Bradespar (BRAP3) Investor Presentation summary

Company overview

• Investment company with R$9.0 billion in market cap as of April 2025, focused on modern corporate governance and value generation for shareholders.

• Controlled by the same group as Banco Bradesco, with 77.9% voting control and 71.9% total shares in free float.

• Listed on B3 and Latibex, with a Fitch AAA (bra) long-term credit rating.

Investment portfolio and performance

• Main asset is a 3.83% stake in Vale, valued at R$9.0 billion market cap and R$8.2 billion book value as of end 2024.

• Vale's 2024 results: net revenue R$38.1B, adj. EBITDA R$14.8B, net income R$6.2B, all declining year-over-year.

• Bradespar's 2024 operating revenue was R$1.2B, with a positive financial result of R$57.6M and no financial debt.

Financial highlights

• Total assets at end 2024: R$8.6B; shareholders' equity: R$8.5B.

• Paid R$792M in dividends and interest on capital in 2024; R$450M in dividends and R$80M in JCP to be paid in May 2025.

• Maintains a policy of regular shareholder remuneration and has a history of significant dividend payments.