Apresentação Governança

INVESTOR PRESENTATION



TODAY'S AGENDA

VIBRA AT A GLANCE: POSITIONED TO LEAD 4

BUILT FOR RESILIENCE: OUR 5 GROWTH AVENUES 9

DISCIPLINED EXECUTION WITH STRONG GOVERNANCE 16

APPENDIX 26

3

1

Vibra at a Glance Positioned to Lead

Vibra Energia: Delivering Consistent Cash flow, Attractive Dividends and Disciplined Growth

Positioned to lead Brazil's energy transformation

Leader in fuel distribution, aviation, and

B2B diesel in Brazil

R$6.3B Adjusted EBITDA12024

Adjusted EBITDA Margin above R$140/m³ for 9 consecutive quarters

Clear dividend policy, high FCF

Investment Grade (BBB-) Global by S&P

Adj. EBITDA(1)and Adj. EBITDA Margin

R$bn; R$/m3

Adj. EBITDA CAGR 19-24A: 14.8%

7,3

1,1

6,3

Pro forma 2024A

133

169

175

129

104

5 strategic growth avenues: Retail, B2B, Logistics, Lubricants and Renewables

Source: Company Filings as of 4Q24.

Notes:. (1) Adjusted EBITDA excludes the extraordinary tax recovery of R$2,591mm in 2023 and R$4,610mm in 2024.

Vibra Vibra Margin Standalone

Where We Came From

From a SOE (Petrobras) to a True Corporation

BR SOE Follow On

Privatization Turnaround

Follow On True Corporation

IPO 2017

Follow-on 2019

Follow-on 2021

28.75%

Free float

71.25%

62.5%

Free float

37.4%

100%

Free float

0%

New Brand

Core Business &

Energy Transition

2017 Jul/2019 Dez/2019 Jul/2021 Ago/2021 Out/2021 onwards...

Undisputed Leadership in Brazil with Incomparable Logistics Infrastructure

31% of the fuel used by companies in Brazil(1)

Operational Highlights

92 Fuel Distribution Facilities

94 Aircraft Fueling Facilities at Airports

The Largest Lubricant Plant in Latin America

UNDISPUTED LEADERSHIP IN FUEL DISTRIBUTION ACROSS

THE COUNTRY

LONG-STANDING RELATIONSHIP WITH B2B CLIENTS AND LEADING

AVIATION MARKET POSITION

LUBRICANTS AS A KEY GROWTH AVENUE WITH LUBRAX AS A

TOP-OF-MIND BRAND

RENEWABLES INITIATIVES FOCUSING ON RETURN WITH

COMERC'S ACQUISITION

INCOMPARABLE LOGISTICS INFRASTRUCTURE BEING THE ONLY

DISTRIBUTOR IN ALL STATES

+1,400

~8,000

Gas Stations

Market Share

Leader

B2B Diesel and Aviation

Convenience

Stores

+10,400

B2B Clients

Largest Lubricant

Factory in LatAm

+1,700

Lubrax+ Stores

+2.1 GW(3)

Installed Capacity

96(2)

Power Plants

+2,300 cities

Distribution Centers

+1.6 mm m3 Total Static Tank Capacity

Source: Company Filings.

Notes: (1) In terms of volume of fuel distributed in 4Q24 (branded network). (2) Considers 84 distributed solar generation powers plants, 9 centralized solar generation power plants and 3 centralized wind generation power plants. (3) @ Comerc's stake.

Strong Brand Ecosystem

Leading the market with diversified product offerings across main segments

Brands Products

Products

27%

45%

2024 Volume

Sold

(thousand m3)

12%

4%

10%

1%

1%

Breakdown

Fuel distribution and service stations across Brazil

Automotive service network providing maintenance and lubrication solutions with Lubrax product

Convenience store chain within Vibra's service stations, offering food, beverages, and everyday products

Fuel and energy solutions for businesses

across various industries in Brazil

Aviation fuel distribution and supply at

airports across Brazil

High-performance lubricants and specialized solutions

• Gasoline, diesel, ethanol, and natural gas

• Convenience and oil services

• Lubricants and Diesel Exhaust Fluid

  (DEF)

• Nautical service stations

• Industries, Railways, Agribusiness and Navigation: Petcoke, Diesel, Energy Solutions, Fuel Oil, Lubricants, Process Oils, Solvents, Sulfur, Specialty Products, Solvents, Marine Diesel

• Aviation: Aviation fuel, AVGAS and BR Aviation Center (Convenience for General Aviation)

  Diesel
  Gasoline
  Fuel Aviation
  Ethanol
  
  
  Fuel Oil
  Other
  Lubricants
  
  

  Market Share per Product

  
  
  

  Renewable energy solutions, including power generation, trading, and decarbonization strategies

  • Renewable electricity

    Renewables

1st

1st

1st

1st

1st

75%

18%

40%

39%

18%

20%

60%

31%

20%

23%

3%

Diesel Otto Cycle 1

Fuel Oil Aviation Gasoline

Aviation Kerosene

Raízen

Ipiranga

Peer 1 Peer 2

Others Vibra Energia

Source: Company filings, Agency Rating reports and IBP.

Note: (1) Otto Cycle considers Gasoline and Ethanol Market Share as of 2024

2

Built for Resilience: Our 5 growth avenues

01

Undisputed leadership in gas stations

02

Expanding our offerings for B2B clients

03

Expanding our logistics capacity

04

New ambition in lubricants

05

Renewables with

return

Our 2030 Ambition: Disciplined Growth

• Market share leader in the branded network in Brazil

• Leader in additive fuels in Brazil

• Largest player with

  ~3mm m3 of fuel sales

  volume per month

• Market share leader in the B2B diesel market

• Leadership in the

  aviation market

• Entry into the supply of natural gas for clients in the free market

• Vibra's competitive logistics costs estimated 15-20% below the market average

• Expansion of the logistics footprint (Belém, Santarém, Porto Açu)

  ▪ +200 operational units (bases, airports and customer sites) in all states

• Largest lubricants factory in Latin America, and top 5 globally

• Lubrax+ is the 6thlargest franchise in Brazil

• Presence in 6 countries in

  Latin America

• Integrated Platform for Renewable Solutions in Energy and Decarbonization.

• Focus on distributed generation and energy efficiency projects

• Centralized generation and asset recycling opportunities