Metalfrio S A : 2Q21 Earnings Release Presentation

2Q21 and 1H21 Results

August 19th, 2021

Legal Notice

In this presentation we make statements about future events (forward-looking statements) that are subject to risks and uncertainties. These statements are based on beliefs and suppositions of our Management and information to which the company currently has access. Statements about future events include information about our present intentions, beliefs or expectations, and those of the members of the company's Board of Directors, and Executive Officers. Reservations in relation to statements and information about the future also include information about possible or presumed operational results, and also statements that are preceded or followed by or which include the words "believe", "may", "will", "continue", "expect", "forecast", "intend", "plan", "estimate", or similar expressions. Statements and information about the future are not guarantees of performance. They involve risk, uncertainties and suppositions because they refer to future events, and thus depend on circumstances which may or may not occur. Future results and the creation of value for stockholders may differ significantly from those expressed or suggested by forward-looking statements. Many of the factors that will determine these results and amounts are beyond Metalfrio Solutions' capacity to control or forecast.

Information on performance that is not directly derived from financial statements, such as, for example, information about the market, quantities produced and sold, production capacity, or calculation of adjustments on our results were not subject of audit by our external auditors.

Technology - based Cold Solutions Provider to Global Consumer Brands

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2Q21 Highlights

Million Reais	2Q21	2Q20	% Var	1H21	1H20	% var.
Revenues	604,3	333,1	81,4	1.072,4	717,7	49,4
Gross Profit	100,9	56,9	77,3	170,4	131,8	29,2
Operational Profit	50,1	13,7	266,4	75,5	44,6	69,3
Adjusted EBITDA	67,2	36,5	84,1	109,5	81,0	35,1
Net Profit	20,7	(12,6)	nm	24,6	(120,0)	nm

• Revenues increased by 81% in 2Q21 to R$604 million and 49% in 1H21 to R$1,072 million benefiting from the diversified customer base developed during the pandemic and the initial recovery in some geographies.
• Revenues from Services increased 15% to R$74.1 million for 2Q21, compared to R$64.4 million in 2Q20
• In 2Q21 EBITDA was R$66.7million in 2Q21 and R$108.2 million in 1H21, an increase of 142% and 50% respectively whilst the LTM EBITDA level was R$166.9 million (LTM Adjusted EBITDA was R$179.8 million)
• Net Profit of R$20.7 million in 2Q21, improved from Net Loss of R$12.6 million in 2Q20, owing to both improvement in Operational and Financial Performances. Net Profit of R$24.6 million in 1H21 vs Net Loss of

R$120.0 million in 1H20 also as a result of better Operational and Financial results.

Technology - based Cold Solutions Provider to Global Consumer Brands

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COVID-19 Impact

• Revenues

•	Continuous	momentum with	Revenues YoY
	demand exceeding pre-covid
	levels
 Material Costs
•	Impacted	by	commodities
	suppercycle
•	Material shortage requesting
	extraordinary costs
•	Freight constrains

Technology - based Cold Solutions Provider to Global Consumer Brands

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Net Revenue

416.7	274.0	376.7	253.2	606.1	362.0
34.4%	35.3%	33.8%
52.3%	1H19		51%52.5%	1H2039%	56.5%	1H21
	13.3%			11%12.2%		9.7%
	105.5			87.8		104.4
		South America	Central & North America	EMEA

							229
					109	17
	21	18	40
							1.072
796				718
1H19	South america	Central and North	EMEA	1H20	South america	Central and North	EMEA	1H21
		America				America

Values in R$ MM

Technology - based Cold Solutions Provider to Global Consumer Brands

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