SIMH3

Simpar S.A., traded on B3 under the ticker SIMH3, is a holding company whose origins lie in the Julio Simões Group, founded in 1956. Formally incorporated in 2005 under the name Julio Simões Participações S.A., the company was created as the Simões family’s investment holding, then the direct controller of JSL S.A. In August 2020, after a corporate restructuring that involved the merger of all JSL shares and the partial spin-off of JSL with its incorporation by Simpar, the holding company assumed the role of the group’s publicly traded company, replacing JSL in this position. Following this reorganization, JSL became focused on operational logistics activities, also listed on B3’s Novo Mercado, while Simpar consolidated itself as the vehicle for control and coordination of the conglomerate’s various businesses.

Simpar operates as a holding company that controls and manages a portfolio of independent companies positioned mainly in the logistics, mobility, automotive services, infrastructure and environmental services sectors. The group’s strategy is based on active capital management and the strategic steering of its subsidiaries, with a focus on financial discipline and return on investment. Simpar serves as the decision center for capital allocation, goal setting, performance monitoring and development of new businesses, without direct involvement in end-service operations. SIMH3 shares, listed on B3, reflect the consolidated performance of this set of companies, which spans from road cargo logistics to light and heavy vehicle rental, vehicle sales, infrastructure concessions, environmental services and financial activities.

Simpar’s portfolio is composed of eight main businesses: JSL, Movida, Vamos, Automob, CS Infra, Ciclus Ambiental, CS Brasil and Banco BBC, as well as smaller entities and offshore vehicles focused on raising funds. In 2024, the company reported consolidated net revenue of approximately R$ 41.1 billion, distributed among segments such as logistics (JSL), light vehicle rental (Movida), long-term truck, machinery and equipment rental (Vamos), and dealership network (Automob), among others. JSL provides services in road cargo transportation, dedicated logistics, urban distribution, warehousing and passenger chartering, serving 16 sectors of the economy with more than 600 recurring clients. Movida operates in light vehicle rental through the rent a car (RAC) and fleet management and outsourcing (GTF) segments, with a fleet of more than 260 thousand vehicles and a store network in every Brazilian state. Vamos focuses on long-term rental of trucks, machinery and equipment, with a strong presence in agribusiness and industrial sectors, complemented by maintenance services and decommissioning of used assets.

Automob, also controlled by Simpar, operates as a large dealership group for light and heavy vehicles, machinery and equipment, conducting sales of new and used vehicles, parts, maintenance services, bodywork, painting, armored vehicle services, and brokerage of financing and insurance. In December 2024, Automob operated 132 light-vehicle dealerships, 60 heavy-vehicle dealerships and 40 machinery and equipment dealerships, distributed across Brazil’s five regions, representing a broad portfolio of domestic and foreign brands. Other subsidiaries strengthen the group’s diversification: CS Infra manages infrastructure concessions such as ports, highways, urban passenger transport under the BRT model and on-street parking; CS Brasil provides fleet management and outsourcing services to the public sector, municipal passenger transport and urban cleaning; Ciclus Ambiental operates in environmental services, including sanitary landfill operations, waste recovery, biogas and energy generation and commercialization, as well as carbon credits; and Banco BBC offers financing, leasing, direct consumer credit, digital accounts and other financial services geared to the group’s ecosystem.

From a revenue generation standpoint, in 2024 Movida accounted for about 33% of Simpar’s consolidated net revenue, followed by Automob with approximately 30%, JSL with 22%, and Vamos with 11%. The remaining businesses, including CS Infra, CS Brasil, Ciclus Ambiental and Banco BBC, contributed smaller, though still relevant, shares within the portfolio and in terms of sector risk diversification. In terms of operating income before financial income and expenses and taxes, Movida and Vamos had significant contributions, with approximately 39% and 38% of the total, respectively, while JSL and Automob rounded out consolidated returns. This distribution highlights the diversified nature of the conglomerate and the combined importance of light-vehicle rental, heavy-asset rental, integrated logistics and automotive retail within Simpar’s structure.

The group controlled by Simpar has broad geographic reach, with extensive coverage across Brazil and international logistics operations. JSL maintains more than 350 branches located in every Brazilian state and operational bases in eight countries besides Brazil: Chile, Argentina, Uruguay, Bolivia, Paraguay, South Africa, Ghana and Peru, providing road cargo transportation, dedicated logistics, urban distribution and warehousing. Movida is present in all Brazilian states, with 259 vehicle rental locations, many of them in airports, as well as 89 used-car sales outlets. Vamos has a nationwide service network supported by around 6,000 authorized repair shops, in addition to its own locations for decommissioning used assets under the Vamos Seminovos brand and an extensive network of commercial partners. Automob, in turn, operates a dealership network across the country’s five regions, covering several state capitals and major economic hubs.

The activities of Simpar’s subsidiaries are conducted in environments with varying degrees of government regulation. JSL, CS Brasil and CS Infra operate in transportation and infrastructure segments subject to oversight by bodies such as the Ministry of Transport, the Ministry of Ports and Airports, the National Land Transport Agency (ANTT) and the National Waterway Transport Agency (ANTAQ), in addition to state and municipal regulatory frameworks. Road cargo transportation, for example, requires registration with the National Registry of Road Cargo Carriers (RNTRC) with ANTT and follows specific rules for contracting independent truckers and transportation companies, as well as oversight and safety regulations enforced by the Federal Highway Police and traffic authorities coordinated by the National Traffic Council (CONTRAN). In the financial sphere, Banco BBC operates under the regulatory framework of the Brazilian banking system, with prudential and supervisory requirements typical of the sector. Ciclus Ambiental’s environmental activities are subject to licensing and oversight by environmental agencies, given the nature of waste treatment and disposal, biogas generation and carbon credit activities.

From the standpoint of environmental, social and governance (ESG) practices, several Simpar subsidiaries have shares listed on B3’s Novo Mercado and are part of the Corporate Sustainability Index (ISE), such as JSL, Movida and Vamos, which implies additional commitments in governance, transparency and social-environmental responsibility. Ciclus Ambiental, focused on waste management, energy recovery through biogas and commercialization of carbon credits, represents a direct vector of action in the circular economy and emissions mitigation. Simpar’s holding structure seeks to maintain a standardized management model, with clear targets for each business, a shared culture and aligned governance practices among the group’s companies. The combination of infrastructure, logistics, mobility, environmental services and financial businesses, all under Simpar’s centralized coordination, means that SIMH3 shares offer exposure to a diversified portfolio of sectors in Brazil’s real economy, with different cycles and regulatory and operational risk profiles.