Trisul (TRIS3) investor relations material

2025 overview

• 2025 launches reached R$2.9bn, gross sales R$1.8bn, deliveries R$786mn, net revenue R$1.4bn and net income R$213mn; ROE was 14.4%.

• More than 40 years of experience, 350+ projects and 60,000+ units delivered; operations focused in São Paulo city.

• 2025 launches were 2.1x 2024 volume; record net income of R$213mn was achieved with 14.4% ROE.

Market and operating model

• São Paulo has 11.5mn inhabitants; the state represents 30.2% of national GDP and GDP per capita is R$66.9k/year.

• The Strategic Master Plan supports densification along transit corridors; ZEUS expands buildable potential, while MCMV updates broaden credit access.

• MAP serves mid- and high-end buyers with differentiated projects; ELEV targets the affordable segment with standardized, efficient products.

• ELEV has 17+ years in the affordable segment and 14,000+ units launched; products serve MCMV Tiers 2–4 and investors.

• ELEV’s CEF appraisal, construction financing and mortgage-transfer process, combined with FGTS associative credit, is designed to improve cash predictability and capital efficiency.

Differentiators and growth plans

• Vertically integrated operations span land sourcing, product development, approvals, sales, construction and delivery, supported by in-house engineering and sales teams.

• Landbank PSV was R$6.8bn in Jun/26, with 55% in MCMV; ~R$3.1bn was MAP and ~R$3.7bn affordable-segment landbank.

• Land acquisition prioritizes São Paulo’s South, West and East zones, with at least 30% of acquisitions targeted through land swaps.

• Target is for ELEV to reach 50% of PSV by 2027; construction will focus solely on own projects, with expansion into funds and other sales channels.

• In 1H26, affordable launches represented 39% of PSV, up from 25% in 2025.