STBP: Earnings Presentation 1Q24

EARNINGS PRESENTATION

1Q24

LEGAL DISCLAIMER

Forward-looking statements in this document concerning business prospects and growth of

Santos Brasil Participações S.A. and its controlled companies are merely projections, exclusively based on expectations essentially dependent on future market conditions, globally and in Brazil, and should not be regarded as binding upon the Company. Therefore, should not be regarded as a recommendation for any investment, being necessary that investors analyze and evaluate before any decision.

The words believe, may, will, estimate, continue, anticipate, intend, expectand similarwords are intended to identify estimates and forward-looking statements, that speak only as of the date they were made. The Company does not undertake the obligation to update or to review any estimate and/or forward-looking statement because of new information, future events or other factors. Estimates and forward-looking statements involve risks and uncertainties and are not guarantees of future performance.

Santos Brasil

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ESG INITIATIVES

RESPECT FOR THE ENVIRONMENT, OPERATIONAL SAFETY AND HUMAN DEVELOPMENT

Recognized by GPTW for

the 6th year in a row!

Santos Brasil was once again recognized in GPTW ranking as one of the best companies to work for.

The Port is Hers

First edition of the 100% female

workshop exclusively for

executives working on the port sector to discuss ESG topics.

Diversity and	We are part of ISE-B3
Inclusion Census	again!
The Diversity and Inclusion	Index demonstrates Santos
Census was sent to all	Brasil's commitment to
employees to prepare action	promoting sustainable practices
plans.	that ensure business longevity.

Santos Brasil

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OPERATIONAL INDICATORS

OPERATIONAL INDICATORS

RECOVERY OF DEMAND IN THE MAIN FLOWS AND BEGINNING OF NEW SERVICES

Container throughput (thousand containers)

Tecon Vila do Conde	Consolidated

Tecon Santos

Tecon Santos:

Tecon Santos

Tecon Imbituba

+27% YoY

	333
262
1Q23	1Q24

Tecon Vila do Conde

+11% YoY

21	23
1Q23	1Q24

+29% YoY

	296
230
1Q23	1Q24

Tecon Imbituba

+27% YoY

11	14
1Q23	1Q24

• +31% YoY in Long Haul and +17% YoY in Cabotage.
• +26% YoY in imports: higher volumes of plastics and chemicals.
• +15% in exports: increased shipments of coffee, sugar, frozen meat, and cotton.
• New services: MSC and ZIM (Long-Haul) and Norcoast (Cabotage).
• Market share: 39.1% (vs. 37.1% no 1T23).

Tecon Vila do Conde:

• +2% YoY in Long-Haul:+16% YoY in exports, especially of extractive industry products.
• +23% YoY in Cabotage, driven by increased demand for beverages and steel.

Tecon Imbituba:

• Normalization of Cabotage volumes.
• New service: CMA CGM (Long-Haul).

Santos Brasil

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OPERATIONAL INDICATORS

RECOVERY IN BONDED WAREHOUSING, BUT WITH IMPACTS ON OTHER UNITS OF THE AUTOMOTIVE SECTOR

Santos Brasil Logística (thousand containers and thousand pallets)

Bonded Warehouses

+9% YoY

15	17
1Q23	1Q24

Distribution Centers

	-40% YoY
282
	170
1Q23	1Q24

Bonded Warehouses:

• Result driven by the resumption of imports at the Port of Santos, with increased capture base for volumes.

Distribution Centers:

• Performance explained by the logistical reorganization of a client in the automotive sector

Vehicle handled (000 vehicles) and general cargo (tons)

Vehicle Terminal (TEV)

TCG Imbituba

TEV:

TEV	55	-27% YoY
CLIAs¹ Santos e Guarujá		40
CDs SBC e Imigrantes
TCG Imbituba
	1Q23	1Q24

+85% YoY

	35
19
1Q23	1Q24

• -28%YoY in exports, resulting from reduced shipments to South American countries.
• -11%YoY in imports, still due to subdued domestic consumption.

TCG Imbituba:

• Performance explained by increased volumes of soda ash and sodium sulfate.

Santos Brasil ¹ Centros Logísticos Industriais e Aduaneiros.

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FINANCIAL INDICATORS

CONSOLITED PERMORMANCE

A NEW QUARTER OF SOLID GROWTH IN ECONOMIC AND FINANCIAL RESULTS

Financial highlights (R$ million)

+50%	Gross Revenue
YoY
			760	735
	577	603
489
1Q23	2Q23	3Q23	4Q23	1Q24

+51%	Net Revenue
YoY

			667	645
	507	534
427
1Q23	2Q23	3Q23	4Q23	1Q24

+110% EBITDA and EBITDA Margin

YoY

			55%	50%
	44%	48%
36%			367
			321
	222	258
153
1Q23	2Q23	3Q23	4Q23	1Q24

+222%	Net Income
YoY

		139	225	148
46	94
1Q23	2Q23	3Q23	4Q23	1Q24

Highlights:

• Container and General Cargo Terminals: EBITDA of R$ 299,8 million(+128,3% YoY), with EBITA Margin of 60.1% (vs. 44.7% in 1Q23), an increase due to (i) operational leverage due to organic throughput increase and (ii) higher average ticket, reflecting new contracted prices with shipowners, a more favorable mix, with greater share of full containers, especially in imports, and refrigerated containers (reefers), and increased dwell time.
• Liquid Bulk Terminals: EBITDA of R$ 8 million(vs. R$ 0.3 million in 1Q23), with EBITDA margin of 58.9% (vs. 6.2% in 1Q23), an increase due to new contracts and conversion of spot contracts into long-term contracts

Santos Brasil

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CAPITAL ALLOCATION

FOCUS ON THE STRATEGRY: MAXIMIZE VALUE GENERATION OF CURRENT ASSETS AND TO SHAREHOLDERS

Capex (R$ million)

Liquid Bulk Terminals:

	104
86
1Q23	1Q24

• 1Q24: R$ 74 million
• Expansion of brownfield terminals (TGL 01 and TGL 03): +59,000 m³ by the end of 2024
• Continuity of works at the greenfield terminal (TGL 02): +81,000 m³ by the end of 2025

Tecon Santos:

• 1Q24: R$ 40 million
• Payments related to the purchase of two STS cranes, eight electric RTGs, and 20 terminal tractors
• Adaptation of the electrical and data network
• Dredging of the quay to standardize the draft (14.5 m)
• Drainage and paving of areas for RTG operation + infrastructure improvements

Earnings (R$ million)			Debt (R$ million)
569				0.09x
143	479		-0.41x	536
142
	IOC		Debt
		292
426		Dividends	Net Debt/Profroma EBITDA LTM
337
2022	2023		1Q23	1Q24
Santos Brasil

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THANK YOU!

CONTACT THE IR TEAM

[e-mail]

ri.santosbrasil.com.br (11) 3279-3279