VAMO3

Grupo Vamos, through Vamos Locação de Caminhões, Máquinas e Equipamentos S.A. (VAMOS), is a publicly traded company focused on the rental of heavy vehicles and equipment, with common shares traded on B3 under the ticker VAMO3, in the Novo Mercado segment. The company was incorporated in 2015, initially as JSL Locação de Máquinas e Veículos Pesados Ltda., stemming from JSL Group’s strategy of consolidating in a dedicated entity the rental of machinery, vehicles, and heavy equipment, with or without drivers, in addition to fleet management and maintenance. In 2017, it underwent a significant corporate reorganization, becoming a corporation (sociedade por ações), adopting its current name and merging companies related to truck and machinery dealerships. As of 2018, the company focused its operations on its core rental activity, following a spin-off that separated financial services from the conglomerate. In 2019, it obtained registration as a publicly held company and, in 2021, completed its initial public offering, starting the trading of VAMO3 on B3. Over the following years, it built a track record of acquisitions and mergers of companies related to agricultural machinery, used vehicles, customization of heavy vehicles, and forklift rentals, expanding its operating scale and solution portfolio.

The main activities of Grupo Vamos are centered on the long-term rental of trucks, machinery, and equipment, without operators, with or without maintenance services, offering contracts predominantly with terms of around five years or more. As of December 31, 2024, the company reported a fleet of 51,604 assets, consisting of 40,464 trucks and implements and 11,140 machines and equipment, serving around 1,614 customers across various sectors of the economy. The business model is structured to control the entire investment cycle of the asset: from the purchase from manufacturers, through the rental with bundled maintenance and fleet management services, to resale through its used vehicle store network. The company positions itself as one of the largest buyers of trucks in the country, which helps it negotiate differentiated price and delivery terms with suppliers, enhancing its competitiveness in structuring fleet outsourcing contracts.

Vamos’ operations are organized into operating segments of truck, machinery and equipment rental, and truck industrialization and customization. The rental segment is the company’s economic core, accounting for more than 90% of consolidated net revenue in 2024 and virtually all operating profit. In this segment, the company offers fleet outsourcing contracts with preventive and corrective maintenance management, ensuring the availability of rented assets. The industrialization and customization segment, developed mainly through acquisitions such as BMB Brasil and BMB México and, later, Truckvan, delivers tailor-made solutions for heavy vehicles, adapting trucks and buses to the specific needs of corporate clients and manufacturers. Complementarily, the company operates a used vehicle store network through Vamos Seminovos, responsible for selling decommissioned assets at the end of contracts, consolidating value capture across the entire life cycle of the assets.

Grupo Vamos’ product and service portfolio covers the rental of trucks, buses, road implements, agricultural machinery, yellow-line equipment, forklifts, pallet trucks, and tow tractors, among others. In addition to rentals, the company offers maintenance, fleet management, and after-sales services, supported by a network of more than 6,000 accredited repair shops throughout Brazil. This infrastructure is complemented by proprietary digital systems, such as the Customer Portal, which allows monitoring of the rented fleet, mileage, damage costs, and service scheduling. In 2024, the company also launched the Sempre Novo product, focused on the rental of used assets in good condition, targeting customers that do not require brand-new vehicles. This solution aims to increase fleet occupancy rates, optimize the use of already invested capital, and extend the economic cycle of medium-age trucks and equipment.

Vamos operates in diversified markets, with a relevant presence in agribusiness, industry, energy, logistics, food and beverages, transportation, and services. Its customer base is well diversified, with no material concentration, as no individual customer accounted for more than 10% of net revenue in 2024. The company holds a prominent position in the Brazilian heavy vehicle rental market: according to ABLA data, the truck rental fleet in the country totaled 59.7 thousand heavy vehicles at the end of 2024, while Vamos’ comparable fleet represented approximately 40.5 thousand assets, indicating a relevant share in the segment. In addition, the company has a significant share in truck registrations by rental companies, reinforcing the importance of its purchasing scale with manufacturers. In the used vehicle market, it operates mainly in vehicles four to eight years old, especially five to six years, a niche characterized by high liquidity.

Geographically, Grupo Vamos concentrates its operations within Brazil, with nationwide service capacity supported by its sales force, repair shop network, and used vehicle stores distributed across different states. In 2024, the company had 18 used vehicle stores in nine states and more than 70 partner points of sale, which operate on a consignment model to commercialize decommissioned assets. Expansion in agribusiness was reinforced with the acquisition of agricultural machinery dealerships such as Monarca, a network linked to the Valtra brand in Mato Grosso, and with its appointment as a Fendt dealer in the Sorriso (MT) region, in addition to the opening of a large Fendt dealership in 2022, a milestone in its strategy to expand its presence in the agricultural segment. The acquisition of HM Empilhadeiras, headquartered in Campinas (SP) with units in other states, expanded its operations in the forklift and material handling equipment rental segment, strengthening its footprint in relevant industrial and logistics regions.

From a regulatory standpoint, Vamos’ activities are typically private and do not depend on sector-specific public concessions, but they are subject to licenses and authorizations for the operation of stores and facilities, such as municipal permits, fire department inspection certificates, building safety approvals, and environmental licenses, as required locally. The company is also registered with the National Registry of Road Cargo Carriers (RNTR-C), in the Cargo Transport Company category, which enables it to carry out road freight transport within the parameters of Law No. 11,442/2007. Its operations are also subject to oversight by agencies such as the Federal Highway Police and to national traffic regulations, as well as to applicable privacy and data protection laws, in line with evolving rules on the use of personal data in Brazil.

Corporate governance and environmental and social risk management aspects are reflected in procedures for obtaining and renewing licenses, compliance control at its facilities, and adherence to operational safety standards. As a company listed on B3’s Novo Mercado, Grupo Vamos adopts a share capital structure based on common shares, with transparency and accountability practices consistent with this listing segment. The company also seeks synergies with Grupo Simpar, its controlling shareholder, especially in supplier negotiations, transaction structuring, and sharing of know-how in the Brazilian logistics sector, without prejudice to the dedicated management of its truck, machinery, and equipment rental business. The combination of long-term contracts, a diversified customer base, and structured resale capabilities via its used vehicle network gives its business model characteristics of recurring revenue generation and greater cash flow predictability for the company.