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Motiva - Results for the 3rd quarter of 2025

Published on Thu 30 Oct 2025 0:00:27 UTC

SO PAULO, Oct. 29, 2025 /PRNewswire/ --

Highlights

  1. On July 04, 2025, the Amendment atSPVias was signed, resulting in the extension of the concession term by 73 days;
  2. On August 01, 2025, the Company signed an amendment to modernize theMotiva Pantanal contract;
  3. On September 26, 2025, the Amendment atViaQuatro was signed, resulting in the extension of the concession term by 20 years;
  4. Cash OPEX/Adjusted Net Revenue LTM was 38.3% in 3Q25.

Consolidated Operational and Financial Highlights


OPERATING AND FINANCIAL HIGHLIGHTS
(R$ M)

3Q24

3Q25

Var. %

9M24

9M25

Var. %

Consolidated Adjusted Net Revenue

3,782

3,957

4.6%

10,748

11,249

4.7%

Consolidated Adjusted EBITDA

2,190

2,547

16.3%

6,265

6,997

11.7%

Adjusted EBITDA - Toll Roads

1,621

1,979

22.1%

4,653

5,222

12.2%

Adjusted EBITDA - Railways

571

588

3.0%

1,561

1,751

12.2%

Adjusted EBITDA - Airports

274

314

14.6%

793

912

15.0%

Adjusted EBITDA - Others

(276)

(334)

21.0%

(742)

(888)

19.7%

Consolidated Adjusted EBITDA Margin

57.9%

64.4%

6.5 p.p.

58.3%

62.2%

3.9 p.p.

Adjusted Net Income

560

683

22.0%

1,420

1,620

14.1%

ROE3

11.4%

18.0%

6.6 p.p.

11.4%

18.0%

6.6 p.p.

ROIC3

6.6%

11.0%

4.3 p.p.

6.6%

11.0%

4.3 p.p.

Net Debt/LTM Adjusted EBITDA (x)

3.1

3.6

0.5

3.1

3.6

0.5

Toll Roads - Vehicle Equivalents (million)

314.0

283.6

-9.7%

909.6

840.5

-7.6%

Railways - Passengers Transported (million)

193.6

194.7

0.5%

560.6

564.9

0.8%

Airports - Boarded Passengers (million) 4

10.4

11.0

5.8%

29.4

31.6

7.6%

CAPEX 5

2,101

2,334

11.1%

4,982

5,471

9.8%

1. Excludes construction revenue and costs. Adjustments are described in the "non-recurring effects" section in Exhibit I (page 26).
2. The Adjusted EBITDA Margin was calculated by dividing Adjusted EBITDA by Adjusted Net Revenue.
3. ROE = Net Income/Equity | ROIC = NOPAT (EBIT*1-effective rate) /Invested Capital (Equity + Gross Debt).
4.As of 1Q25, all operational data for the airport business contained in this Release will be presented as total passengers versus boarded passengers (which only considers passengers that generate revenue).
5. Includes improvement works that do not generate future economic benefits for ViaOeste.

\ Videoconference

Conference call in Portuguese with simultaneous translation into English:

October 30, 2025

10:00 a.m. So Paulo / 9:00 a.m. New York

Videoconference link:

https://motiva-br.zoom.us/webinar/register/WN_hrypxotYSGqDOk9ylPT7-A?_x_zm_rtaid=DyNcTlWbSLyyM66J4OjpQw.1760556932535.74e3045bbe8b4d46bf3bb0ecb92ecb78&_x_zm_rhtaid=342#/registration

\ IR Contacts

Flvia Godoy: (+55 11) 3048-5900 - [emailprotected]

Douglas Ribeiro: (+55 11) 3048-5900 - [emailprotected]

Cau Cunha: (+55 11) 3048-5900 - [emailprotected]

Caique Moraes: (+55 11) 3048-5900 - [emailprotected]

Ana Beatriz Bovo:(+55 11) 3048-5900 - [emailprotected]

SOURCE Motiva S.A.

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