Tegma Gestão Logística (TGMA3) investor relations material

Executive summary

• Net revenue in 3Q25 rose 5% year-over-year to R$634 million, driven by higher delivery distances, tariff adjustments, and growth in used vehicle logistics, despite Toyota's production halt impacting volumes.

• Environmental initiatives included a pilot project converting diesel trucks to hybrid diesel/CNG, reducing emissions by 35%.

• Tegma became the official logistics operator for Omoda & Jaecoo, supporting their rapid sales growth in Brazil.

• Distributed R$63.9 million in dividends and interest on equity, with an 80% payout and 8.2% dividend yield over the last 12 months.

• Acquired a 200,000 m² land plot in Camaçari-BA for R$40 million to expand operational capacity.

Financial highlights

• Consolidated net revenue in 3Q25 was R$634 million, up 5% year-over-year; 9M25 net revenue reached R$1.615 billion, up 10%.

• EBITDA in 3Q25 was R$116.8 million (18.4% margin), down 2.4 p.p. year-over-year due to margin declines and higher costs.

• Net income for 3Q25 was R$80 million, down 5% year-over-year, with a net margin of 12.6%.

• Free cash flow in 3Q25 was R$15 million, lower than Q3 2024 due to higher capex and advance land payment.

• Dividend yield over the last 12 months was 8.2%.

Outlook and guidance

• Market share is expected to recover with new contracts (Omoda & Jaecoo, BYD) and strategic land acquisition near BYD's plant.

• Management expects Toyota's production halt to have a net negative effect, though partially offset by other automakers.

• Continued growth in the north and northeast regions is anticipated to positively impact margins.

• Dividend distribution remains above the minimum policy, with a strong yield.

• Payout policy remains aggressive, with future levels dependent on cash generation and M&A activity.