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Valid Earnings Presentation 2Q 26 VLID3 | B3 Listed | August 06 , 2026
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Legal Disclaimer This presentation contains forward-looking statements that reflect current beliefs and expectations regarding future financial results and other aspects of our operations. Earnings Presentation 2 Such beliefs and expectations are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially from those projected due to a variety of factors. Analysts and investors are cautioned not to place undue reliance on these beliefs and expectations, which refer only to the date of this presentation. Valid assumes no obligation to publicly disclose the results of any revisions to these beliefs and expectations. Financial results are presented considering the impacts from the adoption of IFRS 16.
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Schedule 3 1. Opening 2. Consolidated Results 3. Conclusion and Outlook for 2026 4. Q&A Earnings Presentation
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4 Introduction Earnings Presentation
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Opening 5 “In 2Q26 both engines worked well: Engine 1 funded investments, and Engine 2 accelerated with new products and clients. Quarters fluctuate, capabilities remain. Earnings Presentation
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‘Identity First Company’: Our business framework Apresentação de Resultados 6 Secure Connectivity ID & Digital Government Banks and Payments Leader in Brazil Top-4 in the global market Leader in Brazil and Argentina Digital Mobile e-SIM, S&S, OEM and IoT Integrated Digital Security Platform Digital Government Evolution of government-citizen journeys Market Foundation – M1 Digital & Growth – M2
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Highlights 2Q26 7 01 M&A — Digital Security and Digital Payments Valid completed the acquisitions of Diazero, accelerating its newly established cybersecurity business, and HST, strengthening the platform's digital payments and fraud prevention capabilities 02 CIN issuances sustain growth in ID And also the start of issuance (>300k units) of Brazil's National Teaching Card (CNDB) 03 Value Generation for Shareholders +2.51% increase in ownership per share following the cancellation of 2M shares, combined with R$ 44M distributed in dividends/interest on equity (JCP) and an additional R$ 14M announced Earnings Presentation
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8 Consolidated Results Earnings Presentation
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9 Net Revenue grows across all segments QoQ (R$ M) Net Revenue 471 501 278 259 242 192 991 953 6M25 6M26 3% Cumulative Net Revenue (R$ M) -4% Earnings Presentation 226 249 253 153 108 150 111 90 102 490 447 506 2Q25 1Q26 2Q26 ID Mobile Pay +14% Adicionar var T/T 13% +2% +39%
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10 (R$ M) Digital Net Revenue New Business Revenue (R$ M) 114 112 123 Earnings Presentation 376 335 382 81 68 76 33 44 47 490 447 506 23% 25% 24% 2Q25 1Q26 2Q26 Physical New Businesses Other Digital % Digital of Total 0 1 1 1 12 29 25 24 41 42 54 48 33 37 – – 12 8 10 15 15 14 17 20 10 7 8 8 4 8 7 11 10 10 25 27 19 20 20 33 27 31 4 9 20 19 32 54 64 66 77 81 84 88 68 76 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Digital Gov. Integrated Digital Security Platform Digital Mobile New Business R$76M +12% QoQ Account for 62% of digital revenue in 2Q26 and remain the main driver of growth Digital portfolio growth
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11 Onboarding ID Compliance Identity Governance & CyberSec Transactions & Antifraud Open Data Open ID, DiD Quarterly Highlights Product developments Launch of new products on the Platform, increasing support for the sales team Organic Cyber Portfolio Launch of Valid Security and operation of the in-house team, along with the integration of FlexDoc Biometrics Hub Proprietary biometrics hub offering high quality and high coverage for identity verification (+99%) Identity Verification and Validation at the Start of the Digital Journey KYC and KYB Digital Onboarding Liveness and biometrics Background screening Management of identity and access, and digital environment protection IAM, PAM and IGA MFA and autentication Cyber security Certificates and Encryption Transaction security, including authentication and fraud prevention Fraud Prevention and AML Payment Methods and Tokens Transaction Authentication Tokens and tokenization Decentralized identity and verified credentials Open Data ID Wallets Verified credentials DPI Earnings Presentation Deep Dive: Integrated Digital Security Platform
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12 Onboarding ID Compliance Identity Governance & CyberSec Transactions & Antifraud Open Data Open ID, DiD Strengthen - Identity Governance & CyberSec Adds more cybersecurity capabilities, covering monitoring, protection, and incident response SOC & MSS 24x7 TPCRM (in-house SaaS) Vulnerability Management Incident Response Strengthen - Transactions & Antifraud Enhances payment methods and tokens, with transaction authentication on the issuer's side P2P and Cross-Border Transfers Tokenization (wallets, NFC and BNPL) Purchase Authentication (Issuer) Digital issuance and management of cards Completed acquisitions expand the Platform's coverage: in cybersecurity, identity governance, and transaction security Earnings Presentation M&As Strengthen the Integrated Digital Security Platform
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139 163 53 44 4 19 196 227 6M25 6M26 13 EBITDA margin supported by business efficiency gains and improved cost management EBITDA Margin (%) EBITDA (R$ M) CUMULATIVE EBITDA (R$ M) EBITDA Margin (%) 19% 26% 22% 20% 24% 22% 16% Earnings Presentation 63 84 79 31 19 25 (2) 10 9 92 114 112 2Q25 1Q26 2Q26 ID Mobile Pay -2%
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112 (17) (29) (21) (7) 38 EBITDA 2Q26 Financial Results D&A Taxes Others Net Income 2Q26 14 Net income of R$ 38M in 2Q26 and R$ 93M for 6M26 EBITDA to Net Income 2Q26 (R$ M) - R$ 12M Cash Effect - R$ 5M Non-Cash Effect EBITDA to Net Income 6M26 (R$ M) Net Margin: 7.4% -31% YoY EPS: R$0.48 Earnings Presentation +15% YoY vs. adjusted 2Q25 (excluding TBU) 227 (12) (55) (54) (13) 93 EBITDA 6M26 Financial Results D&A Taxes Others Net Income 6M26 Net Margin: 10% -27% YoY EPS: R$1.19 - R$ 22M Cash Effect + R$ 10M Non-Cash Effect
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852 72 (61) (6) (55) 802 (76) (86) 7 647 Cash BoP Operational Result CAPEX Payment per Acquisition Financial Result Cash After Operations Funding/Loans Payment Earnings Distribution/ Treasury shares Exchange Rate Effect Cash EoP 751 32 (31) (2) (43) 707 (15) (48) 3 647 Cash BoP Operational Result CAPEX Payment per Acquisition Financial Result Cash After Operations Funding/Loans Payment Earnings Distribution/ Treasury shares Exchange Rate Effect Cash EoP 15 Disbursements directed toward shareholder value, debt reduction, and expansion of Engine 2 Cash Flow 2Q26(R$ M) Cash Flow 6M26(R$ M) Earnings Presentation 74% of LTM conversion 28% of conversion in 2Q26 Interest on debentures: R$ 34M -R$ 14M in Dividends -R$ 30M in JCP -R$ 5M in share buybacks 74% of LTM conversion 32% of conversion in 6M26 Interest on debentures: R$ 34M -R$ 14M in Dividends -R$ 62M in JCP -R$ 11M in share buybacks
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647 102 132 196 102 154 41 56 58 21 24 Cash 2H26 2027 2028 2029 2030+ Principal Interest Apresentação de Resultados 16 Robust liquidity and a balanced amortization schedule Leverage (Net Debt / 12-Month EBITDA) Amortization Schedule (R$M) Composition of Gross Debt 15% 19% 29% 15% 22% 65% 24% 11% Debenture Bilateral BR Bilateral Int. 25% 75% Short-Term Long-Term591 327 73 (190) (93) (37) 38 1,9x 0,7x 0,1x -0,4x -0,2x -0,1x 0,1x 4Q21 4Q22 4Q23 4Q24 4Q25 1Q26 2Q26 Net Debt Net Debt/EBITDA
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17 Conclusion and Outlook for 2026 Earnings Presentation
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18 2026 Guidelines Capital Allocation Business Strategy 2026 and Road 2030 01 02 03 Strategic M&As Expansion CAPEX Shareholder Value Generation M&As for the expansion and development of Engine 2, with Diazero for cybersecurity and HST in the transactions and antifraud front ~80% of CAPEX in 2Q26 was allocated to Expansion projects (~R$25M) Value per share +2.51% with the cancellation of 2MM shares, combined with R$44MM paid in dividends/JCP and another R$14MM announced 01 02 03 Consolidate Valid as Brazil's leading Secure Identity company Accelerate sales to the Private sector of the Digital Platform Efficiency Gains Launch of new products and features, and the closing of two M&A deals Expanding the commercial team for the Cyber Platform and Services Adjustments made in Vsoft, Flexdoc, and Argentina are beginning to show up in the numbers, along with the review and improvement of working capital. Earnings Presentation
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Closure 19 “We remain convinced of the path and committed to raising the bar on results. It's this combination that sustains our Expedition 2030." Earnings Presentation Trocar para texto do pt
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20 Q&A Earnings Presentation