Notice to the Market – Conclusion of the long-term financing for Ecovias Noroeste Paulista
ECORODOVIAS INFRAESTRUTURA E LOGÍSTICA S.A. (“Company” or “EcoRodovias”), its direct subsidiary ECORODOVIAS CONCESSÕES E SERVIÇOS S.A. (“ECS”) and its indirect subsidiary CONCESSIONÁRIA DE RODOVIAS NOROESTE PAULISTA S.A. (“Ecovias Noroeste Paulista” or “Concessionaire”), complementing the Notice to the Market released by the Company and ECS on August 13, 2025, hereby inform their shareholders and the market of the conclusion of the long-term financing for Ecovias Noroeste Paulista, structured by the Brazilian Development Bank (“BNDES”) and Banco Santander (Brasil) S.A. (“Santander”), in the amount of R$4.1 billion which will fund the investments of the Concessionaire. The credit facilities comprise the following:
Incentivized debentures: structured by BNDES and Santander, in four (4) series, totaling R$3,955.0 million, with final maturity in December 2047. The full payment and disbursement of the first and second series, amounting to R$2,350.0 million, was on September 3, 2025. The other series will be disbursed according to the Concessionaire’s investment cycle and will be subject to the fulfillment of the respective conditions precedent provided for in the indenture, with deadline for full payment in June 2030. The debentures of the second series of the issue are characterized as “green transition debentures,” totaling R$300.0 million, based on Ecovias Noroeste Paulista’s commitment to allocate the funds to investments related to sustainability criteria.
BNDES Financing: to be disbursed according to the construction schedule, totaling R$178.3 million, with final maturity in December 2047.
As a result, EcoRodovias has taken another important step in financing its investments for the cycle of expansion works over the coming years. The transaction strengthens the Company’s capital structure and ensures that the disbursement schedule is aligned with the execution timeline of the Concessionaire’s works. Additionally, along with the Exchange Offer conducted by ECS, the transaction helps to extend the maturity profile of EcoRodovias’ consolidated debt.
Gross Debt Amortization Schedule of EcoRodovias as of 6/30/2025 (in millions of R$):
Pro Forma Gross Debt Amortization Schedule of EcoRodovias, considering the financing of Ecovias Noroeste Paulista and the Exchange Offer transaction of ECS, as of 6/30/2025 (in millions of R$):
With the conclusion and respective inclusion of the long-term financing for Ecovias Noroeste Paulista, the three main credit facilities already contracted with development banks reached an undisbursed balance of R$11.7 billion as of June 30, 2025. These funds will be allocated to projects that will expand EcoRodovias’ road capacity over the next years, as detailed in the table below:
“The long-term financing structured for Ecovias Noroeste Paulista reinforces the Company’s liability management strategy, which includes more than R$18 billion in structured financing in 2025 alone. With the conclusion of this transaction, 85% of EcoRodovias’ debt maturities are scheduled from 2029 onwards. This structure ensures that the cash flow generated by our assets, combined with already contracted yet undisbursed financing, supports the execution of our investment plan — an essential element for the sustainable growth of our business”, states Andrea Fernandes, Head of Corporate Finance at EcoRodovias.
EcoRodovias reaffirms its commitment to its obligations as a publicly held company listed on the Novo Mercado segment of B3 and will disclose all and any material information in accordance with applicable laws.
São Paulo, September 4, 2025.
Marcello Guidotti
CEO and Investor Relations Officer
EcoRodovias Infraestrutura e Logística S.A.
+55 (11) 3787 2612 / 2674 / 2686
invest@ecorodovias.com.br
ri.ecorodovias.com.br
Hugo Rafael Mitz
Investor Relations Officer
EcoRodovias Concessões e Serviços S.A.
Danyel Machado Nunes
Investor Relations Officer
Concessionária de Rodovias Noroeste Paulista S.A.