Motiva S.A. - Results for the 1st quarter of 2025

OPERATIONAL AND FINANCIAL HIGHLIGHTS (R$ MM)

1Q24

1Q25

Var. %

Consolidated Adjusted Net Revenue¹

3,479

3,728

7.2 %

Consolidated Adjusted EBITDA¹

2,066

2,356

14.0 %

Adjusted EBITDA - Toll Roads

1,535

1,707

11.3 %

Adjusted EBITDA – Rails

477

585

22.5 %

Adjusted EBITDA – Airports

275

303

10.5 %

Adjusted EBITDA – Others

(220)

(240)

9.0 %

Consolidated Adjusted EBITDA Margin²

59.4 %

63.2 %

3.8 p.p.

Adjusted Net Income¹

449

539

20.2 %

Net Debt/LTM Adjusted EBITDA (x)

3.0

3.6

0.6 p.p.

Toll Roads - Vehicle Equivalents (million)

301.1

304.1

1.0 %

Rails - Passengers Transported (million)

175.9

181.7

3.3 %

Airports – Total Passengers (million) ⁴

9.6

10.3

7.2 %

CAPEX³

1,251

1,356

8.4 %

1. Excludes construction revenue and costs. Adjustments are described in the "non-recurring effects" section in Exhibit I (page 26).

2. The adjusted EBITDA margin was calculated by dividing adjusted EBITDA by adjusted net revenue.

3. Includes improvement works that do not generate future economic benefits for ViaOeste.

4. Starting in 1Q25, all airport operational data in this release will be presented as total passengers, instead of boarded passengers (which only includes revenue-generating passengers)