Earnings release
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ADR: IOCJY Earnings Conference Call Date: November 5, 2026 Time: 10:00 a.m. (BRT) Simultaneous translation into Portuguese and English. Access: Iochpe-Maxion Website: www.iochpe.com.br Earnings 3Q26
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2 page for 13 ADR: IOCJY 1) MESSAGE FROM THE CEO During the third quarter of 2026, Iochpe-Maxion S.A. (“Company” or “Maxion”) reported positive business performance in a global environment still characterized by varying dynamics across regions and segments of the automotive industry. Our performance for the period underscores the benefits of the Company’s geographic and portfolio diversification, as well as our ability to capture growth opportunities even in markets with varying levels of activity. We maintained our focus on operational excellence, financial and capital allocation discipline, further improving profitability and cash generation across different market cycles. In South America, strong light vehicle demand, particularly in Brazil, supported our aluminum wheel business, more than offsetting the year-over-year decline in commercial vehicles. We are capturing opportunities from new automotive entrants in the region, while remaining cautious on Brazil’s commercial vehicle recovery. In North America, commercial vehicle production recovered significantly from 2025 and early -year levels, while the light vehicle market remained under pressure. However, in spite of this, o ur light vehicle aluminum wheel business continued to progress , and Structural Components delivered strong growth, even outpacing the market. In Europe, the light vehicle market remained relatively stable despite variations across countries, customers and platforms. Maxion showed very positive performance in light vehicle aluminum wheels and continued growth in commercial vehicles . We also launch ed forged aluminum wheels for commercial vehicles, expanding our portfolio of solutions and creating a new growth opportunity as volumes will ramp up over the coming years. Europe is a very dynamic market in which Maxion has a very competitive footprint and product portfolio. In Asia, strong growth continued, led by India, supported by market expansion, new programs and demand for light and commercial vehicle wheels. The Company is expanding its Indian operations fully in line with volumes already allocated through significant new business wins in both the light and commercial vehicle segments. In Thailand, Maxion is regaining volume in a light vehicle market showing recovery. From a financial perspective, net operating revenue reached R$ 4.4 billion in 3Q26, a 15.8% increase compared to the same period last year. Adjusted
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3 page for 13 ADR: IOCJY EBITDA reached R$ 480.5 million, up 22.6%, with an adjusted EBITDA margin of 10.9%, compared to 10.3% in 3Q25. We also maintained a solid financial position. At the end of the quarter, net debt stood at R$ 3.7 billion, and financial leverage—measured by the net debt-to-EBITDA ratio for the last twelve months —ended the period at 2. 50x, compared to 2.52x at the end of the second quarter and 2.55x in 3Q25. Looking ahead, we remain confident in the opportunities associated with our strong positions in Europe and India, the light vehicle market in South America, and the overall strong outlook for commercial vehicles – globally, particularly in North America. Also, the development of new and innovative opportunities in our portfolio will be contributors to achieving our growth targets. At the same time, we will continue to closely monitor and manage through geopolitical impacts and adapt if and when appropriate. 2) 3Q26 HIGHLIGHTS Net operating revenue of R$ 4,404.9 million in 3Q26, representing growth of 15.8%¹ Gross profit of R$ 587.2 million, with a gross margin of 13.3% in 3Q26, an increase of 27.6% and 1.2 p.p.¹ Adjusted EBITDA of R$ 480.5 million in 3Q26, with an adjusted EBITDA margin of 10.9%, representing growth of 22.6% and 0.6 percentage points¹ Financial leverage² of 2.50x in 3Q26, compared to 2.52x in 2Q 26 and 2.55x in 3Q25 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 periods indicated (in thousands): 1 Compared to the same period last year ² Net debt/EBITDA for the last 12 months
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4 page for 13 ADR: IOCJY The most recent forecasts from consulting firms for the year 2026 indicate a 1.7% decline in global light vehicle production (a 0.9% increase excluding China) and a 6.2% increase in global commercial vehicle production (a 6.8% increase excluding China). 4) OPERATING AND FINANCIAL PERFORMANCE 4.1) Net Operating Revenue Consolidated net operating revenue reached R$ 4,404.9 million in 3Q26 and R$ 12,224.7 million in 9M26, representing a 15.8% increase compared to 3Q25 and a 3.2% increase compared to 9M25. This performance was driven primarily by growth in the light vehicle business in Brazil, the recovery of the commercial vehicle segment in North America, and the strong performance of operations in Asia. These effects were partially offset
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5 page for 13 ADR: IOCJY by lower commercial vehicle activity in Brazil and by the negative impact of the real’s appreciation against the dollar on the translation of revenue from overseas operations, which reduced net operating revenue by R$ 233.8 million in 3Q26 and R$ 710.5 million in 9M26. The following table shows the performance of consolidated net operating revenue by region and by product for the periods indicated. 4.2) Cost of Goods Sold Cost of goods sold totaled R$ 3,817.7 million in 3Q26 and R$ 10,710.4 million in 9M26, representing increases of 14.2% and 2.9%, respectively, compared to the same periods in 2025. This change is primarily attributable to higher levels of activity in certa in businesses and regions, in line with revenue growth during the respective periods. 4.3) Gross Profit Gross profit reached R$ 587.2 million in 3Q26, with a gross margin of 13.3%, and R$ 1,514.3 million in 9M26, with a gross margin of 12.4%, representing increases of 27.6% and 5.3%, respectively, compared to the same periods in 2025. The expansion of the gross margin in the quarter primarily reflects the greater dilution of fixed production costs , resulting from higher activity levels and
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6 page for 13 ADR: IOCJY increased volumes in certain businesses, particularly commercial vehicles in North America and our overall business in Asia. 4.4) Operating Expenses Operating expenses, which include selling, general, and administrative expenses, as well as management fees, totaled R$ 224.0 million in 3Q26 and R$ 648.2 million in 9M26, representing a 6.6% increase compared to 3Q25 and a 4.7% decrease compared to 9M25. During the quarter, operating expenses grew at a slower rate than net operating revenue and represented 5.1% of revenue, compared to 5.5% in 3Q25. For the first nine months, this ratio also improved, falling from 5.7% in 9M25 to 5.3% in 9M26. This trend co ntributed positively to the Company’s operating profitability in the respective periods. 4.5) Other Operating Expenses/Revenues Other operating expenses/income were negative R$ 113.9 million in 3Q26, compared to negative R$ 39.3 million in 3Q25. In 9M26, the result was negative R$ 125.3 million, compared to negative R$ 47.9 million in 9M25. The variation was mainly due to the recognition of a provision related to a regulatory matter, in the amount of € 15 million (R$ 88.7million). 4.6) Equity Method Income Equity in earnings was positive at R$ 10.6 million in 3Q26, compared to R$ 11.1 million in 3Q25. In 9M26, the positive result totaled R$ 21.6 million, compared to R$ 35.4 million in 9M25. In 3Q26, the result benefited from Amsted -Maxion’s improved performance compared to the same period of the prior year, partially offset by lower earnings from Maxion Montich, primarily reflecting the more challenging performance of the Argentine market. The year -over-year comparison also reflects changes in investments accounted for using the equity method, due to the discontinuation of Dongfeng Maxion’s operations in 2Q26 and the consolidation of Polimetal into the Company’s financial statements. The following table presents the amounts corresponding to equity investments accounted for using the equity method, reflecting their impact on the Company’s earnings.
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7 page for 13 ADR: IOCJY 4.7) Operating Income (EBIT) Operating income (EBIT) reached R$ 259.8 million in 3Q26, with a margin of 5.9%, compared to R$ 221.9 million and a margin of 5.8% in 3Q25. The non- recurring impact mentioned in item 4.5, “Other Operating Expenses/Income,” was more than offset by higher revenue, gross margin expansion and lower operating expenses as a percentage of revenue. 4.8) Gross Cash Generation (EBITDA) EBITDA, calculated in accordance with CVM Resolution No. 156, reached R$ 386.3 million in 3Q26, with a margin of 8.8%, compared to R$ 360.4 million and a margin of 9.5% in 3Q25. In 9M26, EBITDA totaled R$ 1,160.8 million, with a margin of 9.5%, compared to R$ 1,165.3 million and a margin of 9.8% in 9M25. Excluding the effects of non-recurring items, adjusted EBITDA reached R$ 480.5 million in 3Q26, up 22.6%, with a margin of 10.9%, compared to R$ 391.9 million and a margin of 10.3% in 3Q25. In 9M26, adjusted EBITDA reached R$ 1,211.9 million, up 2.2%, with a margin of 9.9%, compared to R$ 1,185.5 million and a margin of 10.0% in 9M25. The following table shows the evolution of EBITDA. 4.9) Financial Results The financial result was negative by R$ 193.0 million in 3Q26, an increase of 33.6% compared to 3Q25. For the 9M26, the financial result was negative by R$ 456.4 million, representing a 4.7% increase compared to the cumulative figure for 9M25.
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8 page for 13 ADR: IOCJY The increase in the net financial loss for the quarter primarily reflects the effects of the liability management transaction performed by the Company, which resulted in the extension of its debt maturity profile. Among the main impacts for the period are approximately R$ 25.8 million related to the accelerated amortization of costs from the previous bond and the premium for its early redemption. Additionally, the financial result now reflects the higher cost of the new debt structure. 4.10) Net Income The Company reported a net loss of R$ 16.0 million in 3Q26, compared to net income of R$ 35.1 million in 3Q25. In 9M26, net income totaled R$ 74.7 million, a 43.7% decrease from R$ 132.8 million in 9M25. 5) INVESTMENTS Investments totaled R$ 123.3 million in 3Q26, a 13. 3% decrease compared to 3Q25. On a comparable basis, excluding the effects of exchange rate fluctuations on the conversion of investments made abroad, the decrease was 10.9%. Investments were directed primarily toward projects in Europe and North America , 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 a disc iplined allocation of capital, with a focus on adequate returns. 6) LIQUIDITY AND DEBT The cash and cash equivalents balance as of September 30, 2026, was R$ 1,903.8 million. Consolidated gross debt (loans, financing, and debentures, both current and non-current) totaled R$ 5,630.2 million, with R$ 254.8 million (4.5%) recorded as current liabilities and R$ 5,375.4 million (95.5%) as non- current liabilities. The concentration of debt in the long term reflects, among other factors, the liability management transactions carried out by the Company, which contributed to the extension of the debt’s maturity profile. The main components of consolidated gross debt were: (i) lines of credit in Brazilian reais, which accounted for 54.0% (CDI + 0.9% per year), (ii) lines of credit in euros, accounting for 24.1% (4.9% per year), and (iii) lines of credit in U.S. dollars, accounting for 21.0% (5.7% per year).
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9 page for 13 ADR: IOCJY Consolidated net debt³ reached R$ 3,723.1 million, an increase of 1.0% compared to June 30, 2026, and a decrease of 5.9% compared to December 31, 2025. At the end of 3Q26, the ratio of net debt to trailing 12-month EBITDA was 2.50x, compared to 2.52x in 2Q26, 2.55x in 3Q25, and 2.65x in 4Q25. The reduction in leverage during the quarter was supported by the growth in trailing 12 -month EBITDA. 7) SHAREHOLDERS´ EQUITY Consolidated shareholders’ equity reached R$ 4,643.8 million (book value per share of R$ 30.21) as of September 30, 2026, a 4.3% 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 totaled R$ 4,047.4 million (book value per share of R$ 26.33) as of September 30, 2026, a 6.3% decrease 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 (B3: MYPK3) common shares closed 3Q26 at R$ 9.25, up 2.5% for the quarter and down 22.4% over the past 12 months. At the end of 3 Q26, Iochpe-Maxion reached a market capitalization of R$ 1,421.9 million (R$ 1,832.3 million at the end of 3Q25). 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 Stock Performance – Last 12 Months In 3Q26, Iochpe-Maxion shares had an average daily trading volume on B3 of R$ 7.2 million (R$ 13.1 million in 3Q25) and an average daily number of 3,043 trades (4,684 trades in 3Q25). 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 declares that it has discussed, reviewed, and approved the special review report prepared by the independent auditors and the quarterly information as of September 30, 2026. -22.40% 27.42% -30.0% -20.0% -10.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% set/25 out/25 nov/25 dez/25 jan/26 fev/26 mar/26 abr/26 mai/26 jun/26 jul/26 ago/26 set/26 MYPK3 Ibovespa 14,321 18,762 12,370 15,277 12,464 12,615 14,701 9,468 9,068 6,682 7,365 7,512 4,174 6,104 3,877 3,548 3,541 4,289 4,343 3,314 3,559 2,823 2,993 3,312 out/25 nov/25 dez/25 jan/26 fev/26 mar/26 abr/26 mai/26 jun/26 jul/26 ago/26 set/26 Volume Business
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11 page for 13 ADR: IOCJY The Company’s financial information presented herein complies with the criteria of Brazilian corporate law and has been prepared in accordance with NBC TG 21 Interim Financial Statements and International Accounting Standard (IAS) 34 —Interim Financial Repo rting, 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, November 4, 2026.
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12 page for 13 ADR: IOCJY 11) APPENDICES 11.1) Consolidated Statement of Income
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13 page for 13 ADR: IOCJY 11.2) Balance Sheet (Consolidated)