Earnings release
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IOCHPE - MAXION Earnings 2Q26 Earnings Conference Call Date : August 6 , 2026 Time : 10:00 a.m. ( BRT ) Simultaneous translation into Portuguese and English . Access : lochpe - Maxion Website : www.iochpe.com.br MYPK ISE B3 IDIVERSA B3 ICO2 B3 ADR : IOCJY B3 LISTED NM
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2 page for 13 ADR: IOCJY 1) MESSAGE FROM THE CEO During the second quarter of 2026, Iochpe -Maxion S.A. (“Company” or “Maxion”) continued to operate in a global environment marked by macroeconomic uncertainty, geopolitical tensions and mixed trends across automotive markets and regions. However, several key markets are also showing strength or are trending upwards, d espite these challenges . Consistent operational and financial discipline helped mitigate part of the impact from weaker conditions in certain markets and temporary pressure on margins, reinforcing the resilience of our global business model. In South America, growth in the Brazilian light vehicle market supported higher volumes of aluminum and steel wheels, mostly offsetting softer commercial vehicle demand. Supported by a favorable product mix and disciplined execution, the region maintained solid profitability and cash generation despite the mixed market conditions. Looking ahead, we remain optimistic especially about the light vehicle segment , including the trend of more localized production from Chinese OEMs. In North America, we continued to make progress in the recovery of our aluminum wheel business, delivering performance above market levels and advancing with the new launches scheduled for 2026. We also observed signs of stabilization and gradual recovery in the commercial vehicle segment, contributing positively to operational performance across the region. Although production levels were still below those seen in previous cycles, improving volumes and higher capacity utilization have supported profitability and reinforce our positive outlook for a gradual but structural market recovery. In Europe, light vehicle production remained under pressure compared with the prior year. In commercial vehicles, we continued to outperform the market, highlighting the value of our diversified portfolio and long -standing relationships with leading OEMs. In Asia, Maxion delivered another strong performance, particularly in India, which remains one of the Company’s key growth engines. Growth was driven by higher market volumes and the launch of new platforms with relevant market shares for Maxion. The right-sized scaled e xpansion of both our light vehicle and commercial vehicle wheel businesses in India is focused on recent new business awards and accelerated payback. We also continued to strengthen our relationships with Chinese automakers and expand our participation in new programs, further supporting organic growth and reinforcing our competitive position globally.
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3 page for 13 ADR: IOCJY From a financial perspective, Maxion remains committed to cash generation, disciplined capital allocation and a solid capital structure. During the quarter, we reduced net debt compared with March 2026 while maintaining a robust liquidity position. Leverage ended the quarter at 2. 52x trailing twelve-month EBITDA, remaining at a level consistent with the Company’s operating profile and capital structure objectives. Following the end of the quarter, we also successfully executed important liability management initiatives. The completion of a four-year syndicated loan and the issuance of debentures in the Brazilian market contributed to extending debt maturities, diversifying funding sources and strengthening liquidity. These transactions reinforce our financial flexibility and demonstrate Maxion’s ability to access multiple sources of capital, as well as the confidence that financial institutions continue to place in our business model and credit profile, even in a more selective environment for Brazilian corporate issuers. Looking ahead, we remain confident in the South American light vehicle and pickup truck market, the continued recovery of our sales to the North American Truck market and the growth opportunities in India. At the same time, we remain attentive to developments in the Brazilian commercial vehicle market and to demand trends for light vehicles in Europe. With a flexible operating structure, a diversified global portfolio, strong customer relationships and a continued focus on profitability, cash generation and financial discipline, we believe Maxion remains well -positioned to create sustainable value for shareholders over the medium and long term. 2) 2Q26 HIGHLIGHTS ▪ Net operating revenue of R$ 4,012.5 million in 2Q26, representing a 2.3% decrease, and R$ 7,819.8 million in 1H26, a 2.8% decrease1 ▪ Gross profit of R$ 485.5 million, with a gross margin of 12.1% in 2Q26, and R$ 927.1 million in 1H26, with a gross margin of 11.9%, representing a decrease of 9.2% and 0.9 p.p. and a decrease of 5.2% and 0.3 p.p.¹ ▪ EBITDA of R$ 417.5 million in 2Q26, with an EBITDA margin of 10. 4%, and of R$ 774.5 million in 1H26, with an EBITDA margin of 9. 9%, representing a decrease of 7.3% and 0.6 p.p., and a decrease of 3.8% and 0.1 p.p.¹ ▪ Net income of R$ 86.9 million in 2Q26 (earnings per share of R$ 0,58001) 1 Compared to the same period last year
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4 page for 13 ADR: IOCJY ▪ Financial leverage2 of 2.52x in 2Q26, compared to 2.49x in 1Q26 and 2.38x in 2Q25 3) MARKET Vehicle production in the regions where the largest percentage of the Company’s consolidated revenue is concentrated showed the following trends during the indicated periods (in thousands): The most recent forecasts from consulting firms for the year 2026 indicate a 2.1% decline in global light vehicle production (a 0.8% decline excluding China) and a 1.0% increase in global commercial vehicle production (a 6.3% increase excluding China). 2 Net debt/EBITDA for the last 12 months Region 2Q26 2Q25 Var. 2Q26 2Q25 Var. Brazil 699 620 12,7% 39 43 -8,6% India 1.643 1.414 16,2% 126 123 2,3% North America 3.948 3.955 -0,2% 119 126 -5,0% Europe³ 3.975 4.112 -3,3% 125 127 -1,6% Global 22.872 22.924 -0,2% 908 855 6,1% Global Ex-China 15.416 15.225 1,3% 520 525 -1,0% Region 1H26 1H25 Var. 1H26 1H25 Var. Brazil 1.299 1.180 10,2% 73 82 -11,1% India 3.420 3.011 13,6% 299 268 11,6% North America 7.669 7.722 -0,7% 223 256 -12,7% Europe³ 7.983 8.155 -2,1% 251 237 5,8% Global 44.751 45.183 -1,0% 1.849 1.730 6,9% Global Ex-China 30.710 30.357 1,2% 1.062 1.055 0,6% (1) Source: ANFAVEA (Brazil) and S&P Global (other regions) - July, 2026 (2) Source: Global Data (Commercial Vehicles) - 2Q26 (3) Consider EU27 + UK + Turkey Light Vehicles¹ Commercial Vehicles²
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5 page for 13 ADR: IOCJY 4) OPERATING AND FINANCIAL PERFORMANCE 4.1) Net Operating Revenue Consolidated net operating revenue reached R$ 4,012.5 million in 2Q26 and R$ 7,819.8 million in 1H26, representing a 2.3% decline compared to 2Q25 and a 2.8% decline compared to 1H25. This performance reflects lower demand for commercial vehicles in Brazil and North America , as well as the negative impact of the real’s appreciation against the dollar on the conversion of foreign revenues, which reduced net operating revenue by R$ 333.5 million in 2Q26 and by R$ 484.3 million in 1H26. These effects were partially offset by the solid performance of the light vehicle market in Brazil and strong results in Asia. The following table shows the performance of consolidated net operating revenue by region and by product for the periods indicated. Consolidated I.S - R$ thousand 2Q26 2Q25 Var. 1H26 1H25 Var. Net Operating Revenue 4.012.470 4.106.968 -2,3% 7.819.803 8.045.018 -2,8% Cost of Goods Sold (3.526.927) (3.572.351) -1,3% (6.892.722) (7.066.669) -2,5% Gross Profit 485.543 534.617 -9,2% 927.081 978.349 -5,2% 12,1% 13,0% 11,9% 12,2% Operating Expenses (213.840) (244.020) -12,4% (424.159) (470.121) -9,8% Other Operating Expenses/Revenues 2.576 (2.517) -202,3% (11.358) (8.585) 32,3% Equity Income 9.434 18.776 -49,8% 10.972 24.242 -54,7% Operating Income (EBIT) 283.713 306.856 -7,5% 502.536 523.885 -4,1% 7,1% 7,5% 6,4% 6,5% Financial Results (117.042) (151.372) -22,7% (263.323) (291.363) -9,6% Income Taxes (43.399) (45.152) -3,9% (78.836) (86.658) -9,0% Minority Shareholders (36.403) (23.510) 54,8% (69.588) (48.150) 44,5% Net Income 86.869 86.822 0,1% 90.789 97.714 -7,1% 2,2% 2,1% 1,2% 1,2% EBITDA 417.527 450.479 -7,3% 774.572 804.840 -3,8% 10,4% 11,0% 9,9% 10,0%
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6 page for 13 ADR: IOCJY 4.2) Cost of Goods Sold Cost of goods sold totaled R$ 3,526.9 million in 2Q26 and R$ 6,892.7 million in 1H26, representing decreases of 1.3% and 2.5%, respectively, compared to the same periods in 2025. This change primarily reflects lower operating activity in certain markets. 4.3) Gross Profit Gross profit reached R$ 485.5 million in 2Q26, with a gross margin of 12.1%, and R$ 927.1 million in 1H26, with a gross margin of 11.9%, representing decreases of 9.2% and 5.2%, respectively, compared to the same periods in 2025. The decline in the gross m argin was primarily due to the lower dilution of fixed production costs resulting from reduced volumes, particularly in the commercial vehicle market , as well as the temporary effects of the lag between changes in raw material costs and their pass-through to selling prices. 4.4) Operating Expenses Operating expenses - which include selling, general, and administrative expenses, as well as management fees - totaled R$ 213.8 million in 2Q26 and R$ 424.2 million in 1H26, representing a decrease of 12.4% compared to 2Q25 and 9.8% compared to 1H25. Net Operating Revenue- R$ thousand 2Q26 2Q25 Var. 1H26 1H25 Var. Aluminum Wheels - light vehicles 295.494 262.871 12,4% 536.962 489.661 9,7% Steel Wheels - light vehicles 166.699 145.776 14,4% 316.635 278.456 13,7% Steel Wheels - commercial vehicles 207.281 253.848 -18,3% 405.605 489.758 -17,2% Structural Components - light vehicles 121.304 127.840 -5,1% 240.533 241.965 -0,6% Structural Components - commercial vehicles 349.236 405.024 -13,8% 678.314 736.479 -7,9% 1.140.014 1.195.359 -4,6% 2.178.048 2.236.319 -2,6% 28,4% 29,1% 27,9% 27,8% Aluminum Wheels - light vehicles 193.933 147.141 31,8% 395.549 302.776 30,6% Steel Wheels - light vehicles 397.656 455.338 -12,7% 759.781 842.261 -9,8% Steel Wheels - commercial vehicles 101.080 104.795 -3,5% 180.320 208.970 -13,7% Structural Components - commercial vehicles 345.139 336.349 2,6% 652.804 760.127 -14,1% 1.037.808 1.043.623 -0,6% 1.988.454 2.114.134 -5,9% 25,9% 25,4% 25,4% 26,3% Aluminum Wheels - light vehicles 752.470 820.148 -8,3% 1.496.575 1.613.813 -7,3% Steel Wheels - light vehicles 339.662 377.226 -10,0% 699.943 764.659 -8,5% Steel Wheels - commercial vehicles 389.787 382.310 2,0% 782.974 735.445 6,5% 1.481.919 1.579.684 -6,2% 2.979.493 3.113.917 -4,3% 36,9% 38,5% 38,1% 38,7% Aluminum Wheels - light vehicles 206.937 146.864 40,9% 380.933 282.869 34,7% Steel Wheels - light vehicles 47.699 53.610 -11,0% 98.686 107.992 -8,6% Steel Wheels - commercial vehicles 98.093 87.828 11,7% 194.189 189.787 2,3% 352.728 288.302 22,3% 673.808 580.648 16,0% 8,8% 7,0% 8,6% 7,2% 4.012.470 4.106.968 -2,3% 7.819.803 8.045.018 -2,8% 100,0% 100,0% 100,0% 100,0% Maxion Wheels 3.196.789 3.237.755 -1,3% 6.248.153 6.306.447 -0,9% 79,7% 78,8% 79,9% 78,4% Maxion Structural Components 815.679 869.213 -6,2% 1.571.651 1.738.571 -9,6% 20,3% 21,2% 20,1% 21,6% ¹ EMEA - Europe, Middle East and Africa Asia Iochpe-Maxion Consolidated South America North America EMEA¹
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7 page for 13 ADR: IOCJY This performance reflects the Company’s ongoing cost -control initiatives, as well as the effects of the real’s appreciation against the dollar on the translation of expenses from international operations. 4.5) Other Operating Expenses/Revenues Other operating expenses/income amounted to a positive R$ 2. 5 million in 2Q26, compared to a negative R$ 2.5 million in 2Q25. In 1H26, the result was a negative R$ 11.3 million, compared to a negative R$ 8.6 million in 1H25. In 2Q26, the result was impacted by restructuring expenses totaling R$ 5.3 million. Additionally, the Company recognized an impairment loss of R$ 3.3 million related to an investment in an associate, due to changes in the economic, financial, and operation al outlook of that investee. Also, earnings were positively impacted by the recognition of R$20.1 million in goodwill related to the consolidation of an investment. 4.6) Equity Method Income Equity in earnings was positive at R$ 9.4 million in 2Q26, down from the R$ 18.8 million reported in 2Q25. In 1H26, equity in earnings totaled R$ 11.0 million, compared to the R$ 24.2 million reported in 1H25. The following table presents the amounts corresponding to Iochpe -Maxion’s equity investments, reflecting the impact of equity method accounting on the Company’s results. 4.7) Operating Income (EBIT) Operating profit (EBIT) reached R$ 283.7 million in 2Q26, representing a 7.5% decrease, with a 0. 4 p.p. decline in the margin compared to 2Q25. In 1H26, operating income totaled R$ 502.5 million, representing a 4.1% decrease, with an EBIT margin of 6.4%, 0.1 percentage points lower than that recorded in 1H25. The decrease in operating income primarily reflects lower net revenue and a compression in the gross margin during the period, partially offset by a reduction in operating expenses resulting from cost and expense control R$ thousand Amsted Maxion¹ Maxion Montich² Dongfeng Maxion³ Polimetal4 Total Amsted Maxion¹ Maxion Montich² Dongfeng Maxion³ Total Var. Net Income (Loss) 6.888 7.743 (6.138) 941 9.434 5.112 17.417 (3.754) 18.776 -49,8% R$ thousand Amsted Maxion¹ Maxion Montich² Dongfeng Maxion³ Polimetal4 Total Amsted Maxion¹ Maxion Montich² Dongfeng Maxion³ Total Var. Net Income (Loss) 11.116 9.372 (9.236) (280) 10.972 10.311 22.155 (8.224) 24.242 -54,7% ¹Amsted-Maxion Fundição e Equipamentos Ferroviários S.A.: Related company in the railway segment (19.5% share) ² Maxion Montich S.A.: Joint business with factories of structural components in Argentina, Uruguay and Brazil (50% stake) ³ Dongfeng Maxion Wheels Ltd.: Related company that produces aluminum wheels in China (50% stake) 4Polimetal: An affiliated company that manufactures aluminum wheels in Argentina (50.1% stake) 1H26 1H25 1Q26 1Q25
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8 page for 13 ADR: IOCJY initiatives implemented by the Company. 4.8) EBITDA EBITDA reached R$ 417.5 million in 2Q26 and R$ 7 74.5 million in 1H26, with EBITDA margins of 10. 4% and 9. 9%, respectively. Compared to the same periods in 2025, EBITDA decreased by 7.3% for the quarter and 3.8% for the half- year, while EBITDA margins declined by 0.6 p.p. and 0.1 p.p., respectively. The following table shows the evolution of EBITDA. 4.9) Financial Results Net financial income was negative by R$ 117.0 million in 2Q26, a decrease of 22.7% compared to 2Q25. For the first half of the year, net financial income was negative by R$ 263.3 million in 1H26, representing a decrease of 9.6% compared to 1H25. 4.10) Net Income Net income of R$ 86.9 million in 2Q26 (earnings per share of R$ 0. 58001), representing a 0.1% increase compared to net income of R$ 86.8 million in 2Q25 (earnings per share of R$ 0.57970). 5) INVESTMENTS Investments totaled R$ 80.8 million in 2Q26, a 43.4% decrease compared to 2Q25. On a comparable basis, excluding the effects of exchange rate fluctuations on the conversion of investments made abroad, the decrease was 29.0%. Investments were directed prima rily toward projects in Europe and Brazil, reflecting the implementation of initiatives focused on maintenance, operational efficiency, automation, and process improvement, as well as investments related to new business development and customer programs. The Company continues to prioritize disciplined allocation of capital, with a focus on adequate returns. EBITDA reconciliation - R$ mi 2Q26 2Q25 Var. 1H26 1H25 Var. Net Income (Loss) 86.869 86.822 0,1% 90.789 97.714 -7,1% Minority Shareholders 36.403 23.510 54,8% 69.588 48.150 44,5% Income Taxes and Social Contribution 43.399 45.152 -3,9% 78.836 86.658 -9,0% Financial Results 117.042 151.372 -22,7% 263.323 291.363 -9,6% Depreciation / Amortization 133.814 143.623 -6,8% 272.036 280.955 -3,2% EBITDA 417.527 450.479 -7,3% 774.572 804.840 -3,8%
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9 page for 13 ADR: IOCJY 6) LIQUIDITY AND DEBT The cash and cash equivalents balance as of June 30, 2026, was R$ 1,868.0 million. Consolidated gross debt (loans, financing, and debentures, both current and non-current) totaled R$ 5,663.6 million, with R$ 265.0 million (4.7%) recorded as current liabilities and R$ 5,398.6 million (95.3%) as non-current liabilities. The main components of consolidated gross debt were: (i ) lines of credit in Brazilian reais, which accounted for 46.4% (CDI + 0.7% per year), (ii) lines of credit in euros, accounting for 31.9% (3.5% per year), and (iii) lines of credit in U.S. dollars, accounting for 20.7% (5.2% per year). Consolidated net debt3 totaled R$ 3,685.4 million, a decrease of 0.9% compared to March 31 , 2026, and a decrease of 6.9% compared to December 31, 2025. At the end of 2Q26, net debt stood at 2. 52x trailing 12 -month EBITDA, compared to 2.38x in 2Q25 and 2.65x in 4Q25. 7) SHAREHOLDERS´ EQUITY Consolidated shareholders’ equity reached R$ 4,685.0 million (book value per share of R$ 30.48) as of June 30, 2026, a 3.4% decrease compared to the shareholders’ equity recorded as of December 31, 2025 (R$ 4,851.7 million and book value per share of R$ 31.56). Net equity attributable to controlling shareholders reached R$ 4, 095.7 million (book value per share of R$ 26. 64) as of June 30, 2026, a decrease of 5.2% compared to the shareholders’ equity attributable to controlling shareholders as of December 31, 2025 (R$ 4,321.7 million and shareholders’ equity per share of R$ 28.11). The change in shareholders’ equity is related to net income for the period and foreign exchange fluctuations that affect the value of net assets held abroad (equity valuation adjustment). 8) CAPITAL MARKETS Iochpe-Maxion’s common shares (B3: MYPK3) closed the second quarter of 2026 trading at R$ 9.02, a decrease of 1.3% for the quarter and 32.4% over the 3 Gross debt plus current and non-current derivative financial liabilities, less cash and cash equivalents plus current and non-current derivative financial assets
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10 page for 13 ADR: IOCJY past 12 months. At the end of 2Q26, Iochpe -Maxion reached a market capitalization of R$ 1,386.5 million (R$ 2,052.1 million at the end of 2Q25). Stock Performance – Last 12 Months In 2Q26, Iochpe-Maxion shares had an average daily trading volume on B3 of R$ 11.0 million (R$ 12.3 million in 2Q25) and an average daily number of 3,739 trades (4,518 trades in 2Q25). Average Daily Volume 9) ARBITRATION CLAUSE The Company is subject to arbitration by the Novo Mercado Arbitration Chamber, in accordance with the Arbitration Clause set forth in its Bylaws. 10) MANAGEMENT STATEMENT In compliance with the provisions of Article 27 of CVM Resolution No. 80/22, the Executive Board hereby declares that it has discussed, reviewed, and approved the special review report prepared by the independent auditors -22,58% 32,06% -30,0% -20,0% -10,0% 0,0% 10,0% 20,0% 30,0% 40,0% 50,0% 60,0% jun/25 jul/25 ago/25 set/25 out/25 nov/25 dez/25 jan/26 fev/26 mar/26 abr/26 mai/26 jun/26 MYPK3 Ibovespa 11.430 11.868 15.775 14.321 18.762 12.370 15.277 12.464 12.615 14.701 9.468 9.068 4.100 3.983 4.009 4.174 6.104 3.877 3.548 3.541 4.289 4.343 3.314 3.559 jul/25 ago/25 set/25 out/25 nov/25 dez/25 jan/26 fev/26 mar/26 abr/26 mai/26 jun/26 Volume Business
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11 page for 13 ADR: IOCJY and the quarterly financial information as of June 30, 2026. The Company’s financial information presented herein is in compliance with Brazilian corporate law and prepared in accordance with NBC TG 21 Interim Financial Statements and International Accounting Standard (IAS) 34—Interim Financial Reporting, as issued by the International Accounting Standards Board. EBITDA should not be considered an alternative to net income as an indicator of the Company’s operating performance, or an alternative to cash flow as an indicator of liquidity. The Company’s management believes that EBITDA is a practical measure for assessing its operating performance and enabling comparison with other companies. The Company calculates EBITDA in accordance with CVM Resolution 156, as amended on August 1, 2022. Accordingly, EBITDA represents net income (loss) before interest, income tax, social contribution, and depreciation/amortization. Cruzeiro, August 5, 2026.
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12 page for 13 ADR: IOCJY 11) APPENDICES 11.1) Consolidated Statement of Income Consolidated I.S - R$ thousand 2Q26 2Q25 Var. 1H26 1H25 Var. Net Operating Revenue 4.012.470 4.106.968 -2,3% 7.819.803 8.045.018 -2,8% Cost of Goods Sold Raw Material (2.042.467) (2.044.159) -0,1% (3.966.830) (4.027.589) -1,5% Labor (730.470) (740.674) -1,4% (1.444.354) (1.459.708) -1,1% Others (753.989) (787.518) -4,3% (1.481.538) (1.579.373) -6,2% (3.526.927) (3.572.351) -1,3% (6.892.722) (7.066.669) -2,5% Gross Profit 485.543 534.617 -9,2% 927.081 978.349 -5,2% 12,1% 13,0% 11,9% 12,2% Operating Expenses Selling expenses (15.375) (26.065) -41,0% (37.082) (46.478) -20,2% General and administrative (189.447) (208.892) -9,3% (369.321) (406.035) -9,0% Management fees (9.018) (9.063) -0,5% (17.756) (17.608) 0,8% Other 2.576 (2.517) -202,3% (11.358) (8.585) 32,3% (211.264) (246.537) -14,3% (435.517) (478.706) -9,0% Equity Income 9.434 18.776 -49,8% 10.972 24.242 -54,7% Operating Income (EBIT) 283.713 306.856 -7,5% 502.536 523.885 -4,1% 7,1% 7,5% 6,4% 6,5% Financial Results Financial Revenue 30.357 34.225 -11,3% 59.175 68.454 -13,6% Financial Expenses (154.863) (159.902) -3,2% (310.189) (328.163) -5,5% Foreing exchange gains (losses) 7.464 (25.695) -129,0% (12.309) (31.654) -61,1% (117.042) (151.372) -22,7% (263.323) (291.363) -9,6% Earnings After Financial Results 166.671 155.484 7,2% 239.213 232.522 2,9% 4,2% 3,8% 3,1% 2,9% Income Taxes (43.399) (45.152) -3,9% (78.836) (86.658) -9,0% Minority Shareholders (36.403) (23.510) 54,8% (69.588) (48.150) 44,5% Net Income 86.869 86.822 0,1% 90.789 97.714 -7,1% 2,2% 2,1% 1,2% 1,2% EBITDA 417.527 450.479 -7,3% 774.572 804.840 -3,8% 10,4% 11,0% 9,9% 10,0%
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13 page for 13 ADR: IOCJY 11.2) Balance Sheet (Consolidated) jun-26 dec-25 jun-26 dec-25 CURRENT CURRENT Cash and Cash Equivalents 1.868.049 1.599.733 Borrowings, Financing and Debentures 265.029 356.196 Trade Receivables 1.850.701 1.333.705 Trade Payables 2.522.216 1.950.556 Inventory 2.546.919 2.465.712 Tax obligations 193.620 196.478 Recoverable Taxes 499.212 498.665 Social and Labor Obligations 559.457 496.288 Prepaid Expenses 106.577 92.499 Advances from Customers 24.426 27.993 Derivative Financial Instruments 32.634 28.669 Derivative Financial Instruments - 1.023 Other 228.782 198.934 Dividends and Interests on Capital 52.247 42.437 7.132.874 6.217.917 Other 503.534 427.993 4.120.529 3.498.964 LONG TERM LONG TERM Borrowings, Financing and Debentures 5.398.534 5.275.350 Recoverable taxes 105.970 132.726 Provision for tax, civil and labor risks 65.991 42.040 Deferred income tax and social contribution 302.988 284.018 Deferred Income Tax and Social Contribution 34.595 40.968 Escrow deposits 80.500 56.891 Derivative Financial Instruments 424.604 439.751 Derivative Financial Instruments 77.466 45.656 Pension Plan Liabilities - - Other receivables 159.992 150.209 Other 198.369 243.662 Investments 189.146 295.306 6.122.093 6.041.771 Property, plant and equipment 4.591.055 4.841.597 EQUITY Intangible assets 2.188.299 2.263.699 Issued Capital 1.576.954 1.576.954 Right of use 99.337 104.465 Earning reserves 862.297 862.297 7.794.753 8.174.567 Capital reserves 3.061 3.061 Treasury Shares (62.353) (62.353) Equity valuation adjustment 1.624.446 1.941.764 Net income for the period 91.331 - Shareholders' Equity Attributed to Controlling Shareholders 4.095.736 4.321.723 Noncontrolling Interests in Subsidiaries' Equity 589.269 530.026 4.685.005 4.851.749 TOTAL ASSETS 14.927.627 14.392.484 TOTAL LIABILITIES 14.927.627 14.392.484 ASSETS LIABILITIES