Rede D'or Sao Luiz SaBMFBOVESPA: RDOR3

Financial Statements 2Q26

· Issued by Rede D'or Sao Luiz Sa
Interim Financial Information Rede D'Or São Luiz S.A.

June 30, 2026

with Independent Auditor's Review Report

Rede D'Or São Luiz S.A. Interim financial information June 30, 2026

Contents

Independent auditor's review report on interim financial information 1

Interim financial information

Statements of financial position 3

Statements of profit or loss 5

Statements of comprehensive income 6

Statements of changes in equity 7

Statements of cash flows 8

Statements of value added 9

Notes to the interim financial information 10

Centro Empresarial PB 370

Praia de Botafogo, 370

8º ao 10º andar - Botafogo

22250-040 - Rio de Janeiro - RJ - Brazil

Phone: +55 21 3263-7000

ey.com.br



A free translation from Portuguese into English of Independent Auditor's Review Report on interim financial information prepared in Brazilian currency in accordance with CPC 21 (R1) and IAS 34 - Interim Financial Reporting and the rules issued by the Brazilian Securities and Exchange Commission (CVM) applicable to the preparation of Quarterly Information (ITR)

Independent auditor's review report on interim financial information

To the Shareholders, Board of Directors and Officers of

Rede D'Or São Luiz S.A.

Rio de Janeiro - RJ, Brazil

Introduction

We have reviewed the individual and consolidated interim financial information of Rede D'Or São Luiz

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

The executive board is responsible for the preparation of the individual and consolidated interim financial information in accordance with Accounting Pronouncement CPC 21 (R1) - Interim Financial Reporting, and with International Accounting Standard (IAS) 34 - Interim Financial Reporting (IFRS Accounting Standards), issued by the International Accounting Standards Board (IASB), as well as for the fair presentation of this information in accordance with the rules issued by the Brazilian Securities and Exchange Commission (CVM) applicable to the preparation of the Quarterly Information (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 the 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). 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 accompanying individual and consolidated interim financial information included in the quarterly information is not prepared, in all material respects, in accordance with Accounting Pronouncement CPC 21 (R1) and IAS 34 applicable to the preparation of Quarterly Information (ITR), and presented consistently with the rules issued by the Brazilian Securities and Exchange Commission (CVM).

1

A member firm of Ernst & Young Global Limited





Other matters - Statements of value added

The quarterly 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 responsibility of the Company's executive board and presented as supplementary information for purposes of IAS 34. These statements have been subject to the same review procedures performed together with quarterly information review, in order to conclude whether they have been reconciled to the interim financial information and accounting records, as applicable, and whether their form and content are in accordance the criteria defined in 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 individual and consolidated interim financial information taken as a whole.

Rio de Janeiro, August 11, 2026. ERNST & YOUNG

Auditores Independentes S/S Ltda.

CRC SP-015199/F

Wilson J.O. Moraes Accountant CRC RJ-107211/O



A free translation from Portuguese into English of Interim Financial Information prepared in Brazilian currency in accordance with CPC 21 (R1) and IAS 34 - Interim Financial Reporting and the rules issued by the Brazilian

Securities and Exchange Commission (CVM) applicable to the preparation of Quarterly Information (ITR)

Rede D'Or São Luiz S.A.

Statements of financial position

June 30, 2026 and December 31, 2025 (In thousands of reais)

Individual Consolidated

Note

06/30/2026

12/31/2025

06/30/2026

12/31/2025

Assets

Current assets

Cash and cash equivalents

4

511,835

214,163

3,014,917

3,705,415

Securities

4

10,843,990

8,410,483

40,305,218

36,855,083

Accounts receivable

5

5,256,685

5,312,008

10,297,089

10,167,395

Inventories

6

541,175

527,778

1,216,328

1,196,110

Taxes recoverable

746,181

541,680

1,500,983

948,238

Insurance contract assets

12

-

-

-

27,999

Reinsurance contract assets

-

-

41,816

41,012

Derivative financial instruments

24

69,342

69,545

141,923

92,345

Transactions with related parties

7

1,525,199

1,775,289

-

-

Dividends receivable

308,059

492,527

11,604

-

Other

349,017

397,550

796,439

745,273

Total current assets

20,151,483

17,741,023

57,326,317

53,778,870

Noncurrent assets

Transactions with related parties

7

3,974,197

3,631,865

56,966

74,154

Securities

4

381,995

-

4,544,449

1,775,096

Accounts receivable

5

-

-

1,772,537

1,734,724

Taxes recoverable

8,677

8,677

504,544

503,368

Insurance contract assets

12

-

-

-

21,342

Reinsurance contract assets

-

-

12,406

12,565

Judicial deposits

14

485,140

482,842

2,805,834

2,652,869

Deferred taxes

17

676,650

374,569

4,033,747

4,327,326

Derivative financial instruments

24

417,062

417,886

2,514,250

2,954,497

Investments in subsidiaries, associates and joint

ventures

8

34,311,260

31,468,248

2,463,506

2,437,864

Property and equipment

9

6,560,840

6,215,239

17,740,353

16,789,930

Intangible assets

10

7,482,206

7,563,708

15,661,991

15,809,019

Right of use - leases

11

2,466,717

2,566,017

3,264,571

3,102,204

Other

272,167

325,010

531,187

574,704

Total noncurrent assets

57,036,911

53,054,061

55,906,341

52,769,662

Total assets 77,188,394 70,795,084 113,232,658 106,548,532

Rede D'Or São Luiz S.A.

Statements of financial position

June 30, 2026 and December 31, 2025 (In thousands of reais)

Individual

Consolidated

Note

06/30/2026

12/31/2025

06/30/2026

12/31/2025

Liabilities and equity

Current liabilities

Trade accounts payable

796,757

803,791

1,819,680

1,761,444

Derivative financial instruments

24

769,848

637,183

1,296,396

1,083,440

Loans, financing and debentures

13

2,317,731

1,745,424

2,084,354

1,712,740

Transactions with related parties

7

-

-

-

16,860

Salaries, accruals and social charges

484,839

628,170

1,190,406

1,248,171

Tax obligations

360,585

280,726

1,004,940

924,479

Accounts payable for acquisitions

17,021

15,668

552,469

475,207

Dividends and IOE payable

16

2,457,802

3,023,466

2,497,274

3,060,098

Insurance contract liabilities

12

-

-

7,207,898

6,904,651

Leases

15

629,833

616,902

825,767

760,520

Other

143,832

69,134

1,252,663

1,324,999

Total current liabilities

7,978,248

7,820,464

19,731,847

19,272,609

Noncurrent liabilities

Derivative financial instruments

24

1,131,869

1,004,181

1,278,885

1,045,045

Loans, financing and debentures

13

42,854,326

38,139,109

48,854,663

44,521,391

Transactions with related parties

7

6,521

-

7,944

4,337

Tax obligations

23,992

26,610

125,915

130,237

Accounts payable for acquisitions

50

338

167,136

215,617

Insurance contract liabilities

12

-

-

12,176,385

11,789,166

Deferred taxes

17

-

-

424,762

385,699

Provision for contingencies

14

541,947

530,315

3,360,228

3,092,700

Provision for losses on investments

8

905,276

839,321

-

-

Leases

15

2,390,052

2,493,811

3,119,908

2,963,924

Other

622,663

589,227

1,046,941

1,506,720

Total noncurrent liabilities

48,476,696

43,622,912

70,562,767

65,654,836

Equity

16

Capital

15,711,360

15,711,360

15,711,360

15,711,360

Share issue costs

(253,031)

(253,031)

(253,031)

(253,031)

Capital reserves

4,569,514

5,009,707

4,569,514

5,009,707

Treasury shares

(1,566,045)

(1,828,733)

(1,566,045)

(1,828,733)

Income reserves

146,337

146,337

146,337

146,337

Retained earnings

1,426,270

-

1,426,270

-

Future capital contribution

4,224

4,224

4,224

4,224

Other comprehensive income

694,821

561,844

694,821

561,844

Total equity attributable to the Company's

shareholders

20,733,450

19,351,708

20,733,450

19,351,708

Noncontrolling interests

-

-

2,204,594

2,269,379

Total equity

20,733,450

19,351,708

22,938,044

21,621,087

Total liabilities and equity

77,188,394

70,795,084

113,232,658

106,548,532

See accompanying notes.

Rede D'Or São Luiz S.A.

Statements of profit or loss

Six-month periods ended June 30, 2026 and 2025 (In thousands of reais, unless otherwise stated)

Individual

Consolidated

04/01/2026 to 01/01/2026 to 04/01/2025 to 01/01/2025 to 04/01/2026 to 01/01/2026 to 04/01/2025 to 01/01/2025 to

Note 06/30/2026 06/30/2026 06/30/2025 06/30/2025 06/30/2026 06/30/2026 06/30/2025 06/30/2025

Operating revenue, net

18

4,380,075

8,438,403

3,940,193

7,668,245

14,658,396

29,000,366

13,960,847

26,933,879

Operating costs

19

(2,818,503)

(5,675,929)

(2,633,311)

(5,199,166)

(11,091,986)

(22,215,199)

(11,041,151)

(21,300,515)

Gross profit

1,561,572

2,762,474

1,306,882

2,469,079

3,566,410

6,785,167

2,919,696

5,633,364

General and administrative expenses

20

(377,686)

(715,448)

(287,142)

(607,596)

(698,549)

(1,334,112)

(570,877)

(1,055,108)

Selling expenses

(11,709)

(19,508)

19,062

14,676

(27,719)

(44,373)

28,971

15,859

Equity accounting

8

1,190,398

2,056,893

868,905

1,835,171

15,804

13,228

15,398

12,498

Other operating expenses

21

(56,151)

249,124

(51,266)

(9,027)

(49,400)

180,759

(121,670)

(128,818)

Income before finance income (costs) and income and social contribution taxes

2,306,424

4,333,535

1,856,441

3,702,303

2,806,546

5,600,669

2,271,518

4,477,795

Finance income

22

785,757

2,571,963

941,620

1,793,494

2,802,127

6,644,844

2,677,924

5,496,663

Finance costs

22

(2,069,064)

(5,024,518)

(1,929,123)

(3,720,383)

(3,919,630)

(9,138,044)

(3,749,668)

(7,430,192)

Profit before income taxes

1,023,117

1,880,980

868,938

1,775,414

1,689,043

3,107,469

1,199,774

2,544,266

Income taxes

17

185,827

295,290

132,654

266,667

(399,437)

(809,433)

(152,013)

(429,727)

Profit for the period

1,208,944

2,176,270

1,001,592

2,042,081

1,289,606

2,298,036

1,047,761

2,114,539

Profit attributable to controlling interests

1,208,944

2,176,270

1,001,592

2,042,081

1,208,944

2,176,270

1,001,592

2,042,081

Profit attributable to noncontrolling interests

-

-

-

-

80,662

121,766

46,169

72,458

Basic earnings per share

23

0.5583

0.9982

0.4543

0.9254

0.5583

0.9982

0.4543

0.9254

Diluted earnings per share

23

0.5583

0.9982

0.4543

0.9254

0.5583

0.9982

0.4543

0.9254

See accompanying notes.

Rede D'Or São Luiz S.A.

Statements of comprehensive income

Six-month periods ended June 30, 2026 and 2025 (In thousands of reais)

Individual

Consolidated

04/01/2026 to

01/01/2026 to

04/01/2025 to

01/01/2025 to

04/01/2026 to

01/01/2026 to

04/01/2025 to

01/01/2025 to

06/30/2026

06/30/2026

06/30/2025

06/30/2025

06/30/2026

06/30/2026

06/30/2025

06/30/2025

Profit for the period

1.208.944

2.176.270

1,001,592

2,042,081

1.289.606

2.298.036

1,047,761

2,114,539

Other comprehensive income Cash flow hedge

(11,329)

(16,549)

(49,625)

(90,592)

(3,006)

927

(69,270)

(109,864)

Gains /(los ses) on insurance and reinsurance liabilities Unrealized gains/(losses ) on financial assets at fair value through

OCI

-

-

-

-

-

-

-

-

192,365

(105,944)

346,510

(121,005)

(255,479)

46,519

(265,861)

50,200

Tax effects

3,852

5,626

16,871

30,800

(35,763)

(93,455)

108,977

125,309

Gains /(los ses) on changes in equity interest

Other comprehensive income of associates and s ubsidiaries, by equity pickup

-

55,129

-

143,900

-

(170,616)

-

(174,841)

-

-

-

-

(34,117)

-

(34,417)

-

47,652

132,977

(203,370)

(234,633)

47,652

132,977

(203,370)

(234,633)

Total comprehensive income

1.256.596

2.309.247

798,222

1,807,448

1.337.258

2.431.013

844,391

1,879,906

Attributable to: Controlling interests

1.256.596

2.309.247

798,222

1,807,448

1.256.596

2.309.247

798,222

1,807,448

Noncontrolling interests

-

-

-

-

80,662

121,766

46,169

72,458

See accompanying notes.

Rede D'Or São Luiz S.A.

Statements of changes in equity

Six-month periods ended June 30, 2026 and 2025 (In thousands of reais)

Attributable to the Company's controlling shareholders

Capital Capital reserves Income reserves Premium

reserve

Goodwill in Share-based

Other

Future

Share issue

(share

capital

payment

Treasury

Legal

Res erve

comprehensiv

capital

Retained

Noncontrolling

Description

Capital

costs

issue)

transactions

reserve

shares

reserve

for investment

e income

contribution

earnings

Total equity

interes ts

Total

Balances at December 31, 2024

15,711,360

(253,031)

6,190,053

(1,229,297)

-

(1,458,602)

8,666

4,921,769

807,485

4,224

-

24,702,627

1,999,241

26,701,868

Capital transactions in subsidiaries and acquisition of

noncontrolling interests -

-

-

64,157

-

-

-

-

-

-

-

64,157

502,243

566,400

Changes - RSU (Note 16) -

-

8,432

-

(9,466)

802

-

-

-

-

-

(232)

-

(232)

Share-based payment (Note 16) -

-

-

-

9,466

-

-

-

-

-

-

9,466

-

9,466

Profit for the period -

-

-

-

-

-

-

-

-

-

2,042,081

2,042,081

72,458

2,114,539

Dividends and interest on equity (Note 16) -

-

-

-

-

-

-

(850,000)

-

-

-

(850,000)

(42,025)

(892,025)

Share buyback -

-

-

-

-

(370,933)

-

-

-

-

-

(370,933)

-

(370,933)

Cash flow hedge (Note 16) -

-

-

-

-

-

-

-

(59,791)

-

-

(59,791)

-

(59,791)

Equity adjustments -

-

-

-

-

-

-

-

(15,319)

-

-

(15,319)

-

(15,319)

reinsurance contracts -

-

-

-

-

-

-

-

(159,523)

-

-

(159,523)

-

(159,523)

Balances at June 30, 2025 15,711,360

(253,031)

6,198,485

(1,165,140)

-

(1,828,733)

8,666

4,071,769

572,852

4,224

2,042,081

25,362,533

2,531,917

27,894,450

Balances at December 31, 2025 15,711,360

(253,031)

6,215,354

(1,205,647)

-

(1,828,733)

8,666

137,671

561,844

4,224

-

19,351,708

2,269,379

21,621,087

Capital transactions in subsidiaries and acquisition of noncontrolling interests -

-

-

745,070

-

-

-

-

-

-

-

745,070

(175,451)

569,619

Changes - RSU (Note 16) -

-

2,546

-

-

-

-

-

-

-

-

2,546

-

2,546

Profit for the period -

-

-

-

-

-

-

-

-

-

2,176,270

2,176,270

121,766

2,298,036

Dividends and interest on equity (Note 16) -

-

-

-

-

-

-

-

-

-

(750,000)

(750,000)

(11,100)

(761,100)

Share buyback -

-

-

-

-

(925,121)

-

-

-

-

-

(925,121)

-

(925,121)

Cancellation of shares (Note 16.c) -

-

(1,187,809)

-

-

1,187,809

-

-

-

-

-

-

-

-

Cash flow hedge (Note 16) -

-

-

-

-

-

-

-

(436)

-

-

(436)

-

(436)

Equity adjustments -

-

-

-

-

-

-

-

(74,537)

-

-

(74,537)

-

(74,537)

reinsurance contracts -

-

-

-

-

-

-

-

207,950

-

-

207,950

-

207,950

Balances at June 30, 2026 15,711,360

(253,031)

5,030,091

(460,577)

-

(1,566,045)

8,666

137,671

694,821

4,224

1,426,270

20,733,450

2,204,594

22,938,044

Net finance income (costs) from insurance and

Net finance income (costs) from insurance and

See accompanying notes.

Rede D'Or São Luiz S.A.

Statements of cash flows

Six-month periods ended June 30, 2026 and 2025 (In thousands of reais)

Individual Consolidated

06/30/2026

06/30/2025

06/30/2026

06/30/2025

Cash flows from operating activities

Income before income and social contribution taxes

1,880,980

1,775,414

3,107,469

2,544,266

Adjustments to reconcile income before taxes to cash flows from operating

activities

Depreciation and amortization

466,716

473,619

945,080

924,412

Gain on dis posal of properties

(1,960)

(1,960)

(1,960)

(1,960)

Fair value of debt

(454,033)

622,947

(471,687)

755,543

Interest, monetary variations and FX differences, net

3,174,591

1,391,806

1,357,941

(572,293)

Share-based payment

34,618

45,464

34,618

45,464

(Reversal of)/Provision for contingencies

20,549

(10,120)

361,207

189,211

Equity accounting

(2,056,893)

(1,835,171)

(13,228)

(12,498)

Income (loss) from insurance service

-

-

(5,670,431)

(4,292,977)

Allowance for expected credit losses

418,259

360,286

825,793

669,755

(Increase) decrease in assets and increase (decrease) in liabilities

Accounts receivable

(452,969)

(929,486)

(993,300)

(1,426,792)

Inventories

(19,577)

6,471

(53,156)

(115,823)

Taxes recoverable

(198,454)

73,518

(532,846)

(105,679)

Judicial deposits

(2,396)

(13,446)

(83,088)

311,690

Other assets

(118,572)

802,759

(423,622)

570,406

Trade accounts payable

10,223

49,682

58,236

126,669

Salaries and social charges

(100,920)

40,410

(35,624)

59,762

Tax obligations

673

(106,625)

240,143

(66,557)

Transactions with related parties

(130,389)

(1,358,500)

3,935

163,586

Provision for contingencies

(21,575)

(25,384)

(233,131)

(554,107)

Insurance and reinsurance assets (liabilities)

-

-

6,756,748

6,354,429

Other liabilities

48,507

161,573

(90,110)

(23,964)

2,497,378

1,523,257

5,088,987

5,542,543

Payment of interest

(2,603,107)

(1,688,777)

(2,660,843)

(1,807,778)

Payment of income and social contribution taxes

-

-

(802,231)

(666,689)

Net cash from (used in) operating activities

(105,729)

(165,520)

1,625,913

3,068,076

Cash flows from investing activities

Receipt upon disposal of equity interest, net of cash

676,363

-

676,363

-

Acquisition of equity interest

-

-

(129,200)

-

Future capital contribution

(604,456)

(268,361)

-

-

Additions to property and equipment

(655,320)

(510,388)

(1,472,532)

(1,219,411)

Additions to intangible assets

(6,670)

(20,672)

(60,359)

(134,520)

Acquisition of securities

(16,466,612)

(11,156,606)

(48,775,496)

(43,007,838)

Redemption of securities

14,349,621

14,320,317

45,360,476

41,969,314

Dividends and interest on equity received

686,627

769,116

10,150

10,558

Net cash from (used in) investing activities

(2,020,447)

3,133,406

(4,390,598)

(2,381,897)

Cash flows from financing activities Treasury shares

(906,980)

(390,449)

(906,980)

(390,449)

Payment of dividends and IOE

(1,236,823)

(751,763)

(1,245,083)

(787,874)

Loans, financing and debentures raised

5,485,000

1,000,000

5,485,000

1,900,000

Payment of loans, financing, debentures and leases

(569,551)

(2,500,379)

(659,002)

(2,571,463)

Settlement of swap

(347,798)

(220,750)

(588,700)

(277,674)

Accounts payable for acquisitions

-

-

(11,048)

(51,356)

Net cash from (used in) financing activities

2,423,848

(2,863,341)

2,074,187

(2,178,816)

Increase (decrease) in cash and cash equivalents

297,672

104,545

(690,498)

(1,492,637)

Cash and cash equivalents at beginning of period

214,163

408,911

3,705,415

6,570,751

Cash and cash equivalents at end of period

511,835

513,456

3,014,917

5,078,114

See accompanying notes.

Rede D'Or São Luiz S.A.

Statements of value added

Six-month periods ended June 30, 2026 and 2025 (In thousands of reais, unless otherwise stated)

Individual

Consolidated

06/30/2026

06/30/2025

06/30/2026

06/30/2025

Revenue

9,339,044

8,156,242

30,598,261

28,156,693

Sales of goods, products and services

9,374,220

8,514,568

14,019,346

12,811,779

Revenues from insurance operations

-

-

16,924,985

15,956,039

Allowance for expected credit losses

(418,259)

(360,286)

(825,793)

(669,755)

Other revenues

383,083

1,960

479,723

58,630

Benefits and claims

-

-

(9,619,503)

(9,889,292)

Expenses with benefits and redemptions

-

-

(9,619,503)

(9,889,292)

Materials acquired from third parties

(3,241,953)

(2,781,926)

(7,783,869)

(6,767,697)

Costs of sales

(2,973,251)

(2,682,128)

(6,967,410)

(6,245,323)

Materials, power, third-party services and other

(248,153)

(109,918)

(455,252)

(333,163)

Loss on/recovery of assets

(20,549)

10,120

(361,207)

(189,211)

Gross value added

6,097,091

5,374,316

13,194,889

11,499,704

Depreciation and amortization

(466,716)

(473,619)

(945,080)

(924,412)

Net value added

5,630,375

4,900,697

12,249,809

10,575,292

Value added received in transfer

4,628,856

3,628,665

5,018,403

3,750,474

Equity accounting

2,056,893

1,835,171

13,228

12,498

Finance income

2,571,963

1,793,494

6,644,844

5,496,663

Finance income (costs) from insurance contracts

-

-

(1,639,669)

(1,758,687)

Total value added

10,259,231

8,529,362

17,268,212

14,325,766

Distribution of value added

(10,259,231)

(8,529,362)

(17,268,212)

(14,325,766)

Personnel

(2,689,648)

(2,432,474)

(5,159,698)

(4,606,775)

Salaries

(2,413,038)

(2,167,773)

(4,570,575)

(4,040,085)

Benefits

(182,717)

(171,976)

(384,858)

(377,512)

Unemployment Compensation Fund (FGTS)

(93,893)

(92,725)

(204,265)

(189,178)

Taxes, charges and contributions

(222,268)

(193,635)

(1,995,807)

(1,605,964)

Federal taxes

(11,816)

(10,726)

(1,511,944)

(1,181,297)

State taxes

-

-

(20,625)

(24,286)

Local taxes

(210,452)

(182,909)

(463,238)

(400,381)

Debt remuneration

(5,171,045)

(3,861,172)

(7,814,671)

(5,998,488)

Interest

(5,024,518)

(3,720,383)

(7,498,345)

(5,665,011)

Rents

(5,560)

(6,248)

(13,564)

(51,254)

Other

(140,967)

(134,541)

(302,762)

(282,223)

Equity remuneration

(2,176,270)

(2,042,081)

(2,298,036)

(2,114,539)

Interest on equity

(750,000)

(850,000)

(750,000)

(850,000)

Dividends

-

-

(11,100)

(42,025)

Retained profits

(1,426,270)

(1,192,081)

(1,426,270)

(1,192,081)

Noncontrolling interests on retained profits

-

-

(110,666)

(30,433)

See accompanying notes.

Notes to the interim financial information June 30, 2026

(In thousands of reais, unless otherwise stated)

  1. Operations

    Rede D'Or São Luiz S.A. (the "Company" or "Parent Company" and jointly with its subsidiaries "Rede D'Or" or "Group"), headquartered at Rua Francisco Marengo, 1.312, in the city and state of São Paulo, is engaged in the rendering of hospital services, offering assistance and hospitality concepts, creating medical and diagnostic excellence centers and generating medical knowledge and experience that ensure security to customers, either doctors, patients or healthcare plans. Through its subsidiaries and associates, the Company operates in the health (health and dental insurance, administrative services only (ASO) health and dental plans, and health and wellness solutions), life insurance, private pension, and asset management segments.

    Rede D'Or operates in the states of Rio de Janeiro, São Paulo, Pernambuco, Maranhão, Bahia, Sergipe, Paraná, Ceará, Minas Gerais, Mato Grosso do Sul, Paraíba, Alagoas, Pará and the Federal District, with 73 own hospitals in operation and over 20 projects under development, in addition to oncology and radiotherapy clinics and laboratories. Currently, the Group has 10,596 hospital beds in total.

    The first hospital unit, Hospital Barra D'Or, was opened in 1998, and Hospital Copa D'Or and Hospital Quinta D'Or were opened in 2000 and 2001, respectively. Since 2004, strategic partnerships have been made with other hospitals, thus increasing its range of expertise and reaching other areas in Rio de Janeiro. Also through partnerships and acquisitions, Rede D'Or started operations in the state of Pernambuco in 2007; in the states of Maranhão and Bahia in 2018; in the state of Sergipe in 2019; in the states of Paraná and Ceará in 2020; in the states of Minas Gerais, Mato Grosso do Sul and Paraíba in 2021; and in the state of Alagoas in 2022.

    In December 2022, the business combination between the Company and Sul América S.A. was completed through the merger of Sul América S.A. into Rede D'Or. As a result of the merger, Sul América S.A. was dissolved and succeeded by Rede D'Or as regards all its assets, rights and obligations, and Rede D'Or became the parent company of Sul América Group ("SASA" or "Sul América" - comprising the subsidiaries, associates and investment funds remaining from the merger of Sul América S.A.).

    Seasonality

    There are no significant seasonal effects on the Company's operations; however, a smaller volume of customers and, consequently, of claims in the insurance and health insurance businesses, is generally observed in December, January and February due to year-end celebrations and vacation period, and a larger volume of customers is observed in winter.

    Notes to the interim financial information (Continued)

    June 30, 2026

    (In thousands of reais, unless otherwise stated)

  2. Accounting policies

    This individual and consolidated interim financial information was prepared in accordance with Accounting Pronouncement CPC 21 (R1) - Interim Financial Reporting, issued by the Brazilian Accounting Pronouncements Committee ("CPC"), and in accordance with IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board (IASB), and is presented in accordance with the rules issued by the Brazilian Securities and Exchange Commission ("CVM") applicable to the preparation of Quarterly Information (ITR). The statements of value added are presented as supplementary information for IFRS purposes.

    The accounting policies as well as estimates and critical accounting judgments adopted by the Group in this interim financial information are consistent with those adopted in the financial statements for the year ended December 31, 2025, disclosed on February 25, 2026.

    P&L for the six-month period ended June 30, 2026 does not necessarily indicate the P&L expected for the entire year ending December 31, 2026. The interim financial information and related notes do not include all information and disclosures required for the annual financial statements. As such, this interim financial information must be read together with the audited annual financial statements as of December 31, 2025.

    Authorization to complete the preparation of this interim financial information was provided by Company management on August 11, 2026.

    The individual and consolidated interim financial information includes the operations of the Company and its subsidiaries, as presented in Note 8. Additionally, as of June 30, 2026, the Company holds investments in funds-of-one that are fully consolidated.

  3. Atlântica Hospitais transaction

On August 16, 2024, the Company entered into a partnership with Atlântica Hospitais e Participações S.A. ("Atlântica Hospitais") - a company focused on hospital investments, indirectly controlled by Bradseg Participações S.A., which in turn is the parent of Bradesco Seguros Group - for the creation of the new hospital network "Atlântica D'Or" (Pacífico Holding Imobiliária Hospitalar S.A. and Pacífico Operações Hospitalares S.A.). The Partnership was established as a corporate association aimed at making investments, constructing, developing, and operating hospitals, with a share of 50,01% for Rede D'Or, which will serve as the hospital operator and controller of the new Atlântica D'Or hospital network, and 49,99% for Atlântica Hospitais. This partnership encompasses all investments and assets, including real estate, related to the hospitals.

Notes to the interim financial information (Continued)

June 30, 2026

(In thousands of reais, unless otherwise stated)

  1. Atlântica Hospitais transaction (Continued)

    On September 1, 2025, the Company entered into an Investment, Purchase and Sale Agreement and Other Covenants with Atlântica Hospitais, for the purpose of contributing the assets and liabilities of Hospital Glória D'Or and SPE IH Glória D'Or, in the city of Rio de Janeiro, to the Atlântica D'Or hospital network, with ownership stakes of 50,01% by Rede D'Or and 49,99% by Atlântica Hospitais. On January 30, 2026, the Company completed the contribution of the assets and liabilities of Hospital Glória D'Or and SPE IH Glória D'Or to Atlântica D'Or. The Company received R$452,037 from Bradesco Seguros in connection with the acquisition of the shares corresponding to a 49.99% equity interest.

    On November 10, 2025 the Company entered into an Investment, Purchase and Sale Agreement and Other Covenants with Atlântica Hospitais, for the purpose of contributing the hospital operations of Maternidade São Luiz Star ("Maternidade Star"), in the city of São Paulo, to the Atlântica D'Or hospital network, with ownership stakes of 50.01% by Rede D'Or and 49.99% by Atlântica Hospitais. The transaction does not include the real property in which Maternidade Star's activities are conducted, which will continue to be fully owned by Rede D'Or. On February 26, 2026, the Company completed the closing of the contribution of the assets and liabilities of Maternidade Star to Atlântica D'Or. The Company received R$224,326 from Bradesco Seguros in connection with the acquisition of the shares corresponding to a 49.99% equity interest.

    On May 26, 2026, the Company entered into an Investment, Purchase and Sale Agreement and Other Covenants with Atlântica Hospitais and Atlântica Empreendimentos Imobiliários Ltda. ("Atlântica"), for the purpose of contributing real properties located in the São Conrado neighborhood, in the city and state of Rio de Janeiro, where the São Conrado D'Or Hospital will be constructed, developed, and operated in the future, to the Atlântica D'Or hospital network, with ownership stakes 50.01% by Rede D'Or, and 49.99% by Atlântica. On July 13, 2026, the Company completed the closing of the contribution of certain properties owned by Rede D'Or to Atlântica D'Or. The consideration amounting to R$60,582, relating to the acquisition of 49.99% of the shares, will be fully settled by January 2027.

    As of June 30, 2026, the partnership encompasses six hospitals in operation (São Luiz Guarulhos, São Luiz Alphaville, Macaé D'Or, Hospital São Luiz Campinas, Hospital Glória D'Or and Maternidade São Luiz Star) and two other projects under development (located in Taubaté and Ribeirão Preto).

  2. Cash and cash equivalents and securities
    1. Cash and cash equivalents

      Individual Consolidated

      06/30/2026

      12/31/2025

      06/30/2026

      12/31/2025

      Cash and cash equivalents

      Cash and banks

      14,708

      13,626

      84,637

      63,526

      Marketable securities

      497,127

      200,537

      2,930,280

      3,641,889

      Cash and cash equivalents

      511,835

      214,163

      3,014,917

      3,705,415

      Marketable securities classified as cash equivalents have maturities of less than three months from the date of acquisition and have an insignificant risk of changes in value.

    2. Securities

      Marketable securities are broken down in the table below, which shows their respective classifications, curve value and market value, as well as the contractual average rates:

      Fair value through Individual

      profit or loss Amortized cost

      Market value/

      Description carrying amount

      Curve value/carrying

      amount

      Market value

      Average interest rate (a)

      Total 06/30/2026

      Average interest rate (a)

      Total 12/31/2026

      Fixed income securities - corporate bonds

      9,268,594

      9,650,589

      7,105,528

      Bank deposit certificates Floating rate CDI %

      9,131,927

      -

      - 101.11% CDI

      9,131,927

      101.68% CDI

      6,965,003

      Debentures

      Floating rate CDI +

      Financial bills

      -

      381,995

      381,995

      CDI+4.00% p.a.

      381,995

      -

      -

      Floating rate CDI +

      136,667

      -

      - CDI+0.24% p.a.

      136,667

      CDI+0.27% p.a.

      84,556

      Floating rate CDI %

      Fixed income securities - government securities

      -

      1,423,423

      -

      - -

      -

      1,423,423

      105.00% CDI

      55,969

      1,304,929

      Financial treasury bills

      1,423,423

      -

      - SELIC

      1,423,423

      SELIC

      1,304,929

      Investment fund shares

      Investment fund shares - other than

      151,973

      151,973

      26

      funds-of-one

      151,973

      -

      - -

      151,973

      -

      26

      11,225,985

      8,410,483

      Current

      10,843,990

      Current

      8,410,483

      Noncurrent

      381,995

      Noncurrent

      -

      4. Cash and cash equivalents and securities (Continued) 4.2. Securities (Continued)

      Fair value through profit or loss

      Market value/

      Fair value through other

      comprehensive income Amortized cost

      Market

      value/ Curve

      Consolidated

      06/30/2026 Average rate 12/31/2025

      Description carrying amount Curve value

      Carrying

      amount

      value/carrying

      amount

      Market

      value

      Average

      interest rate (a)

      Total

      interest (a)

      Total

      Fixed income securities - corporate

      bonds 14,440,578 1,009,416

      971,245

      381,995

      381,995

      15,793,818

      14,199,719

      Bank deposit certificates Floating rate CDI +

      5,099

      -

      -

      -

      -

      CDI+0.27% p.a.

      5,099

      CDI+0.26% p.a.

      19,721

      Floating rate CDI % Debentures

      10,727,647

      127,901

      127,901

      -

      -

      101.59% CDI

      10,855,548

      101.69% CDI

      9,715,947

      Fixed rate

      75,477

      -

      -

      -

      -

      13.79% p.a.

      75,477

      12.79% p.a.

      73,366

      Floating rate CDI +

      984,738

      93,967

      95,895

      381,995

      381,995

      CDI+2.09% p.a.

      1,462,628

      CDI+1.72% p.a.

      1,204,552

      Floating rate CDI %

      18,942

      -

      -

      -

      -

      106.23% CDI

      18,942

      116.96% CDI

      3,237

      Floating rate IPCA

      700,937

      -

      -

      -

      -

      IPCA+8.16% p.a.

      700,937

      IPCA+7.29% p.a.

      580,135

      Floating rate IGP-M Financial bills

      -

      111,703

      99,127

      -

      -

      IGPM+5.84% p.a.

      99,127

      IGPM+5.84% p.a.

      95,522

      Fixed rate

      9,070

      -

      -

      -

      -

      14.89% fixed rate

      9,070

      -

      -

      Floating rate CDI +

      1,761,306

      -

      -

      -

      -

      CDI+0.37% p.a.

      1,761,306

      CDI+0.47% p.a.

      1,683,459

      Floating rate CDI %

      74,330

      -

      -

      -

      -

      104.62%CDIt

      74,330

      108.99%CDI

      116,001

      Floating rate IPCA

      -

      644,264

      616,350

      -

      -

      IPCA+8.17% p.a.

      616,350

      IPCA+8.17% p.a.

      610,887

      Promissory notes

      6,472

      31,581

      31,972

      -

      -

      CDI+1.57% p.a.

      38,444

      CDI+1.54% p.a.

      40,872

      Mortgage-backed Securities ("CRI") CRI Fixed rate

      10,594

      -

      -

      -

      -

      15,54% p.a.

      10,594

      15.86% p.a.

      1,213

      Floating rate CDI +

      6,968

      -

      -

      -

      -

      1.74% p.a.

      6,968

      -

      -

      Time deposits with special guarantee (DPGE)

      58,998

      -

      -

      -

      -

      CDI+0.43% p.a.

      58,998

      CDI+0.49% p.a.

      54,807

      Fixed income securities -government securities

      16,940,471

      3,874,062

      3,705,608

      3,950,884

      3,811,949

      24,596,963

      20,249,429

      Financial treasury bills

      15,820,361

      33,764

      33,837

      -

      -

      SELIC

      15,854,198

      SELIC

      13,381,692

      National treasury bills Fixed rate

      772,693

      -

      -

      -

      -

      14.16% p.a.

      772,693

      13.43% p.a.

      600,028

      National treasury notes Series F - Fixed rate

      340

      20,057

      18,695

      -

      -

      9.28% p.a.

      19,035

      9.27% p.a.

      19,012

      Series B - Floating rate IPCA

      38,525

      3,482,961

      3,324,653

      75,507

      64,219

      IPCA+7.06% p.a.

      3,438,685

      IPCA+6.42% p.a.

      1,903,885

      Series C - Floating rate IGP-M

      79,928

      337,280

      328,423

      1,789,456

      1,661,809

      IGPM+5.94% p.a.

      2,197,807

      IGPM+5.94% p.a.

      2,164,767

      Fixed income securities abroad

      228,624

      -

      -

      2,085,921

      2,085,921

      13.87% p.a.

      2,314,545

      13.86% p.a.

      2,180,045

      Variable income securities

      223,500

      223,500

      227,711

      Shares

      223,500

      -

      -

      -

      -

      -

      223,500

      -

      227,711

      Investment fund shares

      Fixed income, equity and multi-

      4,224,281

      4,224,281

      3,949,500

      market investment fund shares

      4,197,660

      -

      -

      -

      -

      -

      4,197,660

      -

      3,922,215

      Equity investment fund shares

      26,621

      -

      -

      -

      -

      -

      26,621

      -

      27,285

      Other investments

      11,105

      -

      -

      -

      -

      - 11,105

      - 3,820

      44,849,667

      38,630,179

      Current 40,305,218

      Noncurrent 4,544,449

      Current 36,855,083

      Noncurrent 1,775,096

      (a) For securities classified as at fair value through profit or loss (FVTPL), average market rates are used. For those classified as at fair value through other

      comprehensive income (FVOCI) and at amortized cost, acquisition rates (yield curve) are used for interest accrual purposes, while assets classified as FVOCI are also marked to market for fair value measurement purposes.

      Notes to the interim financial information June 30, 2026

      (In thousands of reais, unless otherwise stated)

  3. Accounts receivable

    Individual Consolidated

    Description Note 06/30/2026 12/31/2025 06/30/2026 12/31/2025

    Accounts receivable - hospital services

    5.1

    5,256,685

    5,312,008

    8,716,328

    8,689,373

    Other accounts receivable

    5.2

    -

    -

    3,353,298

    3,212,746

    5,256,685 5,312,008 12,069,626 11,902,119

    Current

    5,256,685

    5,312,008

    10,297,089 10,167,395

    Noncurrent

    -

    -

    1,772,537 1,734,724

    1. Hospital services

      Trade accounts receivable comprise receivables from healthcare companies and individuals, as follows:

      Individual Consolidated

      06/30/2026

      12/31/2025

      06/30/2026

      12/31/2025

      Accounts receivable from health insurance and health plans

      6,292,390

      6,282,646

      10,262,993

      10,236,070

      Accounts receivable from individuals

      Allowance for expected credit losses and provision

      81,352

      116,415

      177,854

      213,927

      for disallowances (1,117,057)

      (1,087,053)

      (1,724,519)

      (1,760,624)

      5,256,685

      5,312,008

      8,716,328

      8,689,373

      Changes in provision for disallowances and allowance for expected credit losses

      Individual Consolidated

      06/30/2026 06/30/2025 06/30/2026 06/30/2025

      Balance at beginning of period

      (1,087,053)

      (1,114,970)

      (1,760,624)

      (1,873,401)

      (Set up)/Reversal of provision for disallowances

      and allowance for expected credit losses

      (418,259)

      (360,286)

      (800,353)

      (653,861)

      Write-offs (a)

      373,801

      350,016

      836,458

      659,906

      Provision arising from the transfer of assets (b)

      14,454

      16,533

      -

      -

      Transfer to assets available for sale

      -

      -

      -

      49,428

      Balance at end of period (1,117,057) (1,108,707) (1,724,519) (1,817,928)

      1. Write-offs include the derecognition of uncollectible amounts and elimination of accepted claim denials of the Group companies.

      2. Transfer of assets of Hospital Maternidade São Luiz Star and Hospital São Luiz Campinas, respectively.

Notes to the interim financial information June 30, 2026

(In thousands of reais, unless otherwise stated)

  1. Accounts receivable (Continued)
    1. Hospital services (Continued)

At June 30, 2026 and December 31, 2025, the aging list of trade accounts receivable was as follows:

1 - 31 -

Individual

61 -

Overdue 91 -

121 -

181 -

360 -

Total Falling due 30 days 60 days 90 days 120 days 180 days 360 days 720 days

06/30/2026 6,373,742

4,235,228

149,181

159,281

146,853

197,421

333,252

523,783

628,743

12/31/2025 6,399,061

4,263,759

149,692

162,354

149,863

197,343

246,512

533,617

695,921

1 - 31 -

Consolidated

61 -

Overdue 91 -

121 -

181 -

360 -

Total Falling due 30 days 60 days 90 days 120 days 180 days 360 days 720 days

06/30/2026 10,440,847

6,298,193

501,398

265,415

254,748

267,970

508,079 1,044,681 1,300,363

12/31/2025 10,449,997

6,265,931

598,516

298,737

267,530

234,563

423,324 900,188 1,461,208

The Company's revenues arise from the provision of hospital services, including the use of medicines and hospital materials. Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured, i.e. upon rendering of medical services at an amount that reflects the consideration to which an entity expects to be entitled in exchange for providing services to a customer.

Changes in provision for disallowances and allowance for expected credit losses

The provision for disallowances and allowance for expected credit losses are presented reducing the balance of accounts receivable and recognized at an amount deemed sufficient by management to cover any expected losses on the realization of amounts billed.

The Company's criterion to recognize a provision for disallowances is to annually analyze the performance of notes overdue between 360 to 720 days, a period deemed sufficient for exhausting the collection process. The percentage reached is applied to the gross revenue recorded and recognized as a provision in current profit or loss, reflecting management's best expectation based on the analyzed history. The analysis is made individually by cash-generating unit, as well as the percentage recorded as a provision for disallowances in the year.

As a criterion for the recognition of an allowance for expected credit losses, an individual analysis of receivables is performed to identify specific counterparty risks. If necessary, an allowance for expected credit losses is recorded for the partial or total balance of receivables outstanding of these customers.

Notes to the interim financial information June 30, 2026

(In thousands of reais, unless otherwise stated)

  1. Accounts receivable (Continued)

    5.2.

    Other accounts receivable

    Consolidated

    Description

    Note

    06/30/2026

    12/31/2025

    Other operating receivables

    521

    2,183,707

    1,996,059

    Consideration receivable - ASO health plans

    522

    1,020,591

    1,067,960

    Other (a)

    149,000

    148,727

    3,353,298

    3,212,746

    Current

    1,580,761

    1,478,022

    Noncurrent

    1,772,537

    1,734,724

    1. This balance is represented mainly by receivables related to securities obligations and receivables not directly related to insurance operations, in subsidiaries that operate in this industry.

  1. Other operating receivables

    Consolidated

    06/30/2026

    12/31/2025

    Receivables from FCVS - SFH

    Principal (Note 5.2.1.1)

    1,965,553

    1,957,587

    Impairment (Note 5.2.1.1)

    (221,281)

    (221,281)

    Frozen funds (a)

    165,520

    102,802

    Other (b)

    273,915

    156,951

    Total

    2,183,707

    1,996,059

    Current

    412,578

    264,847

    Noncurrent

    1,771,129

    1,731,212

    (a) These refer to funds frozen in bank accounts and investment funds related to lawsuits.

    (b) This balance is mainly represented by advances to suppliers.

    5.2.1.1. Receivables from FCVS - SFH

    Consolidated

    Description

    06/30/2026

    Balance of receivables FCVS-SFH at 12/31/2025

    1,957,587

    Additions

    103,915

    Write-offs

    (95,949)

    Balance of receivables FCVS-SFH at 30/06/2026

    1,965,553

    Balance of impairment at 06/30/2026

    (221,281)

    Closing balance net of impairment at 06/30/2026

    1,744,272

    Current

    93,570

    Noncurrent

    1,650,702

    Notes to the interim financial information June 30, 2026

    (In thousands of reais, unless otherwise stated)

    5. Accounts receivable (Continued)
    1. Receivables from FCVS - SFH (Continued)

      Consolidated

      Description

      12/31/2025

      Balance of receivables FCVS-SFH at 12/31/2024

      2,028,967

      Additions

      216,048

      Write-offs

      (287,428)

      Balance of receivables FCVS-SFH at 12/31/2025

      1,957,587

      Balance of impairment at 12/31/2025

      (221,281)

      Closing balance net of impairment at 12/31/2025

      1,736,306

      Current

      99,829

      Noncurrent

      1,636,477

      As at June 30, 2026, there are lawsuits in progress related to the Housing Financial System (SH/SFH) in which the Company has been summoned. Such lawsuits may give rise to future cash disbursement with the corresponding request for reimbursement to Caixa Econômica Federal (CAIXA), manager of the Wage Variation Compensation Fund (FCVS). In the cases in which the lawsuit is in the provisional enforcement phase to avoid early disbursement in cases for which decisions are not final and unappealable, the Company pledges in court surety bond policies. As of June 30, 2026, the total amount secured by surety bonds was R$1,127,841 (R$1,123,206 as of December 31, 2025). The SH/HFS was established by article 14 of Law No. 4380/1964 and, since 1967, has been guaranteed by the FCVS. Insurance companies have lawsuits filed against them because they are mischaracterized as representatives of the FCVS, which is the role of CAIXA, the manager of that Fund. In view of this role of FCVS representative in lawsuits, the insurance companies, which are the illegitimate parties, are entitled to receive reimbursements for all incurred expenditures. Law No.

      12409/2011, amended by Law No. 13000/2014, as well as the CCFCVS Resolution No. 364 of March 28, 2014, expressly establish the responsibility of FCVS, through its manager CAIXA, for all lawsuits relating to the SH/SFH's public policy. Currently, insurance companies are reimbursed by the FCVS for payments made in connection with SH/SFH-related lawsuits, based on the criteria established by CCFCVCS Resolution No. 448/2019 and restated by reference to the variation of the Referential Rate ("TR") between the date of payment of each expense and the date of effective reimbursement.

      Notes to the interim financial information June 30, 2026

      (In thousands of reais, unless otherwise stated)

      1. Accounts receivable (Continued)
  2. Consideration receivable - ASO health plans

Administrative service only (ASO) health plans are plans in which the Company administers medical and hospital expenses on behalf of its customers, and is fully reimbursed by the customers, recording only its administration fee as revenue. The amounts related to consideration receivable by maturity are as follows:

Consolidated

06/30/2026

12/31/2025

Falling due

Falling due from 1 to 30 days

860,055

950,854

Falling due from 31 to 60 days

56,546

36,247

Falling due from 61 to 180 days

11,806

16,111

Total falling due

928,407

1,003,212

Overdue

Overdue from 1 to 30 days

89,924

50,711

Overdue from 31 to 60 days

1,440

14,617

Overdue from 61 to 180 days

2,865

1,018

Overdue from 181 to 365 days

820

854

Overdue for more than 365 days

3,676

3,100

Total

98,725

70,300

Provision for impairment

(6,541)

(5,552)

Total overdue

92,184

64,748

Total unearned premiums

1,027,132

1,073,512

Total provision for impairment

(6,541)

(5,552)

Total

1,020,591

1,067,960

  1. Inventories

    Individual Consolidated

    06/30/2026

    12/31/2025

    06/30/2026

    12/31/2025

    Medicines

    150,172

    154,193

    353,070

    353,373

    Special materials

    141,076

    141,241

    306,637

    293,537

    Disposable materials

    133,264

    119,507

    280,929

    298,194

    Consumables

    38,705

    42,654

    93,808

    93,786

    Laboratory materials

    9,971

    10,022

    36,972

    39,570

    Surgical sutures

    8,699

    9,176

    16,693

    18,065

    Dressing room materials

    5,001

    5,035

    15,593

    14,923

    Food stuff

    6,066

    6,817

    11,554

    12,431

    Other

    48,221

    39,133

    101,072

    72,231

    541,175

    527,778

    1,216,328

    1,196,110

    Notes to the interim financial information June 30, 2026

    (In thousands of reais, unless otherwise stated)

  2. Transactions with related parties

    Significant related-party transactions

    The nature of significant related-party transactions is summarized below:

    1. Leases - the Company leases properties owned by the controlling shareholders, namely: properties of the hospitals Copa D'Or and Quinta D'Or, and the property of the administrative unit. Leases are at market value and generated an expense in P&L for the period ended June 30, 2026 of R$19,172 (R$14,355 at June 30, 2025), referring to interest and amortization of rights of use. Leases are annually restated by reference to the Extended Consumer Price Index (IPCA).

    2. Trans fers of funds between companies - to enhance the operations of certain investees and provide funds for expansion and/or acquisitions, management transfers funds between Group companies under current account remittance agreements entered into between the parties. These balances are substantially eliminated in the consolidated financial statements.

    3. Shared services - these are centralized services rendered by the parent company, Rede D'Or, such as legal assistance, marketing, accounting, treasury, accounts payable and accounts receivable, which are shared among the other entities of the Group based on apportionment criteria that take into consideration the contribution of each entity to the consolidated gross revenue.

    4. Debentures - certain subsidiaries issued nonconvertible debentures, which were acquired by the parent company. These debentures are intended to provide funds to the investees for investment in operations and expansion.

    5. Book-entry commercial papers- certain subsidiaries carried out a private placement of book-entry nonconvertible commercial papers, in specific cases, convertible into equity interests, with all of these commercial papers being acquired by the parent company. These commercial papers are intended to provide funds to the investees for investment in operations and expansion.

    6. Revenues and accounts receivable partially arise from commercial transactions conducted in the ordinary course of business relating to medical care provided to members of Sul América plans. These transactions have reference tables by type of service provided by the Company with Sul América and the maturities of these services are stipulated in a contract entered into between the parties.

Notes to the interim financial information June 30, 2026

(In thousands of reais, unless otherwise stated)

7. Transactions with related parties (Continued)

In addition to the balances presented in the tables below, the Parent Company and subsidiary Rede D'Or Finance carried out four debenture issue and purchase transactions: i) on January 17, 2018, subsidiary Rede D'Or Finance issued senior notes totaling US$500 thousand, and at the same time, the Parent Company issued debentures (10th issue), which were partially acquired by other investors and by subsidiary Rede D'Or Finance (Note 13); and ii) on January 22, 2020, subsidiary Rede D'Or Finance carried out the second issue of senior notes, in the total amount of US$850 thousand. On February 13, 2020, Rede D'Or Finance reopened the second issue of senior notes and issued an additional US$350 thousand in notes with the same characteristics as the initial issue. In addition, on April 17, 2020, the Parent Company issued debentures (17th issue - 1st series), which were acquired by subsidiary Rede D'Or Finance; and iii) on September 9, 2025, subsidiary Rede D'Or Finance carried out its third issue of senior notes, for a total amount of US$500 thousand. In addition, on September 30, 2025, the Parent Company issued debentures (37th issue), which were acquired by subsidiary Rede D'Or Finance. The respective debentures were offered through placement efforts abroad, in accordance with the applicable legislation; and iv) on April 28, 2026, subsidiary Rede D'Or Finance completed its fourth issue of senior notes, in the total amount of US$500 thousand. In addition, on May 26, 2026, the Parent Company issued debentures (40th issue), which were acquired by subsidiary Rede D'Or Finance. The respective debentures were issued through private placement efforts abroad, in compliance with applicable law.

7. Transactions with related parties (Continued)

Balances with related parties

Individual

06/30/2026

12/31/2025

30/06/2025

Current

Noncurrent

Noncurrent

Current

Noncurrent

Company

assets

assets

liabilities

P&L

assets

assets

P&L

P&L

Debentures Norte D'Or (g)

22,396

-

-

2,637

27,506

-

5,633

2,274

Debentures São Lucas (h)

481,976

-

-

39,309

427,570

-

50,492

13,948

Debentures Hospital Nossa Senhora das Neves (c)

158,595

-

-

19,944

354,236

-

57,869

26,189

Debentures Biocor (d)

-

-

-

8,446

108,177

-

14,727

5,893

Debentures São Carlos (f)

144,668

-

-

11,550

131,552

-

17,847

6,298

Debentures Proncor (i)

315,845

-

-

25,092

259,139

-

26,059

7,907

Debentures Acreditar (j)

51,993

-

-

4,247

47,746

-

21,720

6,139

Debentures Onco Dor (k)

-

290,044

-

23,690

266,353

-

31,353

7,971

Debentures Oncologistas (m)

24,730

365,792

-

32,576

26,790

365,792

27,028

-

Debentures São Rafael (n)

15,911

270,000

-

20,939

17,092

270,000

17,092

-

Debentures Cia Saúde (o)

17,398

1,000,000

-

74,035

15,579

1,000,000

15,579

-

Debentures Mederi (p)

198,132

-

-

9,632

-

-

-

-

Book-entry commercial papers Onco Star SP (e)

-

1,692,596

-

115,227

-

1,553,594

198,120

86,588

Book-entry commercial papers Cehon (l)

93,555

-

-

7,641

85,913

-

10,113

2,571

Shared services

Medise Medicina Diagnóstico e Serviços Ltda.

-

-

-

7,658

-

-

14,987

7,043

Hospital Esperança S.A.

-

-

-

27,337

-

-

51,006

22,343

Hospital São Marcos S.A.

-

-

-

3,336

-

-

8,046

3,863

Hospital Norte D'Or de Cascadura S.A.

-

1,202

-

6,047

-

-

11,768

6,018

J. Badim S.A.

-

26,970

-

1,471

-

25,786

2,917

1,757

Oncologia D'Or S.A.

-

9,112

-

58,713

-

16,912

106,585

46,479

Hospital Fluminense S.A.

-

-

-

13,348

-

-

24,405

9,456

Hospitais Integrados da Gávea S.A. ("Clínica São Vicente")

-

-

-

10,449

-

-

20,732

8,652

Hospital Alpha-Med LTDA.

-

-

-

3,313

-

-

5,275

2,349

Hospital UDI

-

-

-

8,695

-

-

18,693

9,492

Onco Star SP

-

4,222

-

21,483

-

3,650

35,502

15,652

DF Star

-

-

-

16,960

-

-

31,572

12,119

Samer

-

-

-

4,931

-

-

9,072

4,162

São Lucas

-

1,604

-

10,570

-

1,908

20,030

9,059

São Rafael

-

3,579

-

25,806

-

8,836

52,448

21,177

Hospital Santa Cruz

-

-

-

8,148

-

-

17,374

7,342

Hospital Aliança

-

-

-

16,465

-

-

30,264

13,108

São Carlos

-

922

-

6,344

-

2,882

12,509

4,753

Cárdio Pulmonar

-

-

-

9,058

-

-

20,066

9,420

Hospital Brasil Mauá

-

-

-

8,559

-

-

16,847

7,600

Hospital Balbino

-

-

-

1,690

-

-

3,968

1,525

Biocor Hospital de Doenças Cardiovas culares ("Biocor")

-

-

-

5,974

-

1,634

13,103

5,311

Proncor Unidade Intensiva Cardiorespiratória

-

1,306

-

3,202

-

1,247

5,747

2,245

Hospital Nossa Senhora das Neves

-

1,092

-

8,577

-

2,323

16,113

6,679

Hospital Novo Atibaia

-

-

-

7,993

-

-

16,121

5,224

Hospital Memorial Arthur Ramos

-

-

-

6,042

-

-

13,091

4,895

Hospital Guarulhos

-

4,116

-

12,233

-

20,042

18,697

5,251

Hospital Alphaville

-

4,207

-

12,434

-

19,940

18,928

3,953

Hospital Macaé

-

1,548

-

5,066

-

9,014

8,795

3,842

Hospital Campinas

-

4,467

-

14,093

-

5,594

16,598

4,648

Maternidade Star

-

2,554

-

5,897

-

-

-

-

Glória D'Or

-

3,598

-

8,409

-

-

16,041

7,765

Other

-

2,530

-

35,964

-

5,083

69,281

29,367

JMJB Diagnósticos e Serviços Hospitalares S.A. (a)

-

11,112

-

-

-

10,609

-

-

J. Badim S.A. (a)

-

7,733

-

-

-

7,308

-

-

Rede D'Or Finance

-

263,891

-

-

-

263,891

-

-

Other

-

-

6,521

19,708

7,636

35,820

32,800

14,840

1,525,199

3,974,197

6,521

810,938

1,775,289

3,631,865

1,253,013

483,167

  1. Transactions with related parties (Continued)

    Consolidated

    06/30/2026

    12/31/2025

    06/30/2025

    Company

    Noncurrent assets

    Noncurrent liabilities

    P&L

    Noncurrent assets

    Current liabilities

    Noncurrent liabilities

    P&L

    P&L

    Debentures Biocor (d)

    -

    -

    (313)

    -

    16,860

    -

    (2,629)

    (1,149)

    Shared services

    J. Badim S.A.

    26,970

    -

    1,471

    25,786

    -

    -

    2,917

    1,757

    New Surgical Materiais Cirúrgicos (a) JMJB Diagnósticos e Serviços Hospitalares

    S.A.

    -

    11,112

    -

    -

    -

    -

    21,523

    10,609

    -

    -

    -

    -

    -

    -

    -

    -

    J Badim S.A. (a)

    8,638

    -

    -

    8,221

    -

    -

    -

    -

    JM&AM Empreendimentos Imobiliários S.A. (b)

    -

    -

    19,172

    370

    -

    -

    31,294

    14,355

    Other

    10,246

    7,944

    -

    7,645

    -

    4,337

    164

    104

    56,966

    7,944

    20,330

    74,154

    16,860

    4,337

    31,746

    15,067

    1. Transfers of funds for acquisition of companies, properties, expansion of operations, among others. These balances are substantially eliminated in the consolidated financial statements.

    2. Lease of properties owned by the controlling shareholders of Rede D'Or.

    3. On December 18, 2025, Hospital Nossa Senhora das Neves conducted the eighth private issue of nonconvertible, single-series, registered debentures in the amount of R$212,260, maturing on December 20, 2026. The debentures may be fully or partially

      subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.00% p.a. Interest and the nominal value will be paid on the maturity date, plus yield. There are no guarantees for the debentures.

      On January 02, 2026, Hospital Nossa Senhora das Neves conducted the ninth private issue of nonconvertible, single-series, registered debentures in the amount of R$146,251, maturing on December 30, 2026. The debentures may be fully or partially

      subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 2.90% p.a. On March 16, 2026, the debenture was early settled, with payment of interest and principal up to that date, plus yield. There are no guarantees for the debentures.

    4. On December 19, 2023, Biocor conducted the first private issue of nonconvertible, single-series, registered debentures in the amount of R$33,691, initially maturing on December 19, 2024; however, this term was extended to December 20, 2026. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.0% p.a. On June 23, 2026, the debenture was early settled, with payment of interest and principal up to that date, plus yield. There are no guarantees for the debentures.

      On October 10, 2025, Biocor conducted the seventh private issue of nonconvertible, single-series, registered debentures in the amount of R$13,000, maturing on October 10, 2026. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.00% p.a. On June 23, 2026, the debenture was early settled, with payment of interest and principal up to that date, plus yield. There are no guarantees for the debentures.

      On February 06, 2026, Biocor conducted the eighth private issue of nonconvertible, single-series, registered debentures in the amount of R$36,200, maturing on February 10, 2027. The debentures may be fully or partially s ubscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.00% p.a. On June 23, 2026, the debenture was early settled, with payment of interest and principal up to that date, plus yield. There are no guarantees for the debentures.

      On May 11, 2026, Biocor conducted the ninth private issue of nonconvertible, single-series, registered debentures in the amount of R$35,000, maturing on May 10, 2027. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or.

      Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.00% p.a. On June 23, 2026, the debenture was early settled, with payment of interest and principal up to that date, plus yield. There are no guarantees for the debentures.

    5. On December 29, 2023, Onco Star SP Oncologia Ltda. carried out a private placement of book-entry convertible commercial

      papers, without security interest or collateral security system, in a single series, of first issue, in the amount of R$1,082,544, maturing on December 29, 2030. The commercial papers may be fully or partially subscribed until the maturity date by Rede D'Or São Luiz. Commercial papers not subscribed after this period will be automatically canceled. The commercial papers earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 1.0% p.a. Interest and the nominal value will be paid on the maturity date, plus yield. There are no guarantees.

      On December 29, 2024, Onco Star SP Oncologia Ltda. carried out a private placement of book-entry convertible commercial papers, without security interest or collateral security system, in a single series, of second issue, in the amount of R$150,000, maturing on December 29, 2030. The commercial papers may be fully or partially subscribed until the maturity date by Rede D'Or São Luiz. Commercial papers not subscribed after this period will be automatically canceled. The commercial papers earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 1.0% p.a. Interest and the nominal value will be paid on the maturity date, plus yield. There are no guarantees.

      On March 31, 2026, Onco Star SP Oncologia Ltda. carried out the third private placement of book-entry convertible commercial papers, without security interest or collateral security system, in a single series, of third issue, in the amount of R$180,000, maturing on December 29, 2030. The commercial papers may be fully or partially subscribed until the maturity date by Rede D'Or. Commercial papers not subscribed after this period will be automatically canceled. The commercial papers earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 1.0% p.a. Interest and the nominal value will be paid on the maturity date, plus yield. There are no guarantees.

    6. On May 20, 2025, São Carlos conducted the seventh private issue of nonconvertible, single-series, registered debentures in the amount of R$32,862, maturing on May 20, 2026. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.00% p.a. Interest and the nominal value were paid on the maturity date, plus yield. There are no guarantees for the debentures.

      On January 15, 2026, São Carlos conducted the eighth private issue of nonconvertible, single-series, registered debentures in the amount of R$132,111, maturing on January 20, 2027. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.00% p.a. Interest and the nominal value will be paid on the maturity date, plus yield. There are no guarantees for the debentures.

      On June 05, 2026, São Lucas conducted the ninth private issue of non-privileged, nonconvertible, single-series, registered debentures in the amount of R$159,000, maturing on June 10, 2027. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the variation of the DI (Interbank Deposit) rate plus 4.00% p.a. Interest and the nominal value will be paid on the maturity date, plus yield. There are no guarantees for the debentures.

    7. On February 06, 2025, Norte D'Or conducted the seventh private issue of nonconvertible, single-series, registered debentures in the amount of R$17,343, initially maturing on February 06, 2026; however, this term was extended to February 06, 2027. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.00% p.a. until April 10, 2025 and 10.03% p.a. from April 10, 2025. Interest and the nominal value will be paid on the maturity date, plus yield. There are no guarantees for the debentures.

      On April 30, 2025, Norte D'Or conducted the eighth private issue of nonconvertible, single-series, registered debentures in the amount of R$5,430, initially maturing on October 30, 2025; however, this term was extended to April 30, 2027. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 10.03% p.a. Interest and the nominal value will be paid on the maturity date, plus yield. There are no guarantees for the debentures.

    8. On March 13, 2025, São Lucas conducted the seventh private issue of nonconvertible, single-series, registered debentures in the amount of R$15,000, maturing on March 27, 2026. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.00% p.a. Interest and the nominal value were paid on the maturity date, plus yield. There are no guarantees for the debentures.

      On May 13, 2025, São Lucas conducted the eighth private issue of nonconvertible, single-series, registered debentures in the amount of R$52,176, maturing on May 13, 2026. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.00% p.a. Interest and the nominal value were paid on the maturity date, plus yield. There are no guarantees for the debentures.

      On May 20, 2025, São Lucas conducted the ninth private issue of nonconvertible, single-series, registered debentures in the amount of R$142,403, maturing on May 20, 2026. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.00% p.a. Interest and the nominal value were paid on the maturity date, plus yield. There are no guarantees for the debentures.

      On July 20, 2025, São Lucas conducted the tenth private issue of nonconvertible, single-series, registered debentures in the amount of R$20,000, maturing on July 20, 2026; however, this term was extended to July 20, 2027. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.00% p.a. Interest and the nominal value will be paid on the maturity date, plus yield. There are no guarantees for the debentures.

      On December 09, 2025, São Lucas conducted the eleventh private issue of nonconvertible, single-series, registered debentures in the amount of R$450,000, maturing on December 10, 2026. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.00% p.a.

      Interest and the nominal value will be paid on the maturity date, plus yield. There are no guarantees for the debentures.

    9. On March 28, 2025, Proncor conducted the tenth private issue of nonconvertible, single-series, registered debentures in the amount of R$5,000, maturing on March 28, 2026. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.00% p.a. Interest and the nominal value were paid on the maturity date, plus yield. There are no guarantees for the debentures.

      On May 13, 2025, Proncor conducted the eleventh private issue of nonconvertible, single-series, registered debentures in the amount of R$22,690, maturing on May 13, 2026. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.00% p.a. Interest and the nominal value were paid on the maturity date, plus yield. There are no guarantees for the debentures.

      On July 24, 2025, Proncor conducted the twelfth private issue of nonconvertible, single-series, registered debentures in the amount of R$366,600, maturing on July 24, 2026; however, this term was extended to July 26, 2027. Up to June 30, 2026, subscriptions totaled R$255.671. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or.

      Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.00% p.a. Interest and the nominal value will be paid on the maturity date, plus yield. There are no guarantees for the debentures.

    10. On April 17, 2025, Acreditar conducted the first private issue of nonconvertible, single-series, registered debentures in the amount of R$181,000, initially maturing on April 17, 2026; however, this term was extended to April 20, 2027. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.00% p.a. Interest and the nominal value will be paid on the maturity date, plus yield. There are no guarantees for the debentures.

    11. On April 17, 2025, Onco Dor Oncologia conducted the first private issue of nonconvertible, single-series, registered debentures in the amount of R$235,000, maturing on April 20, 2028. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.00% p.a. Interest and the nominal value will be paid on the maturity date, plus yield. There are no guarantees for the debentures.

    12. On April 18, 2025, Onco Dor BA Oncologia Ltda. (Cehon) carried out a private placement of book-entry nonconvertible commercial papers, without security interest or collateral security system, in a single series, of second issue, in the amount of R$75,800, maturing on April 20, 2027. The commercial papers may be fully or partially subscribed until the maturity date by Rede D'Or. Commercial papers not subscribed after this period will be automatically canceled. The commercial papers earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.0% p.a. Interest and the nominal value will be paid on the maturity date, plus yield. There are no guarantees.

    13. On August 10, 2025, Oncologia Rede D'Or S.A. conducted the first private issue of nonconvertible, single-series, registered debentures in the amount of R$370,000, maturing on August 10, 2030. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn

      interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 4.00% p.a. Interest is paid semiannually, and the face value will be paid on the maturity date. There are no guarantees for the debentures.

    14. On August 10, 2025, São Rafael conducted the first private issue of nonconvertible, single-series, registered debentures in the amount of R$270,000, maturing on August 10, 2030. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 1.75% p.a. Interest and the nominal value will be paid on the maturity date, plus yield. There are no guarantees for the debentures.

    15. On November 24, 2025, SulAmérica Companhia de Seguro Saúde conducted the second private issue of nonconvertible, single-series, registered debentures amounting to R$1,000,000, maturing on November 18, 2033. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 1.10% p.a. Interest is paid semiannually, and the face value will be paid on the maturity date. There are no guarantees for the debentures.

    16. On March 16, 2026, Mederi Distribuição e Importação de Produtos para a Saúde S.A. conducted the seventh private issue of nonconvertible, single-series, registered debentures in the amount of R$208,500, maturing on March 20, 2027. The debentures may be fully or partially subscribed until the maturity date by Rede D'Or. Debentures not subscribed after this period will be automatically canceled. The debentures earn interest on a pro rata basis equivalent to 100% of the positive percentage variation of the CDI (Interbank Deposit Certificate) plus 2.90% p.a. Interest is paid semiannually, and the face value will be paid on the maturity date. There are no guarantees for the debentures.

      Key management personnel compensation

      The Company considers "Key management personnel" only the members of its Statutory Board and Board of Directors. At June 30, 2026 and 2025, key management personnel compensation is summarized as follows:

      06/30/2026

      06/30/2025

      Salaries and bonuses

      139,875

      81,419

      Benefits

      248

      194

      Share-based payment

      16,326

      11,126

      156,449

      92,739

  2. Investments

    Breakdown of and changes in investments - Individual

    Company 12/31/2025

    Equity

    accounting Dividends

    Capital increase/

    Future capital contribution

    Capital reduction / return of future capital

    contribution Trans fer Other 06/30/2026

    Medise Medicina Diagnóstico e Serviços S.A.

    141,626

    19,677

    (41,747)

    -

    -

    -

    (2,263)

    117,293

    Hospital Esperança S.A.

    4,968,562

    120,712

    (98,084)

    108,992

    -

    -

    -

    5,100,182

    PMJ Empreendimentos Imobiliários S.A. (a)

    925,303

    6,331

    (24,471)

    -

    (10,443)

    (269,572)

    -

    627,148

    Norte D'Or Participações S.A. (including goodwill)

    132,474

    7,683

    -

    47

    -

    -

    -

    140,204

    Onco D'Or Oncologia S.A.

    297,402

    103,138

    -

    -

    -

    -

    (6,550)

    393,990

    Jenner S.A. (including goodwill)

    68,836

    44,472

    -

    -

    -

    -

    (8,168)

    105,140

    JMJB Diagnósticos e Serviços Hospitalares

    43,731

    (2,612)

    -

    -

    -

    -

    -

    41,119

    Hospital Fluminense S.A. (including goodwill)

    348,315

    38,959

    (45,239)

    -

    (80,282)

    -

    -

    261,753

    Cardial Serviços Médicos (including goodwill)

    177,515

    37,294

    (37,800)

    -

    -

    -

    1,310

    178,319

    TJK Empreendimentos Hospitalares

    17,953

    956

    (2,491)

    -

    -

    -

    -

    16,418

    Santa Luzia II Empreendimentos Imobiliários Ltda.

    60,114

    (310)

    -

    -

    (13,122)

    -

    -

    46,682

    Clínica São Vicente (a)/(b)

    4,208,667

    102,919

    (156,083)

    203,203

    -

    (108,386)

    750,675

    5,000,995

    Rede D'or São Luiz Serviços Médicos S.A.

    262,279

    (23,060)

    -

    42,255

    -

    (5,612)

    -

    275,862

    Laboratórios Richet

    379,059

    (21,094)

    -

    67,194

    -

    -

    9,514

    434,673

    Qualicorp Consultoria e Corretora de Seguros S.A.

    485,090

    (891)

    -

    -

    -

    -

    (299)

    483,900

    Clínica Médica São Remo

    66,817

    (3,843)

    -

    7,117

    -

    -

    -

    70,091

    Hospital Santa Cruz

    445,481

    12,438

    (6,337)

    21,199

    -

    -

    -

    472,781

    Advance Plano de Saúde S.A.

    31,323

    (1,065)

    -

    -

    -

    -

    -

    30,258

    PrismaQuali Gestão Ativa de Participações S.A.

    1,607,280

    (2,697)

    -

    -

    (4,657)

    -

    (1,322)

    1,598,604

    RDSLGF Greenfields Ltda.

    915,759

    27,552

    (460)

    5,675

    -

    128,818

    4,130

    1,081,474

    RDSL OH Operações Hospitalares Ltda.

    286,305

    60,047

    (5,040)

    104,923

    -

    63,797

    2,916

    512,948

    Traditio Companhia de Seguros

    5,862,361

    607,251

    -

    -

    -

    -

    57,012

    6,526,624

    Cia Saúde - SulAmérica

    5,245,987

    733,541

    -

    -

    -

    -

    69,523

    6,049,051

    SAEPAR Serviços e Participações

    2,547,373

    264,240

    -

    -

    -

    -

    22,123

    2,833,736

    Other

    1,942,636

    (8,760)

    (95,707)

    88,489

    (22,822)

    (428)

    8,607

    1,912,015

    31,468,248 2,122,878 (513,459) 649,094 (131,326) (191,383) 907,208 34,311,260

    1. On January 30, 2026, the Company completed the contribution of the assets and liabilities of Hospital Glória D'Or and SPE IH Glória D'Or to Atlântica D'Or.

On June 17, 2026, Clínica São Vicente, through its wholly owned subsidiary Clínica São Lucas, acquired all shares held by the non-controlling shareholders, representing a 49% ownership interest in Biocor, for a purchas e price of R$129,200. As a result of this transaction, the Company exercised the call/put option previously recognized as a financial liability, which amounted to R$495,211 at the exercise date. Accordingly, the liability was fully derecognized, resulting in an effect of R$366,011, which was recognized as an equity transaction and recorded directly in the controlling shareholders' equity.In addition, the amount previously recognized as non-controlling interests in the consolidated financial statements, measured at fair value upon the acquisition of control, was added to the parent company's investment balance. Consequently, Clínica São Vicente recorded, within its investments, a movement in other reserves of R$691,597, with a corresponding entry to capital reserves, totaling R$750,675, recognized directly in equity, with no impact on profit or loss for the period and no change in consolidated goodwill.

Company 12/31/2025

Equity

accounting Dividends

Capital increas e/ Future capital

contribution Transfer 06/30/2026

Onco Star

(596,939)

(67,650)

- -

-

(664,589)

Centro Hospitalar São Marcos S.A.

(5,895)

(53)

- 30

-

(5,918)

Hospital São Marcos (including goodwill)

(69,889)

(9,779)

- -

-

(79,668)

Rede D'or Finance (166,598) 11,497 - - - (155,101)

(839,321) (65,985) - 30 - (905,276)

Equity method 2,056,893

ompany 12/31/2024

Equity

accounting Dividends

Capital increase/

Future capital contribution

Capital reduction / return of future

capital contribution

Transfers to assets held for

sale Transfer Other 06/30/2025

Medise Medicina Diagnóstico e Serviços S.A.

139,584

12,127

-

6,596

-

-

-

673

158,980

Hospital Esperança S.A.

5,175,670

148,306

-

-

(75,327)

-

-

-

5,248,649

PMJ Empreendimentos Imobiliários S.A.

889,825

14,200

(15,265)

-

(10,988)

-

-

-

877,772

Norte D'Or Participações S.A. (including goodwill)

133,602

1,455

-

430

-

-

-

-

135,487

Onco D'Or Oncologia S.A.

1,096,859

118,774

(895,593)

-

-

-

-

23,554

343,594

Jenner S.A. (including goodwill)

369,301

44,044

-

-

-

-

-

-

413,345

JMJB Diagnósticos e Serviços Hospitalares

44,811

(2,224)

-

-

-

-

-

-

42,587

Rodin Empreendimentos e Participações S.A.

447,492

(6,510)

-

26,858

-

-

-

-

467,840

Quinta Empreendimentos Imobiliários Ltda.

84,724

10,683

(16,482)

-

-

-

-

-

78,925

Hospital Fluminense S.A. (including goodwill)

317,729

12,719

(26,075)

20,641

-

-

-

-

325,014

Cardial Serviços Médicos (including goodwill)

137,980

33,277

(25,620)

-

-

-

-

-

145,637

TJK Empreendimentos Hospitalares

17,513

1,041

(1,950)

-

-

-

-

-

16,604

Villa Lobos Empreendimentos Imobiliários Ltda.

173,630

13,751

(1,770)

-

-

-

-

-

185,611

Santa Luzia II Empreendimentos Imobiliários Ltda.

61,572

(1,047)

-

-

-

-

-

-

60,525

Campinas Empreendimentos Imobiliários Ltda.

364,359

4,066

-

-

-

-

(363,197)

(5,228)

-

Sator Empreendimentos e Participações Ltda.

4,089,079

91,278

-

-

(273,709)

-

-

-

3,906,648

Rede D'or São Luiz Serviços Médicos S.A.

415,271

(12,048)

(41,320)

1,420

-

-

-

-

363,323

Olimpia Projeto Rua do Rocio 86 SPE S.A.

623,100

21,941

(3,504)

-

(37,728)

-

-

-

603,809

Laboratórios Richet

361,915

(5,242)

-

8,900

-

-

-

-

365,573

Santa Luzia III

306,751

11,720

-

1,511

-

-

-

-

319,982

Qualicorp Consultoria e Corretora de Seguros S.A.

484,640

(1,219)

(94)

-

-

-

-

170

483,497

Clínica Médica São Remo

58,453

(4,890)

-

7,754

-

-

-

-

61,317

Hospital Santa Cruz

433,842

13,005

(27,589)

8,630

-

-

-

-

427,888

Advance Plano de Saúde S.A.

40,419

(2,668)

-

-

-

-

-

-

37,751

PrismaQuali Gestão Ativa de Participações S.A.

1,604,880

(3,818)

-

-

-

-

-

-

1,601,062

RDSLGF Greenfields Ltda.

540,958

6,250

-

130,812

(186,774)

-

363,197

-

854,443

RDSL OH Operações Hospitalares Ltda.

114,943

18,547

-

219,811

(103,768)

-

-

-

249,533

Traditio Companhia de Seguros

5,002,876

513,077

-

-

-

-

-

(49,246)

5,466,707

Cia Saúde - SulAmérica

4,183,579

622,982

(141,518)

-

-

-

-

(51,039)

4,614,004

SAEPAR Serviços e Participações

2,183,881

220,413

-

62,715

-

-

-

(39,589)

2,427,420

Other

1,779,914

49,336

(28,810)

33,424

(22,142)

(225,160)

-

18,634

1,605,196

31,679,152

1,943,326

(1,225,590)

529,502

(710,436)

(225,160)

-

(102,071)

31,888,723

Company 12/31/2024 Equity accounting

Capital increas e/

Future capital contribution

Capital reduction / return of future

capital contribution Other 06/30/2025

Onco Star

(454,758)

(62,453)

-

-

(5,966)

(523,177)

Centro Hospitalar São Marcos S.A.

(8,911)

(6)

3

-

-

(8,914)

Hospital São Marcos (including goodwill)

(97,039)

(25,992)

-

(4,582)

(4,743)

(132,356)

Rede D'or Finance (158,713) (19,704) - - - (178,417)

(719,421) (108,155) 3 (4,582) (10,709) (842,864)

Equity method 1,835,171

  1. Investments (Continued)

    Breakdown of and changes in investments - Consolidated

    Company 12/31/2025

    Equity

    accounting Dividends

    Capital increas e/ Future capital

    contribution Other 06/30/2026

    JMJB Diagnósticos e Serviços Hospitalares S.A.

    43,731

    (2,612)

    -

    -

    -

    41,119

    Instituto de Radioterapia do Vale do Paraíba Ltda.

    17,194

    345

    -

    -

    (172)

    17,367

    Qualicorp Consultoria e Corretora de Seguros S.A. (a)

    2,089,212

    (3,837)

    -

    -

    (1,288)

    2,084,087

    Eldorado do Sul Participações Ltda.

    10,707

    3,706

    (1,955)

    -

    (681)

    11,777

    Other

    277,020

    15,626

    (8,195)

    24,054

    651

    309,156

    2,437,864

    13,228

    (10,150)

    24,054

    (1,490)

    2,463,506

    Equity

    Company

    12/31/2024

    accounting

    Dividends

    Other

    Transfer

    06/30/2025

    JMJB Diagnósticos e Serviços Hospitalares S.A.

    44,811

    (2,224)

    -

    -

    -

    42,587

    Instituto de Radioterapia do Vale do Paraíba Ltda.

    16,686

    263

    -

    (141)

    -

    16,808

    Qualicorp Consultoria e Corretora de Seguros S.A. (a)

    2,087,272

    (5,252)

    (404)

    732

    -

    2,082,348

    Eldorado do Sul Participações Ltda.

    35,791

    3,670

    -

    (47)

    -

    39,414

    Other

    298,996

    16,041

    (10,154)

    -

    (17,471)

    287,412

    2,483,556

    12,498

    (10,558)

    544

    (17,471)

    2,468,569

    1. Based on the shareholders' agreement entered into in November 2019, considering the nominations to the Executive Board and Board of Directors that the Company is entitled to, it was concluded that Rede D'Or has significant influence over Qualicorp; therefore, it records the investment using the equity method. The Company recognized the equity accounting through December 31, 2026, in accordance with IAS 28 (CPC 18) - Investments in Associates and Joint Ventures.

Summary of information on main subsidiaries

06/30/2026 06/30/2025

Operating

%

Total

% Voting

capital

Ass ets

Liabilities

Equity

income

(expenses)

P&L for the

period

P&L for the

period

Direct and indirect subsidiaries

Medise Medicina Diagnóstico e Serviços S.A. ("Medise")

100.00

100.00

367,415

251,847

115,568

31,273

21,907

13,501

Hospital Esperança S.A. ("Esperança")

100.00

100.00

11,445,446

5,020,453

6,424,993

280,107

111,044

(11,221)

PMJ Empreendimentos Imobiliários S.A.

100.00

100.00

890,363

251,332

639,031

7,229

4,897

14,214

Norte D'Or Participações S.A.

100.00

100.00

111,835

49

111,786

7,515

7,691

1,457

Onco D'Or Oncologia S.A.

98.87

98.87

878,609

474,801

403,808

124,147

105,957

95,304

Jenner S.A.

91.24

91.24

121,018

15

121,003

88,865

81,152

77,078

JMJB Diagnósticos e Serviços Hospitalares S.A.

50.00

50.00

92,642

9,785

82,857

(5,224)

(2,612)

(2,224)

Hospital Fluminense S.A.

100.00

100.00

512,481

263,984

248,497

62,338

38,998

12,732

Cardial Serviços Médicos Ltda.

89.44

89.44

224,788

78,651

146,137

60,746

37,294

33,277

TJK Empreendimentos Imobiliários Ltda.

100.00

100.00

16,584

155

16,429

1,079

956

1,042

Santa Luzia II Emp. Imobiliários Ltda.

100.00

100.00

47,853

1,122

46,731

(1,049)

(310)

(1,047)

Clínica São Vicente

100.00

100.00

7,910,984

2,378,420

5,532,564

139,585

102,919

83,357

Rede D'Or Finance

100.00

100.00

12,451,307

12,606,407

(155,100)

(764)

11,497

(19,704)

Rede D'Or São Luiz Serviços Médicos S.A.

100.00

100.00

456,811

180,669

276,142

(36,499)

(23,060)

(12,049)

Laboratórios Richet

100.00

100.00

639,151

151,048

488,103

(12,685)

(21,094)

(6,459)

Onco Star SP Oncologia Ltda.

84.00

84.00

1,526,651

2,318,563

(791,912)

3,291

(67,650)

(62,452)

Centro Hospitalar São Marcos S.A.

100.00

100.00

20

604

(584)

(53)

(53)

(6)

Hospital São Marcos S.A.

100.00

100.00

315,330

406,046

(90,716)

(8,164)

(9,779)

(25,992)

Clínica Médica São Remo

100.00

100.00

89,729

21,679

68,050

(2,960)

(3,843)

(4,891)

Hospital Santa Cruz

100.00

100.00

1,025,085

280,312

744,773

31,511

18,845

14,924

Advance Plano de Saúde S.A.

100.00

100.00

43,487

12,611

30,876

(2,916)

(1,065)

(2,668)

PrismaQuali Gestão Ativa de Participações S.A.

100.00

100.00

1,601,379

-

1,601,379

(2,947)

(2,697)

(3,822)

RDSLGF Greenfields Ltda.

100.00

100.00

1,082,710

8

1,082,702

26,114

26,198

6,250

RDSL OH Operações Hospitalares Ltda.

100.00

100.00

512,997

47

512,950

59,848

60,047

18,547

Traditio Companhia de Seguros

100.00

100.00

9,470,986

218,722

9,252,264

825,496

860,861

711,211

Cia Saúde - SulAmérica

100.00

100.00

32,929,380

19,781,537

13,147,843

2,248,637

1,594,655

1,320,000

SAEPAR Serviços e Participações

100.00

100.00

2,937,344

103,608

2,833,736

263,287

264,240

220,413

  1. Investments (Continued)

    Summary of the associates' and joint ventures' information

    06/30/2026 06/30/2025

    Operating

    % % income

    P&L

    P&L

    Companies recognized by the equity method in the consolidated financial statements

    Total

    Voting capital As sets Liabilities Equity

    (expenses)

    for the period for the period

    JMJB Diagnósticos e Serviços Hospitalares S.A. 50.00 50.00 92,642 9,785 82,857 (5,224) (2,612) (2,224)

    Instituto de Radioterapia do Vale do Paraíba Ltda. 50.00 50.00 13,344 1,286 12,058 928 345 263

    Eldorado do Sul Participações Ltda. 33.33 33.33 15,125 5,867 9,258 11,118 3,706 3,670

    Qualicorp Consultoria e Corretora de Seguros S.A. (a)/(b) 25.85 25.85 3,977,357 2,655,239 1,322,118 (a) (a) (b)

    1. The Company recognized the equity accounting until March 31, 2026.

    2. The Company recognized the equity accounting until March 31, 2025.

      Impairment

      The recoverable amount of a CGU is determined based on the calculation of value in use. These calculations use cash flow projections based on financial budgets approved by management for a five-year period. Assumptions are described in Note 10.

      There is no indication of impairment of investments to date.

  2. Property and equipment

Balance breakdown

Individual

06/30/2026 12/31/2025

Description

Depreciation

rate Cost

Accumulated depreciation

Net

amount Cost

Accumulated depreciation

Net amount

Hospital machinery and equipment

12% to 20%

2,096,704

(1,585,864)

510,840

2,079,259

(1,566,315)

512,944

Surgical instruments

20%

148,410

(103,174)

45,236

160,996

(103,456)

57,540

Machinery and equipment

7% to 10%

1,187,891

(780,439)

407,452

1,149,655

(741,717)

407,938

Buildings

2.5% to 4%

893,754

(364,190)

529,564

968,848

(346,391)

622,457

Improvements in own buildings

4%

511,874

(218,759)

293,115

510,977

(209,161)

301,816

Leasehold improvements

3% to 4%

4,409,182

(1,002,442)

3,406,740

3,991,708

(915,466)

3,076,242

Furniture and fixtures

10%

312,229

(256,000)

56,229

307,366

(245,411)

61,955

Vehicles

20%

6,184

(5,095)

1,089

5,907

(4,965)

942

Facilities

10%

226,434

(128,445)

97,989

217,166

(119,897)

97,269

Land

-

147,698

-

147,698

147,698

-

147,698

Construction in progress

-

1,057,774

-

1,057,774

921,005

-

921,005

Other

5% to 10%

15,158

(8,044)

7,114

15,295

(7,862)

7,433

11,013,292

(4,452,452)

6,560,840

10,475,880

(4,260,641)

6,215,239

Consolidated

06/30/2026

12/31/2025

Description

Depreciation rate

Cost

Accumulated depreciation

Net amount

Cost

Accumulated depreciation

Net amount

Hospital machinery and equipment

12% to 20%

4,444,205

(2,999,324)

1,444,881

4,255,122

(2,807,142)

1,447,980

Surgical instruments

20%

399,654

(247,500)

152,154

384,211

(228,297)

155,914

Machinery and equipment

7% to 10%

1,944,923

(1,242,129)

702,794

1,876,669

(1,181,256)

695,413

Buildings

2.5% to 4%

5,908,128

(1,204,000)

4,704,128

5,887,248

(1,084,168)

4,803,080

Improvements in own buildings

4%

1,130,564

(332,941)

797,623

1,056,420

(310,001)

746,419

Leasehold improvements

3% to 4%

7,360,587

(1,497,786)

5,862,801

6,530,521

(1,356,330)

5,174,191

Furniture and fixtures

10%

606,946

(435,787)

171,159

581,154

(412,023)

169,131

Vehicles

20%

30,484

(27,553)

2,931

30,104

(27,303)

2,801

Facilities

10%

527,786

(255,590)

272,196

509,626

(237,609)

272,017

Land

-

1,333,482

-

1,333,482

1,304,085

-

1,304,085

Construction in progress

-

2,245,373

-

2,245,373

1,967,776

-

1,967,776

Other

5% to 10%

63,099

(12,268)

50,831

62,922

(11,799)

51,123

25,995,231

(8,254,878)

17,740,353

24,445,858

(7,655,928)

16,789,930

  1. Property and equipment (Continued)

    Changes - Individual

    12/31/2025

    Additions

    Transfers(a)

    06/30/2026

    Cost

    Hospital machinery and equipment

    2,079,259

    76,161

    (58,716)

    2,096,704

    Surgical instruments

    160,996

    9,265

    (21,851)

    148,410

    Machinery and equipment

    1,149,655

    49,206

    (10,970)

    1,187,891

    Buildings

    968,848

    24

    (75,118)

    893,754

    Improvements in own buildings

    510,977

    295

    602

    511,874

    Leasehold improvements

    3,991,708

    180,644

    236,830

    4,409,182

    Furniture and fixtures

    307,366

    9,758

    (4,895)

    312,229

    Vehicles

    5,907

    277

    -

    6,184

    Facilities

    217,166

    10,970

    (1,702)

    226,434

    Land

    147,698

    -

    -

    147,698

    Construction in progress

    921,005

    390,198

    (253,429)

    1,057,774

    Other

    15,295

    25

    (162)

    15,158

    10,475,880

    726,823

    (189,411)

    11,013,292

    Depreciation

    Hospital machinery and equipment

    (1,566,315)

    (56,323)

    36,774

    (1,585,864)

    Surgical instruments

    (103,456)

    (7,699)

    7,981

    (103,174)

    Machinery and equipment

    (741,717)

    (44,953)

    6,231

    (780,439)

    Buildings

    (346,391)

    (19,051)

    1,252

    (364,190)

    Improvements in own buildings

    (209,161)

    (9,598)

    -

    (218,759)

    Leasehold improvements

    (915,466)

    (89,397)

    2,421

    (1,002,442)

    Furniture and fixtures

    (245,411)

    (12,151)

    1,562

    (256,000)

    Vehicles

    (4,965)

    (130)

    -

    (5,095)

    Facilities

    (119,897)

    (8,822)

    274

    (128,445)

    Other

    (7,862)

    (214)

    32

    (8,044)

    (4,260,641)

    (248,338)

    56,527

    (4,452,452)

    Property and equipment, net

    6,215,239

    478,485

    (132,884)

    6,560,840

    1. The amount of R$ 132,884 relates to the transfer of assets of Hospital São Luiz Maternidade Star from the parent company to "Atlântica D'Or".

12/31/2024

Additions

Trans fers (a)

06/30/2025

Cost

Hospital machinery and equipment

1,843,976

147,397

(57,922)

1,933,451

Surgical instruments

146,112

5,948

(1,183)

150,877

Machinery and equipment

1,057,171

31,794

(6,067)

1,082,898

Buildings

892,674

1,774

-

894,448

Improvements in own buildings

488,456

1,569

5,697

495,722

Leasehold improvements

3,382,389

112,414

54,515

3,549,318

Furniture and fixtures

279,474

7,276

(807)

285,943

Vehicles

5,907

-

-

5,907

Facilities

170,881

21,953

(64)

192,770

Land

147,698

-

-

147,698

Construction in progress

1,097,248

278,818

(71,023)

1,305,043

Other

14,800

290

(5)

15,085

9,526,786

609,233

(76,859)

10,059,160

Depreciation

Hospital machinery and equipment

(1,473,756)

(79,043)

17,894

(1,534,905)

Surgical instruments

(86,720)

(8,489)

386

(94,823)

Machinery and equipment

(650,215)

(55,854)

653

(705,416)

Buildings

(308,517)

(18,552)

-

(327,069)

Improvements in own buildings

(190,572)

(9,148)

-

(199,720)

Leasehold improvements

(769,766)

(69,845)

30

(839,581)

Furniture and fixtures

(218,689)

(13,219)

112

(231,796)

Vehicles

(4,812)

(99)

-

(4,911)

Facilities

(103,611)

(7,515)

6

(111,120)

Other

(7,348)

(244)

-

(7,592)

(3,814,006)

(262,008)

19,081

(4,056,933)

Property and equipment, net

5,712,780

347,225

(57,778)

6,002,227

  1. The amount of R$ 57,778 relates to the transfer of assets of Hospital São Luiz Campinas from the parent company to "Atlântica D'Or".

9. Property and equipment (Continued)

Changes - Consolidated

12/31/2025

Additions

Transfers

06/30/2026

Cost

Hospital machinery and equipment

4,255,122

189,083

-

4,444,205

Surgical instruments

384,211

15,443

-

399,654

Machinery and equipment

1,876,669

68,254

-

1,944,923

Buildings

5,887,248

20,880

-

5,908,128

Improvements in own buildings

1,056,420

26,884

47,260

1,130,564

Leasehold improvements

6,530,521

331,621

498,445

7,360,587

Furniture and fixtures

581,154

25,792

-

606,946

Vehicles

30,104

380

-

30,484

Facilities

509,626

18,160

-

527,786

Land

1,304,085

29,397

-

1,333,482

Construction in progress

1,967,776

823,302

(545,705)

2,245,373

Other

62,922

177

-

63,099

24,445,858

1,549,373

-

25,995,231

Depreciation

Hospital machinery and equipment

(2,807,142)

(192,182)

-

(2,999,324)

Surgical instruments

(228,297)

(19,203)

-

(247,500)

Machinery and equipment

(1,181,256)

(60,873)

-

(1,242,129)

Buildings

(1,084,168)

(119,832)

-

(1,204,000)

Improvements in own buildings

(310,001)

(22,940)

-

(332,941)

Leasehold improvements

(1,356,330)

(141,456)

-

(1,497,786)

Furniture and fixtures

(412,023)

(23,764)

-

(435,787)

Vehicles

(27,303)

(250)

-

(27,553)

Facilities

(237,609)

(17,981)

-

(255,590)

Other

(11,799)

(469)

-

(12,268)

(7,655,928)

(598,950)

-

(8,254,878)

Property and equipment, net

16,789,930

950,423

-

17,740,353

12/31/2024

Additions

Transfers

Transfers to as sets

held for sale

06/30/2025

Cost

Hospital machinery and equipment

3,710,404

319,472

-

(29,131)

4,000,745

Surgical instruments

341,803

18,915

-

-

360,718

Machinery and equipment

1,631,824

155,333

-

(103,057)

1,684,100

Buildings

4,773,617

72,225

236,857

-

5,082,699

Improvements in own buildings

854,783

38,725

77,673

-

971,181

Leasehold improvements

5,251,827

181,240

376,047

(44,717)

5,764,397

Furniture and fixtures

548,445

13,364

-

(10,470)

551,339

Vehicles

30,666

-

-

(1,387)

29,279

Facilities

455,622

43,064

-

(60,595)

438,091

Land

1,270,421

4,564

-

(3,342)

1,271,643

Construction in progress

2,590,389

475,629

(690,577)

(4,611)

2,370,830

Other

61,736

366

-

(3,904)

58,198

21,521,537

1,322,897

-

(261,214)

22,583,220

Depreciation

Hospital machinery and equipment

(2,470,553)

(188,903)

-

13,524

(2,645,932)

Surgical instruments

(188,909)

(18,767)

-

-

(207,676)

Machinery and equipment

(1,018,232)

(89,389)

-

47,341

(1,060,280)

Buildings

(862,555)

(104,130)

-

-

(966,685)

Improvements in own buildings

(265,916)

(22,275)

-

-

(288,191)

Leasehold improvements

(1,129,152)

(106,922)

-

22,678

(1,213,396)

Furniture and fixtures

(366,340)

(22,939)

-

6,510

(382,769)

Vehicles

(26,822)

(203)

-

1,345

(25,680)

Facilities

(204,747)

(17,250)

-

12,976

(209,021)

Other

(9,853)

(1,365)

-

2,176

(9,042)

(6,543,079)

(572,143)

-

106,550

(7,008,672)

Property and equipment, net

14,978,458

750,754

-

(154,664)

15,574,548

  1. Property and equipment (Continued)

    Significant changes for the periods ended June 30, 2026 and 2025 were as follows: 2026

    1. Investments in the expansion works of hospital facilities such as Hospital Central Tatuapé, Hospital Itaim and Hospital Caxias D'Or, as well as the new towers of Hospitals UDI, DF Star and São Lucas.

    2. Capital expenditures on improvements aimed at the expansion and growth of hospitals, primarily São Lucas, Central Tatuapé, and Morumbi.

    3. Purchases of medical and hospital machinery and equipment for Hospitals DF Star, Vila Nova Star, Caxias D'Or, Oeste D'Or and São Lucas, as well as for the Atlântica D'Or Complex.

    4. Investments in construction works of Hospitals Ribeirão Preto, Sorocaba and Taubaté.

      2025

      1. Investments in the expansion works of hospital facilities such as Hospital Assunção, São Vicente, Onco Star and the new tower of UDI Hospital.

      2. Expenses with improvements for the growth and expansion of hospitals and clinics, primarily Hospitals São Lucas, Assunção, Morumbi and UDI.

      3. Purchases of hospital machinery and equipment for the Hospitals new Barra D'Or, Anália, Hospital Assunção, Onco Star, Aliança and São Vicente.

      4. Investments in construction works of Hospitals Taubaté and Ribeirão Preto.

      Capitalized borrowing costs

      The Company capitalizes borrowing costs attributable to qualifying assets. At June 30, 2026, R$76,841 (R$103,486 at June 30, 2025) in interest on loans and financing were capitalized in Property and equipment.

      Impairment testing of property and equipment

      Management has assessed the existence of events or changes in economic, operational or technological circumstances and has not identified any evidence that could indicate deterioration or impairment of property and equipment.

  2. Intangible assets

Annual amortization Individual Consolidated

rate

06/30/2026

12/31/2025

06/30/2026

12/31/2025

Finite useful life

Software

20%

266,689

324,987

740,223

802,283

Customer portfolio - SASA

11% to 20%

78,972

100,077

78,972

100,077

Exclusive agreements

20%

12,628

14,727

82,965

102,950

Other

-

-

3,733

5,920

Indefinite useful life Goodwill

Acquisition of Copa D'Or

80,058

80,058

80,058

80,058

Acquisition of HMSL

668,339

668,339

668,339

668,339

Acquisition of Hospital Brasil

121,398

121,398

121,398

121,398

Acquisition of Hospital Prontolinda

30,595

30,595

30,595

30,595

Acquisition of Vivalle

38,692

38,692

38,692

38,692

Acquisition of São Marcos

-

-

10,807

10,807

Acquisition of Santa Luzia

199,333

199,333

199,333

199,333

Acquisition of Sinisgalli

156,646

156,646

156,646

156,646

Acquisition of Hospital Esperança

-

-

108,408

108,408

Acquisition of Norte D'Or

-

-

28,450

28,450

Acquisition of IFOR

85,724

85,724

85,724

85,724

Acquisition of Sino Brasileiro

241,947

241,947

241,947

241,947

Acquisition of Villa-Lobos

136,074

136,074

136,074

136,074

Acquisition of Bartira

105,584

105,584

105,584

105,584

Acquisition of Onco ABC/Cardeal/JLD

-

-

55,414

55,414

Acquisition of Oncoholding

-

-

159,445

159,445

Acquisition of Hospital Fluminense

-

-

10,658

10,658

Acquisition of Hospital Santa Helena

125,802

125,802

125,802

125,802

Acquisition of Acreditar

-

-

155,720

155,720

Acquisition of Memorial São José

112,528

112,528

112,528

112,528

Acquisition of Alpha-Med

-

-

43,815

43,815

Acquisition of CEHON

-

-

68,757

68,757

Acquisition of Maximagem

46,742

46,742

46,742

46,742

Acquisition of Ribeirão Pires

129,739

129,739

129,739

129,739

Acquisition of NEOH

-

-

33,422

33,422

Acquisition of Salus

-

-

8,956

8,956

Acquisition of Prontimagem

-

-

6,220

6,220

Acquisition of Salus

-

-

163,089

163,089

Acquisition of Hospital São Rafael

-

-

509,363

509,363

Acquisition of Laboratório Richet

-

-

184,232

184,232

Acquisition of UDI

-

-

335,883

335,883

Acquisition of Samer

-

-

70,939

70,939

Acquisition of Hospital Rio Mar

-

-

94,833

94,833

Acquisition of Hospital São Lucas

-

-

223,079

223,079

Acquisition of Hospital Aviccena

60,476

60,476

60,476

60,476

Acquisition of Perinatal

655,580

655,580

655,580

655,580

Acquisition of Hospital Santa Cruz

-

-

299,583

299,583

Acquisition of Aliança

-

-

925,555

925,555

Acquisition of Salute

-

-

15,475

15,475

Acquisition of São Carlos

-

-

160,139

160,139

Acquisition of Clínica São Lucas

-

-

45,673

45,673

Acquisition of Clivalle

-

-

40,786

40,786

Acquisition of HCP/Cárdio Pulmonar

-

-

146,894

146,894

Acquisition of Guaianases

-

-

115,751

115,751

Acquisition of Antônio Afonso

-

-

16,782

16,782

Acquisition of Balbino

-

-

77,500

77,500

Acquisition of América

-

-

456,511

456,511

Acquisition of Serra Mayor

-

-

68,981

68,981

Acquisition of Biocor

-

-

561,269

620,347

Acquisition of Proncor

-

-

202,929

202,929

Acquisition of Santa Emilia

-

-

121,991

121,991

Acquisition of Hospital Nossa Senhora das Neves

-

-

326,634

326,634

Acquisition of HNSN Empreendimentos

-

-

34,790

34,790

Acquisition of Orthoservice

-

-

33,705

33,705

Acquisition of HNA Emp. E Participações

-

-

12,401

12,401

Acquisition of Hospital Novo Atibaia

-

-

173,020

173,020

Acquisition of Hospital Arthur Ramos

-

-

272,686

272,686

Acquisition of Hospital Santa Isabel

-

-

243,287

243,287

Acquisition of Hospital Aeroporto

-

-

171,511

171,511

Acquisition of Paraná Clínicas

-

-

284,701

284,701

Acquisition of Sompo Saúde

-

-

199,384

199,384

Acquisition of Prodent

-

-

106,681

106,681

Acquisition of SASA

1,820,625

1,820,625

1,820,625

1,820,625

Other goodwill

48,650

48,650

294,573

277,329

Trademark - SASA

2,068,575

2,068,575

2,068,575

2,068,575

Trademarks and patents (a)

190,810

190,810

190,959

190,816

7,482,206

7,563,708

15,661,991

15,809,019

(a) This mainly refers to the Hospital São Luiz trademark registered upon its acquisition in 2010.

  1. Intangible assets (Continued)

    Software development costs and licenses

    These refer mainly to expenditures incurred with the development of technological infrastructure, applications, improvements in the companies' website and in operations of Sul América S.A., development of own systems, and acquisition of software licenses used in operations.

    Impairment

    Goodwill is allocated to the Cash-Generating Units (CGU) identified by management, i.e. each hospital, as shown in the table above.

    The recoverable amount of a CGU is determined based on the calculation of value in use. Value in use calculations use cash flow projections based on financial budgets approved by management covering a five-year period.

    Discount rates represent the current market assessment of the risks specific to each CGU, taking into consideration the time value of money and individual risks of the underlying assets that have not been incorporated in the cash flow estimates. The discount rate calculation is based on the specific circumstances of the Company and is derived from its weighted average cost of capital (WACC). The WACC takes into consideration both debt and equity. The cost of equity is derived from the expected return on investment by the investors. The cost of debt is based on the interest-bearing financing the Company is obliged to service. Segment-specific risk is incorporated by applying individual beta factors. The beta factors are evaluated annually based on publicly available market data.

    There is no indication of impairment of intangible assets to date.

  2. Right of use

Balance breakdown

Individual

06/30/2026

12/31/2025

Net

Description

Cost

Amortization

balance Cost

Amortization

Net balance

Properties

3,988,676

(1,521,959)

2,466,717 4,037,599

(1,471,582)

2,566,017

3,988,676

(1,521,959)

2,466,717 4,037,599

(1,471,582)

2,566,017

Consolidated

06/30/2026

12/31/2025

Net

Net

Description

Cost

Amortization

balance Cost

Amortization

balance

Properties

5,480,174

(2,215,603)

3,264,571

5,143,033 (2,040,995)

3,102,038

Vehicles

-

-

-

1,397 (1,231)

166

5,480,174

(2,215,603)

3,264,571

5,144,430 (2,042,226)

3,102,204

Changes - Individual

12/31/2025

Additions (a)

Amortization

Transfers (c)

06/30/2026

Cost

Properties

4,037,599

291,256

-

(340,179)

3,988,676

4,037,599

291,256

-

(340,179)

3,988,676

Amortization

Properties

(1,471,582)

-

(128,225)

77,848

(1,521,959)

(1,471,582)

-

(128,225)

77,848

(1,521,959)

Right of use, net

2,566,017 291,256

(128,225)

(262,331)

2,466,717

12/31/2024 Additions (a) Amortization Transfers (d) 06/30/2025

Cost

Properties

3,668,297

149,924

-

(117,622)

3,700,599

3,668,297

149,924

-

(117,622)

3,700,599

Amortization

Properties

(1,218,118)

-

(140,848)

28,466

(1,330,500)

(1,218,118)

-

(140,848)

28,466

(1,330,500)

Right of use, net

2,450,179

149,924

(140,848)

(89,156)

2,370,099

  1. Right of use (Continued)

    Changes - Consolidated

    12/31/2025

    Additions (a)

    Write-offs (b)

    Amortization

    06/30/2026

    Cost

    Properties

    5,143,033

    337,141

    -

    - 5,480,174

    Vehicles

    1,397

    -

    (1,397)

    - -

    5,144,430

    337,141

    (1,397)

    - 5,480,174

    Amortization

    Properties

    (2,040,995)

    -

    -

    (174,608)

    (2,215,603)

    Vehicles

    (1,231)

    -

    1,397

    (166)

    -

    (2,042,226)

    -

    1,397

    (174,774)

    (2,215,603)

    Right of use, net

    3,102,204

    337,141

    -

    (174,774)

    3,264,571

    Transfers to

    12/31/2024

    Additions

    (a)

    Write-offs

    (b)

    Amortization

    assets held for sale

    06/30/2025

    Cost

    Hospital machinery and equipment

    885

    -

    (885)

    -

    -

    -

    Properties

    4,731,845

    190,983

    -

    -

    (70,880)

    4,851,948

    Vehicles

    1,471

    -

    (44)

    -

    -

    1,427

    4,734,201

    190,983

    (929)

    -

    (70,880)

    4,853,375

    Amortization

    Hospital machinery and equipment

    (818)

    -

    885

    (67)

    -

    -

    Properties

    (1,679,650)

    -

    -

    (181,867)

    24,055

    (1,837,462)

    Vehicles

    (710)

    -

    44

    (305)

    -

    (971)

    (1,681,178)

    -

    929

    (182,239)

    24,055

    (1,838,433)

    Right of use, net

    3,053,023 190,983 - (182,239)

    (46,825)

    3,014,942

    1. Additions referring to new agreements and renewals due to maturities.

    2. Write-offs referring to contract termination.

    3. Transfer of assets from Hospital São Luiz Maternidade to Atlântica D'or.

    4. Transfer of assets from Hospital São Luiz Campinas to "Atlântica D'Or".

      The rights of use are amortized during the lease contract term and take into consideration the expected renewal, when management intends to exercise this right, and in accordance with the terms of the contracts.

  2. Insurance contract assets and liabilities

06/30/2026

12/31/2025

Insurance contracts

Assets

Liabilities

Assets

Liabilities

Long-term contracts (BBA/VFA)

-

14,960,235

45,716

14,636,576

Short-term contracts (PAA)

-

4,424,048

3,625

4,057,241

Total

-

19,384,283

49,341

18,693,817

Current

-

7,207,898

27,999

6,904,651

Noncurrent

-

12,176,385

21,342

11,789,166

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