Unipar Carbocloro (UNIP6) investor relations material

Executive summary

• Navigated a challenging petrochemical cycle with compressed margins from falling PVC prices and rising ethylene costs, offset by a resilient business model, cost reduction initiatives, and focus on local markets and chemicals over PVC.

• Achieved operational excellence with full capacity at the Camaçari plant and recovery in Argentina post-weather events, with a consolidated capacity utilization rate of 80%.

• Fixed cost reduction initiatives and increased clean energy self-generation contributed to operational resilience.

• Strategic focus on chemicals and domestic market sales supported performance.

Financial highlights

• Recurring adjusted EBITDA reached R$306 million in 2Q25, up 110% year-over-year, with a margin of 23%; including arbitration gains, EBITDA was R$389–402 million with a 31% margin.

• Net income for 2Q25 was R$232 million, up 161% year-over-year; 1H25 net income totaled R$382 million, up 163%.

• Operating cash flow was R$526 million in 2Q25, compared to R$158 million in 2Q24.

• Net revenue in 2Q25 was R$1,274 million, up 2% year-over-year but down 7% sequentially.

• CapEx for the quarter was R$237 million, with R$208 million allocated to Cubatão modernization.

Outlook and guidance

• Modernization of the Cubatão plant is on schedule, with operations expected to start by end-2025 and normalization in 2026.

• Ongoing focus on operational efficiency, cost control, and cautious capital allocation amid volatile industry conditions.

• Strategic CAPEX aligned with ESG best practices and future competitiveness.