Aeris Indústria e Comércio de Equipamentos para Geração de Energia (AERI3) investor relations material

Executive summary

• Net revenue in 2Q26 reached R$129.3 million, up 22.4% from 1Q26, but 1H26 revenue fell 48.1% year-over-year due to weak domestic demand and fewer new contracts.

• Operational recovery is underway, with increased production, improved gross margin, and reactivation of four production lines to support new contracts.

• Adjusted EBITDA in 2Q26 was negative R$12.4 million, a significant improvement from 1Q26, with margin improving from -25.9% to -9.6%.

• Net loss in 2Q26 was R$152.0 million, up 10.2% sequentially, mainly due to higher financial expenses.

• The company maintains a 2.0 GW contracted pipeline for 2026/2027 and 0.5 GW in negotiation, reflecting market confidence.

Financial highlights

• Net operating revenue reached R$129.3 million in 2Q26, up 22.4% from 1Q26.

• Gross margin in 2Q26 improved to 7.6% from -12.6% in 1Q26, aided by higher volumes and non-recurring ramp-up fees.

• Adjusted EBITDA for 2Q26 was negative R$12.4 million, with margin at -9.6%.

• Net financial expenses in 2Q26 totaled R$114.0 million, up 18.8% sequentially.

• Investments in 2Q26 totaled R$23.9 million, mainly for reactivating production lines.

Outlook and guidance

• Gradual operational recovery expected as reactivated lines mature and contracted volumes increase.

• Market outlook remains positive, with 19.1 GW of registered projects in Brazil and 3.8 GW at an advanced stage.

• Sustained demand in North America for 2026/2027 provides visibility and supports diversification strategy.

• Operational ramp-up and contract execution are expected to drive further improvements in volumes and profitability.

• No specific EBITDA margin guidance disclosed; management expects continued margin recovery as production ramps up.