Financial Statements: ITR/DFP 1Q23

Rumo S.A.

Interim financial statements

March 31, 2023

Contents

Independent auditor's review report on quarterly information	3
Statements of financial position	5
Statements of profit or loss	7
Statements of comprehensive income	8
Statements of changes in equity	9
Statements of cash flows	11
Statements of value added	13
Notes to interim financial statements	14

Independent auditor's review report on quarterly information

To

Shareholders, Board of Directors and Management of

Rumo S.A.

Curitiba - PR

Introduction

We have reviewed the accompanying individual and consolidated interim financial statement, contained in the Quarterly Information Form (ITR) of Rumo S.A. ("Company") for the quarter ended March 31, 2023, comprising the statement of financial position as of March 31, 2023 and the related statement of profit or loss and of comprehensive income (loss), for the three-month period then ended and statements of changes in equity and of cash flows for the three-month period then ended, including the explanatory notes.

Management is responsible for preparation of the individual and consolidated interim financial information in accordance with Accounting Pronouncement NBC TG 21 - Demonstrações Intermediárias, and IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board (IASB), as well as for the fair presentation of this information in conformity with the rules issued by the Brazilian Securities and Exchange Commission (CVM) applicable to the preparation of the Quarterly Information Form (ITR). Our responsibility is to express a conclusion on this interim financial information based on our review.

Scope of review

We conducted our review in accordance with Brazilian and International Standards on Review Engagements (NBC TR 2410 - Revisão de Informações Intermediárias Executada pelo Auditor da Entidade and ISRE 2410 - Review of Interim Financial Information performed by the Independent Auditor of the Entity, respectively). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with auditing standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion on the individual and the consolidated interim financial information

Based on our review, nothing has come to our attention that causes us to believe that the accompanying individual and consolidated interim financial information included in the quarterly information referred to above are not prepared, in all material respects, in accordance with NBC TG 21 and IAS 34 applicable to the preparation of Quarterly Information Form (ITR) and presented consistently with the rules issued by the Brazilian Securities and Exchange Commission.

Other matters

Statements of value added

The abovementioned quarterly information includes the statement individual and consolidated statements of value added (SVA) for the three-month period ended March 31, 2023, prepared under Company's Management responsibility, and presented as supplementary information by IAS 34. These statements have been subject to review procedures performed together with the review of the quarterly information with the objective to conclude whether they are reconciled to the interim financial information and the accounting records, as applicable, and if its format and content are in accordance with the criteria set forth by NBC TG 09 - Demonstração do Valor Adicionado. Based on our review, nothing has come to our attention that causes us to believe that they were not prepared, in all material respects, consistently with the overall interim financial information.

São Paulo, May 04, 2023.

ERNST & YOUNG

Auditores Independentes S/S Ltda.

CRC SP - 034519/O

Leonardo Lucas Heron Rebelo da Silva

Accountant CRC PR - 057007/O

Statements of financial position (In thousands of Brazilian Reais - R$)

		Parent Company	Consolidated
	Note	March 31,	December	March 31,	December
	2023	31, 2022	2023	31, 2022
Assets
Cash and cash equivalents	5.2	1,516,364	2,169,335	5,253,735	7,385,421
Marketable securities	5.3	707,679	88,934	1,957,773	840,061
Trade receivables	5.4	52,072	52,644	596,915	561,641
Derivative financial instruments	5.8	-	-	15,890	17,545
Inventories	5.10	1,299	1,606	214,340	225,813
Receivables from related parties	4.1	166,729	125,978	56,488	49,995
Income tax and social contribution		14,345	-	196,153	195,436
recoverable
Other recoverable taxes	5.9	9,895	21,230	338,410	363,416
Dividends and interest on own capital		921	921	5,292	1,057
receivable
Other assets		35,003	13,570	135,597	114,510
Current		2,504,307	2,474,218	8,770,593	9,754,895
Trade receivables	5.4	-	-	16,437	16,682
Restricted cash	5.3	80	79	107,039	92,770
Income tax and social contribution		168,756	152,857	420,181	309,237
recoverable
Deferred income tax and social contribution	5.14	-	-	1,876,868	1,869,764
Receivables from related parties	4.1	1,003,326	1,003,326	93,066	96,658
Other recoverable taxes	5.9	-	-	757,154	741,367
Judicial deposits	5.15	62,270	61,124	244,789	237,167
Derivative financial instruments	5.8	488,834	384,224	974,960	857,298
Other assets		9,024	1,755	63,435	38,660
Investments in subsidiaries and associates	5.11	18,891,323	18,721,831	375,111	381,469
Investment properties	5.12.1	172,894	174,422	-	-
Property, plant and equipment	5.12.2	161,614	153,295	17,394,827	17,049,188
Intangible assets	5.12.3	261,432	270,748	6,738,742	6,774,306
Right-of-use	5.12.4	46,126	48,103	7,633,579	7,732,284
Non-current		21,265,679	20,971,764	36,696,188	36,196,850
Total assets		23,769,986	23,445,982	45,466,781	45,951,745

The accompanying notes are an integral part of these interim financial statements.

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