Cyrela Brazil Realty S.A. (CYRE3) investor relations material

Executive summary

• Net income reached BRL 2,007 million in 2025, up 22% year-over-year, with record dividend payments of BRL 1.4 billion.

• 2025 saw BRL 9.4 billion in net revenue and BRL 13 billion in launches, with operations remaining healthy despite higher capital costs and a tough comparison base.

• Record launches and pre-sales drove strong performance, with 21 projects launched in 4Q25 and 74 in the year.

• Delivered 20 projects in 4Q25 (PSV BRL 2,915 million) and 52 projects in 2025 (PSV BRL 7,837 million).

• Despite high interest rates and a challenging environment, the company maintained solid operational performance and disciplined capital allocation.

Financial highlights

• Net revenue was BRL 3,235 million in 4Q25 (+29% YoY) and BRL 9,423 million in 2025 (+18% YoY).

• Gross margin stood at 32.3% in 4Q25 and 32.6% for the year.

• Net income for the year was BRL 2,007 million (+22% YoY), with Q4 net income at BRL 682 million (+37% YoY).

• ROE for 2025 was 22.3%.

• Net debt to equity stood at 21.5% at year-end.

Outlook and guidance

• No reduction in launches planned despite higher inventory and a more moderate sales over supply (SOS) compared to previous years.

• Revenue to be recognized increased to BRL 11.5 billion in Q4 2025, indicating strong future revenue potential.

• POC revenue expected to rise to BRL 5.5–6 billion in 2026.

• Management aims to sustain high ROE and maintain operational efficiency amid ongoing market challenges and high interest rates.

• Forward-looking statements are subject to market, regulatory, and economic risks.