Armac Locação Logística e Serviços (ARML3) investor relations material

Executive summary

• Gross revenue reached R$586.2 million in 2Q26, up 19.3% year-over-year, with strong margin expansion and operational improvements across all business verticals.

• Record EBITDA of R$218.2 million (+54.5% YoY), with margin reaching 54.2%, driven by Recurring Services and Forklifts, and initial turnaround in Rental.

• Asset sales surged 93.8% year-over-year to R$145.2 million, supporting cash flow and network expansion.

• Company is organized into four verticals: Recurring Services, Rental, Forklifts, and Terram, each with independent leadership and tailored strategies.

• Strategic focus on recurring revenue streams, diversified exposure to resilient sectors, and disciplined capital allocation.

Financial highlights

• Adjusted EBITDA from leasing and services was R$217 million (+37.1% YoY), with margin at 54.1%; adjusted consolidated ROIC reached 17.3%.

• Net income was R$7.7 million, with net margin at 1.4%; adjusted net income reached R$10.1 million.

• Net debt stood at R$2.20 billion, with net debt/EBITDA at 2.50x; cash and equivalents were R$935.1 million.

• Operational and managerial cash flow exceeded R$369.8 million in 1H26, with free cash flow at R$424.2 million in 2Q26.

• CAPEX in 2Q26 was R$465.0 million (+94.6% QoQ), with R$216.8 million in cash outflows due to improved supplier terms.

Outlook and guidance

• Growth expected to continue, with focus on sustainable expansion, margin improvement, and deleveraging, especially in Rental and Recurring Services.

• Asset sales stores to reach 32 by year-end, supporting negative net cash CapEx and future deleveraging.

• M&A will continue to contribute about 30% of total growth, with organic growth remaining strong.

• Tax reform and market formalization expected to drive long-term rental market productivity and consolidation.

• Company targets doubling in size every 4-5 years, balancing growth and cash flow discipline.