Ultrapar (UGPA3) Investor Day 2025 summary

Strategic Direction and Portfolio Evolution

• The portfolio was diversified through acquisitions in logistics and energy, including the integration of Hidrovias do Brasil and investments in new energy solutions and infrastructure.

• Portfolio review since 2021 led to divestments (Oxiteno, Extrafarma, ConectCar) and capital reallocation to core and growth areas, including new energies and logistics.

• Disciplined capital allocation with a minimum 20% ROI target for new investments; over 85 M&A opportunities evaluated, with eight completed since 2021.

• Significant leadership renewal, with almost half of senior positions changed, new incentive models, and a focus on internal talent development.

• Enhanced governance and simplified management structures to enable faster, more responsible decision-making and support long-term growth.

Business Unit Performance and Operational Excellence

• Ipiranga doubled EBITDA in recent years, advanced logistics efficiency, expanded its premium product mix, and innovated with new business models and partnerships.

• Ultragaz leads in retail LPG, expanded digital channels, invested in renewable energy solutions, and improved operational efficiency and service levels.

• Ultracargo expanded storage capacity by 44% since 2019, executed geographic expansion, and increased installed capacity by 16% from 2024 to 2026.

• Hidrovias do Brasil began a new growth cycle, optimized its asset base, and launched modular and structural expansion projects to capture logistics demand.

• Over 1,165 operational efficiency projects were implemented, including robotics, unified management systems, and advanced analytics, resulting in significant cost reductions and productivity gains.

Safety and ESG Integration

• Safety remains a non-negotiable value, with improved lost-time injury rates and ongoing investments in training, technology, and process optimization.

• ESG strategy was updated with a new materiality matrix, climate risk integration, and participation in leading sustainability indexes.

• Investments in education and social projects impacted 1.8 million people, aligning business growth with positive societal outcomes.