Earnings release
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Ceztec EARNINGS RELEASE 2Q26 CONFERENCE CALL Simultaneous Translation August 7th , 2026 10h ( Brasília Time ) / 09h ( NY Time ) Follow by Zoom : Click here or access by QR Code Meeting ID : 912 0820 4484 .A . Emílio C. Fugazza . Pedro Tadeu T. Lourenço ⚫ Rafael Campanelli . Christian L. de Melo Marina Ferreira . Ricardo Pena Tel .: +55 ( 11 ) 5056-8313 ☑ ri@eztec.com.br ☑ www.eztec.com.br/ri EZTC B3 LISTED NM
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Launch 2Q26 Delivery (Est.) 3Q29
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3 EARNINGS RELEASE 2Q26 SUMMARY 2Q26 HIGHLIGHTS ............................................................................................................................................................ 4 MANAGEMENT’S COMMENTS .......................................................................................................................................... 5 BALANCE SHEET ............................................................................................................................................................... 6 INCOME STATEMENT ........................................................................................................................................................ 7 FINANCIAL INDICATORS ................................................................................................................................................... 8 REVENUE, COST & GROSS PROFIT .................................................................................................................................. 8 SELLING EXPENSES ....................................................................................................................................................... 10 ADMINISTRATIVE EXPENSES ........................................................................................................................................ 11 EQUITY INCOME ............................................................................................................................................................. 12 RESULTS TO RECOGNIZE .............................................................................................................................................. 13 RESULTS OF SPECIFIC EVENTS .................................................................................................................................... 14 FINANCIAL RESULTS ..................................................................................................................................................... 15 CASH & DEBTS ................................................................................................................................................................ 16 OPERATIONAL INDICATORS .......................................................................................................................................... 17 LAUNCHES ...................................................................................................................................................................... 17 PROJECT DELIVERIES .................................................................................................................................................... 18 SALES & CANCELLATIONS ............................................................................................................................................ 19 DIRECT RECEIVABLE PORTFOLIO ................................................................................................................................. 21 INVENTORY ..................................................................................................................................................................... 22 LANDBANK ...................................................................................................................................................................... 23 CAPITAL MARKET ........................................................................................................................................................... 25 ADDITIONAL VALUE ....................................................................................................................................................... 25 INTERNAL CONSENSUS ................................................................................................................................................. 26 ANNEXES......................................................................................................................................................................... 28 INVENTORY BY PROJECT .............................................................................................................................................. 28 PoC EVOLUTION ............................................................................................................................................................. 30 REVENUE BY PROJECT .................................................................................................................................................. 31 CASH FLOW .................................................................................................................................................................... 33
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4 EARNINGS RELEASE 2Q26 2Q26 HIGHLIGHTS Gross Margin reached 39.7% in 2Q26, an increase of 1 p.p. compared to 1Q26. Operationally, the Company achieved the highest semi-annual launch volume in its history, with R$ 1.7 billion in %EZ PSV. Financial Highlights 2Q26 1Q26 %Var 2Q25 %Var 1H26 1H25 %Var Net Revenue (R$ k) 376,711 322,518 16.8% 449,254 -16.1% 699,229 760,501 -8.1% Gross Profit (R$ k) 149,580 124,959 19.7% 182,983 -18.3% 274,539 306,312 -10.4% Gross Margin 39.7% 38.7% 1.0 p.p. 40.7% -1.0 p.p. 39.3% 40.3% -1.0 p.p. Net Income (R$ k) 110,437 119,699 -7.7% 139,907 -21.1% 230,136 234,006 -1.7% Net Margin 29.3% 37.1% -7.8 p.p. 31.1% -1.8 p.p. 32,9% 30.8% 2.1 p.p. Earnings per Share (R$) 0.40 0.43 -7.0% 0.64 -37.5% 0.83 1.07 -22.4% Net Debt (Cash) (R$ k) (1,385) (6,863) -79.8% 337,944 -100.4% (1,385) 337,944 -100.4% Cash Generation (Burn) (R$ k) (5,478) 154,306 -103.5% 59,730 -109.2% 148,828 28,006 431.4% São Paulo, August 6th, 2026 - Eztec S.A. (B3: EZTC3), with 4 7 years of existence, stands out as one of the most profitable companies in the construction and real estate development sector in Brazil. The Company announces its results for the second quarter of 2026 (2Q26). Eztec's operational and financial information, except where otherwise indicated, is presented on a consolidated basis and in thousands of Reais (R$), prepared in accordance with the Accounting Practices Adopted in Brazil (“BR GAAP”) and the International Finan cial Reporting Standards (IFRS) applicable to real estate development entities in Brazil, as approved by the Accounting Pronouncements Committee (CPC), the Brazilian Securities and Exchange Commission (CV M), and the Federal Accounting Council (CFC). The non -accounting and non-financial data have not been revised/audited by Independent Auditors. Operational Highlights 2Q26 1Q26 %Var 2Q25 %Var 1H26 1H25 %Var # of Projects Launched 3 4 -25.0% 3 - 7 5 40.0% PSV %Eztec 773,000 924,700 -16.4% 490,000 57.8% 1,697,700 1,106,000 53.5% Net Sales 577,572 697,071 -17.1% 488,563 18.2% 1,274,643 865,497 47.3% Total Inventory 3,312,816 3,137,614 5.6% 2,719,751 21.8% 3,312,816 2,719,751 21.8% Net SoS 14.8% 18.2% -3.3 p.p. 15.2% -0.4 p.p. 27.8% 24.1% 3.6 p.p. # of Active Construction Sites 17 19 -10.5% 17 - 17 17 - Landbank 9,012,284 8,708,457 3.5% 10,650,939 -15.4% 9,012,284 10,650,939 -15.4% *Until the date of this disclosure 57.8% sold* Azzure Resort Life
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5 EARNINGS RELEASE 2Q26 MANAGEMENT’S COMMENTS Eztec's Management releases the results for the second quarter of 2026, a period that consolidates the best first half of launches and sales in the Company's history, totaling R$1,697.7 million in %EZ PSV launched and R$1,274.6 million in net sales. On the financial front, the quarter brought significant progress. Net revenue for 2Q26 totaled R$376.7 million, a growth of 16.8% compared to 1Q26, reflecting development deliveries and the non -recurring gains recorded in the period. Gross margin reached 39.7%, and financial results were a positive highlight of the quarter, increasing 98% compared to the same period of the previous year. As a result, net income attributable to controlling shareholders totaled R$110.4 million, with a net margin of 29.3% in the period. In the quarter, the Company reaffirms its Launch Guidance for fiscal year 2026, in the range of R$2.5 billion to R$3.5 billio n in PSV. With the R$1,697.7 million already launched in the first -half accumulated total, Eztec met between 49% and 68% of the annual Guidance, a pace that reinforces Management's confidence in delivering within the projected range. The regional diversification strategy, aimed at operating in the São Paulo Metropolitan Region, remained at the center of launch decisions, reinforcing the Company's reach beyond the traditional axis of the São Paulo capital in the middle -income segment. Net sales of launches totaled R$408.1 million in the quarter, up 59.4% year-over-year, evidencing the strong pace of absorption of recently launched products. Ready inventory sales, in turn, reached R$101.1 million, in line with the level recorded in the previous quarter. Total inventory closed the quarter at R$3,312.8 million in %EZ PSV. On the delivery side, stood out the completion of the Lindenberg Ibirapuera and East Blue Tatuapé, which were launched in the first half of 2023, with total %EZ PSV of R$775 million and which are, on average, 81% sold, reinforcing the Company's commitment to meeting contractual deadlines. On the governance front, the Board of Directors approved, on June 11, 2026, the cancellation of all shares held in treasury a nd the establishment of a new Share Buyback Program, with a term of up to 18 months, as an additional signal of the capital discipline that guides Management's decisions. Also, on July 16, 2026, the Board approved a set of new corporate policies, advancing the consolidation of a more robust governance structure. Such materials are available for review with the CVM (Brazilian Securities and Exchange Commission) and on our Investor Relations website. As of this date, the Board of Directors resolved on the distribution of dividends in the total amount of approximately R$26.2 million, equivalent to approximately R$0.09 per share, with payment expected on August 28, 2026. We reach the midpoint of 2026 with indicators that confirm the soundness of the strategy adopted by Management: semi - annual records in launches and sales, progress in financial results, advancement in corporate governance policies, and a buyback program that reaffirms the Company's confidence in its own value. We continue executing the annual Guidance, attentive to financial discipline and EZTEC's historical commitment to generating consistent returns for shareholders, customers, and employees throughout the industry's cycles. Good reading, THE MANAGEMENT Arbitration Chamber. In accordance with Article 37 of Eztec's Bylaws, the Company, its shareholders, and Officers undertake to resolve, through arbitration before the Market Arbitratio n Chamber, any and all disputes or controversies that may arise between them, related to or arising from, in particular, the applic ation, validity, effectiveness, interpretation, violation, and the effects thereof, of the provisions contained in the Brazilian Corporations Law, in these Bylaws, in the rules issued by the National Monetary Council, the Central Bank of Brazil, or the CVM, as well as in the other rules applicable to the operation of the capital markets in general, in addition to those set forth in the Novo Mercado Listing Rules, the Arbitration Rules, the Sanctions Regulation, and the Novo Mercado Participation Agreement. Relationship with Independent Auditors. In compliance with CVM Resolution No. 162/22, we inform that the independent auditors Deloitte Touche Tohmatsu did not provide, in 2026, any services other than those related to external auditing. The company's policy for engaging independent auditors ensures that there is no conflict of interest, loss of independence, or objectivity. 2Q26
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6 EARNINGS RELEASE 2Q26 BALANCE SHEET Period ended on June 30th, 2026 In thousands of Brazilian Reais – R$ 2Q26 1Q26 %Var 2Q25 %Var ASSETS 7,493,444 7,339,974 2.1% 7,031,122 6.6% CURRENT ASSETS 3,411,503 3,351,744 1.8% 3,134,468 8.8% Cash and Cash equivalents 72,863 42,563 71.2% 52,000 40.1% Financial Investments 1,720,711 1,678,667 2.5% 1,141,769 50.7% Trade Accounts Receivable 399,643 386,673 3.4% 599,446 -33.3% Provision for Doubtful Accounts (9,143) (24,125) -62.1% (20,339) -55.0% Real Estate Held for Sale 1,199,941 1,238,045 -3.1% 1,333,286 -10.0% Recoverable Taxes 10,642 10,089 5.5% 9,191 15.8% Other Receivables 16,846 19,832 -15.1% 19,115 -11.9% NON-CURRENT ASSETS 4,081,941 3,988,230 2.3% 3,896,654 4.8% Trade Accounts Receivable 1,268,771 1,264,001 0.4% 1,343,883 -5.6% Real Estate Held for Sale 2,016,437 1,908,776 5.6% 1,783,624 13.1% Recoverable Taxes 61,514 58,022 6.0% 60,912 1.0% Due from Related Parties 79,948 78,393 2.0% 109,964 -27.3% Notes Receivable 26,675 27,522 -3.1% - n.a. Other Receivables 32,889 48,135 -31.7% 61,067 -46.1% Goodwill over Investments 101,991 103,956 -1.9% 113,194 -9.9% Investments 423,599 439,226 -3.6% 384,410 10.2% Property and Equipment 67,340 57,233 17.7% 36,498 84.5% Intangible 2,778 2,966 -6.3% 3,102 -10.4% LIABILITIES 2,178,304 2,100,522 3.7% 1,927,803 13.0% CURRENT LIABILITIES 1,113,508 393,544 182.9% 334,446 232.9% Suppliers 49,548 57,235 -13.4% 47,308 4.7% Payroll Obligations 11,579 12,777 -9.4% 11,738 -1.4% Tax Obligations 14,438 14,864 -2.9% 15,693 -8.0% Loans and Financing 607,798 69,261 777.5% 44,394 1269.1% Debentures 210,160 52,075 303.6% 17,190 1122.6% Accounts Payable 27,861 23,747 17.3% 11,666 138.8% Reserve for Guarantee 17,597 15,824 11.2% 12,779 37.7% Advances from Customers 86,562 82,380 5.1% 95,138 -9.0% Land Payable 67,760 46,999 44.2% 50,909 33.1% Dividends Payable - - n.a. - n.a. Due to Related Parties 336 336 - 850 -60.5% Deferred Taxes 15,737 14,665 7.3% 23,649 -33.5% Use Rights Payable 4,132 3,381 22.2% 3,132 31.9% NON-CURRENT LIABILITIES 1,064,796 1,706,978 -37.6% 1,593,357 -33.2% Loans and Financing 60,822 530,501 -88.5% 801,326 -92.4% Debentures 913,409 1,062,530 -14.0% 668,803 36.6% Land Payable - 21,587 -100.0% 31,161 -100.0% Reserve for Guarantee 2,646 4,047 -34.6% 10,256 -74.2% Reserve for contingencies 6,469 6,469 - 8,849 -26.9% Deferred Taxes 61,637 65,072 -5.3% 54,221 13.7% Other Debts to Third Parties - - n.a. - n.a. Use Rights Payable 19,813 16,772 18.1% 18,741 5.7% SHAREHOLDER’S EQUITY 5,315,140 5,239,452 1.4% 5,103,319 4.2% CONTROLLING SHAREHOLDER’S EQUITY 5,232,253 5,150,245 1.6% 5,015,996 4.3% Share Capital 4,301,053 4,301,053 - 2,888,997 48.9% Capital Reserve 38,297 38,297 - 38,297 - Cost of Shares Emission (40,754) (40,754) - (40,754) - Treasury Stock - (45,181) -100.0% (45,181) -100.0% Earnings Reserves 759,348 832,958 -8.8% 1,996,458 -62.0% Accumulated Profits 230,136 119,699 92.3% 234,006 -1.7% Goodwill on Transactions with Partners (55,827) (55,827) - (55,827) - NON-CONTROLLING SHAREHOLDER’S EQUITY 82,887 89,207 -7.1% 87,323 -5.1% Click and access data in Excel
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7 EARNINGS RELEASE 2Q26 INCOME STATEMENT IFRS 10 Period ended on June 30th, 2026 In thousands of Brazilian Reais – R$ 2Q26 1Q26 %Var 2Q25 %Var 1H26 1H25 %Var GROSS REVENUE 414,430 368,956 12.3% 512,524 -19.1% 783,386 856,294 -8.5% (+) Revenue from Sale of Real Estate 409,265 361,969 13.1% 505,989 -19.1% 771,234 843,376 -8.6% (+) Revenue from Services and Rental 5,165 6,987 -26.1% 6,535 -21.0% 12,152 12,918 -5.9% DEDUCTIONS FROM GROSS REVENUE (37,719) (46,438) -18.8% (63,270) -40.4% (84,157) (95,793) -12.1% (-) Cancelled Sales (30,539) (39,588) -22.9% (52,289) -41.6% (70,127) (78,567) -10.7% (-) Taxes on Sales (7,180) (6,850) 4.8% (10,981) -34.6% (14,030) (17,226) -18.6% NET REVENUE 376,711 322,517 16.8% 449,254 -16.1% 699,229 760,501 -8.1% COSTS OF REAL ESTATE SOLD, RENTALS AND SERVICES (227,131) (197,559) 15.0% (266,271) -14.7% (424,690) (454,189) -6.5% (-) Site/Land Cost (214,843) (188,507) 14.0% (252,661) -15.0% (403,350) (424,299) -4.9% (-) Capitalized Financial Charges (8,317) (6,496) 28.0% (9,716) -14.4% (14,813) (21,192) -30.1% (-) Inventory Maintenance and Collateral (3,971) (2,556) 55.4% (3,894) 2.0% (6,527) (8,698) -25.0% GROSS PROFIT 149,580 124,958 19.7% 182,983 -18.3% 274,539 306,312 -10.4% (%) Gross Margin 39.7% 38.7% 1.0 p.p. 40.7% -1.0 p.p. 39.3% 40.3% -1.0 p.p. (%) Adjusted Gross Margin (Ex-Capitalized Financial Charges) 41.9% 40.8% 1.2 p.p. 42.9% -1.0 p.p. 41.4% 43.1% -1.7 p.p. OPERATIONAL REVENUES / (EXPENSES) (90,195) (41,852) 115.5% (61,493) 46.7% (132,047) (116,064) 13.8% (-) Selling Expenses (34,462) (33,268) 3.6% (39,760) -13.3% (67,730) (64,804) 4.5% (-) Administrative Expenses (51,596) (45,243) 14.0% (42,848) 20.4% (96,839) (76,602) 26.4% (-) Tax Expenses (3,471) (1,481) 134.4% (1,815) 91.2% (4,952) (5,560) -10.9% (+) Equity Income 10,340 34,302 -69.9% 24,398 -57.6% 44,642 35,523 25.7% (+) Other Expenses / Operational Revenues (11,006) 3,838 -386.8% (1,468) 649.7% (7,168) (4,621) 55.1% EBIT 59,385 83,106 -28.5% 121,490 -51.1% 142,492 190,248 -25.1% FINANCIAL RESULT 67,371 51,363 31.2% 34,006 98.1% 118,734 70,401 68.7% (+) Financial Revenue 101,576 79,861 27.2% 64,288 58.0% 181,437 115,218 57.5% (-) Financial Expense (34,205) (28,498) 20.0% (30,282) 13.0% (62,703) (44,817) 39.9% EARNINGS BEFORE INCOME TAX AND SOCIAL CONTRIBUTION 126,756 134,469 -5.7% 155,496 -18.5% 261,226 260,649 0.2% INCOME TAX AND SOCIAL CONTRIBUTION (9,427) (8,276) 13.9% (10,938) -13.8% (17,703) (19,170) -7.7% (-) Current (11,406) (11,340) 0.6% (8,953) 27.4% (22,746) (15,075) 50.9% (-) Deferred 1,979 3,064 -35.4% (1,985) -199.7% 5,043 (4,095) -223.2% ATTRIBUTABLE TO NON-CONTROLLING INTERESTS (6,892) (6,495) 6.1% (4,651) 48.2% (13,387) (7,473) 79.1% NET INCOME (ATTRIBUTABLE TO CONTROLLING INTERESTS) 110,437 119,699 -7.7% 139,907 -21.1% 230,136 234,006 -1.7% (%) Net Margin 29.3% 37.1% -7.8 p.p. 31.1% -1.8 p.p. 32.9% 30.8% 2.1 p.p. Click and access data in Excel
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8 EARNINGS RELEASE 2Q26 FINANCIAL INDICATORS REVENUE, COST & GROSS PROFIT 39.7% 2nd Quarter ↑ 1.0 p.p. vs 1Q26 ↓ -1.0 p.p. vs 2Q25 Net revenue reached R$377 million, a growth of 16.8% in the quarter, reflecting the deliveries made in the period, the overcoming of the suspensive clause, the recognition of construction cost savings, and the sale of a plot of land. The Lindenberg Ibirapuera development, whose delivery was completed in the quarter, contributed R$54 million to the period's revenue. The overcoming of the suspensive clause of Reserva São Caetano Bosque, launched in 4Q25, also generated a positive impact, with an increment of R$45 million in the SPE's revenue in the quarter. Additionally, the Company benefited from R$17 million in construction cost savings, in addition to the sale of a plot of land in Praia Grande, which generated a profit of R$11 million. 39.3% Year-to-date Gross margin reached 39.7% in 2Q26 . Contributing positively to the margin were the sale of the plot of land in Praia Grande and the construction cost savings mentioned above, in addition to the lower share of launch sales in the quarter's sales mix compared to 1Q26. Conversely, 1Q26 benefited from a non -recurring (one-off) effect that boosted the period's margin, which makes the quarterly comparison less representative of the Company's operational dynamics. 183 210 109 125 150 41% 45% 41% 39% 40% 28% 30% 32% 34% 36% 38% 40% 42% 44% 46% - 50 100 150 200 250 2Q25 3Q25 4Q25 1Q26 2Q26 R$ million and % Revenue growing due to overcoming the clause of new projects, construction cost savings, and sale of land. Quarterly evolution of gross profit and gross margin R$ 64 mi 33% GM R$ 138 mi 30% GM R$ 87 mi 34% GM R$ 142 mi 34% GM R$ 67 mi 33% GM R$ 123 mi 55% GM R$ 156 mi 39% GM R$ 48 mi 47% GM R$ 136 mi 42% GM R$ 175 mi 38% GM R$ 298 mi 42% GM R$ 7 mi 97% GM R$ 9 mi 100% GM R$ 1 mi 62% GMR$ 9 mi 39% GM 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 1H26 1H25 2026 2025 2024 2023 2022 <= 2021 EZ INC FIT CASA Margin on 2023 projects gets a boost from construction cost savings on deliveries Net Revenue and Gross Margin by Year of launch Projects that have more than one development within the same SPE are being recorded on the date of the first launch. For example, all projects launched in São Caetano do Sul under the "Campina Grande" SPE are grouped under the 2025 label.
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9 EARNINGS RELEASE 2Q26 Construction & Land Cost 57.0% A median Eztec project has a much larger scale than the median project built in Brazil . As expected, the larger the project, the greater the weight of steel, cement, aluminum and other inputs in its cost basket. Such projects may be common in the São Paulo market but do not reflect the national average. The INCC, the benchmark index for construction inflation in Brazil, recently had its calculation model revised by FGV, and starting in July 2023 new parameters began to be adopted. Of the quarter’s Revenue Capitalized Financial Charges 2.2% In civil construction, it is possible for financing interest to be included in the capitalized financial charges line. In the real estate market, from an accounting perspective, construction financing interest is capitalized into the product cost rather than recorded as a financial expense, since it arises from the production process. However, once the project is delivere d, this interest is reclassified as an expense under the line item ‘Interest and Passive Monetary Variations’. Of the quarter’s Revenue Maintenance & Collateral 1.1% The Company includes maintenance and warranty clauses in its contracts for projects for up to 5 years after key delivery. Provisions are intended to anticipate the financial effects of the guarantees provided by the Company on its development. After the 5-year period has elapsed, the unused portion of these provisions will be reversed. Of the quarter’s Revenue 266 260 160 198 227 2Q25 3Q25 4Q25 1Q26 2Q26 R$ million The company achieved cost savings in projects completed during the quarter Quarterly Costs Evolution
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10 EARNINGS RELEASE 2Q26 SELLING EXPENSES The 3.6% increase stems mainly from a higher volume of advertising and promotional campaign expenses, with emphasis on initiatives such as "Gol de Milhas" and "Selection." However, it is worth noting the non -linearity of these expenses, especially with regard to campaigns, in which the actual disbursement often does not occur at the same time as their execution, generating variations such as those observed in the comparison of this line with the previous quarter. The commissions line also contributed to the incre ase, since its recognition follows the PoC methodology, tracking the physical progress of developments under construction during the period. Conversely, there was a reduction in sales stand expenses in the quarter, given the presence of launches in the period that are new phases or projects of developments already launched, and the concentration of the construction of their structures in 1Q26. Even so, the Company maintains the commercial structure adequate to support the launch cycle and the sale of ready inventory. Advertising and Commissions Expenses Expenses with advertising, marketing, and commissions fluctuate due to campaigns focused on launches and the sale of completed and under-construction inventory. Expenses with sales stands and models In addition to expenses with regular sales stands/decorated units, this line also includes depreciation and maintenance costs of megastores. Maintenance and Inventory Inventory volume and the number of projects delivered, still under warranty, influence this line. Period ended on June 30th, 2026 In thousands of Brazilian Reais – R$ 2Q26 1Q26 %Var 2Q25 %Var 1H26 1H25 %Var SELLING EXPENSES 34,462 33,268 3.6% 39,760 -13.3% 67,730 64,804 4.5% Advertising and others 19,982 14,798 35.0% 17,569 13.7% 34,780 26,602 30.7% Sales stand and models 5,150 10,839 -52.5% 14,453 -64.4% 15,989 23,968 -33.3% Sales Commission 2,878 1,923 49.7% 2,176 32.3% 4,801 4,904 -2.1% Expenses with units in inventory 6,452 5,708 13.0% 5,562 16.0% 12,160 9,330 30.3% 16 10 4 3 17 8 4 2 15 11 6 2 20 5 6 3 - 10 20 30 40 50 60 70 Advertising and others Sales stand and models Expenses with units in inventory Sales Commission R$ million 3Q25 4Q25 1Q26 2Q26 Strong pace of launches in 1H26 keeps advertising expenses at an elevated level Quarterly composition by category - 12 months 1H26 1H25 - 20 40 Advertising and others Sales stand and models Expenses with units in inventory Sales Commission R$ million New phases of previously launched projects reduce the need for spending on new sales stands Annual comparision by category
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11 EARNINGS RELEASE 2Q26 ADMINISTRATIVE EXPENSES Administrative expenses totaled R$52 million in 2Q26, an increase of 14.0% compared to 1Q26 and 20.4% compared to 2Q25. The increase in the quarter was mainly influenced by the May collective bargaining agreement (dissídio ) and the merit raises and promotions granted to employees, items that directly impacted the Salaries and Payroll Charges line, in addition to the payment of profit sharing (PLR), which is not fully provisioned throughout the year and generates a seasonal effect in the payment period. In the annual comparison, the growth reflects, in addition to these effects, the expansion of the Company's structure over the period, in line with the increase in the level of operational activity. When analyzing administrative expenses as a whole, it is observed that they remain aligned with the expansion of the Company's activities and stay at a level compatible with the operational moment. Period ended on June 30th, 2026 In thousands of Brazilian Reais – R$ 2Q26 1Q26 %Var 2Q25 %Var 1H26 1H25 %Var ADMINISTRATIVE EXPENSES 51,596 45,243 14.0% 42,848 20.4% 96,839 76,602 26.4% Payroll and related taxes 14,450 13,420 7.7% 13,338 8.3% 27,870 24,044 15.9% Management's Fees 7,639 7,433 2.8% 5,745 33.0% 15,072 10,585 42.4% Employee Benefits 4,081 4,055 0.6% 3,824 6.7% 8,136 7,181 13.3% Depreciation and Amortization 1,558 1,536 1.4% 1,595 -2.3% 3,094 2,756 12.3% Services Expenses 16,787 11,209 49.8% 13,130 27.9% 27,996 21,619 29.5% Maintenance of Properties 70 94 -25.5% 106 -34.0% 164 299 -45.2% Taxes and Fees 962 1,820 -47.1% 473 103.4% 2,782 1,328 109.5% Software and Licences Expenses 2,922 2,976 -1.8% 1,803 62.1% 5,898 3,378 74.6% Other Expenses 3,127 2,700 15.8% 2,834 10.3% 5,827 5,412 7.7% 1 1 1 1 2H26 1H26 - 10 20 30 Maintenance of Properties Taxes and Fees Depreciation and Amortization Software and Licences Expenses Other Expenses Employee Benefits Management's Fees Services Expenses Payroll and related taxes R$ millions New level of administrative expenses supports the Company's expansion Year-on-year comparison of Administrative Expenses by category 1 1 2 2 5 5 12 9 3 3 4 5 12 12 3 3 4 7 13 11 3 3 4 8 14 17 - 20 40 60 Maintenance of Properties Taxes and Fees Depreciation and Amortization Software and Licences Expenses Other Expenses Employee Benefits Management's Fees Payroll and related taxes Services Expenses R$ millions 3Q25 4Q25 1Q26 2Q26 Administrative expenses remain within the Company’s historical range
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12 EARNINGS RELEASE 2Q26 EQUITY INCOME EQUITY PROJECTS’ INFORMATION 1H26 %Eztec SPE Launch Quarter Partner Region Standard Priv. Area (sqm) Total PSV (R$ Million) %EZ PSV (R$ Million) Equity Result MAIN PROJECTS 33,468 Park Avenue 50% Harisa 4Q22 Fraiha South Zone High-end 12,355 500 250 11,136 Mooca Città 50% Participações Imob. Mooca 1Q24 Aguassanta DI East Zone Middle-High end 14,820 259 130 10,901 Jardins do Brasil 85% Phaser 4Q12 LPI & Brasílimo Osasco Middle-High end 46,328 285 242 5,676 Cidade Parque Guarapiranga 50% CCISA209 1Q26 Cury South Zone Low-end 36,026 293 146 2,158 Signature 50% Itatiaia 4Q20 Imoleve South Zone High-end 15,419 249 124 3,597 Construtora Adolpho Lindenberg 47% 15,071 Others (3,897) TOTAL YEAR EQUITY INCOME 44,642 In 2Q26, equity income totaled R$10 million, representing 9.4% of the quarter's net income. The variation compared to the previous quarter is mainly due to three factors: (i) the effects of a quarter with only 100% EZTEC launches; (ii) the sales volume in 1Q26 of the high-end Park Avenue development; and (iii) the sale of 99% in the launch of Cidade Parque Guarapiranga, an economic-segment complex whose first development, Condomínio Rio Bonito, was launched in the previous quarter in partnership with Cury, with the overcoming of the suspensive clause in the period. It is worth noting that we continue to record a positive contribution from our stake in Construtora Adolpho Lindenberg, of approximately R$7 million, in this second quarter. 9.4% Of quarterly Net Income 24 9 21 34 10 17% 5% 18% 29% 9% 2Q25 3Q25 4Q25 1Q26 2Q26 R$ Million and percentage Cost adjustments in equity income projects impact the quarter’s results Quarterly evolution of Equity Income and its contribution to Net Income
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13 EARNINGS RELEASE 2Q26 RESULTS TO RECOGNIZE Period ended on June 30th, 2026 In thousands of Brazilian Reais – R$ 2Q26 1Q26 %Var 2Q25 %Var Total Results to be Recognized (Consolidated + Equity) 1,019,309 1,021,997 -0.3% 676,191 50.7% Margin to be Recognized (%) 38.5% 39.2% -0.8 p.p. 41.5% -3.0 p.p. Period ended on June 30th, 2026 In thousands of Brazilian Reais – R$ 2Q26 1Q26 %Var 2Q25 %Var CONSOLIDATED PROJECTS 688,290 684,802 0.5% 484,583 42.0% Margin to be Recognized (%) 38.0% 39.0% -1.0 p.p. 41.0% -3.0 p.p. Revenues to be Recognized - Units Sold 1,765,635 1,701,580 3.8% 1,141,994 54.6% Adjusted Present Value - Consolidated 47,286 55,670 -15.1% 41,223 14.7% Cost of Units Sold to be Recognized (1,124,631) (1,072,448) 4.9% (698,634) 61.0% Period ended on June 30th, 2026 In thousands of Brazilian Reais – R$ 2Q26 1Q26 %Var 2Q25 %Var EQUITY PROJECTS 331,019 337,195 -1.8% 191,608 72.8% Margin to be Recognized (%) 39.5% 39.8% -0.3 p.p. 42.8% -3.3 p.p. Revenues to be Recognized - Units Sold 835,311 845,296 -1.2% 446,143 87.2% Adjusted Present Value- Equity 2,015 1,537 31.1% 1,852 8.8% Cost of Units Sold to be Recognized (506,306) (509,638) -0.7% (256,386) 97.5% 485 544 598 685 688 41% 40% 38% 39% 38% 5,0% 10,0% 15,0% 20,0% 25,0% 30,0% 35,0% 40,0% 45,0% 0 200 400 600 800 2Q25 3Q25 4Q25 1Q26 2Q26 Higher sales of new launches have been expanding the Results to be Recognized Evolution of Backlog Results and Consolidated Backlog Margin R$ million and percentage Backlog results (Results to recognize) totaled R$1.0 billion in 2Q26, stable compared to 1Q26 and up 50.7% year -over-year. The dynamic in the period continues to benefit from the maintenance of the strong pace of recent launches, with emphasis on the 74% share of the semester's net sales coming from launches, which add units still in an early stage of construction to the backlog balance. The backlog margin (REF margin) reached 38. 5%, remaining at an elevated level consistent with the quality of the Company's most recent vintages and with the execution cycle of the developments, with a slight quarterly decline explained mainly by the reduction in net sales volume in the quarter. 38.0% Consolidated Margin to be recognized
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EARNINGS RELEASE 2Q26 14 RESULTS OF SPECIFIC EVENTS The Company has been carrying out active portfolio management initiatives, including asset monetization and rotation, with impacts on different lines of the income statement: (i) in the real estate operation, through the sale of land plots (Gross Profit), and (ii) in the divestiture of interests in SPEs (Other Operating Income/Expenses). These effects are presented separately to provide transparency and facilitate a comparable reading of the period's operational performance. Description of Specific Events in the Year Financial Impact SPE Income Statement Line Share of Operating Profit Quarterly Year-to-date 1Q26 +23,345 28.1% 16.4% Refund/compensation for a land purchase that did not go through +23,345 Ypê Revenue, costs and other expenses The refund/compensation for a land purchase not completed in a prior fiscal year, the risk of non -receipt of which had already been provisioned for, resulted in a contribution of R$18,623 to gross profit and in the reversal of the R$4,734 provision recorde d under "Other Income and Expenses." 2Q26 +10,997 18.5% 7.7% Sale of plot +10,997 Arambaré Revenue, costs and other expenses The sale of the land plot in Praia Grande resulted in a contribution of R$15,368, recorded in net revenue, with a cost of R$3 ,661, recorded in cost of goods sold, generating a contribution of R$11,707 to gross profit. An additional R$710 in expenses relate d to the sales affected Operating Income. Total +34,341 24.1% NOTE: Includes (i) results from the sale of land recorded under Revenue and Costs, and (ii) results from the disposal of interests in SPEs recorded under Other Operating Income/Expenses. These effects relate to items with variable occurrence and magnitude and do not necessarily represent future recurrence
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EARNINGS RELEASE 2Q26 15 FINANCIAL RESULTS Financial results in 2Q26 totaled R$67.4 million, an increase of 31.2% compared to the previous quarter. Performance in the period is mainly explained by higher returns on financial investments, favored by the expansion of the investment base and by the ev olution of financial indicators. On the revenue side, in addition to the performance of financial investments, the growth of the interest income on accounts receivable from clients line stands out, in line with the positive evolution of the receivables portfolio and with the variation of the indices to which the contracts are indexed — IGP-DI and IPCA, which recorded variations of 2.72% and 2.27% in the period, respectively. Conversely, financial expenses grew 20.0% compared to the previous quarter, with emphasis on interest and monetary variation expenses on the CRI -backed debentures issued throughout 2025, which contributed to the increase in both the financial investment base and the Company's indebtedness. Investments Income Financial investments are tied to CDBs and LFs, with remuneration rates ranging from 98% to 103% of the CDI. Interest in accounts receivable IGP-DI* and IPCA recorded variations of 2.72% q.o.q. and 2.27% q.o.q. in 2Q26, respectively, compared to 0.31% q.o.q. and 0.84% q.o.q. in 1Q26. Particular effects are also present, such as interest arising from the period between the handover of keys and the client's effective transfer to the financing bank. Period ended on June 30th, 2026 In thousands of Brazilian Reais – R$ 2Q26 1Q26 %Var 2Q25 %Var 1H26 1H25 %Var NET FINANCIAL RESULT 67,371 51,363 31.2% 34,006 98.1% 118,734 70,401 68.7% FINANCIAL REVENUES 101,576 79,861 27.2% 64,288 58.0% 181,437 115,218 57.5% Income from Financial Applications 54,935 50,292 9.2% 34,950 57.2% 105,227 60,149 74.9% Interest Income on Trade Accounts Receivable 42,136 25,492 65.3% 23,412 80.0% 67,628 43,797 54.4% Others (including active interest on overdue receivables) 4,505 4,077 10.5% 5,926 -24.0% 8,582 11,272 -23.9% FINANCIAL EXPENSES (34,205) (28,498) 20.0% (30,282) 13.0% (62,703) (44,817) 39.9% Interest and Passive Monetary Variations (33,252) (27,761) 19.8% (28,572) 16.4% (61,013) (42,471) 43.7% Discounts on Trade Accounts Receivable (899) (712) 26.3% (1,626) -44.7% (1,611) (2,208) -27.0% Others (54) (25) 116.0% (84) -35.7% (79) (138) -42.8% *IGP-DI and IPCA accumulated in the quarter, considering the two-month lag R$ Millon 64 55 75 80 102 30 17 24 28 34 2Q25 3Q25 4Q25 1Q26 2Q26 Higher interest rates and receivables portfolio growth drive results Quarterly Evolution of Financial Revenue and Expenses Revenue Expense
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EARNINGS RELEASE 2Q26 16 CASH & DEBTS In 2Q26, the Company recorded net cash consumption, mainly reflecting the payment of dividends in the period. Operations, however, generated cash, driven mainly by the development deliveries carried out in the quarter. In the period, R$115 million were allocated to the establishment of new direct receivables. The Company has been using financing balances contracted with commercial banks to fund the development of its projects. Additionally, part of the remaining balance of accounts receivable from completed units was not converted into cash generation in the quarter, having instead been allocated to the increase of the Company's Direct Receivables Portfolio. Period ended on June 30th, 2026 In thousands of Brazilian Reais – R$ 2Q26 1Q26 %Var 2Q25 %Var 1H26 1H25 %Var NET CASH (DEBT) 1,385 6,863 -79.8% (337,944) -100.4% 1,385 (337,944) -100.4% NET CASH (BURN) GENERATION (5,478) 154,306 -103.5% 59,730 -109.2% 148,828 28,006 431.4% Short-term Debt (607,798) (69,261) 777.5% (44,394) 1269.1% (607,798) (44,394) 1269.1% Long-term Debt (60,822) (530,501) -88.5% (801,326) -92.4% (60,822) (801,326) -92.4% Short-term Debentures (210,160) (52,075) 303.6% (17,190) 1122.6% (210,160) (17,190) 1122.6% Long-term Debentures (913,409) (1,062,530) -14.0% (668,803) 36.6% (913,409) (668,803) 36.6% Cash and Equivalents 72,863 42,563 71.2% 52,000 40.1% 72,863 52,000 40.1% Financial Investments 1,720,711 1,678,667 2.5% 1,141,769 50.7% 1,720,711 1,141,769 50.7% NET CASH GENERATION (BURN) EX-DIVIDEND AND BUYBACK 22,951 154,306 -85.1% 82,078 -72.0% 177,257 80,433 120.4% Cash Generation (Burn) (5,478) 154,306 -103.5% 59,730 -109.2% 148,828 28,006 431.4% Dividends Paid 28,429 - n.a. 22,348 27.2% 28,429 52,427 -45.8% Buyback of own shares - - n.a. - n.a. - - n.a. R$ 23.0 million Net Cash Variation ex-dividends in the quarter 1.794 1.792 1.194 1.532 Net Debt 338 Cash and Equivalents Debt Cash and Equivalents Debt 1H26 - 1H25 Annual Comparison of Debt/Net Cash Position R$ million EZTEC 1.532 SPEs 261 R$ million 14.6% of Cash Equivalents are under Property of Separation Net Cash +1
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EARNINGS RELEASE 2Q26 17 OPERATIONAL INDICATORS LAUNCHES LAUNCHES INFORMATION %EZ SPE Income Under Suspensive Clause Location Standard Expected Delivery # Launched Units Launched Priv. Area (sqm) Sold Area (%) ² PSV %EZ (R$ million) 1Q26 2,022 95,503 68.5% 924.7 Reserva São Caetano - Bosque - 2nd Phase 100% Campina Grande Consolidated No São Caetano do Sul Middle-end 1Q29 328 14,656 61.6% 155.0 Metropolitan by Lindenberg 70% Ilha Bela Consolidated No South Zone Middle-High end 2Q29 546 20,118 76.5% 227.0 Cidade Parque Guarapiranga - Rio Bonito 50% CCISA209 Equity No South Zone Low-end 3Q29 960 36,026 99.7% 146.0 Casa Nacional 100% Portland Consolidated Yes South Zone Middle-High end 4Q29 188 24,703 20.0% 396.7 2Q26 914 72,536 43.6% 773.0 Reserva São Caetano – GranResort – 1st phase 100% Campina Grande Consolidated Yes São Caetano do Sul Middle-end 4Q29 497 43,332 41.6% 457.0 Azzure Resort Life – 1st phase 100% Cristalina Consolidated Yes Osasco Middle-end 3Q29 211 18,608 54.9% 199.0 Reserva São Caetano - Bosque – 3rd Phase 100% Campina Grande Consolidated No São Caetano do Sul Middle-end 1Q29 206 10,596 31.9% 117.0 YEAR-TO-DATE 2,936 168,039 57.8% 1,697.7 R$ 773 million %EZ Quarter Launches 45% sold¹ GranResort Reserva São Caetano 58% sold¹ Azzure Resort Life 40% sold¹ Reserva São Caetano Bosque – 3rd Phase 773 925 783 475490 2Q261Q264Q253Q252Q25 R$ million The company increases its launch PSV by 57.8% vs 2Q25 Yearly Evolution of the PSV of launches %EZ Low-End 146 Middle-end 928 Middle-end 490 Middle-High end 624 Middle-High end 298 High-end 318 1H26 1H25 R$ million With mid-income launches, the Company delivers its best first half in its history Comparison between launch profiles ¹ Considering % of private area sold of the Project until the dat e of this disclosure. 2 Considering % of private area sold of the Project until the end of the quarter.
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EARNINGS RELEASE 2Q26 18 PROJECT DELIVERIES The Company delivered two middle -high-end and high -end developments in 2Q26 – East Blue Tatuapé (83.5% sold) and Lindenberg Ibirapuera (79.7% sold) – totaling R$ 775 million in PSV in the quarter. The deliveries took place on schedule and with construction cost savings, reinforcing the Company’s execution discipline and cost control. Throughout 1H26, 3 developments were delivered, totaling R$ 951 million in PSV in the half -year, of which 80.2% of the units have already been sold. DELIVERY SCHEDULE % Eztec SPE Income Standard Sold private area (%) PSV %EZ (R$ MM) 1Q26 77.10% 176 Chanés Street 100% Barcelona Consolidated High-end 77.10% 176 2Q26 81.10% 775 East Blue 100% Jacareí Consolidated Middle- high end 83.50% 175 Lindenberg Ibirapuera – Art Tower 80% Caldas Novas Consolidated High-end 61.60% 300 Lindenberg Ibirapuera – Design Tower 80% Caldas Novas Consolidated High-end 97.80% 300 YEAR-TO-DATE 80.20% 951 80% Of the units sold* Lindenberg Ibirapuera (2023) *Considering the average % of private area sold | We removed the projects that were 100% transferred to Construtora Adolpho Lindenberg in 2025 100% 99% 95% 80% 80% 76% 64% 64% 20% 768 1.828 468 2.603 951 626 2.341 2.300 397 2022 2023 2024 2025 2026 2027 2028 2029 2030 R$ million %Sold PSV in Inventory Of the deliveries made in 1H26, 80% of the units have already been sold Annual evolution of delivered PSV and its sold percentage as a percentage of the usable area R$ 7.7 billion In PSV across 17 active projects Including the commercial assets under construction of Esther Towers and Air Brooklin Comercial
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EARNINGS RELEASE 2Q26 19 SALES & CANCELLATIONS With R$1.3 billion in net sales, 1H26 consolidates itself as the best first half of sales in the Company's history . In 2Q26, sales grew 18.2% vs. 2Q25, mainly reflecting the acceleration of launch sales, which posted an increase of 59.4% compared to the same period last year. Sales of ready-to-move-in developments also contributed, with an increase of 17.4% year-over-year. The consistent performance of launches in the middle -income segment reinforces the Company's str ategic focus on this target audience. Following a conceptual review — which now considers only the cancellation of sales that have been signed and paid — cancellations (distratos) totaled R$59 million, up 13.1% year-over-year, reflecting the strong volume of recent launch sales. Net SoS (Sales over Supply) reached 14.8% in the quarter, with a 12-month average of 42.6%. Period ended on June 30th, 2026 In thousands of Brazilian Reais – R$ 2Q26 1Q26 %Var 2Q25 %Var 1H26 1H25 %Var NET SALES BY STANDARD 577,572 697,071 -17.1% 488,563 18.2% 1,274,643 865,497 47.3% Launch 408,145 530,374 -23.0% 256,047 59.4% 938,519 450,474 108.3% Performed 101,124 102,340 -1.2% 86,121 17,4% 203.465 143,247 42.0% Under Construction 68,303 64,357 6.1% 146,395 -53,3% 132,660 271,777 -51.2% Launch sales accounted for 70.7% of the quarter's net sales, the main driver of commercial performance in 2Q26. A highlight was Azzure Resort Life, with R$109 million in sales in the quarter (%EZ). These results reflect the success of the Company's strategy to expand its operations beyond the city of São Paulo. The semester also registered progress in sales of ready and under -construction inventory, driven by the "Gol de Milhas " and "Selection" campaigns, which offered special conditions in which each real spent on the purchase of a unit could be converted into Smiles miles. The ratio of cancellations to net sales closed the quarter at 0.10x, in line with the Company's historical levels, reinforcing the resilience of demand and the consistency of the portfolio. 697 578 377 489 526 556 1Q 2Q 3Q 4Q R$ Million 1H26 marks a record sales peak driven by new launches Comparative quarterly evolution of net sales R$ 578 million Net Sales % Eztec 35 13 32 17 3 52 5 10 343 64 1 Middle-end Middle-High end High-end Smart-Living Low-End Commercial R$ million Performed Under Construction Launch Sales Description (2Q26) 97% of the Sales in the 2Q26 are consolidated 0% 20% 40% 60% 80% 100% Consolidated x Equity (2Q26)
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EARNINGS RELEASE 2Q26 20 Period ended on June 30th, 2026 In thousands of Brazilian Reais – R$ 2Q26 1Q26 %Var 2Q25 %Var 1H26 1H25 %Var Cancellations (R$ million) 58,609 44,899 30.5% 51,839 13.1% 103,507 85,575 21.0% Downgrade - 2,821 -100.0% 1,448 -100,0% 2,821 5,379 -47.6% Upgrade - 4,853 -100.0% 1,390 -100,0% 4,853 1,693 186.7% Transfer 439 735 -40.2% - n.a 1,174 - n.a Adjusted Cancellations 58,169 36,491 59.4% 49,001 18.7% 94,660 78,504 20.6% Net Sales (R$ million PSV) 577,572 697,071 -17.1% 488,563 18.2% 1,274,643 865,497 47.3% # Units Sold 794 2,003 -60.4% 779 1.9% 2,797 1,300 115.2% Average Price Per Unit (R$ thousand) 761 491 55.2% 754 0.9% 567 788 -28.0% Cancellations/ Net Sales 0.10x 0.06x 57.5% 0.11x -4.4% 0.08x 0.10x -17.9% Net SoS (%) 14.8% 18.2% -3.3 p.p 15.2% -0.4 p.p 27.8% 24.1% 3.6 p.p Net Sos LTM (last 12 months) % 42.6% 42.8% -0.2 p.p 39.3% 3.3 p.p 42.6% 39.3% 3.3 p.p * Cancellations excluded Downgrades, Upgrades and transferred units Percentage % This quarter, the Company updated its cancellations (distratos) methodology. Previously, two indicators were disclosed: cancellations and adjusted cancellations, which excluded only upgrades, downgrades, and transfers, but still included non-materialized sales — sales in which the client signed the purchase and sale agreement but did not pay the initial installment (ato), a nd consequently had their contract canceled. From now on, we will disclose cancellations excluding non-materialized sales, reflecting only the cancellation of contracts for clients who had already made payments. The historical series was retroactively adjusted to reflect this new view. 52 60 70 45 59 0,11x 0,11x 0,13x 0,06x 0,10x 0,00x 0,02x 0,04x 0,06x 0,08x 0,10x 0,12x 0,14x 2Q25 3Q25 4Q25 1Q26 2Q26 Cancellations Cancellations/Net Sales Cancellations remain stable reflecting the higher volume of sales Quarterly evolution of cancellations 43%43% 40%40%39% 2Q261Q264Q253Q252Q25 Net Sales Speed (SoS) Evolution - LTM (last 12 months) * Cancellations excluding Downgrades, Upgrades and transferred units
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EARNINGS RELEASE 2Q26 21 DIRECT RECEIVABLE PORTFOLIO In 2Q26, the volume financed directly by the Company totaled R$756 million, an increase of 14.4% quarter-over-quarter, with 1,819 active units. This progress reflects the consistent execution of the commercial strategy focused on offering in -house financing, in a scenario of selective mortgage credit and high interest rates. The Company continues to offer competitive conditions for the sale of its ready inventory, with rates indexed to IPCA or IGP-DI and terms of up to 360 months. The portfolio's average rate closed the quarter at 10.4% p.a. + IGP -DI/IPCA, while default rates stood at 2.3% ( -0.3 p.p. q/q). 61% of the balance will be amortized over the next five years, reinforcing the balanced liquidity profile and the predictability of receipts. R$ 756 million (%EZ) 1,819 units, totaling R$807 million *Delays longer than 90 days are considered overdue or in default. 10.4% + IGP-DI/IPCA Average interest rate composition 138 93 196 329 8,0% 9,0% 10,0% 12,0% Interest Rates 318 438 IPCA IGPDI Adjustment Indexes 384 363 387 496 615 756 185 57 (98) (3) 2021 2022 2023 2024 2025 Origination Yield Payments Foreclosure 1H26 R$ million Currently 1,819 units are financed directly by Eztec Evolution of the Direct Receivable Portfolio 18 76 123 98 80 66 55 46 39 32 27 97 Past Due* 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2035+ R$ million 61% of the portfolio to be amortized within the next 5 years; current delinquency at 2.3%* Annual installment payment schedule
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EARNINGS RELEASE 2Q26 22 INVENTORY More details in the appendix: Inventory by Project R$ 3,313 million Company’s total inventory PSV %EZ The Company has approximately R$2 billion in PSV in commercial projects under construction. A corporate office tower project has its own particularities, including the possibility of selling or leasing the building, either in full or in fractions. These transactions are more likely to occur closer to the delivery date of the developments. 2,876 3,138 773 (578) (20) 3,313 2025 1Q26 Launches Net Sales Price Variations 2Q26 R$ million Total inventory level reflects a strong pace of launches and solid sales performance Variation in Total Inventory Launches R$943 Under Construction R$1,165 Performed R$1,205 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Inventory under construction now accounts for 35% of Total Inventory Inventory by project status 1.068 1.034 764 218 118 110 Middle-end High-end Middle-High end Smart-Living Commercial Low-End R$ million PSV of Inventory by Standard - %EZTEC 32% of the inventory is middle-end residential 885 149 135 6 23 7 688 179 28 116 - 340 347 65 - 86 - 259 South Zone East Zone West Zone Osasco Guarulhos Others R$ million Performed Under Construction Launches PSV of inventory by Region- %EZTEC 59% of inventory under construction is in the South Zone 3,194 118 Esther Towers 1,900 Air Brooklin Commercial R$ 135 Residential Commercial Other assets under development The Company's Residential Inventory amounts to R$ 3,194 million R$ million
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EARNINGS RELEASE 2Q26 23 LANDBANK 1Managerial value based on current best assumptions The landbank posted an increase of 3.5% in the quarter, reaching R$9.0 billion in PSV. The balance reflected the consumption of R$773 million with the quarter's residential launches, offset by (i) the acquisition of new land plots, (ii) feasibility adjustments to land already in the portfolio, and (iii) positive price adjustments. The landbank continues to be composed predominantly of proprietary assets (78%), distributed across São Paulo and its metropolitan region, with 81% of the land plots presenting PSV above R$200 million. GREATER SÃO PAULO R$ million High-end Medium-high-end Medium-end Low-end Commercial TOTAL EAST ZONE - - 843 813 - 1,656 WEST ZONE - - 1,429 - - 1,429 NORTH ZONE - - - - - - SOUTH ZONE - 2,377 240 829 241 3,687 MOGI DAS CRUZES - - - 165 - 165 OSASCO - 211 676 506 - 1,394 SÃO CAETANO - - 682 - - 682 2Q26 2,589 3,870 2,313 241 9,012 Acquisition Options 3,210 2026E 5,799 3,870 2,313 241 12,222 R$ 9.0 billion In PSV for Future Projects % Eztec MAP R$6,459 Low-end R$2,313 Commercial R$241 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% R$ million Future launches are quite diversified between MAP (71%), LOW-END (26%) and COMMERCIAL (3%) Landbank by market segment 8.708 ( 773 ) 748 329 9.012 3.210 12.222 1Q26 Launches Acquisitons Price Variation 2Q26 Resolutive Clauses¹ 2026E Landbank totals R$ 9 billion after launches and changes in the Landbank Evolution of the Landbank and future projects
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EARNINGS RELEASE 2Q26 24 East of São Paulo’s City Own R$ 7.0 bi 78% With Partner R$ 1.9 22% South West East North Downtown São Caetano São Paulo’s Metropolitan Region 5 plots R$ 1.4 Bi 2 plots R$ 682 Mn 4 plots R$ 1.7 Bi 1 plot R$ 1.4 Bi 8 plots R$ 3.7 Bi Osasco Mogi Das Cruzes 1 plot R$ 165 Mn 7 0 1 3 13 4 Under Development < R$ 50 million R$50 - R$100 million R$100 - R$200 million R$200 - R$500 million > R$500 million 81% of the land plots have a PSV greater than R$200 million Quantity of Land Plots by PSV 1 1 1 0 0 1 0 3 2 0 0 0 0 3 8 3 0 1 2 1 1 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Quantity The weighted average duration by PSV of the land is 9.8 years Number of land plots by year of acquisition
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EARNINGS RELEASE 2Q26 25 CAPITAL MARKET ADDITIONAL VALUE In this section, we seek to highlight, through a synthesis of the reviewed accounting and managerial information, the intrinsic equity value of the Company and of EZ INC, its subsidiary, not yet fully reflected in the financial statements. It is important to emphasize that the figures used, related to Eztec’s business outlook, projections, and operational and financial targets, are based on the beliefs and assumptions of the Company’s management, as well as on information currently available. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties, and assumptions, as they refer to future events and therefore depend on circumstances that may or may not occur. Period ended on June 30th, 2026 In thousands of Brazilian Reais – R$ Eztec 2Q26 Eztec 1Q26 %Var EZ INC 2Q26 Eztec Ex-EZ INC Controlling Shareholder’s Equity 5,232,252 5,150,245 1.6% 1,305,818 3,926,434 Net Worth per share (a) R$ 18.86 R$ 18.57 1.6% R$ 4.71 R$ 14.16 Adding OFF-BALANCE Values 1,019,309 1,021,997 -0.3% - 1,019,309 (+) Result to be recognized (Consolidated) 688,290 684,802 0.5% - 688,290 (+) Result to be recognized (Equity) 331,019 337,195 -1.8% - 331,019 Addition of OFF-BALANCE values per share (b) R$ 3.68 R$ 3.68 -0.3% - R$ 3.68 "Subtotal with added values" per share (c = a + b) R$ 22,54 R$ 22,25 1.3% R$ 4,71 R$ 17,83 Projection of the possible addition given the execution of the strategy 2,344,884 2,111,545 11.1% 814,000 1,530,884 (+) Expected future value by selling the inventory at the current expected price 1,530,884 1,297,545 18.0% - 1,530,884 (+) Corporate Assets under construction Esther Towers + Air Brooklin Corporate 814,000 814,000 - 814,000 - Expected addition of inventory liquidation to current values and sale of corporate projects (d) R$ 8.45 R$ 7.61 11.1% R$ 2.93 R$ 5.52 "Subtotal with added values" per share (e = c + d) R$ 30.99 R$ 29.87 3.8% R$ 7.64 R$ 23.35 (+) Expected future value by the preparation of the landbank and sale of its units 2,800,424 2,864,177 -2.2% - 2,800,424 Expected addition of execution and future settlement of landbank projects (f) R$ 10.10 R$ 10.33 -2.2% - R$ 10.10 Equity value with the addition of the values and projections R$ 11,396,868 R$ 11,147,965 2.2% R$ 2,119,818 R$ 9,277,051 "Equity value with addition and projections” per share (g = e + f) R$ 41.09 R$ 40.19 2.2% R$ 7.64 R$ 33.45 Quantity of shares (ex-Treasury) 277,359,027 277,359,027 - 277,359,027 277,359,027 (+) Total shares 277,359,027 281,000,000 -1.3% 277,359,027 277,359,027 (-) Shares held by Treasury - (3,640,973) -100.0% - - *Due to the new classification approach for EZ INC’s assets under construction, we chose to introduce a new line item, leavin g the expected contribution from these projects separately disclosed. R$ 18.86 Company’s Book Value per Share
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EARNINGS RELEASE 2Q26 26 INTERNAL CONSENSUS In order to provide greater transparency to investors regarding the Company’s expected results, we have prepared this section with information on the main financial metrics collected from sell-side analysts who cover the Company. It is important to emphasize that the figures presented below, related to Eztec’s business outlook, were generated exclusively by the analysts and gathered by the Investor Relations team through consultations conducted. Endnotes: Note 1 – Consensus is calculated using the median of analyst’s estimates Note 2 – Figures noted are the latest collected by Eztec from analysts, estimates may have changed since the last consultation Note 3 – Blank values have not been provided or confirmed by analysts and have therefore been excluded from the table and the median calculation Financial Indicators 2Q26 Consensus Min Max Eztec 2Q26 Bank 1 Bank 2 Bank 3 Bank 4 Bank 5 Bank 6 Bank 7 Bank 8 Bank 9 Bank 10 Net Revenue 383.5 309.0 448.0 376.7 309.0 396.5 447.3 340.0 336.3 376.5 420.9 383.0 383.9 448.0 Gross Margin 37.0% 35.9% 38.9% 39.7% 37.4% 35.9% 38.7% 38.9% 36.0% 36.4% 36.3% 37.5% 38.5% 36.5% EBIT 91.6 55.7 127.2 59.4 57.0 99.2 100.9 97.1 56.4 55.7 127.2 86.0 72.5 107.0 Net Income 110.0 84.3 153.0 110.4 94.0 122.8 127.3 108.0 84.3 112.0 153.0 108.0 100.7 139.0 Net Margin 30.0% 25.1% 36.4% 29.3% 30.2% 31.0% 28.5% 31.8% 25.1% 29.7% 36.4% 28.1% 26.2% 31.0% Cash (Burn) Generation 83.0 -138.9 177.6 -5.5 127.0 87.0 -138.9 - 177.6 71.1 -2.9 83.0 53.1 123.0 Financial Indicators 2026 Consensus Average Min Max Bank 1 Bank 2 Bank 3 Bank 4 Bank 5 Bank 6 Bank 7 Bank 8 Bank 9 Bank 10 Net Revenue 1,754.9 1,711.5 1,454.0 1,818.0 1,454.0 1,764.0 1,778.1 1,731.5 1,745.9 1,764.0 1,796.5 1,543.0 1,719.6 1,818.0 Gross Margin 37.9% 38.2% 36.9% 40.0% 37.7% 37.0% 38.9% 39.8% 39.3% 38.0% 36.9% 37.4% 40.0% 37.1% EBIT 407.1 411.8 323.0 552.7 323.0 431.5 407.4 413.2 406.7 346.6 552.7 352.0 401.1 484.0 Net Income 523.0 527.3 427.0 662.1 448.0 524.2 526.0 505.2 499.8 539.3 662.1 427.0 521.8 620.0 Net Margin 30.0% 30.8% 27.7% 36.9% 30.8% 29.7% 29.6% 29.2% 28.6% 30.6% 36.9% 27.7% 30.3% 34.1% Cash (Burn) Generation 18.7 40.9 -323.0 367.0 367.0 -2.8 177.0 210.1 -69.9 40.1 -155.4 314.0 -148.2 -323.0
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27 4T23 INVESTOR RELATIONS A. EMÍLIO C. FUGAZZA Chief Financial Officer and IR Officer PEDRO TADEU T. LOURENÇO Corporate Finance and IR Manager RAFAEL CAMPANELLI IR Coordinator CHRISTIAN L. DE MELO IR Specialist MARINA FERREIRA IR Analyst RICARDO PENA IR Intern ANNEXES >> All the data in this Earnings Release, including the data in the annexes, is available for consultation in the supporting spreadsheets on our investor relations website: https://ri.eztec.com.br/en/investor-relations/valuation-data/ 2Q26
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EARNINGS RELEASE 2Q26 28 ANNEXES INVENTORY BY PROJECT Inventory by Year of Lauch PSV Launch # Lauched Units # Units in Inventory PSV Returned from direct receivable portifolio Private Area in Inventory TOTAL Inventory Total 19,597,450,730 31,980 3,592 16,130,955 3,312,816,272 1999 16,982,000 216 - - 0.0% 50,000 Prime House Ipiranga 16,982,000 216 - - 0.0% 2009 511,840,700 763 - 2,071,458 0.0% 2,641,458 Supéria Moema 54,400,000 153 - - 0.0% Capital Corporate Office 235,400,000 450 - 2,071,458 0.0% Supéria Paraíso 47,999,700 160 - - 0.0% 2010 896,440,000 578 - - 0.0% 97,600 Massimo Residence 28,800,000 108 - - 0.0% Up Home 63,700,000 156 - - 0.0% Sky 136,620,000 314 - - 0.0% 2011 1,157,450,000 1,597 10 3,670,025 0.5% 19,109,495 NeoCorporate Offices 182,000,000 297 10 - 6.7% Trend Paulista Offices 89,250,000 252 - 725,115 0.0% Supéria Pinheiros 67,000,000 108 - - 0.0% Still Vila Mascote 37,150,000 150 - - 0.0% Royale Merit 50,920,000 160 - 1,392,538 0.0% Up Home Vila Carrão 71,300,000 156 - 874,592 0.0% Gran Village São Bernardo 167,100,000 474 - 677,781 0.0% 2012 1,166,237,500 2,420 6 3,380,635 0.2% 8,720,688 Neo Offices 40,800,000 96 - - 0.0% Bosque Ventura 103,460,000 450 1 1,578,857 0.2% Massimo Nova Saúde 59,100,000 108 - - 0.0% In Design 108,900,000 422 - - 0.0% The View Nova Atlântica 81,000,000 200 - 50,000 0.0% Green Work 140,200,000 378 4 293,052 2.0% Up Home Santana 49,000,000 96 - 838,823 0.0% Parque Ventura 140,770,000 508 1 619,903 0.2% Brasiliano 33,705,000 162 - - 0.0% 2013 1,261,255,000 2,588 79 4,706,537 2.4% 101,679,917 EZ Mark 333,800,000 323 78 - 26.5% Centro Empresarial Jardins do Brasil 67,210,000 848 - 293,890 0.0% Quality House Ana Costa 109,200,000 238 - 1,558,757 0.0% Cidade Maia - Alameda 89,040,000 448 - 433,490 0.0% Cidade Maia - Praça 147,350,000 451 1 1,524,681 0.3% Cidade Maia - Jardim 115,850,000 280 - 895,718 0.0% 2014 784,123,000 1,536 2 2,302,300 0.2% 5,768,438 Cidade Maia - Botânica 182,770,000 566 - 1,458,415 0.0% Cidade Maia - Reserva 128,450,000 224 1 - 0.5% Le Premier Flat Campos do Jordão 119,400,000 108 1 - 1.1% Prime House Parque Bussocaba 119,860,000 568 - 843,885 0.0% Legítimo Santana 49,800,000 70 - - 0.0% 2016 204,650,000 129 - - 0.0% 50,000 Up Home Vila Mascote 61,300,000 129 - - 0.0% 2017 343,300,000 268 - - 2.1% 6,438,750 In Design Liberdade 67,800,000 114 - - 3.0% Verace Brooklin 82,300,000 48 - - 0.0% Clima São Francisco 68,700,000 106 - - 4.7% 2018 753,450,053 1,879 24 - 1.5% 19,108,290 Z.Cotovia 105,500,000 199 1 - 0.2% Vertiz Tatuapé 106,120,053 200 - - 0.0% Fit Casa Brás 125,930,000 979 3 - 0.3% Sky House 68,300,000 115 18 - 15.5% Z.Pinheiros 188,200,000 386 2 - 0.5%
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EARNINGS RELEASE 2Q26 29 2019 1,897,772,490 2,922 10 - 0.9% 36,790,650 Le Jardin Ibirapuera 71,600,000 22 1 - 4.0% Fit Casa Rio Bonito 141,600,000 560 1 - 0.2% Pátrio Ibirapuera 198,711,240 54 - - 0.0% ID Lisboa 28,700,000 105 - - 9.1% PIN Internacional 162,500,000 1,416 1 - 0.1% ID Jauaperi 37,000,000 169 - - 5.8% EZ Parque da Cidade 576,400,000 244 7 - 2.7% Jardins do Brasil - Reserva JB - 2ª Fase 130,200,000 352 - - 0.7% 2020 1,150,700,000 3,627 104 - 4.3% 82,363,048 Fit Casa Alto do Ipiranga 80,900,000 370 2 - 0.6% Air Brooklin 364,600,000 663 1 - 3.0% Z.Ibirapuera 118,600,000 172 29 - 15.6% Giardino Gran Maia 101,600,000 322 15 - 5.1% Piazza Gran Maia 104,200,000 192 6 - 2.9% Fit Casa Estação José Bonifácio 135,100,000 894 45 - 5.6% Signature 97,250,000 104 4 - 5.1% Eredità 70,900,000 136 2 - 6.8% Meu Mundo Estação Mooca 77,550,000 774 - - 0.8% 2021 1,231,200,000 1,950 292 - 19.5% 320,559,272 ID Paraíso 28,100,000 231 - - 18.6% Dream View Sky Resort 252,700,000 420 106 - 26.2% Arkadio 459,900,000 276 70 - 24.6% Fit Casa Estação Oratório 15,600,000 80 - - 25.9% In Design Ipiranga 66,500,000 150 55 - 35.4% Pin Osasco - 1ª Fase 41,300,000 351 2 - 0.8% Unique Green - 1ª Fase 367,100,000 442 59 - 13.5% 2022 1,783,400,000 2,163 418 - 16.6% 437,396,012 Exalt 228,400,000 433 111 - 22.9% Expression 176,900,000 80 4 - 5.6% Hub Brooklin 182,200,000 412 149 - 42.1% Haute Brooklin 232,200,000 104 17 - 15.6% Unique Green - 2ª Fase 410,200,000 443 58 - 12.7% Pin Osasco - 2ª Fase 43,500,000 351 4 - 1.5% Park Avenue 250,000,000 90 19 - 40.5% Chanés Street 175,900,000 250 56 - 25.6% 2023 775,000,000 211 41 - 20.8% 164,106,254 East Blue 175,000,000 123 23 - 21.2% Lindenberg Ibirapuera - Art Tower 300,000,000 44 17 - 39.1% Lindenberg Ibirapuera - Design Tower 300,000,000 44 1 - 2.2% 2024 1,601,949,987 2,078 423 - 28.7% 407,716,442 Mooca Città - Firenze 84,800,000 186 38 - 20.3% Mooca Città - Milano 129,700,000 168 71 - 41.0% Lindenberg Vista Brooklin 243,000,000 65 31 - 46.7% Villares Parada Inglesa 137,824,987 373 10 - 3.0% Brooklin Studios by Lindenberg 50,625,000 207 - - 0.9% Lindenberg Alto das Nações 541,000,000 216 45 - 26.1% Dot.230 153,000,000 280 45 - 17.5% Connect João Dias 70,000,000 476 148 - 32.3% Lindenberg Reserva Paraíso 192,000,000 107 35 - 54.8% 2025 2,364,000,000 4,119 1,311 - 36.4% 872,708,168 Agami Park Residences 318,000,000 45 33 - 72.9% SP 360 298,000,000 780 62 - 9.1% Lume House 165,000,000 257 178 - 69.5% Alt Studios 107,000,000 265 83 - 32.6% Moved Osasco 218,000,000 357 83 - 23.9% Blue Marine 365,000,000 704 156 - 22.9% Pop Osasco 110,000,000 473 268 - 56.9% Reserva São Caetano - Parque 569,000,000 790 205 - 25.5% Reserva São Caetano - Bosque - 1st Phase 112,000,000 214 79 - 44.0% Mooca Città - Torino 102,000,000 234 164 - 68.6% 2026 1,697,700,000 2,936 873 - 42.2% 827,511,791 Metropolitan by Lindenberg 227,000,000 546 72 - 23.5% Casa Nacional 396,700,000 188 152 - 80.0% Cidade Parque Guarapiranga – Cond. Rio Bonito 146,000,000 960 1 - 0.3%
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EARNINGS RELEASE 2Q26 30 Reserva São Caetano - Bosque - 2nd Phase 155,000,000 328 111 - 38.4% Reserva São Caetano - GranResort - 1st Phase 457,000,000 497 307 - 58.4% Azzure Resort Life - 1st Phase 199,000,000 211 98 - 45.1% Reserva São Caetano - Bosque - 3rd Phase 117,000,000 206 132 - 68.1% PoC EVOLUTION Project 06/2025 09/2025 12/2025 03/2026 06/2026 2021 Dream View Sky Resort and Fit Estação Oratório 100% 100% 100% 100% 100% Arkadio 88% 91% 100% 100% 100% In Design Ipiranga 100% 100% 100% 100% 100% Unique Green 93% 100% 100% 100% 100% Pin Osasco 100% 100% 100% 100% 100% 2022 Vila Nova Fazendinha 100% 100% 100% 100% 100% Expression and Exalt 89% 100% 100% 100% 100% Haute e Hub Brooklin 89% 100% 100% 100% 100% Chanés Street 70% 82% 91% 100% 100% Park Avenue 90% 94% 100% 100% 100% 2023 East Blue Tatuapé 59% 70% 81% 89% 100% Lindenberg Ibirapuera 84% 88% 92% 95% 100% 2024 Mooca Città - Firenze 21% 31% 44% 52% 68% Mooca Città - Milano 21% 29% 39% 45% 58% Lindenberg Vista Brooklin 32% 33% 37% 41% 47% Villares Parada Inglesa 27% 32% 36% 42% 51% Lindenberg Alto das Nações 40% 43% 48% 53% 59% Dot.230 35% 35% 38% 41% 48% Connect João Dias 26% 26% 39% 39% 39% Lindenberg Reserva Paraíso 36% 39% 41% 44% 48% 2025 SP 360 31% 31% 32% 34% 39% Agami Park Residences 39% 39% 40% 41% 44% Alt Studios 0% 27% 29% 31% 34% Lume House 0% 17% 19% 24% 30% Moved Osasco 0% 17% 20% 25% 30% Blue Marine 0% 30% 30% 30% 33% Pop Osasco 0% 0% 6% 8% 11% Reserva São Caetano - Parque 0% 0% 13% 14% 17% Reserva São Caetano - Bosque 0% 0% 0% 0% 16% Mooca Città – Torino 0% 0% 0% 0% 13% 2026 Metropolitan by Lindenberg 0% 0% 0% 29% 30% Cidade Parque Guarapiranga – Condomínio Rio Bonito 0% 0% 0% 12% 13%
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EARNINGS RELEASE 2Q26 31 REVENUE BY PROJECT Project % Eztec Accumulated Gross Revenue 2012 Neo Offices 100% 41,282 Bosque Ventura 85% 180,166 Terraço do Horto 100% 11,994 Massimo Nova Saúde 100% 68,641 In Design 100% 118,831 The View Nova Atlântica 100% 98,351 Green Work 100% 136,201 Up Home Santana 100% 51,377 Chácara Cantareira 100% 181,277 Prime House São Bernardo 100% 171,016 Parque Ventura 85% 231,817 Jardins do Brasil - Abrolhos 76% 200,653 Jardins do Brasil - Amazônia 85% 238,894 Brasiliano 90% 76,595 Dez Cantareira 50% 23,201 2013 EZ Towers 100% 1,320,830 Le Premier Paraíso 100% 97,643 Premiatto Sacomã 100% 64,338 Splendor Vila Mariana 100% 72,447 EZ Mark 100% 251,152 Jardins do Brasil - Mantiqueira 76% 199,754 Centro Empresarial Jardins do Brasil 76% 202,625 Massimo Vila Mascote 100% 143,661 Quality House Ana Costa 100% 129,069 Cidade Maia - Alameda 100% 156,959 Cidade Maia - Jardim 100% 224,310 Cidade Maia - Praça 100% 274,211 2014 Cidade Maia - Botânica 100% 367,756 Cidade Maia - Reserva 100% 231,186 Magnífico Mooca 63% 68,243 San Felipe - Palazzo 100% 55,400 San Felipe - Giardino 100% 105,453 Prime House Parque Bussocaba 100% 202,516 Le Premier Flat Campos do Jordão 100% 137,752 Legítimo Santana 100% 62,878 2015 Splendor Ipiranga 100% 82,615 Massimo Vila Carrão 100% 55,222 Jardins do Brasil - Atlântica 76% 223,300 2016 Le Premier Moema 50% 54,561 Splendor Brooklin 100% 100,054 Up Home vila Mascote 100% 66,318 2017 Legittimo Vila Romana 100% 55,146 In Design Liberdade 100% 76,949 Verace Brooklin 100% 95,662 Clima São Francisco 100% 74,798 2018 Z.Cotovia 100% 111,872 Vertiz Tatuapé 100% 132,020 Sky House 100% 77,056 Fit Casa Brás 70% 148,197 Diogo Ibirapuera 100% 156,066 Z.Pinheiros 100% 224,135 2019 Le Jardin Ibirapuera 100% 79,370 Vértiz Vila Mascote 100% 124,205 Fit Casa Rio Bonito 100% 165,055 Vivid Perdizes 100% 85,420
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EARNINGS RELEASE 2Q26 32 Pátrio Ibirapuera 70% 287,441 Artis Jardim Prudência 100% 61,989 Haute Ibirapuera 100% 175,311 Jardins do Brasil - Reserva JB 76% 343,519 EZ Parque da Cidade 100% 716,678 2020 Air Brooklin 100% 457,394 Fit Casa Alto do Ipiranga 100% 102,253 Z.Ibirapuera 100% 126,732 Giardino Gran Maia 100% 126,978 Piazza Gran Maia 100% 145,688 Fit Casa Estação José Bonifácio 100% 190,199 Signature 50% 147,689 Eredità 50% 87,771 2021 Dream View Sky Resort 100% 241,656 Unique Green 100% 807,552 In Design Ipiranga 100% 46,759 Arkadio 100% 421,664 2022 Expression and Exalt 100% 399,094 Haute and Hub Brooklin 100% 352,562 Park Avenue 50% 169,744 Chanés Street 100% 140,282 2023 East Blue 100% 161,918 Lindenberg Ibirapuera 80% 432,723 2024 Villares Parada Inglesa 75% 76,164 Mooca Città – Firenze 50% 52,722 Mooca Città – Milano 50% 45,794 Lindenberg Vista Brooklin e Brooklin Studios 50% 58,675 Dot.230 100% 65,000 Lindenberg Alto das Nações 90% 240,535 2025 Agami Park Residences 100% 35,870 SP 360 100% 111,732 Lume House 100% 14,585 Alt Studios 100% 23,913 Moved Osasco 100% 49,756 Blue Marine 100% 91,638 Reserva São Caetano (Consolidated) 100% 101,679 2026 Metropolitan by Lindenberg 70% 50,434
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EARNINGS RELEASE 2Q26 33 CASH FLOW Period ended on June 30th, 2026 In thousands of Brazilian Reais – R$ 1H26 Net Income 243,523 Adjustments to Reconcile Net Income to Net Cash Used in (Provided by) Operating Activities (117,123) Present Value Adjustment Net of Taxes (1,923) Monetary Variation and Interest, Net (107,107) Amortization of Goodwill and Fair Value Adjustments 2,469 Depreciation and Amortization 7,518 Equity Income (44,642) Income Tax and Social Contribution, Current and Deferred 17,703 Reserve for Contingencies - Allowance for Doubtful Accounts and Provision for Contract Cancellation (5,953) Financial Expenses 14,813 Increase (decrease) in Operating Assets: 80,445 Trade Accounts Receivables 153,222 Real Estate Held for Sale (78,426) CEPAC Acquisition - Other Assets 5,649 Increase (decrease) in Operating Liabilities: (46,156) Advances from Customers 18,068 Trade Payables (1,361) Other Liabilities 3,815 Dividends Received from Jointly Controlled Entities 34,312 Income Tax and Social Contribution Paid (23,455) Interest Paid (77,535) Net Cash provided by (used in) Operating Activities 160,689 Cash Flow from Investing Activities: (155,024) Short Term Investments (1,062,407) Proceeds From Maturities 943,590 Return of Capital – Cash Effect 5,963 Acquisition of Investments (13,378) Acquisition of Fixed Assets (28,792) Net Cash Used in Investing Activities (155,024) Cash Flow from Financing Activities: 623 Proceeds from loans, Financing and Debentures 193,786 Repayment of Loans and financing (142,432) Effect of non-controlling interests in Subsidiaries (19,851) Related Parties (2,451) Dividends Paid (28,429) Net Cash provided by Financing Activities 623 Dilution in cash and cash equivalents 6,288 Balance at Beginning of Period 66,575 Balance at End of Period 72,863