Rumo (RAIL3) investor relations material

Executive summary

• Achieved record first-quarter transported volume of 20.2 billion RTK, up 25% year-over-year, led by Northern Operations with 27% growth and market share gains in all key markets, including a 12 p.p. increase at the Port of Santos.

• Adjusted EBITDA rose 7% to BRL 1,745 million, with adjusted net income increasing 41% to BRL 266 million, reflecting operational improvements and cost efficiencies.

• Market share gains across all main markets, notably in Mato Grosso (38%, +2pp), Goiás (33%, +9pp), Port of Santos (57%, +12pp), and +12pp at Paranaguá and São Francisco do Sul ports.

• Investments totaled BRL 1,774 million, aligned with expansion plans, notably nearing completion of the Mato Grosso Railway phase one, with operations set to begin in 3Q26.

• Maintained operational efficiency with improved fuel consumption (-6%) and stable transit times.

Financial highlights

• Consolidated net revenue reached BRL 3,282 million, up 11% year-over-year, driven by higher transported volumes.

• Adjusted EBITDA margin reached 53.2%, while adjusted net margin improved to 8.1%.

• Net financial results were negative BRL 846 million due to higher net debt and CDI rates.

• Net debt at quarter-end was BRL 16.9 billion, with financial leverage at 2.1x.

• Cash position of BRL 5.9 billion and BRL 2.7 billion in undrawn credit lines.

Outlook and guidance

• Operations in new Mato Grosso Railway assets to begin in 3Q26, enhancing service to Brazil’s agribusiness core.

• CapEx for 2026 expected to be between 2024 and 2025 levels, front-loaded in the year, aligned with the delivery of phase I of the Mato Grosso rail project.

• No major surprises anticipated for 2026; focus remains on operational efficiency, cost reduction, and capital allocation.

• Positive outlook for second half of 2026, with strong crop prospects and ongoing capacity contracting.

• Brazilian 2025/2026 soybean and corn crops expected to remain robust, supporting continued high transport volumes.