Motiva – Results for the 4th quarter of 2025

1. For the purposes of this calculation, it considers (i) jointly owned subsidiaries and (ii) the Airport Business.

Consolidated Operational and Financial Highlights

OPERATIONAL AND FINANCIAL HIGHLIGHTS (R$ MM) 4Q24 4Q25 Var. % 2024 2025 Var. %

Consolidated Adjusted Net Revenue(1) 3,790 4,047 6.8 % 14,538 15,296 5.2 %

Consolidated Adjusted EBITDA(1) 2,017 2,525 25.2 % 8,281 9,522 15.0 %

Adjusted EBITDA – Toll Roads 1,584 1,917 21.0 % 6,237 7,139 14.5 %

Adjusted EBITDA – Rails 552 670 21.4 % 2,113 2,422 14.6 %

Adjusted EBITDA – Airports 221 303 37.1 % 1,014 1,215 19.8 %

Adjusted EBITDA – Others (342) (368) 7.6 % (1,082) (1,254) 15.9 %

Consolidated Adjusted EBITDA Margin(2) 53.2 % 62.4 % 9.2 p.p. 57.0 % 62.3 % 5.3 p.p.

Adjusted Net Income(1) 360 606 68.3 % 1,780 2,225 25.0 %

ROE LTM(3) 8.9 % 20.1 % 11.2 8.9 % 20.1 % 11.2
p.p. p.p.

ROIC LTM(3) 5.9 % 10.5 % 4.6 p.p. 5.9 % 10.5 % 4.6 p.p.

Net Debt/LTM Adjusted EBITDA (x) 3.3x 3.6x 0.3x 3.3x 3.6x 0.3x

Toll Roads – Vehicle Equivalents (million) 309.0 313.6 1.5 % 1,218.7 1,154.1 -5.3 %

Rails – Passengers Transported (million) 191.9 191.4 -0.3 % 752.5 756.3 0.5 %

Airports – Passengers Boarded (million)4 10.3 11.0 6.5 % 39.7 42.5 7.0 %

CAPEX
5 2,360 3,038 28.7 % 7,342 8,508 15.9 %

1. Excludes construction revenue and costs. Adjustments are described in the «non-recurring effects» section in Exhibit I.

2. The Adjusted EBITDA Margin was calculated by dividing Adjusted EBITDA by Adjusted Net Revenue.

3. ROE = Corporate Net Income/Equity | ROIC = NOPAT (EBIT*1-effective rate)/Invested Capital (Equity + Gross Debt). Equity and Gross Debt are presented at book value. Does not exclude «non-recurring effects».

4. As of 1Q25, all operational data for the airport business contained in this Release will be presented as total passengers versus passengers boarded (which only considers passengers that generate revenue).

5. Includes improvement works that do not generate future economic benefits for ViaOeste.

Discontinuation of the Airport Business and Accounting Reclassification

On November 18, 2025, the Company entered into a share purchase and sale agreement for 100% of the shares of Companhia de Participações em Concessões («CPC») with ASUR, marking the full divestment of the Airport Business. The execution of the agreement resulted in relevant accounting effects, as from that date aall results and balance sheet positions related to the airport segment were consolidated into a specific line item in the Income Statement, entitled Result from Discontinued Operations, and in the Balance Sheet as Assets and Liabilities Held for Sale.

The 2024 results were reclassified and restated to reflect this change, and the 2025 results have already been presented without the contribution of airport operations to the Company’s consolidated figures. These reclassifications took place in 4Q24 and 4Q25 and had a significant impact on the figures reported for the period, making the comparison of key indicators unfeasible. Below is a table with the consolidated figures reflecting the reclassifications of the Airport Business:

IFRS – Key Indicators – Includes the reclassification of the Airport Business

OPERATIONAL AND FINANCIAL HIGHLIGHTS (R$ MM) 4Q24 4Q25 Var. % 2024 2025 Var. %

Adjusted Net Revenue(1) 1,663 1,685 1.3 % 12,411 12,933 4.2 %

Adjusted EBITDA(1) 1,003 1,309 30.6 % 7,268 8,306 14.3 %

Adjusted EBITDA Margin(2) 60.3 % 77.7 % 17.4 58.6 % 64.2 % 5.7
p.p. p.p.

Adjusted Net Income(1) 360 606 68.2 % 1,780 2,225 25.0 %

1. Excludes construction revenue and costs. Adjustments are described in the «non-recurring effects» section in Exhibit I.

2. The Adjusted EBITDA Margin was calculated by dividing Adjusted EBITDA by Adjusted Net Revenue.

\ Videoconference

Conference call in Portuguese with simultaneous translation into English:

February 10th, 2026

9:30 a.m. São Paulo / 7:30 a.m. New York

Videoconference link:

https://motiva-br.zoom.us/webinar/register/WN_37Xv5m_DTeGZp9nkY5u_FA#/registration

\ IR Contacts

Flávia Godoy: (+55 11) 3048-5900 – [email protected]

Douglas Ribeiro: (+55 11) 3048-5900 – [email protected]

Cauê Cunha: (+55 11) 3048-5900 – [email protected]

Caique Moraes: (+55 11) 3048-5900 – [email protected]

Ana Beatriz Bovo:(+55 11) 3048-5900 – [email protected]

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