In 2Q26, the Company’s Gross Debt totaled R$ 11,009.0 million, 7.1% lower than the previous quarter. The Company’s cash position totaled R$ 586.3 million, a decrease of 64.4% in the quarter and resulting in a net debt of R$ 10,422.7 million, 2.1% higher than in 1Q26.
The 64.4% decrease in Cash and Cash Equivalents in the quarter is mainly explained by payment of approximately (i) R$ 1,231.2 million in interest and amortization related to TAESA’s 6th, 8th, 10th, 12th, and 19th debenture issuances, as well as Janaúba’s 2nd debenture issuance, (ii) R$ 216.6 million in CAPEX during the quarter, and (iii) R$ 313.1 million in shareholder remuneration paid in May 2026. These effects were partially offset by cash generation and receipt of
dividends from subsidiaries and affiliates.
On a proportionally consolidated basis, including jointly controlled entities and associates, total gross debt would amount to R$ 13,809.5 million and cash and cash equivalents would total R$ 807.1 million, considering the following amounts: (i) TBE debt in the amount of R$ 1,294.5 million and cash/cash equivalents of R$ 162.5 million; (ii) ETAU cash/cash equivalents of R$ 9,9 million; and (iii) AIE debt (Aimorés, Paraguaçu, and Ivaí) of R$ 1,505.9 million and cash/cash
equivalents of R$ 48.4 million.
Considering the proportional net debt of jointly controlled entities and associates, the net debt-to-EBITDA ratio stood at
4.2x in 2Q26, in line with the value recorded in 1Q26 (4.2x).
