Earnings release
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2Q26 EARNINGS Grupo Fleury YEARS FUTURE BUILT ON SCIENCE AND TRUST Revenue grows 14,4 % and reaches R $ 2,5 bi , EBITDA of R $ 612,9 mm with margin of 26,5 % and Net Income of R $ 221,9 million , growth of 45,7 % LABCLASS Hermes Pardini te 120 1 Lab to Lab PARDINI SÃO LUCAS ARALIENE CLINICAE +55 11 50147236 C www.fleury.com.br/ri ri@grupofleury.com.br
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2 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST Highlights: 2Q26 • Gross Revenue of R$ 2.514,6 million, growth of 14,4% over 2Q25 o B2C growth of 15,0% (11,6% organic) o Fleury Brand growth of 12,0% o Others SP growth of 27,7% (12,9% organic) o Minas Gerais growth of 19,2% (14,3% organic) o Rio de Janeiro growth of 8,9% o Regionals with growth of 10,2% o B2B growth of 12,2% o New Links growth of 15,9% • EBITDA of R$ 612,9 million, 15,2% above 2Q25, with a 26,5% margin • Net Income of R$ 221,9 million, growth of 45,7% over 2Q25, with a 9,6% margin 2Q25 2Q26 Δ 6M25 6M26 Δ Gross Revenue 2.197,8 2.514,6 +14,4% 4.386,2 4.924,8 +12,3% Cancellations (% Gross Revenue) -1,4% -1,3% +13 bps -1,4% -1,3% +11 bps Net Revenue 2.024,5 2.316,7 +14,4% 4.039,6 4.539,8 +12,4% Gross Profit 528,0 644,1 +22,0% 1.100,1 1.272,2 +15,6% Gross Margin (% NR) 26,1% 27,8% +173 bps 27,2% 28,0% +79 bps EBITDA 532,1 612,9 +15,2% 1.079,7 1.218,9 +12,9% EBITDA Margin (% NR) 26,3% 26,5% +18 bps 26,7% 26,9% +12 bps Net Income 152,3 221,9 +45,7% 331,6 423,1 +27,6% Net Margin (% NR) 7,5% 9,6% +205 bps 8,2% 9,3% +111 bps Conference Call • Date: August 07, 2026 – 11:00 (10:00 EDT) • Click here to access the conference call
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3 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST 1. Management Comment Consistency is the attribute that best defines the financial results delivered by Grupo Fleury. In 2Q26, the Company once again presents a combination of significant revenue growth, margin expansion, increased net income, stable leverage at comfortable lev els, and higher return on invested capital. This set of positive indicators translates into value creation for shareholders and other stakeholders. This consistency results stem from the successful execution of the strategy established in 2021, combining organic growth with strategic acquisitions (allowing us to double our revenue since then), efficiency gains, service differentiation, and disciplined capital allocation. In 2Q26, Gross Revenue rose 14,4% compared to 2Q25, reaching R$ 2,5 billion. EBITDA reached R$ 612,9 million, a 15,2% year -over-year increase. Net Income was R$ 221, 9 million, 45,7% higher than in the same quarter of the previous year. The net margin rose from 7,5% to 9,6%, a gain of 205 bps. Taken together, these figures reflect an organization growing in a disciplined manner and generating strong returns from its assets. Clear evidence of this is the continuous rise in our ROIC; since 2Q23, when we combined the businesses of Grupo Fleury and Pardini, it has climbed from 14,0% to 17,8% this quarter. The primary driver of revenue expansion was B2C Diagnostic Medicine, our origin and core business. Once again, the Fleury Brand stood out. In the year it celebrates its centenary, the Fleury Brand demonstrates exceptional vitality, reflected both in the op eration's capacity for renewal and in the results achieved. In response to shifting demographics and behavioral trends, we opened the Milestone 100 PSC Sã P ’ Jardins district in May. In addition to offering a full portfolio of diagnostic tests, Milestone 100 PSC houses ‘F y L ’ a suite of services focused on healthy longevity and grounded in the best available science. These competitive advantages of the Fleury Brand, combined with its reputation among end customers and its relationships with the medical community, have been pivotal in sustaining growth. In the second quarter of 2026, revenue for the Fleury Brand rose by 12,0% compared to the same period the previous year. Similar resilience is observed in other B2C diagnostic medicine operations. In Minas Gerais, growth was 19,2% — with 14,3% coming from organic growth. Regional Brands grew by 10,2%, performing particularly well in markets such as Espírito Santo, Goiás, Pará, Paraná, and Rio Grande do Sul. The Other s São Paulo Brands — comprising all brands except the Fleury Brand — grew by 27,7% during the period. This result is driven by a combination of organic expansion (12,9%) and inorganic growth resulting from recent acquisitions, such as Confiance (with 25 units in the Campinas region) and LSL (in Rio Claro). Acquisitions like these, executed based on strict criteria including cultural fit, geographic location, regional leadership, disciplined economic-financial parameters, and a rigorous integration process, contribute significantly to cost and expense dilution across our operations through economies of scale.
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4 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST In May, we took another important step toward consolidating our B2C Diagnostic Medicine business in São Paulo by closing the acquisition of Femme, its results will be reported starting in the third quarter of 2026. Focused on women's health and offering a comprehensive portfolio of clinical analysis and imaging tests, Femme operates 1 2 service units and possesses a brand highly recognized by gynecologists and patients alike for its quality and welcoming approach. In 2Q26, the B2B business , comprising Lab -to-Lab and Hospital operations , also delivered excellent performance. Gross revenue reached R$ 545,1 million, a 12,2% increase compared to 2Q25. The progress of the New Links initiative underscores the importance of offering services that extend beyond diagnostic medicine, enhancing the customer experience and relationships with payers through more integrated and sustainable care. The consistent growth demonstrated by Grupo Fleury is accompanied by cost discipline, resulting in increased gross profit, EBITDA margin, and cash generation. Strong operational results showed a significant rise in the company's net income for the quarter. With the maturation of information technology investments, crucial for the integration of Hermes Pardini and for efficiency gains , our Capex is returning to its historical profile, balancing investments in IT and digital solutions, expanding service offer ings and technical capacity, and renewing our equipment fleet and patient service centers. W xp C p y’ p q level — at the end of the second quarter, this ratio stood at 1,1x, a suitable figure given the current environment of high interest rates. G p F y’ p p p outpatient monitoring for patients with chronic diseases, enables us to balance business growth with the sustainability of the healthcare system. Our strengths in medical excellence, innovation, efficiency, and scale translate into market share gains for our brands across different regions of the country. We will continue our path, strengthening Grupo Fleury as one of the leaders in Brazil's healthcare sector and generating value for our shareholders. Jeane Tsutsui CEO
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5 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST 2. Lab-to-Lab The 2023 business combination between Grupo Fleury and Hermes Pardini was transformed into several aspects. One key aspect was positioning the Company as a leader in the B2B Diagnostic Medicine market, specifically the "Lab -to-Lab" segment, where we leverage our infrastructure, technical expertise, and R&D innovation capabilities to serve partner hospitals and laboratories across Brazil. The Lab -to-Lab model, a business line expanded thro q P G p F y’ p rposes: promoting access to high-quality, rapid, and efficient healthcare while simultaneously fostering the growth of thousands of independent laboratories. Driven by the business combination, this model has continuously evolved. Today, we serve over 9 .300 clients – ranging from small laboratories and hospitals to public agencies. This growth is attributed to a series of initiatives that boosted production capacity, decentralized and regionalized operations, increased portfolio complexity, and improved service deliver y efficiency for these partners. Currently, the Lab -to-Lab division comprises 16 technical area located across 10 states. Together, they serve clients in 2.200 cities, covering approximately 80% of the Brazilian population. Of the nearly 369 million tests processed by Grupo Fleury in 2025, 47% were handled by the Lab-to-Lab division, which has a total addressable market of R$ 9,0 billion.
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6 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST Since 2024, we have invested R$ 41,4 million in expanding eight of these 16 units and opening two new technical areas: one at the technical area in the Brooklin neighborhood of São Paulo, and another in Farrapos, Rio Grande do Sul, the latter being the first facility in the South region dedicated exclusively to Lab-to-Lab services. This expansion increased our annual processing capacity by 30%; the Brooklin facility alone added a potential capacity of 84 million tests per year. In April, the technical area in Vespasiano, Minas Gerais, received 205.483 samples for analysis in a single day, a world record. Alongside increasing capacity, we expanded our logistics routes, reaching laboratories and hospitals that previously lacked access to our Lab-to-Lab services. Today, we operate over 430 routes, covering a total of 93.000 kilometers daily. Scale is fundamental. However, the expansion of our infrastructure is accompanied by technological sophistication that serves both the market and the patient. The technical area at the São Paulo, for instance, is q pp ’ GL P (Good Laboratory Practice) line currently in operation worldwide. This technology enables the automatic prioritization of urgent samples, uninterrupted operation, and the scalability needed to keep pace with rising demand from partner laboratories. Curre ntly, the facility releases 95% of test results within three hours, a critical benchmark for the market. G p F y’ L -to-Lab service offers over 9.000 tests , a portfolio built through continuous investment in research and development, as well as agreements with international companies, some of which are exclusive. Many of these are highly specialized tests that reach clients and patients in both the private and p ublic healthcare sectors (as many partner laboratories have agreements with the SUS) without the need for local infrastructure or patient travel. One of the most recent agreements was established with Foundation Medicine, a Roche affiliate. Grupo Fleury is p z ‘F O ’ precision oncology tests. Through highly personalized analysis, the trial -and-error cycle in cancer treatment is avoided, thereby increasing the chances of a cure and improving patient well-being while reducing healthcare system costs. That is what providing access means to us. And Lab -to-Lab is increasingly a fundamental vehicle for realizing our purpose as a Company.
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7 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST 3. Income Statement 2Q25 2Q26 Δ 6M25 6M26 Δ Gross Revenue 2.197,8 2.514,6 +14,4% 4.386,2 4.924,8 +12,3% Taxes (138,3) (160,5) +16,1% (275,5) (312,0) +13,2% Cancellations (35,0) (37,4) +6,8% (71,1) (73,0) +2,7% Cancellations (% Gross Revenue) -1,6% -1,5% +11 bps -1,6% -1,5% +14 bps Net Revenue 2.024,5 2.316,7 +14,4% 4.039,6 4.539,8 +12,4% Cost of Rendered Services (1.496,6) (1.672,5) +11,8% (2.939,5) (3.267,6) +11,2% Gross Profit 528,0 644,1 +22,0% 1.100,1 1.272,2 +15,6% Gross Margin (% NR) 26,1% 27,8% +173 bps 27,2% 28,0% +79 bps Operating Expenses and Equity in Subsidiaries (221,1) (252,4) +14,2% (460,0) (512,6) +11,4% Expenses (% NR) -10,9% -10,9% +3 bps -11,4% -11,3% +9 bps EBITDA 532,1 612,9 +15,2% 1.079,7 1.218,9 +12,9% EBITDA Margin (% NR) 26,3% 26,5% +18 bps 26,7% 26,9% +12 bps Financial Results (118,0) (111,3) -5,7% (221,3) (226,3) +2,3% EBT 189,0 280,5 +48,4% 418,8 533,2 +27,3% Income Tax & Social Contribution (44,4) (61,1) +37,7% (98,4) (116,2) +18,1% Effective Tax Rate 23,5% 21,8% -170 bps 23,5% 21,8% -170 bps Net Income 152,3 221,9 +45,7% 331,6 423,1 +27,6% Net Margin (% NR) 7,5% 9,6% +205 bps 8,2% 9,3% +111 bps 4. Gross Revenue Gross Revenue (R$ million) 2Q25 2Q26 2.197,8 2.514,6 +14,4% Gross Revenue (R$ million) 6M25 6M26 4.386,2 4.924,8 +12,3% In the quarter, Gross Revenue reached R$ 2.514,6 million, representing growth of 14,4% (12,1% organic) compared to 2Q25. This performance was driven by: (i) B2C growth of 15,0% (11,6% organic) (ii) B2B growth of 12,2% (iii) New Links growth of 15,9%
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8 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST 4.1. Diagnostics 4.1.1. Patient Service Center (PSC) per Brands PSCs Gross Revenue (R$ million) 254,3 172,1 258,3 292,2 560,8 2Q25 280,3 205,1 281,3 373,1 628,0 2Q26 Regional MG RJ Others SP Fleury 1.537,8 1.767,7 +15,0% PSCs Performance 2Q26 vs. 2Q25 Brands 11,6% 12,9% 14,3% 3,4% 14,8% PSCs Fleury Others SP RJ MG Regional +15,0% +12,0% +27,7% +8,9% +19,2% +10,2% 4,9%Inorganic: LTM Acquisitions PSCs Gross Revenue (R$ million) 496,7 340,7 494,1 577,2 1.115,0 6M25 544,5 406,9 538,8 738,0 1.249,1 6M26 Regional MG RJ Others SP Fleury 3.023,7 3.477,4 +15,0% PSCs Performance 6M26 vs. 6M25 Brands 11,7% 13,5% 14,6% 3,3% 14,4% 4,8% PSCs Fleury Others SP RJ MG Regional +15,0% +12,0% +27,9% +9,0% +19,4% +9,6% Inorganic: LTM Acquisitions Note: Fleury: Fleury brand; MG: Hermes Pardini MG, Méthodos, Ecoar, LabClass, Sete Lagoas, Hemolab; RJ: Lafe, Felippe Mattoso, Labs a+, Centro de Medicina; Others SP: a+ SP, Hermes Pardini SP, Confiance, IACS, LSL, Dra. Odivânia; Regional: brands in BA, ES, GO, MA, PA, PE, PR, RN, RS and SC States. Gross Revenue from Patient Service Centers grew 15,0% in the quarter, reaching R$ 1.767,7 million, primarily reflecting: (i) Fleury Brand (+12,0%): Organic growth reflects market share gains in the premium segment within greater São Paulo, resulting from the brand's differentiation strategy. (ii) Others SP (+27,7%; +12,9% organic): This performance stems from strong organic results driven by an expanded service offering. Additionally, there is an inorganic impact from the addition of Confiance (Campinas) and LSL (Rio Claro). (iii) MG Brands (+19,2%; +14,3% organic): This trend results from market share gains driven by the growth of brands in the region, especially in the premium segment, and was boosted by the inorganic impact of Hemolab.
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9 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST (iv) RJ Brands (+8,9%): This growth reflects strong organic execution, driving market share gains, especially in the intermediate segment. (v) Regional Brands (+10,2%): Growth is driven by strong performance, primarily in the ES, GO, PA, PR, and RS markets. 4.1.2. Volumes and Revenue per Exam Services (million) 2Q25 2Q26 6M25 6M26 4,0 4,7 7,7 9,1 +17,2% Tests per Service 10,0 10,0 10,4 10,4 2Q25 2Q26 6M25 6M26 +0,4% Tests (million) 2Q25 2Q26 6M25 6M26 39,7 46,7 80,0 94,2 +17,7% 38,8 37,9 37,8 36,9 2Q25 2Q26 6M25 6M26 -2,3% Average Ticket per Test (R$) During the quarter, the number of patient visits reached 4,7 million, a 17,2% increase. The volume of tests totaled 46,7 million for the quarter, an expansion of 17,7% driven by the rise in patient visits and bolstered by the inorganic impact of the acquisitions of Confiance, Hemolab, and LSL. Gross revenue per test was R$ 37,9 for the quarter, a 2,3% decrease; this is attributed to a shift in the test mix, with a higher proportion of clinical analysis tests and tests from mid -range/basic brands (segments that generate attractive returns and margins for the Company).
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10 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST 4.2. B2B: Lab-to-Lab and Hospitals 2Q25 2Q26 Δ 6M25 6M26 Δ Gross Revenue (R$ Million) 485,9 545,1 +12,2% 966,0 1.051,6 +8,9% Test Volume (Million) 49,7 60,3 +21,2% 99,0 117,3 +18,5% Average Ticket per Test (R$) 9,8 9,0 -7,4% 9,8 9,0 -8,1% Gross Revenue from B2B expanded by 12,2% in the quarter, driven by: (i) Lab-to-Lab: Strong growth in test volumes resulting from an increased share of wallet in basic tests, which have lower price points and attractive margins. (ii) Hospitals: A segment that benefited from the influenza outbreak in 2Q26. 4.3. New Links New Links Gross Revenue (R$ million) 2Q25 2Q26 174,1 201,8 +15,9% New Links Gross Revenue (R$ million) 6M25 6M26 396,6 395,8 -0,2% Gross Revenue from New Links in the quarter reached R$ 201,8 million, with an expansion of 15,9% due to growth in all businesses, especially infusions of non-oncological medications. New Links accounted for 8,0% of the Company's Revenue in the quarter.
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11 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST 5. Gross Profit R$ MM % NR R$ MM % NR % bps R$ MM % NR R$ MM % NR % bps Net Revenue 2.024,5 100,0% 2.316,7 100,0% +14,4% - 4.039,6 100,0% 4.539,8 100,0% +12,4% - Cost of Services (1.496,6) -73,9% (1.672,5) -72,2% +11,8% +173 bps (2.939,5) -72,8% (3.267,6) -72,0% +11,2% +79 bps Personnel and Medical Services (628,8) -31,1% (693,3) -29,9% +10,3% +113 bps (1.205,5) -29,8% (1.368,7) -30,2% +13,5% -31 bps Services with Occupancy and Utilities (268,4) -13,3% (321,9) -13,9% +19,9% -64 bps (529,0) -13,1% (607,0) -13,4% +14,7% -28 bps Materials and Test Intermediation (424,9) -21,0% (484,6) -20,9% +14,1% +7 bps (862,8) -21,4% (935,6) -20,6% +8,4% +75 bps Depreciation and Amortization (170,0) -8,4% (164,3) -7,1% -3,4% +131 bps (330,9) -8,2% (341,7) -7,5% +3,3% +66 bps General Expenses (4,4) -0,2% (8,4) -0,4% +89,6% -14 bps (11,3) -0,3% (14,6) -0,3% +28,9% -4 bps Gross Profit 528,0 26,1% 644,1 27,8% +22,0% +173 bps 1.100,1 27,2% 1.272,2 28,0% +15,6% +79 bps Δ2Q25 2Q26 Δ 6M25 6M26 In the quarter, Gross Profit reached R$ 644,1 million, an increase of 22,0%, with a Gross Margin of 27,8%, representing an expansion of 173 bps. This performance is primarily explained by: • Depreciation and Amortization (+131 bps): xp y C p y’ Capex profile, resulting from lower investments in IT and Digital. • Personnel and Medical Services (+113 bps): The contraction in this line item is mainly due to the dilution of fixed costs driven by increased volume. • Services with Occupancy and Utilities ( -64 bps): This increase reflects higher variable costs at the units, driven by a rise in the volume of exams and patients. 6. Operating Expenses R$ MM % NR R$ MM % NR % bps R$ MM % NR R$ MM % NR % bps Gross Profit 528,0 26,1% 644,1 27,8% +22,0% +173 bps 1.100,1 27,2% 1.272,2 28,0% +15,6% +79 bps Op. Expenses and Equity in Sub. (221,1) -10,9% (252,4) -10,9% +14,2% +3 bps (460,0) -11,4% (512,6) -11,3% +11,4% +9 bps G&A (126,6) -6,3% (148,2) -6,4% +17,1% -15 bps (271,6) -6,7% (300,7) -6,6% +10,7% +10 bps Commercial Expenses (41,4) -2,0% (48,0) -2,1% +15,8% -2 bps (83,2) -2,1% (94,3) -2,1% +13,4% -2 bps Depreciation and Amortization (52,4) -2,6% (51,5) -2,2% -1,7% +36 bps (103,6) -2,6% (107,2) -2,4% +3,4% +20 bps Other Operating Income (Expenses) 0,3 0,0% (2,7) -0,1% -1069,8% -13 bps (4,7) -0,1% (18,6) -0,4% +295,4% -29 bps Reversal (Provision) for Contingency 1,8 0,1% 3,4 0,1% +88,6% +6 bps 8,2 0,2% 18,6 0,4% +126,6% +21 bps Equity in Subsidiaries (2,8) -0,1% (5,4) -0,2% +93,3% -9 bps (5,0) -0,1% (10,4) -0,2% +106,6% -10 bps EBIT 306,9 15,2% 391,8 16,9% +27,6% +175 bps 640,1 15,8% 759,6 16,7% +18,7% +89 bps Δ2Q25 2Q26 Δ 6M25 6M26 Operating expenses for the quarter represented 10 ,9% of Net Revenue, in line with the same quarter of the previous year, driven primarily by:
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12 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST • General and Administrative Expenses (-15 bps): The stability of this line item reflects the Company's discipline in expense control. • Depreciation and Amortization (+36 bps): This decrease is explained by the shift in the Company's Capex profile, resulting from lower investments in IT and Digital. 7. EBITDA R$ MM % NR R$ MM % NR % bps R$ MM % NR R$ MM % NR % bps EBIT 306,9 15,2% 391,8 16,9% +27,6% +175 bps 640,1 15,8% 759,6 16,7% +18,7% +89 bps D&A 222,4 11,0% 215,8 9,3% -3,0% -167 bps 434,5 10,8% 448,9 9,9% +3,3% -87 bps Equity in Subsidiaries 2,8 0,1% 5,4 0,2% +93,3% +9 bps 5,0 0,1% 10,4 0,2% +106,6% +10 bps EBITDA 532,1 26,3% 612,9 26,5% +15,2% +18 bps 1.079,7 26,7% 1.218,9 26,9% +12,9% +12 bps Δ2Q25 2Q26 Δ 6M25 6M26 EBITDA totaled R$ 612,9 million this quarter, an increase of 15,2% with a margin of 26,5%, 18 bps higher than in the same period last year. This performance resulted from an increase in Operating Profit, partially offset by a decrease in Depreciation and Amortization. 8. Financial Result and Net Debt 8.1. Financial Result R$ MM % NR R$ MM % NR % bps R$ MM % NR R$ MM % NR % bps EBIT 306,9 15,2% 391,8 16,9% +27,6% +175 bps 640,1 15,8% 759,6 16,7% +18,7% +89 bps Financial Result (118,0) -5,8% (111,3) -4,8% -5,7% +102 bps (221,3) -5,5% (226,3) -5,0% +2,3% +49 bps Financial Revenue 80,6 4,0% 79,5 3,4% -1,4% -55 bps 159,7 4,0% 160,3 3,5% +0,4% -42 bps Financial Expenses (198,6) -9,8% (190,8) -8,2% -3,9% +157 bps (381,0) -9,4% (386,7) -8,5% +1,5% +92 bps EBT 189,0 9,3% 280,5 12,1% +48,4% +277 bps 418,8 10,4% 533,2 11,7% +27,3% +138 bps Δ2Q25 2Q26 Δ 6M25 6M26 In this quarter, the financial result represented an expense of R$ 111,3 million, a reduction of 102 bps compared to the same period of the previous year.
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13 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST 8.2. Net Debt 03/31/2026 06/30/2026 Δ -1 06/30/2025 Δ - 5 Gross Debt 4.543,5 4.460,1 -1,8% 4.510,8 -1,1% (-) Cash and Cash Equivalents 2.266,6 2.037,7 -10,1% 2.190,8 -7,0% Net Debt 2.276,9 2.422,5 +6,4% 2.320,0 +4,4% EBITDA LTM 2.193,4 2.274,2 +3,7% 2.022,5 +12,4% Net Debt/EBITDA 1,0x 1,1x +0,0x 1,1x -0,1x Leverage stood at 1,1x at the end of the quarter, in line with 2Q25 and 1Q26. The Company is demonstrating resilience in the high -interest-rate environment, with leverage well below the 3,0x limit established by debt covenants. Below is the amortization schedule and debt profile. Debt amortization (R$ million) 668 396 1.209 1.127 531 531 3Q26 – 2Q27 3Q27 – 4Q27 2028 2029 2030 2031 2.038 Cash Jun/26 Debt Profile Average Cost: CDI + 1,00% 9,2% 89,8% 0,9% Debentures Working Capital Acquisitions Specifically, as a result of the completion of the Femme acquisition, the average cost of debt increased (1Q26: CDI + 0,94%; 2Q26: CDI + 1,00%) and the average maturity decreased (1Q26: 3,1 years; 2Q26: 2,8 years). That company carried debt with a shorter maturity and higher cost tha n the Grupo Fleury's consolidated debt. Such debt obligations were settled following the closing of the transaction and will be recognized in the 3Q26 Financial Statements.
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14 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST 9. Net Income R$ MM % NR R$ MM % NR % bps R$ MM % NR R$ MM % NR % bps EBIT 189,0 9,3% 280,5 12,1% +48,4% +277 bps 418,8 10,4% 533,2 11,7% +27,3% 138 bps Income Tax and Social Contribution (44,4) -2,2% (61,1) -2,6% +37,7% -45 bps (98,4) -2,4% (116,2) -2,6% +18,1% -12 bps Effective Tax Rate 23,5% - 21,8% - -7,2% -170 bps 23,5% - 21,8% - -7,2% -170 bps Net Income Before Minorities Share 144,6 7,1% 219,3 9,5% +51,7% +233 bps 320,4 7,9% 417,0 9,2% +30,2% 125 bps Minorities Share 7,7 0,4% 2,5 0,1% -67,5% -27 bps 11,2 0,3% 6,1 0,1% -45,8% -14 bps Net Income 152,3 7,5% 221,9 9,6% +45,7% +205 bps 331,6 8,2% 423,1 9,3% +27,6% 111 bps Δ2Q25 2Q26 Δ 6M25 6M26 In the quarter, the effective income tax rate was 21,8%, reflecting the management of innovation -related expenses and increased eligibility for tax benefits under the "Lei do Bem" (Good Law). Net Income totaled R$ 221,9 million, a 45,7% increase, with a margin of 9,6%, up 205 bps from the same period the previous year, driven primarily by the rise in EBT. 10. Investments 2Q25 2Q26 Δ 6M25 6M26 Δ Capex 141,5 75,7 -46,5% 208,3 136,3 -34,6% IT/Digital 86,9 19,8 -77,2% 117,2 38,9 -66,8% Diagnostic Equipment Renewal and Maintenance 24,0 12,9 -46,2% 40,6 21,5 -47,1% New PSC's, Offer Expansion and Techinical Areas 30,6 43,0 +40,6% 50,5 75,9 +50,3% Capex totaled R$ 75,7 million this quarter, down 46,5% from the same period last year. Allocation has returned to its historical profile, with lower investments in IT and Digital and a greater focus on expanding the offering and the capacity of technical areas.
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15 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST 11. Cash Flow 2Q25 2Q26 Δ 6M25 6M26 Δ EBITDA 532,1 612,9 +15,2% 1.079,7 1.218,9 +12,9% Provisions (reversions) 66,5 70,5 +6,1% 133,9 140,9 +5,2% Income Tax Paid (7,9) (9,7) +23,2% (52,3) (47,3) -9,6% Others Operating Results (0,5) 1,7 -448,4% 43,7 15,8 -63,9% Working Capital Variation: (103,2) 20,4 -119,8% (395,6) (367,9) -7,0% Trade Accounts Receivables (109,4) (66,1) -39,6% (304,5) (364,5) +19,7% Suppliers (18,8) 51,9 -375,6% (48,1) (14,9) -69,0% Salaries / Charges 30,2 31,1 +3,0% (55,3) (55,3) -0,1% Others Assets and Liabilities (5,1) 3,5 -168,0% 12,4 66,9 +441,4% (=) Operating Cash Flow 487,1 695,8 +42,9% 809,4 960,4 +18,7% Capital Expenditures (141,5) (75,7) -46,5% (208,3) (136,3) -34,6% Others Investing Activities 353,6 150,6 -57,4% 216,5 151,2 -30,2% (=) Free Cash Flow to Firm (FCFF) 699,2 770,7 +10,2% 817,5 975,2 +19,3% Interest Paid / Received (229,6) (278,6) +21,3% (254,3) (311,0) +22,3% Change in Debt (3,2) (85,5) +2582,2% (4,9) (125,8) +2454,7% Leasing (105,5) (112,5) +6,7% (211,6) (220,4) +4,2% (=) Free Cash Flow to Equity (FCFE) 361,0 294,1 -18,5% 346,7 318,0 -8,3% Dividends and Interest on Capital (254,0) (222,9) -12,3% (254,0) (223,3) -12,1% Payment of Acquisitions (107,0) (61,9) -42,2% (107,0) (97,4) -9,0% (=) Cash Flow (0,1) 9,3 - (14,4) (2,7) -81,1% Cash Flow Indicators 2Q25 2Q26 Δ 6M25 6M26 Δ Average Collection Period (days) 77 76 -1 77 78 +0 Average Payment Period (days) 61 66 +4 62 67 +5 Operating cash generation reached R$ 695,8 million for the quarter, a 42,9% increase compared to the same period of the previous year. Over the last 12 months, cash conversion reached 100 ,5% of EBITDA. During the quarter, the average collection period decreased by one day, while the average payment period increased by four days.
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16 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST 12. Attachments 12.1. Performance Indicators (R$ mil) 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Income Statement Gross Revenue 2.136,9 2.133,2 1.994,3 2.188,4 2.197,8 2.378,6 2.238,2 2.410,2 2.514,6 Net Revenue 1.978,2 1.962,7 1.839,3 2.015,1 2.024,5 2.191,0 2.060,6 2.223,1 2.316,7 COGS (1.410,9) (1.405,7) (1.385,8) (1.443,0) (1.496,6) (1.575,1) (1.570,5) (1.595,1) (1.672,5) SG&A (237,9) (216,9) (252,6) (238,9) (221,1) (249,5) (275,4) (260,3) (252,4) EBIT 329,4 340,1 200,9 333,2 306,9 366,4 214,6 367,8 391,8 EBITDA 522,0 537,4 405,4 547,6 532,1 599,4 455,9 606,0 612,9 Net Finance Income (101,3) (96,1) (103,6) (103,4) (118,0) (130,2) (116,4) (115,1) (111,3) Net Income 173,6 190,7 83,9 179,3 152,3 184,9 96,3 201,2 221,9 Result Indicators Cancellation Index -1,0% -1,4% -1,3% -1,4% -1,4% -1,4% -1,4% -1,3% -1,3% Gross Margin 28,7% 28,4% 24,7% 28,4% 26,1% 28,1% 23,8% 28,3% 27,8% EBIT Margin 15,4% 15,9% 10,1% 15,2% 14,0% 15,4% 9,6% 15,3% 15,6% EBITDA Margin 26,4% 27,4% 22,0% 27,2% 26,3% 27,4% 22,1% 27,3% 26,5% Effective Tax Rate -24,5% -23,5% -21,4% -23,5% -23,5% -22,8% -4,3% -21,8% -21,8% Net Margin 8,8% 9,7% 4,6% 8,9% 7,5% 8,4% 4,7% 9,1% 9,6% Financial Debt Cash & Equivalents 2.126,9 2.337,4 2.446,0 2.545,3 2.190,8 2.622,4 2.275,0 2.266,6 2.037,7 Gross Debt 4.141,0 4.209,9 4.449,5 4.565,0 4.510,8 4.660,7 4.457,8 4.543,5 4.460,1 Net Debt 2.014,0 1.872,5 2.003,5 2.019,7 2.320,0 2.038,3 2.182,8 2.276,9 2.422,5 Net Debt / EBITDA LTM 1,0x 1,0x 1,0x 1,0x 1,1x 1,0x 1,0x 1,0x 1,1x Profitability and Return ROIC without Goodwill LTM 37,5% 37,8% 38,3% 40,0% 38,6% 38,7% 38,9% 39,7% 41,6% ROIC LTM¹ 15,9% 16,1% 16,4% 16,9% 16,4% 16,5% 16,6% 17,0% 17,8% Cash Flow Indicators Operating Cash Flow 588,2 558,7 563,6 322,3 487,1 718,5 605,9 264,6 695,8 Cash conversion 112,7% 104,0% 139,0% 58,9% 91,5% 119,9% 132,9% 43,7% 113,5% ¹ Excluding goodwill and surplus value from the Hermes Pardini acquisition
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17 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST 12.2. Balance Sheet (R$ 000) 12/31/2025 06/30/2026 Assets Current assets Cash and cash equivalents 21.772 19.060 Securities 2.140.619 1.880.069 Accounts receivable 1.747.166 2.094.735 Inventories 180.702 156.590 Recoverable taxes 22.863 243.400 IRPJ and CSLL recoverable 225.290 - Other assets 83.053 145.076 Total current assets 4.421.465 4.538.930 Long-term assets Securities 112.622 138.544 Deferred income tax and social contribution 11.058 10.269 Recoverable taxes 1.989 8.754 IRPJ and CSLL recoverable 7.956 - Judicial deposits 19.488 13.274 Other accounts receivable 9.532 4.742 Other assets 67.116 61.144 Total long-term assets 229.761 236.727 Investments 111.772 169.324 Property, plants and equipment 1.379.255 1.404.052 Intangible assets 5.979.637 6.006.075 Right-of-use 1.098.591 1.203.367 Total non-current assets 8.799.016 9.019.545 Total assets 13.220.481 13.558.475 12/31/2025 06/30/2026 Liabilities and shareholders' equity Current liabilities Suppliers 800.133 840.735 Loans and financing 17.358 41.631 Debentures 214.745 557.886 Lease 318.732 319.569 Labor obligations 407.632 406.046 Tax liabilities 59.250 79.919 Income tax and social contribution payable 38.280 33.089 Accounts payable - acqusitions 79.339 68.124 Interest on own capital and dividends payable 291.836 71.216 Other liabilities 18.375 20.744 Total current liabilities 2.245.680 2.438.959 Non-current liabilities Loans and financing 892 510 Debentures 3.797.474 3.447.853 Lease 922.242 1.041.536 Deferred income and tax contributions 557.540 527.353 Provision for tax, labor and civil risks 180.504 168.203 Tax installments 850 550 Accounts payable - acqusitions 348.031 344.139 Interest on own capital and dividends payable 71.000 71.000 Total non-currents liabilities 5.878.533 5.601.144 Shareholders' equity Capital 2.736.029 2.736.029 Capital reserve 1.915.603 1.928.699 Retained earnings 332.450 332.449 Treasury shares (35.559) (55.478) Equity valuation adjustments 52.817 52.817 Income for the period - 423.062 Shareholders' equity of controlling shareholders 5.001.340 5.417.578 Non-controlling interest 94.928 100.794 Total shareholders' equity 5.096.268 5.518.372 Total liabilities and shareholders' equity 13.220.481 13.558.475
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18 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST 12.3. Income Statement (R$ 000) 2Q25 2Q26 6M25 6M26 Revenue from rendering of services 2.024.533 2.316.654 4.039.607 4.539.771 Cost of services rendered (1.496.555) (1.672.515) (2.939.510) (3.267.567) Gross income 527.978 644.139 1.100.097 1.272.205 Operating (expenses) income General and adminstrative (178.949) (199.715) (375.213) (407.853) Selling expenses (41.424) (47.969) (83.205) (94.322) Other operating expenses, net 2.082 672 3.493 (28) Equity method and adjustment for realization at fair value (2.776) (5.365) (5.047) (10.426) Operating income before financial income (expenses) 306.911 391.762 640.125 759.575 Financial income 80.601 79.499 159.701 160.314 Financial expenses (198.558) (190.785) (381.028) (386.660) Financial income (expense) (117.957) (111.286) (221.327) (226.346) Income before income tax and social contribution 188.954 280.476 418.797 533.229 Income tax and social contribution Current (88.710) (90.160) (135.550) (144.865) Difered 44.306 29.016 37.133 28.621 Net income for the period 144.550 219.332 320.380 416.985 Atributable for shareholders: Controlling 152.299 221.850 331.585 423.062 Non-controlling (7.749) (2.518) (11.205) (6.077) 12.4. EBITDA Breakdown According to CVM 156 (R$ 000) 2Q25 2Q26 Δ 6M25 6M26 Δ R$ MM R$ MM % R$ MM R$ MM % Net Income 152,3 221,9 +45,7% 331,6 423,1 +27,6% (-) Financial Expenses 118,0 111,3 -5,7% 221,3 226,3 +2,3% (-) Income Tax and Social Contribution 44,4 61,1 +37,7% 98,4 116,2 +18,1% (+) Depreciation and Amortization 222,4 215,8 -3,0% 434,5 448,9 +3,3% (-) Equity in subsidiaries 2,8 5,4 +93,3% 5,0 10,4 +106,6% (-) Minorities (7,7) (2,5) -67,5% (11,2) (6,1) -45,8% EBITDA 532,1 612,9 +15,2% 1.079,7 1.218,9 +12,9% EBITDA Margin (% NR) 26,3% 26,5% +18 bps 26,7% 26,9% +12 bps
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19 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST 12.5. Cash Flow Statement (R$ 000) 2Q25 2Q26 6M25 6M26 Net income for the period 144.550 219.333 320.380 416.986 Items not affecting cash: Income tax and social contribution 44.404 61.144 98.417 116.244 Accrued financial income and expenses 117.959 111.286 221.327 226.346 Depreciation and amortization 222.404 215.806 434.545 448.928 Equity method and adjustment for realization at fair value 2.776 5.364 5.047 10.426 Long-term incentive 4.150 9.778 11.145 15.931 Provision for tax, labor and civil risks (1.801) (3.397) (8.198) (18.576) Estimated losses from disallowances and default 38.868 41.533 79.814 81.275 Profit sharing 25.272 22.606 51.126 62.260 Other (498) 1.721 43.691 15.758 Cash flow from operating activities 598.084 685.174 1.257.294 1.375.578 Accounts receivable (109.364) (66.102) (304.530) (364.547) Inventories 5.919 (4.022) 5.480 25.861 Recoverable taxes (11.771) (1.388) (16.116) 27.681 Judicial deposits 23 10.272 (566) 6.213 Other assets (5.660) (6.663) 6.169 (41.936) Suppliers (18.829) 51.895 (48.122) (14.938) Labor obligations 30.177 31.086 (55.311) (55.268) Tax liabilities 509 16.975 7.391 47.150 Scheduling of tax payments (76) (225) (1.420) 344 Other liabilities 5.912 (11.452) 11.417 1.575 Total change in assets and liabilities (103.160) 20.376 (395.608) (367.865) Income tax and social contribution (7.874) (9.702) (52.309) (47.304) Net cash from operating activities 487.050 695.848 809.377 960.409 Acquisiition of fixed and intangible assets (141.477) (75.722) (208.347) (136.334) Securities - funding and income 354.396 238.220 240.813 234.628 Payments for acquired companies less cash and cash equivalents (107.020) (61.893) (107.020) (97.427) Paid-up capital in subsidiary 3.545 (62.628) (20.000) (58.459) Income from financial investments - - - - Other investments activities (4.299) (25.000) (4.299) (25.000) Net cash generated in investment activities 105.145 12.977 (98.853) (82.592) Payment of financing and debentures 77 (81.142) - (81.333) Interests paid on financing and debentures (228.717) (277.558) (252.344) (308.815) Financial commissions and others (890) (1.036) (1.934) (2.199) Share buyback - (2.000) - (35.574) Payment of lease (105.460) (112.512) (211.633) (220.434) Dividends and interest on own capital paid (254.045) (222.897) (254.045) (223.288) Suppliers financing - drawee risk (3.264) (2.340) (4.924) (8.886) Net cash used in investing activities (592.299) (699.485) (724.880) (880.529) Increase (decrease) in cash and cash equivalents (104) 9.340 (14.356) (2.712) Cash and cash equivalents At the beginning of the period 7.536 9.720 21.788 21.772 At the end of the period 7.432 19.060 7.432 19.060 Changes in cash and cash equivalents (104) 9.340 (14.356) (2.712)
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20 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST 13. About Grupo Fleury F z ’ p z k y p k q y . W k 3. 00 p y . 00 p y 0 . O ' ' j y: We operate in three business units:
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21 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST • B2C Diagnostic Medicine: Physical service units and mobile diagnostic medicine service. • B2B Diagnostic Medicine: Provision of services to diagnostic laboratories (lab-to-lab) and hospitals throughout the country. • New Links: Infusion Therapy, Orthopedics, Ophthalmology, Reproductive Medicine and Oncology. S 0 q p p . L k x q p .
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22 Y E A R S FUTURE BUILT ON SCIENCE AND TRUST Summary 1. Management Comment ........................................................................................................................................ 3 2. Lab-to-Lab ................................................................................................................................................................ 5 3. Income Statement ................................................................................................................................................... 7 4. Gross Revenue ......................................................................................................................................................... 7 4.1. Diagnostics ..................................................................................................................................................... 8 4.1.1. Patient Service Center (PSC) per Brands ............................................................................................. 8 4.1.2. Volumes and Revenue per Exam ......................................................................................................... 9 4.2. B2B: Lab-to-Lab and Hospitals ................................................................................................................... 10 4.3. New Links ...................................................................................................................................................... 10 5. Gross Profit .............................................................................................................................................................. 11 6. Operating Expenses .............................................................................................................................................. 11 7. EBITDA ...................................................................................................................................................................... 12 8. Financial Result and Net Debt ............................................................................................................................. 12 8.1. Financial Result............................................................................................................................................. 12 8.2. Net Debt ....................................................................................................................................................... 13 9. Net Income ............................................................................................................................................................. 14 10. Investments ............................................................................................................................................................. 14 11. Cash Flow................................................................................................................................................................ 15 12. Attachments ........................................................................................................................................................... 16 12.1. Performance Indicators .............................................................................................................................. 16 12.2. Balance Sheet .............................................................................................................................................. 17 12.3. Income Statement....................................................................................................................................... 18 12.4. EBITDA Breakdown ....................................................................................................................................... 18 12.5. Cash Flow Statement .................................................................................................................................. 19 13. About Grupo Fleury ............................................................................................................................................... 20