Direcional Engenharia (DIRR3) investor relations material

Executive summary

• Achieved record quarterly performance with BRL 2.1 billion in launches and BRL 2.0 billion in gross sales for 2Q26, net revenue of BRL 1.3 billion, and over 5,500 new units launched, despite seasonal and macroeconomic headwinds.

• Maintained strong operational efficiency with adjusted gross margin at 42.8% and annualized ROE at 35%.

• Cash generation prioritized, with record operational cash inflows in June and July, supporting deleveraging and potential shareholder returns.

• Strategy focused on sales velocity (VSO), cash generation, and disciplined capital allocation, with launches guided by demand and inventory tightly managed.

Financial highlights

• Net revenue for 2Q26 was BRL 1.3 billion, up 20% year-over-year and 10% sequentially; 1H26 net revenue totaled BRL 2.4 billion, up 25% year-over-year.

• Adjusted gross profit reached BRL 548 million, up 23% year-over-year, with adjusted gross margin at 42.8%.

• EBITDA was BRL 311 million, up 27% year-over-year, with an EBITDA margin of 24.3%. Adjusted EBITDA was BRL 348 million, margin 27.2%.

• Net income for 2Q26 was BRL 202 million, up 10% year-over-year; 1H26 net income was BRL 415 million, up 19%.

• Leverage ratio (net debt-to-equity) was 18.0%, down 6 p.p. sequentially, with net debt at BRL 492 million and cash and equivalents at BRL 2.4 billion.

Outlook and guidance

• Management expects cancellation rates to normalize in coming quarters as the impact of discontinued state programs subsides.

• Launches and sales to remain robust, with VSO targeted at or above 23%, and launches paced to match demand.

• Continued focus on operational efficiency, disciplined pricing, and cost control to sustain profitability.

• Ongoing expansion into new markets, including entry into Rio Grande do Norte via joint venture.