Companhia de Participações Aliança da Bahia is a Brazilian holding company whose common and preferred shares are traded on B3 under the tickers PEAB3 and PEAB4. Its origin is linked to the partial spin-off of Companhia de Seguros Aliança da Bahia, completed on May 14, 1997, when part of the insurer’s assets were transferred to the new holding company. On September 30, 1999, a new partial spin-off of the insurer further strengthened the holding’s asset base. Over the years, the corporate structure has undergone significant adjustments, such as the dissolution and subsequent extinction of the former subsidiary Companhia Agro Pecuária Barro Vermelho, completed in 2020 after the expropriation of its only rural property by INCRA, and the full divestment of its stake in Hospital Aliança to the Rede D’Or São Luiz group, concluded in stages between 2020 and 2021.

Companhia de Participações Aliança da Bahia’s business model is centered on holding equity interests in other companies as a partner, quota holder or shareholder, and on managing its own assets, including the management of real estate lease contracts. The consolidated financial statements include four wholly owned subsidiaries with distinct but complementary activities: beef cattle ranching, engineering and construction services focused on the group, real estate development and operations, and holdings in insurance companies. The holding company thus operates as a vehicle for strategic coordination, capital allocation and consolidation of results, combining revenue from leasing, insurance, agribusiness and construction.

In the equity interests and insurance segment, subsidiary ALBA Participação em Seguradoras Ltda. plays a key role. It is a non-operating holding company that concentrates investments in companies supervised by SUSEP, focusing on the insurance and reinsurance market. Through ALBA, the Company holds 100% of the capital of Companhia de Seguros Aliança da Bahia, which operates in the life, property and personal insurance segments. The insurer operates in several lines, such as individual and group personal accident, group and individual life, homeowners, comprehensive business, miscellaneous risks, credit life and extended warranty. In 2024, the insurance segment accounted for 31.11% of consolidated net revenue and 69.74% of consolidated net income, underscoring its relevance to the group’s economic performance.

Aliança da Bahia Patrimonial Ltda. is the main real estate development and operations vehicle of Companhia de Participações Aliança da Bahia, focusing on the acquisition, development, management, leasing and sale of its own properties. This subsidiary also operates as an investor in strategic real estate projects, through interests in other companies and specific ventures. Its revenue comes mainly from lease contracts, including atypical built-to-suit arrangements, such as the agreement signed with Hospital Aliança Star, inaugurated in November 2024, in which the hospital properties are owned by the Aliança da Bahia group and leased to the hospital operator. In 2024, the real estate leasing segment accounted for 55.05% of consolidated net revenue, and a single client — Hospital Aliança — represented 46.95% of total net revenue, indicating a high concentration in long-term lease contracts, especially in Salvador and the surrounding metropolitan area.

In agribusiness, subsidiary Aliança da Bahia Agropecuária S.A. focuses on beef cattle production, covering the breeding, rearing, selection and fattening stages, as well as the purchase and sale of cattle and other species. Operations follow an extensive system on farms in the countryside of Bahia, with pasture management, rotation, nutritional supplementation and use of inputs such as mineral salt, feed and veterinary drugs. In 2024, production capacity was expanded with the acquisition of Fazenda Vista Nova, in Itarantim (BA), adding 505 hectares to the group’s rural portfolio and, in addition, a partnership was entered into for eucalyptus planting on rural areas, as a diversification strategy and source of future revenue. The agribusiness segment accounted for 11.22% of consolidated net revenue in 2024, positioning the group in a commodities market that is sensitive to climate and macroeconomic factors.

Aliança da Bahia Engenharia e Serviços Administrativos Ltda. complements the operational structure as a provider of civil construction, urbanization, landscaping, technical engineering installations and real estate development services. Since its inception, this subsidiary has mainly carried out maintenance, expansion and retrofit works for companies within the Aliança da Bahia group itself, acting as the group’s in-house engineering and technical support structure. Its activities involve specialized labor and the consumption of inputs typical of the construction industry, such as plumbing and electrical materials, binders, coatings and rebar. In terms of financial contribution, the construction segment accounted for 2.62% of consolidated net revenue in 2024, with a relatively low weight compared to the other operating segments, but playing an important support role for the group’s other operations.

Geographically, Companhia de Participações Aliança da Bahia concentrates its operations and revenue in Brazil, with no material business abroad. In 2024, 100% of operating revenue was attributable to domestic clients, substantially through equity income from subsidiaries and lease and service contracts within Brazilian territory. In the real estate segment, operations are concentrated in Salvador and the surrounding metropolitan area, while agribusiness is carried out on several farms in the countryside of Bahia. The group also takes part in specific initiatives such as the development of a logistics condominium on the airport site of Presidente Juscelino Kubitschek International Airport in Brasília, through an equity interest, and a real estate project in Itaparica (BA), focused on developing a residential and commercial complex.

From a regulatory standpoint, as a publicly held company with shares traded on B3, the Company is subject to the oversight and rules of the Brazilian Securities and Exchange Commission (CVM), including requirements for transparency, governance, disclosure and conduct in the capital markets. Indirect subsidiary Companhia de Seguros Aliança da Bahia is regulated and supervised by SUSEP and the National Council of Private Insurance (CNSP), requiring specific authorizations to operate in each insurance line and submission of contractual conditions and actuarial technical notes for pricing. The agribusiness and real estate subsidiaries also depend on environmental and urban planning licenses issued by agencies such as INEMA, IBAMA, SEDUR and SEINFRA, among others, to ensure the regularity of their rural and real estate activities. This combined regulatory framework means the group is simultaneously subject to the rules of the capital markets, the private insurance sector and Brazilian environmental and urban planning legislation.

Regarding environmental, social and governance (ESG) practices, Companhia de Participações Aliança da Bahia approved its Sustainability Policy in November 2023 and, in 2024, began the gradual implementation of its strategy in this area. In the same year, it published its first Sustainability Report, prepared based on the GRI 2021 standards and also taking into account the Ten Principles of the UN Global Compact and the Sustainable Development Goals (SDGs). The report included a materiality matrix with topics such as local and people development, ethical practices in rural activities, governance and transparency, innovation and customer relations, as well as health, safety and quality of life at work. On climate matters, Alba Seguradora conducted a greenhouse gas emissions inventory, offsetting 35 tons of CO₂, and the Company began the process of inventorying and offsetting emissions in the 2024–2025 cycle, reinforcing the gradual integration of sustainability criteria into the management of the corporate group.