Ferbasa (FESA4) investor relations material

Executive summary

• Report covers 1Q26 results, highlighting a challenging quarter with a net loss, lower sales, and ongoing market headwinds.

• Net revenue fell 16% sequentially and 7.9% year-over-year, driven by lower sales volumes and a weaker dollar.

• Adjusted EBITDA rose sharply from 4Q25 but was down 27.8% year-over-year.

• Net loss of R$2.4 million, reversing a net profit of R$99.8 million in 4Q25.

Financial highlights

• Net revenue: R$506.4 million in 1Q26, down 16% from 4Q25 and 7.9% from 1Q25.

• Adjusted EBITDA: R$44.1 million, up 925.6% sequentially but down 27.8% year-over-year.

• Net loss: R$2.4 million (margin -0.5%), compared to net profit of R$99.8 million (margin 16.6%) in 4Q25.

• Cost of goods sold: R$458.6 million, down 15.2% sequentially and 3.6% year-over-year.

• Net cash position: R$731 million at quarter-end, up R$12.6 million from 4Q25.

Outlook and guidance

• Ongoing global protectionist measures and tariffs continue to impact exports, especially to the US and EU.

• Uncertainties remain due to global logistics, energy prices, and geopolitical tensions.

• Company remains flexible in product allocation between domestic and export markets.