Guidance.

Guidance

	2021	2022	2023	2024	2025 Guidance vs Actual		2026 Guidance
Sales Volume (million tons)	0,76	0,85	1,06	1,17	1,20-1,35	1,31	1,15-1,25
Revenue ($ billion)	0,8	1,3	1,7	1,7	1,7-1,9	1,8	2,1-2,3
EBITDA Margin (%)	%9,8	%14,9	%18,2	%6,0	%6-%8	%7,4	%8-%10

• In 2025, sales volume reached 1.31 million tons, revenues amounted to USD 1.8 billion, and the EBITDA margin stood at 7.4%, in line with expectations.
• For 2026:
  • Supported particularly by contracts signed in the Infrastructure and Project segment, sales volume is expected to range between 1.15–1.25 million tons, while revenues are projected to be in the range of USD 2.1–2.3 billion.
  • With the continuation of operational efficiency initiatives and a higher share of value-added products in the product mix, the EBITDA margin is expected to increase to a range of 8%–10%.
• Under normal circumstances, guidance is disclosed four times a year, in conjunction with quarterly financial disclosures.