SÃO PAULO, July 31, 2024 /PRNewswire/ -- 2Q24 Highlights

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of R$ 2.6 billion in the second quarter, down 6.7% compared to 1Q24.

Investments (CAPEX) totaled R$ 1.4 billion in 2Q24, of which R$ 704 million was allocated to Maintenance and R$ 716 million was directed to the Competitiveness of the Business Divisions.

Dividend distribution in the amount of R$ 0.12 per share, equivalent to R$ 252 million, to be paid based on 2Q24 results.

The Company approved a new share buyback program of up to 69.8 million of shares from Gerdau S.A., with a maximum duration of 12 months.

Additional Information

Gerdau S.A. informs that it is filling today its 2Q24 results at the Securities and Exchange Commission (SEC) and at the Comissão de Valores Mobiliários (CVM), which are available at Gerdau's website. To access this document, please click on https://ri.gerdau.com/en/notices-and-results/results-center/.

The 2Q24 Valuation Guide is also available at Gerdau's website.

https://ri.gerdau.com/en/financial-information/valuation-guide/

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SOURCE Gerdau S.A.