We can tell from our past that, since 2015, we have matured significantly. When we started our journey, with the aim of making a difference in Brazil’s infrastructure, we focused on offering our customers a logistics solution that was safe, efficient, competitive and that would help in the journey towards decarbonization in the chains we serve.

While 2023 brought with it many difficulties, Rumo also made great progress. Climate-related occurrences at the start of the year presented challenges to our operations. For example, the severe rains in São Carlos (SP) stopped operations in the area with it directly reflecting in volumes during that period, a direct reflection of the volume during that period. Furthermore, there has been a rise in the number of criminal events in Baixada Santista, which has hindered the smooth operation of trains that were headed for the Port of Santos.

Episodes like these demanded a strong response from our operation, which, with promptness, consistency and a high degree of engagement with the public authorities, reinforced our team’s resilience and coordination capacity. It was a year of grain overcropping in Brazil, especially in the Midwest, which put maximum demands on the logistics system to boost Brazilian exports. In this context, we were even more competitive, moving more than 77 billion RTK, an all-time record for our operation.

We feel proud to have increased the volume moved by 3.1% without compromising the security of our people and assets, which is a non-negotiable priority for Rumo. We had a 27.2% reduction in the railway accident rate, placing Rumo below the average of the Class I railways, benchmarks in safety, upholding our commitment and watchful eye in caring for our operations.

Even with the impacts of circulation throughout the year that affected our energy efficiency and, consequently, our greenhouse gas (GHG) emissions, we managed to reverse the scenario throughout the year and close 2023 with a 0.25% reduction in specific emissions, avoiding the emission of 6.6 million tons of CO2 in the year, had the entire volume been transported by trucks, contributing to the constant evolution of our climate journey.

With investments aimed at expanding our capacity, we have taken rail transportation to an ever-increasing volume of cargo and with greater safety. Highlights include: (i) we completed the construction of the Malha Central, adding greater geographical diversity to the rail network; (ii) we expedited the construction of the Rumo Extension in Mato Grosso, bringing us closer to the heart of agricultural production in the state; (iii) on the Malha Paulista, we obtained a favorable opinion from the TCU on the proposal to update the Obligations Booklet, making it possible to meet the functional obligation in a more efficient and economical manner; (iv) in the Port of Santos, we had the operational transition from Portofer to FIPS, consolidating a new chapter with investments to increase efficiency, productivity and capacity on the railroad accessing the main port terminals.

Thanks to these initiatives, our results grew significantly. Driven by the competitiveness of the rail modal, we reached BRL 5,650 million in EBITDA, a 31% rise on a likefor- like basis. The Company’s consolidated net profit grew by 41% to BRL 722 million.

Our management practices have been recognized by the capital markets, selecting Rumo to be part of the Dow Jones Sustainability™ World Index and Dow Jones Sustainability™ Emerging Markets portfolios, as the first and only Brazilian company in the logistics sector to be part of this select group. In addition, we are part of the ISE portfolio for the third consecutive year, further cementing our progress year after year.

As we reaffirm our commitment to local communities, we have made investments, partnered with local authorities, and relied on business partners’ support because we think that through social actions and public policies, we can create opportunities, high-quality education, and ultimately transform people’s lives.

For their commitment and assistance in creating this journey, we would like to thank all of our employees, investors, customers, suppliers and partners. We remain determined to be providing an efficient transportation mode that boosts Brazilian competitiveness.

Beto Abreu

Rumo’s CEO from April/2019 to March/2024

Pedro Palma

Rumo’s CEO as of April/2024