ 690.8 million, an increase of 14.6% compared to 2Q25 and the highest gross profit ever recorded by the Company. The Gross Margin of 56.3% shows the continuity of the Company's operational improvement, the product mix evolution and the good performance of the international operation, resulting in a gain of 1.6 p.p. in the consolidated gross margin, compared to 2Q25. The dynamics between the operations are detailed below: Gross Profit (R$ million) and Gross Margin (%) In the Brazilian Operation, Gross Profit totaled R$ 387.2 million in the quarter, representing an increase of 22.2% compared to 2Q25, while Gross Margin reached a record level between the second quarters, reaching 47.9%. The 2Q26 result maintains the trend observed over the last few periods, with an increase in the average price per pair driven by the product mix. (R$ million) 2Q26 2Q25 2Q26 vs. 2Q25 1S26 1S25 1S26 vs. 1S25 (=) Gross Profit 690.8 602.8 +14.6% 1,337.7 1,163.3 +15.0% Havaianas Gross Profit 682.9 592.9 +15.2% 1,322.9 1,145.5 +15.5% Brazil 387.2 316.8 +22.2% 837.1 688.6 +21.6% International 295.6 276.1 +7.1% 485.8 456.9 +6.3% Other Gross Profit 8.0 9.9 -19.1% 14.8 17.8 -16.8% Gross Margin (%) 56.3% 54.7% +1.6pp 54.5% 53.0% +1.4pp Havaianas Gross Margin (%) 56.2% 54.4% +1.8pp 54.4% 52.7% +1.7pp Brazil Gross Margin (%) 47.9% 45.7% +2.2pp 48.7% 46.0% +2.7pp International Gross Margin (%) 72.8% 69.6% +3.2pp 68.1% 67.6% +0.5pp Other Gross Margin(%) 70.5% 89.4% -18.9pp 61.3% 82.1% -20.7pp Gross Profit / Pair Havaianas Brazil Gross Profit & Margin (R$ million, R$/pair & %) 199 248 148 256 317 387 4,2 5,4 4,0 5,8 7,5 8,5 38% 40% 28% 39% 46% 48% 2Q21 2Q22 2Q23 2Q24 2Q25 2Q26 Gross Profit Gross Margin 9
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Gross Profit (R$ million) and Gross Margin (%) In this quarter, International Operation recorded a Gross Profit of R$ 295.6 million, representing a growth of 7.1% compared to the same period of the previous year. Gross Margin totaled 72.8%, returning to the same level as of 2021. This performance reflects the resumption of execution in the European operation and sales recovery in the Distributor Markets (MDI), more than offsetting the effect of the change in the business model in the United States, which naturally has effects on the product's gross margin. Gross Profit / Pair Havaianas International Gross Profit & Margin (R$ million, R$/pair & %) 378 303 230 218 276 296 33,6 28,5 29,5 28,6 40,1 38,4 73% 70% 61% 62% 70% 73% 2Q21 2Q22 2Q23 2Q24 2Q25 2Q26 Gross Profit Gross Margin (%) 10
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SG&A (R$ million) In 2Q26, Alpargatas' Operating Expenses totaled R$ 482.3 million, representing a reduction of 2.9% compared to 2Q25. Considering only recurring operating expenses, excluding extraordinary items, the amount reached R$465.4 million, a reduction of 2.8% year-over-year. In addition, expenses represented a decrease of 5.5p.p. as a percentage of net sales, reflecting operating leverage gains, particularly in the international operation, as well as greater discipline in expense allocation throughout the period. In Havaianas Brazil, annual expenses totaled R$276.3 million in 2Q26, an increase of 16.5% year- over-year and the maintenance of expenses as a percentage of net sales. This nominal increase is mainly explained by investments in marketing during this period, taking advantage of the engagement of the Brazilian public throughout FIFA World Cup event, in addition to the launch of exclusive collabs in the period. As already noted, marketing expenses tend to show greater volatility over the quarters, but in the consolidated of the year, it should not represent a positive or negative structural impact on the level of expenses as a percentage of net sales. In International Operation, operating expenses totaled R$196.0 million in the quarter, a reduction of 18.7% compared to 2Q25, corresponding to a decrease of 12.5p.p. as a percentage of net sales. As in the first quarter, the change in the business model in the United States contributed to the reduction of operating expenses, due to the leaner nature of the structure. (R$ million) 2Q26 2Q25 2Q26 vs. 2Q25 1S26 1S25 1S26 vs. 1S25 (-) Operating Expenses (482.3) (496.5) -2.9% (904.0) (925.3) -2.3% Sales (376.2) (362.4) +3.8% (687.2) (691.2) -0.6% Havaianas (361.3) (349.7) +3.3% (660.5) (667.0) -1.0% Others (14.9) (12.7) +17.1% (26.7) (24.3) +10.2% General and administrative (77.1) (63.8) +20.8% (148.7) (134.1) +10.9% Havaianas (76.5) (62.6) +22.2% (148.9) (125.9) +18.3% Others (0.6) (1.2) -54.0% 0.2 (8.2) -103.0% Other operating income (expenses). net (29.1) (70.3) -58.7% (68.2) (100.1) -31.9% Havaianas (34.5) (66.1) -47.9% (77.3) (107.3) -28.0% Others 5.4 (4.2) -228.5% 9.1 7.3 +25.7% (+) Extraordinary Items 16.9 17.9 -5.7% 30.2 29.6 +1.9% M&A expenses 2.0 0.1 - 2.0 0.3 - Simplification expenses 14.9 15.0 -0.1% 28.3 25.3 +11.7% Other expenses / revenues 0.0 2.9 -99.3% (0.1) 4.0 -101.5% Operating Expenses excluding Extraordinary Items (465.4) (478.6) -2.8% (873.9) (895.7) -2.4% Operating Expenses excluding Extraordinary Items (% RL) 38.0% 43.5% -5.5pp 35.6% 40.8% -5.2pp 11
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EBITDA and EBITDA Margin (R$ million) (R$ million) 2Q26 2Q25 2Q26 vs. 2Q25 1S26 1S25 1S26 vs. 1S25 (=) Gross Profit 690.8 602.8 +14.6% 1,337.7 1,163.3 +15.0% Gross Margin (%) 56.3% 54.7% +1.6pp 54.5% 53.0% +1.4pp (-) Operating Expenses (482.3) (496.5) -2.9% (904.0) (925.3) -2.3% (+) D&A (60.6) (68.4) -11.5% (121.7) (131.0) -7.1% (=) EBITDA 269.1 174.7 +54.1% 555.4 369.0 +50.5% Havaianas 283.1 195.4 +44.9% 582.7 402.3 +44.9% Brazil 165.7 138.2 +19.9% 403.1 312.0 +29.2% International 117.4 57.2 +105.2% 179.6 90.2 +99.1% Other (14.1) (20.8) -32.2% (27.4) (33.3) -17.7% EBITDA Margin (%) 21.9% 15.9% +6.1pp 22.6% 16.8% +5.8pp EBITDA Margin Havaianas (%) 23.3% 17.9% +5.4pp 24.0% 18.5% +5.4pp EBITDA Margin Brazil (%) 20.5% 19.9% +0.6pp 23.5% 20.9% +2.6pp EBITDA Margin International (%) 28.9% 14.4% +14.5pp 25.2% 13.4% +11.8pp EBITDA Margin Others (%) -124.4% -188.3% +63.9pp -113.6% -153.6% +40.1pp (+) Extraordinary Items 16.9 17.9 -5.7% 30.2 29.6 +1.9% (=) Adjusted EBITDA 286.0 192.6 +48.5% 585.5 398.6 +46.9% Adjusted EBITDA Margin (%) 23.3% 17.5% +5.8pp 23.8% 18.2% +5.7pp In 2Q26, Alpargatas' adjusted EBITDA reached R$ 286.0 million, with a margin of 23.3%, representing an expansion of 5.8p.p. compared to 2Q25. The year-over-year growth reflects Alpargatas' consistent operational evolution, supported by Net Sales growth and gains in cost and expense efficiencies. In Havaianas Brazil, EBITDA reached R$ 165.7 million in the quarter, representing a growth of 19.9% compared to 2Q25 and being the highest EBITDA ever recorded for a second quarter. The EBITDA margin also expanded by 0.6p.p., totaling 20.5%. This margin advance mainly reflects the 2.2p.p. expansion in gross margin, partially offset by the negative impact of higher marketing investment in the period. In Havaianas International, EBITDA for the quarter was R$117.4 million, an increase of 105.2% compared to 2Q25, with a margin of 28.9%, representing an expansion of 14.5p.p. compared to 2Q25. This increase in margin is explained by the increase in gross margin by 3.2p.p., in addition to the reduction in expenses of all kinds, which together, contributed positively by 11.3p.p., mainly explained by the change in the business model in the United States. 57 93 -5 73 138 16611% 15% -1% 11% 20% 20% 2Q21 2Q22 2Q23 2Q24 2Q25 2Q26 EBITDA EBITDA Margin EBITDA and EBITDA Margin Brazil (in R$ million and % of net sales) EBITDA and International EBITDA Margin (in R$ million and % of net sales) 155 85 12 -4 57 117 30% 20% 3% -1% 14% 29% 2Q21 2Q22 2Q23 2Q24 2Q25 2Q26 EBITDA EBITDA Margin 12
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Net Income (R$ million) EBITDA Reconciliation* (R$ million) According to CVM Nº 156/22 (R$ million) 2Q26 2Q25 2Q26 vs. 2Q25 1S26 1S25 1S26 vs. 1S25 (=) EBIT 208.5 106.2 +96.2% 433.7 238.0 +82.2% (+) Financial Result (16.5) (15.4) +7.7% (41.6) (36.1) +15.3% Financial income 26.4 31.8 -16.9% 77.3 65.5 +18.0% Financial expenses (47.1) (37.5) +25.5% (92.5) (80.2) +15.2% Exchange variation 4.1 (9.6) -142.6% (26.5) (21.4) +23.7% (=) EBT 192.0 90.9 +111.2% 392.0 201.9 +94.2% (-) Income Tax / Social Contribution (25.5) (16.3) +57.0% (48.0) (8.1) +489.8% (+) Equity Income 3.2 12.3 -73.8% (11.6) 5.6 -305.2% (=) Alpargatas Net income 169.7 87.0 +95.1% 332.5 199.4 +66.8% (R$ million) 2Q26 2Q25 2Q26 vs. 2Q25 1S26 1S25 1S26 vs. 1S25 (=) Net income 169.7 87.0 +95.1% 332.5 199.4 +66.8% (-) Income Tax / Social Contribution 25.5 16.3 +57.0% 48.0 8.1 +489.8% (+) Financial result 16.5 15.4 +7.7% 41.6 36.1 +15.3% (+) D&A 60.6 68.4 -11.5% 121.7 131.0 -7.1% (+) Equity income (3.2) (12.3) -73.8% 11.6 (5.6) -305.2% (=) EBITDA 269.1 174.7 +54.1% 555.4 369.0 +50.5% (+) Extraordinary Items 16.9 17.9 -5.7% 30.2 29.6 +1.9% (=) Adjusted EBITDA 286.0 192.6 +48.5% 585.5 398.6 +46.9% Adjusted EBITDA Margin (%) 23.3% 17.5% +5.8pp 23.8% 18.2% +5.7pp * EBITDA is a non-GAAP measure prepared by the Company in accordance with CVM Resolution No. 156/22. EBITDA corresponds to the Company’s net income plus net financial result, income tax and social contribution, and depreciation and amortization expenses. Adjusted EBITDA, in turn, consists of consolidated EBITDA adjusted for non-recurring items. In management’s view, these adjustments allow for a more appropriate presentation of the Company’s cash generation potential by excluding extraordinary events. Extraordinary items refer to: (i) M&A expenses related to consulting and legal services, whether for ongoing discussions or monitoring of processes; (ii) expenses associated with the simplification of the Company’s organizational, industrial, or commercial structure; and (iii) other expenses/income also considered non-recurring for the period and not allocated to other classifications. These expenses are included in the Company’s financial statements and were extracted from the Operating Expenses line item. Alpargatas’ Net Income in the quarter was R$ 169.7 million, representing a growth of 95.1% compared to 2Q25. Net financial result was negative by R$16.5 million in the period, in line with the same period of the previous year and with financial expenses appearing as the main driver, due to debt increase. Equity income declined by 73.8%, reaching a result of R$ 3.2 million in the quarter, mainly explained by: i. the recognition of 48.8% of Rothy's recurring income in the period, lower than that observed in 2Q25; and ii. the effects of amortization of asset fair value adjustments, in the amount of R$3.7 million in the quarter. 13
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Inventories The Company recorded a cash consumption of R$ 47.2 million related to the variation in core working capital accounts in the quarter. The changes are explained by: i. An increase of R$40.7 million in inventories versus 1Q26, explained by production seasonality. Compared to 2Q25, the inventory balance decreased by R$38.9 million, mainly in finished products, explained by the positive sales performance in the period. The amount of inventory in days of net sales decreased by 10 days. ii. Increase of R$42.4 million in accounts receivable vs. 1Q26, stable on days of net sales. Compared to 2Q25, the balance of receivables grew by R$285.5 million, mainly due to sales increase in Europe. iii. Increase of R$35.9 million in the balance of suppliers vs. 1Q26. Compared to 2Q25, the balance of suppliers remains practically stable. It is worth noting that the working capital dynamics presented by the Company in 2Q26 reflect the evolution of operations, as well as the strong commercial momentum. ¹In the Forfait operation, suppliers transfer the right to receive securities to the bank in exchange for the early receipt of the security. The bank then becomes the creditor of the operation, and Alpargatas settles the security on the originally agreed date with its supplier, without changing the terms, prices, and conditions previously established with the supplier. This operation does not generate financial expenses for Alpargatas. Accounts Receivable Accounts Payable (R$ million) 2Q25 3Q25 4Q25 1Q26 2Q26 ∆ 2Q25 ∆ 1Q26 Inventories 868.8 802.8 760.1 789.2 829.9 -38.9 +40.7 in days of NS 73 66 61 61 63 -10 +1 Finished goods 494.6 475.1 422.8 424.9 453.5 -41.2 +28.5 in days of NS 41 39 34 33 34 -7 +1 Products in process 30.0 30.4 34.7 35.1 34.9 4.9 -0.2 in days of NS 3 3 3 3 3 0 0 Raw material and others 344.2 297.3 302.6 329.2 341.6 -2.7 +12.4 in days of NS 29 24 24 26 26 -3 0 (R$ million) 2Q25 3Q25 4Q25 1Q26 2Q26 ∆ 2Q25 ∆ 1Q26 Accounts receivable 988.3 961.1 1,189.6 1,231.4 1,273.8 +285.5 +42.4 in days of NS 83 79 95 96 96 +13 +1 (R$ million) 2Q25 3Q25 4Q25 1Q26 2Q26 ∆ 2Q25 ∆ 1Q26 Total Suppliers 625.4 526.2 600.4 593.5 629.4 +4.0 +35.9 in days of NS 52 43 48 46 48 -5 +2 Suppliers 488.0 392.5 442.3 460.1 493.4 +5.4 +33.4 Forfaiting1 137.3 133.7 158.1 133.5 135.9 -1.4 +2.5 Working capital (R$ million and days of Net Sales*) Note: Net Sales for the last twelve months 14
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6 8 12 20 6 11 10 10 15 233 10 25 44 19 37 40 60 13 23 6 3 10 13 2 7 5 15 8 15 20 47 77 27 55 56 84 28 54 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Growth Sustain Cost Net financial position (R$ million) For 2026, the management's proposal for investments in the Company amounts to R$ 243 million, allocated across projects aimed at optimization, growth or sustaining our operations. In this quarter, R$ 54.1 million was invested, divided into: i. R$ 23.2 million allocated to projects focused on growth; ii. R$ 23.0 million allocated to projects focused on sustaining the business; and iii. R$ 7.9 million allocated to projects aimed at optimizing the Company's business. The Company ended the quarter with a negative net financial position of R$532.2 million, an increase of R$67.9 million, compared to the net financial position recorded at the end of 1Q26. In the quarter, EBITDA of R$286.0 million was the main responsible for operating cash generation. On the other hand, the net financial position was impacted by the payment of R$106 million in IOE (equivalent to R$91 million net of taxes), approved in December 2025 and effective in May 2026, and by the disbursement of R$64 million related to the settlement portion of the acquisition of Ioasys carried out in 2021. In addition, the Company recorded consumption of R$47 million in the main working capital accounts (inventories, accounts receivable and accounts payable), as previously detailed. Finally, the second quarter is traditionally marked by the payment of bonuses to employees, which also contributed to the negative net financial position of R$532 million in the period. CAPEX (R$ million) Adjusted EBITDA WK and Others NFP Mar26 Financial Result (cash) FX Shareholder Remuneration NFP Jun26IR/CSLL M&A (Payment Ioasys) 15
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7% 18% 2Q25¹ LTM 2Q26 LTM 424,9 841,0 Indebtedness and Leverage (R$ million) Return on Invested Capital (ROIC) ROIC* reached 18.0% in 2Q26 LTM, an increase of 11.0 p.p. vs. 2Q25 LTM. 2Q26 (R$ million) 2Q26 2Q25 Loans and Financing 1,265.9 684.6 Short Term 424.9 264.5 Long Term 841.0 420.1 Financial instruments – fair value hedge (LT) - Cash and Investments 733.7 878.6 Cash and cash equivalentes 200.3 188.6 Short Term 517.4 676.0 Long Term 16.0 14.0 Net Debt 532.2 (194.0) Adjusted EBITDA (LTM) 1,052.5 571.5 Net Debt/Adjusted EBITDA 0.5 (0.3) +11 p.p. ST LT * Calculation methodology : Net Operating Profit After Taxes (NOPAT) over the last twelve months, divided by the average invested capital over the same period (net debt and shareholders’ equity). 1 The ROIC calculation methodology was revised in this quarter and now includes non-recurring items in the composition of net operating profit. 16
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Rothy's (USD million) 2Q26 2Q25 2Q26 vs. 2Q25 1S26 1S25 1S26 vs. 1S25 (=) Net Sales 61.2 63.0 -2.9% 108.0 106.4 +1.5% (-) COGS (20.2) (24.4) -17.1% (40.6) (41.0) -0.9% (=) Gross profit 41.0 38.6 +6.0% 67.3 65.4 +2.9% Gross margin (%) 67.0% 61.3% +5.7pp 62.4% 61.5% +0.9pp (-) Operating Expenses (34.4) (30.8) +11.9% (63.0) (56.8) +11.0% (-) D&A (3.6) (3.0) +19.0% (6.7) (5.6) +18.4% (=) Operational Result 3.0 4.9 -39.1% (2.3) 3.1 -175.0% (=) EBITDA 6.5 7.9 -17.0% 4.4 8.7 -49.7% EBITDA Margin (%) 10.7% 12.5% -1.8pp 4.1% 8.2% -4.1pp (+) Financial Result 1.2 1.6 -24.2% 2.9 3.1 -5.5% (-) Income Tax / Social Contribution (1.3) (0.6) +127.5% (0.1) (0.6) -87.1% (=) Net Income 2.9 5.9 -51.5% 0.6 5.5 -89.9% Net margin (%) 4.7% 9.4% -4.7pp 0.5% 5.2% -4.7pp Stores 39 29 +10 39 29 +10 Same Store Sales -5.0% -2.0% -3.0pp -2.0% -2.0% - Contribution of brick and mortar stores (%) 27.0% 22.2% +4.8pp 24.4% 20.2% +4.2pp Contribution of recurring customers (%) 54.2% 43.7% +10.5pp 55.4% 42.4% +13.0pp Marketing + Store Expenses (US$ millions) 20.6 17.8 +15.5% 35.6 31.1 +14.5% Rothy’s recorded Net Sales of US$61.2 million, a decrease of 2.9% compared to the same period of the previous year, mainly explained by the retraction in online sales, as an effect of the strategy to reduce the channel's dependence over discounts, which was partially offset by the performance of the company- owned stores, supported by the addition of 10 new stores over the last 12 months, as well as the opening of new wholesale doors. Gross Profit totaled USD 41.0 million in the period, an increase of 6.0% and gross margin of 67%, an increase of 5.7 p.p. compared to 2Q25. The margin benefited primarily from the reimbursement made by the U.S. government regarding tariffs imposed on products imported from China last year, as well as from the higher volume share of full-price sales. Operating Expenses registered US$34.4 million in 2Q26, an increase of 11.9% compared to 2Q25. This variation is mainly explained by the expenses of new stores, as well as by the increase in personnel expenses in the period. As a result, Rothy's recorded quarterly EBITDA of US$6.5 million, a reduction of 17.0% y/y and a margin of 10.7%, a reduction of 1.8 p.p. when compared to 2Q25. Net Income totaled USD2.9 million in the period, with a net margin of 4.7%, a reduction of 4.7p.p. compared to 2Q25. Alpargatas S.A. holds 48.8% of Rothy’s share capital; therefore, its financial statements are not consolidated into the Company’s financial statements. The financial information related to Rothy’s presented herein has been extracted from Rothy’s standalone audited financial statements and corresponds to 100% of the business. 17
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18 APPENDIX
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Havaianas 19 Brazil Results (R$ million, % of net sales and million pairs) International Results (R$ million, % of net sales and million pairs) (R$ million | million pairs) 2Q26 2Q26 2Q26 vs. 2Q25 1S26 1S25 1S26 vs. 1S25 Volume 45.6 42.0 +8.6% 100.4 92.9 +8.1% Net Sales 809.2 693.7 +16.7% 1,718.3 1,496.6 +14.8% COGS 422.0 376.9 +12.0% 881.2 807.9 +9.1% Gross Profit 387.2 316.8 +22.2% 837.1 688.6 +21.6% Gross margin (%) 47.9% 45.7% +2.2pp 48.7% 46.0% +2.7pp Operating Expenses 221.5 178.6 +24.0% 434.0 376.6 +15.3% EBITDA 165.7 138.2 +19.9% 403.1 312.0 +29.2% EBITDA Margin (%) 20.5% 19.9% +0.6pp 23.5% 20.9% +2.6pp (R$ / pair) 2Q26 2Q26 2Q26 vs. 2Q25 1S26 1S25 1S26 vs. 1S25 Net Sales / pair 17.76 16.53 +7.5% 17.11 16.10 +6.3% COGS / pair 9.26 8.98 +3.1% 8.78 8.69 +0.9% Gross Profit / pair 8.50 7.55 +12.6% 8.34 7.41 +12.5% Operating Expenses / pair 4.86 4.26 +14.2% 4.32 4.05 +6.7% EBITDA / pair 3.64 3.29 +10.5% 4.01 3.36 +19.6% (R$ million | million pairs) 2Q26 2Q26 2Q26 vs. 2Q25 1S26 1S25 1S26 vs. 1S25 Volume 7.7 6.9 +11.9% 14.3 12.7 +13.2% Europe 4.4 3.6 +20.9% 7.9 6.6 +19.6% USA 0.6 0.8 -30.0% 1.8 1.2 +40.2% IDM 2.8 2.5 +12.1% 4.7 4.8 -2.3% Net Sales 405.8 396.6 +2.3% 713.4 675.6 +5.6% Europe 308.5 255.8 +20.6% 512.3 433.1 +18.3% USA 22.1 66.8 -66.9% 72.6 108.0 -32.8% IDM 75.2 74.1 +1.5% 128.4 134.6 -4.5% COGS 110.2 120.5 -8.6% 227.6 218.7 +4.0% Gross Profit 295.6 276.1 +7.1% 485.8 456.9 +6.3% Gross Margin (%) 72.8% 69.6% +3.2pp 68.1% 67.6% +0.5pp Operating Expenses 178.2 218.9 -18.6% 306.1 366.7 -16.5% EBITDA 117.4 57.2 +105.2% 179.6 90.2 +99.1% EBITDA Margin (%) 28.9% 14.4% +14.5pp 25.2% 13.4% +11.8pp (R$ million | million pairs) 2Q26 2Q26 2Q26 vs. 2Q25 1S26 1S25 1S26 vs. 1S25 Net Sales / pair 52.71 57.65 -8.6% 49.79 53.40 -6.8% COGS / pair 14.31 17.52 -18.3% 15.88 17.29 -8.1% Gross Profit / pair 38.40 40.13 -4.3% 33.91 36.11 -6.1% Operating Expenses / pair 23.14 31.81 -27.3% 21.37 28.98 -26.3% EBITDA / pair 15.25 8.32 +83.3% 12.54 7.13 +75.9% In constant currency (R$ million | million pairs) 2Q26 2Q26 2Q26 vs. 2Q25 1S26 1S25 1S26 vs. 1S25 Volume 7.7 6.9 +11.9% 14.3 12.7 +13.2% Europe 4.4 3.6 +20.9% 7.9 6.6 +19.6% USA 0.6 0.8 -30.0% 1.8 1.2 +40.2% IDM 2.8 2.5 +12.1% 4.7 4.8 -2.3% Net Sales 405.8 353.3 +14.8% 702.6 596.7 +17.7% Europe 308.5 227.9 +35.4% 505.2 382.5 +32.1% USA 22.1 59.5 -62.9% 70.8 95.4 -25.8% IDM 75.2 66.0 +14.0% 126.6 118.8 +6.6% COGS 110.2 114.7 -4.0% 223.5 193.0 +15.8% Gross Profit 295.6 238.6 +23.9% 479.1 403.7 +18.7% Gross Margin (%) 72.8% 67.5% +5.3pp 68.2% 67.6% +0.5pp Operating Expenses 178.2 184.1 -3.2% 301.7 323.9 -6.9% EBITDA 117.4 54.5 +115.5% 177.5 79.8 +122.5% EBITDA Margin (%) 28.9% 15.4% +13.5pp 25.3% 13.4% +11.9pp In constant currency (R$ / pair) 2Q26 2Q26 2Q26 vs. 2Q25 1S26 1S25 1S26 vs. 1S25 Net Sales / pair 52.71 51.36 +2.6% 49.04 47.16 +4.0% COGS / pair 14.31 16.68 -14.2% 15.60 15.26 +2.2% Gross Profit / pair 38.40 34.68 +10.7% 33.44 31.90 +4.8% Operating Expenses / pair 23.14 26.76 -13.5% 21.06 25.60 -17.8% EBITDA / pair 15.25 7.92 +92.6% 12.39 6.30 +96.5%
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Income Statement (R$ million) 20 (R$ million) 2Q26 2Q25 2Q26 vs. 2Q25 1S26 1S25 1S26 vs. 1S25 (=) Net sales 1,226.4 1,101.4 +11.3% 2,455.8 2,193.8 +11.9% (-) Cost of sales (535.5) (498.6) +7.4% (1,118.1) (1,030.6) +8.5% (=) Gross Profit 690.8 602.8 +14.6% 1,337.7 1,163.3 +15.0% Gross Margin (%) 56.3% 54.7% +1.6pp 54.5% 53.0% +1.4pp (-) Operating Expenses (482.3) (496.5) -2.9% (904.0) (925.3) -2.3% Sales (376.2) (362.4) +3.8% (687.2) (691.2) -0.6% General and administrative (77.1) (63.8) +20.8% (148.6) (134.0) +10.9% Other operating income (expenses). net (29.1) (70.3) -58.7% (68.2) (100.1) -31.9% (+) Financial Result (16.5) (15.4) +7.7% (41.6) (36.1) +15.3% Financial income 26.4 31.8 -16.9% 77.3 65.5 +18.0% Financial expenses (47.1) (37.5) +25.5% (92.5) (80.2) +15.2% Exchange variation 4.1 (9.6) -142.6% (26.5) (21.4) +23.7% (=) EBT 192.0 90.9 +111.2% 392.0 201.9 +94.2% (-) Income Tax / Social Contribution (25.5) (16.3) +57.0% (48.0) (8.1) +489.8% (=) Net income continuing op. (Exc. Equity Accounting) 166.4 74.6 +123.0% 344.1 193.7 +77.6% (+) Equity Income 3.2 12.3 -73.8% (11.6) 5.6 -305.2% (=) Net Income 169.7 87.0 +95.1% 332.5 199.4 +66.8% Net margin (%) 13.8% 7.9% +5.9pp 13.5% 9.1% +4.5pp
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Balance Sheet (R$ million) 21 ASSETS 06/30/2026 31/12/2025 LIABILITIES AND NET EQUITY 06/30/2026 31/12/2025 CURRENT CURRENT Cash and cash equivalents 717.7 555.6 Suppliers 493.4 442.3 Accounts receivable from clients 1,273.8 1,189.6 Forfait 135.9 158.1 Inventories 829.9 760.1 Loans and debts 424.9 380.5 Recoverable taxes 133.1 138.3 Leasing liabilities 34.2 39.2 Prepaid expenses 45.9 35.3 Tax liabilities 56.9 48.0 Other credits 35.3 32.1 Long-term incentive plan 3.5 1.4 Total current assets 3,035.7 2,711.0 Provisions and other liabilities 233.1 188.3 Labor and social security liabilities 186.1 220.8 Accounts payable on sale of subsidiary - 89.1 Provision for tax. civil and labor contingencies 9.9 12.8 Interests on capital and payable dividends 10.6 106.6 Total current liabilities 1,588.6 1,687.1 NONCURRENT NONCURRENT Financial investments 16.0 15.0 Loans and debts 841.0 855.0 Recoverable taxes 308.3 274.0 Leasing liabilities 101.3 124.2 Deferred income and social contribution taxes 179.9 240.5 Deferred income tax and social contribution 0.1 0.1 Deposit in court 23.9 27.5 Provision for tax. civil and labor contingencies 12.0 16.8 Other credits 12.8 10.1 Long-term incentive plan 28.9 16.7 Long-term assets Other liabilities 17.4 17.1 Investments 744.8 798.3 Tax obligation 78.6 56.0 Fixed assets 1,397.5 1,401.1 Total noncurrent liabilities 1,079.3 1,085.9 Right-of-use asset 117.3 146.0 Intangible 451.0 473.1 Total noncurrent assets 3,251.5 3,385.7 NET EQUITY Share Capital 3,056.9 3,056.9 Capital reserves 223.3 223.3 Revenue reserve 258.1 258.1 Accumulated Earnings (Losses) 334.6 - Other comprehensive income (253.3) (214.3) Assigned shareholders' equity to controlling shareholders 3,619.5 3,323.9 Non-controlling shareholders' (0.1) (0.1) Total net equity 3,619.3 3,323.8 TOTAL ASSETS 6,287.1 6,096.8 TOTAL LIABILITIES AND NET EQUITY 6,287.1 6,096.8
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Cash Flow Statement (R$ million) 22 (R$ million) 2Q26 2Q25 Net cash generated (consumed) in operating activities 146.5 64.3 Adjustments to reconcile net income for the year from continued operation the net cash generated by operating activities 315.8 235.1 Net income from continued operations 169.7 87.0 Depreciation and amortization 50.5 57.6 Gain (loss) on disposal/write-off of property, plant and equipment 0.0 0.3 Equity in net income of subsidiaries (3.2) (12.3) Interest. Monetary, and exchange rate variations 37.3 35.8 Provision for labor, civil and tax contingencies 6.2 23.7 Income tax and social contribution - current and deferred 25.5 16.3 Inventory losses - provision and adjustment 13.1 6.2 Provision for expected loss on accounts receivable (2.5) 2.5 Inflation adjustment of judicial deposits and tax credits 0.1 0.2 Provision for long-term incentive plan 5.6 3.3 Interest expense on lease liabilities 3.5 3.7 Depreciation of right-of-use assets 9.9 10.8 Remeasurement of payable related to subsidiary acquisition (0.0) - Decrease (increase) in assets and liabilities (108.7) (145.8) Accounts receivable from clientes (46.7) (59.1) Inventories (55.3) (91.3) Prepaid expenses (14.9) (0.5) Recoverable taxes (22.4) (10.6) Suppliers 42.8 31.3 Tax liabilities 37.0 27.6 Labor and social security liabilities (55.3) (50.9) Contingencies (7.1) (20.6) Others 13.2 28.3 Cash (consumed in) generated from operations 207.1 89.3 (Payments) / refunds of income tax and social contribution (3.0) (11.6) Payment of charges, loans and debts (54.6) (10.6) Payment of lease interest - IFRS 16 (3.1) (2.8) Net cash (used) in investment activities (118.2) (54.3) Acquisition of property, plant and equipment and intangible assets (54.1) (54.3) Cash related to settlement of acquisition (Ioasys) (64.1) - Net cash generated from (used in) financing activities (81.8) (259.0) Borrowings and financing proceeds 123.3 101.4 Payment of loans and borrowings - Principal (104.2) (288.6) Payment of interest on equity and dividends (90.9) (61.1) Payment of lease principal - IFRS 16 (10.1) (10.7) Foreign exchange effect on cash and cash equivalents (23.4) 14.9 Increase (decrease) in cash and cash equivalents (77.0) (234.1) Initial balance of cash and cash equivalents 794.7 1,098.6 Final balance of cash and cash equivalents 717.7 864.6
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23 INVESTOR RELATIONS ri@alpargatas.com