Aeris Indústria e Comércio de Equipamentos para Geração de Energia (AERI3) investor relations material

Executive summary

• Global wind power installations reached a record 165 GW, with China contributing 73%, but future growth is expected to shift toward Europe and North America due to energy security needs and infrastructure expansion.

• 1Q26 results reflect continued industry headwinds, with lower volumes and underutilized production capacity; only two mature production lines operated, with plans to reactivate four more as demand recovers.

• Net operating revenue in 1Q26 was R$105.6 million, down 7.8% from 4Q25 and 49.8% YoY, reflecting weak domestic demand partially offset by export growth.

• Net loss for the quarter was R$138 million, a significant improvement versus the R$477.5 million loss in 4Q25.

• 1.4 GW of wind blade supply contracts secured for 2026/2027, with a 0.7 GW pipeline under negotiation.

Financial highlights

• Net revenue reached R$106 million in 1Q26, down 7.8% sequentially and 47.1% year-over-year.

• Adjusted EBITDA was negative R$27.5 million (margin -26%), but improved by R$33 million sequentially.

• Net loss totaled R$138 million for the quarter; investments were limited at R$0.7 million.

• Operating expenses fell 39.7% quarter-over-quarter, aided by cost reductions and absence of prior non-recurring impairment.

• Export revenues grew 19%, partially offsetting domestic weakness; domestic blade sales dropped 96.8% YoY, while international blade sales rose 237.6% YoY.

Outlook and guidance

• Gradual recovery in demand expected from 2027, with phased reactivation of four production lines and production volumes projected to exceed 500 blades.

• Pipeline includes 1.4 GW in blade supply agreements for 2026/2027 and 0.7 GW in new contracts under negotiation.

• Profitability expected to improve as volumes rise and new contracts with better margins are executed, especially in export markets.

• No specific cash flow guidance provided, but management expects operational improvements in the second half of 2026.

• U.S. market remains active, and regulatory/macroeconomic conditions in Brazil are gradually improving.