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Documento Público Positivo Tecnologia FROM HARDWARE MANUFACTURER TO INTEGRATED PROVIDER OF INFRASTRUCTURE SOLUTIONS AND IT SERVICES INSTITUTIONAL PRESENTATION
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Documento Público Positivo Tecnologia POSITIVO TECNOLOGIA Positivo Tecnologia is a Brazilian company with 37 years of history, a leader in devices and technological solutions and, today, transformed into a complete ecosystem of IT infrastructure, managed services and hardware. With a national presence, five manufacturing units, more than 12 thousand points of sale and more than 6 thousand specialized professionals, the company operates from the edge to the cloud, offering from computers, mobility, high- performance servers and payment solutions to IT services, hybrid cloud, cybersecurity, analytics and digital service via Positivo S+. It combines its own engineering, strong industrial capacity, global partnerships with leading technology companies and an increasingly recurring business model, serving retail, private corporate sector and public institutions across the country with complete and highly reliable solutions.
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Documento Público Positivo Tecnologia RAYMUNDO PEIXOTO CHAIRMAN FERNANDO COSTA SHIN LAI ADVISORY COMMITTEES ALEXANDRE DIAS Audit Committee Finance Committee People Committee Marketing and Communications Committee Strategy and New Business Committee Integrity Committee Independent members: Hélio Rotenberg CEO and Board Member André Kriger VP of Strategy and Innovation Fabio Faigle CFO e DRI Carlos Maurício CEO of Positivo S+ Edson Toffoli VP of Operations Marielva Dias VP of Public Institutions Rodrigo Guercio VP of Corporate Business Norberto Maraschin VP of Consumer and Mobility Business Martin Oyanguren VP of Educational Technology CORPORATE GOVERNANCE WITH EXPERIENCED EXECUTIVES AND COMPLEMENTARY SKILLS BOARD OF DIRECTORS 3
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Documento Público Positivo Tecnologia OUR STRENGTHS: A MULTIDIMENSIONAL MOAT THESE CAPABILITIES ENABLE US TO CAPTURE VALUE WHERE GLOBAL PLAYERS OR STANDALONE INTEGRATORS FALL SHORT. History of resilience: 37 years in the market. The only national hardware manufacturer in large scale. Mastering the global technology ecosystem, unique in Brazil. Manufacturing flexibility ensures scale and customization capabilities. In-depth knowledge of “PPB” and tax incentives They strengthen competitiveness. Comprehensive logistical reach in a continental country. Decades of experience in the public sector with a strong reputation for integrity and quality in delivery. Broad and integrated "full stack" portfolio(HW + SW + services). Strategic partnerships with global leaders (Microsoft, Intel, Google, Nvidia, Nutanix, Supermicro). Technical ability to develop IT projects "Full Stack" complex and customized high-scale systems (e.g., electronic voting machines). Highest NPS score in services. Acquisition of one of the most reputable managed services companies in Brazil and Latin America, Algar Tech MSP, now Positivo S+. 4
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Documento Público Positivo Tecnologia Our Journey: we have evolved from a consumer device-focused company into a business with a broad portfolio of end-to-end IT products, services, and solutions for retail as well as public and private institutions 1989-2017 2018-2023 2024 2024-2028 Business diversification strategy Devices portfolio Notebooks, desktops Tablets e Cellphones Expansion of managed IT services offering Consolidation of the diversification strategy - an integrated IT infrastructure player emerges 5
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Documento Público Positivo Tecnologia STRATEGIC CONTEXT A NECESSARY TRANSFORMATION JOURNEY Until 2018: A concentrated business model The transformation was a structural change in how Positivo competes and creates value. From 2018 onwards: In-depth Strategic Review • Concentration of channels and products. • Transactional model, lower recurrence. • Portfolio Diversification. • Entry into higher value-added markets, such as services and infrastructure. • More relational and recurring business. • Leveraging existing industrial assets. • Working capital intensive. • Scalable business model with lower capital intensity. • More compressed margins. 6
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Documento Público Positivo Tecnologia WHERE WE ARE TODAY: WE HAVE ADVANCED IN ALL THE FRONTS OF THE REVIEW STRATEGIC Positivo is today a Company substantially more diverse and resilient.
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Documento Público Positivo Tecnologia Managed IT Services Positivo S+ Established as a platform for recurring services from PC to the Data Center, it integrates advanced support, device management and field solutions, in Brazil and Latin America. Infrastructure High-performance servers gaining traction - technology for AI and next-generation data centers, prepared for strategic national projects: PBIA, Sovereign Cloud, and Redata. HaaS Hardware as a Service gaining scale in B2B - recurring flows and more predictable long-term relationships. Payment Solutions Leadership in SMART POS - Complete solution: HW + SW with proprietary technology. Client base includes the largest acquirers in the country. Installed base of > 2 million smart POS machines. A mix of revenue streams with accelerated growth in higher-margin and recurring revenue lines. WHERE ARE WE TODAY: WE'VE MADE PROGRESS ON ALL FRONTS OF THE STRATEGIC PLAN 8
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Documento Público Positivo Tecnologia 9 91% 65% 55% - 3% 7% 1% 10% 20% 6% 10% 13% 2% 6% 6% 6% 2,155 4,288 3,9535.7% 9.9% 9.3% 0,0% 2,0% 4,0% 6,0% 8,0% 10,0% 12,0% - 1.000 2.000 3.000 4.000 5.000 6.000 7.000 8.000 2023 2024 Evolution of Gross Revenue and EBITDA Margin PC+Mobility Servers Services POS Others PE TOTAL adjusted EBITDA margin REVENUE PROGRESS SINCE THE 2018 STRATEGIC REVIEW STRATEGIC CONTEXT Greater diversification towards B2B With greater potential growth 2025
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Documento Público Positivo Tecnologia SEGMENTATION OF POSITIVO TECNOLOGIA'S BUSINESS IT Infrastructure, Services and Solutions (ISS) Sales to the public and private sector: PCs, tablets and other devices, customized equipment (such as kiosks, self-service terminals or others), as well as servers, licenses and software solutions, managed IT services (MSP) and maintenance services (break and fix) Smart Devices - Consumer (DI) Technology devices for the end consumer, via retail distributors in general, direct online channels (D2C) and via sellers in marketplaces. Adjacent Businesses Electronic security (Positivo Seg), educational platforms (Educacional) and other businesses not classified in the other groups. STRATEGIC CONTEXT Payment Solutions Smart payment terminals (Smart POS), corresponding maintenance services (break and fix), software solutions and licenses. 3% 2Q26 ISS Infrastructure, IT Services & Solutions Payment Solutions Business 54% 30% 14% 2% R$ 1,127 M Gross Revenue DI Smart Devices – Consumption 10
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Documento Público Positivo Tecnologia ASPIRATIONS: WHERE THE TRANSFORMATION LEADS
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Documento Público Positivo Tecnologia 12 ASPIRATIONS: TO BE LEADER IN INFRASTRUCTURE AND IT SERVICES IN BRAZIL AND LATIN AMERICA. Positioning To be the leading strategic partner for IT infrastructure solutions and services, especially for companies of all sizes. Business model Focus on businesses with recurring revenue, higher margins, greater predictability, and cash generation. Delivery capacity Capturing large, highly complex technology projects.
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Documento Público Positivo Tecnologia LARGE ADDRESSABLE MARKET TO BE EXPLORED Current market in Brazil: R$ 90 Billion + data center (a) R$ 48 bi Serviços TIC (b) R$ 28 bi PCs e Tablets R$ 5 bi Segurança eletrônica R$ 4 bi Servidores R$ 4 bi Soluções de pagamento Educacional ICT Services: Projected growth of 17% per year until 2028 Services with higher penetration. Services with lower penetration. Data center / AI services – to be defined (R$) 13 R$ 48 B ICT Services (b) R$ 28 B PCs and Tablets R$ 5 B Electronic security R$ 4 B Servers R$ 4 B Payment solutions Educational Managed End User Services 21% Data, Analytics & AI 34% Infra, Cloud & Edge Services 24% Security 14% Servers & Storage Services 7% a) It does not include major projects such as the Brazilian Artificial Intelligence Plan and the National Data Center Plan. b) Services where Positivo already operates. Sources: ICT Services: Global Data; PCs, Tablets, Electronic Security, Payment Systems and Education – figures based on estimates combined with data from research institutes.
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Documento Público Positivo Tecnologia WHERE WE PLAYED: CLEAR CHOICES FOCUS AND EXPANSION
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Documento Público Positivo Tecnologia WHERE WE WANT TO PLAY: CLEAR CHOICES OF FOCUS AND EXPANSION CORE STRATEGIC Infrastructure, services and IT solutions (ISS) Initial focus on Brazil with Latam expansion. Capture transformational business (PBIA, Sovereign Cloud, Redata). GROWTH ENGINES Solutions Payment HaaS (Hardware as a Service) Managed Services IT (MSP) AI/ Servers Data Centers DI - Smart Devices of Consumption Relevant to brand and scale BRAND ADVOCACY 15
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Documento Público Positivo Tecnologia HOW WE’LL WIN: INTEGRATION, SIMPLIFICATION AND ORCHESTRATION.
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Documento Público Positivo Tecnologia RELATIONSHIP CROSS-SELLINTEGRATED OFFER Positivo as an "orchestrator" of Clients' Technological Infrastructure, offering HW+SW+ Services solutions. TECHNOLOGICAL INFRASTRUCTURE ORCHESTRATOR NTEGRATION, SIMPLIFICATION AND ORCHESTRATION Complete solutions (hardware + services + solutions). Enabled by a comprehensive portfolio and broad installed base. . Migration of transactional interactions for recurring customers. POSITIONING AS A BRAZILIAN TECHNOLOGY LEADER, AT A TIME OF GEOPOLITICAL FRAGMENTATION WHICH BENEFITS A STRONG NATIONAL PLAYER. 17
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Documento Público Positivo Tecnologia POSITIONED TO WIN LARGE-SCALE, HIGHLY COMPLEX TECHNOLOGY INFRASTRUCTURE PROJECTS IN BOTH THE PUBLIC AND PRIVATE SECTORS Public and Private Sector AI INFRASTRUCTURE AND DEVELOPMENT SERVERS FOR “REDATA”, WITHIN THE NATIONAL DATA CENTER POLICY Public investment of R$ 5,8 billion in AI infrastructure over 4 years(Axis 1) Expected total private investment of R$ 2 trillion over 10 years. SOVEREIGN CLOUD Public investment of R$ 1,8 billion for the construction of a Sovereign Cloud: security and privacy of public data(Axis 3) GROWING DEMAND FOR AI SERVERS AND HYBRID CLOUD/DATA REPATRIATION FOR LARGE ENTERPRISES. PBIA – Brazilian AI Plan Possible New Projects ELECTRONIC VOTING MACHINE Public Consultation for 130,000 units (2028 elections) LOTTERY TERMINAL Combination of technologies that we have already mastered OTHER PROJECTS 18
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Documento Público Positivo Tecnologia INVESTMENT THESIS RESILIENCE WITH GROWTH PROVEN TRANSFORMATION: Success in the transformation from 2018 to 2025. NON-REPLICABLE QUALITIES: Production scale and flexibility + capability in complete solutions + logistical reach. STRUCTURAL FAVORABLE WINDS: Exposure to AI, Digital Payments, IT Services.. FINANCIAL DISCIPLINE: Prioritizing the optimization of the capital structure to reduce debt, generate more profit and cash, and create value. VALUATION OPPORTUNITY: Re-rating from hardware manufacturer to an integrated IT infrastructure and services platform (with no direct competitor). FAVORABLE GEOPOLITICAL WINDS: The only Brazilian player with ambitions for national leadership, at a time of geopolitical fragmentation. ADVANCED ENGINEERING CAPABILITY: Delivery of complex and customized full-stack IT projects, with large-scale execution. 19
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Documento Público Positivo Tecnologia ISS - IT Infrastructure, Services and Solutions
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Documento Público Positivo Tecnologia Devices Servers and Storage Cloud We are the only company in Brazil with an integrated IT infrastructure offer: from devices, to the datacenter, to the cloud HYBRID CLOUD Data Server Data Server+ GPU Model Training Server AI / HPC Supercluster EDGE HW/HaaS Dispositivos MSP/ Digital Workplace CORE HW/HaaS/Infr astructure HW/HaaSDigital Transformation Projects MSP/Digital Transformation Projects MSP/ IT ManagementData center(NOC/SOC) CLOUD MSP / Consulting (Cloud & AI) SaaS / PaaS 21
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Documento Público Positivo Tecnologia Through strong partnerships with global leaders, we can meet all the IT infrastructure THAT businesses need for their digital transformation SERVERS STORAGE HCI HPC EDGE SERVER “IaaS” “SaaS” “PaaS” PARTNERSHIPSPRODUCTS SOLUTIONS 22 HYBRID CLOUD 5G EDGE COMPUTING HPC COMPUTE OF HIGH PERFORMENCE IA MICROSERVICES CONTAINERS
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Documento Público Positivo Tecnologia Positivo S+ has a broad Services Portfolio That Maximizes Productivity, Uptime and Data Security Intuitive Service Desk (ISD) Field Service Management IT Inventory & Rollout IT Infrascture & Cloud Mgmt Network Operation Center (NOC) IT Projects ID Management Secury Operation Center (SOC) Cybersecury Management AMS Agile Development Consultancy Services DIGITAL WORKPLACE IT INFRASTRUCTURE & CLOUD SERVICES CYBERSECURITY (MSSP) APPLICATIONS DATA & ANALYTICS INTUITIVE AND AUTONOMOUS DIGITAL SUPPORT 24X7 OBSERVABILITY AND AUTOMATION WITH EXPERT SUPPORT END-TO-END PROTECTION OF TECHNOLOGY ASSETS AGAINST CYBERCRIME APPLICATION DEVELOPMENT, SUPPORT AND MAINTENANCE DATA CLEANSING, CONSOLIDATION AND GOVERNANCE Master Data Management Business Continuity Management (BCM) 23
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Documento Público Positivo Tecnologia ISS – GROSS REVENUE 3 84 34 155 103 174 154 168 213 171 189 258 231 303 166 226 711 2Q25 5 3Q25 79 4Q25 711 1Q26 513 440 687 458 2Q26 604 5 10 Computers S+ and other services Servers Mobile devices Other R$ million 24
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Documento Público Positivo Tecnologia DI - Consumer Smart Devices
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Documento Público Positivo Tecnologia OUR PORTFOLIO 26
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Documento Público Positivo Tecnologia Diversification for online sales: less dependence on large retailers and better commercial conditions 11% 24% 65% 2022 2Q25 R$ 1.0 M revenue by sales channel: 46% 21% 33% R$ 337 M 27 Smart Devices – Consumer (DI) Great Varejistas D2C + Sellers Regional retailers 2Q26 36% 26% 38% R$ 312 M
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Documento Público Positivo Tecnologia Payment Solutions
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Documento Público Positivo Tecnologia 23 A BOOMING MARKET POSITIVO'S DIFFERENTIALS National Technology (SW e HW) Google EDLA Partner in Latam: Google Play Store and device security Proprietary technology software: MDM, APK management, Payment Platform/APIs financial integration Annual market of 5 Mn machines: 3Mn Smart POS (+20% in 2025 x 2024) Recurring Services (Break & Fix over 5 years) 29
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Documento Público Positivo Tecnologia 127 141 196 275 11 2Q25 15 2Q26 138 156+14% 2Q26 x 2Q25 71 214 263 420 522 75 236 374 822 34 2021 40 2022 11 2023 576 16 2024 44 2025 105 254 274 436 566 # de POS Gross Revenue (services) Gross Revenue (hardware) CAGR: 52% Payment Solutions 30 A strong 2026 pipeline, with new large merchant acquirers in prospect Proprietary software: MDM, business management and payment solutions Growth in share of recurring customers Expansion of services revenue, due to the largest fleet of active terminals,
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Documento Público Positivo Tecnologia 31 FINANCIAL RESULTS
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Documento Público Positivo Tecnologia Gross Revenue R$ million EBITDA and EBITDA Margin R$ million Net Income and Net Margin R$ million 2021 2022 2023 2024 2025 3,987 5,867 4,729 4,288 3,953 -8% 345 675 564 367 313 10.2% 2021 13.5% 2022 14.4% 2023 9.9% 2024 9.3% 2025 -14.7% 174 306 251 85 5.2% 2021 6.1% 2022 6.4% 2023 2.3% 2024 0.4% 2025 12 -85.9% 946 994 2T24 2T25 2T26 1,127 +13% 84 74 86 10,4% 2T24 8,8% 2T25 9,1% 2T26 +16.2% 5 2 3 0.6% 2T24 0.3% 2T25 0.3% 2T26 +14.5% FINANCIAL HIGHLIGHTS 32
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Documento Público Positivo Tecnologia 44% 625 573 666 674 733 2.1 1.9 2.1 2.1 2.1 -0,4 0,1 0,6 1,1 1,6 2,1 2,6 0 500 1000 1500 2000 2Q25 3Q25 4Q25 1Q26 2Q26 Net Debt Net Debt/LTM EBITDA FINANCIAL HIGHLIGHTS Partition (R$ million) Produtos 33 Gross Debt Cost of Debt Duration 44% 40% 16% Working Capital Development Commercial Note 2Q26 2Q25 1,223 M CDI – 0.19% a.a. 2.20 years 1,301 M CDI + 0.19 a.a. 2.01 years 1,232 1,226 1,301 1,379 1,284 1,280 1,223 -0,4 0,1 0,6 1,1 1,6 2,1 2,6 0 500 1000 1500 2000 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Reduction of gross debt
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Documento Público Positivo Tecnologia FINANCIAL HIGHLIGHTS Debt Evolution(R$ million) R$ 490 Cash 3Q26 4Q26 1Q27 2Q27 3Q27 4Q27 2028 2029 2030 Debt profile 59% 41% 28% 72% Long Term Short Term 2Q26 2Q25 Short-term coverage ratio 1.5x 34
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Documento Público Positivo Tecnologia Guidance 2026 Gross Revenue 2025 Gross Revenue 2026 4,0 4,0 - 4,2 Gross Revenue Projection 2026 R$ 4.0 to R$ 4.2 billion Global technology environment requires prudent posture • Cost pressure in the industry • Rising memory prices (DRAM and NAND), driven by demand from data centers and AI • Potential impact on costs and price pass-through • Main risks considered in the guidance • Cost pressure on contracts signed in the public sector, prior to the rise in prices • Difficulty in passing on to corporate and consumer customers • Counterpoints and strategic execution • Growth of IT infrastructure avenues: Servers, HaaS, and Services • Expansion of Payment Solutions Active management of costs, inventories and portfolio 35
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Fabio Trierweiler Faigle CFO e DRI Luiz Palhares IR Director Rafaella Nolli RI Manager E - mail: ri@positivo.com.br Website: www.ri.positivotecnologia.com.br