COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP Chief People Officer Josue Bressane Junior exercised 7,371 Restricted Stock Units into Common Shares. To cover tax obligations, 2,027 shares were delivered at $6.69 per share, leaving 5,344 Common Shares held directly. The transactions relate to a 29,486-unit RSU grant from April 29, 2025, of which 7,371 units vested on May 1, 2026 and 22,113 RSUs remain outstanding.
COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP Corporate Services Officer Gustavo Do Valle Fehlberg reported routine equity compensation activity involving restricted stock units and related tax withholding.
On May 1, 2026, 7,371 restricted stock units were exercised into 7,371 Common Shares at a conversion price of $0.00 per share. To cover tax obligations, 2,027 Common Shares were disposed of at $6.69 per share, a tax-withholding disposition rather than an open‑market sale. Following these transactions, he directly holds 5,344 Common Shares. The RSUs stem from a prior grant of 29,486 units on April 29, 2025, vesting in four equal annual installments, and 22,113 restricted stock units remain outstanding after this vesting event.
COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP Customer & Technology Officer Maciel Maia Denis reported routine equity compensation activity. He exercised 10,181 Restricted Stock Units into Common Shares and, in a related step, 2,800 Common Shares were disposed of to satisfy tax obligations at a price of $6.69 per share. After these transactions, he directly holds 7,381 Common Shares and 30,533 remaining Restricted Stock Units from a 40,715-unit grant awarded on April 29, 2025, which vests in four equal annual installments.
COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP operations and maintenance officer Debora Pierini Longo exercised 8,243 restricted stock units into Common Shares on May 1, 2026. To cover tax obligations, 2,267 Common Shares were withheld at $6.69 per share. After these transactions, she directly holds 5,976 Common Shares and 24,729 restricted stock units from a 32,965-unit grant awarded on April 29, 2025, which vests in equal portions on May 1 of 2026, 2027, 2028 and 2029.
COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP Chief Financial Officer Daniel Szlak reported routine equity compensation activity. On May 1, 2026, 10,181 restricted stock units vested and were converted into 10,181 Common Shares through a derivative exercise.
To cover tax obligations, 2,800 Common Shares valued at $6.69 per share were delivered back in a tax-withholding disposition, leaving Szlak with 7,381 Common Shares held directly after these transactions. The derivative position reflects a broader grant of 40,715 restricted stock units awarded on April 29, 2025, vesting in four equal annual installments through May 1, 2029.
COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP CEO Leone Piani Carlos Augusto reported equity compensation activity involving Common Shares and Restricted Stock Units (RSUs). He exercised derivative awards covering 50,295 RSUs into 50,295 Common Shares and, in a related move, 13,831 Common Shares were disposed of as a tax-withholding payment at $6.69 per share. After these transactions, his directly held Common Shares increased to 64,703, and an additional 14,408 Common Shares are reported as indirectly owned through his spouse. A prior grant of 1,005,951 RSUs vests in tranches from May 1, 2026 through May 1, 2033, each RSU representing the right to receive one Common Share upon vesting.
Companhia de Saneamento Básico do Estado de São Paulo – Sabesp reported strong 1Q26 results, with consolidated net revenue of R$9,965 mn, up 18.3% from 1Q25. Net income reached R$1,749 mn, an 18.0% increase, while basic EPS was R$0.50 versus R$0.43 a year earlier.
On an adjusted basis, net sanitation revenue was R$6,021 mn, up 10.9% year-over-year, supported by higher tariffs, better collections, and new connections. Adjusted EBITDA rose 25.9% to R$3,786 mn and adjusted net income grew 32.2% to R$1,554 mn, reflecting OPEX savings of R$188 mn, notably lower personnel and power costs.
Sabesp accelerated investments, with 1Q26 CapEx of R$3,728 mn, 30.8% higher than 1Q25, mainly in water and sewage projects tied to universalization targets. The company also consolidated control of energy company EMAE, recognizing provisional goodwill of R$504.9 mn and adding an energy generation and commercialization platform to its operations.
Sabesp reported solid first-quarter 2026 results, with adjusted earnings per share of R$0.44, up from R$0.34 a year earlier. Adjusted EBITDA rose 26% to R$3.8 billion and adjusted net income increased 32% to R$1.6 billion, helped by tariff gains, new connections and efficiency measures.
Adjusted net sanitation revenue grew 10.9% to R$6,021 million, while operating expenses fell 7.7%, driven by personnel savings from a 13% average headcount reduction and lower power costs after migrating most consumption to the free market. CapEx jumped 30.8% to R$3,728 million, focused on water and sewage expansion to meet universalization targets, even as a temporary SAP billing cutover slightly reduced reported volumes.
Companhia de Saneamento Básico do Estado de São Paulo – Sabesp filed its 2025 Form 20-F annual report for the year ended December 31, 2025 with the U.S. Securities and Exchange Commission. The filing includes the company’s complete audited financial statements.
The Form 20-F is available on both the SEC’s website and Sabesp’s investor relations website. Sabesp will also provide hard copies of its audited financial statements free of charge to any security holder who requests them by email.
Companhia de Saneamento Básico do Estado de São Paulo – SABESP files its 2025 Form 20-F, highlighting a transformative year marked by privatization and a new regional concession model.
The State of São Paulo completed SABESP’s privatization in July 2024 via a secondary offering of 220,470,000 common shares, cutting its stake from 50.26% to 18.00%. A golden-share preferred share grants the State veto rights over the company’s name, headquarters, corporate purpose and certain voting limits.
The URAE-1 Concession Agreement now governs 371 municipalities and advances universalization targets to 99% water and 90% sewage coverage by December 31, 2029, including rural and informal areas. SABESP estimates a R$70 billion capital expenditure program for 2024–2029 and invested R$15.2 billion in 2025.
The report details sizeable risk factors: exposure to Brazilian macroeconomic volatility, a Selic rate that peaked at 15.00% in 2025, foreign-currency debt of R$10.6 billion, legal proceedings totaling R$18.2 billion (with R$1.9 billion provisioned), regulatory uncertainty around tax and sanitation reforms, tariff and concession risks under URAE-1 (including Factor U and potential early termination), and sizable receivables from the State of São Paulo.
Cybersecurity and data protection remain key themes, with a 2024 cyberattack resolved without identified material harm but continued LGPD exposure. Management also reports material weaknesses in IT-related internal controls over financial reporting as of December 31, 2025, though no misstatements were identified, underscoring remediation as a priority.