Ambipar Participações e Empreendimentos S.A. is the holding company of Grupo Ambipar, founded in 1995 by Tercio Borlenghi Junior starting from the operation of two waste treatment centers in the State of São Paulo. Since its inception, the group has focused its activities on waste recovery and the development of alternative solutions for different types of industrial disposal. In 1996, it expanded into logistics, with the transport and management of waste within large companies, consolidating the segment that would later be named Ambipar Environment. In 2008, the business structure was expanded with the creation of the Ambipar Response division, focused on responding to environmental emergencies and crisis management, establishing two complementary business pillars. In 2010, with the creation of the holding company Ambipar Participações e Empreendimentos S.A., a process of corporate reorganization, process integration, and rebranding began, unifying the Ambipar brand across different companies in the group and reinforcing the perception of an integrated environmental services platform.

Throughout the 2010s, Ambipar combined organic growth with the acquisition of specialized companies, expanding its portfolio of environmental services and strengthening its position in waste management and recovery, as well as in environmental emergency response through the Ambipar Environment and Ambipar Response segments. During this period, the company also began its internationalization, with operations in Chile and Peru, evolving into a global presence. On July 13, 2020, the company carried out its initial public offering on B3 S.A. – Brasil, Bolsa, Balcão, and its shares began trading under the ticker AMBP3, in the Novo Mercado listing segment. With this, Ambipar became the first environmental management company listed on the Brazilian stock exchange, committing to corporate governance practices aligned with the most demanding standards of this segment.

Ambipar’s business model is structured into two main operating segments: Environment and Response, in addition to a residual segment classified as Others, dedicated to technology, environmental innovation, and financial solutions for the group’s ecosystem. The company positions itself as a global provider of environmental services and emergency response, supported by an international platform with more than 600 bases in 41 countries, serving over 15,000 clients across various industrial sectors. In the fiscal year ended December 31, 2024, adjusted net operating revenue, excluding asset sales, totaled approximately R$ 5.77 billion, with around 48% to 49% of net revenue concentrated in Environment and just over 51% in Response. In terms of adjusted EBITDA generation in 2024, the Environment segment accounted for about 54% of the total, while Response represented approximately 45%, demonstrating balanced economic relevance between the two business fronts.

The Ambipar Environment segment concentrates activities related to circular economy, waste recovery and management, decarbonization, compliance and ESG software solutions, as well as specialized logistics. Operations include recovery, co-processing and collection of industrial and urban waste, recycling and reuse of post-consumer and post-industrial waste, reverse manufacturing, water and effluent treatment, decontamination, and final disposal. The company operates in an integrated way across the total waste management chain, focusing on reducing, reusing, and recycling materials to achieve “zero landfill” targets, reducing carbon dioxide emissions and, in some cases, generating carbon credits. Within this segment, the Circular Economy business unit is predominant, accounting for about 89% of Environment’s gross revenue in 2024. The other units — Decarbonization, Compliance, Software and Consulting, and Logistics — complement the offering with services for origination and trading of carbon credits, ESG consulting and auditing, development of social-environmental management software, and logistics solutions for hazardous materials.

The Decarbonization segment, within Environment, offers services aimed at mitigating, reducing, and offsetting greenhouse gas emissions through the voluntary carbon credit market. Credit generation occurs through different avenues, such as waste processing with substitution of raw materials, recycling, energy matrix changes in co-processing plants, and Nature-Based Solutions projects. Among these projects, Ambipar operates initiatives related to REDD+ for reducing emissions from deforestation and forest degradation, reforestation, sustainable agricultural management, and legal reserve offsetting on rural properties with environmental deficits. The Compliance, Software and Consulting unit provides ESG consulting services, auditing and regulatory compliance, as well as integrated software for monitoring environmental, labor and occupational health indicators. This unit is supported by recurring contracts, with more than 1,400 active monthly contracts in 2024 and an average ticket in corporate governance consulting of around R$ 51,900.

The Logistics unit within Environment connects supply chains of hazardous materials in Latin America, working in transport, storage, handling, and disposal in compliance with strict safety standards and environmental regulations. The company developed the “sustainable corridor” concept, with a fleet powered by renewable energy sources, reducing greenhouse gas emissions in its logistics operations. This front is supported by a research, development and innovation center that creates technologies and processes to treat waste at the generation site, converting it into reusable raw material in clients’ industrial production chains. As examples of products originating from R&D&I, the company developed Ecosolo, an organic fertilizer produced from waste composting, and Ecobase, cement-based artifacts and sub-base for paving, both registered and patented. At all stages of waste management, Ambipar uses digital traceability technologies, enabling real-time monitoring from generation through recovery or final disposal.

The Ambipar Response segment is dedicated to the prevention, management, and response to environmental emergencies involving hazardous and non-hazardous products in different transport modes and industrial facilities. Operations cover highways, railways, airports, ports, port terminals, industries, mining companies, pipelines, and natural disaster situations. To this end, the company maintains a network composed of an Emergency Control and Management Center (CECOE) and about 469 service bases strategically distributed across South America, Central America, North America, Europe, Africa, and Antarctica. Services are contracted mainly in two formats: subscription contracts, with 24/7 on-call service, and one-off (spot) call-outs, which follow differentiated price tables according to client profile and type of incident. The operation is supported by standardized service protocols, which include scenario assessment, mobilization of additional resources, continuous communication with the client, preparation of technical reports, and invoicing based on the variables of the emergency.

Ambipar maintains a diversified client base, including local companies, global corporations and multinationals in sectors such as chemicals, agriculture, paper and pulp, mining, oil and gas, logistics, energy, steel and metallurgy, cement, pharmaceuticals, cosmetics, food and beverages. Long-term contracts, with average terms of about five years in Environment and three years in Response, contribute to revenue stability and dilution of concentration risks, with no individual client accounting for more than 10% of net revenue in 2024. Gross revenue is geographically diversified, with approximately 63.1% coming from clients based in Brazil and 36.9% from clients abroad, reflecting the company’s expansion that, from 2020 onward, went from presence in 14 to 41 countries, with relevant operations in Brazil, Latin America, Europe, and North America.

Ambipar’s operations are strongly conditioned by environmental, sanitary, and transport regulatory frameworks, both in Brazil and abroad. In Brazil, activities related to treatment, transport, storage, and disposal of solid waste are governed by regulations such as the National Solid Waste Policy, CONAMA resolutions and ABNT technical standards, which establish criteria for waste classification, procedures for storage of hazardous materials, and requirements for health and environmental protection. Activities involving the transport of hazardous products comply with specific regulations, including those of ANTT. In foreign markets such as Chile, the company is subject to decrees dealing with the transport of hazardous materials, safety conditions for storing hazardous substances, and sanitary waste management, in addition to specific certifications such as accreditation as an Oil Spill Responder company by the Chilean Armed Forces. In the field of corporate sustainability, Ambipar has been part of the B3 Corporate Sustainability Index (ISE B3) since 2021, featuring in the 2023/2024 portfolio among the best-rated companies, and was the first company to join the UN Global Compact’s Ambition 2030 movement, demonstrating the incorporation of environmental, social, and governance (ESG) criteria into its business strategy. AMBP3 shares remain listed on B3’s Novo Mercado, reflecting a corporate structure guided by advanced corporate governance practices.