MRV Engenharia e Participações (MRVE3) Corporate Presentation summary

Strategic evolution and business cycles

• Expanded from a single business to a diversified housing platform, including international operations and multiple subsidiaries over 46 years.

• Business cycles included rapid growth, stabilization, diversification, and a recent turnaround with renewed focus on core operations.

• Recent years saw a shift to a more asset-light, efficient, and focused strategy, reducing geographic complexity and subsidiary investments.

• Current vision targets 40,000 units/year, 35% gross margin on new sales, and R$10B net revenue.

• Operational improvements include SKU rationalization, production flow optimization, and land bank reduction.

Market context and housing ecosystem

• Brazil's affordable housing remains a national priority, with the Minha Casa Minha Vida (MCMV) program consistently supported across administrations.

• MCMV has financed 7.2 million units, benefiting 25.5 million people, with ongoing enhancements to increase affordability and access.

• State and municipal programs complement federal efforts, with about 25% of sales benefiting from regional subsidies.

• Recent MCMV updates include higher subsidies, lower interest rates, expanded income brackets, and a new bracket for higher-income families.

• The program's strength is reinforced by robust funding from FGTS and SBPE, supporting long-term growth.

Operational and financial performance

• Net pre-sales reached R$10B in 2024, with net revenue of R$8.5B and EBITDA of R$1.1B.

• Gross margin improved to 27% in 2024, with further gains expected from cost control and operational efficiency.

• Land bank capital allocation reduced by R$230M in 2024, targeting R$1B by 2029.

• Sales funnel efficiency increased, with higher lead generation and conversion rates, and MRV ranked as the top-of-mind brand in its segment.

• Debt metrics improved, with net debt/EBITDA down to 1.11x by 3Q25.