PEAB4

Companhia de Participações Aliança da Bahia is a Brazilian holding company with common and preferred shares 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, carried out on May 14, 1997, when part of the insurer’s assets was transferred to the new holding company. On September 30, 1999, a new partial spin-off of the insurer further strengthened the holding’s equity 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.

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

In the equity interests and insurance segment, the subsidiary ALBA Participação em Seguradoras Ltda. plays a central role. It is a non-operating holding company that concentrates investments in companies supervised by SUSEP, focused 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 group and individual personal accident, group and individual life, homeowners, commercial multiperil, 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, highlighting its relevance to the group’s economic performance.

Aliança da Bahia Patrimonial Ltda. is the main real estate exploration 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 primarily from lease agreements, including atypical built-to-suit contracts, such as the one executed 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 high concentration in long-term lease contracts, especially in Salvador and the surrounding metropolitan area.

In agribusiness, the subsidiary Aliança da Bahia Agropecuária S.A. focuses on beef cattle breeding, covering the stages of breeding, rearing, selection and fattening, as well as purchasing and selling cattle and other species. Operations are conducted under an extensive system on farms in the countryside of the state of Bahia, with pasture management, rotation, nutritional supplementation and the use of inputs such as mineral salt, feed and veterinary medicines. 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 signed for eucalyptus planting in 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 been mainly dedicated to maintenance, expansion and adaptation works for companies within the Aliança da Bahia group itself, functioning as an in-house engineering and technical support structure. Its activities involve specialized labor and consumption of typical construction inputs such as plumbing and electrical materials, binders, coatings and rebar. In terms of financial contribution, the construction segment represented 2.62% of consolidated net revenue in 2024, with a low relative 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 attributed to domestic customers, substantially through equity pickup from subsidiaries and lease and service contracts in Brazilian territory. In the real estate segment, operations are concentrated in Salvador and its metropolitan area, while agribusiness is carried out on several farms in the countryside of Bahia. The group also participates 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), aimed at implementing a mixed-use residential and commercial development.

From a regulatory standpoint, as a listed company with shares traded on B3, the Company is subject to the supervision and rules of the Brazilian Securities Commission (CVM), including requirements on transparency, governance, disclosure of information and conduct in the capital markets. The indirectly controlled Companhia de Seguros Aliança da Bahia is regulated and supervised by SUSEP and the National Council of Private Insurance (CNSP), and must obtain specific authorizations to operate in each insurance line and submit 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 characterizes the group as being simultaneously exposed to the rules of the capital markets, the private insurance sector and Brazilian environmental and urban 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 gradually implementing its strategy in this area. In the same year, it published its first Sustainability Report, prepared based on the GRI 2021 standards and also considering 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 the field, governance and transparency, innovation and customer relations, as well as health, safety and quality of life at work. On the climate front, Alba Seguradora prepared a greenhouse gas emissions inventory, with the neutralization of 35 tons of CO₂, and the Company began the process of inventorying and neutralizing emissions in the 2024–2025 cycle, reinforcing the gradual integration of sustainability criteria into the management of the corporate group.