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www.tecnoglass.com Third Quarter 2025 Earnings Conference Call November 6, 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 | November 2025
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Highlights www.tecnoglass.com 300 Third Avenue Waltham, Massachusetts l
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Q3 2025 Key Takeaways Total U.S. Revenues Q3’25 Total Revenues Q3’25 Q3’25 Revenues Q3’25 Operating Cash Flow Backlog 4 Revenues by Geography Q3’25 U.S. End Market Mix Q3’25 $260.5 mm $40.0 mm $1.3 bn Q3’25 Adj EBITDA $79.1 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 9.3% YoY to a record $260.5 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 3.4% YoY to a record $113.5 mm, supported by dealership growth, geographic expansion, and vinyl contributions. Orders remained strong YTD, with the dealer base up 22.7% YoY and 6% QoQ, driven largely by new geographies supporting continued expansion • Multi-family and commercial revenues grew 14.3% YoY to $147.0 mm, reflecting consistent execution on our record backlog • Strong operating cash flow of $40.0 mm driven by industry leading profitability and enhanced working capital management, generating free cash flow of $21.2 mm for the quarter • Gross margin of 42.7% for Q3’25, included a less favorable mix with higher installation, FX headwinds and higher labor and raw material cost related to all time high U.S. aluminum premiums, partially offset by stronger single- family residential pricing • Strong Adj. EBITDA (1) of $79.1 mm, or 30.4% of revenues • Net income of $47.2 mm, or EPS of $1.01 • Continued record Backlog of $1.3 bn, up 21.4% YoY, representing a book-to-build ratio of 1.3x and ~2.2x LTM multi- family and commercial revenues • Repurchased $30 mm of shares during the quarter; Board approved an increase in the share repurchase program to $150 mm • Syndicate Facility increase to $500 mm from $150 mm, providing significant financial flexibility for growth and other strategic capital allocation initiatives • Strong reception of the recently launched Legacy line, with a West Coast showroom lease signed in Q3’25, expected to open in Q4’25 to further support growing demand 44% 56% 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 Q3’25 At Q3’24 $1.3 bn Backlog $1.04 bn Backlog 97% 3% 5 Backlog as of Q3’25 by End Market Geographic Mix Backlog Overview $1.3 bn Backlog 62% 38% Multifamily / Residential Related Commercial • Backlog expanded 21.4% YoY to a record $1.3 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. • More 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 (but trending lower), the majority of backlog is comprised of projects that we believe to have less 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 | November 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 1.3x in Q3’25 adding to a solid book-to-bill ratio above 1.1x for the past 19 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 6 518 525 532 542 546 550 536 545 552 559 576 585 651 668 697 725 776 797 836 870 916 1,021 1,041 1,110 1,144 1,196 1,263 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 % $ 25 0 $ 45 0 $ 65 0 $ 85 0 $ 1,0 50 $ 1,2 50 $ 1,4 50 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 Q3'25 $ millions Total Backlog Multi-Family / Commercial Revenue Next 12M as % of Backlog Multi-Family / Commercial Revenue Next 18M as % of Backlog Earnings Presentation | November 2025
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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 Q3’25 single-family residential revenues of $113 mm, now 46% of U.S. revenues vs. 3% in 2017; Order level increased 21% YoY to $89 mm in Q3'25 compared to a softer Q3’24 when most orders were already pulled forward to Q2’24 ahead of the expiration of Florida’s sales tax waiver; Orders continued on a stable trajectory into Q4’25 • Market share upside to single-family residential revenues exists through multiple avenues: ❖ Organic growth driven by a widening dealer base enabled by short lead times (5-6 weeks) and innovative product development ❖ Geographic expansion in Florida and throughout the U.S. through showroom openings and vinyl market entry ❖ Strong demographic trends in key TGLS markets, with showrooms in major, fast-growing U.S. cities • Balanced end-market exposure with ~65% of single-family residential revenues tied to repair & remodel demand, which is more resilient and historically less correlated with mortgage rate fluctuations Strategy to further penetrate the single-family residential market • Operational showrooms in SC, NY, TX & AZ; Expect CA by end of 2025 • Legacy Light aluminum product line launched to cover the Southwest U.S. • Vinyl entry more than doubles addressable market, leveraging existing network for rapid U.S. expansion; strong early traction with robust quoting activity signals significant growth potential • +20 sales representatives covering strategic areas • Dealership expansion CAGR of more than 20% over the last 8 years Earnings Presentation | November 2025
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Financial Update www.tecnoglass.com l Aston Martin Miami, Florida l
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Revenue Bridge 2025 vs. 2024 Notes: 1. Peer average includes AMWD, APOG, AWI, AYI, AZEK, FBIN, JBI, JELD, MBC, NX, ROCK, SSD, and TILE as of latest annual SEC filings; Sourced from FactS et Q3 2025 Revenue Bridge (US$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 9.3% YoY to an all-time high of $260.5 mm in Q3’25 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 the ability to continue gaining share in geographies that are outperforming the broader U.S. market • Single-family residential revenues increased $3.8 mm, or 3.4% YoY ,to $113.5 mm in Q3’25 on stable conditions within our core markets, continued growth in new geographies and vinyl products lines, and favorable pricing adjustments carried out in the previous quarter • Solid growth in U.S. multi-family / commercial revenues, up 12.3% YoY to $133.0 mm, representing continued execution on our record backlog and a contribution of approximately $4 mm from the Continental Glass acquisition
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Adjusted EBITDA(1) Bridge 2025 vs. 2024 Notes: 1. Adjusted EBITDA excludes non-recurring and non-cash expenses mainly associated with our bond issuance and respective extinguishm ent of former debt, withholding taxes associated with payments to bondholders, acquisition related costs and other non -recurring items Q3 2025 Adjusted EBITDA Bridge (US$M) 10 Adjusted EBITDA margin 34.2% 30.4% • Gross margin decreased 310 bps YoY to 42.7%, reflecting an unfavorable mix with higher installation revenue, record-high U.S. aluminum premiums, Colombian Peso FX revaluation on non- hedged local costs, higher labor from annual salary adjustments and the addition of Continental Glass personnel, partially offset by higher pricing • SG&A increased primarily driven by the impact of aluminum tariffs and higher transportation and commission expenses tied to sales growth; SG&A as a percent of revenues decreased 70 bps YoY to 18.2% • Q3’25 Adjusted EBITDA(1) lower 2.9% YoY to $79.1m, driven by less favorable mix, increased aluminum cost and stronger local currency. As a percentage of revenues, Adjusted EBITDA(1) decreased to 30.4% • Hedged large portion of Colombian Peso FX exposure for the rest of the year at rates ~9% better than 2024
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242.3 259.8 224.5 199.1 169.5 170.0 109.3 111.9 2.59x 2.29x 1.61x 0.76x 0.24x 0.13x -0.09x -0.04x -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 Q3'25 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 September 2025 giving effect to the $500 mm senior secured facility ($ in Millions) • Repurchased $30 mm of shares during the quarter; Board approved an increase in the share repurchase program to $150 mm • Liquidity(2) of ~$550 mm, including cash of $124 mm and $425 mm of availability under revolving credit facility • Refinanced Senior Secured Credit Facility in September 2025, expanding capacity to $500 mm, reducing spreads by 25 bps, and extending maturity to 2030 • Net debt / LTM Adj. EBITDA(1) at -0.04x, with no significant maturities until year-end 2030 following the five-year extension • New facility priced at the lowest tier of SOFR + 1.25%, down 25 bps from the prior spread • Significant financial flexibility to execute growth, invest in business and return cash to shareholders 11 Solid Net Leverage and Balance Sheet ($ in Millions) Strong Cash Flow Generation 138.8141.9 117.3 71.7 26.7 Operating Cash Flow 170.5 165.9 1.8 53.4 65.7 70.6 60.9 91.0 70.8 25.0 18.3 51.5 71.3 78.0 79.6 95.1 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 LTM Q3'25 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 Q2 2022 to Q2 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 Revenue $970 MM - $990 MM Adj. EBITDA $294 MM - $304 MM Full Year Outlook Q4 Assumptions • Assumes stable volumes on residential orders and slower than previously anticipated invoicing in light commercial construction • Continued downtrend in interest rates driving mortgage rates lower • FX headwind from stronger Colombian Peso YoY ,with Peso now below $4,000 for the rest of the year • Within commercial, higher mix of revenues with installation • Incorporates the effect of pricing adjustments for the second half of 2025, largely offsetting tariffs and all-time high aluminum costs • Updated gross margin at low to mid 40% range for the quarter and year, accounting for higher aluminum costs (LME & US Premiums) and stronger FX on unhedged portion of local costs • Healthy cash flow generation during the rest of the year • Based on current opportunities tied to geographical expansion and product diversification as well as continued backlog growth, expect to be able to drive double-digit revenue growth in 2026
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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 | November 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 | November 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 | November 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 | November 2025
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2025 2024 2025 2024 Net (loss) income 47,188 49,535 133,460 114,293 Less: Income (loss) attributable to non-controlling interest - - - - (Loss) Income attributable to parent 47,188 49,535 133,460 114,293 Foreign currency transactions losses (gains) (1,865) (870) (2,203) 4,858 Provision for bad debt 710 439 1,697 714 Non-Recurring expenses (non-recurring professional fees, capital market fees, other non-core items) 1,383 1,449 8,680 3,088 Extinguishment of debt 1,354 - 1,354 - Derivative Financial Instruments (2,727) - (2,727) - Joint Venture VA (Saint Gobain) adjustments 366 924 224 3,146 Tax impact of adjustments at statutory rate 249 (621) (2,248) (3,778) Adjusted net (loss) income 46,659 50,856 138,237 122,321 Basic income (loss) per share 1.01 1.05 2.84 2.43 Diluted income (loss) per share 1.01 1.05 2.84 2.43 Diluted Adjusted net income (loss) per share 1.00 1.08 2.94 2.60 Diluted Weighted Average Common Shares Outstanding in thousands 46,848 46,997 46,942 46,997 Basic weighted average common shares outstanding in thousands 46,848 46,997 46,942 46,997 Diluted weighted average common shares outstanding in thousands 46,848 46,997 46,942 46,997 2025 2024 2025 2024 Net (loss) income 47,188 49,535 133,460 114,293 Less: Income (loss) attributable to non-controlling interest - - - - (Loss) Income attributable to parent 47,188 49,535 133,460 114,293 Interest expense and deferred cost of financing 1,686 1,742 4,367 5,854 Income tax (benefit) provision 20,801 19,978 56,609 43,630 Depreciation & amortization 9,958 6,951 26,441 19,730 Foreign currency transactions losses (gains) (1,865) (870) (2,203) 4,858 Provision for bad debt 710 439 1,697 714 Non-Recurring expenses (non-recurring professional fees, capital market fees, other non-core items) 1,383 1,519 8,680 3,158 Extinguishment of debt 1,354 - 1,354 - Derivative Financial Instruments (2,727) - (2,727) - Joint Venture VA (Saint Gobain) EBITDA adjustments 628 2,145 1,417 4,367 Adjusted EBITDA 79,116 81,438 229,095 196,603 Nine months ended Sep 30, Sep 30, Three months ended Nine months ended Sep 30, Sep 30, Three months ended 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 | November 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 | November 2025 2024 2025 Short Term Debt and Current Portion of Long Term Debt 1,819 707 Long Term Debt 125,014 111,190 Gross Debt 124,656 111,897 Cash at the end of the period 122,090 123,991 Net Debt 2,566 (12,094) LTM Adjusted EBITDA 258,578 308,336 Net Debt / LTM Adjusted EBITDA 0.01x -0.04x As of Sep 30,