TOTVS' PRESENTATION
Investor Relations
2026/May
2
01 TOTVS
OUR STORY 3
Unique and consistent trajectory
1980 1990 2000 2010
2020
2026
STARTUP
Microsiga is born
WARM UP
Franchise System
NUMBER 1 BRASIL
TOTVS
is born
SIMPLIFYING THE BUSINESS WORLD
+ Cloud
+ SaaS
TRUSTED ADVISOR
Increase our relevance to clients
AI STRATEGY
TAM expansion and new growth cycle
1983
Laércio Cosentino and Ernesto Haberkorn found Microsiga Software S.A.
1990
Start of the pioneering exclusive franchise system for distributing TOTVS management solutions
1997
Start of international operations with the opening of a branch in Argentina
1999
Launch of ADVPL, its own programming language
2005
The corporate name is changed to TOTVS S.A. (a word that comes from Latin and means everything, everyone, totality)
2006
IPO and subsequent acquisition of RM Sistemas S.A. is carried out.
2008
Acquisition of Datasul and consolidation of the Brazilian management systems market
2011
Specialization strategy with the creation of software offerings by industry segment of customer operations
2014
Start of TOTVS Cloud operations
2015
Launch of the TOTVS Intera subscription commercial model for small, medium and large companies
2019
Launch of the strategic plan for a
3D Ecosystem to expand the TAM and continue growing
2021
Acquisition of RD Station and establishment of the RD Station business unit
2022
JV with Itaú to accelerate Techfin
2026
Launch of LYNN, the first B2B AI foundation in Brazil
2026…
~R$2.7 trillion(2)
of the economy are generated by our clients
1Q26 - Adjusted EBITDA
R$455 million EBITDA (+24% YoY)
28.7% EBITDA Margin
#1 ERP Company in Brazil(1) one of the largest technology companies, with absolute dominance in the ERP journey
1
+70k clients
of all sizes
1Q26 - Revenue Growth
16% YoY revenue growth
Which +90% is recurring
OUR NUMBERS 4
1Q26 - Adjusted Net Income
R$252 million (+17% y/y)
15.8% Adjusted Net Margin
1Q26 - EPS (LTM)
1.63, +21% increase versus 1Q25.
11 Consolidating Franchises spread throughout Brazil to serve our customers in the 37 franchised territories
14 customer relationship units
spread across Brazil, Argentina, Chile, Colombia, Mexico and USA
Source: Company and IBGE | Notes: (1) According to Market Share Enterprise Application software, 2021; (2) Internal company estimates; (3) Active companies listed on B3 that have common and/or preferred shares
WHAT IS TOTVS? 5
Purpose
Empowering the evolution of people and businesses
Strategy
Increasing our relevance within our client
Brand Idea
We are our clients' trusted advisor
UNIQUE BUSINESS MODEL
~⅓ of Companies2
listed on B3 are TOTVS customers and 62% of these companies have been with us for more than 10 years
Distribution Platform
Local and digital presence, based on a highly capillary distribution
FOR COMPANIES OF ALL SIZES
Combination of Digital + Physical Channels
With an increasingly strong presence and a hard-to-replicate model
Large Companies
More than 500
11 employees
K
623
K
Small and Medium (SMB)
From 10 to 500 employees
5.1
MM
Micro Companies
Up to 9 employees
TOTAL COMPANIES IN BRAZIL BY SIZE
M&A and Partnership
Successful growth strategy based on three main levers
ORGANIC
M&A
PARTNERSHIP
100%
2018
2024
100%
105%
113%
126%
154%
118%
133%
162%
180%
204%
2019
2020
2021
REVENUE YEAR
2022
2023
ARR
Cohort until 2018
2019 Cohort
2020 Cohort
100%
115%
133%
138%
2021 Cohort
2022 Cohort
2023 Cohort
100%
160%
189%
132%
190%
100%
129%
138%
173%
100%
112%
173%
Business Model
Recurring Rev. + High level of loyalty = High Retention rate
Governance
Highest level of Corporate Governance (B3: Novo Mercado)
+88%
free float
TOTVS is a true corporation, meaning it has no controlling shareholder.
National Non-Institutional Investor
National Institutional Investor
6 of 7
independent board members
International Investor
supported by four advisory committees, including the Statutory Audit Committee
03/2026
91%
7%
2%
6
Solutions Portfolio
Beyond the traditional ERP, we are the Trusted Advisor of SMEs
Go Digital
Digitalization and Innovative Credit Access
Exponetializing new and existing business
CX Digitalization
Captive and be relevant
TECHFIN
CREDIT
CASH MANAGEMENT PAYMENTS
RD Station
KNOW YOUR CLIENTS SALES GROWTH
IMPROVE CUSTOMER EXPERIENCE
Digitalization Company
Be agile and solid
Business As Usual
Companies
MANAGEMENT
PROCESS PEOPLE PRODUCTIVITY
Be Digital
Our Essence and Culture
Company Purpose: Empowering the evolution of people and businesses.
It's all about
people
Lifetime
clients
Innovate
together
HI + AI
(Human Intelligence + Artificial Intelligence)
Responsible
results
Clientes / Customers
Notes: ¹Company's internal estimates | ²According to the Enterprise Application Software Market Share
7
02 ADDRESSABLE MARKETSOFTWARE MARKET 8
TOTVS has grown above the EAS (Enterprise Application Software) market, which has consistently grown above Brazilian GDP and accelerated its pace in recent years
CAGR
2014-24
2020-24
Brazilian GDP (Nominal)(1)
6.6%
8.1%
Management Market(2)
TOTVS Management(3)
13.4%
15.6%
2x
Brazilian GDP (Nominal)
(1)
(2)
14.9%
18.7%
1.8x
Brazilian GDP (Nominal)
(1)
1.2x
Management Market
1.3x
Management Market
(2)
RD Station Market(2)
TOTVS RD Station(4)
23.7%
62.4%
3.6x
Brazilian GDP (Nominal)
(1)
(4)
23.8%
32.7%
2.9x
Brazilian GDP (Nominal)
(1)
2.6x
RD Station Market
1.4x
RD Station Market
(4)
Sources: (1) BACEN; (2) Gartner; (3) TOTVS - Management Recurring Revenue; and (4) TOTVS - Revenue from RD Station in 2014.
JOURNEY OF THE EXPANSION OF THE MANAGEMENT SOFTWARE TAM:
FROM APPLICATION TO TASKS, VIA CLOUD 9
Client TCO 25X Management SW TAM 1X
Tasks
20X
Client TCO 24X Management SW TAM 4X
Tasks
20X
Client TCO 19X Management SW TAM 19X
Tasks
15X
Environment
4X
Environment
3X
Environment
3X
Applications
1X
Applications
1X
Applications
1X
Until the 2010s
Up to 2026
From 2026 onwards
Solid lines define TOTVS's Addressable Market
03 TOTVS AI STRATEGYCONTEXT 11
AI's Economy
Jensen Huang's 5-layered cake
The bottom 4 layers represents the infrastructure AI "supply", and its is where the initial impact of the AI economy happens, particularly in chips and LLMs.
However, for all this investment to yield its proper return, the top layer, applications, especially corporate ones, must grow consistently.
5th: Application
4th: LLM's Models
3rd: Data Centers
2nd: Chips
1st: Energy
How will it grow?
The most significant shift brought by AI to enterprise applications is the emergence of agents.
Enterprise software never had the capability to perform tasks. That responsibility resided solely with human users. With AI, there is a real opportunity to replace a relevant portion of this
human-user expense with agents. This transition is the primary catalyst for growth.
12
Why AI agents have not blossomed yet for these tasks?WHY WE'RE GOING TO WIN 13
Startups
LLM's
Clients (DIY)
Dominant Software Players
Players
Attributes
a) Accuracy and repeatability
b) Security and governance
Attributes and capabilities of the different players within the TAM of tasks/agents
accuracy and repeatability above 99.9% in most situations.
permanent maximum levels of security, governance, and auditing.
large-scale
sector-specific expertise and data with a long history.
focus and evolutionary capabilities to keep this management software and their AI agents structure up-to-date and state-of-the-art, perpetually.
all of the above at a permanently competitive cost.
d) Evolutionary capabilities
TOTAL
c) Expertise and data access
e) Cost
competitiveness
Only 25% of "AI-native" ARR (equivalent to 0.2% of the total enterprise software market) comes from the "end-use" modality (agent consumption); the other 75% comes from the "enabling" modality (development of tooling for building agents).
This is exactly where the narrative is far ahead of the prevailing reality.
Dominant players possess the data, both at the client and industry levels that are the fuel for accuracy and repeatability, especially through Artificial Specialized Intelligence, have unquestionable experience in security, governance, and auditing, total focus, combined with a proven track record in evolutionary capability and their combination of scale and specialization ensures good
cost-competitiveness.
In Management, the criticality of these solutions, coupled with the SMB profile of the clients, results in a slower
adoption pace.
Source: TOTVS's research
Execution of the AI strategy 14
AI
Enablers
T-Cloud Universalization
PaaS
IaaS
Clients with organized databases and up-to-date systems
TOTVS DB
Take Rate Increase
API
Control
GOVERNANCE
Focus on
SMB
Lead AI for the SMB
LYNN
Enterprise Layer
Agent Builder
TaaS
Software CAPEX
Increase
Agent Development
15
LYNN COMPONENTS ARE: 16
LYNN
Agent Builder
LYNN
Our proprietary platform
for building AI Agents.
It provides users access to all leading Generative AI models (LLMs, SLMs), allowing them to choose the most suitable one for
each use case.
Enterprise Layer
The layer responsible for the orchestration and observability of agents activities, whether executing tasks within their scope or interacting with other application software from TOTVS or third parties.
LYNN
Governance
Responsible for all governance (definition of scope, approval authority/limits) and security in the use of AI resources within the LYNN Foundation.
TaaS - TASK AS A SERVICE
TaaS Pricing Model
Floor
Token costs and other relevant inputs plus TOTVS' margin
Ceiling
Cost of human users minus a discount that reduces client TCO
THANK YOU
Investor Relations
+55 (11) 99585-7887
ir@totvs.com.br
totvs.com
@totvs/totvs
@totvs
/totvs company/totvs