Pbg S.a.registered Shs · BMFBOVESPA:PTBL3
Pbg S.a.registered Shs — Portobello Grupo — Q4 2025 Earnings Presentation
19 slides from Pbg S.a.registered Shs's earnings presentation, 2026
Slide 1: Portobello Group Results Presentation 4Q25
Portobell Ropalaailo Porta palla merica Result Presentation 4Q25
Slide 2: Disclaimer
Disclaimer The information provided by PBG S/A, including outlooks, projections, operational and financial targets related to the business, are forecasts based on management's expectations regarding the company's future. These considerations are not guarantees of performance. They involve risks, unc
Slide 3: Market Overview
MARKET OVERVIEW Corporate Presentation 4Q25
Slide 4: North American Market
North American Market Decline in sales, with gains in local production and a more favorable environment for the domestic market. Ceramic Tile Sales (TCNA)¹ Volume (million m²) ▪ Overall sales decreased, driven by a contraction in imports, with a slight decline in domestic production. 27.8% 26.8% 27.
Slide 5: Brazilian Market
Brazilian Market The domestic market became more selective, with Portobello operating in an environment of softer demand. Ceramic Tile Volume Growth ▪ The Brazilian market showed a slowdown in PBG ¹ Wet-Process Segment² the wet-process segment throughout the 4Q25 vs. 4Q24 2025 vs. 2024 4Q25 vs. 4Q24
Slide 6: Operational Performance
OPERATIONAL PERFORMANCE Corporate Presentation 4Q25
Slide 7: Consolidated net revenue increased by 8.2% vs. 2024
Consolidated net revenue increased by 8.2% vs. 2024 The expansion of international operations offset the and grew 1.7% in 4Q25 vs. 4Q24, in a context of more moderate pace in the domestic market, enhancing greater selectivity in the domestic market. geographic diversification. Consolidated Net Reven
Slide 8: Net Revenue by Business Units
Businesses remain consistent, with gradual progress¹: Net Revenue by Business Units R$ million + 8.2% Ceramica Portobello: +5.5% vs. 2024 and +5.0% + 9.9% 2,606¹ vs. 4Q24, outperforming the wet-process market, 2,408¹ 379 reflecting competitiveness and consistent commercial 2,191¹ 298 execution. 228
Slide 9: Consolidated gross profit increased, with a stable margin for the year
Consolidated gross profit increased, with a stable margin for the year, while the quarterly performance reflects the sector’s seasonality. Gross Profit and Margin R$ million and % margin 35.9% 35.8% 931.9 865.4 37.9% 36.7% 36.9% 31.8% 31.5% 252.4 253.0 224.1 202.4 200.9 4Q24 4T24 1Q25 1T25 2Q25 2T25
Slide 10: EBITDA showed improvement throughout the year
EBITDA showed improvement throughout the year, even in a more competitive environment, with the fourth quarter reflecting the sector’s seasonal dynamics. EBITDA R$ million and % over Net Revenue 13.0% 12.3% 13.9% 14.2% 321.2 12.8% 313.5 8.2% 5.9% 95.2 97.5 75.7 52.8 37.4 4Q24 4T24 1Q25 1T25 2Q25 2T2
Slide 11: Net Result impacted by higher financial cost environment
Net Result was impacted by a higher financial cost environment, actions to strengthen cash, and the effects of the review of income tax recognition. Net Result R$ million and % margin -11.5% -4.2% -27.0% -11.2% (72.4) (102.0) (173.7) 4T24 4T25 4Q24 4Q25 (291.7) 2024 2025 Net Result % Margin Net Resu
Slide 12: Net Income and Financial Result
Net Income R$ million -189.7 Net Income reflected the pressure from financial costs, as well as revisions in 24.2 66.3 income tax recognition. -102.0 57.6 113.8 60.4 -291.7 2024 Gross Profit Operating Other Financial Income Tax 2025 Expenses Expenses Result (IR/CS) Financial Result R$ million The fi
Slide 13: Financial Performance
FINANCIAL PERFORMANCE Corporate Presentation 4Q25
Slide 14: Prioritization of cash generation in 2025: Free Cash Flow, CAPEX
Prioritization of cash generation in 2025, with Free Evolution of the Cash Conversion Cycle (CCC) R$ million and days Cash Flow (FCF) expansion and disciplined capital 30 allocation. 11 12 1 6 199 Free Cash Flow (FCF) 132 R$ million 87 87 67 316.0 135.7 4Q24 4T24 1Q25 1T25 2T25 2Q25 3T25 3Q25 4Q25 4
Slide 15: Leverage and amortization schedule
3.27x 3.09x 3.02x 2.86x 3.09x Although leverage remains 1,021 933 979 under control, it is still 923 886 7 5 5 11 16 elevated given the current 1,028 928 891 944 996 interest rate environment and Net Debt and Net Debt / EBITDA remains a priority for the 4T24 4Q24 1T25 1Q25 2Q25 2T25 3Q25 3T25 4Q25 4
Slide 16: Overall Outlook
Overall Outlook Our businesses will The U.S. operation Financial discipline Governance and strategy continue to deliver maintains a positive remains a core pillar, remain aligned for the consistent operating outlook, driven by the while optimizing the year, strengthening the results, despite more ma
Slide 17: Q&A
Q&A Corporate Presentation 4Q25
Slide 18: Final Consideration
FINAL CONSIDERATION Corporate Presentation 4Q25
Slide 19: Investor Relations
Investor Relation Website: ri.portobello.com.br Email: dri@portobello.com.br +55 (48) 99111.4946 Caio Gonçalves de Moraes Vice-President of Finance and Investor Relations Josiane Soares Tamanini Manager of Investor Relations Suelen Toniane Hames Investor Relations Coordinator Tayni Batista das Neves