| Schedule of Deferred Taxes |
Breakdown of deferred taxes | | | | | | | | | | | | | | | | | | | | | | Description | | December 31,
2024 | | Profit or loss | | December 31,
2025 | | | | | | | | | Deferred liabilities | | | | | | | | Breakage | | (294,419) | | | (31,787) | | | (326,206) | | | Foreign currency exchange | | (537,910) | | | (3,887,189) | | | (4,425,099) | | | Leases | | (3,866,152) | | | 423,644 | | | (3,442,508) | | | Others | | (2,013) | | | 345 | | | (1,668) | | Total | | (4,700,494) | | | (3,494,987) | | | (8,195,481) | | | | | | | | | | Deferred assets | | | | | | | | | | | | | | | Financial instruments | | 22,228 | | | (22,228) | | | — | | | Foreign currency exchange | | 587,864 | | | 2,694,527 | | | 3,282,391 | | | Leases | | 5,853,368 | | | (1,531,606) | | | 4,321,762 | | | Temporary provisions | | 1,767,016 | | | (827,682) | | | 939,334 | | | Tax loss carryforwards and negative social contribution base | | 7,194,433 | | | 1,593,517 | | | 8,787,950 | | | Others | | 2,192 | | | 399,912 | | | 402,104 | | | | 15,427,101 | | | 2,306,440 | | | 17,733,541 | | | Deferred tax asset reducer | | (10,726,607) | | | 1,188,547 | | | (9,538,060) | | | Total | | 4,700,494 | | | 3,494,987 | | | 8,195,481 | | | | | | | | | Total income tax and deferred social contribution | | — | | | — | | | — | |
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| Schedule of Reconciliation of the Effective Income Tax Rate |
Reconciliation of the effective income tax rate | | | | | | | | | | | | | | | | | | | | | | | December 31, | | Description | | 2025 | | 2024 | | 2023 | | | | | | | | | Loss before income tax and social contribution | | 124,870 | | | (9,190,174) | | | (2,340,930) | | | Combined nominal tax rate | | 34 | % | | 34 | % | | 34 | % | | Taxes calculated at nominal rates | | (42,456) | | | 3,124,659 | | | 795,916 | | | | | | | | | | Adjustments to determine the effective rate | | | | | | | Deferred tax (a) | | (321,780) | | | (2,857,978) | | | (890,067) | | | Non‑taxable effect of the fair value measurement of convertible instruments (b) | | 342,225 | | | 148,592 | | | (8,584) | | | Permanent differences (non‑deductible) (c) | | 22,009 | | | (395,579) | | | 43,764 | | Others (d) | | (10) | | | 19,109 | | | 19,445 | | | | (12) | | | 38,803 | | | (39,526) | | | | | | | | | | Current income tax and social contribution | | (12) | | | (723) | | | — | | | Deferred income tax and social contribution | | — | | | 39,526 | | | (39,526) | | | | (12) | | | 38,803 | | | (39,526) | | | | | | | | | | Effective rate | | — | | | 0.4 | % | | (1.7) | % |
(a)In 2024, such balances refer to the line “Unrecorded benefit on tax losses and temporary differences”. (b)In 2024, such balances refer to the line “Mark to market of convertible debt instruments”. (c)In 2024, such balances refer to the line “Permanent differences”. (d)In 2024, such balances refer to the line "Rate differential" and "Others".
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| Schedule of Deferred Income Tax and Social Contribution Assets |
The Company has tax losses that are available indefinitely for offset against 30% of future taxable profits on which deferred income tax and social contribution assets have not been created, as it is not likely that future taxable profits will be available for the Company to use them, as below: | | | | | | | | | | | | | | | | | | | | | | | December 31, | | Description | | 2025 | | 2024 | | 2023 | | | | | | | | | Tax loss and negative bases | | 25,846,911 | | | 21,160,095 | | | 18,325,916 | | | | | | | | | | | December 31, | | | 2025 | | 2024 | | 2023 | | Tax loss (25%) | | 6,461,728 | | | 5,290,024 | | | 4,581,479 | | | Negative social contribution base (9%) | | 2,326,222 | | | 1,904,409 | | | 1,649,332 | | | Total | | 8,787,950 | | | 7,194,433 | | | 6,230,811 | |
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