FRBH reports 2026 first quarter results

01 Jun 2026 02:55 CEST

Highlights for the Consolidated Financials for the Quarter Ended March, 31, 2026

- Production averaged 3,972 BOE per operating days of Oil Products and 180
tonnes per
day of Sulfur; Processing of shale ore averaged 233 tonnes per hour and a total
of 25,4k
tonnes of oil sludge was processed. An additional 540 BOE per day was invoiced
as
deferred revenue related to minimum sales contracts

- OCB1 benchmark averaged a 22% premium to Brent resulting in a realized premium
to
Brent for Fuel Oil Sales of 3%.

- Sales volume decreased 10% QoQ with an additional 7,370 tonnes invoiced as
deferred
sales during period; Totaling 39,500 tonnes of oil products (consisting of: Fuel
Oil –
28,707 tonnes; Naphtha – 5,539 tonnes; Gas – 2,402 tonnes – 3,002,019 m3; and
LPG –
2,853 tonnes) and 5,077 tonnes of Sulfur.

- Net revenue decreased 13% QoQ; Totaling BRL 123,846 (USD 23,549).

- Launch of the cost reduction program, which resulted in savings of BRL 9,540
in the first
quarter of 2026 including budgeted and unbudgeted items.

- Adjusted EBITDA totaled BRL 56,081 (USD 10,664).

Agnaldo Peres
CFO

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674983_1Q26 FRBH MD&A.pdf
674983_1Q26 FRBH condensed interim financial statements.pdf