2025 Integrated Report

Integrated Report 2025

‌TOTVS strategy 23

Risk management 61

natural resources 101

Table of contents

Integrated Report 2025 02

About the report 04

Message from the Board of Directors 06

Message from the CEO 08

Highlights of the year 10

Sustainability at TOTVS, a vision for the future 12

‌Presentation Integrated Report 2025 03

‌About the report

GRI 2-1 / GRI 2-2 / GRI 2-3 / GRI 2-5 / GRI 2-14

We present the 11th edition of TOTVS

S.A.'s Integrated Report, a publicly held company with shares traded at B3 and headquartered in São Paulo (Brazil).

The document, published annually,

consolidates the key strategic, operational, and value-generation highlights for

2025 and underscores our continued

commitment to transparency.

Under the coordination of the Sustainability area, the Report was structured based on the strategic pillars and material topics defined by the company. The governance process for the document contemplates validation by the Executive Vice President of Finance and Administration, a recommendation from the Statutory Audit and Governance and Nomination Committees, and final approval by the Board of Directors.

For the fifth consecutive year, the Integrated Report has been submitted

to limited external assurance by KPMG Auditores Independentes Ltda., which is also responsible for TOTVS financial

statements. The assurance was conducted according to NBC TO 3000 (equivalent to ISAE 3000), based on GRI Standards, SASB Standards, and CVM Resolution n. 14, which approved Technical Guideline CPC 09 -Integrated Report, aligned to the structure of the International Integrated Reporting Council (IIRC), under governance of the IFRS Foundation.

Pursuant to item B38 of IFRS S1, the financial disclosure related to sustainability is aligned with the Company's Financial Statements. As such, the same entities included in the scope of the TOTVS financial consolidation form the basis considered for the data presented in this Report, ensuring consistency, comparability, and alignment between the financial and non-financial information disclosed.

Integrated Report 2025 04

The Financial Statements were published on February 12, 2026, and this report on April 30, 2026, both referring to the period from January 1 to December 31, 2025.

Some indicators presented in this report were altered in 2025, pursuant to the Financial Statements. The assets and liabilities of Dimensa were classified as maintained for sale and its results are now presented as discontinued operation.

In this document, Dimensa is still mentioned in certain data such as headcount, gender, race and region, turnover, water and energy consumption, waste generation and emissions, pursuant to the availability and approach for each indicator. The footnotes of the tables detail the scope considering any adjustments made.

For more information, we recommend reading the Company's Financial Statements prepared in accordance with International Standards. Details on the incorporated

entities are available in Section 1.2 of our Reference Form

, and financial results can be accessed through our Results Center .

Standards and references used

Global Compact - UN initiative to engage companies and organizations for the adoption of ten principles in the areas of human rights, environment, and anticorruption

Global Reporting Initiative (GRI)

International Integrated Reporting Council (IIRC)

International Financial Reporting Standards (IFRS) - International

financial sustainability standards such as IFRS S1 and S2

International Sustainability Standards Board (ISSB) - Body established

by the IFRS Foundation to set global sustainability disclosure standards

Sustainability Accounting Standards Board (SASB) - Applicable to

technology companies, particularly the software and information technology industries

Good reading!

For questions, suggestions, or requests for additional information, please contact

sustentabilidade@totvs.com.br .

For financial information, please contact ri@totvs.com.br .

Integrated Report 2025 05

‌Message from the Board of Directors

GRI 2-22

2025 was a challenging year, but we reaffirmed our unique ability to renovate by adapting to complex scenarios. We focused on medium and long-term opportunities, emphasizing innovation. The history of TOTVS is marked by a pioneering spirit that allows us not only to navigate change, but also to be protagonists in technological transformations in Brazil. As I usually say, our role is to be "equal, while always being

different": We maintain our values of solidity and resilience while evolving at the pace required by the digital revolution.

TOTVS combines two essential characteristics of long-lasting companies: a long-term vision that anticipates trends and opportunities, and strong execution capabilities. We look ahead to drive

action in the present. We began 2025

focusing on developing our IDeIA (AI and Data Intelligence) and closed the year with the consolidation of LYNN, the first Brazilian AI foundation. We no longer speak of technological power to deliver applied productivity. TOTVS Management,

RD Station, and Techfin reached an unprecedented level of integration, allowing technology to be omnipresent in our clients' growth journey.

In an increasingly globalized world where technologies are increasingly similar,

the true differentiator is people. To be recognized as one of the best companies to work for allows us to attract the "restless" talents who, with different accents but

one single voice, build daily the future of Brazilian technology in our headquarters and franchises.

Our achievements in 2025 reflect this commitment. Being among the giants in the GPTW Ranking for the first time and in the Top Employers Ranking reaffirms our mission to have a positive impact on our collaborators and clients alike. We maintained a solid financial trajectory and spotless reputation and are again among the most valuable and innovative brands of Brazil. In this context, we are prepared for a new growth cycle sustained by solid governance that ensures responsible

decisions, risk management, integrity, and alignment between strategy and long-term value generation.

TOTVS believes in "the Brazil that gets things done". In this context, 2025 marked a milestone for digital inclusion through the Brazil Digital 2030+ Plan (BD30+), which

We look ahead to act in the present. In 2025, we created Brazil's first AI foundation.

Integrated Report 2025 06

spans from data processing infrastructure to the development of people and businesses. In partnership with the Brazilian Association of Information and Communication Technology and Digital Technology Companies (BRASSCOM) and BD30+, we continue to contribute to the development of public policies that position digitalization as a pillar of national sovereignty.

In the same vein, the Instituto da Oportunidade Social (Institute of Social Opportunity) (IOS) remains our main source of pride and renewal, training thousands

of young people and ensuring that technological progress walks hand in hand with social inclusion. For us, sustainability is about guaranteeing the ecosystem's longevity and uniting ethics, governance, and responsible outcomes.

Looking toward the horizon, the challenges Brazil confronts remain the driving force behind our evolution, inspiring us to deliver innovation with quality and long-term performance. The acceleration of the digital transformation was always our commitment. In truth, a data-driven economy is not a

future trend; it is the reality that TOTVS dominates and simplifies things for companies of all sizes. We are the trusted advisor, allowing Brazilian entrepreneurs to focus on what they do best: innovating and creating value.

I conclude this message by thanking our shareholders, customers, partners, and employees. Your trust allows us to continue leading this market. The name TOTVS, meaning "everything and everyone" has never been more relevant. We remain vibrant and focused on a Brazil that produces, innovates, and performs. 2025 was a year of extraordinary evolution, and we are ready for the next chapters of this successful journey.

Laércio Cosentino, Founder and Chairman of the Board of Directors

Integrated Report 2025 07

‌Message from the CEO

GRI 2-22 / GRI 203-2

In 2025, Artificial Intelligence (AI) was effectively integrated into TOTVS's day-to-day operations, across internal processes and client solutions, with a focus on productivity and efficiency

gains. Our competitive advantage remains the combination of human and artificial intelligence (HI + AI), as we believe AI should enhance human capabilities rather than replace them.

Over the past year, we maintained revenue growth above the market and the GDP, achieving 27 consecutive quarters of double-digit growth and increasing the EBITDA margin and profitability across all business units. This performance reflects our commitment to delivering responsible,

results-oriented performance, grounded in integrity and exceeding goals, without pursuing growth at any cost.

A clear cultural principle guides our activity: Clients are for life. This view mobilizes the organization and sustains long-term relations (many lasting more than 2 decades), reflecting TOTVS's role as clients' main technology partner and trusted advisor. In 2025, this position led to a historic NPS driven by a model that combined close relationships, local

presence, and extensive data use to boost service efficiency and delivery quality.

We are a single TOTVS, and by 2025

we worked on this synergy, which

will materialize in the convergence of business models, the expansion of cross-portfolio presence, and the development of combined offerings that seamlessly connect front office, back office, and financial solutions. This is in addition to our MGA strategy, which focused on acquiring Linx, the software reference for retailers in Brazil.

TOTVS Management's highlights included expanding and modernizing the portfolio, advancing the cloud agenda, evolving deployment services, and the practical application of AI in management systems. Techfin consolidated its strategic foundation after renewing its leadership and team, accelerating innovation with

We want to be the largest B2B AI Company in Brazil, anchored in collaborative innovation that goes beyond technology.

Integrated Report 2025 08

a single, modular platform, validating the ERP Banking thesis, and expanding native integration of financial journeys into ERPs. RD Station, in turn, advanced in the multi-product, multi-channel, and multi-ICP model, robust portfolio, integrated journeys, and embedded AI across 100% of the products, including the launch of RD Copilot and Agents' Marketplace.

From the certainty that People are everything, we focus on the full development of people, combining active listening, continuous learning, and creating an environment that fosters protagonism, collaboration, innovation, and restlessness to deliver the best work and results. This effort materialized in

the unprecedented achievement of the

Top Employers certification, which positions TOTVS among the best in human resources management processes.

At the same time, we advanced our five cultural drivers to guide our more than 12,000 employees and introduced the Company's new brand, reinforcing the convergence of our business units into a

single TOTVS and the dynamism that lies at the core of the Company. We constantly evolve and believe that technology is a

transformative force when it serves people and businesses. For over 27 years we have supported the Instituto da Oportunidade Social (IOS) and, in 2025, with an investment of R$ 8.3 million, more than 1,500 young people have secured employment.

The consistency of our strategy and values, the soundness of our execution, and the strength of our ecosystem enable us to advance with confidence, delivering results that make sense by creating value for all. We will continue side-by-side with thousands of companies that move the

economy, innovate, generate jobs, and build the country's future. Because the Brazil that gets things done, does it with TOTVS. We are grateful to all collaborators, clients, partners, shareholders, and investors for their trust and for being with us in this trajectory of transforming Brazil.

Dennis Herszkowicz, CEO

Integrated Report 2025 09

‌Highlights of the year

829

R$ M+

invested in Research and Development (RCD), representing a 16% increase compared to the previous year

Rebranding

Launch of the new brand identity and architecture

AI literacy

is available to employees

R$ B

5.8

Consolidated Net Revenue (17.4% vs. 2024)

1.5

K+

IOS youth got a job

40

%+

of our leadership positions are

represented by women

R$ M

8.3

invested in the Instituto da Oportunidade Social (IOS)

29.8

K+

people impacted in the Universo TOTVS (111% higher than 2024)

15

%+

of our leadership positions

are held by black people

Integrated Report 2025 10

Main awards and recognitions

PS5TOTVS

Top Employers certification

This achievement places TOTVS among the best global practices of people management.

GPTW ranking

For the sixth consecutive year, TOTVS has been included in the ranking of the 175 best companies to work for among large companies and in two other categories.

Forbes Brazil TOTVS is among the 10 most innovative companies in the country.

Ethos/Época Inclusion Award 2025

Granted by Instituto Ethos in partnership with Época Negócios, TOTVS stood out in inclusion and diversity, obtaining the 1st place in the Technology Sector.

Employers for Youth Ranking Brazil (EFY)

TOTVS was recognized among the best companies for professionals under 35, reaching the 5th position in the ranking.

Vittude awards

TOTVS was awarded for its commitment to promoting mental health through prevention, welcoming, and emotional wellbeing actions.

Brandirectory ranking Brazil

TOTVS is among the 100 most valuable brands in the country, based on a methodology that combines financial indicators, market research, and brand analysis. TOTVS ranked 76th, the best position in its history.

National Quality of Life award

For the 5th consecutive year, TOTVS wins the award in the silver category, reinforcing its position among the companies with the country's most renowned well-being programs.

World's Most Trustworthy Companies 2025, Newsweek magazine

TOTVS reached the 18th position in the Software G Telecommunications ranking of the most trusted companies worldwide and is the only Brazilian company positioned

in this category.

Integrated Report 2025 11

‌Sustainability at TOTVS, a vision for the future

In 2025, we advanced our sustainability approach and deepened our understanding of how we interact with the ecosystem

in which we operate. We began to adopt an integrated view of our connections, dependencies, and potential risks, considering the regulatory environment, society, business context, and climate

change. We remain guided by the pursuit of responsible results and are attentive to the impacts of our strategies.

This evolution enabled us to identify and reinforce solid pillars while strengthening the Company's readiness to face

future challenges. Among these, we highlight regulatory changes, social

and generational trends, the integration

of the business environment with new technologies, and, most of all, the need for a preventive and resilient posture toward climate change, which already

impacts sectors relevant to TOTVS, such as agribusiness, food, and manufacturing, among others.

From this perspective, we revisited how we connect material issues to operational and business risks, strengthening the

integration between strategy, risk management, and sustainability. At

the same time, we advanced resilience in practice by developing studies and

contingency plans that expand our ability to anticipate and respond to adverse scenarios. IFRS S1 and S2 standards served

as important references in this process, contributing to mature discussions on

materiality, controls, interdependence, and opportunities for sustainable long-term

value generation.

This strategy was reflected in a more consistent integration of information and the involvement of a larger number of TOTVS's areas, enabling a more faithful view of the impact of a pulverized Company, both regionally and across its portfolio of solutions. This action model consolidated a collaborative construction hub, reflecting not only the strengthening of governance but also the engagement of more than

the company's 50 teams in building a

responsible future.

For TOTVS, sustainability is a way to manage, connect risks, opportunities, governance, and vision for the future to add value in the long term.

Integrated Report 2025 12

Materiality

GRI 2-14 / GRI 2-29 / GRI 3-1 / GRI 3-2

Data collection and validation

GRI 3-3 - Management of material topics

Over the last year, we continued the current Materiality, valid for the 2024-2025 cycle, ensuring strategic alignment in the management and reporting of priority topics. We maintained the eight topics, which guided the prioritization of impacts, risks, and opportunities and supported the Company's sustainability agenda.

In this regard, the adoption of

double materiality is consolidated as a fundamental strategy for our business model. Unlike sectors in which the impacts are directly associated with the product

or production processes, the role of a technology company is reflected in its institutional positioning, its influence on

business ecosystems, its ability to generate digital capabilities, and its role in enabling the transformation of entire sectors of the Brazilian economy. By integrating all these points into our analysis, we broadened our view of our performance. This approach allows us to understand how TOTVS, as a social agent, strategic partner to companies, and technology pioneer in Brazil, influences economic, social, and environmental dynamics beyond the direct use of

our solutions.

Double materiality, therefore, enhances our ability to make more informed strategic decisions, aligning growth, innovation, and responsibility. By incorporating this logic

into our management, we reinforce our commitment to building resilient business models that generate long-term value for TOTVS, our customers, and the ecosystem in which we operate.

Details of the materiality review process, which defined the priority topics for the 2024 and 2025 cycles, are described in the 2024 Integrated Report .

Materiality will be renewed in the next cycle, 2026-2027. This movement reinforces our ongoing commitment to advancing the sustainability agenda.

We collect the information reported in GRI 3-3 through interviews with leaders directly related to each material topic. We selected managers, executive managers, and officers whose areas have an interface with the topics evaluated in advance, ensuring alignment with our strategy, governance, and management practices. The interviews are conducted in a guided-dialogue format based on the GRI Standards and supported by expert consultants. To ensure traceability, reliability, and transparency, we register and store recordings, transcripts, and support materials in a corporate repository, facilitating verification and audit processes.

See the Appendix (page 110) for detailed information on the prioritized impacts and risks for each material topic.

Integrated Report 2025 13

TOTVS Materiality

GRI 3-2

In this representation, the topics

positioned towards the left of the graphic indicate greater financial impact, while

those to the right reflect greater socio-

environmental impact. The topics located in the center represent a balance between financial and socio-environmental

impacts. The vertical position of the topics

indicates priority by relevance; those

located in the highest areas of the graphic are considered priorities.

1. Transformation and innovation in business model

2. Sustainable growth

   4

   3

   RELEVANCE

   6 7

   1 2 5

3. Attraction, retention, and development of people

4. Information security, data protection, and privacy

5. Ethical and responsible governance

8 6 Diversity, inclusion, and

elimination of discrimination

1. Management of environmental impacts and climate change

   FINANCIAL IMPACT SOCIO-ENVIRONMENTAL IMPACT

2. People's health and well-being

Integrated Report 2025 14

TOTVS contributions to UN Global Compact movements

GRI 2-23 / GRI 203-2

Market indexes and institutional commitments

Main commitments: to promote mental health and well-being (SDG 3), integrating them into the corporate strategy,

focusing on building a healthy work environment, expanding continuous care, and combating stigma related to mental health.

Contributions from TOTVS: in 2025, we boosted mental health and well-being promotion through the +Saudáveis (+Healthier) program, expanding

access to services such as online

psychology and telemedicine, as well as prevention, awareness, and continuous care initiatives. These initiatives

stress an integral care approach,

focused on balanced day-to-day work and on building a psychologically

healthy environment.

Main commitments: to contribute to quality education (SDG 4) by strengthening partnerships and using technology as

a vector of inclusion and expansion of educational impact.

Contributions from TOTVS: we reinforced our role as an agent of educational transformation through the Instituto da Oportunidade Social (IOS), which, in partnership with strategic

organizations, delivers free courses aligned with professional practice. Using digital tools, corporate software, and technological content, we expanded young people in situations of social vulnerability's access to vocational training, contributing to reducing socioeconomic barriers and promoting educational inclusion. In 2025, we graduated over 1,800 students.

Sustainable technologies

PG01TOTVS

We integrate sustainability across our portfolio and through specific solutions directed to the ESG agenda. In 2025, we had a total of 615 active offerings, including three partner solutions focused on ESG management and reporting. In broad terms, our technologies drive digitalization and operational optimization processes, contributing to reducing consumption

of physical resources, greater logistics efficiency, and better use of raw materials, generating economic and environmental gains for our customers.

We highlight the ESG Management by DEEP

platform, incorporated into our portfolio

in 2024, which evolved in 2025 with new offerings and enhancements. The solution unites carbon inventory calculation modules based on the GHG Protocol methodology, integrated with our ERPs, and tools that support reporting aligned with recognized frameworks, such as GRI, CDP, SASB, and IFRS S1 and S2. With this, we strengthen our position as a provider of technology applied to sustainability and support our customers in consolidating their ESG journey.

Integrated Report 2025 15

Who we are 17

TOTVS strategy 23

A full-solution ecosystem 25

Financial performance 35

How we generated value in 2025 38

‌TOTVS, the largest Brazilian

technology company

Integrated Report 2025 16

‌Who we are

GRI 2-6

For more than four decades, we have fulfilled a clear purpose: to boost Brazil's

development through technology. Since our origins, we have been an essential agent in the digitalization of the Brazilian economy, supporting companies across sectors and sizes to grow, become more efficient, and remain competitive in an ever-transforming environment. This trajectory consolidates

us as the main Brazilian technology company and one of the largest software developers worldwide.

This protagonism is evidenced by a robust, innovative, and integrated portfolio of solutions that supports the operation and evolution of thousands of companies throughout the country. Our ecosystem connects enterprise management systems (ERP, HCM, among others), solutions

for marketing, sales, e-commerce, and integrated financial services, offering a unique proposal to meet the actual needs of business throughout the Client's Journey.

By uniting technology, deep market knowledge, and client proximity, we act as a strategic partner in the companies' growth and, consequently, strengthen the Brazilian economy. Our focus is to

generate real impact: increase productivity, efficiency, profitability, and competitiveness, contributing directly to the sustainability

and continuity of the businesses that move the country. A culture of innovation, entrepreneurial spirit, service excellence, and a consistent growth strategy supports this drive.

With countrywide operations, presence in Latin America, and international expansion, we broaden our reach without losing our essence: to develop technology with a longterm vision, aligned with the demands of Brazil and capable of transforming realities. That is why we are present in everything that drives companies and, consequently, the country's development.

We believe in the Brazil that gets things done - and we know that the Brazil

that gets things done, gets things done through TOTVS.

TOTVS: our Latin name means everything, all people, totality. This is precisely the essence of what we propose to do in the universe of technology: everything.

Check our institutional video .

We are a true trusted advisor for thousands of companies based on

long-term relationships, deep customer knowledge, and an integrated portfolio.

Dennis Herszkowicz, CEO of TOTVS

Integrated Report 2025 17

Our numbers

70

K+

clients of all sizes

+

1/3

of the companies listed on B3 are

TOTVS's clients and 62% of them have been with us for more than 10 years

40

We serve clients in

+

countries

12

K+

employees

%

55

market share in Brazil, with a clear

leadership position in ERP solutions

35

%

market share in Latin America

Integrated Report 2025 18

Our trajectory

Entrepreneurial origin

1983

Birth of the TOTVS brand

2005

Market expansion and growth

2006-2008

Specialization and technological transformation

2011-2015

Foundation of Microsiga, focusing on the development of management software for Brazilian companies.

Creation of the TOTVS brand, consolidating acquisitions and strengthening the leadership in the Brazilian management software market.

IPO and strategic acquisitions (RM Sistemas and Datasul) that consolidated TOTVS as the main Brazilian player.

Strategy of specialization by segment, advancement of the SaaS model, and start of cloud operations, increasing efficiency and scale.

The beginning of the three dimensions

2019

Portfolio expansion

2021-2022

Evolution of the business model

2022-2023

Evolution: one single TOTVS

2025

Acquisition of Supplier and creation of the Techfin unit. Follow-on raising R$ 1,066 billion.

Announcement and completion of the acquisition of RD Station, strengthening TOTVS's performance in digital marketing, sales, and customer relations solutions.

Consolidation and strengthening of the three business units: TOTVS Management, Techfin, and RD Station, supported by MGA and follow-ons.

Presentation of the new brand identity and architecture, reinforcing TOTVS's position as a complete technology ecosystem in which business units converge into a single TOTVS.

Check out the video about our trajectory .

Integrated Report 2025 19

Where we are present

GRI 2-1 / GRI 2-6

In 2025, we advanced our brand evolution and office modernization strategy, focusing on collaborative areas, executing retrofit projects in Ribeirão Preto and Belo Horizonte, in addition to expanding the Maringá unit.

Considering our franchise system, we are present in all Brazilian cities with more than 200 thousand inhabitants.

11 consolidator

franchises

operating in 26 states and 37 franchise units

Check here the complete list of our own units and franchises in Brazil and worldwide.

8 offices dispersed in 5 countries abroad

Argentina, Chile, Colômbia, México, and the US

Head office in São Paulo

6 regional offices

Rio de Janeiro, Recife, Minas Gerais, Santa Catarina, Goiânia and Rio Grande do Sul

Integrated Report 2025 20

2025