Overview

• The board approved R$4.7 billion in 2026 investments, down 21.6% versus 2025, allocating R$2.9 billion to maintenance and R$1.8 billion to competitiveness.
• Growth spending centers on expanding the Midlothian, Texas mill, a new recycling center in Pindamonhangaba, and mining at Miguel Burnier, with Midlothian adding about 150,000 tonnes a year from 2026.
• Gerdau suspended R$2.1 billion of previously planned projects in Brazil, citing weak domestic prospects and pressure from subsidized Chinese imports.
• The company plans to make roughly 2 million tonnes of iron ore available to the market starting in 2026, leveraging its Miguel Burnier resources.
• Strategic project outlays were cut to R$5.2 billion through 2027 and potential annual EBITDA was lowered to R$1.5 billion, as executives highlight U.S. opportunities under President Donald Trump’s steel tariffs.