São Martinho (SMTO3) investor relations material

Executive summary

• Achieved strong revenue and EBITDA growth, with net revenue reaching BRL 7.44 billion and Adjusted EBITDA at BRL 3.5 billion, driven by higher sales volumes, operational efficiency, and expanded acreage from Santa Elisa acquisition.

• Net income for the year was BRL 836.2 million, up 50.2% year-over-year, supported by robust sugar and ethanol sales and improved industrial efficiency.

• Strategic investments included the merger of Nova Egito, acquisition of Santa Elisa's biological assets, and expansion in corn ethanol and biomethane.

• Audited financial statements for the year ended March 31, 2026, received an unqualified opinion from independent auditors.

• Recognized for workplace safety, innovation, and mental health initiatives.

Financial highlights

• Net revenue for 4Q26 was BRL 2.24 billion, up 29% year-over-year; full-year net revenue was BRL 7.44 billion, up 3.3%.

• Adjusted EBITDA for 4Q26 was BRL 1.09 billion (+41.9% YoY), margin 48.8%; full-year Adjusted EBITDA was BRL 3.5 billion (+1.7% YoY), margin 47.1%.

• Net income for 4Q26 was BRL 172.9 million (+64.6% YoY); full-year net income was BRL 836.2 million (+50.2% YoY).

• Gross margin for the year was 26.2%, up from 24.9% year-over-year.

• Net debt/LTM EBITDA improved to 1.41x as of March 2026.

Outlook and guidance

• Sugarcane crushing for 2026/27 projected at 23.65 million metric tons (+7.9%), with TRS production of 3.37 million metric tons (+10.7%).

• Corn processing expected to decrease 5% to 495,000 metric tons due to plant interconnection and maintenance, with efficiency gains targeted.

• Total Capex guidance for 2026/27 is BRL 2.95 billion (+5.1%), focused on modernization, corn ethanol expansion, and production growth.

• Ongoing investments in irrigation, production expansion, and corn ethanol capacity scheduled for completion in 2027.

• Tax reform impacts are pending further regulation and are not expected to affect current results.