Slide 1: 2Q26 & 1H26 Financial Results Webcast Presentation
EXPERIENCE The best in medicine WEBCAST PRESENTATION 2Q26 & 1H26 FINANCIAL RESULTS
Slide 2: Safe Harbor
Safe Harbor This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which statements involve substantial risks and uncertainties. All statements other than statements of historical fact, could be deemed forward- looking, inclu
Slide 3: Solid Performance: Operational and Financial Highlights
SOLID PERFORMANCE OPERATIONAL AND FINANCIAL HIGHLIGHTS OF THE SIX-MONTH PERIOD Financial Operational OPERATING MEDICAL SCHOOL MEDICAL SCHOOL NET ADJUSTED ADJUSTED REVENUE MEDICAL STUDENTS AVERAGE TICKET EBITDA EBITDA MARGIN SCHOOL SEATS (end of period) (Ex - Acquisitions R$/month) R$ 1,984.8MM R$918
Slide 4: Solid Performance: Highlights by Segment
SOLID PERFORMANCE OPERATIONAL AND FINANCIAL HIGHLIGHTS OF THE SIX-MONTH PERIOD UNDERGRADUATE CONTINUING MEDICAL PRACTICE CORPORATE PROGRAMS EDUCATION SOLUTIONS Medical Course net ticket 23% increase in total 20% increase in Clinical 106% of 1H26 FCFE returned increased by 4% Students Management Paye
Slide 5: Operational Overview
Afya Operational Overview yy
Slide 6: Operational Metrics: Undergraduate Programs
OPERATIONAL METRICS UNDERGRADUATE PROGRAMS NUMBER OF SEATS1 MEDICAL SCHOOL NET REVENUE (R$ MM) AND MEDICAL STUDENTS AVERAGE TICKET (Ex- Acquisitions - R$/MONTH) +7.4% +2.7% +3.9% 1,762.2 1,641.5 115.3 25,733 26,421 103.5 147.5 130.6 9,443 9,089 1,407.3 1,499.4 3,768 3,543 1H25 1H26 1H25 1H26 1H25 1H
Slide 7: Operational Metrics: Continuing Education
OPERATIONAL METRICS CONTINUING EDUCATION TOTAL STUDENTS (END OF PERIOD) OTHER COURSES RESIDENCY JOURNEY GRADUATE JOURNEY REVENUE (R$ MM) & B2B OFFERINGS +4.6% +35.1% 143.9 137.5 +12.8% 36,780 +0.2% 27,226 +7.5% 134.8 125.4 10,213 9,224 9,244 9,055 -25.4% 12.1 9.1 1H25 1H26 1H25 1H26 1H25 1H26 1H25 1
Slide 8: Operational Metrics: Medical Practice Solutions
OPERATIONAL METRICS MEDICAL PRACTICE SOLUTIONS TOTAL ACTIVE PAYERS MONTHLY REVENUE (R$ MM) (end of period) ACTIVE USERS -7.9% +1.5% -0.4% 84.0 85.3 230,468 212,158 201,323 200,547 +1.1% 75.1 75.9 -5.9% 159,373 150,048 +20.4% +4.9% 41,950 50,499 9.0 9.4 1H25 1H26 1H25 1H26 1H25 1H26 CLINICAL DECISION
Slide 9: Afya's Ecosystem
CONTINUING EDUCATION1 AFYA’S 56,237 ECOSYSTEM INTEGRATED FOR EVERY STAGE OF THE PHYSICIAN’S CAREER MEDICAL PRACTICE SOLUTIONS UNDERGRADUATE 212,158 PROGRAMS1 26,421 USERS POSITIVELY IMPACTED BY AFYA’S ECOSYSTEM ¹ECOSYSTEM OUTREACH DOES NOT CONTEMPLATE INTERCOMPANY FIGURES. NOTE THAT THERE MAY BE OVE
Slide 10: Financial Overview
Afya Financial Overview
Slide 11: Financial Metrics: Revenue and Adjusted EBITDA
FINANCIAL METRICS PERFORMANCE EVOLUTION REVENUE R$ (MM) ADJUSTED EBITDA & ADJUSTED EBITDA MARGIN (R$ MM AND %) 43.6% 48.1% 41.8% 46.2% +7.0% +5.7% 1,984.8 +2.8% 1,855.8 +1.4% 919.4 972.1 892.8 918.0 400.8 406.5 2Q25 2Q26 1H25 1H26 2Q25 2Q26 1H25 1H26 Adjusted Adjusted EBITDA EBITDA Margin
Slide 12: Financial Metrics: Cash Flow, Net Income and EPS
FINANCIAL METRICS PERFORMANCE EVOLUTION CASH FLOW FROM OPERATING ACTIVITIES NET INCOME & (R$ MM) & CASH CONVERSION (R$ MM AND %) & EARNINGS PER SHARE (R$ MM) 88.8% 87.8% 2.22 5.10 1.90 4.69 +2.9% +14.0% +6.8% 783.0 805.5 463.1 433.6 201.3 176.5 1H25 1H26 2Q25 2Q26 1H25 1H26 Cash Flow From Cash Net I
Slide 13: Gross Debt
GROSS DEBT SOLID CAPITAL STRUCTURE WITH A CONSERVATIVE LEVERAGING POSITION AND LOW COST OF DEBT FOR THE CLOSING OF THE SIX MONTHS PERIOD ENDED IN JUNE 30, Cost of Debt Gross Debt (R$MM) Duration (Years) Per year CDI² 2026 2025 2026 2025 2026 2025 2026 2025 Loans and financing: Softbank - 856 - 0.8 -
Slide 14: Net Debt Reconciliation
NET DEBT RECONCILIATION IMPRESSIVE CASH GENERATION R$ MM 2,495 +R$ 24MM 1,006 2,400 RETURN TO SHAREHOLDERS: R$ 448 MM -R$ 423MM 1,369 133 1,394 -1,125 315 170 92 -7 120 8 -806 2025 NET DEBT/ADJ. 2026 NET DEBT/ADJ. EBITDA: 0.8 EBITDA: 0.8* *NET DEBT / ADJUSTED EBITDA IS CALCULATED BY NET DEBT (EXCLUD
Slide 15: Strong Cash Generation Supporting Shareholder Remuneration
STRONG CASH GENERATION SUPPORTING SHAREHOLDER REMUNERATION NET INCOME GROWTH ENABLING INCREASING 40% OF 2025 NET INCOME SHAREHOLDER REMUNERATION – R$ MM | ACCRUAL BASIS RETURNED THROUGH DIVIDENDS 768 DISTRIBUTION. 649 13% OF LTM EARNINGS PER 463 SHARE GROWTH 392 405 384 77 11% OF LTM FREE CASH 242 2
Slide 16: Appendix
APPENDIX
Slide 17: Reconciliation Between Adjusted EBITDA and Net Income
RECONCILIATION BETWEEN ADJUSTED EBITDA AND NET INCOME For the three months period ended June 30, For the six months period ended June 30, (in thousands of R$) 2026 2025 % Chg 2026 2025 % Chg Net income 201,294 176,542 14.0% 463,057 433,578 6.8% Net financial result 98,939 94,809 4.4% 193,289 189,803
Slide 18: Reconciliation Between Change in Net Debt and Free Cash Flow to Equity
RECONCILIATION BETWEEN CHANGE IN NET DEBT POSITION AND FREE CASH FLOW TO EQUITY For the three months period ended June 30, For the six months period ended June 30, in millions of R$) 2025 2026 2025 2026 Net debt ex-IFRS16, previous 1,524 1,151 1,815 1,369 Net debt ex-IFRS16, current 1,621 1,394 1,62
Slide 19: Q&A Session
Q&A SESSION
Slide 20: Thank You
EXPERIENCE THE BEST IN MEDICINE THANK YOU Rua Paraíba, 330 Funcionários, Belo Horizonte, MG - ZIP CODE: 30130-140 +55 (31) 3515-7550 ir@afya.com.br
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