Slides
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Results Presentation Free Flow – Imigrantes Highway | Ecovias Imigrantes 2Q26
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Highlights Agenda 2Q26 Results Operational and financial performance Capex and Debt Management Sustainability 2
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Material Events 3 In June, Ecovias das Gerais signed the Concession Agreement, and the takeover of the highway section took place in July, marking the beginning of the concession term. Signing of the Concession Agreement Ecovias das Gerais Toll tariff adjustment at Ecovias Imigrantes: +4.72% and an additional R$0.10 per toll plaza, as a precautionary measure to mitigate imbalances. Other highlights Toll tariff adjustments and Debentures Toll collection is expected to begin by January 2027, and its results will fully offset the impact from the termination of the concession agreement of Ecovias Sul. Toll tariff adjustment at Ecovias Leste Paulista: +4.72% and an additional R$0.10 per toll plaza, as a precautionary measure to mitigate imbalances. Issuance of R$2.4 billion in debentures by Ecovias Capixaba to finance investments through 2030, when long- term financing is expected to be structured.
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Highlights Agenda 2Q26 Results Operational and financial performance Capex and Debt Management Sustainability 4
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OPERATIONAL PERFORMANCE | TRAFFIC Growth of 3.2% in comparable traffic¹ in 2Q26 mainly driven by the increase in heavy vehicle traffic. Highlights include Ecovias Norte Minas (+13.2%), Ecovias Capixaba (+9.5%) and Ecovias Imigrantes (+7.7%). Consolidated Traffic (equivalent paying vehicles x million) Comparable Traffic1 (equivalent paying vehicles x million) (1) Excluding Ecovias Noroeste Paulista, Ecovias Raposo Castello and Ecovias Sul. 5 80.4 80.3 144.5 164.3 113.4 112.7 208.6 220.7 193.8 193.0 353.1 385.0 2Q25 2Q26 1H25 1H26 Light Vehicles Heavy Vehicles 51.8 52.6 108.2 108.3 83.7 87.2 163.4 168.2 135.5 139.8 271.6 276.5 2Q25 2Q26 1H25 1H26 Light Vehicles Heavy Vehicles -0.6% -0.2% +5.8% +13.7% -0.4% +9.0% +4.2% +1.4% +2.9% +0.1% +3.2% +1.8%
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6 Adjusted Net Revenue (R$ million)1 Adjusted cash costs ex-Ecoporto (R$ million)2 (1) Excluding Construction Revenue. (2) Excluding costs and expenses of Ecovias Noroeste Paulista, Ecovias Raposo Castello and Ecovias Sul. (3) Excluding Construction Revenue and Costs, Provision for Maintenance and the provision for the global settlement agreement of Ecovia Caminho do Mar and Ecocataratas (Paraná Agreement) in 2Q26. 1,819 1,837 3,488 3,647 2Q25 2Q26 1H25 1H26 318 333 617 641 2Q25 2Q26 1H25 1H26 +4.6% Adjusted EBITDA (R$ million)3 1,363 1,348 2,618 2,753 2Q25 2Q26 1H25 1H26 74.9% 73.4% Adjusted EBITDA Adjusted EBITDA margin Solid results with disciplined cost management IPCA of 4.64% in the last 12 months +1.0% +4.7% +4.0% -1.1% 75.1% 75.5% +5.2% OPERATIONAL PERFORMANCE
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FINANCIAL PERFORMANCE | NET INCOME The result reflects the termination of Ecovias Sul, inflation, as measured by the IPCA, and the expanding investment cycle Recurring Net Income4 – 2Q26 (R$ million) 7 (1) Excluding Construction Revenue and Costs, Provision for Maintenance and the provision for the global settlement agreement of Ecovia Caminho do Mar and Ecocataratas (Paraná Agreement). (2) Excluding the monetary variation of the Paraná Agreement. (3) Considers the variation in net income of non -controlling shareholders and equity income. (4) Net income attributed to controlling shareholders. 204.5 (14.8) (15.6) 11.7 (175.9) 39.5 3.6 52.9 2Q25 Recurring Net Income Δ Adjusted EBITDA¹ Δ Depreciation and Amortization Δ Provision for Maintenance Δ Adjusted Financial Result² Δ Income Tax/ Social Contribution Δ Other effects³ 2Q26 Recurring Net Income Comparable Net Income ex-Ecovias Sul – 1H26 (R$ million) 277.8 73.3 351.1 135.3 (261.5) 12.8 (315.5) 116.5 4.4 43.1 93.5 136.6 1H25 Net Income Ex- Ecovias Sul 1H25 Net Income Ecovias Sul 1H25 Recurring Net Income Δ Adjusted EBITDA¹ Δ Depreciation and Amortization Δ Provision for Maintenance Δ Adjusted Financial Result² Δ Income Tax/ Social Contribution Δ Other effects³ 1H26 Recurring Net Income 1H26 Net Loss Ecovias Sul 1H26 Net Income Ex- Ecovias Sul
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Highlights Agenda 2Q26 Results Operational and financial performance Capex and Debt Management Sustainability 8
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Delivery of third lanes in São Carlos (SP) CAPEX 9 Investments of R$1.5 billion in 2Q26:highlighting the progress of works at Ecovias Rio Minas, Araguaia, Noroeste Paulista and Capixaba Expansion works on the south section of BR-101/ES Road widening works in Talismã (GO) 1,172 1,547 2,115 2,521 2Q25 2Q26 1H25 1H26 +32.0% Capex (R$ million) +19.2%
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FINANCIAL PERFORMANCE | DEBT MANAGEMENT Leverage ratio of 4.1x in June 2026. Highlight to 72% of debt allocated to highway concessions and 77% indexed to inflation, the same index used for tariff adjustments in our concessions (natural hedge) 10 22,253 77% 5,650 20% 948 3% IPCA/TLP CDI/Fixed-rate TJLP 22,220 23,480 1Q26 2Q26 3.9x 4.1x Net debt Net debt/ Adjusted EBITDA +5.7% 72% of debt allocated to highway concessions 77% of gross debt indexed to inflation Leverage at the subholding (ECS) ended June at 3.9x (+0.2x vs. March 2026) 20,701 72% 5,273 18% 1,279 4% 1,599 6% Highway Concessions EcoRodovias Concessões e Serviços EcoRodovias Infraestrutura e Logística Holding do Araguaia Gross Debt by Indexer (R$ million and % - June 2026) Consolidated Net Debt and leverage (R$ million) Gross Debt Distribution (R$ million and % - June 2026)
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FINANCIAL PERFORMANCE | DEBT AMORTIZATION SCHEDULE 11 Gross Debt Amortization Schedule (R$ million) Solid liquidity position, with cash balance sufficient to cover amortizations over the next 3 years and average debt maturity of 7.6 years, with 90% of maturities from 2029 onwards 5,371 674 222 1,109 902 4,042 4,748 3,632 2,289 1,570 1,045 844 7,775 Cash 2H26 1H27 2H27 2028 2029 2030 2031 2032 2033 2034 2035 2036 to 2051 10% of maturities 90% of maturities
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Highlights Agenda 2Q26 Results Operational and financial performance Capex and Debt Management Sustainability 12
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Sustainability highlights Score A- Rating AA Sustainability Program | ANTT The federal concessions of EcoRodovias joined Level 3 of ANTT’s Infrastructure Sustainability Program, becoming part of the regulatory sandbox for testing and implementing new technologies, methodologies and sustainability practices. Accident Prevention Expansion of the use of Artificial Intelligence, telemetry and video telemetry in the Company’s fleet, enabling real- time identification of risk behaviors and reinforcing accident prevention. Awards - EcoRodovias received the Gender and Race Equity Seal. - Ecovias Noroeste Paulista received the Pro-Ethics Seal. 13
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Disclaimer This presentation contains forward-looking statements concerning the business prospects, estimates of operating and financial results and growth prospects of EcoRodovias. These are based solely on the current expectations of EcoRodovias management, as well as its awareness of the future of the business and its access to capital to finance the Company's business plan. These statements depend on market conditions, regulatory and governmental measures, competition and performance of both the concession sector and the Brazilian economy, which could differ considerably in relation to the current scenario. Thus, these and other factors, in addition to the risks mentioned in the documents disclosed and filed by EcoRodovias, are subject to change without prior notice. As a result, future events or actual results may differ materially from those described in, or based on, the forward-looking statements contained herein. As such, readers or investors should not place undue reliance on such forward-looking statements. Under no circumstances should this presentation be interpreted as an offer or invitation to sell, buy or subscribe to any security issued by EcoRodovias or its subsidiaries. Rua Gomes de Carvalho, 1.510 3rd floor, São Paulo – SP - Brazil invest@ecorodovias.com.br Website Email www.ecorodovias.com.br/ri Address Contact IR