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2020 2022 2023 2024 5 YEARS SINCE THE IPO – TRANSFORMATION IN SCALE AND PROFITABILITY Gross Revenue 2020 vs 3Q25 LTM 2021 R$ 11.4 BR$ 3.4 B +236% R$1.9 BR$ 431 M +339% 19.5%15.3% +4.2 p.p. EBITDA 2020 vs 3Q25 LTM EBITDA Margin 2020 vs 3Q25 LTM IPO • Focus on consolidating the logistics sector in Brazil • Independent capital structure Key Achievements over the 5 years since the IPO • 8 new acquisitions, adding R$ 5.3 billion in gross revenue¹ • Expansion into 3 new countries (Paraguay, South Africa, and Ghana) • Over 18 thousand new employees 1 – Sum of the LTM gross revenues of the acquired companies in 3Q25. JSL’S PROGRESS SINCE THE IPO 14.6%7.1% +7.5 p.p ROIC 4Q20 vs 3Q25 01 2025 Foundations in place for value generation Improved profitability driven by efficiency gains and deleveraging Strong growth potential among current and new clients Experienced and well-prepared team for the new cycle 02 01 • JSL DEDICATED SERVICES • INTRALOG • JSL DIGITAL Reorganization for a new cycle of value creation:
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02 ¹,²,³ EBITDA, EBIT, and Net Profit adjusted in 2Q25 and 3Q24 as reported in those periods. In 3Q25, EBITDA and EBIT were adjusted by R$ 7.1 million to exclude the gain/loss on asset sales, reflecting a R$ 4.7 million adjustment in Net Profit. EBIT was adjusted by R$ 19.8 million and Net Profit by R$ 13.1 million to exclude the effects of the amortization of goodwill and fair value step-up from acquisitions. R$2.9 B GROSS REVENUE¹ +5.0% vs. 3Q24 NET REVENUE Adjusted EBITDA Margin (over Net Operating Revenue) Adjusted EBITDA2 Adjusted Net Profit²/³ ROIC Running Rate 21.2% 14.6% +1.3 p.p. vs. 3Q24 -50.7% vs. 3Q24 +0.1 p.p. vs. 2Q25 R$ 2.5 B R$ 526 M +5.6% vs. 3Q24 +12.8% vs. 3Q24 R$ 35.8 M ▪ Consolidated Net Revenue grew 10% vs. 3Q24, excluding IC Transportes revenues, which went through a selective review of businesses process as planned. ▪ Ramp-up of contracts signed in 1H25. ▪ Profitability recovery driven by price adjustments to offset input inflation and by efficiency initiatives. ▪ Consistent pace of organic expansion driven by our competitive differentials and service quality. ORGANIC GROWTH AND EXPANSION OF OPERATING MARGINS: 3Q25 CONSOLIDATED RESULTS 02
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100% Asset Light ¹ “Triple A” is the highest classification in logistics and industrial infrastructure, referring to warehouses designed to meet the demands of modern operations in efficiency, technology, and sustainability. JSL REORGANIZATION INTO THREE BUSINESS UNITS TO DRIVE GROWTH AND VALUE CREATION FOR OUR CLIENTS 03 62% Asset Heavy 38% Asset Light 100% Asset Light Dedicated transportation services under medium- and long-term contracts tailored to clients’ specific needs. Strategic Differentiators: • Execution expertise and operational capability; • Strong, long-term relationships with customers; • Operating in more than 16 sectors of the economy; • Broad access to capital for large projects. Now with operations exclusively in warehousing and intralogistics under 3PL and 4PL models, managing warehouses, internal handling, and team coordination. Strategic Differentiators: • High technical specialization and in-house career development; • Customized solutions according to customer needs; • Proprietary WMS and cutting-edge technologies. Road cargo transportation with digitalized management for greater efficiency and scalability. Strategic Differentiators: • Operational safety under a flexible model; • Expertise in building strong relationships with truck drivers; • Optimization of cross-industry and client flows; • Operation under a 100% asset-light model. Kilometers Driven Last 12 Months (in millions) +170 M Sqm Under Management Leased and Client-Owned Wh. (in millions) +2.0 M 24% triple A¹ Number of Registered Drivers + 35K R$ 8.6 B Gross Rev. (LTM) R$1.4 B EBITDA (LTM) 19.0% EBITDA Mg. (LTM) R$ 2.2 B Gross Rev. (LTM) R$ 441 M EBITDA (LTM) 23.1% EBITDA Mg. (LTM) R$ 593 M Gross Rev. (LTM) R$ 65 M EBITDA (LTM) 13.5% EBITDA Mg. (LTM) DEDICATED SERVICES Consolidated Results (Last twelve months) R$1.9 B EBITDA 19.5% Mg. EBITDA R$ 11.4 B Gross Revenue 03
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• Milk run transportation for OEM supply lines • Transportation of wood, ore, and other commodities • Cargo transfer between plants • Transportation of hazardous materials • Other specialized transportation services • Urban distribution from distribution centers to end clients • Personnel transportation Key Segments(% Gross Revenue) DEDICATED SERVICES: RESILIENT MARGINS AND CONSISTENT EXPANSION Risk and Safety Management 04 TMS and Routing The Company uses real-time data analysis to ensure cargo and driver safety and protection throughout the country. Services: Growth Levers:Business Model Forestry Temperature-Controlled Transportation Hazardous Materials • Focus on specialized transportation • High entry barriers in the segment • Commitment to operational safety and high SLA standards for clients • Asset and CAPEX requirements for service execution • Extensive use of embedded technology in operations • Long-term contracts customized for each client 28% 18% 16% 11% 8% 7% 12% Food and Beverage Pulp & Paper Automotive Chemicals E-commerce Steel and Mining Others R$8.6 B Gross Revenue Last 12 months (In billion) R$1.4 B EBITDA Last 12 months (in billion) +8%CAGR Since 2023 +170 M Kilometers Driven Last 12 months (millions km) +200N° of Contracts Actives The Company uses TMS systems and predictive routing to ensure faster deliveries with lower operating costs across the logistics chain.
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• Handling of products and materials within production plants • Management of dedicated, multi- client warehouses and Distribution Centers (DCs) • Urban distribution from our operated warehouses • Integrated operations including receiving, inspection, order picking and shipping, with full-process monitoring • Inventory management for our clients Key Segments(% Gross Revenue) NEW COMPANY CREATED FROM THE CONSOLIDATION OF THE WAREHOUSING, INTERNAL HANDLING, AND INTRALOGISTICS OPERATIONS OF JSL AND TPC. Integration with Clients 05 Applied Technology A combination of proprietary WMS and a specialized in-house team ensures end-to-end integration and efficiency with clients. Portfolio of applied technologies available for different operation models. Services: Growth Levers:Business Model Warehousing Intralogistics Internal Handling • Long-term contracts built on customer loyalty and operational complexity • High technological integration for visibility and efficiency, connecting ERPs, WMSs, and TMSs • Competitive advantage from high entry barriers, requiring deep expertise • Operations in leased or client- owned warehouses 33% 14%13% 11% 7% 6% 16% Consumer Goods Pulp & Paper Food and Beverage Automotive Steel and Mining Chemicals Others R$ 2.2 B Gross Revenue Last 12 months (In billion) R$ 441 M EBITDA Last 12 months (in millions) +21%CAGR Since 2023 +2.0 M Sqm Under Management Leased and client-owned warehouses (In millions) +15KPeople Across our operations
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NEW SEGMENT FOR ACCELERATED EXPANSION IN CARGO TRANSPORTATION • Cargo transportation fully managed through a digital platform integrating clients, operators, and drivers. • 100% asset-light operating model. • Management tools for full transportation visibility, control, and safety for clients. 06 Risk & Safety Management Centralized platform monitoring routes and partner driver safety across the country. Loyalty Program Program designed to reward and strengthen engagement with partner drivers. JSL Digital App Digital platform enabling fast connection between shippers (cargo) and drivers. Proprietary TMS Transportation management system that optimizes routes intelligently. Services: Growth Levers: Key Segments(% Gross Revenue) 19% 16% 16%15% 12% 22% E-commerce Food and Beverage Automotive Consumer Goods Steel and Mining Others R$ 593 M Gross Revenue Last 12 months (In millions) R$ 65 M EBITDA Last 12 months (in millions) +35K Trips Completed Last 12 months +35K Number of Registered Drivers
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Controlled Companies Ramon Alcaraz CEO 5 years at JSL 24 years at Fadel Guilherme Sampaio CEO-elect & CFO 6 years at JSL Eduardo Pereira VP of Sales & Marketing 22 years at JSL Mauro Cardoso People and Culture Director 4 years at JSL Deives Privatti Operations Director 14 years at JSL Fernando Simões Chairman Denys Ferrez Board Member Antônio Barreto Board Member Gilberto Xandó Independent Board Member Marcelo Castelli Independent Board Member Thiago Charaf Operations Director 10 years at JSL Maristela Nascimento Controller Director 4 years at JSL Patricia Costella Marvel Director 28 years at Marvel Deneildo Santos Transmoreno Director 13 years at Transmoreno Ronaldo Gomes Rodomeu Director 35 years at RODOMEU Luis Chamadoiro TPC Director 24 years at TPC Bruno Souza IC Transportes Director 1 year at IC Transportes Emerson Davo FSJ Director 10 years at FSJ Renato Assessor Fadel Director 2 years at FADEL Board of Directors PEOPLE WHO MAKE A DIFFERENCE AND ENSURE GROWTH WHILE MAINTAINING OUR CULTURE AND WAY OF SERVING OUR CUSTOMERS. JSL DEVELOPMENT PROGRAMS • 2 Editions • 19 People Hired • 2 Editions • 38 Drivers hired • 16 Editions • 243 Women Hired + 10 Years Average Tenure + 18 k Employees + 230 Managers + 9 Years Average Tenure + 16 k Employees + 100 Managers + 5 Years Average Tenure + 60 Employees + 5 Managers DEDICATED SERVICES 07 + 9 Years Average Tenure + 34 k Employees + 340 Managers
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QUALITY , EFFICIENCY , AND OPERATIONAL SAFETY GENERATE OPPORTUNITIES FOR NEW CONTRACTS AND SERVICE EXPANSION. 2Q251Q254Q24 R$ 886 million in contracts with an average term of 49 months,95% cross-selling ▪ 21% CHEMICALS ▪ 17% PULP & PAPER R$ 1.8 billion in contracts with an average term of 81 months, 33% cross-selling ▪ 57% OTHERS (includes airport logistics) ▪ 22% AUTOMOTIVE HISTORY OF CONTRACTS SIGNED IN THE LAST 12 MONTHS 3Q25 R$ 1.5 billion in contracts with an average term of 67 months, 95% cross-selling ▪ 35% FOOD & BEVERAGE ▪ 24% STEEL AND MINING BUSINESS UNITS 55%45% JSL DEDICATED SERVICES INTRALOG *JSL Digital does not operate on a long-term contract model, due to its business profile. 08 R$ 854 millionin contracts with an average term of 62 months, 79% cross-selling ▪ 44% CHEMICALS ▪ 21% AUTOMOTIVE
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+13% +1% -51% 466 492 526 19.8% 20.6% 21.2% 3Q24 2Q25 3Q25 EBITDA Margin 324 310 328 13.8% 13.0% 13.2% 3Q24 2Q25 3Q25 EBIT Margin +6% 2,352 2,382 2485 3Q24 2Q25 3Q25 08¹ The figure excludes the write-off of fair value allocated to the cost of asset sales, adjusted by R$ 7.1M in EBITDA and EBIT a nd R$ 4.7M in Net Profit. |² A R$ 19.8M adjustment in EBIT and R$ 13.1M in Net Profit was made to exclude the amortization of goodwill/fair value. |³ Calculated based on Net Revenue Adj. Net Profit1/2 (R$ million) ROIC Running Rate (%) 15.4% 14.5% 14.6% 3Q24 LTM 2Q25 LTM 3Q25 LTM Net Revenue(R$ million) FOOD AND BEVERAGE PULP AND PAPER AUTOMOTIVE CONSUMER GOODS STEEL AND MINING RETAIL/E-COMMERCE OTHER CHEMICALS 24% 16% 15%13% 10% 7% 8% 7% 75% 20% 5% Sectors Services Adj. EBIT 1/2(R$ million)| Adj. EBIT Margin¹²³ (%) SECTOR AND SERVICE DIVERSIFICATION ARE STRATEGIC DIFFERENTIATORS THAT DRIVE PERFORMANCE | SCALE, EFFICIENCY , AND RESILIENCE OUR LARGEST CLIENT ACCOUNTS FOR ~10% OF REVENUE, SPREAD ACROSS MORE THAN 15 ACTIVE CONTRACTS Adj. EBITDA1/3 (R$ million) | Adj. EBITDA MARGIN1/3 (%) 73 36 36 3Q24 2Q25 3Q25JSL DEDICATED SERVICES INTRALOG JSL DIGITAL 09
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JSL Dedicated Services 75% of Net Revenue Intralog 20% of Net Revenue JSL Digital 5% of Net Revenue +7.0%1.7 NET REVENUE FROM SERVICES B R$ 3Q25 vs. 3Q24 R$ 382 M EBITDA | EBITDA Margin1 3Q25 20.6% Margin +9.6% vs. 3Q24 +1.5 p.p.vs. 3Q24 +18.8%498 NET REVENUE FROM SERVICES MR$ 3Q25 vs. 3Q24 R$ 121 M EBITDA | EBITDA Margin1 3Q25 24.1% Margin +35.2% vs. 3Q24 +2.8 p.p.vs. 3Q24 +16.3%127 NET REVENUE FROM SERVICES MR$ 3Q25 vs. 3Q24 R$16 M EBITDA | EBITDA Margin1 3Q25 12.5% Margin +32.1% vs. 3Q24 +1.4 p.pvs. 3Q24 7% increase, when we exclude the revenues of IC Transportes, which went through a selective business review process, in accordance with the strategic plan. 19% growth, mainly driven by the results of the new projects, with a focus on the airport and consumer goods sectors. 16% growth, a new growth avenue mainly driven by the e-commerce and automotive sectors. LOGISTICS SERVICES PORTFOLIO BASED ON CONTRACTS AND ESSENTIAL SERVICES FOR CLIENTS ACROSS ALL STAGES: INPUTS, PRODUCTION, AND FINISHED PRODUCTS 09 101Considering the total net service revenue figures for the business unit, there was a variation of -0.7% in Q3 2025. ² Regarding total net revenue.
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320 (R$ million) 3Q24 2Q25 3Q25 Gross Debt 7,628.6 7,144.3 7,385.2 Cash and Investments 2,313.0 1,353.7 1,650.9 Net Debt 5,315.6 5,790.6 5,734.3 LTM EBITDA¹ 1,805.2 1,822.2 1,891.2 LTM EBITDA-A¹ 2,059.3 2,192.5 2,314.7 Financial Indicators - Covenants 3Q24 2Q25 3Q25 Covenants Net Debt / EBITDA-A¹ 2.58x 2.64x 2.48x Less than 3.5x EBITDA-A¹ / Net Financial Result 2.74x 2.60x 2.60x Greater than 2x Net Debt / EBITDA¹ 2.94x 3.18x 3.03x N/A ¹ Combined results, considering the last twelve months of FSJ; ² Excluding the effects of Sistema S. 10 AMORTIZATION SCHEDULE R$ million 1,971 CORPORATE CREDIT RATING AA(bra) BB- brAA+ BB- National Global Stable Stable Outlook AA+.br Stable- EXECUTION OF STRATEGIC PLANNING DRIVES CASH GENERATION AND RESULTS, CONTRIBUTING TO POTENTIAL DELEVERAGING 5,373 5,316 5,532 5,717 5,791 5,734 3.3x 3.2x 3.3x 3.3x 3.2x 3.0x 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Net Debt Net Debt/EBITDA² Excluding the effects of Sistema S in 2Q24, leverage improved by 0.3 p.p. Available revolving credit lines of R$ 320 million • Average net debt maturity of 4 years • Liquidity sufficient to amortize all debt through early 2027 • Liquidity sources = 2.0x short-term debt 11 1,651 992 727 885 1,005 1,220 1,765 791 Cash 4Q25 2026 2027 2028 2029 2030 2031
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OPERATING CASH GENERATION DEMONSTRATES THE COMPANY’S ABILITY TO FINANCE GROWTH 11 Free cash flow before growth reached R$ 768 million after interest payments. It is worth noting that, even when including payments for acquisitions and dividends, cash generation reached R$ 582 million over the last nine months. Cash Flow for the Last 9 Months (R$ million) EBITDA R$ 1,461 Working Capital (-) - R$ 229 Cost of Asset Sales (+) + R$ 309 Renewal and other CAPEX (-) - R$ 102 Income tax and non-cash items (-) - R$ 72 Free Cash Flow R$ 1,367 Expansion Capex (-) - R$ 238 Post-Growth Free Cash Flow R$ 1,128 Debt raised (+) + R$ 743 Principal amortization (-) - R$ 1,098 Interest paid (-) - R$ 599 Right of use lease payments (-) - R$ 233 Payment for company acquisitions (-) - R$ 80 Dividends paid (-) - R$ 107 Cash flow variation - R$ 244 Beginning Cash and Equivalents R$ 1.895 Ending Cash and Equivalents R$ 1.651 12
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JSL SCALE PROGRAM: INITIATIVES FOR EFFICIENCY GAINS AND COST REDUCTION 13 • Increased fueling at internal stations and higher concentration at partner locations. • Implementation of a performance-based bonus program for drivers, focused on fuel efficiency in operations. • Reduction of non-operational staff through process optimization, automation, and centralization of back-office activities. • Active monitoring of working hours, reducing overtime and turnover by ensuring better job alignment. • Review of the entire parts supply strategy for maintenance, identifying better alternatives with equivalent quality and performance. • Insourcing of maintenance services, especially in remote operations, reducing costs, improving quality, and minimizing downtime. Examples of Strategic Action Initiatives R$ 240 million (Annualized) Cost Reduction 66% of fuel supply now takes place at owned or partner stations, concentrating volumes. 26% improvement in maintenance inventory turnover R$ 10 M Reduction in unplanned overtime expenses
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‘ CREATION OF A DIGITAL TRANSFORMATION AND OPERATIONAL EFFICIENCY AREA TO BENEFIT JSL’S SCALE Data Centralization and Governance Automation and Efficiency Predictive and Prescriptive Artificial Intelligence Process review using lean methodology, with robotization and hyper automation supported by AI tools, in both core and back-office processes: Invoice Processing HR Processes Risk and Safety Management Reconciliation and Billing Issuance of Transportation Documents Legal and Contract Management POCs (Proofs of Concept) in progress to identify optimization opportunities in: Fleet Maintenance Transportation Operations Efficiency Pricing 12 14 Our virtual assistant, improving communication efficiency through: Centralization of communication channels Support and inquiries Resolutions without human intervention Organization, consolidation, and integration of operational data to support: Predictive and Prescriptive Analyses Productivity Optimization Through Benchmarking Gap Identification Full integration of systems and platforms • End-to-end transportation process management • Autonomous operation, eliminating the need for human intervention • Connection platform bringing together cargo and drivers APP SHIPPER DRIVER
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KEY PILLARS FOR A SUSTAINABLE FUTURE 12 15 2nd consecutive year with a 12-position rise in B3’s Corporate Sustainability Index (ISE B3) ranking. Among the 500 Best Sustainable Growth Companies in the World 2025, by TIME magazine Gold Seal in the Brazilian GHG Protocol Program for the fifth consecutive year. B Score in the Carbon Disclosure Project, above the global average for the transportation and logistics sector. ACKNOWLEDGEMENTSKEY PILLARS AND PROJECTS IN 2025 • Operational efficiency: route optimization to reduce idle trips and fuel consumption. • Sustainable fleet: vehicles powered by alternative fuels, minimizing environmental impact. ENVIRONMENTAL SOCIAL GOVERNANCE • Sustainable Solutions: Proactive proposal of solutions with low environmental impact in all new projects and bids. • Emissions Control: Detailed monitoring of Greenhouse Gas (GHG) Emissions by client and project. • Talent Development: Hiring of 38 drivers in 2025, with a focus on gender inclusion. • Zero-Accident Safety Culture: Expanded risk mapping in 2025 to support the goal of zero accidents. GLOBAL INITIATIVES
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12 16 BEGINNING OF A NEW CYCLE FOCUSED ON SUSTAINABLE GROWTH AND OPERATIONAL EFFICIENCY REORGANIZATION OF BUSINESS UNITS WITH A FOCUS ON SCALABILITY FULL FOCUS ON OPERATIONAL EFFICIENCY AND EXCELLENCE IN CUSTOMER SERVICE DIGITAL TRANSFORMATION AS A LEVER FOR EFFICIENCY AND NEW BUSINESS OPPORTUNITIES EMPLOYEE TRAINING AND INTERNAL DEVELOPMENT 2 3 4 5 6 We strengthen our competitiveness through trust built over time, delivering differentiated and customized services across various industries, which enables us to cross-sell and acquire new clients. NEW COMMERCIAL STRUCTURE TO ENHANCE AGILITY IN GROWTH WITHIN PRIORITY INDUSTRIES CREATION OF A NEW COMPANY THROUGH THE CONSOLIDATION OF WAREHOUSING AND INTRALOGISTICS 1
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Disclaimer Some of the statements and considerations contained herein comprise additional unaudited or unreviewed information and are based on the current assumptions and views of the Company's management that may cause actual results, performance and future events to vary materially. Actual results, performance or events may differ materially from those expressed or implied by such statements due to, among other things, general economic conditions in Brazil and other countries, interest rates, inflation and currency exchange rates, changes in laws and regulations, and general competitive factors (on a global, regional or national basis). Accordingly, the Company's management does not accept responsibility for the conformity and accuracy of the additional unaudited or unreviewed information discussed in this report, which should be independently reviewed and interpreted by the shareholders and market agents who should make their own analyses and conclusions about the results disclosed herein. INVESTOR RELATIONS +55 (11) 2377-7178 ri@jsl.com.br ri.jsl.com.br Q&A