Revenue by Segment

Financials in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018	Dec '17 Dec 31, 2017	Dec '16 Dec 31, 2016
North Corridor	1.11B	847.17M	751.31M		570.87M	858.14M
North Corridor Growth	31.42%	12.76%	-		-33.48%	100.40%
South Corridor	1.02B	487.86M	981.99M		322.37M	364.81M
South Corridor Growth	108.64%	-50.32%	-		-11.63%	-0.63%
Santos	152.89M	136.56M	121.97M		23.28M	39.76M
Santos Growth	11.96%	11.96%	-		-41.46%	-
Eliminations	-43.01M	-39.16M	-140.53M		-12.24M	-15.24M
Cabotage	-	-	209.61M		211.14M	214.63M
Cabotage Growth	-	-	-		-1.63%	38.18%
Total	2.24B	1.43B	1.92B		1.12B	1.46B
Total Growth	56.46%	-25.56%	-		-23.71%	55.88%

Source: S&P Global Market Intelligence.