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Aug 4th, 2026 3pm BRT / 2pm US-EST Results Presentation 2026 2nd Quarter
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Disclaimer This communication contains forward-looking statements based on the current expectations and beliefs of Tegma's management. Unless indicated, Tegma is providing this information as of the date of this communication and does not undertake any obligation to update any forward -looking statements contained in this document as a result of new information, future events or otherwise. No forward-looking statement can be guaranteed and actual results may differ materially from those we project. 2
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LOREM IPSUM IS SIMPLY DUMMY LOREM IPSUM IS SIMPLY DUMMY LOREM IPSUM IS SIMPLY DUMMY LOREM IPSUM IS SIMPLY DUMMY LOREM IPSUM IS SIMPLY DUMMY Earnings Release Tegma 2Q26 3 The Board approve the payment of R$ 1.14 per share in dividends and IoC, with a cut-off date on August 6 and a payment date on August 18. This distribution represents a 62% payout ratio and a 3.8% dividend yield. The Integrated Logistics division has launched a container logistics service for an automotive sector client. This initiative aims to establish the company as a comprehensive service provider for strategic clients. The Board of Directors approved a R$ 30 million investment in vehicle yard logistics operations to meet the high customer demand in the state of Bahia (BYD) and to establish a new production hub in Ceará (PACE). Tegma handled the logistics for the 12,000 BYD vehicles that arrived on two ships at the Port of Itajaí. These operations are intensive in terms of labor, trucks, and yard space, demonstrating the flexibility of Tegma’s operations in meeting client needs. Payment of Dividends and Interest on Equity New Container Management Contract New investments in yards Ships unloading operation involving 12,000 vehicles Quarter’s Highlights
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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and. 4 Brazilian Automotive Market Light and light commercial vehicles (In Thousand) DOMESTIC SALES PRODUCTION EXPORTS Domestic sales grew 24% year-over- year in the second quarter of 2026, driven by better financing conditions and promotions offered by automakers. Exports fell 23% year-over-year in the same period due to a decline in sales to Argentina. Production rose 13%, reflecting the increase in domestic sales. Combined domestic and export sales grew 15% for the quarter. +10% -21% -23% 156 258 204 143 110 0 50 100 150 200 250 300 1S24 1S25 1S26 2Q25 2Q26 +20% 1.078 1.132 1.361 614 763 0 200 400 600 800 1.00 0 1.20 0 1.40 0 1.60 0 1S24 1S25 1S26 2Q25 2Q26 +24% +13% 1.059 1.180 1.300 620 699 0 200 400 600 800 1.00 0 1.20 0 1S24 1S25 1S26 2Q25 2Q26
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5 Operation Highlights Automotive Logistics Division in Thousand, except avg. distance AVERAGE DISTANCE (in kilometers) Market share The volume of vehicles transported increased by 21% in 2Q26 due to the expansion of the domestic market, despite a decline in exports. The 1.3 p.p. gain in market share reflects the positive performance of key clients. The increase in average distance in 2Q26 was driven by a larger share of domestic trips and longer trip distances. VEHICLES TRANSPORTED 1.076 1.056 1.154 1.082 1.166 1S24 1S25 1S26 2Q25 2Q26 307 315 362 171 207 24,9% 22,7% 23,1% 22,5% 23,8% 10,0 %0 100 200 300 400 500 600 700 1S24 1S25 1S26 2Q25 2Q26 +15% +21% +8% +9%
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Results Automotive Logistics in Million NET REVENUE The division's revenue grew by 40% in 2Q26, driven by an increase in the volume of vehicles transported and the distance covered. The expansion of the adjusted EBITDA margin¹ in 2Q26 was due to revenue growth and a decrease in expenses (excluding the non-recurring indemnity) during the period. Adj EBITDA Margin ¹ +32% 6 775 890 1.173 496 693 0 200 400 600 800 1.00 0 1.20 0 1.40 0 1S24 1S25 1S26 2Q25 2Q26 125 147 197¹ 86 132¹ 16,1% 16,5% 16,8%¹ 17,4% 19,0%¹ 0 50 100 150 200 250 300 350 400 1S24 1S25 1S26 2Q25 2Q26 +40% Adj. EBITDA +47% +31% ¹ Adjusted in 2Q26 by an indemnity related to the former subsidiary Direct Express, amounting to R$ 7.2 million, which impacted the Automotive Division's Other Expenses and Income.
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Results Integrated Logistics in Million NET REVENUE EBITDA The division's net revenue grew by 6% in 2Q26, primarily driven by the new container logistics service the division began providing this quarter. The EBITDA margin contracted in 2Q26 due to passing on diesel price increases to customers at a lower rate than the increases charged by suppliers, as well as a change in the method for calculating ICMS credits. EBITDA Margin 7 -2% +6% 87 90 88 45 47 0 20 40 60 80 100 120 1S24 1S25 1S26 2Q25 2Q26 -7% -17% 19 17 16 8 7 21,7% 18,5% 17,7% 18,7% 14,7% 0 5 10 15 20 25 30 35 40 45 50 1S24 1S25 1S26 2Q25 2Q26
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GDL Joint Venture Results (100%) In million R$ NET REVENUE NET INCOME DIVIDENDS¹ & ROE The Joint Venture GDL reported a quarter of declining revenue driven by a shift in the logistics profile of vehicle receipts (fewer containers and racks), faster customs clearance at sea, the use of the DUIMP system, and currency appreciation. Margins contracted due to higher yard costs associated with handling vehicle volume peaks and lower revenue. Net Margin 6 11 - 11 - 64,0% 91,6% 73,8% 88,5% 51,3% -20% 0% 20% 40% 60% 80% 100% 0 2 4 6 8 10 12 14 16 18 20 1S24 1S25 1S26 2Q25 2Q26 Dividends ROE 8 +16% -13% 122 146 122 79 68 1S24 1S25 1S26 2Q25 2Q26 -38% -54% 32 32 15 19 12 26,5% 22,0% 12,0% 23,7% 16,9% -3 0,0% -2 0,0% -1 0,0% 0,0% 10,0 % 20,0 % 30,0 % 0 10 20 30 40 50 60 70 80 1S24 1S25 1S26 2Q25 2Q26 ¹ Total of proceeds: Tegma receives 50%
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Results Consolidated in Million NET REVENUE Adj. EBITDA¹ NET INCOME Net Revenue grew compared to 1Q25 due to an increase in the volume of vehicles transported and the average distance, despite the loss of the bulk transport contract that occurred in 2Q25. The EBITDA margin contracted due to a drop in yard revenue and a mismatch in diesel pass- through to suppliers. Net income fell 11%, a 1.2 p.p. decrease in its net margin resulting from an indemnity, a reduction in operating equity, and an increase in financial results. Adj EBITDA Margin¹ Net Margin 143 164 213¹ 95 139¹ 16,6% 16,7% 16,9%¹ 17,5% 18,7%¹ 1S24 1S25 1S26 2Q25 2Q26 101 111 122 67 83 11,7% 11,3% 9,7% 12,4% 11,2% 1S24 1S25 1S26 2Q25 2Q26 9 +28% +37% 862 981 1.261 541 740 1S24 1S25 1S26 2Q25 2Q26 +30% +46% +24% +10% ¹ Adjusted in 2Q26 by an indemnity related to the former subsidiary Direct Express, amounting to R$ 7.2 million, which impacted the Automotive Division's Other Expenses and Income.
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Free Cash Flow & CAPEX R$ million, except cash-to-cash cycle (days) The cash-to-cash cycle in 2Q26 came in within the normal LTM range. Capex in 2Q26 totaled R$ 15 million, primarily driven by improvements in Yards (R$ 2.1mi) and land acquisitions (R$ 4.1 million). Free cash flow in 2Q26 was negative at R$ 1 million, due to working capital consumption coming from high revenue growth. FREE CASH FLOWCASH-TO-CASH CYCLE CAPEX Operating cash generation - acquisition of fixed assets and intangible assets - leasing payment Days receivable – days payable (days) R$ millionR$ million 28 21 27 11 15 3,3% 2,2% 2,1% 3,7% 2,0% -14,0% -9,0% -4,0% 1,0% 6,0% 11,0 % 0 5 10 15 20 25 30 35 40 45 50 1S24 1S25 1S26 4Q24 4Q25 CAPEX % Net Revenue 38 41 41 43 39 2Q25 3Q25 4Q25 1Q26 2Q26 89 134 70 42 -1 1S24 1S25 1S26 4Q24 4Q25 10
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Capital Structure Million GROSS DEBT PAYMENT AMORTIZATION (Jun/2026) R$ Million Unleveraged capital structure due to cash generation. This aspect remains unchanged even after the high dividend payout in 2025. A Local RATING 1,60% 1,60% 1,34% 1,34% 0,94% -0,2% 0,3% 0,8% 1,3% 1,8% 2,3% 2,8% 3,3% 3,8% 2Q25 3Q25 4Q25 1Q26 2Q26 Outlook: Stable Date: March 30th, 2026 197 27 47 61 Cash Jun- 26 2026 2027 2028-39 NET DEBT COMPOSITION (R$ million) Mar/26 Jun/26 (=) Gross debt 125 141 (-) Cash 184 197 (=) Net debt (cash) (59) (56) EBITDA LTM 367 411 Net debt/ EBITDA LTM N/A N/A 11 GROSS DEBT COST HISTORICAL % + CDI
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Return, EVA and Dividends 12 ROIC, ROE, and EVA for the second quarter of 2026 recovered after three quarters of decline, driven by improved results in vehicle logistics. Dividend distribution remains above the indicative policy, with a total payout of R$ 75 million. ROIC and ROE EVA (R$ million) Payout Dividend Yield Minimum distribution policy of 50% of adjusted net income. DIVIDENDS HISTORICAL EVA considers the WACC range used in sell-side analysts' projections. The indicator's calculation memory can be found in the Historical financials file, under the “indicators” tab 39,2% 37,3% 31,3% 29,9% 31,8% 29,7% 28,6% 25,5% 25,3% 27,0% 2Q25 3Q25 4Q25 1Q26 2Q26 ROIC ROE (50) - 50 100 150 200 4Q20 3Q21 2Q22 1Q23 4Q23 3Q24 2Q25 1Q26 EVA Wacc 17% EVA Wacc 12% 12 60% 80% 80% 62% 2,3% 5,1% 3,6% 3,8% -2 0,0% -1 0,0% 0,0% 10,0 % 20,0 % 30,0 % 40,0 % 50,0 % 1S23 1S24 1S25 1S26
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LOREM IPSUM IS SIMPLY DUMMY LOREM IPSUM IS SIMPLY DUMMY LOREM IPSUM IS SIMPLY DUMMY LOREM IPSUM IS SIMPLY DUMMY LOREM IPSUM IS SIMPLY DUMMY TGMA3 – Performance and multiples 13 Tegma’s shares underperformed the stock market in 2026, due to the uncertainties generated by the war in Iran and its consequences on global supply chains, Tegma continues to trade at multiples slightly below its historical average. TGMA3’s Multiples TGMA3 Base 0 | BASE: Dec 31, 2025 EV/EBITDA* P/L* * Multiples based on average sell-side analyst estimates. * Year X multiple uses estimates from year X itself through July. From August onwards, estimates for year X+1 are used 3 5 8 106 10 14 18 IBOVTGMA3 SMLL 13 DEZ-25 JAN-26 JAN-26 FEV-26 FEV-26 MAR-26 MAR-26 MAR-26 ABR-26 ABR-26 -30 -20 -10 0 10 20 30 40 abr-20 out-20 abr-21 out-21 abr-22 out-22 abr-23 out-23 abr-24 out-24 abr-25 out-25 abr-26
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Informação confidencial e privativa de Tegma. Proibida a divulgação não autorizada. 14 Nivaldo Tuba– CEO Ramón Perez – CFO e IRO Ian Nunes – IRM Q&A SECTION To contact the IR team, scan the QR Code above ri.tegma.com.br/en Follow Tegma in medias: /tegmagestaologistica