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Investor Presentaiton

(d) Adjusted EBITDA - business segments Net revenue from products sold and services rendered Cost of products sold and services rendered Gross profit Operating income (expenses) Selling 2021 Total, Votorantim Nexa Long steel Votorantim Holding and industrial Votorantim Total, Cimentos Resources CBA 22,296 14,140 8,423 (*) 2,119 Energia other Eliminations segments Finanças consolidated 4,010 117 (2,097) (**) (17,084) (10,616) (6,799) (1,516) (3,960) (56) 2,097 (**) 49,008 (37,934) 49,008 (37,934) 5,212 3,524 1,624 603 50 61 11,074 11,074 (700) (132) (42) (21) (6) General and administrative Other operating income (expenses), net (1,243) (757) (338) (45) (117) (329) (901) (2,829) (901) (12) 365 (238) 98 (11) 391 605 (1,578) (1,127) (282) (66) (128) 56 (3,125) (12) (2,841) 605 (3,137) Operating profit (loss) before equity results and finance results 3,634 2,397 1,342 537 (78) 117 7,949 (12) 7,937 Plus: Depreciation, amortization and depletion - continuing operations EBITDA 1,666 5,300 1,385 496 58 5 26 3,782 1,838 595 (73) 143 Plus: 3,637 11,586 (12) 3,637 11,574 Dividends received 181 81 8 (81) 189 189 Exceptional items Impairment of property, plant and equipment and intangible assets 33 2 (71) Net gain on sale of investments 827 (625) 791 791 (625) (625) Gain from the advantageous purchase of an investee Other (243) (243) (243) (24) (46) (169) (239) (239) Adjusted EBITDA 5,247 3,784 1,721 595 8 184 (80) 11,459 (12) 11,447 (*) Relates to long steel operations in Argentina. (**) Relates substantially to the net revenue from electric energy operations from Votener to CBA and VCSA. 196 =
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