Ultrapar Participacoes S.a. · BMFBOVESPA:UGPA3
Ultrapar Participacoes — Ultrapar Participacoes S.A. (New) American Depositary Shares (Each representing one Common Share) — Q2 2026 Earnings Presentation
12 slides from Ultrapar Participacoes's earnings presentation, Aug 13, 2026
Slide 1: 2Q26 Earnings conference call
2Q26 Earnings conference call 08/13/2026
Slide 2: 2Q26 highlights
2Q26 highlights • Continuity of Ultrapar’s good operating results - Strong EBITDA growth, with all businesses posting growth, primarily driven by Ipiranga’s results - Net income in 1H26 increased by 71% compared to 2025 - Record operating cash generation of R$ 4.8 billion, reflecting solid performan
Slide 3: Disclaimer
Disclaimer Forward-Looking statements • This presentation may include forward-looking statements about future events. Such statements reflect only the expectations of the management of the Company. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “exp
Slide 4: Ultrapar – 2Q26 performance
Ultrapar – 2Q26 performance EBITDA Net income R$ M R$ M +149% 3,657 +46% +70% 3,524 Growth across all 1,677 Higher operating results 2,070 businesses 1,151 1,468 Higher depreciation and Better results at amortization Ipiranga Higher financial expenses 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 EBITDA Recurring E
Slide 5: Ultrapar – Debt and leverage
Ultrapar – Debt and leverage Net debt and leverage evolution 2.4R$ M 30,000 25,000 1.7x 1.7x 20,000 Financial leverage 2Q26 vs 1Q26 1.7x 1.5x 1.1x 15,000 12,148 12,275 Record operating cash generation 0.9x 8,864 10,000 Debt paydown at Ipiranga and Hidrovias 5,000 2,022 Additional contracting of draf
Slide 6: Conflict reinforced the position of distributors that consistently supply the market
Conflict reinforced the position of distributors that consistently supply the market Imports remain essential to meet domestic Government measures helped mitigate the pass- Conflict reinforced the position of distributors demand through of fuel price increases in Brazil with structural market supply
Slide 7: Reduction in illegal practices supports volume and margin recovery
Reduction in illegal practices supports volume and margin recovery Reducing illegal practices benefits everyone: Margin does not represent a significant portion Reduced competitive distortions support the higher tax collection, more resources for society of the pump prices, but it enables investment
Slide 8: Ipiranga – 2Q26 performance
Ipiranga – 2Q26 performance Volume¹ EBITDA 000 m³ R$ M +8% 6,173 5,733 2,773 2,782 2,700 2,868 +6% 1,657 1,665 1,199 2,925 3,208 +10% 678 2Q25 2Q26 2Q25 1Q26 2Q26 2Q25 1Q26 2Q26 209 275 449 118 276 451 Otto cycle Diesel EBITDA Recurring EBITDA² EBITDA R$/m³ • Continued market recovery: reduction of
Slide 9: Ultragaz – 2Q26 performance
Ultragaz – 2Q26 performance Volume EBITDA 000 ton R$ M -3% 432 418 442 -22% +6% 442 468 156 154 -2% 344 276 264 -4% 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 1,023 824 1,023 1,120 Bottled Bulk EBITDA Recurring EBITDA¹ EBITDA R$/ton Recurring EBITDA¹ Bottled: lower market demand and Lower volume competitive dyna
Slide 10: Ultracargo – 2Q26 performance
Ultracargo – 2Q26 performance Capacity and m³ sold Net revenues EBITDA 000 m³ R$ M R$ M +19% 4,421 3,703 +8% +7% +13% 1,156 265 159 1,067 247 141 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 44 46 Average installed capacity m³ sold EBITDA EBITDA (R$/m³ capacity) Increase of installed capacity by 89 thousand/m³ in
Slide 11: Hidrovias – 2Q26 performance
Hidrovias – 2Q26 performance Volume Net revenue EBITDA 000 ton R$ M R$ M 690 +7% -14% 700 622 700 664 650 650 6.000 600 600 4,922 5.500 550 550 4,239 5.000 500 500 4.500 450 450 4.000 400 400 348 324 3.500 350 350 322 360 3.000 300 300 350 340 250 250 330 350 2.500 320 300 310 2.000 200 200 300 250
Slide 12: ULTRAPAR PARTICIPAÇÕES S.A.
ULTRAPAR PARTICIPAÇÕES S.A. Investor Relations invest@ultra.com.br ri.ultra.com.br/en