MRV Engenharia e Participações (MRVE3) Corporate presentation summary

Strategic evolution and business cycle

• Expanded from engineering to a diversified housing platform, including international operations and spin-offs.

• Business cycle phases: growth, stabilization, diversification, turnaround, and pursuit of operational excellence.

• Gross margin and cash generation fluctuated with market cycles, peaking during expansion and stabilizing during efficiency drives.

• Recent focus on turnaround and margin improvement through cost control and operational optimization.

• No new U.S. projects planned; focus on portfolio review and efficiency.

Financial and operational performance

• Net pre-sales projected to reach R$10 billion in 2025, with gross margin targets of 35% for new sales.

• Launches and built units expected to remain above 30,000 annually through 2026.

• Gross margin improved from 19.3% in 2022 to a projected 31% in 1Q26.

• EBITDA and net revenue are forecasted to grow steadily, supporting cash generation and profitability.

Margin expansion and cost optimization

• Margin equation driven by lower land costs, optimized product design, efficient execution, and price increases above inflation.

• Land costs as a percentage of net revenue are declining, aided by capital city acquisitions and land swaps.

• Product simplification and redesign reduced unit costs by up to R$5,000.

• Sequenced production and industrialization increased productivity and reduced capex.

• Price increases consistently outpaced inflation, with technology supporting dynamic pricing and sales conversion.