1Q25 Quarterly Results

Interim financial information for the quarter ended march 31, 2025, accompanied by the review report on the quarterly information

Padtec Holding S.A. Table of contents

Page

Report on the review of the quarterly information 2

Individual and consolidated interim financial information 4

Management's explanatory notes to the individual and consolidated interim financial information 10

To:

Shareholders and Managers of Padtec Holding S.A. Campinas - SP

Introduction

We have reviewed the individual and consolidated interim financial information of Padtec Holding S.A. (the "Company"), contained in the quarterly information report (ITR) for the quarter ended march 31, 2025, which includes the balance sheet as of march 31, 2025, and the related statements of income and comprehensive income, changes in equity, and cash flows for the three-month period then ended, including the explanatory notes.

Management of the Company is responsible for the preparation of the individual and consolidated interim financial information in accordance with Technical Pronouncement CPC 21(R1) and International Standard IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board (IASB), as well as for presenting such information in a manner consistent with the rules issued by the Brazilian Securities Commission (CVM) applicable to the preparation of Quarterly Information (ITR). Our responsibility is to express a conclusion on this interim financial information based on our review.

Scope of the Review

We conducted our review in accordance with Brazilian and international standards for reviewing interim information (NBC TR 2410 - Review of Interim Financial Information Performed by the Entity's Auditor and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim information consists of making inquiries, mainly of the persons responsible for financial and accounting matters and applying analytical and other review procedures. The scope of a review is significantly smaller than that of an audit conducted in accordance with auditing standards and, consequently, did not allow us to obtain assurance that we became aware of all significant matters that could be identified in an audit. Therefore, we do not express an audit opinion.

Conclusion on the Individual and Consolidated Interim Financial Information

Based on our review, we are not aware of any matter that would lead us to believe that the individual and consolidated interim financial information included in the Quarterly Information referred to above has not been prepared, in all material respects, in accordance with Technical Pronouncement CPC 21(R1) and International Standard IAS 34, applicable to the preparation of Quarterly Information (ITR), and presented consistently with the rules issued by the Brazilian Securities Commission (CVM).

Emphasis of Matter

Restatement of the Consolidated Statement of Value Added as of March 31, 2024

As disclosed in Explanatory Note No. 2.5, due to certain reclassifications, the consolidated statement of value added for the prior period, presented for comparison purposes and as supplementary information, is being restated in accordance with CPC 23 - Accounting Policies, Changes in Accounting Estimates and Correction of Errors, and CPC 26 (R1) - Presentation of Financial Statements. Our opinion is not modified in respect of this matter.

Other Matters

Statements of Value Added

The Quarterly Information referred to above includes the individual and consolidated statements of value added (DVA) for the quarter ended March 31, 2025, prepared under the responsibility of the Company's management and presented as supplementary information for purposes of IAS 34. These statements were subjected to review procedures performed together with the review of the Quarterly Information, with the objective of expressing a conclusion as to whether they are consistent with the interim financial information and accounting records, as applicable, and whether their form and content comply with the criteria established in Technical Pronouncement CPC 09(R1) - Statement of Value Added. Based on our review, we are not aware of any facts that lead us to believe that these statements of value added have not been prepared, in all material respects, in accordance with the criteria set out in this Standard and in a manner consistent with the individual and consolidated interim accounting information taken as a whole.

São Paulo, May 7, 2025.

Cassiano Gonçalves Alvarez Accountant CRC 1SP 219.153/O-3

RSM Brasil Auditores Independentes Ltda. CRC 2SP-030.002/O-7

Parent Company Consolidated

The explanatory notes are an integral part of the individual and consolidated interim financial information.

Parent Company Consolidated

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

139,189 135,825 689,156 719,682

The explanatory notes are an integral part of the individual and consolidated interim financial information.

The explanatory notes are an integral part of the individual and consolidated interim financial information.

Subsidiary Consolidated

Loss for the period

Foreign Currency Translation Adjustments of Foreign Subsidiaries

Cash Flow Hedge

Comprehensive Income for the Period

The explanatory notes are an integral part of the individual and consolidated interim financial information.

(Amounts stated in thousands of BRL, unless otherwise indicated)

Parent Company and Consolidated

The explanatory notes are an integral part of the individual and consolidated interim financial information.

8

Cash Flows from Operating Activities

Parent Company Consolidated Note 03/31/2025 03/31/2024 03/31/2025 03/31/2024

Write-off of Property, Plant and Equipment and Intangible Assets

Decrease (Increase) in Operating Assets:

- - 510 945

In

Net cash generated by / (invested in) operational activities

Cash flows from investing activities

Acquisition of Property, Plant and Equipment and Intangible Assets

Net cash invested in financing activities

Cash and cash equivalents at the beginning of the

- - 158,084 50,456

period

Cash and cash equivalents at the end of the period - 2 116,099 29,937

Non-Cash Transactions

Right-of-Use Assets - Leases - - - 103

The explanatory notes are an integral part of the individual and consolidated interim financial information.

(Amounts stated in thousands of BRL, unless otherwise indicated)

Parent Company Consolidated 03/31/2025 03/31/2024 03/31/2025 03/31/2024

(Restated)

(Amounts stated in thousands of BRL, unless otherwise indicated)

1. General Information
   1. Operational context

      A Padtec Holding S.A. ("Company," B3: PDTC3) began its operations as an investment company in internet projects in 2000, the year it went public on B3 S.A. - Brasil, Bolsa, Balcão ("B3").

      In June 2020, the Company completed the process of incorporating shares issued by Padtec S.A. and the subsequent conversion of Padtec S.A. into its wholly owned subsidiary, which is currently its sole investment.

      Padtec S.A. was founded in 2001 with the goal of creating high-capacity connections throughout Brazil, the Americas, and worldwide.

      The Company holds direct and indirect interests in the following subsidiaries and investment fund:

      Equity Interest (%)

      03/31/2025				12/31/2024
      	Direct		Indirect		Direct		Indirect
      Padtec S.A. (a)	100.00%		-		100.00%		-
      Padtec Argentina (Branch) (b)	-		100.00%		-		100.00%
      Padtec North America LLC (c)	-		100.00%		-		100.00%
      Padtec Colômbia SAS (d)	-		100.00%		-		100.00%
      Padtec Chile SpA (e)	-		100.00%		-		100.00%
      Padtec Peru SAC (f)	-		100.00%		-		100.00%
      PDTC México S. de R.L. de CV (g)	-		100.00%		-		0.00%
      Padtec Soluções para Redes Ltda. (h)	-		100.00%		-		100.00%

      FIDC FUNTTEL PADTEC

      - Receivables Investment Fund (i)

      - 20.00% - 20.00%

      1. Padtec S.A. is a privately held company engaged in the development, manufacturing, and commercialization of turnkey solutions for optical systems. Its portfolio includes equipment for corporate access, Data Center Interconnect, Storage Area Network Extension, metropolitan networks, and long-distance multi-terabit terrestrial networks, in addition to offering platforms and solutions for the telecommunications ecosystem.

      2. Padtec Argentina (Branch) is an operating company established in Argentina, incorporated in 2007. Its primary purpose is to engage in commercial activities, resell products of the Padtec Group, and provide implementation, operation, and maintenance services. The entirety of its shares is held by Padtec S.A.

      3. Padtec North America LLC is an operating company established in the United States of America, in the state of Georgia, incorporated in 2014. Its primary purpose is to engage in commercial activities, resell products of the Padtec Group, and provide implementation, operation, and maintenance services. The entirety of its shares is held by Padtec S.A.

      4. Padtec Colombia SAS is an operating company established in Colombia, incorporated in 2014. Its primary purpose is to engage in commercial activities, resell products of the Padtec Group, and provide implementation, operation, and maintenance services. The entirety of its shares is held by Padtec S.A.

      5. Padtec Chile SpA is an operating company established in Chile, incorporated in 2019, with 100% of its shares subscribed by Padtec Branch Argentina. Its primary purpose is to engage in commercial activities, resell products of the Padtec Group, and provide implementation, operation, and maintenance services.

         Management's explanatory notes to the individual and consolidated interim financial information for the period ended march 31, 2025

         (Amounts stated in thousands of BRL, unless otherwise indicated)

      6. Padtec Peru SAC is an operating company established in Peru, incorporated in 2022, with 99% of its shares subscribed by Padtec S.A. and 1% by Padtec Colombia. Its primary purpose is to engage in commercial activities, resell products of the Padtec Group, and provide implementation, operation, and maintenance services.

      7. PDTC México S. de R.L. de CV is an operating company established in Mexico, incorporated in February 2025, with 99% of its shares subscribed by Padtec S.A. and 1% by Padtec Soluções para Redes Ltda. Its primary purpose is to conduct commercial activities, resale of Padtec Group products, and the provision of implementation, operation, and maintenance services.

      8. Padtec Soluções para Redes Ltda. ("Padtec Redes") is a privately held company engaged in the rental of equipment and solutions for optical systems. Its portfolio includes leased equipment for corporate access, Data Center Interconnect, Storage Area Network Extension, metropolitan networks, and long-haul terrestrial multi-terabit networks. The entirety of its shares is held by Padtec S.A.

      9. FIDC Funttel Padtec - Credit Rights Investment Fund was established with the objective of generating returns for its shareholders through the investment of its funds primarily in credit rights arising from transactions under Equipment Purchase and Sale Agreements entered between the Padtec S.A., as the seller, and its customers, as buyers. The fund is managed by Finvest D.T.V.M. Ltda., and its operations began in April 2022. The paid-in capital of FIDC Funttel Padtec will be up to BRL 100 million, with contributions of up to BRL 80 million from BNDESPAR (senior quotas) and up to BRL 20 million from Padtec S.A. (subordinated quotas, presented in the investee's individual balance sheet under the group of securities). The senior quotas are presented in the fund as equity and, in the Company's consolidated interim financial information, under liabilities (Explanatory Note No. 18).

2. Presentation of the Individual and Consolidated Interim Financial Information
   1. Basis of Preparation

      The individual and consolidated interim financial information has been prepared in accordance with IAS 34 - "Interim Financial Reporting," issued by the International Accounting Standards Board ("IASB"), and with the Technical Pronouncement CPC 21 (R1) - "Interim Financial Reporting," and is presented in accordance with the rules approved and issued by the Brazilian Securities Commission ("CVM") applicable to the preparation of the Quarterly Information - ITR.

      The accounting policies adopted in the preparation of the individual and consolidated interim financial information are consistent with those adopted and disclosed in the financial statements for the year ended December 31, 2024. Therefore, both should be read together.

      The presentation of the Statement of Value Added (DVA), both individual and consolidated, is required by Brazilian corporate law and by the accounting practices adopted in Brazil applicable to publicly held companies. IFRS do not require the presentation of this statement. As a result, under IFRS, this statement is presented as supplementary information, without prejudice to the set of interim financial information.

      The consolidated interim financial information includes the financial information of Padtec Holding S.A. and the entities over which the Company holds, directly or indirectly, control, as detailed in Explanatory Note No. 1, whose fiscal years and accounting practices are aligned. Direct and indirect subsidiaries are consolidated from the acquisition date, which corresponds to the date on which the Company obtained control.

      The Company's Management states that all relevant information relating to the interim financial information is disclosed and corresponds to the information used in its management.

      Management's explanatory notes to the individual and consolidated interim financial information for the period ended march 31, 2025

      (Amounts stated in thousands of BRL, unless otherwise indicated)

      Authorization for the issuance of this individual and consolidated interim financial information was granted by Management on May 7, 2025.

   2. Measurement Basis

      The individual and consolidated interim financial information has been prepared based on historical cost, except for the following items recognized in the balance sheets: (i) derivative financial instruments measured at fair value, and (ii) non-derivative financial instruments measured at fair value through profit or loss. The classification of fair value measurement within levels 1, 2, or 3 (depending on the observability of the inputs used) is presented in Explanatory Note No. 34.

   3. Use of Estimates and Judgments

      The preparation of the individual and consolidated interim financial information requires Management to make judgments and adopt estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, revenues, and expenses.

      Actual results may differ from these accounting estimates. Accordingly, Management continually reviews the estimates and assumptions applied, based on historical experience and other relevant factors. Adjustments arising from the review of such estimates are recognized in the period in which the estimates are revised and, if applicable, in future periods.

      The main accounting areas that require the use of estimates and assumptions, which are subject to a higher degree of uncertainty and carry a risk of resulting in material adjustments if significant changes occur in future periods, include:

      • Explanatory Note No. 6 - Accounts Receivable from Customers (Expected credit losses: key assumptions regarding the expected credit loss)

      • Explanatory Note No. 7 - Inventories (Provision for obsolescence and slow-moving items: key assumptions regarding the expected inventory loss)

      • Explanatory Note No. 13 - Property, Plant and Equipment (Application of defined useful lives and key assumptions regarding recoverable amounts)

      • Explanatory Note No. 14 - Intangible Assets (Key assumptions regarding recoverable amounts)

      • Explanatory Note No. 16 - Lease Operations (Determination of whether a contract contains a lease)

      • Explanatory Note No. 22.1 - Various Provisions (Recognition and measurement: key assumptions regarding the probability of outflows of resources)

      • Explanatory Note No. 22.2 - Provisions for Labor, Tax, and Civil Risks (Recognition and measurement: key assumptions regarding the probability of outflows of resources)

      • Explanatory Note No. 24 - Private Pension Plan (Key actuarial assumptions used in measuring defined benefit obligations)

   4. Functional and Presentation Currency

      The individual and consolidated interim financial information is presented in Reais (BRL), which is the functional and presentation currency of the Company (Parent Company). The functional currency of the subsidiaries established in the United States and Argentina is the U.S. dollar; in Colombia, it is the Colombian peso; in Chile, it is the Chilean peso; in Peru, it is the Peruvian sol; and in Mexico, it is the Mexican peso. The effects of translating the financial statements of foreign subsidiaries from their functional currencies into reais are recorded in equity as Other Comprehensive Income - Foreign Currency Translation Adjustments. All amounts have been rounded to the nearest thousand, except when otherwise indicated.

      Management's explanatory notes to the individual and consolidated interim financial information for the period ended march 31, 2025

      (Amounts stated in thousands of BRL, unless otherwise indicated)

   5. Restatement of the Statement of Value Added (DVA) as of March 31, 2024

During the preparation of the interim financial information for the period ended March 31, 2025, specifically related to the Statement of Value Added (DVA), the Company's Management identified a reclassification to be made in the comparative information. As a result, it revisited the accounting practices applied in the preparation of the individual and consolidated interim financial information, in accordance with the applicable IFRSs and CPCs.

The reclassification made is described below:

The individual and consolidated interim financial information has been prepared based on the same accounting policies described in Explanatory Notes No. 3.1 to No. 3.18 disclosed in the financial statements for the year ended December 31, 2024, published on March 25, 2025.

(Amounts stated in thousands of BRL, unless otherwise indicated)

1. Cash and Cash Equivalents

   03/31/2025		12/31/2024
   9,449		9,715
   106,650		148,369
   116,099		158,084

   Consolidated

   Demand bank deposits

   Cash equivalents / Highly liquid financial investments

   The cash equivalents as of March 31, 2025 refer to investments in CDBs (Bank Deposit Certificates), repurchase agreements, and fixed-income securities held at top-tier financial institutions, yielding between 97% and 104% of the CDI (Interbank Deposit Certificate) rate, and are subject to a low risk of changes in value (97% to 105% of the CDI as of December 31, 2024).

2. Marketable Securities Consolidated

   	03/31/2025		12/31/2024
   FIDC Funttel Padtec - Credit Rights Investment Fund
   Fund Units	21,072		1,569
   Federal Government Bonds	276		268
   	21,348		1,837

   The investment in the Receivables Investment Fund is diversified across quotas of other investment funds with immediate liquidity, government securities, and receivables arising from transactions generated by the investee Padtec S.A. (Explanatory Note No. 18).

3. Trade accounts receivable

   Consolidated

   	03/31/2025		12/31/2024
   Accounts Receivable: Denominated in local currency	100,364		79,535
   Denominated in foreign currency (a)	41,642		49,771
   FIDC FUNTEL - Padtec (b)	56,489		49,775
   	198,495		179,081
   (+) Oi Judicial Recovery (c)	2,822		2,822
   (+) Unbilled services rendered (d)	-		10,795
   (-) Provision for revenue recognition outside the accrual period (e)	(646)		(2,535)
   (-) Provision for expected credit losses (f)	(7,058)		(7,300)
   	193,613		182,863
   Current assets	147,286		142,504
   Non-current assets	46,327		40,359
   	193,613		182,863

   1. In the consolidated statements, this is represented by USD 7,252 thousand as of March 31, 2025 (USD 8,038 thousand as of December 31, 2024).

      Management's explanatory notes to the individual and consolidated interim financial information for the period ended march 31, 2025

      (Amounts stated in thousands of BRL, unless otherwise indicated)

   2. These amounts refer to receivables related to the consolidation of FIDC FUNTTEL PADTEC, as disclosed in Explanatory Note No. 18.

   3. The Oi Group filed for judicial reorganization on June 20, 2016, under the Brazilian Judicial Reorganization and Bankruptcy Law (Law No. 11.101/2005). On December 20, 2017, the subsidiary Padtec S.A. adhered to Clause 4.3.6 of Oi's Judicial Reorganization Plan, which establishes that: "The payments of the securities subject to the judicial reorganization will be made with a grace period of 20 years from the date of the court approval, in five equal and successive annual installments, adjusted by the TR rate per year, with the first installment due in January 2039." Due to the risks associated with this receivable, the Company chose to record a provision for loss, which is included in item (f).

   4. This refers to the recognition of revenue from services rendered but not yet invoiced within the same reporting period.

   5. It also includes a provision for the reversal of revenue recognized outside the correct reporting period ("cut-off" adjustments).

   6. The expected credit loss provisions are based on the assumptions set forth in CPC 48 - Financial Instruments and consider the analysis of historical loss levels, as well as the monitoring and assessment of each customer's individual situation. Management constantly monitors all receivables and the financial situation of its customers, along with the quality of credit granted. Based on these assessments, Management believes that the amounts provisioned as of March 31, 2025, are sufficient to cover potential losses from defaults.

   Below are the amounts of Accounts Receivable from Customers, broken down by aging of past-due and not yet due balances:

   Consolidated

   	03/31/2025		12/31/2024
   To be due	174,512		150,719
   Overdue from 1 to 30 days	3,291		9,534
   Overdue from 31 to 60 days	4,243		4,547
   Overdue from 61 to 90 days	1,604		3,473
   Overdue from 91 to 120 days	4,013		925
   Overdue from 121 to 150 days	539		1,661
   Overdue from 151 to 180 days	2,203		1,800
   Overdue from 181 to 360 days	4,024		4,467
   Overdue for more than 361 days	4,066		1,955
   	198,495		179,081

   Management's explanatory notes to the individual and consolidated interim financial information for the period ended march 31, 2025

   (Amounts stated in thousands of BRL, unless otherwise indicated)

   The changes in the expected credit loss provision are as follows:

   Consolidated 12/31/2023 12/31/2024 Opening balance Additions to the Reversals Write-offs Closing balance

   Estimated credit losses

   provision

   (2,982) (5,030) 452 260 (7,300)

   for doubtful accounts

   Total (2,982) (5,030) 452 260 (7,300) Consolidated 12/31/2024 03/31/2025 Opening balance Additions to the Reversals Write-offs Closing balance

   Estimated credit losses

   provision

   (7,300) (1,514) 1,756 - (7,058)

   for doubtful accounts

   Total (7,300) (1,514) 1,756 - (7,058)

   The actual losses refer to the write-off of receivables as definitive losses recognized in the Company's income statement, and the reversal of amounts refers to the renegotiation and collection of amounts from customers that had previously been provisioned as losses (Explanatory Note No. 29.2).

4. Inventories Consolidated

   	03/31/2025		12/31/2024
   Finished products	26,450		27,357
   Work in Process	3,712		2,528
   Raw Materials	64,202		68,012
   Merchandise for Resale	10,788		8,062
   Imports in Process	1,325		4,954
   Inventory Held by Third Parties (a)	14,431		15,146
   	120,908		126,059
   Inventory Provision (-) Provision for obsolescence and slow-moving inventory (b)	(7,896)		(8,902)
   	113,012		117,157

   1. They substantially relate to raw materials undergoing industrial processing and loaned equipment provided as collateral to customers.

   2. This estimate includes discontinued inventory, materials that fall outside quality standards, and items with no inventory turnover, for which the likelihood of realization is considered low by Management, given the availability of new technologies and/or solutions in the market.

   Management's explanatory notes to the individual and consolidated interim financial information for the period ended march 31, 2025

   (Amounts stated in thousands of BRL, unless otherwise indicated)

   The movement in provisions for obsolescence and slow-moving inventory is as follows:

   Consolidated 12/31/2023 12/31/2024 Opening balance Addition Reversals Closing balance

   Inventory	(5,587)		(4,268)		5,462		(4,393)
   Inventory held by third parties	(3,565)		(2,227)		1,283		(4,509)
   	(9,152)		(6,495)		6,745		(8,902)

   Consolidated 12/31/2024 03/31/2025 Opening balance Additions to the provision Reversals Closing balance

   Inventory	(4,393)		(339)		717		(4,015)
   Inventory held by third parties	(4,509)		(588)		1,216		(3,881)
   	(8,902)		(927)		1,933		(7,896)

5. Taxes recoverable Parent Company Consolidated 03/31/2025 12/31/2024 03/31/2025 12/31/2024

   Tax on the Circulation of Goods and Services - ICMS	-	-		557		430
   Tax on Industrialized Products - IPI	-	-		840		773
   Financial Credit (a)	-	-		4,832		6,582
   Social Integration Program - PIS	-	-		564		891
   Contribution for the Financing of Social Security - COFINS	-	-		2,499		4,045
   Social Contribution on Net Income - CSLL (b)	-		-		476		411
   Corporate Income Tax - IRPJ (b)	1,728		1,702		1,728		3,784
   National Institute of Social Security - INSS	-		-		-		2
   Income Tax Withheld at Source - IRRF	6		6		3,456		2,696
   Income Tax Withheld at Source - IVA	-		-		2,068		2,245
   Tax Withholding by Government Agencies	-		-		4,221		2,287
   Deferred income tax	-		-		1,853		1,909
   Others	-		-		2,350		2,727
   	1,734		1,708		25,444		28,782

   1. In December 2019, Law No. 13,969/2019 was enacted, amending Law No. 8,248/1991 (the "Information Technology Law"). The amended law became effective in April 2020 and will remain in effect through December 2029. Under the revised legislation, the fiscal incentive was converted into a financial credit proportional to the Company's pre-approved investments in research and development (R&D). This financial credit is calculated on a quarterly basis and is used to offset federal taxes administered by the Brazilian Federal Revenue Service (Receita Federal do Brasil).

      Management's explanatory notes to the individual and consolidated interim financial information for the period ended march 31, 2025

      (Amounts stated in thousands of BRL, unless otherwise indicated)

   2. The balances presented relate to overpayments resulting from mandatory monthly prepayments. For the balance recorded in the Parent Company, the Company is awaiting reimbursement pursuant to a formal refund request submitted to the Brazilian Federal Revenue Service.

6. Restricted Financial Investments Consolidated

   	03/31/2025		12/31/2024
   ABC Brasil (a)	1,222		2,333
   Banco Cresol (b)	1,314		1,281
   Ágora - Bradesco (c)	27,785		27,208
   Others	1,832		1,777
   	32,153		32,599

   1. Financial investment held at Banco ABC Brasil, in the form of a CDB (Bank Deposit Certificate), pledged as collateral for a surety bond that secures a loan with BNDES. The average remuneration rate is 104% of the CDI (103% as of December 31, 2024).

   2. This financial investment was made with Banco Cresol, under the CDB (Bank Deposit Certificate) modality, and is pledged as collateral for financial transactions entered with Finep. The average remuneration rate is 103% of the CDI (103% as of December 31, 2024).

   3. This financial investment was made with Banco Bradesco, under the Financial Bill modality, and is pledged as collateral for a letter of guarantee, which in turn secures the debt contracted with BNDES. The average remuneration rate is 11.29% per year (11.29% as of December 31, 2024).

7. Other credits Parent Company Consolidated

   	03/31/2025		12/31/2024		03/31/2025		12/31/2024
   Security deposit for rent	-		-		113		113
   Payroll advances	-		-		344		804
   Advances to suppliers (a)	-		-		2,134		1,828
   Prepaid insurance premiums	48		82		264		454
   Prepaid software licenses	-		-		2,326		758
   Other accounts receivable	-		-		569		904
   	48		82		5,750		4,861
   Current assets	48		82		5,149		4,544
   Non-current assets	-		-		601		317
   	48		82		5,750		4,861

   (a) Advances to Suppliers Advances made to service providers.

   Management's explanatory notes to the individual and consolidated interim financial information for the period ended march 31, 2025

   (Amounts stated in thousands of BRL, unless otherwise indicated)

8. Related parties

   The Company has the following shareholders holding a significant interest in its share capital (ownership exceeding 5% of the share capital):

   1. Fundação CPqD - Centro de Pesquisa e Desenvolvimento em Telecomunicações, and

   2. BNDES Participações S.A. - BNDESPAR

   Additionally, the Company's direct and indirect ownership interests in its subsidiaries are described in Explanatory Note No. 1.

   The related parties considered include the significant shareholders mentioned above and the entities directly and indirectly controlled by the Company.

   The main types and transactions between related parties are as follows:

   1. Intercompany Loans: Financial transactions conducted between the Company and its subsidiaries. The balances of the loan agreements are subject to interest of 2% per year, with a maturity of 24 months.
   2. Sale of Products: Sales of finished products between the subsidiary Padtec S.A. and its foreign subsidiaries, carried out under terms that the Company considers to be consistent with market conditions at the time of each transaction, in accordance with the internal policies established by Management.
   3. Other Services: Transactions between Fundação CPqD and Padtec S.A., and between Padtec Soluções para Redes Ltda. ("Padtec Redes") and Padtec S.A., related to expenses for infrastructure, property lease, and administrative expenses, as allocated between the parties according to the terms of the contracts.

   Parent Company Consolidated

   03/31/2025 12/31/2024 03/31/2025 12/31/2024

   Fundação

   Liabilities

   Padtec Total Total

   CPqD Total Total

   Intercompany Loans (a) 6,708 6,708 5,836 - - -

   Other services (c) --- 406406569

   6,708 6,708 5,836 406 406 569

   Current liabilities - - - 406 406 569

   Non-current liabilities 6,7086,7085,836 ---

   6,708 6,708 5,836 406 406 569

   Consolidated

   03/31/2025 03/31/2024

   Revenues

   Padtec Argentina

   Padtec Chile

   Padtec Colombia

   Padtec

   Redes Total Total

   Sales of Products (b) 1,264 724 1,707 20 3,71510,153

   1,264 724 1,707 20 3,715 10,153

   Management's explanatory notes to the individual and consolidated interim financial information for the period ended march 31, 2025

   (Amounts stated in thousands of BRL, unless otherwise indicated)

   Consolidated

   	03/31/2025	03/31/2024
   Expenses / Costs	Padtec Redes Total	Total
   Other services (c)	50 50	60
   	50 50	60

   The information regarding loan and financing transactions entered between the Company and Banco Nacional de Desenvolvimento Econômico e Social - BNDES, the sole shareholder of BNDESPAR, is disclosed in Explanatory Note No. 15.

   The details regarding the operating lease agreement for the property where the Company's headquarters is located, entered with Fundação CPqD, are presented in Explanatory Note No. 16.

   The information regarding FIDC FUNTTEL PADTEC - Receivables Investment Fund (FIDC FUNTTEL Padtec), in which the senior quota holder is BNDES Participações S.A., is disclosed in Explanatory Note No. 18.

   Compensation of Key Management Personnel

   Key management personnel of the Company and its subsidiaries are also considered related parties to the Company (see the Padtec Holding S.A.'s Related Party Transactions Policy).

   Compensation paid to Executive Officers, members of the Board of Directors, Fiscal Council (when in place), and the Statutory Audit and Risk Committee is established by the General Shareholders' Meeting and follows market standards. The maximum aggregate amount (covering both fixed and variable compensation) approved for fiscal year 2025 by the General Shareholders' Meeting held on April 30, 2025, is BRL 8,986. The actual annual compensation paid to key management personnel includes monthly management fees, performance bonuses related to the prior year, contributions to the official pension system, and private pension contributions:

   	03/31/2025		03/31/2024
   Short-term benefits Salaries including bonuses	773		865
   Social Security (INSS)	150		168
   Private Pension	45		44
   Others	25		30
   Total Compensation	993		1,107

   The subsidiary Padtec S.A. sponsors two private pension plans for its Directors and employees, administered by Fundação Sistel de Seguridade Social, as described in Explanatory Note No. 24.

   The Company has no additional post-employment obligations toward its Officers, nor does it offer other long-term benefits such as sabbatical leave or length-of-service leave. The Company also does not offer any termination benefits to members of Management other than those provided for in the individual employment agreements signed with the Company.

   The amounts shown in the table above are included in the total for "labor expenses and social charges," as presented in the table of Explanatory Note No. 29.1.

   Management's explanatory notes to the individual and consolidated interim financial information for the period ended march 31, 2025

   (Amounts stated in thousands of BRL, unless otherwise indicated)

9. Investments

   The summarized financial information of the Company's subsidiaries, including total assets, liabilities, deficit equity, revenues, and results for the periods, is presented below:

   1. Composition of investments Parent Company 03/31/2025 12/31/2024

      Interest in subsidiaries:

      Padtec S.A. 136,982 133,610

      136,982 133,610
   2. Summary of the Financial Information of the Subsidiary

      Padtec S.A.

      	03/31/2025		12/31/2024
      Capital Stock	162,174		162,174
      Total Assets	673,951		721,131
      Total Liabilities	536,969		587,521
      Net equity	136,982		133,610
      Profit (Loss) for the Period	2,000		(23,986)
      Number of shares (in thousands)	162,174		162,174
      Number of shares held (in thousands)	162,174		162,174
      Equity interest percentage	100.00%		100.00%

   3. Summary of financial information of indirect subsidiaries

      Padtec S.A. - Argentina

      Padtec USA Padtec Colombia Padtec Peru Padtec Soluções Para

      Padtec México

      Branch Redes Ltda (a)

      03/31/2025	12/31/2024	03/31/2025	12/31/2024	03/31/2025	12/31/2024	03/31/2025	12/31/2024	03/31/2025	12/31/2024	03/31/2025	12/31/2024
      2,160	2,160	30,641	30,169	16,400	16,400	259	259	30	30	17	-
      13,023	12,831	1,516	805	41,297	47,532	2,578	3,205	1,916	1,931	17	-
      10,670	10,734	789	127	33,628	38,781	1,904	2,504	2,324	2,281	-	-
      2,353	2,097	727	678	7,669	8,751	674	701	(408)	(350)	17	-
      466	67	(486)	(2,155)	(849)	(1,871)	8	265	(59)	(263)	-	-
      2,160	2,160	30,641	30,169	16,400	16,400	10,000	10,000	100	100	100	-
      2,160	2,160	30,641	30,169	16,400	16,400	10,000	10,000	100	100	100	-
      100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	0.00%

      Capital Stock Total Assets Total Liabilities Net equity

      Profit (Loss) for the Period Number of shares (in thousands)

      Number of shares held (in thousands)

      Equity interest percentage

      (a) presented in number of units.

   4. Movement of investments in the Parent Company Padtec S.A.

      	03/31/2025		03/31/2024
      Opening balance of investments	133,610		176,731
      Equity in earnings of subsidiaries	2,000		(13,203)
      Cash Flow Hedge	1,788		(889)
      Foreign currency translation adjustment of foreign subsidiaries	(416)		1,906
      Closing balance of investments	136,982		164,545

10. Net fixed assets

    Consolidated

    Machinery and equipment

    Computer equipment

    Furniture and fixtures

    Leasehold improvements

    Right-of-Use Asset - Lease (a)

    Total

    Balances on December 31, 2024 Cost	34,401	19,257	2,773	4,025	36,504	96,960
    Accumulated depreciation	(22,255)	(12,325)	(2,280)	(3,859)	(14,925)	(55,644)
    Balances on December 31, 2024	12,146	6,932	493	166	21,579	41,316
    Additions	-	661	4	-	-	665
    Transfer from construction in progress to completed	(372)	372	-	-	-	-
    Write-offs and disposals (acquisition cost)	(316)	(134)	(11)	-	(464)	(925)
    Write-offs and disposals (depreciation)	314	90	18	-	-	422
    Depreciation	(536)	(559)	(39)	(166)	(1,021)	(2,321)
    Balances on March 31, 2025	11,236	7,362	465	-	20,094	39,157
    Cost	33,713	20,156	2,766	4,025	36,040	96,700
    Accumulated depreciation	(22,477)	(12,794)	(2,301)	(4,025)	(15,946)	(57,543)
    Balances on March 31, 2025	11,236	7,362	465	-	20,094	39,157

    a) See Explanatory Note No. 16.

    Balances on December 31, 2023

    Cost

    Accumulated depreciation Balances on December 31, 2023 Additions

    Write-offs and disposals (acquisition

    cost)

    Write-offs and disposals (depreciation) Depreciation

    Balances on March 31, 2024

    Cost

    Accumulated depreciation

    Balances on March 31, 2024

    Machinery and equipment

    Computer equipment

    Furniture and fixtures

    Consolidated Leasehold

    improvements

    Construction in progress (a)

    Right-of-use assets - leases (b)

    Total

    24,263	15,596	2,689	4,030	7,437	31,875	85,890
    (20,323)	(10,043)	(2,005)	(2,864)	-	(10,233)	(45,468)
    3,940	5,553	684	1,166	7,437	21,642	40,422
    974	532	74	2	536	103	2,221
    (103)	(97)	-	-	-	(648)	(848)
    -	(33)	(58)	-	-	-	(91)
    (368)	(533)	(59)	(249)	-	(1,144)	(2,353)
    4,443	5,422	641	919	7,973	19,953	39,351
    25,134	16,031	2,763	4,032	7,973	31,330	87,263
    (20,691)	(10,609)	(2,122)	(3,113)	-	(11,377)	(47,912)
    4,443	5,422	641	919	7,973	19,953	39,351

    1. Refers to acquisitions of machinery and equipment for the Company's plug-in manufacturing facility, which is part of its growth strategy within the Equipment/DWDM business unit.

    2. See Explanatory Note No. 16.

11. Net Intangible Assets

    Parent Company
    	Trademarks and patents	Total
    Cost	24		24
    Balances on December 31, 2024	24		24
    Cost	24		24
    Balances on March 31, 2025	24		24
    Parent Company
    	Trademarks and patents	Total
    Cost	24		24
    Balances on December 31, 2023	24		24
    Cost	24		24
    Balances on March 31, 2024	24		24

    Consolidated

    	Software	Trademarks and patents	Technical information license	Completed development projects	Development projects in progress	Total
    Balances on December 31, 2024
    Cost	12,500	27	7,762	91,492	14,936	126,717
    Accumulated amortization	(10,884)	-	(7,762)	(46,237)	-	(64,883)
    Balances on December 31, 2024	1,616	27	-	45,255	14,936	61,834
    Additions	68	-	-	-	6,034	6,102
    Transfer from development in progress to completed	-	-	-	3,395	(3,395)	-
    Write-offs and disposals (acquisition cost)	(26)	-	-	-	-	(26)
    Write-offs and disposals (amortization)	19	-	-	-	-	19
    Amortization	(148)	-	-	(3,284)	-	(3,432)
    Balances on March 31, 2025	1,529	27	-	45,366	17,575	64,497
    Cost	12,542	27	7,762	94,887	17,575	132,793
    Accumulated amortization	(11,013)	-	(7,762)	(49,521)	-	(68,296)
    Balances on March 31, 2025	1,529	27	-	45,366	17,575	64,497

    Consolidated

    	Software	Trademarks and patents	Technical information license	Completed development projects	Development projects in progress	Total
    Balances on December 31, 2023
    Cost	12,935	27	6,713	59,804	21,910	101,389
    Accumulated amortization	(9,668)	-	(6,631)	(34,030)	-	(50,329)
    Balances on December 31, 2023	3,267	27	82	25,774	21,910	51,060
    Additions	47	-	323	-	4,744	5,114
    Transfer from development in progress to completed	-	-	-	5,810	(5,810)	-
    Write-offs and disposals (amortization)	(6)	-	-	-	-	(6)
    Amortization	(304)	-	(284)	(2,338)	-	(2,926)
    Balances on March 31, 2024	3,004	27	121	29,246	20,844	53,242
    Cost	12,982	27	7,036	65,614	20,844	106,503
    Accumulated amortization	(9,978)	-	(6,915)	(36,368)	-	(53,261)
    Balances on March 31, 2024	3,004	27	121	29,246	20,844	53,242

    Padtec Holding S.A.

    Management's explanatory notes to the individual and consolidated interim financial information for the period ended march 31, 2025

    (Amounts stated in thousands of BRL, unless otherwise indicated)

    The development projects in progress refer to new technologies under development by the Company that meet the recognition criteria established by CPC 04 (R1). These criteria include technical feasibility of completion, the intention and ability to use or sell the asset, and the expectation of generating future economic benefits.

12. Loans and financing

Contracted annual interest

Average effective

Consolidated

Modality

Local currency

rate

annual rate Earnings Guarantee 03/31/2025 12/31/2024

Finep TR + 2.30%

and 2.80%

3.08% 02/15/2020 to

12/15/2042

EXIM BNDES IPCA+7.02% 8.25% 09/15/2024 to

06/15/2029

Foreign currency

Banco Brasil - Forfait 8.30% 9.31%

Foreign

05/02/2024 to

01/24/2027

Finimp Banco Votorantim

exchange variation + 4.50%

4.87% 10/28/2024 to

01/24/2025

Finimp Banco do Brasil 3.00% 3.25% 10/29/2024 to 04/25/2025

NCE - Votorantim

Current liabilities Non-current liabilities

Foreign exchange variation + 7.80%

12.78% 09/30/2024 to

03/28/2028

Maturity schedule by year:

Consolidated

2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035-

2042

TOTAL

Loans and financing

56,916 59,631 56,187 49,808 25,765 7,015 7,015 6,340 6,205 6,205 38,530 319,617

29