Guidance.

Guidance

	2021	2022	2023	2024	2025	2026 Previous Guidance (May 2026)	2026 Current Guidance
Sales Volume (million tons)	0,76	0,85	1,06	1,17	1,31	1,15-1,25	1,15-1,25
Revenue ($ billion)	0,8	1,3	1,7	1,7	1,8	2,1-2,3	2,2-2,4
EBITDA Margin (%)	%9,8	%14,9	%18,2	%6,0	%7,4	%8-%10	%9-%11

• “In the first half of 2026, our financial and operational performance was in line with our expectations.
• In the second half of the year, we expect deliveries in the Infrastructure & Projects segment to continue accelerating as planned, the demand outlook and pricing environment in energy pipes to improve, and the efficiency-enhancing initiatives implemented at our facilities to make a stronger contribution to our financial and operational results.
• In line with these developments, we are revising our 2026 revenue and EBITDA margin guidance upwards, while maintaining our sales volume guidance.
• Under normal circumstances, guidance is disclosed four times a year, in conjunction with quarterly financial disclosures.