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www.tecnoglass.com Second Quarter 2025 Earnings Conference Call August 7, 2025 – TECNOGLASS INC. (NYSE: TGLS)
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FORWARD LOOKING STATEMENTS This presentation includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are based on Tecnoglass’ current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of Tecnoglass’ business. These risks, uncertainties and contingencies are indicated from time to time in Tecnoglass’ filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. Further, investors should keep in mind that Tecnoglass’ financial results in any particular period may not be indicative of future results. Tecnoglass is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise. FINANCIAL PRESENTATION Certain of the financial information contained herein is unaudited and does not conform to SEC Regulation S-X. Furthermore, it includes EBITDA (earnings before interest, taxes, depreciation and amortization) which is a non-GAAP financial measure as defined by Regulation G promulgated by the SEC under the Securities Act of 1933, as amended. Accordingly, such information may be materially different when presented in Tecnoglass’ filings with the Securities and Exchange Commission. Tecnoglass believes that the presentation of this non-GAAP financial measure provides information that is useful to investors as it indicates more clearly the ability of Tecnoglass to meet capital expenditures and working capital requirements and otherwise meet its obligations as they become due. EBITDA was derived by taking earnings before interest, taxes, depreciation and amortizationas adjusted for certain one-time non-recurring items and exclusions. NO OFFER OR SOLICITATION This announcement is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Disclaimer 2Earnings Presentation | August 2025
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Highlights www.tecnoglass.com 300 Third Avenue Waltham, Massachusetts l
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Q2 2025 Key Takeaways Total U.S. Revenues Q2’25 Total Revenues Q2’25 Q2’25 Revenues Q2’25 Operating Cash Flow Backlog 4 Revenues by Geography Q2’25 U.S. End Market Mix Q2’25 $255.5 mm $17.9 mm $1.20 bn Q2’25 Adj EBITDA $79.8 mm Notes: 1. Adjusted EBITDA, Adjusted Net Income and Adjusted EPS excludes non-recurring and non-cash expenses mainly associated with non-cash foreign exchange transaction gains or losses, non -recurring professional fees and other non-core items, and include the proportional contribution of the Company’s joint venture with Saint -Gobain. 95% 5% U.S. LatAm/Other • Revenues up 16.3% YoY to an all-time record of $255.5 mm, driven by strong performance across core markets, continued market share gains through expanding presence in new geographies, and increased traction in the vinyl business • Single-family residential revenues grew 14.5% YoY to $109.6 mm, supported by dealership growth, geographic expansion, and vinyl contributions • Single-family residential orders increased 29% sequentially in Q2’25, marking the second highest quarter on record and creating strong momentum into Q3’25 and potentially beyond • Multi-family and commercial revenues grew 17.8% YoY to $145.9 mm, reflecting consistent execution on our record backlog • Gross margin of 44.7% for Q2’25, up 400 bps YoY benefiting from stronger single-family residential pricing, operating leverage on revenue growth and favorable FX dynamics • Adj. EBITDA(1) increased 24.5% YoY to $79.8 mm, with margin improving 200 bps YoY to 31.2% of revenues • Adjusted net income(1) of $48.5 mm, or Adj. EPS(1) of $1.03 • Ended the quarter with net cash position of $28.7 mm, amplifying the Company´s financial flexibility • Continued record Backlog of $1.20 bn, up 17.2% YoY, representing a book-to-build ratio of 1.2x and ~2.2x LTM multi-family and commercial revenues • Signed lease for West Coast showroom which is expected to open during Q4 of this year to help support the recently introduced Legacy product line • Continued increase in vinyl quoting activity reinforces our outlook for vinyl sales growth through 2025 and into 2026 • Completed Asset Acquisition of Continental Glass Systems, diversifying production into the U.S. 45% 55% SF Residential Multi-Family/ Commercial
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U.S. Growth Driving Resilient Multi-family/Commercial Backlog Majority of backlog weighted towards medium and high rise residential, which are outperforming most sectors U.S. Colombia / Latam At Q2’25 At Q2’24 $1.2 bn Backlog $1.0 bn Backlog 97% 3% 5 Backlog as of Q2’25 by End Market Geographic Mix Backlog Overview $1.2 bn Backlog 62% 38% Multifamily / Residential Related Commercial • Backlog expanded 17.2% YoY to a record $1.2 bn, supported by our strong execution track record on high-profile projects and ability to gain market share, which continues to drive new opportunities across the U.S. • Favorable demographic trends in Florida and Southeast along with favorable commercial sub-sector mix allow for continued strength despite macroeconomic uncertainty • U.S. backlog represents 97% of total backlog, driven by continued market share gains, geographical diversification and strong activity in the Southeast U.S. • While interest rates remain high, the majority of backlog is comprised of projects that we believe to have lesser sensitivity to interest rate fluctuations (high end condos, luxury lodging, etc.) • Book-to-build ratio remains strong, supporting a visible path for growth into 2025 and 2026 • Solid single-family residential growth trajectory not fully captured in backlog given shorter term “spot” duration of projects 94% 6% Earnings Presentation | August 2025
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Demonstrated History of Converting Backlog to Revenue Backlog to Revenue Conversion Note: Excludes Single-family Residential • Backlog has demonstrated consistent growth each quarter since 2021, reflecting sustained business momentum and a strong pipeline • On average, ~63% of multi-family and commercial revenue in backlog rolls off within 12 months and ~97% of the backlog rolls off within 18 months. Currently, the backlog composition has shifted toward more large-scale projects (with lesser interest rate sensitivity), which get executed over a longer time period (typically multi-year execution) • Book-to-bill ratio of 1.2x in Q2’25 with strong bidding activity signaling attractive project opportunities in the near future and adding to a solid book-to-bill ratio above 1.1x for the past 18 consecutive quarters • Virtually no project cancellations historically given late-stage installation of windows into largely completed buildings, though tighter lending standards or other delays may lead to some longer duration projects • Single-family residential not fully reflected in backlog and provides additional growth avenues through showroom expansions and recent vinyl window market entry 6Earnings Presentation | August 2025 518 525 532 542 546 550 536 545 552 559 576 585 651 668 697 725 776 797 836 870 916 1,021 1,041 1,110 1,144 1,196 66% 60% 58% 56% 59% 61% 60% 58% 55% 57% 63% 70% 70% 75% 73% 69% 64% 61% 59% 60% 58% 55% 56% 52% 95% 92% 90% 87% 86% 88% 88% 89% 93% 100% 106% 114% 110% 111% 107% 102% 97% 95% 92% 93% 91% 84% -10% 10% 30% 50% 70% 90% 110% 130% $ 250 $ 350 $ 450 $ 550 $ 650 $ 750 $ 850 $ 950 $ 1,050 $ 1,150 $ 1,250 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 $ millions Total Backlog Multi-Family / Commercial Revenue Next 12M as % of Backlog Multi-Family / Commercial Revenue Next 18M as % of Backlog
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Single-Family Residential Business Expanding Strong Presence in High-Demand U.S. Markets Energy Efficiency & Heat Insulation East Coast Energy Efficiency & Heat Insulation California & Arizona Impact Resistance Florida Mixed Texas Product Innovation to Propel EffectiveExpansion Core Presence Today Developing Presence Operational Showrooms Expected 2025 Openings Emerging Presence Legacy Line Legacy Line Legacy Line Interiors Interiors Interiors Interiors • Record Q2’25 single-family residential revenues of $110 mm, now 46% of U.S. revenues vs. 3% in 2017 • Orders increased 29% sequentially in Q2’25, creating strong momentum into Q3’25 and potentially beyond • Market share upside to single-family residential revenues exists through multiple avenues: ❖ Organic growth driven by a widening dealer base enabled by short lead times (5-6 weeks) and innovative product development ❖ Geographic expansion in Florida and throughout the U.S. through showroom openings and vinyl market entry ❖ Strong demographic trends in key TGLS markets, with showrooms in major, fast-growing U.S. cities • Balanced end-market exposure with ~65% of single-family residential revenues tied to R&R demand, which is more resilient and historically less correlated with mortgage rate fluctuations Strategy to further penetrate the single-family residential market • Operational showrooms in SC, NY, TX & AZ; CA expected by end of 2025 • Legacy Light aluminum product line launched to cover the Southwest U.S. • Vinyl entry more than doubles addressable market, leveraging existing network for rapid U.S. expansion; strong early traction with robust quoting activity signals significant growth potential • +20 sales representatives covering strategic areas • Dealership expansion CAGR of more than 20% over the last 8 years Earnings Presentation | August 2025
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Financial Update www.tecnoglass.com l Aston Martin Miami, Florida l
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Revenue Bridge 2025 vs. 2024 Notes: 1. Peer average includes AMWD, APOG, AWI, AYI, AZEK, FBIN, JBI, JELD, MBC, NX, ROCK, SSD, and TILE as of latest annual SEC filings; Sourced from FactS et Q2 2025 Revenue Bridge (US$M) 9 TGLS LTM revenue mix from U.S. +95%, compared to average of84% for U.S.-based building product peers(1) • Revenue growth of 16.3% YoY to $255.5 mm in Q2’25 driven by market share gains in single-family residential and multi-family / commercial revenues, as a result of robust demand for our best-in-class product offerings, coupled with ability to continue gaining share in geographies that are outperforming the broader U.S. market • Single-family residential revenues increased $13.8 mm, or 14.5% YoY ,to $109.6 mm in Q2’25 on market share gains and continued positive demographic trends in our key regions and partially impacted by a modest pull forward effect driven by customers accelerating orders ahead of anticipated tariff-related price adjustments. Single-family residential orders continued on strong trajectory, providing solid near-term visibility • Solid growth in multi-family / commercial revenues in the U.S., up 16.4% YoY to $132.6 mm, representing continued execution on our record backlog and, to a smaller degree, the benefit from the Continental glass acquisition of approximately $5 mm during the quarter
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Adjusted EBITDA(1) Bridge 2025 vs. 2024 Notes: 1. Adjusted EBITDA excludes non-recurring and non-cash expenses mainly associated with our bond issuance and respective extinguishm ent of former debt, withholding taxes associated with payments to bondholders, acquisition related costs and other non -recurring items Q2 2025 Adjusted EBITDA Bridge (US$M) 10 Adjusted EBITDA margin 29.2% 31.2% • Gross margin increased 400 bps YoY to 44.7% primarily due to stronger retail pricing, operating leverage on ~16% YoY revenue growth, and favorable FX as COP depreciated 7.0% against USD, more than offsetting higher SG&A • SG&A increased primarily driven by the impact of aluminum tariffs prior to our mitigation measures, and by inflation adjusted salary increases that take place at the beginning of each year; SG&A as a percent of revenues increased 330 bps YoY to 20.8% • Operating margin increased to 24.0% primarily on higher revenues, more than offsetting temporary impact of non-recurring aluminum tariffs and personnel expenses • Q2’25 Adjusted EBITDA(1) increased 24.5% YoY to $79.8 mm on higher revenues and improved gross margins. As a percentage of revenues, Adjusted EBITDA(1) improved 200 bps YoY to 31.2% • Hedged large portion of Colombian Peso FX exposure for the rest of the year at rates ~9% better than 2024, offsetting local currency inflationary pressures
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242.3 259.8 224.5 199.1 169.5 170.0 109.3 109.2 2.59x 2.29x 1.61x 0.76x 0.24x 0.13x -0.09x -0.09x -0.50x 0.00x 0.50x 1.00x 1.50x 2.00x 2.50x 3.00x 0.0 50.0 100.0 150.0 200.0 250.0 300.0 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 LTM Q2'25 Total Debt Net Debt/Adjusted EBITDA Strong Cash Flow & Balance Sheet Notes: 1. Adjusted EBITDA excludes non-recurring and non-cash expenses mainly associated with our bond issuance and respective extinguishment of former debt, acquisition related costs and other non-recurring items 2. On a pro forma basis as of March 31, 2024 giving effect to the $350 mm senior secured facility ($ in Millions) • Strong cash conversion of Adj. EBITDA(1) driving $17.9 mm of cash flow from operations in Q2’25, despite seasonal tax payments during the quarter • Ended the quarter with net cash position of $28.7 mm • Liquidity(2) of ~$310 mm, including cash of $137.9 mm and $170.0 mm of availability under revolving credit facility • Record net debt / LTM Adj. EBITDA(1) at -0.09x with no significant debt maturities until the end of 2026 • Interest rate at lowest tier under debt agreement at SOFR + 1.50% and hedged through maturity at low rates, mitigating interest rate fluctuations • Significant financial flexibility to execute growth, invest in business and return cash to shareholders 11 Solid Net Leverage and Balance Sheet ($ in Millions) Strong Cash Flow Generation 138.8141.9 117.3 71.7 26.7 Operating Cash Flow 170.5 167.3 1.8 53.4 65.7 70.6 60.9 91.0 67.3 25.0 18.3 51.5 71.3 78.0 79.6 100.0 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 LTM Q2'25 Free Cash Flow CAPEX
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Track Record of Strong Returns Above Peers Stronger profitability and significant improvement in working capital driving strong returns 1 39% 16% TGLS U.S. Building Products Peers 27% 10% TGLS U.S. Building Products Peers 12 3 Year Average ROE 3 Year Average ROIC Notes: 1. U.S. Building Products Peers include AMWD, APOG, AWI, AYI, AZEK, FBIN, JBI, JELD, MBC, NX, ROCK, SSD, and TILE for the three year period from Q1 2022 to Q1 2025. Source: FactSet. 1
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OUTLOOK UPDATE www.tecnoglass.com 205 Race Street Philadelphia, Pennsylvania l
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2025 Outlook 14 Notes: 1. Adjusted EBITDA excludes non-recurring and non-cash expenses mainly associated with our bond issuance and respective extinguishment of former debt, acquisition related costs and other non-recurring items • Non-material impact to construction industry from aluminum or reciprocal tariffs; Mostly offset via favorable pricing • Continued downtrend in interest rates driving mortgage rates lower • Favorable FX with the Peso at $4,200 or weaker; Hedged a large portion of Colombian Peso FX exposure for the rest of the year • HSD growth for legacy single-family residential revenues • Vinyl revenues of approximately $15-20 mm • Incorporates the effect or pricing adjustments for the second half of 2025 • Gross Margin at mid to high 40% range • Contributions from the acquisition of Continental assets High End $1.02 B Revenue $325 MM Adj. EBITDA Low End $980 MM Revenue $310 MM Adj. EBITDA • Widespread tariffs drives up inflation and constrains construction spending • Assumes that pricing increase partially offset by SF volume decrease • Inflation causes interest rates/mortgage rates to stay at current levels or higher, with builder confidence deteriorating • FX headwind from stronger Colombian Peso YoY • Flat to LSD growth for legacy single-family residential revenues, with a higher mix of commercial jobs with installation • Vinyl Revenues of approximately $10-15 mm • Slower activity in short-term/small commercial projects • Gross Margin at low 40% range • Contributions from the acquisition of Continental assets Full Year 2025 Outlook Assumptions
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APPENDIX www.tecnoglass.com 3Eleven 601 Hudson Yards New York City, New York l
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Vertically-Integrated & Well-Situated Operations Create Structural Advantages Structural advantages resulting in substantially shorter lead times than industry, unlocking opportunities for continued expansion and market share gains Suppliers Sales, Distribution & Installation Final Product Production Process Raw MaterialsSuppliers JV & Long Term Supply Relationships Tecnoglass integration across the architectural glass and window value chain provides significant control over a substantial portion of costs and structural advantages relative to industry peers Raw Materials Labor Transportation Energy ✓ Stable glass supply and costs resulting from JV with St. Gobain ✓ Majority of aluminum costs hedged through fixed price contracts ✓ Investments in automation initiatives and commitment to workforce providing production efficiency and low turnover ✓ While TGLS pays 15% above minimum wage, this is 7-10x below U.S. peers ✓ U.S./Colombia trade imbalance mitigates marine transportation costs ✓ Connected supply chain keeps intercompany transport costs <5% of revenues ✓ 15% energy savings from prior investments in renewables (solar panels) ✓ Utilizing co-generation through on-site natural gas emissions 16Earnings Presentation | August 2025
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ESG Strategy Environmental Social Governance Promoting Continuous, Ethical and Responsible GrowthEnhancing Our EnvironmentLeading Eco-Efficiency and Innovation Outstanding Achievements Ethics and Compliance Program Efficient Supply Chain Security Management Continuous Improvement of Our Products Through Our Quality Management System “QMS” Communication Strategies In- Line With the Company’s Objectives and Specially Designed for Each Audience National Carbon Neutrality Program +15,000 Solar Panels Installed Generating Over 32.443,19 MWh Container and Packaging Environmental Management Plan Employee Training and Education Programs Program for Prevention and Care of COVID-19 Tecnoglass ESWindows Foundation Social Intervention Campaigns Occupational Health and Safety Waste Management and Utilization Automation and Innovation 17Earnings Presentation | August 2025
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ESG Strategy Our Sustainability Strategy contains the Company’s guidelines and value propositions to meet the expectations of our stakeholders Adapt our offer and operation to new markets Conduct our business with integrity, ethical and transparency Adopt best corporate governance practices that facilitate decision making and accountability Consolidate and protect our brand Encourage the energy efficiency of the operation and the products Prevent, mitigate and compensate environmental impacts of the business Generate quality work opportunities Promote and adopt the best labor and Human Rights Achieve an accident-free labor environment, supported by culture of health and safety Generate value for the communities in the areas of influence Build and develop a comprehensive teamwork with innovating mentality Promote the efficient use of materials and technologies, respectful with the environment Position an innovation and quality approach within all of the Company`s processes Responsible management of the value chain and the product cycle Strengthen risk management as strategic factor for the organization 18 Environmental Social Governance Promoting Continuous, Ethical and Responsible GrowthEnhancing Our EnvironmentLeading Eco-Efficiency and Innovation Earnings Presentation | August 2025
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Leading Eco-efficiency and Innovation of our revenues are Impact Resistant (Hurricane), reflecting the increasing demand for resilient solutions in regions vulnerable to extreme weather events of our revenues are Energy Efficient, including IGUs and low emissivity glass, providing greener and more efficient cooling or heating energy usage of our Low-E products are equipped with double or more coatings, providing superior performance sought in sustainable building solutions Over 85% of Tecnoglass’ total revenues are considered Green Revenues, including low emissivity and impact-resistant glass and windows, contributing to reducing global emissions and mitigating climate change effects 19 68% 65% 84% Earnings Presentation | August 2025
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2025 2024 2025 2024 Net (loss) income 44,083 35,028 86,272 64,758 Less: Income (loss) attributable to non-controlling interest - - - - (Loss) Income attributable to parent 44,083 35,028 86,272 64,758 Foreign currency transactions losses (gains) (847) 5,575 (338) 5,728 Provision for bad debt 772 150 987 275 Non-Recurring expenses (non-recurring professional fees, capital market fees, other non-core items) 6,660 968 7,297 1,639 Joint Venture VA (Saint Gobain) adjustments (89) 1,409 (142) 2,192 Tax impact of adjustments at statutory rate (2,079) (2,593) (2,497) (3,147) Adjusted net (loss) income 48,500 40,537 91,578 71,445 Basic income (loss) per share 0.94 0.75 1.84 1.38 Diluted income (loss) per share 0.94 0.75 1.84 1.38 Diluted Adjusted net income (loss) per share 1.03 0.86 1.95 1.52 Diluted Weighted Average Common Shares Outstanding in thousands 46,988 46,997 46,990 46,997 Basic weighted average common shares outstanding in thousands 46,988 46,997 46,990 46,997 Diluted weighted average common shares outstanding in thousands 46,988 46,997 46,990 46,997 2025 2024 2025 2024 Net (loss) income 44,083 35,028 86,272 64,758 Less: Income (loss) attributable to non-controlling interest - - - - (Loss) Income attributable to parent 44,083 35,028 86,272 64,758 Interest expense and deferred cost of financing 1,350 2,006 2,681 4,112 Income tax (benefit) provision 18,148 12,493 35,808 23,652 Depreciation & amortization 9,145 6,463 16,483 12,779 Foreign currency transactions losses (gains) (847) 5,575 (338) 5,728 Provision for bad debt 772 150 987 275 Non-Recurring expenses (non-recurring professional fees, capital market fees, other non-core items) 6,660 968 7,297 1,639 Joint Venture VA (Saint Gobain) EBITDA adjustments 468 1,409 789 2,192 Adjusted EBITDA 79,779 64,092 149,979 115,135 Three months ended Six months ended Jun 30, Jun 30, Three months ended Six months ended Jun 30, Jun 30, Non-GAAP Reconciliation1 Adjusted EBITDA and adjusted net (loss) income attributable to parent reconciliation Notes: 1. Adjusted EBITDA, Adjusted EBIT and Adjusted Net Income are not measures of financial performance under generally accepted accounting principles (“GAAP”). Management believes Adjusted EBITDA, Adjusted EBIT and Adjusted Net Income, in addition to operating profit, net income and other GAAP measures, is useful to investors to evaluate the Company’s results because it excludes certain items that are not directly related to the Company’s core operating performance. Investors should recognize that Adjusted EBITDA, Adjusted EBIT and Adjusted Net Income might not be comparable to similarly-titled measures of other companies. These measures should be considered in addition to, and not as a substitute for or superior to, any measure of performance prepared in accordance with GAAP. Because GAAP financial measures on a forward-looking basis are not accessible, and reconciling information is not available without unreasonableeffort, we have not provided reconciliationsfor forward-looking non-GAAP measures. Figures in U.S. $k 20Earnings Presentation | August 2025
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Non-GAAP Reconciliation1 Net Debt, Leverage and Total Investment Reconciliations Figures in U.S. $k Notes: 1. Total Investment and Free Cash Flow are not financial measures under generally accepted accounting principles (“GAAP”). Management believes this measurements are useful to investors to evaluate the Company’s performance. Total Investment includes capex or cash acquisition of property and equipment, assets acquired under capital lease and assets acquired with debt. Free Cash Flow is calculated as cash (used in) provided by operating activities (-) capex or cash acquisition of property and equipment. Free Cash Flow do not include assets acquired under capital lease or debt. Investors should recognize Total Investment and Free Cash Flow might not be comparable to similarly-titled measures of other companies. These measures should be considered in addition to, and not as a substitute for or superior to, any measure prepared in accordance with GAAP. Because GAAP financial measures on a forward-looking basis are not accessible, and reconciling informationis not available without unreasonableeffort, we have not provided reconciliations for forward-looking non-GAAP measures. 21Earnings Presentation | August 2025 2024 2025 Short Term Debt and Current Portion of Long Term Debt 2,197 587 Long Term Debt 142,539 108,643 Gross Debt 142,255 109,229 Cash at the end of the period 126,805 137,907 Net Debt 15,450 (28,678) LTM Adjusted EBITDA 248,434 310,657 Net Debt / LTM Adjusted EBITDA 0.06x -0.09x As of Jun 30,