Slides
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Conference Call 2Q26 Marcopolo Marcopolo Marcopolo VOLARE ESCOLAR apimec 55 ANOS Marcopolo
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Important Our estimates and future statements are largely based on current expectations and projections in relation to future events and financial trends that affect or could affect our business. Many important factors can adversely affect our results, such as those predicted in our estimates and future statements. The words "we believe", "we can", "we aim to", "we estimate" and other similar words are for the purpose of identifying estimates and projections. The considerations about estimates and future statements include information related to results and projections, strategies, financing plans, competitive position, sectoral environment, potential growth opportunities, effects of future regulations and effects of competition. These estimates and projections refer only to the date when they were expressed. We cannot assume the obligation to publicly update or review any of these estimates due to new information arising, future events or any other factors, except for current regulations to which we are subject.
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Profile HIGHLITS 2Q26 42.5% Micros as a Percentage of Total Volume in 2Q26 23.0% ROIC +122% Growth in Micro Revenue R$ 2,373.3M Consolidated Net Revenue 48.3% Market Share R$ 271.2M Net Income Marcopolo is protagonist in the world bus market, a reference in body technology and leader in the Brazilian market. Founded in 1949, Marcopolo has been a public traded company since 1978. 15 thousand employees produce more than 15 thousand buses per year, bringing mobility and economic, social and environmental sustainability to millions of users of our products.
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3.896 4.870 4.665 5.480 4.413 1.779 1.241 1.792 2.676 2.648 2.411 3.398 4.659 2.446 3.968 3.201 1.545 1.598 5.109 4.211 4.466 4.271 3.809 4.168 4.498 4.889 5.793 4.948 3.416 2.823 3.801 2.589 2.800 3.483 1.490 1.298 28.286 31.778 28.614 28.838 24.620 13.343 9.874 9.804 14.797 17.873 13.299 9.895 15.545 17.023 20.299 20.832 10.110 10.934 37.291 40.859 37.745 38.589 32.842 19.290 15.613 16.485 23.266 25.469 19.126 16.116 24.005 22.058 27.067 27.516 13.145 13.830 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H25 1H26 Volare Export Market Domestic Market Brazilian Bus Body Production Between 2012 and 2025, the average age of the Brazilian bus fleet increased from 8 years to 11 years and 3 month. Minimum volume for sustainability of average age and fleet size. Accommodation of volumes, after a period of advance purchases. Euro 6Pandemic 5,2% Sales encouraged by lower financing costs.
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727 853 803 823 775 3.073 3.274 3.000 2.174 3.330 2Q25 3Q25 4Q25 1Q26 2Q26 Volare Model Bus Bodie Marcopolo’s Production 2Q26 -40,5% 2,9% 22,5% -71,3%-45,5% Quaterly Evolution by Type (units) 21,5% -49,0% 14,7% 2.733 344 723 102 145 142 34 300 3.321 354 430 52 79 174 39 86 Brazil Export External Units South Africa Argentina Australia China Mexico 2Q25 2Q26
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29,4% 24,8% 17,7% 19,5%0,9% 7,7% Coach City Bus Micros Volare Chassi Moneo Bank, Parts & Others Net Revenue Distribution by Segment (2Q26x2Q25) 25,5% 7,2% 39,4% 0,1% 8,2% 19,6% Net Revenue Distribution by Geography R$ Million 1.313,7 742,0 249,4 1.462,1 621,3 289,9 Brazil International Operations Exports from Brazil 2Q25 2Q26 6,4% 15,2% 63,0% 2,4% 13,0% South Africa Argentina Australia China Mexico
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2Q26 Results 2Q26 2Q25 ∆2Q26/2Q25 1H26 1H25 ∆ 1H26/1H25 Total Revenue 2.373,3 2.305,1 3,0% 4.028,5 3.982,5 1,2% Domestic Revenue 1.462,1 1.313,7 11,3% 2.361,8 2.246,2 5,1% Exports from Brazil 289,9 249,4 16,2% 449,2 424,5 5,8% Revenue from International Operations 621,3 742,0 -16,3% 1.217,5 1.311,8 -7,2% Gross Profit 519,7 593,2 -12,4% 893,1 977,5 -8,6% Gross Margin 21,9% 25,7% -3,8 pp 22,2% 24,5% -2,3 pp EBITDA 338,6 398,3 -15,0% 643,3 660,3 -2,6% EBITDA Margin 14,3% 17,3% -3 pp 16,0% 16,6% -0,6 pp Net Profit 271,2 321,1 -15,5% 535,8 564,2 -5,0% Net Margin 11,4% 13,9% -2,5 pp 13,3% 14,2% -0,9 pp
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Market Scenario CITY BUS Higher value-added models remain a key highlight, particularly double-decker buses. Move-related orders are scheduled for delivery primarily in 3Q26.Diesel and other operating costs remain a short-term headwind for customers. The New Public Transport Framework is expected to support fleet renewal over the medium to long term. Marcopolo delivered 67 Attivi electric buses in 2Q26. In 2Q26, Marcopolo delivered 443 units under the Road to School program and 1,246 micro buses to the Ministry of Health. Micro buses continued to stand out, supported by deliveries under Phase 12 of the Road to School and Road to Health programs. The outcome of Phase 13 of the Road to School program is awaiting formal approval. The decline reflects a more cautious market in light of the current macroeconomic environment. Performance & Projections MICRO & VOLARE COACH
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South Africa (MASA): Weak demand has led to a deterioration in market conditions, resulting in a revision of the outlook for the year. Argentina (Metalsur): The operation underwent a restructuring process in response to tighter credit conditions for local customers. Australia (Volgren): Delivered exceptional performance, with revenue growth and improved profitability in 2Q26, reaffirming positive expectations for the year and a favourable outlook already extending into 2027. China (MAC): Continues to face challenges in sustaining results throughout 2026. Colombia (Superpolo): Maintained consistent results while awaiting progress related to the Bogotá public transportation system tender. Mexico (Polomex): Maintained a pace similar to 1Q26, reflecting customer caution amid uncertainty surrounding the trade agreement with the United States. International Operations Controlled & Affiliates Polomex 74% Superpolo 50% Metalsur 100% MASA 100% Volgren 100% MAC 100% New Flyer 8,1%
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Ongoing cost and expense control. Brazilian Tax Reform. Seasonality and product mix. Focus on value creation, efficiency, and competitiveness. U.S. dollar depreciation and its impacts. Market Scenario Capital Allocation Discipline Performance & Projections Investments aligned with future demand expectations. Brazil's largest industry trade fair, held from August 11 to 13. Platform for discussing strategic topics across various industry segments. Lat.Bus 2026 Showcasing innovation, technology, and new product launches.
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APPENDIX
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Consolidated Net Revenue BRL Million 1.263,5 788,3 1.086,5 1.916,1 2.252,7 1.817,8 1.784,2 3.179,2 4.019,7 5.478,2 4.945,6 1.313,7 1.462,1 746,0 950,0 999,5 1.360,4 1.015,3 938,3 649,3 1.018,6 830,1 873,8 1.145,3 249,4 289,9 729,6 835,8 790,0 921,0 1.046,5 833,5 1.065,9 1.217,8 1.833,4 2.241,8 2.966,7 742,0 621,3 2.739,1 2.574,1 2.876,0 4.197,5 4.314,5 3.589,7 3.499,4 5.415,6 6.683,2 8.593,8 9.057,5 2.305,1 2.373,3 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2Q25 2Q26 Revenues in Brazil Exports revenue from Brazil Revenue overseas TOTAL
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Gross Profit & Gross Margin 25,7% 26,7% 26,0% 22,6% 21,9% 24,5% 22,2% BRL Million 593,2 668,7 668,1 373,4 519,7 2Q25 3Q25 4Q25 1Q26 2Q26 977,5 893,1 1H25 1H26 12,7% 14,0% 15,8% 15,1% 16,6% 10,2% 15,3% 23,0% 24,8% 25,6% Gross Margin 325,8 403,6 664,3 650,3 595,6 356,2 829,5 1.538,6 2.131,4 2.314,3 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Gross Profit
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EBITDA & EBITDA Margin 16,6% 16,0% 353,6 119,7 362,1 338,0 268,9 333,5 385,6 946,9 1.625,2 1.506,1 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 EBITDA BRL Million 398,3 419,8 426,0 304,8 338,6 2Q25 3Q25 4Q25 1Q26 2Q26 17,3% 16,8% 16,6% 18,4% 14,3% 660,3 643,3 1H25 1H26 13,7% 4,2% 8,6% 7,8% 7,6% 9,5% 7,1% 14,2% 18,9% 16,6% EBITDA Margin
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Net Income & Net Margin 13,9% 13,2% 13,3% 16,0% 11,4% 14,2% 13,3% BRL Million 321,1 329,6 341,7 264,6 271,2 2Q25 3Q25 4Q25 1Q26 2Q26 564,2 535,8 1H25 1H26 222,5 82,1 190,9 212 90,7 358,4 436,8 810,8 1.222,4 1235,1 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Net Income 8,6% 2,9% 4,5% 4,9% 2,6% 10,2% 8,1% 12,1% 14,2% 13,6% Net Margin
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Earnings Per Share 0,248 0,078 0,203 0,214 0,096 0,381 0,464 0,861 1,086 0,996 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 LPA 0,285 0,292 0,275 0,213 0,218 2T25 3T25 4T25 1T26 2T26 0,501 0,432 1S25 1S26
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Indebtedness BRL Million 232,4 296,8 550,4 108,4 395,3 615,3 648,2 121,2 125,5 281,9 187,9 475,1 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2Q25 2Q26 Industrial Net Debt 0,7 2,3 1,5 0,3 1,5 1,4 1,7 0,1 0,1 0,2 0,1 0,3 Industrial Net Debt / EBITDA 608,4 486,0 415,7 468,5 523,9 480,7 478,8 693,0 1.032,6 1.199,3 1.174,1 1.340,8 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2Q25 2Q26 Financial Net Debt
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Dividends, Pay-out & Dividend Yield BRL Million R$118,43 R$36,36 R$82,91 R$101,68 R$42,26 R$100,55 R$220,05 R$226,00 R$580,70 R$1.161,29 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Paid amount 4,7% 1,0% 2,2% 2,4% 1,6% 3,5% 8,3% 3,4% 6,4% 15,7% Dividend Yield 53,9% 50,4% 44,4% 50,4% 40,7% 29,0% 50,4% 27,9% 47,5% 94,9% Pay-out R$0,13 R$0,04 R$0,09 R$0,11 R$0,04 R$0,11 R$0,23 R$0,24 R$0,55 R$0,94 Dividend per share
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53,7 257,4 250,6 13,2 167,1 39,5 94,7 391,5 15,2 80,5 South Africa Argentina Australia China Mexico 2Q25 2Q26 104,6 400,0 472,2 30,4 304,6 104,1 212,1 763,5 28,9 108,8 South Africa Argentina Australia China Mexico 1H25 1H26 Consolidated International Operations Net Revenue -63,2% 56,2%61,7% 865,9 1.068,8 1.217,5 1.814,9 2.241,8 2.966,7 2020 2021 2022 2023 2024 2025 -51,8% -0,5% -47,0% -64,3% -26,5% 14,9% -4,9% BRL Million 249,4 289,9 2Q25 2Q26
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6,2 32,2 35,0 0,4 6,72,7 -5,8 52,8 1,4 -4,6 South Africa Argentina Australia China Mexico 2Q25 2Q26 12,8 54,1 55,3 4,0 11,69,6 -1,9 100,6 1,7 -10,3 South Africa Argentina Australia China Mexico 1H25 1H26 Consolidated International Operations Net Income -117,9% 50,9%81,9% -168,4% BRL Million -60,7 -75,3 -87,8 -8,8 216,0 338,1 2020 2021 2022 2023 2024 2025 -56,8% 245,8%-24,9% -103,6% -188,4% -56,9% 80,5 46,5 2Q25 2Q26
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Canada Colombia -43,3 11,1 -55,0 -27,0 1,3 -112,8 2020 2021 2022 2023 2024 2025 Consolidated International Operations Equity IncomeBRL Million -3,0 -71,3 -62,0 70,3 4,8 2Q25 3Q25 4Q25 1Q26 2Q26 2,1 4,5 5,7 2,9 3,3 2Q25 3Q25 4Q25 1Q26 2Q26
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ri.marcopolo.com.br | ri@marcopolo.com.br THANK YOU FOR YOUR ATTENTION!