Irani Papel e Embalagem (RANI3) Investor presentation summary

Market position and growth drivers

• Operates as a pure play in the Brazilian packaging sector, listed on B3's Novo Mercado, with 85 years of experience and over 2,100 employees.

• Holds a market cap of approximately BRL 1.8 billion, with 92% of net revenue from the domestic market and a focus on sustainable packaging and paper.

• Addressable market in 2025 is BRL 39.4 billion, with the broader Brazilian packaging market at BRL 165.7 billion.

• Demand for sustainable packaging is driven by food production, e-commerce growth, and global regulatory shifts away from plastics.

• Brazil is the 6th largest producer of corrugated board globally, with consistent market growth and potential for increased per-capita consumption.

Competitive advantages and sustainability

• Maintains modernized plants, in-house renewable energy generation, and owns forests, supporting operational efficiency.

• Strategy is guided by sustainability, with 100% renewable energy use, 98% renewable raw materials, and 97% waste diversion from landfill.

• Recognized for governance, transparency, and social responsibility, including diversity and inclusion initiatives.

• Fiber-based packaging outperforms alternatives in cost, protection, recycling, and climate impact.

Investment and expansion strategy

• Gaia Platform, funded by a BRL 405 million Re-IPO, is a multi-phase modernization and expansion plan totaling BRL 1.8 billion through 2028.

• Gaia XII Project expands production capacity by 60% and reduces CO2 emissions by 85% at the Papel MG unit.

• Neos Platform (2026–2034) targets further growth, including new packaging plants and paper machines, aiming to double market share to 8% by 2034.

• Expansion is funded through cash generation and debt, with leverage kept below 2.5x.