Relatório Gerencial IBBP11 de setembro de 2026

September | 2026

FUND OVERVIEW

inVista Brazilian Business Park FII Position as of · September | 2026

TOTAL NET ASSETS (R$)

997.8 ^M

12-MONTH DIVIDEND YIELD

11.60%

TOTAL NUMBER OF UNITHOLDERS

2,266

SUBORDINATED CLASS

MARKET CAP (R$)

612.8 ^M

MARKET PRICE PER UNIT (R$)

8.13

DISTRIBUTION PER UNIT (R$)

0.0841

NET ASSETS (R$)

703.2 ^M

BOOK VALUE PER UNIT (R$)

9.33

MONTHLY DIVIDEND YIELD (ANNUALISED)¹

12.41%

NUMBER OF UNITHOLDERS

2,262

P/BV

0.87 ^x

NUMBER OF UNITS

75,370,655

SENIOR CLASS

NET ASSETS (R$)

294.5 ^M

DISTRIBUTION PER UNIT (R$)

0.091

BOOK VALUE PER UNIT (R$)

11.02

MONTHLY DIVIDEND YIELD (ANNUALISED)¹

11.80%

NUMBER OF UNITHOLDERS

4

NUMBER OF UNITS

26,721,829

¹ Subordinated Class: Figures relative to the market price at month-end | Senior Class: Figures relative to the weighted average issue price per unit since inception (R$ 9.26/unit).

MARKET OVERVIEW

LISTED REAL ESTATE FUNDS AND THE INDUSTRIAL/LOGISTICS SEGMENT

The IFIX ended September 2026 down 0.2% month-on-month, extending the correction observed in recent months and relinquishing part of its year-to-date gains, which returned the index to levels close to those recorded in December 2025. During the month, the Central Bank's Monetary Policy Committee (Copom) reduced the Selic rate by 25 basis points to 13.75% per annum, in line with the easing path already priced into the yield curve. Notwithstanding the rate cut, market sentiment remained cautious, chiefly in view of the ongoing expansion of fiscal and credit stimulus, persistent pressure on current inflation and the proximity of the first round of the general elections, factors that sustained elevated risk premiums. Industrial and logistics funds tracked the broader index but posted a more contained decline, preserving a positive year-to-date return and reaffirming the segment's comparatively defensive profile among brick-and-mortar funds.

The volatility observed in the listed market stands in contrast to the soundness of the segment, whose operating fundamentals remain robust. Vacancy in high-specification warehouses in Brazil has reached a historic low, demand continues to be underpinned by the expansion of e-commerce, and competition for prime assets supports lease renewals and rental adjustments. Together with long-term lease agreements, high-quality assets and a diversified tenant base, these factors provide a high degree of visibility over the segment's revenues. Units currently trade at a meaningful discount to net asset value and offer an annualised dividend yield of approximately 10.5% on book value, a combination that enhances the riskreturn profile and broadens the scope for appreciation over the medium term.

UPDATES — SEPTEMBER 2026

In September 2026, IBBP11 — inVista Brazilian Business Park FII announced distributions of R$ 0.091 per senior unit and R$ 0.0841 per subordinated unit, payable on 15 October and 16 October, respectively, to unitholders of record on 7 October. The distribution remains in line with the fund's financial plan and with its revenue and cash projections for the coming months.

The fund closed the month with physical vacancy of 1.3% of GLA — equivalent to 98.7% occupancy — a high level for a fund with an industrial profile, underlining the quality of its assets and tenant base. Complexo Gaia, Centro Empresarial Atibaia and Extrema are fully occupied, followed by Condomínio Barão de Mauá (93.5%). Vacant space totals 3,132 sqm, concentrated in the properties acquired from XPIN11, and negotiations with prospective tenants continue to progress well, with talks at an advanced stage.

Construction of the Jequitibá and Jacarandá buildings at Complexo Gaia continues at a good pace: physical progress reached 90.9%, ahead of the budgeted schedule, with delivery expected in November 2026. The buildings will be leased to MCassab under a 17,656 sqm contract, indexed to IPCA and maturing in October 2041.

With net assets of R$ 997.8 million, occupancy at high levels, advanced negotiations for the remaining space and construction ahead of schedule, IBBP11 trades at 0.87x book value and is on track to eliminate its vacancy, consolidating its position as the leading industrial real estate fund on the Brazilian exchange.

THE BRAZILIAN BUSINESS PARK

OVERVIEW

BBP (Brazilian Business Park) is one of the largest industrial complexes in Latin America, and all of its parks sit in prime locations along São Paulo's main highways — Bandeirantes, Dom Pedro I, Anhanguera and Fernão Dias. The company has been developing and building industrial cities for more than 30 years, giving its tenants privileged access to power, telecommunications, environmental management, water and sewage infrastructure, among other value-added services. This structure is based on a plug & play format, allowing manufacturers to move in quickly and stay focused on their core operations while BBP takes care of everything else.

To give unitholders a closer look at the infrastructure of the BBP parks, we invite you to watch the institutional video, which offers an aerial tour showing the construction quality, the high logistics standard and the quality of the areas that host major domestic and multinational operations.

CURRENT POSITIONING

inVista Brazilian Business Park FII is a real estate investment fund whose objective is to generate income and capital gains by developing industrial and logistics warehouses built by BBP for subsequent lease and/or sale.

The fund holds interests in the Barão de Mauá, Centro Empresarial Atibaia, Complexo Gaia and Extrema/MG parks, all equipped with shared infrastructure that supports the operating performance of the companies installed there. The parks lie within a 500 km radius — one day of freight distribution — of the metropolitan regions that together account for approximately 60% of Brazil's GDP.

With a total GLA of 248 thousand sqm built and 17 thousand sqm under construction (scheduled for delivery in the fourth quarter of 2026), the portfolio is leased to multinational companies of very high credit quality. The fund also holds 149 thousand sqm of development pads for future projects.

• 98.7% physical occupancy across the properties
• 95.5% of rent collected on time in September 2026
• Weighted average lease maturity of 6.7 years
• Revenue diversified across 31 tenants.

PORTFOLIO COMPOSITION

Physical Composition % of GLA by property

/>

Tenant Countries Leased GLA (sqm)

Tenant Industries % of GLA

Development Status GLA (sqm)

Physical Vacancy % of GLA

Construction — Physical Progress

INCOME STATEMENT

² The Properties — Gains on sales line includes gains realised on the disposal of units in other listed real estate funds.

DISTRIBUTION HISTORY — SUBORDINATED⁴

Distribution per Unit (R$) Dividend Yield

DISTRIBUTION HISTORY — SENIOR⁴

Distribution per Unit (R$) Dividend Yield

³ Distribution figures also include income paid to holders of subscription receipts from the 6th Offering.

⁴ Subordinated Class: Figures relative to the market price at month-end | Senior Class: Figures relative to the weighted average issue price per unit since inception (R$ 9.26/unit).

GROSS-UP DIVIDEND YIELD VS. NTN-B5

^& lt;sup>5</sup> The gross-up dividend yield assumes a 15% income tax rate.

PERFORMANCE

Return on the subordinated book value per unit, adjusted for distributions, compared with the CDI and IFIX benchmarks over the same period. Past performance is no guarantee of future results.

LEASE SCHEDULE

COMPLEXO GAIA

BBP - Complexo Gaia is located at km 91 of the Dom Pedro I Highway in Jarinu, São Paulo, occupying a total site of 5,114,281 sqm with 904,385 sqm of leasable area. The park offers a range of adaptable spaces to meet the specific needs of each company. The project follows the BBP standard of sustainability and innovation, integrating advanced ecological and technological solutions. Its strategic location also provides easy access to Brazil's main road, air and port distribution routes.

140,168 sqm

GLA built / under construction

148,937 sqm

Development pad GLA

100%

Occupancy of completed properties

CONDOMÍNIO BARÃO DE MAUÁ

BBP - Condomínio Barão de Mauá is located at km 87.5 of the Dom Pedro I Highway in Atibaia, São Paulo, with easy access to major commercial and industrial hubs. The park covers a total site of 448,430 sqm, of which 122,948 sqm is leasable area, offering large and adaptable spaces for companies' operating requirements. The infrastructure is complete and flexible, allowing spaces to be tailored to each business.

48,349 sqm

GLA built / under construction

— Development pad GLA

93.5% Occupancy of completed properties

CENTRO EMPRESARIAL ATIBAIA

BBP - Centro Empresarial Atibaia is located at Av. Tégula, 888, in Atibaia, São Paulo, near km 87.5 of the Dom Pedro I Highway. The park occupies a total site of 91,355 sqm, of which 48,690 sqm is leasable area, and offers adaptable spaces for the specific needs of each company. The facilities are equipped with advanced technology to foster innovation and productivity.

30,305 sqm

GLA built / under construction

— Development pad GLA

100%

Occupancy of completed properties

EXTREMA

BBP - Extrema is located at Estrada Municipal Antônio Agostinho Barbosa, 1300, in the Bairro dos Pires district of Extrema, Minas Gerais. The development covers a total site of 117,956 sqm, of which 47,282 sqm is dedicated to leasing. The park offers highly configurable modules that adapt to different operating requirements, supporting business expansion and improved performance.

47,282 sqm

GLA built / under construction

— Development pad GLA

100%

Occupancy of completed properties

inVista Brazilian Business Park FII

MANAGEMENT REPORT · SEPTEMBER | 2026

This material is intended exclusively for the client and does not take into account their financial situation or individual needs. It also does not cover all the information a prospective investor should assess before making any investment decision. It was prepared by the fund management team of inVista Real Estate, drawing on public sources, internal data and other external information. This material must not be construed as securities research, promotional material, a public offering, investment advice, or a solicitation to buy or sell, nor as an investment recommendation.

Allocation decisions are the sole responsibility of the discretionary manager of the investment vehicle. We recommend that clients consult qualified professionals before making any investment in securities. Partial or full reproduction of this material is prohibited without the express authorisation of inVista, or unless the complete source is duly cited.

SÃO PAULO — BRAZIL

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We thank our unitholders for their continued confidence.

For more information about our funds, write to [email protected] or visit invista.me