Whirlpool S.A., previously known as Multibrás S.A. Indústria de Aparelhos Domésticos, is a Brazilian company in the white goods home appliance sector, with common and preferred shares traded on B3 under the tickers WHRL3 and WHRL4. Founded in 1957 in São Paulo, the company began operations under the Brastemp brand, which quickly gained relevance in the domestic market, prompting a change of corporate name to Brastemp S.A. Aparelhos Domésticos e Comerciais in 1972. Over the following decades, the company consolidated its growth through strategic acquisitions, such as a significant stake in refrigerator manufacturer Consul S.A. and, as a result, in Empresa Brasileira de Compressores S.A. – Embraco, in addition to acquiring Semer S.A., a producer of mass‑market stoves. In 1994, the company once again adopted the name Multibrás S.A. Eletrodomésticos, merging Consul and Semer and becoming one of the leading home appliance manufacturers in Latin America, before taking on the name Whirlpool S.A. in 2006, aligning itself with the brand of its global parent company Whirlpool Corporation.

Following the acquisition of its controlling stake by Whirlpool Corporation in 1997, Whirlpool S.A. began to play a central role in managing manufacturing and commercialization of white goods products in Latin America. The global parent, with more than 45,000 employees and 55 research and manufacturing centers worldwide, integrates its Brazilian and Latin American operations within a consolidated regional strategy. In Brazil, the company operates with widely recognized brands such as Brastemp, Consul, KitchenAid, Compra Certa and B.blend, engaging in the production, commercialization and distribution of home appliances, as well as offering related services. The company has also taken part in significant corporate moves, such as the sale of Embraco’s operations in 2019 and the formation of the joint venture B.blend Máquinas e Bebidas S.A. in partnership with Ambev in 2015, reflecting a strategy of focusing on its core home appliance business while exploring adjacent businesses through partnerships.

Whirlpool S.A.’s business model is diversified within the home appliance value chain, encompassing industrial and commercial activities, as well as import, export, consignment, leasing and representation of a wide range of household and kitchen consumer goods. Its portfolio includes refrigerators, freezers, refrigerator‑freezers, air conditioners, ice makers, stoves, dishwashers, garbage disposals and compactors, vacuum cleaners, washing machines and dryers, and microwave ovens, in addition to other household and commercial appliances. The company also operates in the production and commercialization of machinery, equipment, tools, components, parts and inputs related to these products, including finished lubricating oil. Complementarily, it provides installation, maintenance, technical assistance, development and project services, as well as digital information services, online advertising, database management and e‑commerce intermediation, in addition to operational support between insurers and retailers and the granting and management of business franchises related to its activities.

Whirlpool S.A.’s commercial operations are strongly anchored in the durable goods retail segment, particularly through large retail chains specializing in home appliances and electronics. In the fiscal year ended December 31, 2024, the groups Casas Bahia and Magazine Luiza each accounted for more than 10% of the company’s net revenue, with amounts exceeding R$ 1.6 billion and R$ 1.8 billion, respectively. This concentration indicates the company’s high exposure to major national retailers as priority distribution channels, reinforcing the importance of these commercial partnerships in generating revenue. In addition to relationships with large‑scale retailers, the company also operates through proprietary channels and other distributors, including digital platforms such as the Compra Certa channel, expanding its presence with end consumers and diversifying its points of sale.

From a geographic standpoint, Whirlpool S.A. maintains a significant industrial presence in Brazil, with three manufacturing units located in Rio Claro, in the state of São Paulo, Manaus, in Amazonas, and Joinville, in Santa Catarina, as well as an administrative center in São Paulo. The company also has 23 Research and Development laboratories in the country, along with global product and technology development teams operating out of Brazil, reinforcing the importance of the Brazilian and Latin American markets within Whirlpool Corporation’s global strategy. In 2024, approximately 91.5% of the company’s net revenue, or R$ 11.828 billion, was attributed to customers in Brazil, while the remainder was distributed mainly among Argentina, the United States, Peru, Mexico, Chile and other countries. Argentina stood out as the main foreign market, accounting for around 7.7% of net revenue in the same period, highlighting the importance of the Southern Cone within its regional commercial strategy.

The company operates in a complex regulatory environment, especially due to the nature of its electrical and electronic home appliances, which are subject to safety, energy efficiency and performance standards. In Brazil, all Whirlpool products sold in the home appliance segment must comply with Inmetro technical and labeling regulations, including specific ordinances for refrigerators, washing machines, gas stoves, air conditioners, microwave ovens, water consumption equipment and blenders with noise requirements. Products without an energy efficiency label, such as electric ovens, electric cooktops, range hoods, clothes dryers, wine coolers, dishwashers and portable appliances in general, are subject to Inmetro Ordinance 148/2022, focused on electrical safety. In addition, all manufacturing units maintain operating licenses issued by the competent environmental agencies and are certified by Bureau Veritas in accordance with NBR ISO 9001:2015, NBR ISO 14001:2018 and ISO 45001:2018, which underscores the need for structured management of quality, the environment, and occupational health and safety.

The Brastemp and Consul brands, owned by Whirlpool S.A., play a central role in the company’s competitive strategy in the Brazilian white goods market. Both were recognized by the Brazilian Patent and Trademark Office (INPI) as well‑known trademarks in 2017, which grants them protection across all classes of products and services, underscoring their relevance and recognition in the country. These brands are widely associated with refrigerators, washing machines, stoves and other appliances, contributing significantly to the company’s positioning in the local home appliance market. The company also licenses the KitchenAid brand, owned by Whirlpool Properties Inc., for use in Brazil, extending its presence in specific kitchen segments. In 2024, as part of the sale of its water business, Whirlpool licensed the use of the Brastemp brand to Culligan Latam Ltda., restricted to the water purifier leasing segment in Brazil for three years, demonstrating the strategic use of intangible assets in complementary businesses.

In the environmental, social and governance (ESG) field, Whirlpool S.A. is encompassed by Whirlpool Corporation’s global policies and goals. Sustainability information is disclosed through a Global Sustainability Report prepared in accordance with GRI (Global Reporting Initiative) standards, also incorporating references to SASB, TCFD and the UN Sustainable Development Goals. The company monitors direct greenhouse gas emissions in Scopes 1 and 2 through specialized platforms, and also assesses Scope 3 emissions, with particular focus on category 11, related to the use of sold products, using proprietary systems such as GEMS and complementary tools for calculating and planning decarbonization scenarios. Operations in Brazil run under the “We Care” system for Environment, Health, Safety and Sustainable Operations, aligned with ISO 14001 and 45001 standards, with commitments focused on protecting people, preserving the environment, promoting sustainable practices and sharing responsibility among employees. Corporate governance also includes global political activity policies that prohibit the use of company resources in political campaigns or party‑political actions, as well as ESG risk and double materiality assessment structures aligned with emerging international regulations, reinforcing Whirlpool S.A.’s adherence to transparency and corporate responsibility standards.

The combination of a robust industrial track record, a portfolio of established brands, a significant presence in Latin America and integration with Whirlpool Corporation’s global strategy positions Whirlpool S.A. as one of the main platforms for home appliance production and development in the region. As an issuer of shares traded on B3 under the tickers WHRL3 and WHRL4, the company offers exposure to a business intensive in industrial assets, innovation in white goods products and management of consumer brands with broad market penetration, operating in a competitive environment marked by strict technical regulation, a strong presence of large retailers and the growing relevance of environmental, social and governance indicators in guiding its activities and strategic decisions.