Tegma Gestão Logística (TGMA3) investor relations material

Executive summary

• Net revenue increased up to 37% year-over-year in Q2/H1 2026, driven by higher vehicle transport volumes, longer average distances, and new integrated/container logistics services, despite the loss of a bulk transport contract in 2Q25.

• Dividend payout of BRL 1.14 per share was approved, representing a 62% payout ratio and 3.8% yield, with payment in August 2026 and a record date in early August.

• Board approved BRL 30 million in yard investments near BYD and Pecém factories to meet rising demand for yard management and warehousing, supporting new container logistics service launches.

• Successfully managed complex unloading and transport of nearly 12,000 BYD vehicles at Port of Itajaí, highlighting operational efficiency and flexibility.

• Net income performance varied: up 24% YoY in Q2 2026, up 10% in H1 2026, but also reported an 11% YoY decline in one summary due to non-recurring indemnity and higher financial expenses.

Financial highlights

• Net revenue reached up to BRL 1.26 billion in H1 2026 and BRL 740 million in Q2 2026, with YoY growth rates between 28% and 37%, mainly from automotive logistics and new contracts.

• Adjusted EBITDA grew up to 46% YoY in Q2 2026, with margin improvement, though some margin contraction was noted due to lower yard revenue and cost pass-through mismatches.

• Net income increased 24% YoY in Q2 2026 and 10% in H1 2026, but margin contracted by 1.2 p.p. due to lower equity income and higher financial expenses.

• Free cash flow was negative BRL 1 million in Q2 2026, mainly due to working capital consumption from revenue growth.

• Dividend payout ratio at 62%, with a total payout of BRL 75 million.

Outlook and guidance

• Full impact of tariff adjustments for main customers expected in Q3 2026, supporting future margin improvement.

• Management highlights ongoing investments to expand logistics capacity and meet rising demand, especially in the automotive sector.

• Dividend distribution policy remains above the minimum 50% of adjusted net income.

• Management remains focused on operational leverage, margin stabilization, and value generation through EVA and ROIC metrics.

• No material changes in accounting standards or policies expected to impact future results.