Wetzel Balance Sheet

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

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 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
Cash & Equivalents	0.09	0.53	0.3	1.25	0.72	1.36
Trading Asset Securities	3.79	17.73	-	-	-	-
Cash & Short-Term Investments	3.87	18.25	0.3	1.25	0.72	1.36
Cash Growth	603.09%	5924.42%	-75.78%	73.27%	-46.79%	-66.01%
Accounts Receivable	48.07	39.37	33.09	32.47	23.49	20.83
Other Receivables	31.09	35.49	49.85	44.59	28.71	1.35
Receivables	79.16	74.86	82.95	77.06	52.2	22.18
Inventory	36.1	34.34	33.25	32.46	29.55	20.29
Prepaid Expenses	5.86	10.59	0.1	0.1	0.06	0.08
Other Current Assets	1.6	0.7	0.69	0.9	0.39	0.43
Total Current Assets	126.6	138.74	117.29	111.77	82.93	44.33
Property, Plant & Equipment	118.41	130.02	71.04	64.97	59.51	52.73
Long-Term Investments	-	-	-	-	-	0.81
Other Intangible Assets	0.19	0.18	0.12	0.17	0.15	0.11
Long-Term Deferred Tax Assets	27.17	14.1	33.18	17.85	5.76	15.11
Other Long-Term Assets	47.69	69.2	78.1	72.98	75.43	70.71
Total Assets	320.07	352.23	299.74	267.74	223.86	183.88
Accounts Payable	28.03	36.75	22.21	26.5	22.38	13.98
Accrued Expenses	45.57	54.82	42.85	37.66	31.69	54.04
Short-Term Debt	7.31	9.74	6.37	-	-	-
Current Portion of Long-Term Debt	58.85	47.19	35.7	34.22	29.69	15.63
Current Portion of Leases	1.78	2.12	1.59	2.88	2.43	2.5
Current Income Taxes Payable	0.62	1.95	1.05	1.14	0.78	31.58
Other Current Liabilities	5.06	4.56	6.32	4.06	4.57	3.69
Total Current Liabilities	147.22	157.13	116.09	106.46	91.55	121.41
Long-Term Debt	39.15	22.69	34.85	20.15	23.46	28.09
Long-Term Leases	1.56	2.68	1.65	1.42	0.62	0.24
Long-Term Deferred Tax Liabilities	29.9	28.05	40.79	39.16	39.31	37.48
Other Long-Term Liabilities	93.84	115.49	112.16	110.34	118.6	181.69
Total Liabilities	311.65	326.04	305.53	277.52	273.53	368.91
Common Stock	47.15	47.15	47.15	47.15	47.15	47.15
Retained Earnings	-47.26	-29.6	-81.58	-84.08	-114.11	-249.55
Comprehensive Income & Other	8.52	8.65	28.64	28.73	18.85	18.95
Total Common Equity	8.42	26.19	-5.79	-8.2	-48.11	-183.46
Minority Interest	-	-	-	-1.58	-1.57	-1.57
Shareholders' Equity	8.42	26.19	-5.79	-9.78	-49.68	-185.03
Total Liabilities & Equity	320.07	352.23	299.74	267.74	223.86	183.88
Total Debt	108.64	84.42	80.16	58.67	56.2	46.46
Net Cash (Debt)	-104.76	-66.17	-79.86	-57.42	-55.48	-45.1
Net Cash Per Share	-50.90	-32.15	-38.80	-27.90	-26.96	-21.91
Filing Date Shares Outstanding	2.06	2.06	2.06	2.06	2.06	2.06
Total Common Shares Outstanding	2.06	2.06	2.06	2.06	2.06	2.06
Working Capital	-20.62	-18.39	1.2	5.31	-8.62	-77.08
Book Value Per Share	4.09	12.73	-2.81	-3.99	-23.38	-89.14
Tangible Book Value	8.22	26.01	-5.92	-8.38	-48.26	-183.57
Tangible Book Value Per Share	4.00	12.64	-2.87	-4.07	-23.45	-89.20
Land	-	-	8.92	-	-	-
Buildings	0.25	0.25	12.41	-	-	-
Machinery	172.18	184.81	126.07	-	-	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.