Cosan S.a. · BMFBOVESPA:CSAN3
Cosan — Q1 2026 Earnings Presentation
8 slides from Cosan's earnings presentation, May 15, 2026
Slide 1: Results 1Q26
Results 1Q26 May 15, 2026
Slide 2: Disclaimer
Disclaimer Results | 1Q26 Any estimates and forward-looking statements that may be made during this presentation regarding future operations with respect to our strategy and future growth opportunities are based primarily on our current expectations and estimates or projections of future events and
Slide 3: 1Q26 Highlights
1Q26 Highlights Results | 1Q26 Net Income1, 2 Dividends and IoC EBITDA5,6,7 EBITDA5,6,7 Received4 R$ 1.8 bn | Δ: 7% R$ 1.3 bn | Δ: 2% (1.6) bn Net Income7 Net Income7 R$ R$ 36 mn R$ 98 mn | Δ: n/a R$ 382 mn | Δ: -9% Cosan's stake: 30% Cosan's stake: 88%8 MEP R$ mn: 28 | Δ: 59 MEP R$ mn: 304 | Δ: -42
Slide 4: Operating Performance 1Q26
Operating Performance 1Q261 Results | 1Q26 • Growth in volume transported: 20.2 bn • Distributed volume with slight growth (+1%), RTK in the quarter (+25%) highlight for residential (+5%) • Higher EBITDA2 (+7%), driven by the • EBITDA2 marginally increasing vs 1Q25 performance of the North Operation
Slide 5: Relevant Transactions Q1 2026 | Cosan
Relevant Transactions Q1 2026 | Cosan Results | 1Q26 Managerial Cash Flow Debt Sources Uses reduction of 36 307 ~R$ 6.5 bn (1,384) (272) (6,149) 15,964 (787) 7,714 Portfolio Dividends / Interest on Portfolio management: Cash and equivalents, opening ¹ management: Interest and other acquisitions, cap
Slide 6: Liability Management | Cosan
Liability Management | Cosan Results | 1Q26 DSCR Expanded Gross Debt Expanded Net Debt¹ and DSCR2 Expanded Net Debt (R$ bn) (R$ bn) 1.2x 1.2x 25.7 1.0x 0.9x 0.4x 3.9 19.2 4.0 11.5 9,8 21.7 21.8 17,5 17,5 18,1 11,4 17.5 17.5 18.2 4.0 15.2 3,8 9.8 7.5 1Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 Cosan Dez
Slide 7: Q&A
Results | 1Q26 Q&A Marcelo Martins Rafael Bergman Fernando Tinel CEO CFO and IRO IR & ESG Head
Slide 8: Perception Call - Q1 2026
Perception Call - Q1 2026 Please answer the following questions to help improve our future results presentations. www.cosan.com.br ri@cosan.com