April 29, 2025 1Q25 Earnings Release

DISCLAIMER Thisdocument maycontain forward-looking statements. Thesestatements arebasedon estimates andinformation that maybeincorrect orinaccurate andthat maynot occur. These estimates are alsosubjectto risks, uncertainties, andassumptions thatinclude, amongother factors, generaleconomic, political, andcommercial conditions inBrazil andinthe markets where weoperate, aswellasexisting andfuture governmentregulations. Potential investors are cautioned thatthese forward-looking statements donot constitute guarantees offuture performance, giventhatthey involve risks anduncertainties. Gerdaudoes not undertake, and expressly waives, anyobligation to update anyofthese forward-looking statements, which speak onlyasofthedatetheyweremade.

3 HIGHLIGHTS Frequency rate Nº of accidents per million of hours worked by each Gerdau’s employee HOT-ROLLED COIL EXPANSION START-UP In Ouro Branco (MG) Wide range of higher value-added products to meet the domestic market STEEL IMPORTS IN BRAZIL Imports penetration rate reached 22%, +3.7 p.p. vs. 4Q24 reinforcing the inefficiency of the quota-tariff system IRMA CERTIFICATION FOR MIGUEL BURNIER Initiative for Responsible Mining Assurance One of the world’s most rigorous and prestigious sustainability certifications COMMITMENT TO SAFETY 2023 2024 0.59 0.70 1Q25 0.61

4 FINANCIAL PERFORMANCE EARNINGS PER SHARE: R$0.37 Vs. R$0.15 4Q24 NET INCOME: R$758 m LEVERAGE: 0.69x Solid balance sheet with low leverage CAPEX: R$1.4 b ~23% of total Capex estimated for the year already invested SHARE CANCELLATION 24.5 million of GGBR shares (or 86% of repurchased shares) GERDAU S.A.: R$243.5 m DIVIDENDS: METALÚRGICA: R$79.1 m Payment as of May 19, 2025 R$0.12/share R$0.08/share SHARE BUYBACK1 : Growth vs. 4Q24: 14% Gerdau Metalúrgica % executed R$ invested % outstanding shares 44% 100% ~R$444 m ~R$56 m 1.4% 0.6% 1 Considers repurchases made by April 11 , 2025. QoQ and YoY growth, despite the steel oversupply and scenario a challenging macro-environment STEEL SHIPMENTS: 2.9 M ADJUSTED EBITDA: R$2.4 b Upturn of volumes in the North America contributing to resilience of results 6.0 million of GOAU shares (or 100% of repurchased shares)

OUTLOOK* 5 NORTH AMERICA 2Q25: Margins upturn BRAZIL 2Q25: Margins stability Continued discipline in capital allocation through strategic CAPEX and share buyback Resilient volumes, with backlogs above historical levels (>70 days); Higher spread due to better steel prices and stable scrap costs; 2025: US import tariffs may have a positive impact on capacity utilization rate and spreads; Constructive outlook on market conditions, especially demand in the non-residential construction sector; Attention to customer uncertainty due to recent trade measures. Volumes upturn in the domestic market, especially flat steel, with the BQ2 start-up; Price pressure, especially on long steel, due to the fierce competitive scenario; Costs returning to standard levels. 2025: Civil construction and automotive markets with resilient demand in the current economic scenario, with attention to the eventual impacts of high interest rates; Risk of continued increase in imports due to higher tariffs in other markets and inefficiency of the quota-tariff system. * This does not represent guidance.

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Appendices

8 WORKPLACE SAFETY Continued focus on people’s safety Accident Frequency Rate 0.61 in 1Q25 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q25 0.99 1.16 1.28 1.10 1.08 0.87 0.83 0.76 0.70 0.59 0.61 Number of Accidents per Million Hours Worked per each Gerdau Employee //

9 QUARTERLY OVERVIEW Penetration rate of imports reached 22% in 1Q25, up 3.7 p.p from 1Q24; Long steel volume upturn on the domestic market, offsetting the lower volume of flat steel (due to the scheduled shutdown in Ouro Branco); More challenging competitive scenario in the domestic market causing price pressure (especially in rebar and reinforced concrete); Costs impacted by the scheduled shutdown in Ouro Branco for the hot-rolled coil mill start-up. 57% UTILIZATION RATE Rolled steel Crude Steel 73% Shipments (1,000 tonnes) Net Sales (R$ million) EBITDA (R$ million) EBITDA Margin 1Q24 4Q24 1Q25 1,435 1,429 1,431 +0.1% 1Q24 4Q24 1Q25 7,354 7,769 7,494 -3.5% 817 1Q24 4Q24 1Q25 1,376 1,054 -23.4% 11.1% 17.7% 14.1% ~45% Industry, Agriculture and Others ~40% Civil construction ~15% Automotive PRODUCT PORTFOLIO1 MARKETS OF OPERATION1 30% 40% 20% 10% Rebar and Reinforced concrete Bars, Beams, SBQ and Others Hot Coils and Plates Slabs and Others Long Steel 70% Flat Steel 30% BRAZIL 1 The participation values of products and markets are approximate estimates and do not refer to 1Q25 volumes.

10 NORTH AMERICA Shipments (1,000 tonnes) Net Sales (R$ million) EBITDA (R$ million) EBITDA Margin QUARTERLY OVERVIEW Improved shipment volume, reflecting the typical seasonal upturn and higher customer inventory levels amid changes in US trade policy; Higher average price in U.S. dollars, reflecting a better mix of products sold and partly from the price increase announcements made during 1Q25; Lower cost per tonne in U.S. dollars, greater dilution of fixed costs, partially offset by higher scrap costs. UTILIZATION RATE 1Q24 4Q24 1Q25 1,139 1,072 1,229 +14.6% 1Q24 4Q24 1Q25 7,914 7,536 8,768 +16.3% 812 1Q24 4Q24 1Q25 1,774 1,198 +47.5% 22.4% 10.8% 13.7% 45% 50% Bars Shapes 5% Downstream MARKETS OF OPERATION1 ~40% Non-residential construction and infrastructure ~60% Manufacturing, Energy and Automotive PRODUCT PORTFOLIO1 Long Steel 100% Rolled steel 86% Crude Steel 81% 1 The participation values of products and markets are approximate estimates and do not refer to 1Q25 volumes.

11 Still weak demand and greater competition in the local market leading to lower prices, effects partially offset by lower costs. UTILIZATION RATE Shipments (1,000 tonnes) Net Sales (R$ million) EBITDA (R$ million) EBITDA Margin QUARTERLY OVERVIEW ARGENTINA Slight reduction in steel production and shipment volume, reflecting the anticipation of orders in 4Q24. Stable demand due to favorable execution of public and private works. Prices pressured by the level of steel imports. PERU URUGUAY 227 271 237 1Q24 4Q24 1Q25 -12.5% 1Q24 4Q24 1Q25 1,191 1,711 1,366 -20.2% 285 227 188 1Q24 4Q24 1Q25 -17.2% 23.9% 13.3% 13.8% 80% 20% Bars & Beams Downstream & Others PRODUCT PORTFOLIO1 MARKETS OF OPERATION1 Long Steel 100% SOUTH AMERICA Rolled steel 63% Crude Steel 63% 1 The participation values of products and markets are approximate estimates and do not refer to 1Q25 volumes. ~70% Distribution (semi-finished) ~20% Civil construction ~10% Industry

12 OPERATIONAL PERFORMANCE 1 Non-accounting measurement prepared by the Company. The Company states the Adjusted EBITDA to provide additional information about cash generated in the period . 2 Includes iron ore sales. FUNDAMENTAL GEOGRAPHIC DIVERSIFICATION TO ENSURE RESILIENT RESULTS ADJUSTED EBITDA (R$ million) andADJUSTED EBITDA MARGIN¹ NET SALES² (R$ million) 1Q25 1Q25 North Am. Brazil South Am. Eliminations 0.4% -171 227 188 1,376 385 1,054 812 1,198 -24 -38 EBITDA 4Q24 North Am. -322 Brazil -38 South Am. -15 Eliminations EBITDA 1Q25 2,391 14.2% 2,402 13.8% 3.3% 1,711 7,769 1,233 7,494 7,536 8,768 -193 -253 Net Sales 4Q24 North Am. -274 Brazil -345 South Am. -60 Eliminations 1,366 Net Sales 1Q25 16,822 17,375

13 CASH FLOW & NET CASH VARIATION 1 Includes the cash effect on inventories, customers, and suppliers accounts. | 2 Includes the cash effect of income tax on the Company’s several subsidiaries, including the portion accrued in previous periods, and due in the current period . 3 Includes the addition of R$1.4 billion in Capex in 1Q25, plus the amount of R$462 million not disbursed in 2024. | 4 Includes interest payments on loans and financing and interest on leases. 5 Proportional EBITDA of joint ventures net of dividends received from these JVs. | 6 Disbursements on other intangible assets and lease payments. | 7 Other changes include Other Assets and Liabilities accounts. CASH FLOW (R$ million) NET CASH VARIATION (R$ million) +2.974 2,402 1Q25 Adjusted EBITDA -767 Working Capital1 - 317 Income Tax2 -1,839 CAPEX³ - 115 Juros -128 EBITDA proporcional JV’s -150 -338 var -1,252 1Q25 Free Cash Flow Interest4 JVs Proportional EBITDA5 Intangibles & Leasing6 Other7 8,277 6,870 4Q24 Cash -1,252 1Q25 Free Cash Flow +1,195 Financing Variation -484 Return to Shareholders -508 M&A -358 Exchange variation & other 1Q25 Cash

D 14 LIQUIDITY & INDEBTEDNESS CASH, DEBT AND LEVERAGE (R$ billion) LIQUIDITY POSITION AND DEBT AMORTIZATION1 (R$ billion) RATINGS GROSS DEBT < R$12 BILLION AVERAGE TERM > 6 YEARS NET DEBT/EBITDA ≤ 1.5X BBB STABLE BBB STABLE Baa2 STABLE AVERAGE COST 6.4 YEARS BRL: 103.9% CDI Y/Y USD: 5.5% Y/Y AVERAGE TERM ¹ Global Revolving Credit Facility 6.9 5.0 Liquidity 1.8 2025 0.8 0.2 2026 2.4 2027 1.5 2028 1.5 2029 2.9 2030 3.1 2031 onwards 11.9 Cash & Equiv. RCF ¹ Bonds Debentures Bank Loans 0.40x 0.53x 0.32x 0.48x 0.69x 1Q24 2Q24 3Q24 4Q24 1Q25 5.1 5.9 5.9 6.6 3.7 8.8 5.4 8.3 7.6 6.9 Net Debt Cash Net Debt/Adjusted EBITDA 11.0 12.5 12.5 13.6 14.5 Gross Debt GERDAU FINANCIAL POLICY

DISTRIBUTION OF DIVIDENDS ABOVE THE MANDATORY MINIMUM AND SOLID IMPLEMENTATION OF THE SHARE BUYBACK PROGRAM 15 RETURN TO SHAREHOLDERS 2025 SHARE BUYBACK PROGRAM DISTRIBUTION OF DIVIDENDS AMOUNT PER SHARE AMOUNT PER SHARE METALÚRGICA GERDAU S.A. GGBR GOAU Total program: up to 64.5 million shares Repurchased by April 11, 2025: R$444.1 MM GGBR4/GGBR3 (1.4% of outstanding shares) Cancellation of 24.5 million shares (or 86% of repurchased shares) Total program: up to 6 million shares Completion of the program on April 7, 2025. R$56.2 MM GOAU4 (0.6% of outstanding shares) Cancellation of 6.0 million shares (or 100% of repurchased shares) R$243.5 m R$0.12 R$79.1 m R$0.08 44.2% 55.8% Repurchased² To repurchase GGBR 100.0% 1 Shareholder payment / Parent company’s net income after recording reserves provided for in Bylaws. | 2 Considers the buyback program by April 11,2025 . 15 GERDAU S.A. 1ST QUARTER 1ST QUARTER DIVIDENDS (R$ million) 589 253 619 203 244 350 845 281 1Q24 2Q24 3Q24 4Q24 1Q251 969 1,048 525 30.3% 30.9% 75.7% 349.4% 73.7% Payout Dividends distributed (R$ million) Buyback (R$ million) 1 GOAU

Environmental returns and safety² 1 It does not consider contributions made by Gerdau Next. 2 Investments with environmental and safety returns are included in the CAPEX guidance. 3 After the investment matures. CAPEX 2025e¹ 1Q25¹ ~R$1.6 b 50% 50% Maintenance Competitiveness INVESTMENTS IN BUSINESS GROWTH AND COMPETITIVENES To invest Already invested Capacity addition3 (Thousand tonnes/year) NORTH AMERICA BRAZIL TOTAL 500 250 250 STRATEGIC CAPEX R$6.0 b STRATEGIC CAPEX 1Q25 | ~R$0.7 billion 2025e | ~R$2.8 billion 16 Midlothian Expansion Downstream Scrap Processing in Pindamonhangaba Miguel Burnier Mining Hot Coil Expansion + Utilities Rolling Capacity Forest Expansion MG 5,803 3,398 Total 1,500 450 400 3,200 1,550 1,750 350 9,200 R$1.4 bi 40% 60%

STRATEGIC CAPEX MAIN PROJECTS MIDLOTHIAN EXPANSION “PHASE 1” PHYSICAL ADVANCE FINANCIAL ADVANCE 45% 55% Solar Panels and Midlothian Industrial Unit START-UP (PHASE 1): 2ND SEMESTER OF 2025 POTENTIAL EBITDA: ~R$140 MILLION MIGUEL BURNIER MINING Tailings Filtration PHYSICAL ADVANCE FINANCIAL ADVANCE 65% 50% START-UP: 4TH QUARTER 2025 POTENTIAL EBITDA :~ R$1.1 BILLION HOT-ROLLED COIL EXPANSION Rolling Mills PHYSICAL ADVANCE FINANCIAL ADVANCE 100% 94% START-UP: 1ST QUARTER 2025 POTENTIAL EBITDA : ~ R$ 400 MILLION 17

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