Slide 1: 2Q26 Earnings Release
2Q26 Earnings Release August 5th, 2026
Slide 2: Disclaimer
DISCLAIMER This document may contain forward-looking statements. These statements are based on estimates, information or methods that may be incorrect or inaccurate and that may not occur. These estimates are also subject to risks, uncertainties, and assumptions that include, among other factors, ge
Slide 3: Highlights
3 Highlights STRONG RESULTS IN NORTH AMERICA EXPANSION OF SELF-PRODUCTION OF ENERGY Increase in the ownership stake in Dona Francisca Energética, raising energy self-generation to over 50% of the Company’s total consumption. QoQ and YoY growth, highlighted by a more than 7% increase in North America
Slide 4: Financial performance
4 Financial performance 6M26 CAPEX INVESTMENTS: R$ 2.1 b ~45% of total Capex planned for the year invested SHARE CANCELLATION 2Q26 ADJUSTED EBITDA: R$ 3.4 b +16% vs. 1Q26, with positive performance across all reportable segments LEVERAGE: O.69x ND/EBITDA Solid balance sheet with low leverage SHARE B
Slide 5: Outlook
5 Outlook* NORTH AMERICA 3Q26: Stable margin Continued discipline in capital allocation and operational efficiency ▪ Backlog remains solid, supporting healthy shipment levels; ▪ Stable metal spreads and moderate pressure on production costs, driven by fuel costs and scheduled maintenance shutdowns;
Slide 6: Q&A
6 Q&A To ask questions, please indicate your name and institution via Raise Hand icon, wait to be announced . Once announced, accept the prompt to activate your microphone and camera .
Slide 7: Appendices
GERDAU Shape the future Appendices
Slide 8: Workplace Safety
Workplace Safety Continued focus on people Accident Frequency Rate¹ 0.57 in 2Q26 0.99 1.16 1.28 1.10 1.08 0.87 0.83 0.76 0.70 0.59 0.73 0.84 0.57 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2Q26 // 1 Number of accidents per million hours worked by each Gerdau employee. 2025 Deise Nunes-Silva &
Slide 9: Brazil quarterly overview
9 QUARTERLY OVERVIEW ◼ Total shipments were 2% higher than in 1Q26, driven by increased domestic volumes of flat, long, and special steel products. ◼ Net sales was 7% higher than in 1Q26, reflecting slightly higher realized prices across certain product lines and an improved sales mix; ◼ Cost of goo
Slide 10: Imports slowdown, but remain at high levels for the Brazilian steel industry
Imports slowdown, but remain at high levels for the Brazilian steel industry Source: Comexstat Steel import penetration rate Source: Brazil Steel Institute TRADE DEFENSE 1 New Origins: Egypt, Peru, Russia, Vietnam, India, Indonesia, Hong Kong, Thailand, Malaysia, Singapore and Taiwan. Import Tariffs
Slide 11: North America quarterly overview
11 Shipments (1,000 tonnes) Net Sales (R$ million) EBITDA (R$ million and margin) QUARTERLY OVERVIEW ◼ Total shipments were 6% higher than in 1Q26, with shipments of common long steel reaching a record level under the Company's current industrial configuration; ◼ Backlog exceeded 100 days in 2Q26, r
Slide 12: South America quarterly overview
Shipments (1,000 tonnes) Net Sales (R$ million) EBITDA (R$ million and margin) 12 86% UTILIZATION RATE Rolled Steel Crude Steel 77% QUARTERLY OVERVIEW 80% 20% Bars & Beams Downstream & Others ~70% Distribution (semi-finished) ~20% Civil construction ~10% Industry SOUTH AMERICA 288 306 282 2Q25 1Q26
Slide 13: Operational performance
Operational performance 1 Non-accounting measurement prepared by the Company. The Company states the Adjusted EBITDA to provide additional information on cash generated in the period. | 2 I Includes iron ore and co-products sales. Importance of geographic diversification for resilient results ADJUST
Slide 14: Cash flow & net cash variation
14 Cash flow & net cash variation 1 Includes thecash effect of customers, inventories,andsuppliersaccounts. | 2 Includes the addition of R$1.1billionin CAPEXinvestments in 2Q26, adjusted for the cash effect ofthechange in accounts payable to Property, plant, and equipment suppliersin theamount of R$
Slide 15: Cash, debt, and leverage
CASH, DEBT, AND LEVERAGE (R$ billion) LIQUIDITY POSITION AND DEBT AMORTIZATION1 (R$ billion) RATINGS: ¹ Global Revolving Credit Facility POLÍTICA FINANCEIRA GERDAU: 15 GROSS DEBT < R$12 BILLION AVERAGE TERM > 6 YEARS NET DEBT /EBITDA ≤1.5X BBB POSITIVE BBB STABLE Baa2 STABLE GERDAU FINANCIAL POLICY
Slide 16: Return to shareholders
Return to shareholders Continued share buyback and distribution of dividends above the mandatory minimum 2026 Share Buyback Program ◼Total program: up to 56.4 million shares; ◼ Financial volume repurchased until July 17, 2026: R$333.8 million GGBR4/GGBR3; ◼Cancellation of 85% of the total repurchase
Slide 17: CAPEX
CAPEX Investments in business growth, competitiveness, and maintenance 2026e¹ Maintenance Coking plants + blast furnaces Competitiveness 2.3 1.8 0.6 R$ 4.7 bi² 1 Doesnotinclude investments injointly-controlled entitiesandassociates. 2 Exposure by currency: 2026, ~55% in US$ and ~45% in R$. 2Q26¹ 0.4
Slide 18: Competitiveness CAPEX Main Projects: status 2Q26
Competitiveness CAPEX Main Projects: status 2Q26 MIGUEL BURNIER MINING PHYSICAL PROGRESS FINANCIAL PROGRESS 95% 90% Screening START-UP: SECOND SEMESTER OF 2026 POTENTIAL EBITDA: ~ R$1.1 BILLION CAPEX: ~ R$3.6 BILLION SCRAP PROCESSING PINDAMONHANGABA Scrap Yard PHYSICAL PROGRESS FINANCIAL PROGRESS 90
Slide 19: Follow Gerdau on social media
Follow Gerdau on social media. Earnings Release 3Q26 October 26,2026 Videoconference October 27,2026 inform@gerdau.com | ri.gerdau.com