Schedule of changes in finance debt
	In Brazil	Abroad	Total
Balance at December 31, 2025	8,066	18,375	26,441
Proceeds from finance debt	1,010	921	1,931
Repayment of principal ⁽¹⁾	(735)	(2,372)	(3,107)
Repayment of interest ⁽¹⁾	(470)	(598)	(1,068)
Accrued interest ⁽²⁾	501	576	1,077
Foreign exchange/ inflation indexation charges	65	(80)	(15)
Translation adjustment	517	58	575
Balance at June 30, 2026	8,954	16,880	25,834

	In Brazil	Abroad	Total
Balance at December 31, 2024	5,563	17,599	23,162
Proceeds from finance debt	1,943	1,129	3,072
Repayment of principal ⁽¹⁾	(211)	(1,342)	(1,553)
Repayment of interest ⁽¹⁾	(267)	(590)	(857)
Accrued interest ⁽²⁾	357	586	943
Foreign exchange/ inflation indexation charges	18	(48)	(30)
Translation adjustment	848	206	1,054
Balance at June 30, 2025	8,251	17,540	25,791
(1) Includes pre-payments.
(2) Includes premium and discount over notional amounts, as well as gains and losses by modifications in contractual cash flows.


Maturity in	2026	2027	2028	2029	2030	2031 onwards	Total ⁽¹⁾	Fair Value ⁽⁴⁾

Financing in U.S. Dollars:	872	270	1,609	732	2,079	10,106	15,668	15,559
Floating rate debt ⁽²⁾	609	257	559	180	740	1,452	3,797
Fixed rate debt	263	13	1,050	552	1,339	8,654	11,871
Average interest rate p.a.	6.6%	6.1%	5.7%	6.1%	6.1%	6.6%	6.4%
Financing in Brazilian Reais):	221	203	150	1,061	681	5,834	8,150	7,790
Floating rate debt ⁽³⁾	183	45	43	43	568	5,338	6,220
Fixed rate debt	38	158	107	1,018	113	496	1,930
Average interest rate p.a.	10.3%	10.1%	10.2%	10.2%	10.6%	8.2%	9.7%
Financing in Euro:	−	8	102	25	50	351	536	545
Fixed rate debt	−	8	102	25	50	351	536
Average interest rate p.a.	0.0%	4.6%	4.7%	4.7%	4.7%	4.8%	4.7%
Financing in Pound Sterling:	16	17	−	390	−	547	970	978
Fixed rate debt	16	17	−	390	−	547	970
Average interest rate p.a.	6.2%	6.1%	0.0%	6.1%	0.0%	6.6%	6.3%
Financing in Renminbi:	3	5	5	5	492	−	510	510
Floating rate debt	3	5	5	5	492	−	510
Average interest rate p.a.	3.1%	3.1%	3.1%	3.2%	3.1%	0.0%	3.1%
Total as of June 30, 2026	1,112	503	1,866	2,213	3,302	16,838	25,834	25,382
Average interest rate ⁽⁴⁾	7.6%	7.2%	7.0%	7.2%	7.2%	6.6%	6.8%
(1) The average maturity of outstanding debt as of June 30, 2026 is 11.92 years (11.70 years as of December 31, 2025).
(2) Operations with variable index + fixed spread.
(3) Operations with variable index + fixed spread, if applicable.
(4) On December 31, 2025, the total fair value is US$ 25,907 and the average interest rate p.a. is 6.7%.