Ferbasa (FESA4) investor relations material

Executive summary

• Reported a net loss of R$2.4 million in 1Q26, reversing a profit of R$99.8 million in 4Q25.

• Adjusted EBITDA rose to R$44.1 million in 1Q26 from R$4.3 million in 4Q25, but was down 27.8% year-over-year.

• Net cash position increased to R$731 million, up R$12.6 million from 4Q25.

• Net revenue fell 16% sequentially and 7.9% year-over-year, mainly due to lower sales volumes and a weaker dollar.

• Sales volume declined 13.5% sequentially, with exports down 18.8% and domestic shipments down 8.6%.

Financial highlights

• Consolidated net revenue for 1Q26 was R$506.4 million, down 16% from 4Q25 and 7.9% from 1Q25.

• Adjusted EBITDA margin improved sequentially despite lower sales and revenue, reaching 8.7% in 1Q26.

• Financial result decreased 52.9% sequentially, reflecting lower financial revenue and negative currency effects.

• Cost of goods sold was R$458.6 million, down 15.2% sequentially and 3.6% year-over-year.

• CAPEX was R$40.6 million in 1Q26, down 4.5% year-over-year and 63.7% sequentially.

Outlook and guidance

• R$140 million in dividends to be distributed in June 2026, reinforcing regular payout policy.

• Ongoing global protectionist measures and tariffs continue to impact exports, especially to the US and EU.

• Uncertainties remain due to global logistics, energy prices, and geopolitical tensions.

• Strategic focus on self-sufficiency in bioreducer, new mineral asset research, and innovation.

• Company remains flexible in product allocation between domestic and export markets.