Irani Papel e Embalagem (RANI3) Investor presentation summary

Strategic positioning and business overview

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

• Main revenue streams are sustainable corrugated packaging (61.7% of net revenue) and packaging paper (37.5%), with a strong domestic market focus.

• Holds a 4.1% market share in corrugated boxes and 4.7% in packaging paper, serving primarily the food industry.

• Owns and manages 37,270 hectares of land, ensuring secure supply of long fiber wood and above-average forest productivity.

• Integrated value chain from forest to market, with 69% of raw material from recycled fibers and 99% from renewable sources.

Financial performance and capital allocation

• LTM 2Q26 net revenue reached BRL 1.7 billion, adjusted EBITDA BRL 518.4 million, and market cap BRL 1.8 billion.

• Dividend yield stands at 6.6%, with a policy of distributing 50% of net income since the Re-IPO.

• Maintains leverage below 2.5x Net Debt/EBITDA, supporting growth and value creation.

• Raised BRL 405 million in the 2020 Re-IPO to fund the Gaia Platform, the largest investment plan in its history.

• Total shareholder return since the Re-IPO is 81.1%, outperforming IBOV and SMLL indices.

Investment and growth strategy

• Gaia Platform (2020–2028) involves BRL 1.8 billion in 12 projects to modernize facilities, increase capacity, and boost efficiency.

• Gaia XII Project will expand Paper MG unit, increasing PM #7 output by 60% and reducing CO2 emissions by 85%.

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

• Investment timing is disciplined, with leverage and cash generation guiding execution.