Financial Statements** 2Q26

Log-In Logística Intermodal S.A.

Individual and Consolidated

1

June 30, 2026

Centro Empresarial PB 370

Praia de Botafogo, 370

8º ao 10º andar - Botafogo

22250-040 - Rio de Janeiro - RJ - Brasil Tel: +55 21 3263-7000

ey.com.br

A free translation from Portuguese into English of Independent Auditor's Review Report on quarterly information prepared in Brazilian currency in accordance with Accounting Pronouncement NBC TG 21 and IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board (IASB)

To the Shareholders, Board of Directors and Officers

Rio de Janeiro - RJ

Introduction

We have reviewed the accompanying individual and consolidated interim financial information contained in the Quarterly Information Form (ITR) of Log-in Logística Intermodal S.A. ("Company") for the quarter ended June 30, 2026, which comprises the statement of financial position as at June 30, 2026, and the related statements of profit or loss, of comprehensive income for the three and six-month periods then ended and of changes in equity and of cash flows for the six-month period then ended, including the explanatory notes.

The executive board is responsible for the preparation of the individual and consolidated interim financial information in accordance with Accounting Pronouncement CPC 21 Interim Financial Reporting, and IAS 34 Interim Financial Reporting, issued by the International Accounting Standards Board (IASB), as well as for the fair presentation of this information in conformity with the rules issued by the Brazilian Securities and Exchange Commission (CVM) applicable to the preparation of the Quarterly Information Form (ITR). Our responsibility is to express a conclusion on this interim financial information based on our review.

Scope of review

We conducted our review in accordance with Brazilian and international standards on review engagements (NBC TR 2410 and ISRE 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with auditing standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion on the individual and consolidated interim financial information

Based on our review, nothing has come to our attention that causes us to believe that the individual and consolidated interim financial information included in the quarterly information referred to above is not prepared, in all material respects, in accordance with CPC 21 and IAS 34 applicable to the preparation of Quarterly Information Form (ITR), and presented consistently with the rules issued by the Brazilian Securities and Exchange Commission (CVM).

1

Other matters

Statements of value added

The interim financial information referred to above includes the individual and consolidated statements of value added (SVA) for the six-month period ended June 30, 2026, prepared under the Company management's responsibility and presented as supplementary information under IAS 34. These statements have been subject to review procedures performed together with the review of the quarterly information with the objective to conclude whether they are reconciled to the interim 313 financial information and the accounting records, as applicable, and if their format and content are in accordance with the criteria set forth by Accounting Pronouncement CPC 09 Statement of Value Added. Based on our review, nothing has come to our attention that causes us to believe that they were not prepared, in all material respects, in accordance with the criteria set forth by this standard and consistently with the overall interim financial information.

Rio de Janeiro, August 12, 2026. ERNST & YOUNG

Auditores Independentes S/S Ltda.

CRC SP-015199/F

Marcelo Felipe L. de Sá Partner

Accountant CRC RJ-094644/O

2

In thousands of reais - R$

LIABILITIES

T

In thousands of reais - R$

The accompanying notes are an integral part of these interim financial statements.

4

In thousands of reais - R$

In thousands of reais - R$, except for earnings per share

Profit for the period 133,198 25,086 95,263 51,629 133,175 25,074 95,226 51,605

Other comprehensive income:

Items that may subsequently be reclassified to the profit or loss

the period

6

operations/subsidiaries

In thousands of reais - R$

7

The accompanying notes are an integral part of these interim financial statements.

In thousands of reais - R$

Cash and cash equivalents at end of period 271,725 270,583 185,910 136,309

The accompanying notes are an integral part of these interim financial statements.

8

9

In thousands of reais - R$

In thousands of Brazilian reais - R$, except when otherwise stated.

1. OPERATIONS

   Log-In Logística Intermodal S.A. and its subsidiaries ("Log-In" or "Company") provide maritime cabotage and long-haul services (Mercosur), as well as road haulage and land and port terminals in Brazil.

   The Company offers integrated solutions for container handling for door-to-door and part-load transport, that is, by sea, supplemented by road haulage. As of June 30, 2026, the Company has seven (7) vessels of its own in operation, 1,597 (one thousand five hundred ninety-seven) vehicles in its own fleet-including trailers-and operates 1 (one) port terminal and 1 (one) intermodal terminal.

   Log-In Logística Intermodal S.A. ("Parent Company") is a publicly-held corporation headquartered in the city of Rio de Janeiro and its securities are traded on B3 S.A. - Brasil, Bolsa, Balcão under the code LOGN3.

   The Company is controlled by SAS Shipping Agencies Services Sàrl ("SAS"), a company in the MSC Group and majority holder of the ordinary shares issued by Log-In, excluding treasury shares, as per Note 18.

2. HIGHLIGHTS

   The following are some key matters that occurred in the second quarter in 2026:

   • Disposal of the vessels Resilient and Pantanal

   On June 3, 2026, Log-In International GmbH ("Seller" and "Charterer"), a subsidiary of Log-In, sold the vessel Log-In Resiliente to Nendaz Oceanway Limited ("Nendaz Oceanway"). Nendaz Oceanway is a subsidiary of MSC Mediterranean Shipping Company S.A. ("MSC"), which controls SAS Shipping Agencies Services Sàrl, the Company's controlling shareholder.

   The transaction value was US$23,500 (twenty-three million, five hundred thousand U.S. dollars); this amount was determined based on valuation reports prepared by two independent firms, where commercial negotiations were conducted independently between the Buyer's management and the Company's management.

   On April 27, 2026, Log-In International GmbH ("Seller" and "Charterer"), a subsidiary of Log-In, sold the vessel Log-In Pantanal to Evolene Oceanway Limited ("Evolene Oceanway"). Evolene Oceanway is a subsidiary of MSC Mediterranean Shipping Company S.A. ("MSC"), which controls SAS Shipping Agencies Services Sàrl, the Company's controlling shareholder.

   The transaction value was US$17,500 (seventeen million, five hundred thousand U.S. dollars); this amount was determined based on valuation reports prepared by two independent firms, where commercial negotiations were conducted independently between the Buyer's management and the Company's management.

   The sale of both vessels resulted in a gain of R$ 155,443 (one hundred fifty-five million, four hundred forty-three thousand reais), as shown in Note 3.

3. BASIS OF PREPARATION AND PRESENTATION OF THE INTERIM FINANCIAL STATEMENTS

   1. STATEMENT OF COMPLIANCE

      The individual and consolidated financial statements ("financial statements") were prepared in accordance with the International Financial Reporting Standards ("IFRS") issued by the International Accounting Standards Board ("IASB") and in accordance with accounting practices adopted in Brazil ("BR GAAP").

      The Management hereby declares that all relevant information specific to the financial statements, and only this, is being proven and corresponds to that used by Management in its management.

   2. BASIS OF PREPARATION

      The financial statements were prepared based on historical cost, except for certain financial instruments measured at fair value at the end of each reporting period, as described in the accounting practices below. Historical cost is usually based on the fair value of the consideration paid in exchange for goods and services.

      On the date that the financial statements were approved, Management and directors fully expect that the Group has adequate funds to continue operating in the near future. Therefore, they continue to adopt the going concern basis of accounting in preparing the individual and consolidated financial statements.

      10

      
      
      ACCOMPANYING NOTES

      In thousands of Brazilian reais - R$, except when otherwise stated.

   3. FUNCTIONAL AND REPORTING CURRENCY

      These financial statements are reported in Reais (R$), the Company's functional currency, with rounding when applicable, except when otherwise stated.

      For subsidiaries abroad that operate in a stable economic environment and have a functional currency different from that of the Parent Company, the income statements are converted into reais at the average monthly exchange rate, while assets and liabilities at the final rate and equity items at the historic rate.

      For the subsidiary Log-In Mercosur, which operates in a hyperinflationary economy (Argentina), the financial statements were prepared by the Management in the functional currency of that country and subsequently converted into the reporting currency of the parent company, based on the precepts provided for in CPC 42 - Financial Reporting in Hyperinflationary Economies (IAS 29).

      Exchange variations on investments in subsidiaries, with a functional currency different from that of the Parent Company, are recorded in equity as a cumulative conversion adjustment that is transferred through the profit or loss when the investments are disposed of.

   4. BASIS OF CONSOLIDATION

      The consolidated financial statements include the financial information of the Company and its subsidiaries prepared up to June 30, 2026. Further information on the Company's subsidiaries is given in Note 11.

      Control is obtained when the Company: (i) has power over the investee; (ii) is exposed, or has rights, to variable returns arising from its involvement with the investee; and (iii) has the ability to use that power to affect its returns.

      The consolidation of a subsidiary begins when the Company obtains its control and ends when it loses it. Specifically, the income and expenses of a subsidiary acquired or disposed of during the period are included in the income statement from the date on which the Company obtains control until the date on which the Company ceases to control the subsidiary.

      When necessary, the subsidiaries' financial statements are adjusted to bring their accounting policies into line with the Company's accounting policies. All transactions, balances, income, unrealized income and expenses and cash flows between group companies are eliminated in the consolidated financial statements.

      Non-controlling interests in subsidiaries are identified separately from the Company's interest in these subsidiaries. The book value of non-controlling interests corresponds to the value of these interests in the initial recognition plus the portion of subsequent changes in the equity of the subsidiaries.

   5. SEGMENT REPORTING

      The Company's line of business consists of integrated solutions for handling and transporting containers door-to-door. In order to provide intermodality for its customers, the company offers maritime transport, short-haul road services, land terminals, port terminals and warehousing services. The Company's assets operate in an integrated manner, with interconnected and interdependent results.

      The Port Terminal ("Terminal de Vila Velha - TVV"), in addition to being part of the Company's integrated solutions, started to operate more general cargo, mainly related to new businesses, positioning itself increasingly as a multipurpose terminal. Tecmar and Oliva Pinto were classified as the Company's road freight transportation. The information was prepared and analyzed by the Company's CEO (the main operational decision maker) to allocate resources and evaluate the company's performance for the period ended June 30, 2026. The three operational segments are considered inter-modalities of the services provided:

      • Integrated Solutions;

      • Port Terminal; and

      • Road Cargo Transport.

        The Company's main decision maker does not analyze certain balance sheet accounts segregated by operating segment, with the exception of loans, financing and debentures. Therefore, this segment information is not being presented.

        11

        
        
        ACCOMPANYING NOTES

        In thousands of Brazilian reais - R$, except when otherwise stated.

      • Information on results by segment

        INCOME STATEMENT

        Integrated Port

        Solutions Terminal

        2Q26

        Road Cargo Transport

        2Q25

        Eliminatio

        n

        Consolidated

        Integrated

        Solutions

        Port

        Terminal

        Road Cargo Eliminatio

        Transport

        n

        Consolidated

        Ongoing operations

        Net Revenue 566,802 134,335 143,248 (67,280) 777,105 548,638 99,108 146,095 (54,661) 739,180

        Cost of services provided (563,028) (75,022) (145,477) 67,280 (716,247) (470,576) (61,697) (147,533) 54,661 (625,145)

        114,035

        -

        (1,438)

        37,411

        78,062

        60,858

        -

        (2,229)

        59,313

        3,774

        GROSS PROFIT

        Funds from subsidy - AFRMM

        invested

        24,536 - - - 24,536 17,751 - - - 17,751

        Administrative and selling expenses (33,481) (11,017) (12,371) - (56,869) (27,746) (8,565) (8,000) - (44,311) Gain on the disposal of assets 155,443 1 1,292 - 156,736 - - - - -Other income (expenses), net 12,538 5 4,022 - 16,565 2,244 65 4,270 - 6,579

        PROFIT BEFORE NET FINANCE COSTS 162,810 48,302 (9,286) - 201,826 70,311 28,911 (5,168) - 94,054

        FINANCIAL RESULT

        Finance Income 19,069 3,011 605 (4,854) 17,831 8,407 4,477 1,355 (3,640) 10,599

        Finance expenses (45,121) (17,642) (14,609) 4,854 (72,518) (36,578) (11,408) (12,567) 3,640 (56,913)

        Monetary and exchange rate variances, net

        (2,010) (3) 119 - (1,894) 13,838 178 - - 14,016

        (28,062) (14,634) (13,885) - (56,581) (14,333) (6,753) (11,212) - (32,298)

        PROFIT BEFORE TAXES	134,748	33,668	(23,171)	-	145,245	55,978	22,158	(16,380)	-	61,756
        INCOME TAX AND SOCIAL CONTRIBUTIONS Current	(15,377)	(11,259)	(28)	-	(26,664)	(10,593)	(4,545)	(2,610)	-	(17,748)
        Deferred	15,798	(43)	(1,111)	-	14,644	(12,644)	(5,361)	(918)	-	(18,923)

        	421	(11,302)	(1,139)	-	(12,020)	(23,237)	(9,906)	(3,528)	-	(36,671)
        PROFIT (LOSS) FOR THE PERIOD	135,169	22,366	(24,310)	-	133,225	32,741	12,252	(19,908)	-	25,085

        6M26

        6M25

        Integrated Port

        Solutions Terminal

        Road Cargo

        Transport

        Elimination Consolidated

        Integrated Port Road Cargo Elimination Consolidate

        Solutions Terminal Transport d

        Net Revenue 1,085,783	240,947	277,644	(147,125)	1,457,249	1,076,248	187,201	275,964	(116,470)	1,422,943
        Cost of services provided (1,069,245)	(142,659)	(285,513)	147,125	(1,350,292)	(908,473)	(116,871)	(288,622)	116,470	(1,197,496)
        GROSS PROFIT 16,538	98,288	(7,869)	-	106,957	167,775	70,330	(12,658)	-	225,447
        Funds from subsidy - AFRMM 41,180	-	-	-	41,180	36,993	-	-	-	36,993
        Administrative and selling expenses (62,959)	(20,455)	(22,744)	-	(106,158)	(53,377)	(18,821)	(16,682)	-	(88,880)
        Gain on the disposal of assets 155,443	21	1,295	-	156,759	-	-	-	-	-
        Other income (expenses), net 7,823	15	5,862	-	13,700	4,841	1,350	5,557	-	11,748
        PROFIT BEFORE NET FINANCE COSTS 158,025	77,869	(23,456)	-	212,438	156,232	52,859	(23,783)	-	185,308
        FINANCIAL RESULT Finance Income 37,780	6,493	1,015	(8,885)	36,403	16,336	8,302	1,669	(7,335)	18,972
        Finance expenses (85,856)	(29,258)	(33,528)	8,885	(139,757)	(80,696)	(23,334)	(22,662)	7,335	(119,357)
        Monetary and exchange rate 24,002	293	116	-	24,411	32,221	595	-	-	32,816

        Ongoing operations

        invested

        variances, net

        	(24,074)	(22,472)	(32,397)	-	(78,943)	(32,139)	(14,437)	(20,993)	-	(67,569)
        PROFIT BEFORE TAXES	133,951	55,397	(55,853)	-	133,495	124,093	38,422	(44,776)	-	117,739
        INCOME TAX AND SOCIAL CONTRIBUTIONS
        Current	(21,178)	(21,512)	(123)	-	(42,813)	(18,263)	(10,770)	(3,519)	-	(32,552)
        Deferred	1,309	2,954	318	-	4,581	(28,828)	(2,893)	(1,838)	-	(33,559)

        	(19,869)	(18,558)	195	-	(38,232)	(47,091)	(13,663)	(5,357)	-	(66,111)
        PROFIT (LOSS) FOR THE PERIOD	114,082	36,839	(55,658)	-	95,263	77,002	24,759	(50,133)	-	51,628

        12

        
        
        ACCOMPANYING NOTES

        In thousands of Brazilian reais - R$, except when otherwise stated.

        REVENUE FROM FREIGHT AND SERVICES

        Integrated Solutions	Port Terminal	2Q26 Road Cargo Transport	Elimination	Consolidate d	2Q25
        					Integrated Solutions	Port Terminal	Road Cargo Transport	Elimination	Consolidated

        from 582,599	2,659	163,213	(63,257)	685,214	571,263	6,362	182,744	(50,565)	709,804
        freight Revenue
        from 50,562 services	145,383	-	(4,023)	191,922	44,189	103,075	(2,700)	(4,096)	140,468
        Gross 633,161	148,042	163,213	(67,280)	877,136	615,452	109,437	180,044	(54,661)	850,272
        Taxes on (66,362)	(13,705)	(19,964)	-	(100,031)	(66,814)	(10,329)	(33,949)	-	(111,092)
        Net 566,799	134,337	143,249	(67,280)	777,105	548,638	99,108	146,095	(54,661)	739,180

        Revenue

        Revenue revenue Revenue

        6M26					6M25
        Integrated Solutions	Port Terminal	Road Cargo Transport	Eliminatio n	Consolidate d	Integrated Solutions	Port Terminal	Road Cargo Transport	Elimination	Consolidated

        Revenue 1,120,404	7,512	322,566	(138,445)	1,312,037	1,112,049	11,549	339,071	(107,859)	1,354,810
        Revenue
        from 93,831 services	259,215	-	(8,680)	344,366	85,961	194,752	-	(8,611)	272,102
        Gross 1,214,235	266,727	322,566	(147,125)	1,656,403	1,198,010	206,301	339,071	(116,470)	1,626,912
        Taxes on (128,452)	(25,780)	(44,922)	-	(199,154)	(121,762)	(19,100)	(63,107)	-	(203,969)
        Net 1,085,783	240,947	277,644	(147,125)	1,457,249	1,076,248	187,201	275,964	(116,470)	1,422,943

        from freight

        Revenue revenue Revenue

        NATURE OF THE OPERATING EXPENSES AND COSTS RECOGNIZED IN THE INCOME STATEMENT

        2Q26

        2Q25

        Integrated Port Road Cargo

        Solutions Terminal Transport

        Eliminatio

        n

        Consolidated

        Integrated Port

        Solutions Terminal

        Road

        Cargo Transport

        Elimination Consolidated

        Payroll, charges and (82,813)	(25,105)	(35,937)	-	(143,855)	(72,714)	(21,050)	(35,265)	-	(129,029)
        Material (10,326)	(3,364)	(8,335)	-	(22,025)	(15,182)	(2,820)	(8,717)	-	(26,719)
        Fuel oil and gases (60,074)	(2,055)	(14,772)	-	(76,901)	(59,439)	(1,833)	(13,655)	-	(74,927)
        Freight, rental and (73,815)	(8,350)	(1,684)	36,648	(47,201)	(45,565)	(6,365)	(1,497)	25,308	(28,119)
        Contracted services (300,630)	(30,795)	(84,983)	30,631	(385,777)	(271,885)	(29,221)	(85,534)	29,353	(357,287)
        Depreciation and (50,191)	(15,200)	(12,755)	-	(78,146)	(52,859)	(8,273)	(11,282)	-	(72,414)
        Other (18,661)	(1,170)	620	-	(19,211)	19,321	(700)	415	-	19,036
        (596,510)	(86,039)	(157,846)	67,279	(773,116)	(498,323)	(70,262)	(155,535)	54,661	(669,459)

        benefits

        leasing

        amortization

        6M26							6M25
        Integrated Port Road Cargo Elimination Consolidated Integrated Solutions Terminal Transport Solutions						Port Terminal	Road Cargo Elimination Consolidated Transport
        Payroll, charges and (161,413)	(46,559)	(70,633)	-	(278,605)	(143,601)	(40,891)	(69,616)	-	(254,108)
        Material (22,701)	(6,714)	(16,843)	-	(46,258)	(27,855)	(5,102)	(16,194)	-	(49,151)
        Fuel oil and gases (103,738)	(4,175)	(27,880)	-	(135,793)	(116,562)	(3,540)	(26,488)	-	(146,590)
        Freight, rental and (141,568)	(14,860)	(3,520)	85,319	(74,629)	(103,883)	(11,865)	(3,599)	60,274	(59,073)
        Contracted services (590,344)	(60,994)	(162,979)	61,806	(752,511)	(503,856)	(55,015)	(164,442)	56,195	(667,118)
        Depreciation and (101,616)	(27,623)	(25,120)	-	(154,359)	(106,991)	(16,248)	(20,906)	-	(144,145)
        Other (10,823)	(2,189)	(1,283)	-	(14,295)	40,903	(3,032)	(4,061)	-	33,810
        (1,132,203)	(163,114)	(308,258)	147,125	(1,456,450)	(961,845)	(135,693)	(305,306)	116,469	(1,286,375)

        benefits

        leasing

        amortization

        13

        
        
        ACCOMPANYING NOTES

        In thousands of Brazilian reais - R$, except when otherwise stated.

      • Information about geographic area

        NON-CURRENT ASSETS

        	06.30.2026
        	Integrated Logistics Solutions	Port Terminal	Road Cargo Transport	Elimination	Consolidated
        Brazil	2,514,976	563,470	307,118	(1,486,322)	1,899,242
        Austria	686,614	-	-	-	686,614
        Other countries*	842	-	-	-	842
        Total non-current assets	3,202,432	563,470	307,118	(1,486,322)	2,586,698

        *Since they are not individually representative, the financial statements of operations in foreign countries are being disclosed together.

        	12.31.2025
        	Integrated Logistics Solutions	Port Terminal	Road Cargo Transport	Elimination	Consolidated

        Brazil	2,331,682	540,548	278,216	(1,185,160)	1,965,286
        Austria	597,835	-	-	-	597,835
        Other countries	606	-	-	-	606
        Total non-current assets	2,930,123	540,548	278,216	(1,185,160)	2,563,727
        		LIABILITIES
        			06.30.2026
        Loans, financing, debentures and commercial notes Integrated Logistics Port Terminal Road Cargo Transport Consolidate Solutions d

        12.31.2025 Loans, financing, debentures and commercial notes Integrated Logistics Port Terminal Road Cargo Transport Consolidate Solutions d
        Brazil	1,336,239	190,756	172,732	1,699,727
        Total	1,336,239	190,756	172,732	1,699,727
        Current Liabilities	212,713	25,299	88,010	326,022
        Non-current liabilities	1,123,526	165,457	84,722	1,373,705

        Brazil	1,250,242	198,215	169,828	1,618,285
        Total	1,250,242	198,215	169,828	1,618,285
        Current Liabilities	177,373	26,302	83,700	287,375
        Non-current liabilities	1,072,869	171,913	86,128	1,330,910

        GROSS AND NET REVENUE

        2Q26 2Q25
        	Integrate d Solutions	Port Terminal	Road Cargo Transport	Elimination	Consolidate d		Integrated Solutions	Port Terminal	Road Cargo Transport	Elimination	Consolidated

        Brazil	484,737	77,869	163,212	(53,966)	671,852	406,828	56,367	180,044	(42,154)	601,085
        Argentina	29,108	-	-	(1,371)	27,737	22,587	-	-	(1,144)	21,443
        Switzerland	81,767	26,651	-	-	108,418	122,105	44,037	-	-	166,142
        Austria	11,943	-	-	(11,943)	-	11,363	-	-	(11,363)	-
        Denmark	4,167	9,289	-	-	13,456	15,468	6,615	-	-	22,083
        Germany	15	-	-	-	15	632	12	-	-	644
        France	16,752	5,061	-	-	21,813	22,930	6,115	-	-	29,045
        Israel	1,801	1,000	-	-	2,801	1,362	610	-	-	1,972
        China	740	26,071	-	-	26,811	4,908	19,443	-	-	24,351
        Italy	22	2,088	-	-	2,110	-	1,336	-	-	1,336
        Other (*)	2,123	-	-	-	2,123	7,268	(25,097)	-	-	(17,829)

        Revenue

        Gross 633,175 Taxes on (66,362)	148,029 (13,705)	163,212 (19,964)	(67,280) -	877,136	615,451	109,438	180,044	(54,661)		850,272
        income				(100,031)	(66,814)	(10,329)	(33,949)	-		(111,092)
        Net 566,813	134,324	143,248	(67,280)	777,105	548,637	99,109	146,095		(54,661)	739,180

        Revenue

        (*) Since they are not individually representative, the financial statements of operations in foreign countries are being disclosed together.

        14

        
        
        ACCOMPANYING NOTES

        In thousands of Brazilian reais - R$, except when otherwise stated.

        Integrated Solutions	Port Terminal	6M26 Road Cargo Transport	Elimination	Consolidate d	6M25
        					Integrated Solutions	Port Terminal	Road Cargo Transport	Elimination	Consolidated

        Brazil	912,013	149.229	322,566	(123.076)	1,260,732	771,731	101.070	339,071	(86.447)	1,125,425
        Argentina	53,228	-	-	(1.699)	51,529	45,629	-	-	(1,440)	44,189
        Switzerland	170,501	47,854	-	-	218,355	254,210	44.037	-	-	298,247
        Austria	22,350	-	-	(22,350)	-	28,582	-	-	(28,582)	-
        Denmark	12,151	17,729	-	-	29,880	25,753	17,451	-	-	43.204
        Germany	38	-	-	-	38	3.512	64	-	-	3,576
        France	35,613	10.363	-	-	45,976	44,982	12,463	-	-	57,445
        Israel	1,998	1.103	-	-	3.101	2,218	928	-	-	3,146
        China	880	38.309	-	-	39.189	6,123	26,878	-	-	33.001
        Italy	40	2,133	-	-	2.173	-	2,280	-	-	2,280
        Other (*)	5,421	9	-	-	5,430	15,269	1,131	-	-	16,400
        Gross 1,214,233		266,729	322,566	(147.125)	1,656,403	1,198,009	206,302	339,071	(116,469)	1,626,913
        Taxes on (128,452)		(25,780)	(44,922)	-	(199.154)	(121,762)	(19.100)	(63.107)	-	(203.969)
        Net 1,085,781		240.949	277,644	(147.125)	1,457,249	1,076,247	187,202	275,964	(116,469)	1,422,944

        Revenue income Revenue

        (*) Since they are not individually representative, the financial statements of operations in foreign countries are being disclosed together.

   6. CASH FLOW STATEMENT ("CFS")

      The Company and its subsidiaries classify interest paid and loans obtained as financing activities, loans granted as investment activities and dividends received as operating activities in the cash flow statements. Therefore, the Company understands that the interest paid represents costs to obtain its financial resources, the dividends received represent an extension of its operating activities, the loans obtained are useful to forecast the requirements on future cash flows, as well as to manage its financial capacity, using external funds for the purpose of financing operating and financing activities and the loans granted represent an increase and/or decrease in the long-term (non-current) assets that the Company uses to produce goods and services.

   7. STATEMENT OF VALUE ADDED ("DVA")

      The purpose of this statement is to disclose the wealth created by the Company and its subsidiaries and its distribution during a certain reporting period. It is submitted by the Company and its subsidiaries, as required under Brazilian Corporate Law, as part of its individual financial statements and as supplementary information to the consolidated financial statements, since this statement is not provided for, nor mandatory, under IFRS.

      The DVA was prepared based on information obtained from the accounting records that serve as the basis for preparing the financial statements and following the provisions contained in CPC 09 - Statement of Value Added.

   8. MATERIAL INFORMATION ON ACCOUNTING POLICIES

      Material information on the accounting policies for a better understanding of the basis of recognition and measurement applied in the preparation of these financial statements is described below in the respective accompanying notes. These accounting practices are consistent with those adopted and disclosed in the financial statements for previous periods shown for comparative purposes.

      1. New and amended IFRS/CPC standards in force in the current year

         As of January 1, 2026, the following new standards and amendments are in force: :

         • Amendments to IFRS 7 (CPC 40) - Financial instruments: Disclosures;

         • Amendments to IFRS 9 (CPC 48) - Financial instruments:

         • Amendments to IAS 7 (CPC 03 (R2)) - Statement of Cash Flows.

           The adoption of these new standards and changes have not significantly affected the individual and consolidated financial statements as at June 30, 2026 and comparative periods.

           15

           
           
           ACCOMPANYING NOTES

           In thousands of Brazilian reais - R$, except when otherwise stated.

      2. New and revised IFRSs/CPCs issued and not yet applicable

      • Issuance of IFRS 18, which replaces IAS 1 (equivalent to CPC 26 (R1) - Presentation of Financial Statements;

      • Issue of IFRS 19 - Subsidiaries without Public Accountability: Disclosures;

      • Amendments to CPC 18 (R3) - Investments in Associates, Subsidiaries and Joint Ventures and ICPC 09 - Individual Accounting Statements, Separate Statements, Consolidated Statements and Application of the Equity Method;

      • Amendments to CPC 02 (R2) - Effects of Changes in Foreign Exchange Rates and Translation of Financial Statements;

        Management does not expect that the adoption of the standards listed above will have a material impact on the Company's individual and consolidated financial statements in future periods.

4. MAIN ACCOUNTING JUDGMENTS AND SOURCES OF UNCERTAINTIES IN ESTIMATES

   The preparation of these interim financial statements requires the use of estimates and the exercise of judgment by Management in the application of the Company's accounting policies. These estimates are based on management's experience and knowledge, information available on the reporting date and other factors, including expectations of future events that are believed to be reasonable under normal circumstances. Changes in facts and circumstances may lead to a revision of these estimates. Actual future results may differ from those estimated.

   The significant estimates and judgments used by the Company in the preparation of these interim financial statements are shown in the accompanying notes and take into account that the comparative interim financial statements do not change:

   Critical accounting estimates and judgments	Accompanying Notes
   Measurement of expected credit losses ("ECL") in accounts receivable.	6
   Payment of deferred income tax and social contributions	10
   Uncertainty over Income Tax Treatments	10
   Determination of the useful life of property, plant and equipment	12
   Assumptions for identifying indications of loss and impairment tests of fixed assets and intangible assets	12 and 13
   Incremental discount rate used to measure leasing transactions	14
   Estimates relating to lawsuits and contingencies	17
   Highly probable income subject to Hedge Accounting	18

5. CASH AND CASH EQUIVALENTS, AND FINANCIAL INVESTMENTS

   • Accounting policy

     Cash and cash equivalents, measured at fair value through the profit or loss, comprise cash amounts, net deposits and immediately redeemable, financial investments in investments with an insignificant risk of change in value, to meet short-term cash commitments.

     Financial investments are initially measured at fair value and subsequently measured according to their respective classifications:

     • Amortized cost: cash flows that constitute the receipt, on specified dates, of principal and interest on the principal amount outstanding and the business model aims to maintain the asset in order to receive its contractual cash flows. Interest income is calculated using the effective interest method;

     • Fair value through other comprehensive income: securities in which the Company has irrevocably elected due to subsequent changes in the fair value of the investment in other comprehensive income; and

     • Fair value through the profit or loss: all other securities.

   • Composition of cash and cash equivalents

   	Consolid	ated	Parent Co	mpany
   	06.30.2026	12.31.2025	06.30.2026	12.31.2025
   Cash and banks	86,558	31,523	64,836	17,778
   Total investments	185,167	268,586	121,074	209,860
   	271,725	300,109	185,910	227,638

   16

   
   
   ACCOMPANYING NOTES

   In thousands of Brazilian reais - R$, except when otherwise stated.

   The financial investments in the consolidated financial statements consist primarily of investments in Bank Certificates of Deposit ("CDB") and repurchase agreements, with an average rate of return of approximately 100.07% of the CDI (100.95% as of December 31, 2025).

   The parent company's financial investments consist primarily of investments in Bank Certificates of Deposit ("CDB") and repurchase agreements, with an average rate of return of approximately 100.17% of the CDI (100.74% as of December 31, 2025).

   	Consolidated
   	06.30.2026	12.31.2025
   Amortized cost	19,589	7,303
   Fair value through profit or loss	32,253	32,041
   	51,842	39,344
   Current	18,850	7,303
   Non-current	32,992	32,041

   • Composition of financial investments

   Financial investments refer mainly to investments in funds, with an average rate of return of approximately 100.73% of the CDI (100.67% on December 31, 2025).

6. TRADE ACCOUNTS RECEIVABLE

   • Accounting policy

     Trade accounts receivable represent the amounts receivable for services rendered by the Company and its subsidiaries. It is recognized at fair value and subsequently measured at amortized cost using the effective interest method. The Company and its subsidiaries apply the simplified approach of IFRS 9/CPC 48 to measure expected credit losses, using a provision matrix based on expected losses for the entire balance of accounts receivable.

   • Critical accounting estimates and judgments

     The default loss is an estimate of the loss resulting from the failure of the customers to make actual payments. It is based on the difference between the contractual cash flows due and those that the creditor would expect to receive, taking into account cash flows from guarantees and improvements in total credit. When measuring Expected Credit Losses ("ECL"), the Company and its subsidiaries use information about the future that are reasonable and supportable, which are based on economic assumptions and how these will affect potential risk of loss due to default in its operations.

     The probability of default is an important piece of data for measuring ECL. It is an estimate of default during a specific period, the calculation of which includes historical data, assumptions and expectations of future conditions.

     The Company and its subsidiaries have recognized expected credit losses for all accounts receivable where historical experience has indicated that these receivables are generally not recoverable.

   • Composition

   Consolidated	Parent Company
   06.30.2026 12.31.2025	06.30.2026 12.31.2025

   Trade accounts receivable	482,291	528,467	223,934	275,055
   Expected credit loss	(6,407)	(10,528)	(1,767)	(10,528)
   	475,884	517,939	222,167	264,527
   Current	407,354	449,409	222,167	264,527
   Non-current (a)	68,530	68,530	-	-

   (a) This recognition is related to the court case at the Vila Velha Terminal in which the Federal Government was ordered to pay the storage fees for goods seized by the Federal Revenue Service, with interest and monetary correction, in accordance with a final judgment. The amount to be paid to the Company will be settled in approximately three years, with payment expected by 2027. The sale of the credit through precatorios is not economically viable for the Company in the period ending June 30, 2026, since the amount will remain subject to monetary restatement until the actual payment, and the company's cash flow does not include this receipt, making it as an extraordinary amount, with no direct impact on the company's regular operations and liquidity needs.

   17

   
   
   ACCOMPANYING NOTES

   In thousands of Brazilian reais - R$, except when otherwise stated.

   Consolidated	Parent Company
   Aging list of short-term trade accounts receivables 06.30.2026 12.31.2025	06.30.2026 12.31.2025

   Amounts due	243,271	274,425	156,352	181,479
   Past due:
   From 0 to 30 days	44,831	58,216	20,272	30,002
   From 31 to 90 days	30,313	46,661	15,108	28,940
   From 91 to 180 days	23,251	28,634	10,091	14,652
   181 to 360 days	37,699	26,781	15,042	10,187
   Over 360 days	34,396	25,220	7,069	9,795
   	413,761	459,937	223,934	275.055

   Consolidated	Parent Company
   Changes in expected credit losses 06.30.2026 12.31.2025	06.30.2026 12.31.2025

   Opening balances	(10,528)	(1,584)	(10,528)	(1,584)
   Additions and reversals	(20)	(167)	(16)	(167)
   Write-offs in accounts receivable	4,141	(8,777)	8,777	(8,777)
   Closing balances	(6,407)	(10,528)	(1,767)	(10,528)

7. RELATED-PARTY TRANSACTIONS

   • Composition

   The Company's main transactions with related parties consist of the provision of services, carried out under normal market conditions. The prices charged are determined on the basis of market criteria, as shown in detail in Note 11, which provides information on the subsidiaries involved.

   	Consolidated Parent Company
   	06.30.2026 12.31.2025 06.30.2026 12.31.2025
   Assets		Liabilities	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities
   Terminal de Vila Velha S.A. - TVV (a)	-	-	-	-	45,008	40,135	44,902	30,851
   Log-In Mercosur S.R.L. (b)	-	-	-	-	3,607	2,872	2,351	1,752
   Log-In International GmbH (c)	-	-	-	-	1	173,392	1	31,030
   Log-In Uruguay (d)	-	-	-	-	442	1,240	462	1,318
   Log-In Navegação Ltda (e)	-	-	-	-	74,236	7,500	45,667	12,618
   Log-In Marítima Cabotagem Ltda (f)	-	-	-	-	18,774	103,193	1,743	73,398
   Tecmar Transportes Ltda. (g)	-	-	-	-	154,605	8,725	140,796	3,625
   Oliva Pinto (h)	-	-	-	-	220	4,888	1,035	3,022
   MSC Mediterranean Shipping Company S.A. (i)	39,001	1,104	46,146	7,994	29,557	1,049	35,418	8,067
   MSC Mediterranean Logística Ltda. (i)	1,449	16,855	1,587	997	564	16,845	944	913
   MSC Multi-Rio Operações Portuárias S.A. (i)	431	21	778	5	21	21	21	5
   Portonave (Grupo MSC) (i)	-	4,250	-	3,832	-	4,250	-	3,832
   MSC Mediterranean Shipping do Brasil Ltda. (i)	-	2,152	3,284	456	-	1,857	5,209	339
   Uniter Administração de Bens Ltda. (i)	-	-	-	28	-	-	-	-
   Brasil Terminal Portuário S.A. (i)	-	2	-	2	-	2	-	2
   Medlog Paraguay Sociedad Anonima (i)	-	21	-	46	-	21	-	46
   Medlog Argentina S.A. (i)	-	37	-	91	-	37	-	91
   Tecon - Rio Grande S/A (j)	5	1,988	5	907	5	1,975	5	907
   Tecon - Salvador S/A (j)	31	3,399	594	2,653	31	3,399	594	2,653
   Wilson Sons Serviços Marítimos Ltda. (j)	-	2,259	-	2,159	-	1,659	-	1,688
   Wilson Sons Terminais e Logistica Ltda. (j)	4	17	11	2	4	17	11	2
   Allink Transportes Internacionais Ltda. (j)	17	-	28	-	17	-	28	-
   	40,938	32,105	52,433	19,172	327,092	373,077	279,187	176,159
   Current	40,938	32,105	52,433	19,172	214,460	237,000	173,937	176,159
   Non-current	-	-	-	-	112,632	136,077	105,250	-

   Assets with related parties mainly refer to the following transactions:

   1. Dividends receivable of R$18,736, a share of administrative expenses totaling R$18,250, port services of R$5,129, and reimbursement of expenses in the amount of R$2,892.

   2. Container freight and cleaning services for R$3.607.

   1. Reimbursement of administrative expenses.

   2. Sharing of administrative expenses in the amount of R$12,585, reimbursement for bunker fuel purchases in the amount of R$23,091, advance payments for charter fees in the amount of R$16,821, and reimbursement of operating expenses in the amount of R$21,739.

   3. Reimbursement for the purchase of bunker fuel in the amount of R$10,561; sharing of administrative expenses in the amount of R$1,772; and reimbursement of operating expenses in the amount of R$3,121.

      18

      
      
      ACCOMPANYING NOTES

      In thousands of Brazilian reais - R$, except when otherwise stated.

   4. Loans receivable from Tecmar Transportes in the amount of R$112,632 and freight services in the amount of R$39,417, all of which are subject to interest/monetary adjustment and have a due date.

   5. Reimbursement of administrative expenses.

   6. Amounts receivable from the MSC Group arising from the provision of services.

   7. Amounts receivable from the Wilson Sons Group arising from the provision of services.

   Liabilities with related parties basically refer to the following transactions:

   1. Amounts payable totaling R$32,134 relate to port services and container loading and unloading.

   2. Port operations services for R$2.502.

   3. Amounts payable related to vessel chartering with the subsidiary, totaling R$37,315, and loans payable to Log-In International GmbH totaling R$136,077, subject to interest, monetary and/or exchange rate adjustments, and with a due date.

   4. Dividends payable of R$1.240 corresponding to US$240 with Log-In Uruguay.

   5. Amounts payable relating to the charter of a vessel with the subsidiary in the amount of R$6,377.

   6. Amounts payable relating to the charter of a vessel with the subsidiary in the amount of R$103,193.

   7. Amounts payable relating to road transportation services with the subsidiary, amounting to R$8,318.

   8. Amounts payable relating to road transportation services with the subsidiary, amounting to R$2,985.

   9. Amounts payable to MSC group companies for contracted services supporting port and road transport.

   10. Amounts payable to Wilson Sons group companies for contracted services to support port.

   The Company's transactions with related parties recorded in the income statement for the periods ended June 30, 2026 and 2025 total the following amounts:

   Consolidated
   2Q26			2Q25	6M	26	6M25
   Income	Expense	Income	Expense	Income	Expense	Income	Expense

   MSC Mediterranean Shipping Company S.A.	107,786	-	140,703	-	215,581	-	295,653	(1,373)
   MSC Mediterranean Logística Ltda.	837	(4,850)	15	(4,833)	885	(9,919)	15	(8,387)
   MSC Multi-Rio Operações Portuárias S.A.	917	-	1,279	(46)	1,946	-	1,503	(46)
   MSC Mediterranean Shipping do Brasil Ltda.	-	(3,863)	-	(3,870)	-	(8,957)	-	(10,629)
   Portonave S/A Terminais Portuários de Navegantes	-	(12,184)	-	(9,046)	-	(24,786)	-	(17,451)
   Brasil Terminal Portuário S.A.	-	-	-	(114)		-	-	(403)
   Medlog Argentina S.A.	-	-	-	(593)	-	-	-	(1,031)
   MSC Global Supplies Srl	-	(9)	-	-	-	(9)	-	(703)
   Uniter Administração de Bens Ltda.	-	(109)	-	(68)	-	(132)	-	(134)
   Tecon - Rio Grande S/A	-	(4,522)	-	-	-	(9,270)	-	-
   Tecon - Salvador S/A	-	(9,344)	-	-	-	(17,793)	-	-
   Wilson Sons Serviços Marítimos Ltda.	-	(5,251)	-	-	-	(10,888)	-	-
   Wilson Sons Terminais e Logística Ltda.	-	(677)	-	-	-	(762)	-	-
   Allink Transportes Internacionais Ltda.	99	-	-	-	154	-	-	-
   Wilson Sons Shipping Services Ltda.	-	-	-	-	36	(3)	-	-
   	109,639	(40,809)	141,997	(18,570)	218,602	(82,519)	297,171	(40,157)

   19

   
   
   ACCOMPANYING NOTES

   In thousands of Brazilian reais - R$, except when otherwise stated.

   Parent Company
   2Q26			2Q25	6M	26	6M25
   Income	Expense	Income	Expense	Income	Expense	Income	Expense

   TVV - Terminal de Vila Velha S.A.	4	(3,981)	-	(4,096)	64	(8,638)	-	(8,611)
   Log-In Mercosur SRL	220	(1,371)	-	(3,382)	377	(1,699)	188	(4,061)
   Log-In Logistics GmBH	-	(5,854)	-	(3,902)	-	(9,429)	-	(12,438)
   Log-In Navegação Ltda.	-	(11,499)	-	(6,432)	24	(35,839)	-	(14,987)
   Log-In Marítima Cabotagem Ltda.	-	(13,173)	-	(7,513)	-	(27,096)	-	(16,561)
   Tecmar Transportes Ltda.	11,232	(13,269)	20,272	(12,390)	21,653	(25,277)	27,140	(23,942)
   MSC Mediterranean Shipping Company S.A.	78,833	-	102,219	-	157,944	-	215,563	(1,327)
   MSC Mediterranean Logistica Ltda.	7	(3,213)	13	(3,679)	55	(8,860)	13	(6,252)
   MSC Multi-Rio Operações Portuárias S.A.	-	(17)	-	(41)	-	(17)	-	(548)
   MSC Mediterranean Shipping do Brasil Ltda.	-	(3,368)	-	(3,521)	-	(8,526)	-	(10,167)
   Oliva Pinto Logística Ltda.	234	(8,817)	-	(12,240)	453	(15,846)	-	(19,044)
   Portonave S/A Terminais Portuários de Navegantes	-	(12,184)	-	(9,046)	-	(24,786)	-	(17,451)
   Brasil Terminal Portuário S.A.	-	-	-	(114)	-	-	-	(403)
   Medlog Argentina S.A.	-	-	-	(593)	-	-	-	(1,031)
   MSC Global Supplies Srl	-	-	-	-	-	(9)		(351)
   Uniter Administração de Bens Ltda	-	(109)	-	(68)	-	(132)	-	(134)
   Tecon - Rio Grande S/A	-	(4,509)	-	-	-	(9,257)	-	-
   Tecon - Salvador S/A	-	(9,161)	-	-	-	(17,793)	-	-
   Wilson Sons Serviços Marítimos Ltda.	-	(4,037)	-	-	-	(8,175)	-	-
   Wilson Sons Terminais e Logística Ltda.	-	(677)	-	-	-	(762)	-	-
   Allink Transportes Internacionais Ltda.	99	-	-	-	154	-	-	-
   	90,629	(95,239)	122,504	(67,017)	180,724	(202,141)	242,904	(137,308)

   	Consolidated
   	2Q26		2Q25			6M26			6M25
   Income		Expense	Income	Expense	Income	Expense		Income	Expense

   Freight and services	109,639	(40,809)	141,997	(18,570)	218,602	(82,519)	297,171	(40,157)
   	109,639	(40,809)	141,997	(18,570)	218,602	(82,519)	297,171	(40,157)

   	Parent Company
   	2Q26		2Q25			6M26			6M25
   Income		Expense	Income	Expense	Income	Expense		Income	Expense

   Freight and services Finance Income Finance expenses	76,706 (95,248) 119,246 13,923 - 3,258 - (855) -	(67,017) 180,724 - - - -	(202,141) - -	236,283 6,621 -	(137,308) - -
   	90,629 (96,103) 122,504	(67,017) 180,724	(202,141)	242,904	(137,308)
   In the period ended June 30,	2026, the balance of the receivable loan	with the subsidiary Tecmar	Transportes Ltda.	changed	as follows:
   	Balances at Loans granted 12.31.2025	Financial charges	Loan collections		Balance at 06.30.2026
   Loans with subsidiaries	105,250 -	7,382	-		112,632

   Changes in the payable loan balance, from the subsidiary Log-In International GmbH, in the period ended June 30, 2026 were as follows:

   Balances at

   12.31.2025

   Loans received

   Finance charges and

   exchange variance

   Loan payments

   Balance at

   06.30.2026

   Loans with subsidiaries - 132,701 3,376 - 136,077

   The remuneration of key Management personnel, including short and long-term benefits, is shown in the table below:

   Consolidated and Parent Company
   	2Q26	2Q25	6M26	6M25
   Remuneration and bonuses	8,998	11,431	12,929	15,514
   	8,998	11,431	12,929	15,514

   The company signed a container and real estate lease agreement with the MSC Group. The amounts are shown in Note 14, under "Composition of Liabilities with Leasing", in the "Container equipment" and "Office real estate" groups, totaling R$71.106 and R$23.901 respectively, with the following amount referring to related parties:

   20

   
   
   ACCOMPANYING NOTES

   In thousands of Brazilian reais - R$, except when otherwise stated.

   Consolidated Parent Company
   	06.30.2026	12.31.2025		06.30.2026	12.31.2025
   MSC Mediterranean Shipping Company S.A.	26,164	57,415		26,164	57,415
   Uniter Administração de Bens Ltda.	480	553		480	553
   	26,644	57,968		26,644	57,968

8. RECOVERABLE TAXES

   • Composition

     Consolidated	Parent Company
     06.30.2026 12.31.2025	06.30.2026 12.31.2025

     Income tax and social contributions	25,308	28,947	3,559	7,067
     PIS AND COFINS (a)	246,794	240,518	226,539	214,368
     ICMS (b)	25,240	-	10,833	-
     Other	3,862	4,082	837	1,367
     	301,204	273,547	241,768	222,802
     Current	275,964	273,547	230,935	222,802
     Non-current	25,240	-	10,833	-

     1. Of the total amount of R$ 246.794, R$ 159,297 was recognized in 2025. This amount refers to a tax credit arising from a lawsuit related to the Manaus Free Trade Zone, which has become final and has been registered with the Federal Revenue Service, and which the Company uses to offset tax liabilities of the same nature.

     2. The Company obtained, in a writ of mandamus filed on April 11, 2023 (No. 1019838-44.2023.8.26.0053), a final and unappealable court decision ruling in favor of the non-levy of ICMS on import "feeder" transportation operations originating in the State of São Paulo, with the judgment upheld by the São Paulo Court of Appeals, recognizing the corresponding tax credit, adjusted for inflation.

9. FREIGHT SURCHARGE FOR THE RENEWAL OF THE MERCHANT MARINE - "AFRMM"

   • Accounting policy

     A Freight Surcharge for the Renewal of the Merchant Marine (AFRMM) was established by Decree-Law No. 2,404/1987 and is regulated by Law No. 10,893/2004. With the changes brought by Laws 12,599/2012 and 12,788/2013, the management of the activities relating to the payment receipt, inspection, funding, refund and reimbursement of AFRMM became the responsibility of the Federal Revenue of Brazil (RFB).

     The AFRMM was established to meet the responsibilities of Federal Government to support the development of the merchant navy and the Brazilian naval industry and is a basic source of the Merchant Marine Fund (FMM).

     The Company earns 8% of the value of its customers' cabotage freight, the amounts of which can only be used in construction, docking, repairs, maintenance of vessels and amortization of financing granted for the acquisition of vessels.

     Government grants are not recognized until there is reasonable assurance that the Company will meet the related conditions and that the grants will be received. If the requirements for recognition of the subsidized revenue in the income statement are not satisfied, the consideration for the benefit in the asset is recorded in a specific Company liabilities account.

     The benefit of AFRMM is recognized in current assets and liabilities when the funds receivable from the Merchant Marine Fund - FMM are released to the linked account; this also applies to receivables from FMM related to amortizations of financing provided from the Company's own funds. AFRMM amounts recorded under liabilities are recognized in the income statement when the financing is amortized when the obligations are complied with, according to specific legislation.

     Investment grants are not subject to taxation and must be recorded as profit reserves up to the limit of profit for the period, as per Note 18. The amount allocated to profit reserves will be taxed under the actual taxable income method if this investment grant is used for any other purpose other than that provided for in the current legislation.

     	Consolidated and Parent Company
     	06.30.2026	12.31.2025
     Balance sheet - Assets:
     AFRMM to be invested (estimated release in 12 months)	40,227	62,941
     AFRMM to apply (a)	47,116	30,939
     	87,343	93,880
     Current	40,227	62,941
     Non-current	47,116	30,939

     • Composition

     1. The AFRMM to be applied is recognized in non-current assets due to the predictability of receipt of funds, from the grant management body, being greater than the operational cycle practiced by the Company.

   21

   
   
   ACCOMPANYING NOTES

   In thousands of Brazilian reais - R$, except when otherwise stated.

   Below are the changes in the AFRMM funds recorded by the Company in the interim financial statements as of June 30, 2026:

   	Consolidated and Parent Company
   	06.30.2026	12.31.2025
   Opening balance	93,880	143,527
   Additions/Income	41,180	88,337
   Transfer to current account	(47,890)	(138,488)
   Other	173	504
   Closing balance	87,343	93,880

10. INCOME TAX AND SOCIAL CONTRIBUTIONS

    • Accounting policy

      Income tax and social contribution expenses for the period are recognized in the income statement unless they are related to items directly recognized in equity, including current and deferred taxes. Income tax and social contributions are disclosed net, by taxpayer entity, when there is a legally enforceable right to offset recognized amounts and when there is an intention to net them off, or realize the asset and settle the liability simultaneously.

      Current tax is based on the actual taxable income for the period, in accordance with the relevant legislation and rates in effect at the end of the period being reported.

      Deferred taxes are generally recognized on temporary differences between the tax bases of assets and liabilities and their carrying amounts and measured at the rates estimated for the period when the asset is realized or the liability settled, based on the rates (and tax legislation) that have been enacted or substantively enacted at the end of the period being reported. Offsetting tax losses and negative social contribution base is limited to 30% of the taxable income (taxable income) for the year.

      Deferred tax assets are recognized for all deductible temporary differences, including unused tax losses and credits, insofar as it is probable that there will be taxable income against which the deductible temporary difference can be used and tax losses and credits are recognized and can be used, unless the deferred tax asset arises from the initial recognition of an asset or liability in a transaction which is not a business combination and at the time of the transaction does not affect either the profit or the taxable profit (tax loss).

      The existence of future taxable income based on the accounting records of deferred tax assets on June 30, 2026, is based on a technical study, approved by the Company's Board of Directors at the end of the year that ended on December 31, 2025. This technical analysis and approval process is carried out annually by the Company.

    • Critical accounting estimates and judgments

      Significant judgments, estimates and assumptions are required to determine the amount of deferred tax assets that are recognized based on future taxable income and time. Deferred tax assets arising from tax losses and temporary differences are recognized considering projected assumptions and cash flows, as prepared by Management. Deferred tax assets may be affected by factors including, but not limited to: (i) internal assumptions about projected taxable income, based on planning for handling containers and cargo, operating costs and planning for cost of capital; (ii) macroeconomic scenarios; and (iii) commercial and tax aspects, when changed.

      In addition, the Company applies critical accounting judgment in identifying uncertainties about tax positions on profit, which may impact the consolidated financial statements. Log-In and its subsidiaries are subject to review of income tax and other tax returns and, therefore, disputes may arise with the tax authorities due to the differences in interpretation of applicable laws and tax regulations.

    • Reconciliation of Income Tax (IRPJ) and Social Contributions on Profit (CSLL)

      	2Q26	Consolidated 2Q25 6M26		6M25	Parent Company
      					2Q26	2Q25	6M26	6M25
      Profit before taxes	145,218	61,757	133,495	117,740	116,553	37,562	90,615	72,993
      IRPJ and CSLL expenses at the effective rate (34%)	(49,374)	(20,997)	(45,388)	(40,032)	(39,628)	(12,771)	(30,809)	(24,818)
      Adjustments: Tax subsidy revenue (AFRMM applied)	8,342	6,036	14,001	12,578	8,342	6,036	14,001	12,578
      Credits on unrecognized tax losses and temporary differences	18,462	(11,943)	(17,738)	(35,640)	(13,320)	340	(40,845)	(14,131)
      Profit from equity method	-	-	-	-	56,940	1,939	56,103	3,807
      ICMS presumed credit	5,150	-	5,150	-	5,150	-	5,150	-
      Other	5,400	(9,767)	5,743	(3,017)	(862)	(8,032)	1,011	1,176
      Income tax and social contributions in the profit or loss	(12,020)	(36,671)	(38,232)	(66,111)	16,622	(12,488)	4,611	(21,388)
      Current	(26,664)	(17,748)	(42,813)	(32,552)	-	-	(1,452)	-
      Deferred	14,644	(18,923)	4,581	(33,559)	16,622	(12,488)	6,063	(21,388)

      22

      
      
      ACCOMPANYING NOTES

      In thousands of Brazilian reais - R$, except when otherwise stated.

    • Composition of deferred taxes

    Consolidated Deferred taxes 06.30.2026 12.31.2025	Parent Company
    	06.30.2026 12.31.2025
    Balance sheet - assets (net):

    Tax losses and negative bases	194,968	194,968	167,093	167,093
    Temporary differences (a)	146,520	145,997	131,142	132,237
    	341,488	340,965	298,235	299,330
    Balance sheet - liabilities (net):
    Temporary differences (b)	96,300	92,610	-	-
    	96,300	92,610	-	-

    1. Temporary differences related mainly to operating and administrative provisions, leasing, provisions for risks and exchange rate variations taxed under the cash basis method.

    2. Temporary liability differences related to, basically the accelerated depreciation of vessels in the shipping companies and the gains and losses of assets acquired, and liabilities assumed in the Tecmar business combination.

    These deferred tax assets are expected to be realized, adjusted for timing differences up to June 30, 2026, according to a study approved by the Company's Board of Directors, is shown in the table below:

    	Consolidated	Parent Company
    Year	06.30.2026	06.30.2026
    2026	3,879	-
    2027	7,151	-
    2028	13,389	-
    2029	5,731	4,041
    2030	13,483	13,483
    2031-2033	102,880	102,880
    2034-2035	134,935	117,791
    	281,448	238,195

    The main assumptions of the Technical Study (Business Plan) prepared by Management and approved by the governance bodies consider an operation with a fleet of two chartered vessels and seven own vessels, brought in under tonnage rights, combined with medium-term capacity growth strategies.

    The bases and taxes shown below represent the tax credits not recorded on June 30, 2026, since the amounts are not expected to be realized according to the approved technical study.

    		Consolidated			Parent Company
    Description	Base	Unrecognized deferred tax asset		Base	Unrecognized deferred tax asset
    IRPJ	1,841,929	458,966		1,437,407	359,352
    CSLL	1,873,067	168,265		1,533,907	138,052
    Total		627,231			497,404

    The changes to CPC 32 (IAS 12) were made to comply with the OECD Pillar Two rules, which impose a global minimum tax rate on large companies. The rule requires economic groups with revenue above €750 million to assess their effective tax rate in each country where they operate. If this rate is less than 15%, it will be necessary to pay a supplementary tax.

    In Brazil, the rule was implemented by Law No. 15,079/2024, effective from 2025. After evaluation, it was concluded that there were no significant impacts on the Company, which is why there are no effects to be reflected in the financial statements.

    23

    
    
    ACCOMPANYING NOTES

    In thousands of Brazilian reais - R$, except when otherwise stated.

11. INVESTMENTS IN SUBSIDIARIES

    • Accounting policy

      In the individual financial statements, investments in subsidiaries are valued using the equity method (EM) from the date they become their subsidiary. For the purpose of measuring equity income in affiliates, Log-in and its subsidiaries use the same base date.

    • Composition

      Entities	Core business	Number of shares (in units)	% equity interest
      Log-In International GmbH (a)	Logistics	1	100.00
      Log-In Mercosur S.R.L. (b)	Port Assistance	567,819	94.00¹
      Log-In Intermodal Del Uruguay S.A. (c)	Port Assistance	100,000	100.00
      Log-In Navegação Ltda. (d)	Feeder	101,394,963	99.99²
      Log-In Marítima Cabotagem Ltda. (e)	Coastal shipping	166,511,443	99.99²
      Terminal de Vila Velha S.A. (f)	Port and storage	9,766,878	99.90
      Tecmar Transportes Ltda. (g)	Road transport	167,423,024	100.00
      Oliva Pinto Logística Ltda. (h)	Road transport	23,743,911	100,00³

      1. 6% is held by Log-In Intermodal Del Uruguay S.A.

      2. 0.001% held by TVV.

      3. 100% acquired by the subsidiary Tecmar Transportes Ltda.

         1. Log-In International GmbH ("GmbH")

            Company based in Austria, operating in Austria and internationally, for the purpose of managing, acquiring, selling or renting real estate and hiring personnel worldwide in the field of logistics and specifically in relation to Log-In group companies.

         2. Log-In Mercosur S.R.L. ("Log-In Mercosur")

            Company based in Argentina, providing management and logistics services, with specialized advice in the transportation and distribution of materials and equipment, by air, land, sea and waterways in Argentina and internationally, in addition to warehousing and customs clearance.

         3. Log-In Intermodal Del Uruguay S.A. ("Log-In Uruguay")

            Company based in Uruguay, operating domestically and internationally, whose purpose is to invest in other companies, as well as to administer and manage all types of securities investment activities, and purchase, sell, rent, administer, build and conduct operations involving real estate, except for rural properties.

         4. Log-In Navegação Ltda. ("Log-NAV")

            Company headquartered in Brazil, operating its own and third-party vessels for maritime trade in general cargo transportation, coastal shipping, long-haul and waterway navigation, procurement and fitting of vessels, commercial representation, customs clearance, cargo import, export and warehousing, multimodal transportation, port operations and complementary, related or advisory activities.

         5. Log-In Marítima Cabotagem Ltda. ("Log-MAR")

            Company headquartered in Brazil, operating its own and third-party vessels, for maritime trade in general cargo transportation, coastal shipping, long-haul and waterway navigation, procurement and fitting of vessels, commercial representation, customs clearance, cargo import, export and warehousing, multimodal transport operations, port operations and complementary, related or advisory activities.

         6. Terminal de Vila Velha S.A. ("TVV")

            Company headquartered in Brazil, handling port operations and commercial operations for berths 203 and 204 along the Capuaba quay in the Public Port of Vitória, Espírito Santo and supplementary port facilities and equipment for handling containers and general cargo, and multimodal transport operations.

            24

            
            
            ACCOMPANYING NOTES

            In thousands of Brazilian reais - R$, except when otherwise stated.

            In addition, on February 24, 2025, the subsidiary TVV signed a contract to operate a port facility located in the back area of the Public Port of Vitória/ES, for a period of 6 (six) years, with the port authority Vports Autoridade Portuária S.A. This strategic investment aims to meet the growing demand from the import and export cargo market, including containers, granite, steel products and fertilizers. In addition, the new facility will enable significant improvements in service levels and operational efficiency.

         7. Tecmar Transportes Ltda. ("Tecmar")

            A company based in Brazil that operates in the national and municipal road transport of cargo and parcels, general warehousing, storage, loading, unloading, storage and safekeeping of goods of any kind. It also organizes distribution logistics on its own behalf, on behalf of third parties, consignees or shippers, as well as acting as a logistics operator, managing and controlling stock.

         8. Oliva Pinto Logística Ltda. ("OP Logística")

            Company headquartered in Brazil, which operates mainly in the road transport of inter-municipal and inter-state cargo, except for dangerous products and removals.

    • Main balances of subsidy companies

    06.30.2026 12.31.2025 Assets Liabilities Equity Profit (loss) for Assets Liabilities Equity Profit (loss) for the period the year
    Log-In Internacional GmbH	786,704	10,576	776,128	166,544	670,643	4,300	666,343	4,252
    Log-In Mercosur S.R.L.	17,854	7,196	10,658	3,428	15,484	7,635	7,849	7,433
    Log-In Intermodal Del Uruguay S.A.	2,347	668	1,679	600	2,291	701	1,590	878
    Log-In Navegação Ltda.	195,225	181,088	14,137	(15,498)	184,849	157,859	26,990	2,933
    Log-In Marítima Cabotagem Ltda.	329,201	104,367	224,834	28,995	284,921	79,082	205,839	73,515
    Terminal de Vila Velha S.A.	786,110	528,063	258,047	36,839	736,959	483,189	253,770	75,020
    Tecmar Transportes Ltda.	407,613	430,775	(23,162)	(55,659)	386,356	456,450	(70,094)	(110,278)
    Oliva Pinto Logística Ltda.(a)	82,750	38,126	44,624	5,982	85,159	46,516	38,643	11,864

    1. Company accounted for under the equity method in the subsidiary Tecmar and the indirect subsidiary Log-In.

       • Changes in investments in parent companies

    GmbH Log-In Log-In Log- TVV Log-Nav Tecmar Total Mercosur Uruguay Mar
    Balances at 12.31.2024	662,085	475	1,700	172,324	190,257	20,110	70,672	1,117,623
    Equity Method	4,251	6,987	880	73,515	74,947	2,933	(110,278)	53,235
    Proposed dividends and interest on own capital	-	-	-	(40,000)	(18,737)	-	-	(58,737)
    Increase in share capital	-	-	-	-	-	-	23,374	23,374
    Accounting hedging reserve	-	-	-	-	-	3,931	-	3,931
    Goodwill on fixed assets	-	-	-	-	-	-	(21,218)	(21,218)
    Non-competition added value	-	-	-	-	-	-	(232)	(232)
    Capital gain on an indemnifiable asset	-	-	-	-	-	-	(2,223)	(2,223)
    Contingency losses	-	-	-	-	-	-	164,622	164,622
    Deferred taxes - capital gains / losses	-	-	-	-	-	-	(47,923)	(47,923)
    Derivatives	-	-	-	-	7,197	-	-	7,197
    Translation adjustments	-	(84)	(987)	-	-	-	-	(1,071)
    Balances at 12.31.2025	666,336	7,378	1,593	205,839	253,664	26,974	76,794	1,238,578
    Equity Method	166,544	3,222	600	28,995	36,804	(15,498)	(55,659)	165,008
    Proposed Dividends	(56,756)	-	-	(10,000)	(40,000)	-	-	(106,756)
    Accounting hedging reserve	-	-	-	-	-	2,645	-	2,645
    Advance for future capital increase	-	-	-	-	-	-	102,595	102,595
    Derivatives	-	-	-	-	7,476	-	-	7,476
    Goodwill on fixed assets	-	-	-	-	-	-	(10,609)	(10,609)
    Non-competition added value	-	-	-	-	-	-	(116)	(116)
    Capital gain on an indemnifiable asset	-	-	-	-	-	-	(19,394)	(19,394)
    Contingency losses	-	-	-	-	-	-	27,843	27,843
    Deferred taxes - capital gains / losses	-	-	-	-	-	-	774	774
    Translation adjustments	-	(583)	(508)	-	-	-	-	(1,091)
    Balance at 06.30.2026	776,124	10,018	1,685	224,834	257,944	14,121	122,228	1,406,954
    Investments	776,124	10,018	1,685	224,834	257,944	14,121	145,392	1,430,118
    Investment loss (liability)	-	-	-	-	-	-	(23,164)	(23,164)
    								25

    
    
    ACCOMPANYING NOTES

    In thousands of Brazilian reais - R$, except when otherwise stated.

12. PROPERTY, PLANT AND EQUIPMENT

    • Accounting policy

      Property, plant and equipment are stated at acquisition costs or construction costs, which also include directly attributable costs incurred so that the asset is operational, less accumulated depreciation and impairment losses.

      Expenses with major maintenance (docking) planned to restore or maintain the original performance standards of the vessels are recognized in property, plant and equipment. These expenses are depreciated over the forecast period until the next major maintenance. Maintenance expenses that do not meet these requirements are recognized as costs in the income statement for the period.

      Spare parts with a useful life of more than one year and which can only be used in connection with items of property, plant and equipment are recognized and depreciated along with the main asset. These items are depreciated over the useful life of the corresponding fixed asset.

      Property, plant and equipment are depreciated using the straight-line method, based on the estimated useful life, from the date on which the assets are available for use in their intended use and are capitalized. The exception is land which is not depreciated.

      An item of property, plant and equipment is written off after disposal or when there are no future economic benefits resulting from the continued use of the asset. The gain or loss on the sale or write-off of an asset is determined by the difference between the amounts received on the sale and the carrying amount of the asset and is recognized in the profit or loss.

    • Critical accounting estimates and judgments

      The estimated useful life, residual values and depreciation method are reviewed at the end of the reporting period and the effect of any changes in estimates is accounted for prospectively. Management reviewed accounting estimates related to the economic useful life of its own vessels.

      Non-financial assets are assessed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized when the carrying amount of the asset exceeds its recoverable value, which is the higher of the fair value of an asset less costs to sell and its value in use.

      As of June 30, 2026 and December 31, 2025, the Company's management had not identified any indicators of impairment.

    • Composition

      	Average annual rates	Consol	dated	Parent Co	mpany
      		06.30.2026	12.31.2025	06.30.2026	12.31.2025
      Assets in operation: Vessels	4%	1,113,738	1,206,353	164,571	164,571
      Buildings and facilities	6%	203,525	203,525	18,949	18,949
      Machinery and Equipment	7%	272,227	271,947	28,213	28,213
      Docking	20%	288,865	300,005	155,265	155,265
      Furniture and fixtures	10%	19,436	19,168	9,995	9,995
      Data processing equipment	20%	55,920	55,920	25,903	25,903
      Improvements in properties leased from third parties	10%	39,172	38,950	7,592	7,592
      Vehicles	20%	434,952	425,364	96	96
      Other assets	20%	4,423	4,696	2,988	2,988
      		2,432,258	2,525,928	413,572	413,572
      Fixed assets under construction		168,886	63,751	40,276	8,878
      Fixed assets cost		2,601,144	2,589,679	453,848	422,450
      Accumulated depreciation		(1,181,641)	(1,193,998)	(299,190)	(286,285)
      Net Property, plant and equipment		1,419,503	1,395,681	154,658	136,165

      i

      26

      
      
      ACCOMPANYING NOTES

      In thousands of Brazilian reais - R$, except when otherwise stated.

    • Changes

      				Consolidated					Parent Company
      		Buildings	Machinery	Improvements to	Other	Fixed assets
      	Vessels	and	and	Chartered Vessels	assets	under	Total		Total
      		facilities	Equipment			construction

      Cost
      Balances at 1,206,354	198,508	227,337	300,005	534,665	59,599	2,526,468	397,816
      Additions -	-	-	-	-	68,057	68,057	24,634
      Transfers -	5,017	49,455	-	9,433	(63,905)	-	-
      Reversal -	-	(4,845)	-	-	-	(4,845)	-
      Balances at 1,206,354	203,525	271,947	300,005	544,098	63,751	2,589,680	422,450
      Additions -	-	-	-	-	117,172	117,172	31,398
      Transfers -	-	280	-	11,754	(12,037)	(3)	-
      Reversal (92,616)	-	-	(11,140)	(1,949)	-	(105,705)	-
      Balances at 1,113,738	203,525	272,227	288,865	553,903	168,886	2,601,144	453,848
      Accumulated depreciation
      Balances at (389,162)	(59,482)	(96,056)	(157,354)	(334,051)	- (1,036,105)		(262,336)
      Additions (35,142)	(11,917)	(12,603)	(53,210)	(49,569)	- (162,440)		(23,947)
      Reversal -	-	4,546	-	-	- 4,546		-
      Balances at (424,304)	(71,399)	(104,113)	(210,564)	(383,620)	- (1,193,999)		(286,283)
      Additions (22,805)	(6,129)	(8,378)	(18,890)	(25,530)	- (81,732)		(12,907)
      Reclassifications -	-	-	-	-	- -		-
      Reversal 81,203	-	-	11,140	1,747	- 94,090		-

      12/31/2024

      12/31/2025

      06/30/2026

      12/31/2024

      12/31/2025

      Balances at 06/30/2026	(365,906)	(77,528)	(112,491)	(218,314)	(407,403)	-	(1,181,641)	(299,190)
      Total	747,832	125,997	159,736	70,551	146,500	168,886	1,419,503	154,658

      The main fixed assets under construction as of June 30, 2026 are:

      • R$92,295 resulting from the pre-docking of vessels.

      • R$8,270 resulting from the refurbishment of the docking dolphin at subsidiary TVV;

      • R$6,129 resulting from the partial refurbishment of the yard at subsidiary TVV;

      • R$5,865 resulting from the acquisition of a fire protection system.

    Allowance for estimated losses on the realization of assets under construction: Hulls EI 506, EI 507 and EI 508

    On July 12, 2017, the Company rescinded the contract for the construction of three (3) vessels at the EISA shipyard; consequently, a provision for estimated losses was recorded with the realization of those assets, net of the receivable indemnification amount, in the total amount of R$57,428, as below:

    Consolidated and Parent Company
    Description	Hulls EI-506, EI-507 and EI-508	Indemnity for breach of contract, receivable	Materials and equipment at the shipyard (a)	Reversal of estimated loss (b)	Provision for estimated losses

    Advances made to 420,461	(59,632)	(22,236)	(281,165)	57,428
    Capitalized 164,335	-	-	(164,335)	-
    584,796	(59,632)	(22,236)	(445,500)	57,428

    "EISA"

    charges

    1. On November 30, 2007, Log-In entered into a Contract for the Construction of Vessels to Order ("Construction Contract") with EISA, through which EISA undertook to "build, launch, equip, assemble, test and deliver to the CONTRACTING PARTY [Log-In], 05 (five) 2,700 (two thousand seven hundred) TEU container ships, made of steel (...)", where the hulls would be identified by the numbers EI-504, EI -505, EI-506, EI-507 and EI-508.

       In 2016, the shipyard filed for bankruptcy protection and halted its operations without delivering 3 ships, referring to hulls 506, 507 and 508, in addition to their respective parts. Log-In terminated the construction contract and, in 2017, after carrying out an impairment test on the assets, entered the residual balance in fixed assets referring to the amounts that, at the time, the Company believed it would be able to recover from the shipyard. The aforementioned contract provided that in the event of default by the shipyard, Log-In would have the right to assume ownership of the parts acquired by the shipyard with the funds advanced by the Company under the construction contract or reverse the corresponding amount in indemnity.

       An EISA Creditors' Meeting should have taken place in the first half of 2021, in which the shipyard's controller would present a credible recovery plan that would address the issue of parts, but this did not happen. So far, EISA has not presented a court-supervised reorganization plan with feasible conditions to pay creditors, including Log-In. As a result, the negotiations that had been held with EISA to

       27

       
       
       ACCOMPANYING NOTES

       In thousands of Brazilian reais - R$, except when otherwise stated.

       remove parts from the shipyard proved to be unfeasible.

       In this context, and after analysis by the Company's Management, was resolved at a board meeting held on September 27, 2021, to waive the parts and convert the corresponding amounts into indemnity. At the same time, the EISA RJ process will be monitored in order to collect Log-In's credits, which have already been recognized in the lawsuit and the above amounts are 100% provisioned in the financial statements.

       In 2023, the Creditors' Meeting was called for the second time, at which it was decided to approve the reorganization plan for Classes I (labor), III (unsecured) and IV (unsecured EPP/ME). For Class II (in-rem guarantees), there was a voting deadlock between the parties represented by EISA's creditors and Log-In, resulting in the Reorganization Plan not being approved. EISA then submitted a request for "cram down" for the approval of the Reorganization Plan, which was approved on August 8, 2023.

    2. At the close of the financial year on December 31, 2025, Log-In classified as a definitive loss the deduction from the credits of the effective portion that exceeds the commitment assumed by EISA under the recovery agreement.

13. INTANGIBLE ASSETS

    • Accounting policy

      Intangible assets with defined useful lives acquired separately are recorded at cost, less amortization and accumulated impairment losses. Amortization is recognized on a straight-line basis according to the estimated useful lives of the assets. The estimated useful life and the amortization method are reviewed at the end of each year and the effect of any changes on the estimates is accounted for prospectively. Intangible assets under development (systems) are the application of the results of research or other knowledge in a plan or project aimed at the production of systems or substantial improvement, before the start of their use, characterized as referred to in CPC 04 (R1). Upon completion of the project and its availability to obtain the benefits generated by the Company, the full amount is recognized as an intangible asset (systems) and amortized from that date.

      An intangible asset is written off on disposal or when there are no future economic benefits resulting from the use or disposal. Gains or losses resulting from the write-off of an intangible asset, measured by the difference between the net proceeds from the sale and the book value of the asset, are recognized in the income statement when the asset is written off.

      Upon the acquisition of an investment in a subsidiary, associate or joint venture, any excess found in the investment cost on the interest held by the Company in the net fair value of the investee's identifiable assets and liabilities is recognized as goodwill, which is included in the carrying amount in the consolidated financial statements as an intangible asset. If there is objective evidence that the investment in a subsidiary, associate or joint venture is impaired, the requirements of IAS 36 (CPC 01 (R1)) are applied to determine the need to recognize any impairment loss related to the investment in the Company. Annually, the total carrying amount of the investment (including goodwill classified as intangible assets in the consolidated financial statements) is tested for impairment in accordance with IAS 36 as a single asset, comparing its recoverable amount with its carrying amount. Recognized impairment losses are not allocated to any asset, including goodwill that forms part of the carrying amount calculated on the acquisition. Any reversal of this impairment loss is recognized in accordance with IAS 36 to the extent that the recoverable amount of the investment subsequently increases.

      Composition

      				Consolidated				Parent Company
      	Systems	Goodwill on Investments	Client portfolio	Non-competition	Intangible assets under development	Total		Total

      Balances at 159,715		60,082	22,480	5,401	8,521	256,199	145,640
      Additions -		-	-	-	14,936	14,936	8,252
      Transfers 13,789		-	-	-	(13,789)	-	-
      Balances at 173,504		60,082	22,480	5,401	9,668	271,135	153,892
      Additions -		-	-	-	5,616	5,616	3,782
      Transfers 5,083		-	-	-	(5,083)	-	-
      Balances at 178,587		60,082	22,480	5,401	10,201	276,751	157,674
      Accumulated amortization
      Balances at 12/31/2024 Additions	(131,834) (9,337)	- -	(7,194) (3,597)	(2,052) (929)	- -	(141,080) (13,863)	(118,816) (6,979)
      Balances at 12/31/2025	(141,171)	-	(10,791)	(2,981)	-	(154,943)	(125,795)
      Additions	(4,699)	-	(1,797)	(464)	-	(6,960)	(3,317)

      Cost

      12/31/2024

      12/31/2025

      06/30/2026

      Balances at 06/30/2026	(145,870)	-	(12,588)	(3,445)	-	(161,903)	(129,112)
      Total	32,717	60,082	9,892	1,956	10,201	114,848	28,562

      Average amortization rate

      20% 20% 20% 20%

      28

      
      
      ACCOMPANYING NOTES

      In thousands of Brazilian reais - R$, except when otherwise stated.

      The main intangible assets under development on June 30, 2026 are:

      • R$4,920 resulting from improvements in billing and administrative systems;

      • R$1,630 resulting from the expansion of the CRM Sales and Customer Service system.

14. LEASES

    • Accounting policy

      When a contract starts, the Company assesses whether an instrument is, or contains, a lease. A contract is or contains a lease when the Company obtains the right to control the use of an identified asset, for a period, in exchange for a consideration.

      The Company recognizes the asset relating to the right-of-use and a liability corresponding to the lease on the date of the start of the contract, except for short-term leases (defined as leases with a lease term of a maximum of 12 months) and leases of low value assets (such as tablets and personal computers, small items of office furniture and telephones). Right-of-use assets are initially measured at cost, which includes the initial amount of the lease liability adjusted by any lease payment made on or before the commencement date. The asset is subsequently depreciated on a straight-line basis during the contractual period or until the end of the asset's useful life.

      A lease liability is initially measured at the present value of the lease payments, discounted using the implied interest rate of the lease or, if that rate cannot be immediately determined, based on the Company's incremental funding rate. These are classified as current or non-current according to the due dates of the considerations.

      Lease payments included in the measurement of the lease liability comprise: (i) fixed payments, including fixed payments in substance; (ii) variable lease payments that depend on an index or rate; and (iii) the exercise price of a purchase or renewal option, when it is probable that the contractual option will be exercised and it under the control of the Company.

      The lease liability is measured at amortized cost using the effective interest method and remeasured when there is a change in future lease payments resulting from a change in an index or rate. When the lease liability is recalculated, a corresponding adjustment is made to the carrying amount of the lease agreement asset or is recognized directly in the income statement for the period if the carrying amount of the asset has already been reduced to zero.

    • Critical accounting estimates and judgments

      Incremental rates are estimated based on the risk-free nominal interest rate, plus the Company's credit risk premium, adjusted to further reflect the specific conditions and characteristics of the lease, such as the risk within the country's economic environment, the impact of guarantees, currency, term and start date of each contract.

      29

      
      
      ACCOMPANYING NOTES

      In thousands of Brazilian reais - R$, except when otherwise stated.

      Consolidated

      Parent

      Company

      Container

      equipment

      Office

      real estate

      Vehicles

      Real

      Port estate at Port

      terminals port equipment

      Equip.

      IT/Systems

      Vessel Total

      Total

    • Composition and changes in right-of-use assets

      Cost					terminals
      Balances at 12.31.2024	291,911	76,172	18,834	96,550	21,921	30,611	9,738	33,910	579,647	352,271
      Additions	77,387	16,306	523	103,753	-	12,603	1,625	-	212,197	85,203
      Balances at 12.31.2025	369,298	92,478	19,357	200,303	21,921	43,214	11,363	33,910	791,844	437,474
      Additions	7,264	6,583	2,129	25,494	-	19,590	1,135	-	62,195	12,133
      Reversal	-	-	-	-	-	-	-	(33,910)	(33,910)	-
      Other	-	(302)	-	-	-	296	-	-	(6)	-
      Balance at 06.30.2026	376,562	98,759	21,486	225,797	21,921	63,100	12,498	-	820,123	449,607
      Accumulated amortization
      Balances at 12.31.2024	(204,639)	(47,206)	(7,448)	(12,978)	(21,921)	(23,415)	(5,289)	(12,566)	(335,462)	(255,520)
      Additions	(65,142)	(19,129)	(4,302)	(3,578)	-	(11,124)	(2,502)	(3,501)	(109,278)	(72,771)
      Balances at 12.31.2025	(269,781)	(66,335)	(11,750)	(16,556)	(21,921)	(34,539)	(7,791)	(16,067)	(444,740)	(328,291)
      Additions	(35,675)	(8,817)	(2,196)	(9,735)	-	(6,327)	(1,467)	(1,450)	(65,667)	(38,828)
      Reversal	-	-	-	-	-	-	-	17,517	17,517	-
      Other	-	294	-	-	-	(97)	-	-	197	-
      Balance at 06.30.2026	(305,456)	(74,858)	(13,946)	(26,291)	(21,921)	(40,963)	(9,258)	-	(492,693)	(367,119)
      	71,106	23,901	7,540	199,506	-	22,137	3,240	-	327,430	82,488
      Average rates of 18.09% 35.40% 20.00% 7.94% - 49.58% 42.78% - amortization

    • Composition of liabilities with leases

      Consolidated

      06.30.2026

      Parent Company

      12.31.2025

      06.30.2026

      12.31.2025

      Container equipment 78,930 115,187 78,930 115,186

      Vehicles 9,346 9,639 - -

      Office real estate 25,406 28,576 7,758 5,743

      Port terminal (a) 188,729 169,084 - -

      Port equipment 23,291 9,515 320 700

      Systems 4,005 4,631 3,047 3,587

      329,707

      340,698

      90,055

      125,216

      Vessels - 4,066 - -

      (a) On February 24, 2025, the subsidiary TVV signed a contract to operate a port facility located in the retro area of the Public Port of Vitória/ES, for a period of 6 (six) years, with the port authority Vports.

    • Changes in liabilities with leases

      Consolidated

      Parent Company

      Transactions

      Balances at 12.31.2025 340,698 125,216

      Addition 62,189 12,133

      Interest and exchange rate variance in the period. 15,825 (2,698)

      Payments in the period (89,005) (44,596)

      Balance at 06.30.2026

      329,707

      90,055

      Current 89,860 47,759

      Non-current 239,847 42,296

    • Schedule of the maturities of lease liabilities

      Consolidated

      Parent Company

      2026 59,314 36,060

      2027 45,493 14,644

      2028 29,218 6,259

      2029 28,857 6,467

      2030 to 2048 166,825 26,625

      Balance at 06.30.2026

      329,707

      90,055

      30

      
      
      ACCOMPANYING NOTES

      In thousands of Brazilian reais - R$, except when otherwise stated.

    • Short-term lease payments and low-value underlying assets

      Consolidated

      2Q26

      2Q25

      6M26

      6M25

      Short-term lease costs and low-value underlying assets. 47,201 28,118 74,629 30,954

      Parent Company
      	2Q26	2Q25	6M26	6M25
      Short-term lease costs and low-value underlying assets.	61,234	37,900	121,929	49,413

    • The table below shows the rates used for the terms of the contracts:

      Contract terms Rate % p.a.