Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 1Q27 Earnings Presentation
10 slides from Sao Martinho's earnings presentation, Aug 12, 2026
Slide 1: Earnings Release 1st Quarter 2026/27
SãoSão Martinho Martinho São Earnings Martinho Release Resultados 1 Quarter st 1º Trimestre 2026/27 SafraCrop Resultados Year 1º 2025/26Trimestre Safra 2025/26 August 2026 1212de deagosto agostode de2025 2025
Slide 2: Disclaimer
DISCLAIMER ▪ This presentation contains forward-looking statements relating to the business outlook, operating and financial projections, and the growth prospects of São Martinho S.A. These statements merely represent projections and as such are based exclusively on management’s expectations about t
Slide 3: Agenda
1 FINANCIAL HIGHLIGHTS 2 MARGINS 3 CORN PROCESSING 4 SUGAR MARKET | HEDGE 5 ETHANOL MARKET 6 DEBT AGENDA 3
Slide 4: Financial Highlights
FINANCIAL HIGHLIGHTS ∆ ∆ 1T27 4T26 1T26 1T27/4T26 1T27/1T26 Net Rev enue¹ 1,529,820 2,244,676 1,857,459 -31.8% -17.6% Adjusted EBITDA 582,274 1,094,433 805,025 -46.8% -27.7% Adjusted EBI TDA Margin 38.1% 48.8% 43.3% -1069.5% -527.9% VALUES IN Adjusted EBIT 121,756 500,959 331,103 -75.7% -63.2% BRL ‘
Slide 5: Product Margins: Sugar Cane
PRODUCT MARGINS: SUGAR CANE Sugar Ethanol Cost Dilution (1Q27) BRL/ton BRL/m3 -4.2% • Higher productivity and average -25.7% TRS (+7.0% TRS per unit of product) 5,000.0 Price 3,000.0 4,500.0 2,396.0 2,830.9 4,000.0 2,500.0 6,000.0 2,713.1 3,000.0 • Lower sales volume, reflecting 3,500.0 1,779.1 2,00
Slide 6: Corn Processing
CORN PROCESSING Crushing: ∆ 1Q27 4Q26 1Q26 ∆ 1Q27/1Q26 • 139.0 ktons (+1.2%) 1Q27/4Q26 Net Revenue 235,347 432,020 265,795 -45.5% -11.5% • In line with Guidance Ethanol 179,403 383,082 210,022 -53.2% -14.6% DDGS 43,217 36,262 44,627 19.2% -3.2% Corn Oil 11,734 10,520 9,571 11.5% 22.6% Actual 1Q27 Co
Slide 7: Sugar Market | Hedge
SUGAR MARKET | HEDGE Sugar Market: SUPPLY vs. DEMAND2 • Divergence between prices and market 3.9 2025/26 2026/27E fundamentals 1.7 1.9 MM TON • Estimated 1.6 million-ton déficit for 2026/27E BRAZIL (CS) 40.4 | +0.2% 41.1 | +1.7% • Current prices do not reflect the potential El -0.4 INDIA 28.3 | +7.7
Slide 8: Ethanol Market | South-Centre
ETHANOL MARKET | SOUTH-CENTRE Market Indicators: 3,137 3,067 2,965 2,935 2,928 • Prices pressured by weak demand 2,848 2,790 2,698 2,749 2,746 2,846 (PRICE, PARITY AND MARKET SHARE) 2,581 2,575 2,570 2,537 • Change in historical relationship between MARKET INDICATOR 2,340 2,250 2,238 2,243 ethanol p
Slide 9: Debt
DEBT jun/26 mar/26 Var%. Agribusiness Certificate of Receiv ables (CRA) 2,002,758 2,544,585 -21.3% BNDES / FI NAME 2,339,943 2,179,628 7.4% Working Capital/ Export Credit Note (NCE) 957,015 98,384 872.7% Debentures 3,563,701 3,066,058 16.2% VALUES IN BRL ´000 I nternational Finance Corporation (I FC
Slide 10: Relações com Investidores
RELAÇÕES COM INVESTIDORES +55 11 2105-4100 ri@saomartinho.com.br www.saomartinho.com.br/ri www.saomartinho.com.br