Earnings release
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Quarterly Earnings Release 3Q25 Mexico City, October 27, 2025 Conference Call Tuesday, October 28, 2025 10:00 a.m. Mexico City 12:00 p.m. New York Dial-in Outside the United States: +1 (201) 689 8349 Within the United States: +1 (877) 407 8293 Call replay (Available for 2 weeks) International: +1 (201) 612 7415 United States: +1 (877) 660 6853 ID: 13756364 Contacts Antonio Tejedo a.tejedo@traxion.global Elba Salcedo e.salcedo@traxion.global Santiago Gómez s.gomez@traxion.global ir@traxion.global +52 55 5046 7900 ext. 3208
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2 TRAXION REPORTS QUARTERLY REVENUE OF Ps. 8,623 MILLION, A 14.5% INCREASE; EBITDA REACHED Ps. 1,412 MILLION, AND NET INCOME ROSE 17.9% COMPARED TO THE SAME QUARTER OF 2024 • Consolidated revenue reached Ps. 8,623 million, a 14.5% increase compared to 3Q24 • Consolidated EBITDA totaled Ps. 1,412 million, a 1.3% increase compared to the same period of last year • Revenues from the Logistics and Technology segment represented 45.0% of consolidated revenues, bringing consolidated EBITDA margin to 16.4% • Net operating cash flow reached Ps. 1,443 million • CapEx1 reached Ps. 651 million in the quarter • Net income for 3Q25 reached Ps. 112 million, a 17.9% increase compared to 3Q24 • Net debt to EBITDA ratio stood at 2.35x for the period • Average fleet in operation during 3Q25 was 11,069 units • On July 1st, TRAXION announced the successful closing of the acquisition of Solistica Disclaimer – The information presented in this press release may contain forward-looking statements regarding Grupo TRAXION, S.A.B. de C.V. and its subsidiaries (collectively “TRAXION” or the “Company”), which are not historical facts and represent the current view of TRAXION's management, based on the information available to the Company. Such statements are subject to certain risks and factors based on assumptions. T he words “anticipated,” “believe,” “estimate,” “expect,” “plan,” and other similar expressions, whether related to the Company or not, are intended to provide estimates or forecasts. Various factors may cause the results implied in the statements to differ materially from any future result or event of, or related to, TRAXION that may be expressly or implicitly included in such statements. Additionally, if the assumptions used in the statements turn out to be incorrect, the actual results may differ materially from those described herein as anticipated, believed, estimated, or expected. TRAXION assumes no obligation to update the statements or information presented in this release. The figures presented in this report have been prepared in accordance with International Financial Reporting Standards (IFRS) and are expressed in nominal millions of Mexican Pesos (MXN), unless otherwise specified. 1 CapEx excludes the investment related to the acquisition of Sol istica.
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3 MESSAGE FROM THE EXECUTIVE PRESIDENT Dear investors, I would like to begin by highlighting the acquisition of Sol istica at the beginning of the quarter. This is the most significant integration in Mexico’s logistics sector, a deal that reshapes TRAXION’s asset-light businesses and strengthens its position as a leading player in the industry. The integration of Sol istica into our platform is now fully complete, and our 100 -day post -acquisition plan has been successfully implemented. This ensures both operational and financial continuity, as well as the retention of key talent and clients We designed an integrated structure to maximize collaboration, efficiency, and profitability. Likewise, the synergy plan is progressing favorably, and we expect these synergies to become more evident over the coming quarters. From a financial standpoint, this quarter TRAXION reported a 14.5% increase in revenues compared to the same period of the previous year, mainly due to a 51.1% rise in the Logistics and Technology segment, driven primarily by the integration of Solistica. This segment represented more than 45% of consolidated revenues, in line with our plan to expand asset-light businesses. However, revenue from the Mobility of Cargo segment fell 14.7% versus 3Q24, mainly due to a temporary slowdown in demand, especially in import and export circuits, from clients that operate in sectors with increased volatility as a result of the tariff uncertainty, with the automotive and iron and steel industries seeing the most impact. During the third quarter, the uncertainty generated by tariff tensions across several countries , particularly in North America , persisted. However, the preliminary discussions for the USMCA review began a few weeks ago, and the tone among governments appears positive. Therefore, we believe the challenges experienced over the past two quarters are temporary, and we expect a normalization phase. Even so, there are bright spots. Most notably, our both leverage ratio and interest expense stayed flat even after the Solistica acquisition, a metric that emphasizes even more the deal’s attractiveness. Similarly, margins across the three business segments remained stable. Net operating cash flow increased by Ps. 230 million during the first nine months of the year, while net leverage levels remained unchanged despite the acquisition of Solistica. Finally, I would like to thank all our stakeholders for their trust and continued support and take this opportunity to reaffirm our commitment to continue growing, expanding our footprint, and generating value. Sincerely, Aby Lijtszain Cofounder and Executive President
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4 FINANCIAL AND OPERATING INDICATORS Financial Indicators 3Q25 3Q24 ∆% 9M25 9M24 ∆% Consolidated Revenue 8,623 7,530 14.5% 22,763 21,559 5.6% Logistics and technology 3,882 2,569 51.1% 8,504 7,696 10.5% Mobility of cargo 1,943 2,277 (14.7)% 6,050 6,078 (0.5)% Mobility of personnel 2,798 2,684 4.2% 8,209 7,785 5.4% Total costs 6,956 5,874 18.4% 17,979 16,835 6.8% General expenses2 1,033 1,048 (1.4)% 2,914 2,958 (1.5)% Consolidated operating income 633 608 4.1% 1,870 1,766 5.9% Depreciation and amortization 779 648 20.2% 2,090 1,870 11.8% Restructuring expenses - 139 NA - 164 NA Consolidated Adjusted EBITDA 1,412 1,394 1.3% 3,959 3,801 4.2% Adjusted EBITDA margin3 16.4% 18.5% (210) bps 17.4% 17.6% (20) bps Consolidated net income 112 95 17.9% 332 456 (27.2)% Earnings per share4 0.20 0.17 17.6% 0.60 0.80 (25.0)% Total CapEx5 651 1,021 (36.2)% 1,958 2,842 (31.1)% Net operating cash flow 1,443 1,474 (2.1)% 3,329 3,099 7.4% Net Debt / EBITDA 2.35x 2.15x Operating Indicators 3Q25 3Q24 ∆% 9M25 9M24 ∆% Kilometers driven (million) 174.6 190.4 (8.3)% 532.1 499.4 6.5% Mobility of cargo 54.8 62.0 (11.5)% 170.8 124.4 37.3% Mobility of personnel 119.7 128.4 (6.7)% 361.2 375.0 (3.7)% Average Fleet (power units) 11,069 11,342 (2.4)% 11,136 11,107 0.3% Mobility of cargo 2,240 2,350 (4.7)% 2,261 2,322 (2.6)% Mobility of personnel 8,509 8,672 (1.9)% 8,555 8,360 2.3% Last mile 320 320 - 320 425 (24.7)% Avg. revenue per kilometer (Ps./km.) Mobility of cargo 35.42 33.87 4.6% 35.14 31.55 11.4% Mobility of personnel 23.37 20.90 11.8% 22.72 20.76 9.5% Avg. cost per kilometer6 (Ps./km.) Mobility of cargo 26.54 27.37 (3.0)% 26.62 23.48 13.4% Mobility of personnel 17.14 15.01 14.2% 16.45 14.81 11.1% 3PL warehouse area (sqm) 1,041,922 747,602 39.4% 806,741 749,675 7.6% Revenue per sqm 338.73 263.30 28.6% 318.15 256.20 24.2% Cost per sqm 224.91 186.10 20.9% 219.18 183.60 19.4% 2 Includes general expenses and allowance for doubtful accounts in all three business segments . 3 Adjusted EBITDA corresponds to the efficiencies plan executed in 2024 . 4 Weighted average number of shares outstanding for the calculation of earnings per share (excluding repurchases ): 3Q25: 558,405,690 shares; 3Q24: 567,503,631 shares; 9M25: 557,644,067 shares; and 9M24: 567,503,631 shares. 5 CapEx excludes the investment related to the acquisition of Sol istica. 6 Costs incurred per driven kilometer: wages, maintenance, net fuel, tolls, and other costs, including depreciation and amortiz ation. Storage costs are not included.
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5 QUARTERLY MD&A • Consolidated revenues: reached Ps. 8,623 million, an increase of Ps. 1,093 million compared to 3Q24, representing 14.5% growth, primarily due to a 51.1% expansion in the revenues of the Logistics & Technology division, driven by the contribution of Sol istica’s revenues, a company acquired by TRAXION at the beginning of 3Q25. • Costs: most costs remained in line with revenue levels, except for facilities, services, and supplies costs, which increased due to t he integration of Sol istica. Given their asset -light nature, these costs are included in this category and were not present in 3Q24. Additionally, fleet maintenance costs rose due to the portion related to third-party fleet operated through Solistica, which includes such cost, and that did not exist in past quarters. • Operating income: totaled Ps. 633 million, a 4.1% increase compared to 3Q24. • EBITDA: reached Ps. 1,412 million, a 1.3% increase compared to the same period of 2024. The margin narrowed by 210 basis points to 16.4%, mainly because the Logistics and Technology segment now accounts for over 45% of total revenues and reported an EBITDA margin of 9.1%. This segment’s growing weight in total sales thus compresses the consolidated margin. • Comprehensive financing result: Reports an increase of Ps. 47 million, mainly due to a foreign exchange gain in 3Q24. It is important to note that interest expense remained practically unchanged. Net debt / EBITDA: Was 2.35x, mainly due to the Solistica acquisition. It is important to mention that the leverage level is very similar to that reported pre-transaction. This is mainly the result of the combined integration and synergies plan of both TRAXION’s and Solistica’s businesses, and of the execution discipline which translated into an enhanced profitability of the transaction. The Logistics and Technology segment recorded an increase of Ps. 1,313 million, mainly driven by Ps. 1,904 million in revenues from Solistica, partially offset by a reduction in operations excluding Sol istica. This was explained by: (i) a downturn in some sectors, as a result of the tariff uncertainty, particularly in the importation of merchandise (e-commerce) from the United States, which decreased the company’s operating levels; (ii) a revenue reduction in TRAXPORTA as the company prepared the platform for the Solistica integration, which management expect to finalize towards the end of this year, and that caused a temporary disruption in commercial activity; and (iii) the adjustment of the B2C operations which were maintained until 2Q24, and whose revenue is no longer present this period. Segment costs increased in proportion to revenues, in line with the integration of Sol istica, while expenses decreased 8.9% due to the effects of the efficiencies plan implemented in 2Q24, which included the adjustment of last -mile retail (B2C) operations. All of the above resulted in a 63.1% increase in EBITDA and a 9.1% margin, representin g a 67-basis-point expansion compared to the same period last year. Logistics & Technology 3Q25 3Q24 ∆% 9M25 9M24 ∆% Revenue 3,882 2,569 51.1% 8,504 7,696 10.5% Costs 3,448 2,248 53.4% 7,487 6,899 8.5% General expenses 349 383 (8.9)% 785 872 (10.0)% Operating income 85 (62) 236.6% 232 (75) 409.3% EBITDA 352 216 63.1% 793 582 36.3% EBITDA margin 9.1% 8.4% 67 bps 9.3% 7.6% 176 bps Last-mile fleet (units) 320 320 - 320 425 (24.7)% 3PL warehouse area (sqm) 1,041,922 747,602 39.4% 806,741 749,675 7.6% Average revenue per sqm (Ps.) 338.73 263.30 28.6% 318.15 256.20 24.2% Average cost per sqm (Ps.) 224.91 186.10 20.9% 219.18 183.60 19.4% The Mobility of Cargo segment posted a reduction in operating volumes, particularly in cross-border circuits mainly due to a decline in exportation activity, most notably in the automotive and heavy-duty vehicle industries, and in the iron and steel sector, as a result of the tariff uncertainty that prevails , which caused a reduction of 11.5% in kilometer volume . Additionally, the exchange rate ha d an adverse effect on topline since a portion of revenue is denominated in U.S. Dollars. All the above resulted in a disruption in both demand and p rices, which resulted in a decrease of 14.7% in the revenue of the division, and of 17.8% in EBITDA, compared to 3Q24. Margin showed a slight compression of 76 basis points, compared to 3Q24, but an expansion of 430 basis points compared to the second quarter of this year.
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6 Mobility of Cargo 3Q25 3Q24 ∆% 9M25 9M24 ∆% Revenue 1,943 2,277 (14.7)% 6,050 6,078 (0.5)% Costs 1,456 1,698 (14.3)% 4,550 4,382 3.8% General expenses 295 299 (1.3)% 990 984 0.6% Operating income 192 280 (31.4)% 510 712 (28.4)% EBITDA 401 488 (17.8)% 1,147 1,278 (10.3)% EBITDA margin 20.6% 21.4% (76) bps 19.0% 21.0% (207) bps Mileage (million) 54.8 62.0 (11.5)% 170.8 124.4 37.3% Average fleet (power units) 2,240 2,350 (4.7)% 2,261 2,322 (2.6)% Average revenue per km (Ps.) 35.42 33.87 4.6% 35.14 31.55 11.4% Average cost per km. (Ps.) 26.54 27.37 (3.0)% 26.62 23.48 13.4% The Mobility of Personnel segment recorded an increase of Ps. 11 4 million to reach Ps. 2,7 98 million, representing a 4. 2% growth compared to the same period of 2024. This was mainly driven by the progress of the efficiencies and customer profitability plan, which has a positive effect on rates and revenue per kilometer, with a 6.7% reduction in kilometer volume . This, along with some efficiencies observed in the segment’s expenses, led to operating income and EBITDA grow ing by 5.9%, compared to 3Q24, while EBITDA margin expanded by 40 basis points. Mobility of Personnel 3Q25 3Q24 ∆% 9M25 9M24 ∆% Revenue 2,798 2,684 4.2% 8,209 7,785 5.4% Costs 2,052 1,927 6.5% 5,943 5,554 7.0% General expenses 317 352 (9.9)% 994 1,040 (4.4)% Operating income 429 405 5.9% 1,272 1,191 6.8% EBITDA 719 679 5.9% 2,115 1,945 8.7% EBITDA Margin 25.7% 25.3% 40 bps 25.8% 25.0% 78 bps Mileage (million) 119.7 128.4 (6.7)% 361.2 375.0 (3.7)% Average fleet (power units) 8,509 8,672 (1.9)% 8,555 8,360 2.3% Average revenue per km (Ps.) 23.37 20.90 11.8% 22.72 20.76 9.5% Average cost per km. (Ps.) 17.14 15.01 14.2% 16.45 14.81 11.1% Total Costs 3Q25 3Q24 ∆% 9M25 9M24 ∆% Fuel 832 884 (5.8)% 2,459 2,531 (2.9)% % revenues 9.7% 11.7% 10.8% 11.7% Labor 1,665 1,408 18.2% 4,470 4,191 6.7% % revenues 19.3% 18.7% 19.6% 19.4% Tolls 258 242 6.7% 741 738 0.5% % revenues 3.0% 3.2% 3.3% 3.4% Fleet maintenance 472 351 34.4% 1,225 1,078 13.7% % revenues 5.5% 4.7% 5.4% 5.0% Facilities, services, and utilities 3,157 2,418 30.6% 7,370 6,671 10.5% % revenues 36.6% 32.1% 32.4% 30.9% Depreciation and amortization 571 571 - 1,713 1,626 5.4% % revenues 6.6% 7.6% 7.5% 7.5% Total Costs 6,956 5,874 18.4% 17,979 16,835 6.8% % revenues 80.7% 78.0% 79.0% 78.1%
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7 Comprehensive Financial Result 3Q25 3Q24 9M25 9M24 Interest expense (460) (457) (1,327) (1,228) Foreign Exchange income (loss) (1) 33 (53) 70 Effect on financial instruments 3 11 14 34 Interest income 11 13 39 48 Other (9) (9) (52) (27) Comprehensive Financial Result (456) (409) (1,379) (1,103) Cash Flows from Operating Activities 3Q25 3Q24 ∆$ 9M25 9M24 ∆$ Consolidated net income 112 95 17 332 456 (124) Income taxes 65 105 (40) 160 207 (47) Depreciation and amortization 779 648 131 2,090 1,870 220 Accounts receivable 58 16 42 95 40 55 Share-based payments 8 - 8 24 - 24 Interest expense 464 464 - 1,370 1,251 119 Other financial costs (9) (23) 14 (46) (78) 32 Loss (gain) from equipment sales 36 10 26 47 52 (5) Foreign exchange loss (gain) not executed 2 53 (51) 1 27 (26) Cash Flow before working capital 1,515 1,368 147 4,073 3,825 248 Working capital (72) 106 (178) (744) (726) (18) Net Cash Flows from Operating Activities 1,443 1,474 (31) 3,329 3,099 230 CapEx 3Q25 9M25 Segment Expansion Renovation Total % Expansion Renovation Total % Mobility of Cargo - 326 326 50.0% - 864 864 44.1% 47 - 47 7.2% 113 - 113 5.8% Mobility of Personnel 278 - 278 42.8% 981 - 981 50.1% Total 325 326 651 1,094 864 1,958 DEBT PROFILE Debt Breakdown 3Q25 3Q24 ∆$ ∆% Short-term debt 1,417 1,485 (68) (4.6)% Short-term capital leases 27 63 (36) (57.1)% Long-term debt 13,275 10,623 2,652 25.0% Long-term capital leases 1 28 (27) (96.4)% Total debt 14,720 12,199 2,521 20.7% Cash 1,390 1,362 28 2.1% Net Debt 13,330 10,837 2,493 23.0%
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8 Leverage Ratios 3Q25 Total Debt / LTM EBITDA7 2.59x Net Debt8 / LTM EBITDA 2.35x Total Debt / Equity 1.00x ESG – SUSTAINABILITY At TRAXION, we deploy a comprehensive and robust ESG strategy based on four guiding principles: Governance, People, Planet, and Profitability; a strategy that is recognized year after year by the most prestigious ESG rating platforms. We invite you to learn more details throughout this section. We aim to mitigate our environmental impact and our contribution to climate change by offering resource -efficient transportation and logistics solutions. To achieve this: • We constantly renew our fleet and carry out exhaustive maintenance programs to always keep our units in optimal condition. • We promote the use of state-of-the-art technology in processes, fleets, and warehouses (both our own and the ones we outsource), including the latest telemetry systems, which allow us to monitor fleet fuel consumption and driving habits of operators, whi ch have significant direct impacts on our fuel performance. • We consistently train our operators in fuel-efficient driving, and their compensation is partially linked to adequate fuel performance. • We work with our suppliers to conduct trials on more eco-friendly engines, technologies, and fuels. The implementation of these strategies has resulted in continuous improvements in the fleet ́s fuel efficiency, which directly leads to lower carbon dioxide emissions, the main greenhouse gas that contributes to global warming and climate change. In addition, our fleet has the latest model engines, which reduces our overall emissions. In this regard, the most relevant metrics are those related to fuel consumption and utilization and their Greenhouse Gas (GHG) emissions: 7 Total debt and Adjusted EBITDA for the last 12 months, based on the definition of debt as determined by the syndicated credit. 8 Includes the effect of derivative financial instruments. 10% 30% 21% 18% 21% Maturity Profile 73% 27% Rates 1 year 2 years 3 years 4 years >5 years
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9 Indicator9 Unit 2021 2022 2023 2024 1Q25 2Q25 3Q25 Fuel performance10 km/l 3.49 3.48 3.49 3.48 3.49 3.44 3.43 Fuel consumption intensity l/km 0.29 0.29 0.29 0.29 0.29 0.29 0.29 Scope emissions intensity11 tCO2eq/1,000 km 0.79 0.79 0.80 0.79 0.79 0.80 0.81 Renewable electricity generated on-site from photovoltaic systems12 MWh - - 16.4 13.7 15.1 15.7 15.7 During the third quarter of the year, we published the 2024 Integrated Report, reflecting our commitment to transparency and accountability by providing detailed information on our progress across the environmental, social, and governance (ESG) dimensions, as well as on the material sustainability topics relevant to our operations. As in previous years, we aligned the Integrated Report with the main ESG disclosure frameworks and standards: the Sustainabil ity Accounting Standards Board (SASB), the Task Force on Climate-related Financial Disclosures (TCFD), and the Global Reporting Initiative (GRI). This positions us to report in accordance with IFRS S1 and S2 accounting standards, based on the International Sustain ability Standards Board (ISSB) framework, which will become mandatory for issuers in Mexico beginning with fiscal year 2025 , to be reported in 2026. In this edition, we complemented the report with the update of our climate -related risks and opportunities assessment, based on TCFD recommendations, and included additional information on our sustainable procurement program, ESG engagement with clients an d communities, as well as solar energy generation indicators from our facilities’ photovoltaic panels (the same indicators presented for the first time in the table above). You may access the report through the following links: Full report: II24_Traxion_ENG_1.pdf | Executive summary: Executive-Report-2024.pdf We seek to maximize our contribution to the Sustainable Development Goals (SDGs) and are committed to implementing the 10 Principles of the United Nations Global Compact. We report and disclose ESG information through two of the leading international repor ting platforms: Standard & Poor's Corporate Sustainability Assessment (S&P-CSA) and the Carbon Disclosure Project (CDP); as well as Bloomberg ESG. TRAXIÓN is part of the S&P/BMV Total Mexico ESG index, placing us among the most prestigious companies recognized for their ESG efforts and achievements in Mexico. We are also part of the Dow Jones Sustainability MILA Pacific Alliance regional index, which rates the ESG performance of leading companies in Chile, Colombia, Mexico, and Peru. TRAXION is one of only f ive transportation companies included in the index. TRAXION is certified under the ISO 37001 “Anti-Corruption Management System” standard and, in September, obtained ISO 37301 “Compliance Management System” certification for the first time, reaffirming our commitment to compliance and integrity. During the third quarter, TRAXION obtained recertification under ISO 37001: Anti -Bribery Management System and ISO 37301: Compliance Management System, reaffirming its commitment to the highest standards of compliance, ethics, and corporate integrity. ESG Ratings: ▪ We are proud to share that, during the first quarter, TRAXION was included for the first time in S&P Global's Global Sustainability Yearbook, one of the most prestigious international recognitions in sustainability. This achievement reflects our commitment to best ESG practices and transparency in communicating our progress. The inclusion is especially significant considering that, out o f the 7,690 companies evaluated across 62 industries worldwide, only 780 were selected to be part of the yearbook this year, positioning TRAXION as one of the only two Mexican companies in the Transportation and Transportation Infrastructure sector to be recognized. ▪ Additionally, in the first quarter, we received our 2024 Carbon Disclosure Project (CDP) Climate Change rating, which we maintained at level B. This rating is at the "Management - Taking Coordinated Action on Climate Issues" level, four levels above 9 Starting in 2025, data from the last-mile fleet of the pharmaceutical business will be included. 9 The performance and intensity indicators are based on our diesel consumption, which annually accounts for 9 5% of our total energy consumption. In addition, our efficiency strategies focus on diesel consumption. 10 SCOPE 1- Diesel, gasoline, and natural gas, based on 2022 calorific powers. 12 In 2024, it only applies to 4Q.
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10 the global transportation sector average, and two levels above both the global and North American 13 regional averages. CDP is the world’s most recognized international environmental disclosure platform, providing relevant information to investors, companies, and governments. ▪ In 3Q24 we achieved a score of 60 in the 2024 S&P Corporate Sustainability Assessment (CSA), an 8 -point increase from 2023, placing us in the top 6% and at position #15 of the highest -rated companies in the industry globally, as well as #1 in the industry in Mexico. The questionnaire enables benchmarking of the company’s performance across a broad range of ESG criteria relevant to the growing number of sustainability -focused investors, according to the world’s most recognized sustainability index database. We invite y ou to vie w our scorecard at the following link: https://43725142.fs1.hubspotusercontent- na1.net/hubfs/43725142/CSA-Scorecard-2024.pdf Progress in gender diversity: ▪ TRAXION’s goal is to achieve 30% female representation in its workforce by 2030. In line with this objective, we are implementing a program to increase their presence in operational positions, specifically addressing the challenges at all stages of the ta lent attraction, development, and retention process. ▪ Furthermore, in line with our strong commitment to gender diversity and ahead of the 2025 goal set in 2022, since the second quarter of 2024, TRAXION’s Board of Directors has had three women as independent board members , thus reaching 20% female representation in this body. Progress in Climate Change, Clean Technologies, and Alternative Fuels: ▪ During the third quarter, we completed the update of our climate-related risks and opportunities assessment, prepared in accordance with the recommendations of the Task Force on Climate -Related Financial Disclosures (TCFD). This assessment includes the quantification of risks and opportunities under different climate scenarios, thereby strengthening our strategic management in response to the challenges and opportunities arising from climate change. ▪ In 2025, one of our main decarbonization strategies is to design, develop, and implement strategic projects in collaboration with our clients, aiming to reduce carbon emissions through the use of clean technologies and greater efficiencies in the services we offer them. ▪ We continue to incorporate zero-emission electric vans into our last-mile fleet and install solar panels for electricity generation at our facilities, whenever the techno-economic conditions allow. ▪ Additionally, we continue evaluating and mapping the availability in the market, as well as the techno -economic feasibility of alternative fuels for our operations, with a particular focus on biomethane and hydrogen. Reporting Frameworks and Standards Transparency and Ratings 13 The relative positioning is estimated using information from the 2023 reporting cycle, as CDP has not yet published this info rmation for the 2024 reporting cycle.
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11 RELEVANT EVENTS During the quarter, TRAXION completed the acquisition of Solistica from Grupo FEMSA and simultaneously sold its operations in Colombia and Brazil. Below are the links to the corresponding relevant events: TRAXION_-_Closing_Solistica_FV_01_Jul_25.pdf TRAXION_-_Sale_BZ__CO_FV_01_Jul_25.pdf ANALYST COVERAGE Institution Analyst Contact Actinver Ramón Ortiz rortiz@actinver.com.mx Bank of America Carlos Peyrelongue carlos.peyrelongue@bofa.com Barclays Pablo Monsiváis, CFA pablo.monsivais@barclays.com BBVA Pablo Abraham pablo.abraham@bbva.com BTG Pactual Fernanda Recchia fernanda.recchia@btgpactual.com Citi Andrés Cardona andres.cardona@citi.com Jefferies Alejandro Demichelis ademichelis@jefferies.com JP Morgan Guilherme Mendes guilherme.g.mendes@jpmorgan.com Miranda - Vector Martín Lara martin.lara@miranda-gr.com Signum Research Alejandro de la Rosa alejandro.delarosa@signumresearch.com Santander Abraham Fuentes afuentes@santander.com.mx ABOUT TRAXION TRAXION is the leading transportation and logistics company in Mexico. It offers integrated solutions through the broadest and most d iverse service portfolio in the country. TRAXION’s platform operates three business segments: cargo mobility, logistics and technology, and personnel mobility. The Company has 12 brands recognized for their leadership in the different business niches in which they operate. TRAXION was established in 2011 and closed 3Q25 with an average fleet of 11,069 power units, 1,041,922 square meters of 3PL logistics warehouse space, national footprint, a portfolio of more than 1,300 clients, and over 2 5,000 employees. Among TRAXION’s most important competitive advantages are an experienced and committed management team, the use of cutting-edge technologies, being the only consolidator in a highly fragmented sector, being the only institutional company in an industry dominated by family -owned businesses, a diversified premium service portfolio, long-term relationships with clients and supp liers, and a forward-looking market vision. Logistics and Technology In this segment, TRAXION provides logistics solutions across the entire supply chain through digital platforms and technological applications with an asset- light focus. The services offered include integrated 4PL logistics solutions, 3PL warehouse management, last -mile services, freight brokerage, and intermodal rail services, among others. By the end of 3Q25, the Company operated more than 1,041,922 square meters of 3PL warehouse space and a last-mile fleet of 320 units. Mobility of Cargo The cargo mobility segment provides comprehensive cargo solutions. The Company’s services include dedicated freight, less-than-truckload, intermodal freight, refrigerated freight, international cargo, and border crossings, as well as petrochemical transportation, moving ser vices, and specialized transportation. We operate a platform with five highly recognized brands: Transportadora EGOBA, Muebles y Mudanzas MYM, Grupo SID, Auto Express Frontera Norte, and Autotransportes El Bisonte. TRAXION has one of the most modern, diverse, and flexible fleets in the industry, with an average of 2,240 power units at the close of 3Q25. Mobility of Personnel The school and personnel transportation segment provides services for transporting personnel to corporations, industrial park s, and hotels, as well as student transportation to schools and universities, and group tourism services. Through its subsidiary LI PU, TRAXION operates a centralized platform under dedicated contracts or spot services, and the largest and most modern fleet in Mexico, consisting of an average of 8,509 power units at the close of 3Q25.
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12 BALANCE SHEET (figures in thousands of pesos MXN) ASSETS 2025 2024 LIABILITIES AND SHAREHOLDERS' EQUITY 2025 2024 Current Assets: Current liabilities: Cash & equivalents 1,390,186 1,455,551 Current portion of long-term debt 1,296,944 1,459,962 Receivables, net 6,608,433 5,267,631 Current portion of long-term debt securities 120,000 100,000 Income Tax Assets 261,037 183,666 Obligations under capital leases 26,544 49,282 Other Tax Assets 411,888 685,476 Short-term leasing obligations IFRS 16 834,799 476,080 Other Accounts Receivable, Net 624,890 709,499 Suppliers 2,004,051 1,756,647 Inventories, Net 255,536 220,799 Creditors 1,076,912 1,032,650 Prepayments 723,946 319,958 Other taxes payable 1,009,539 1,071,190 Short-term derivatives 2,888 20,043 Accrued liabilities 1,736,145 1,072,332 Total current assets 10,278,804 8,862,623 Income taxes 89,482 71,784 Employee statutory profit sharing 123,949 102,656 Advancement from clients 39,055 107,754 Total current liabilities 8,357,420 7,300,337 Non-current assets: Non-current liabilities: Long-term prepayments 189,504 180,933 Long-term bank debt14 10,775,077 8,383,326 Transportation equipment and machinery, net 16,721,839 15,700,880 Long-term debt (bonds payable)14 2,500,000 2,500,000 Assets under right of use, net 2,119,414 1,166,278 Long-term obligations under capital leases14 1,189 18,949 Investments in associates and joint ventures 501,269 407,780 Long-term leasing obligations IFRS 16 1,349,744 638,314 Goodwill 5,862,279 5,324,164 Contingency provision 92,443 - Intangible assets and other assets, net 2,258,391 2,187,119 Employee benefits 285,396 121,423 Deposits in guarantee 151,752 108,587 Deferred income taxes 1,532,847 1,456,963 Derivative financial instruments - 1,929 Total non-current liabilities 16,536,696 13,118,975 Deferred income taxes 1,184,032 656,402 Total liabilities 24,894,116 20,419,312 Total non-current assets 28,988,480 25,734,072 Shareholders' equity: Equity 9,848,026 9,892,443 Additional paid-in capital 135,944 135,944 Legal reserve 113,654 99,602 Actuarial loss (17,993) (5,708) Earnings from derivative financial instruments 1,526 14,885 Foreign currency translation effect (651) 586 Other equity accounts (460,134) (394,770) Retained earnings 4,779,080 4,455,361 Total Shareholders' equity 14,399,452 14,198,343 Non-controlling interests (26,284) (20,960) Total equity 14,373,168 14,177,383 Total Assets 39,267,284 34,596,695 Total liabilities and equity 39,267,284 34,596,695 14 Excluding current installments
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13 INCOME STATEMENT (figures in thousands of pesos MXN) 3Q25 3Q24 ∆% 9M25 9M24 ∆% Service Revenues: Cargo 1,942,910 2,276,666 (14.7)% 6,050,070 6,078,268 (0.5)% Logistics services 3,881,750 2,568,673 51.1% 8,503,669 7,695,802 10.5% Personnel 2,797,635 2,684,054 4.2% 8,209,101 7,785,079 5.4% Total operating revenue 8,622,295 7,529,393 14.5% 22,762,840 21,559,149 5.6% Total costs 6,955,819 5,873,538 17,979,469 16,835,187 Gross profit 1,666,476 1,655,855 0.6% 4,783,371 4,723,962 1.3% General expenses 1,244,329 1,017,822 3,126,111 2,989,334 Allowance for doubtful accounts 57,738 16,222 94,598 40,403 Other (income) expense, net (268,759) 13,954 (307,141) (71,838) Operating income 633,168 607,857 4.2% 1,869,803 1,766,063 5.9% Comprehensive financial result: Interest expense (459,849) (456,566) (1,326,999) (1,228,109) Financial cost of the defined benefit plan (5,138) (1,360) (8,298) (4,060) Other financial costs (4,211) (7,258) (43,425) (22,680) Foreign exchange (loss) gain, net (1,049) 33,272 (52,786) 69,603 Effect of valuation of financial instruments 2,868 10,655 14,307 34,181 Interest income 11,131 13,314 39,494 48,321 Comprehensive financial result (456,248) (407,943) (1,377,707) (1,102,744) Profit before income taxes 176,920 199,914 (11.5)% 492,096 663,319 (25.8)% Income taxes: Fiscal basis 87,304 130,288 229,150 229,157 Deferred (22,470) (25,661) (69,501) (22,138) Total income tax 64,834 104,627 159,649 207,019 Net income 112,086 95,287 17.6% 332,447 456,300 (27.1)%
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14 CASHFLOWS (figures in thousands of pesos MXN) 3Q25 3Q24 9M25 9M24 Cash flow from operating activities: Net income 112,086 95,287 332,447 456,300 Depreciation and amortization 779,259 647,642 2,089,592 1,870,471 Impairment of accounts receivable and other accounts receivable 57,738 16,222 94,598 40,403 Income taxes 64,834 104,627 159,649 207,019 Share based payment 8,033 - 24,099 - Unrealized foreign exchange loss (gain) 1,800 52,743 815 27,113 Interest expense, net 452,929 450,510 1,330,930 1,202,468 Loss (profit) on sale of transportation equipment & machinery 35,973 9,990 46,710 51,954 Others 2,270 (9,295) (6,009) (30,121) Cash flow before variations in working capital 1,514,922 1,367,726 4,072,831 3,825,607 Receivables 609,218 178,107 276,897 (923,324) Accounts receivable from related parties - (1,209) - (1,209) Other current assets 5,527 (12,251) 212,611 (71,974) Creditable taxes (92,980) (76,378) (184,674) (176,241) Suppliers (138,234) (114,191) (196,984) 180,659 Accrued liabilities (143,123) 200,392 (271,138) 467,724 Accounts payable to related parties (451) - - - Advancements from clients 21,944 9,101 (69,002) (41,253) Other taxes payable (334,311) (77,955) (511,784) (160,694) Net cash flows from operating activities 1,442,512 1,473,342 3,328,757 3,099,295 Net cash flows from investing activities: Acquisition of transportation equipment & machinery (650,843) (1,021,018) (1,957,918) (2,840,676) Other assets and liabilities, net 35,704 (165,902) 55,117 (187,407) Consideration for business acquisition (1,480,310) - (1,480,310) (36,601) Other charges (payments) to sell (acquire) capital or debt instruments of other entities (52,056) (17,411) (93,489) (101,062) Interest income 11,131 13,314 39,494 48,321 Net cash flows from investing activities (2,136,374) (1,191,017) (3,437,106) (3,117,425) Cash flows from financing activities: Payments of bank loans (828,364) (834,481) (5,850,918) (1,740,121) Increases in share capital - - - - Repurchase of shares (35,979) (37,565) (161,893) (104,378) Share plan - - - - Payments of capital leases (11,088) (25,923) (40,499) (80,114) Settlement of derivative financial instruments - - - (2,549) Charges of derivative financial instruments 2,868 10,654 14,307 34,180 Stock market loans (120,000) - - - Bank loans 2,105,965 1,697,461 8,169,272 3,705,928 Payments of leases (310,491) (225,014) (701,016) (613,040) Interest expense (465,239) (486,127) (1,335,782) (1,203,936) Net cash flows from financing activities 337,672 99,005 93,471 (4,030) (Decrease) Increase in cash and equivalents, net (356,190) 381,330 (14,878) (22,160) Cash and equivalents at beginning of period 1,749,003 976,309 1,455,551 1,379,799 Revaluation effect on cash (2,627) 4,028 (50,487) 4,028 Cash and equivalents at end of period 1,390,186 1,361,667 1,390,186 1,361,667