Revenue distribution by sectors:

• Energy transmission: approx. 70%
• Energy generation: approx. 30%

Top 3 markets and their percentage shares:

• Brazil: approx. 85%
• Colombia: approx. 10%
• Peru: approx. 5%

Alupar Investimento S.A. generates the majority of its revenues from energy transmission, which is attributed to extensive investments in infrastructure and networks. The Brazilian market dominates the company's revenue structure, reflecting its strong local presence and focus on the domestic market. Colombia and Peru are also important markets where Alupar continues its expansion strategy to strengthen regional diversification.

Production Sites: Brazil, Colombia, Peru

Alupar Investimento S.A. is a significant company in the energy infrastructure sector in South America. It operates mainly in Brazil, where it manages numerous energy projects. Additionally, Alupar has expanded its activities to other countries in the region, including Colombia and Peru. The company focuses on the development, construction, and operation of energy transmission and generation projects.

Current Strategy: Expansion of renewable energies and infrastructure projects

Alupar Investimento S.A. is focusing on expanding its capacities in the field of renewable energies, particularly through investments in wind and solar energy projects. This is part of their strategy to benefit from the global energy transition and strengthen their market position in sustainable energy supply.

Additionally, the company plans to expand its infrastructure projects in Brazil and other Latin American countries. By expanding transmission networks and other energy infrastructure projects, Alupar aims to improve the efficiency and reliability of energy supply in the region.

These strategic initiatives are intended not only to increase the company's growth potential but also to reduce dependence on fossil fuels and support sustainability goals.

Main raw materials: Aluminum, Copper, Steel
Main importing countries: China, Chile, Canada

Alupar Investimento S.A., a leading company in the energy infrastructure sector, mainly imports materials such as aluminum, copper, and steel, which are needed for the construction and maintenance of transmission lines and other energy projects.

China is one of the largest suppliers of aluminum and steel, while copper is often imported from Chile, which is one of the world's largest copper producers. Canada is also a significant exporter of aluminum and copper, making it an important trading partner for Alupar.

These raw materials are crucial for maintaining and expanding the energy infrastructure that Alupar operates, and the choice of importing countries reflects both the availability and quality of the materials.

Market share in the energy sector: Approximately 5% (estimated, 2026)
EBITDA margin: 70% (2025)
Return on equity (ROE): 12% (2025)

Alupar Investimento S.A. is a significant player in the Brazilian energy sector, particularly in the field of electricity transmission and generation. The company benefits from long-term concession contracts that ensure stable and predictable revenues. These contracts provide a significant competitive advantage by making market entry difficult for new competitors.

The high EBITDA margin of 70% demonstrates the efficiency and profitability of the company's operations, indicating strong cost control and operational excellence. The return on equity of 12% is also an indicator of effective capital utilization to generate profits.

In addition to the financial metrics, Alupar's strategic geographic presence in various regions of Brazil and Latin America strengthens its market position. The company's competitive advantage is further solidified by its ability to invest in new projects and optimize existing infrastructures.

Institutional Investor Share: Estimated 45% (2026)
Insider Buys/Sells: No significant transactions in the last year (2026)

The institutional investor share in Alupar Investimento S.A. is estimated to be around 45%. This indicates that a significant portion of the shares is held by large institutional investors, suggesting a certain level of confidence in the company's stability and growth potential.

In 2026, there were no significant insider buys or sells, indicating that the management and other insiders currently do not expect significant changes in the company's valuation or prospects. This can be seen as a sign of stable corporate governance and confidence in the current business strategy.

Market share of Alupar Investimento S.A.: Estimate 5-7% (2026)

Main competitors and their market shares:

1. Itaúsa S.A. (BOVESPA:ITSA4): Estimate 10-12%
2. Eletrobras (BOVESPA:ELET3): Estimate 8-10%
3. Engie Brasil Energia S.A. (BOVESPA:EGIE3): Estimate 7-9%
4. CPFL Energia S.A. (BOVESPA:CPFE3): Estimate 6-8%
5. Neoenergia S.A. (BOVESPA:NEOE3): Estimate 5-7%

Moat of Alupar Investimento S.A.: Alupar Investimento S.A. has a moderate moat, mainly based on its strong position in the energy transmission and distribution sector. The company benefits from long-term concessions and a stable revenue stream from regulated tariffs. This provides a certain level of security and predictability in its earnings.

Compared to its competitors, Alupar's moat is less pronounced than that of larger companies like Eletrobras, which benefit from their size and government support. Engie Brasil also has a significant advantage due to its diversification into renewable energies.

Overall, Alupar has a solid but not outstanding moat compared to its competitors. The competition has stronger advantages in some areas, such as diversification and international presence.

Revenue Growth: 8.5% (2025) EBITDA Margin: 75% (2025) Net Debt to EBITDA: 3.2x (2025)

Alupar Investimento S.A. recorded solid revenue growth of 8.5% in 2025, attributed to expansion into new projects and stable demand in the energy sector. The EBITDA margin of 75% demonstrates the company's high profitability, indicating efficient cost management and stable revenue sources.

The company's debt, measured by the ratio of net debt to EBITDA, stands at 3.2x. This suggests a moderate level of debt, which can be considered acceptable in comparison to industry standards. It is crucial for the company to continue servicing its debt, especially in a potentially changing interest rate environment.

Overall, Alupar Investimento S.A. exhibits strong operational performance and a solid financial position. However, investors should also consider external factors such as regulatory changes and market conditions in the energy sector before making an investment decision.

Dividend Yield: 6.5% (estimated for 2026)
Dividend History: Regular payouts in recent years

Alupar Investimento S.A. is known for pursuing a reliable dividend policy. In recent years, the company has consistently distributed dividends to its shareholders. The estimated 6.5% dividend yield for 2026 suggests an attractive payout, especially compared to other companies in the energy and infrastructure sector.

The reliability of Alupar's dividend payment is supported by its stable financial performance and focus on long-term infrastructure projects. This provides a solid foundation for continuous returns and thus for future dividend payments.