Slides
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2Q26 Results August 2026
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▪ Board of Directors : management continuity with complementary skills ▪ Middle East Conflict : domestic market pressure with supply constraints and price volatility ▪ Value Proposition: +230 stations (+385 for the half) and +100 new B2B contracts (+160 for the half) ▪ Market Share: growth across all segments YoY – Retail Network (+0.7 p.p.) and B2B (+0.8 p.p.) ▪ Recurrent Adjusted EBITDA Margin : R$ 456/m³ ▪ Cash Generation: O CF of R$ 3.8 Billion, reducing Net Debt by R$ 2.6 Billion and Leverage to 1.3x ▪ Shareholder compensation : R$ 558 million in interest on equity in the quarter, R$ 952 million in the first half. ▪ Additional R$499 million announced in August, consolidating full - year distributions at R$1.5 billion, a 4% yield ▪ Strengthening for the Long Term: larger branded network and healthier balance Strategy aligned with long - term growth 2
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Volume (thousand m 3 ) 9,053 (+4% YoY) Market Share 24.2% (+0.6 p.p. YoY) Adjusted EBITDA R$ 4.5 bn (+206% YoY) Recurring Adjusted EBITDA Mg.¹ R$ 456 /m³ (+304% YoY) Leverage 1.3x Net Debt down R$ 2.6 bn New Stations +230 Operating Cash Flow R$ 3.8 bn (+367% YoY) Adjusted EBITDA Mg.¹ R$ 476 /m³ (+233% YoY) Consolidating results and paving the way for long - term structural advances ( 1) Adjusted EBITDA margin only includes Vibra Distribution figures 3
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Adjusted Expenses 1 (R$/m 3 ) Adjusted EBITDA Margin 2 (R$/m 3 ) Volume (million m 3 ) 1. Adjusted Operating Expenses without hedge effect, untimely tax recoveries, CBIOs and property sales. | 2. Does not include the extraordinary tax recovery (LC192 - 194/22) ... Ebitda Margin growing steadily since 2019 4 84 69 58 63 80 77 91 2019 2020 2021 2022 2023 2024 1 2025 92 78 104 129 133 169 175 197 2019 2020 2021 2022 2023 2024 2025 2019 2020 2021 2022 2023 2024 2025 40.2 36.8 38.5 38.6 36.9 35.8 35.9 2Q25 1Q26 2Q26 8.7 8.7 9.1 +4% +4% 143 350 476 2Q25 1Q26 2Q26 +233% +36% 89 102 88 - 3 2Q25 3 1Q26 14 2Q26 86 105 102 - 1% - 13% Hedge and MTM Trading
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Retail B2B Lubricants Average Monthly Volume (AMV) +12% YoY Diesel Volume +7% YoY New Supply Contracts +100 Market Share +0.8 p.p. Gross Profit +37% YoY Record Ebitda +90% YoY Start of Operations in Argentina Consolidating leadership New Record for station additions in a single quarter +230 Total Stations 7,556 5 Comerc Consumer Units (DG) 215k Free Market Clients +568 YoY Ebitda @stake R$ 228 mn
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Priority allocation to Core Business Return on Invested Capital – ROIC Vibra Distribution 644 579 298 618 437 727 2022 742 2023 1,134 2024 1,015 2025 1,371 1,321 1,432 2,070 118 103 113 105 50 59 218 2Q25 175 1Q26 176 2Q26 441 328 348 Renewables Customer bonuses Distribution Capex (R$ millions) 14.1% 2Q25 18.6% 1Q26 27.1% 2Q26 3.4 24.4 4.7 25.2 6.7 24.6 ROIC (%) Nopat¹ LTM (R$ Bi) Capital² (R$ Bi) 1. Net Operating Profit After Taxes | 2. Capital does n ot consider LC 192 - 194/22 6
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Capital Structure: continuous evolution of the financial structure... 0.81% 2Q25 0.66% 1Q26 0.22% 2Q26 4.5 4.3 5.1 Debt cost (CDI+) Average Terms (Years) Indebtedness and Leverage 1 (R$ billions) Cost and Average Debt Tenor 71. Does not consider the effects of Extraordinary Tax Recoveries LC 192-194/22. 2Q25 3Q25 4Q25 1Q26 2Q26 21.0 18.8 19.2 18.6 16.1 2.9x 2.7x 2.4x 2.0x 1.3x Leverage Net Debt
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Total debt through 2029: R$ 4,868 Mn Reduction of R$ 4,589 Mn (-49%) Total debt through 2029:R$ 9,457 Mn Net Debt: R$ 19.2 Bn Leverage: 2.4x Average maturity: 4.6 years Debt cost (CDI+): 0.66% Cost of Debt (%/CDI): 105.1% ...through liability management and debt profile optimization Debt Profile 4Q25 (R$ million) Debt Profile 2Q26 (R$ million) 4.146 365 2.734 2.938 3.420 4.442 2.633 1.328 645 1.317 Cash 2026 2027 2028 2029 2030 2031 2032 2033 2034+ Net Debt: R$ 16.1 Bn (-R$3.1 Bn) Leverage: 1.3x (-1.1x) Average maturity: 5.1 years (+0.5 year) Debt cost (CDI+): 0.22% (-44 bps) Cost of Debt (%/CDI): 101.8% (-3.3 p.p.) An active Liability Management agenda repositions the debt profile and optimizes long - term financial structure 8 6.293 258 443 1.399 2.768 5.499 2.766 1.781 2.144 2.885 Cash 2026 2027 2028 2029 2030 2031 2032 2033 2034+
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823 952 2022 2023 2024 2025 1S26 1,537 4,766 1,604 6,367 1,636 2,663 3,974 155 163 123 115 Jul.25 Aug.25 Sep.25 Oct.25 Nov.25 Dec.25 Jan.26 Feb.26 Mar.26 Apr.26 May.26 Jun.26 VBBR3 VBBR3+Dividends IBOV CDI Shareholder Returns 54% 34 % 26 % 75 % 24% Proceeds (R$ millions) Total Shareholder Returns (TSR) Base 100 LTM¹ 1.200 800 1. Covers the period from 07/01/2025 to 06/30/2026 9
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Closing Remarks ▪ Vibra closes the quarter structurally stronger for the long term, with a larger branded network and a healthier balance sheet ▪ Cash generation in upcoming cycles should continue to drive deleveraging , strengthening capital structure and allowing greater flexibility in capital allocation ▪ Combating irregularities and regulatory improvement remain among Vibra's priorities, continuing sector advances with a special focus on state - level ethanol single - phase regulation ▪ Vibra remains committed to fully supplying its customers across the country , operating with responsibility, operational safety, and commercial discipline ▪ Strengthening the value proposition will continue to drive expansion of the retail and B 2 B customer network , contributing to better results and long - term value creation 10
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ERNESTO POUSADA CEO Q&A MAURÍCIO TEIXEIRA CFO
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THANK YOU ri@vibraenergia.com.br ri.vibraenergia.com.br