Três Tentos Agroindustrial (TTEN3) filed clarifications on July 29, 2026 with the Brazilian Securities and Exchange Commission (CVM) regarding meetings held on July 28, 2026 with analysts from financial institutions that cover the company. The notice responds to an official CVM request prompted by a report in Veja magazine about a 12% drop in the shares after reports of a closed-door meeting with analysts.
In the document, Três Tentos states that meetings with sell-side analysts are routine for publicly traded companies and that it follows governance practices aimed at the equitable and symmetrical treatment of information. According to the company, the meetings covered only information that was already public about the company itself and about the agribusiness market, with no presentation of new operating or financial data, nor new projections or revisions of previous projections.
The company emphasizes that any conclusions by analysts regarding Três Tentos’ operating and financial performance arose exclusively from their own analyses, models and independent assumptions. The company reiterates that it did not provide any specific data that had not been previously disclosed to the market.
According to the material fact notice, the meetings addressed the more challenging agribusiness environment, marked by lower prices for agricultural commodities and biofuels, such as soybean meal and biodiesel, and by rising costs, especially freight. Três Tentos notes that commodity prices are referenced to the Chicago Board of Trade (CBOT), biodiesel prices are available on the website of the National Agency for Petroleum, Natural Gas and Biofuels (ANP), and freight floors are listed in the official schedule of the National Land Transport Agency (ANTT).
Based on this set of factors, the company concludes that the information discussed in the meetings was public in nature and does not fall under the concept of a material fact as defined in CVM regulations, which is why it did not deem it necessary to disclose a specific material fact regarding the meeting with analysts.
