EcoRodovias Infraestrutura e Logística (ECOR3) Company presentation summary

Corporate structure and geographic footprint

• Operates 22 toll road concessions across 6,200 km in Italy and Brazil, with a strong presence in Brazil's main trade corridors and 12 highway concessions plus one port asset.

• Generated €4.6 billion in total revenue in 2025, with a diversified shareholder base including Ardian Infrastructure and a B3-listed free float.

Financial and operational performance

• Adjusted net revenue reached R$7.6 billion and adjusted EBITDA R$5.7 billion in the last 12 months ending June 2026, with net income of R$519 million.

• EBITDA margin consistently above 70% from 2023 to 2025, with a CAGR of 24.4% for EBITDA and 20.7% for net revenue from 2021 to 2025.

• Net debt stood at R$23.5 billion with a leverage ratio of 4.1x as of June 2026; 77% of gross debt is inflation-indexed and 72% allocated to highway concessions.

Growth strategy and project pipeline

• Selective growth extended portfolio duration from 10 to over 20 years, adding 8 assets in 9 years and focusing on execution, efficiency, and innovation.

• Pipeline includes federal projects with capex up to R$15.7 billion and IRRs ranging from 9.2% to 12.7%.