Even Construtora e Incorporadora (EVEN3) BofA Securities Real Estate Conference Presentation summary

Key financial indicators

• Launches totaled R$694 million in 6M26, down 60% year-over-year.

• Net sales reached R$408 million in 6M26, a 41% decrease from 6M25.

• Adjusted gross margin improved by 7.5 p.p. to 33.4% in 6M26.

• Net income dropped 40% to R$77 million in 6M26.

• ROE LTM stood at 11.1% in 2T26.

Operational performance

• One project delivered in 2T26, totaling R$122 million VGV and 153 units.

• Inventory at market value was R$3.5 billion, with 8.3% completed and 91.7% under construction.

• 80% of 2026 deliveries already sold; luxury/high-end segment dominates inventory.

• Landbank valued at R$5.3 billion, with 84% in luxury/high-end segments.

Upcoming launches

• Pipeline includes high-end projects in prime São Paulo neighborhoods, with VGVs ranging from R$49 million to R$405 million per project.

• Projects in development include ESA Itaim, República do Líbano Moema, Primavera Jardins, Janô Itaim Bibi, and Praça Morungaba Jardins.