Motiva Infraestrutura de Mobilidade (MOTV3) investor relations material

Strategic vision and future ambitions

• Strategy emphasizes portfolio simplification, synergistic growth, and controlled risk, focusing on premium toll roads, rails, and selective airport assets, with value creation and capital recycling as key levers.

• 2035 ambition includes double-digit CAGR revenue growth, high single-digit adjusted EBITDA CAGR, and over 10% of total revenue from adjacent businesses, with double-digit ancillary revenue expansion.

• Efficiency targets accelerated: OpEx/net revenue ratio to reach 28% by 2035, with interim milestones of <38% in 2025, <35% in 2026, and <30% in 2030, driven by innovation and a simplified asset base.

• Over BRL 1 billion to be invested in innovation and sustainability by 2035, aiming for significant energy cost and carbon emission reductions, and increased social investment through Instituto Motiva.

• Commitment to zero net debt at the holding company, a 50% payout target, and maintaining an AAA credit rating.

Financial performance and capital allocation

• Adjusted EBITDA LTM (Jun/25) at BRL 9.3Bn (+7% YoY), with over 10% EBITDA growth in 1H25, a market cap of ~BRL 31Bn (Sep/25), and TSR of 53% YTD.

• Net debt/EBITDA at 3.7x (2Q25), with a 23% reduction in holding company net debt since Jun/23, extended debt duration to 5.6 years, and a comfortable cash position of BRL 6.6 billion.

• Largest infrastructure debenture (RiOSP - BRL 9.4Bn) issued, reducing debt cost spread by 1.1 p.p., and a clear 50% dividend payout policy, with yields between 2.6% and 3.3% over 2022-2024.

• Over 100 efficiency initiatives have reduced cash costs by BRL 200 million year-on-year, with further gains expected from technology and process improvements.

• Robust governance and capital allocation framework using FEL methodology, with a 43% success rate in premium asset acquisitions.

Operational excellence and innovation

• Over BRL 1Bn invested in innovation by 2035, targeting >20% IRR on projects, leveraging AI, automation, and digitalization across platforms.

• Efficiency levers include early achievement of OPEX targets, mechanized maintenance, cashless payments, and digital contract management.

• CAPEX execution improved, with 2025 expected to reach BRL 8.6 billion and over 80% of 2026 CapEx already contracted, ensuring predictability and risk control.

• Smart infrastructure initiatives in toll roads and rails: AI-powered traffic management, predictive maintenance, and eco-friendly materials, with free-flow tolling and digitalization enhancing safety and customer experience.

• Safety remains a top priority, with international benchmark targets for accident rates, LTIFR reduced to 1.1 by Jun/25, and significant investments in technology and training.