Metalfrio S A : 4Q21 Earnings Release Presentation

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.

4Q21 Highlights

Million Reais	4Q21	4Q20	% Var	FY2021	FY2020	% var.
Revenues	559.1	386.6	44.6	2,046.4	1,445.2	41.6
Gross Profit	123.4	63.8	93.5	350.9	252.2	39.1
Operational Profit	71.1	14.7	382.4	163.4	72.6	124.9
EBITDA	90.0	31.6	184.5	230.2	130.7	76.1
Adjusted EBITDA	90.2	37.0	143.7	232.0	151.3	53.3
Net Profit	(43.1)	17.4	(347.8)	(56.0)	(140.1)	(60.0)

•  Revenues increased by 45% in 4Q21 to R$559 million and 42% in 2021 to R$2,046 million benefiting from the diversified customer base developed during the pandemic and the contribution from all the geographies;

•  Revenues from Services increased 36% to R$76 million for 4Q21, compared to R$56 million in 4Q20;

•  In 4Q21 EBITDA was R$90million and R$230 million in 2021, an increase of 185% and 76% respectively;

•  Net Loss of R$43 million in 4Q21 and R$56 million for full year 2021, compared with net loss of R$140 million for the full 2020 as a result of higher Operational Profit and lower Financial Expenses.

COVID-19 Impact

•  Revenues

  • • Continuous momentum with demand exceeding pre-covid levels

    Revenues YoY

  • • Key Accounts resuming investment program in the latter part of the year

  • • Versatility to adjust sales mix

  • • Service contribution

•  Material Costs

  • • Impacted by commodities super cycle

  • • Material shortage requesting extraordinary costs

  • • Freight constrains

722.8

48.8%

FY19

14.4%

36.8%

545.4

730.4

212.6

50.5%

51%

FY2039%

11%

38.5%

556.6

10.9%

158.2

South America

Central & North America

1,038.9

10.3%

39.0%

50.8%

FY21

210.1

EMEA

308

2,046
1,481	1,445

2,046

797.5

FY19

South america Central and

North AmericaEMEA

FY20

South america Central and

North AmericaEMEA

FY21

Values in R$ MM