Cury Construtora e Incorporadora (CURY3) Institutional presentation summary

Market position and strategy

• Leading homebuilder focused on São Paulo and Rio de Janeiro, with over 60 years of experience and a comprehensive product portfolio in social housing.

• Maintains a unique financial profile with high growth, strong margins, and robust returns, consistently achieving high ROE and payout ratios.

• Strategic landbank acquisition and project launches with pre-approved financing support rapid execution and cash generation.

• Focuses on efficient engineering, flexible construction methods, and a best-in-class sales force to maximize unit sales during construction.

• High dividend payout policy and commitment to operating in the most profitable metropolitan markets.

Financial and operational performance

• Achieved a PSV CAGR of 32% and net income CAGR of 32% from 2019 to 2026, with total net income of R$3.6 billion projected for the period.

• Maintains strong gross margins (above 35%) and net margins (above 15%) over recent years.

• Net debt remains negative, indicating a net cash position, with a robust cash generation model supported by the MCMV program.

• ROIC consistently above 25%, reflecting operational efficiency and capital discipline.

• Dividend payout ratios frequently exceed 70%, with total dividends distributed reaching R$3.3 billion from 2019 to 2026.

Landbank and geographic focus

• Landbank valued at approximately R$26.1 billion, with around 84,000 units, primarily in São Paulo (R$19.2 billion, 62.8k units) and Rio de Janeiro (R$6.8 billion, 21.2k units).

• Land acquisition process is structured and disciplined, with purchases through financial exchange or cash and recognition only after deed registration.

• Geographic diversification within SP and RJ, with launches distributed across multiple city zones and regions.

• Expansion potential in urban intervention areas, especially in São Paulo's Arco Tietê and Rio's North Zone.