UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 Or 15d-16 Of

The Securities Exchange Act Of 1934

For the month of November 2025

Commission File Number: 001-14950

ULTRAPAR HOLDINGS INC.

(Translation of Registrant’s Name into English)

Brigadeiro Luis Antonio Avenue, 1343, 9th Floor

São Paulo, SP, Brazil 01317-910

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ____X____ Form 40-F ________

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes ________ No ____X____

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes ________ No ____X____

Table of Contents

ULTRAPAR HOLDINGS INC.

TABLE OF CONTENTS

ITEM

1.	Individual and Consolidated Interim Financial Information as of and for the Quarter Ended September 30, 2025 and Report on Review of Interim Financial Information
2.	3Q25 Earnings Release
3.	Minutes of the Meeting of the Board of Directors of Ultrapar Participações S.A., held on November 12, 2025

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Table of Contents

Ultrapar Participações S.A. and Subsidiaries

Table of Content
Statements of financial position	8
Statements of income	10
Statements of comprehensive income	11
Statements of changes in equity	12
Statements of cash flows - indirect method	14
Statements of value added	15
1. Operations	16
2. Basis of preparation and presentation of individual and consolidated interim financial information	16
3. New accounting policies and changes in accounting policies	20
4. Cash and cash equivalents and financial investments	20
5. Trade receivables and reseller financing (Consolidated)	21
6. Inventories (Consolidated)	23
7. Recoverable taxes (Consolidated)	24
8. Related parties	25
9. Income and social contribution taxes	28
10. Contractual assets with customers - exclusivity rights (Consolidated)	29
11. Investments in subsidiaries, joint ventures and associates	30
12. Right-of-use assets and leases payable (Consolidated)	34
13. Property, plant, and equipment (Consolidated)	35
14. Intangible assets (consolidated)	36
15. Loans, financing and debentures	38
16. Trade payables (consolidated)	42
17. Employee benefits and private pension plan (Consolidated)	42
18. Provisions and contingent liabilities (Consolidated)	42
19. Subscription warrants – indemnification	45
20. Equity	46
21. Net revenue from sales and services (Consolidated)	47
22. Costs, expenses and other operating results by nature	47
23. Financial result	49
24. Earnings per share (Parent and Consolidated)	50
25. Segment information	51
26. Financial instruments (Consolidated)	55
27. Acquisition of Interest and Control	66
28. Discontinued operation	66
29. Events after the reporting period	73

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(Convenience Translation into English from the Original Previously Issued in Portuguese)

Ultrapar Participacoes S.A.

Report on Review of Interim Financial Information
for Period Of Three And Nine Months Ended on September 30, 2025

Deloitte Touche Tohmatsu Auditores Independentes Ltda.

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Deloitte Touche Tohmatsu

Av. Dr. Chucri Zaidan, 1.240 -

4^oao 12^o andares - Golden Tower

04711-130 - São Paulo - SP

Brazil

Tel.: + 55 (11) 5186-1000

Fax: + 55 (11) 5181-2911

www.deloitte.com.br

(Convenience Translation into English from the Original Previously Issued in Portuguese)

REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION

To the Shareholders, Board of Directors and Management of
Ultrapar Participações S.A.

Introduction

We have reviewed the accompanying individual and consolidated interim financial information of Ultrapar Participações S.A. (“Company”), identified as Parent and Consolidated, respectively, included in the Interim Financial Information Form (ITR), for the quarter ended September 30, 2025, which comprises the statements of financial position as at September 30, 2025 and the related statements of income and comprehensive income for the three and nine-month periods then ended, and of changes in equity and of cash flows for the nine-month period then ended, including the explanatory notes.

Management is responsible for the preparation of this individual and consolidated interim financial information in accordance with technical pronouncement CPC 21(R1) and international standard IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board (IASB), as well as for the presentation of such information in accordance with the standards issued by the Brazilian Securities and Exchange Commission (CVM), applicable to the preparation of Interim Financial Information (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 of interim financial information (NBC TR 2410 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 the standards on auditing 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 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 has not been prepared, in all material respects, in accordance with technical pronouncement CPC 21 (R1) and international standard IAS 34 applicable to the preparation of ITR and presented in accordance with the standards issued by the Brazilian Securities and Exchange Commission (CVM).

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (DTTL), its global network of member firms, and their related entities (collectively, the “Deloitte organization”). DTTL (also referred to as “Deloitte Global”) and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more.

Deloitte provides leading professional services to nearly 90% of the Fortune Global 500® and thousands of private companies. Our people deliver measurable and lasting results that help reinforce public trust in capital markets and enable clients to transform and thrive. Building on its 180-year history, Deloitte spans more than 150 countries and territories. Learn how Deloitte’s approximately 460,000 people worldwide make an impact that matters at www.deloitte.com.

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Other matters

Statements of value added

The interim financial information referred to above includes the individual and consolidated statements of value added (DVA) for the nine-month period ended September 30, 2025, prepared under the responsibility of the Company’s Management, and presented as supplemental information for international standard IAS 34 purposes. These statements were subject to the review procedures performed together with the review of the ITR to reach a conclusion on whether they are reconciled with the interim financial information and the accounting records, as applicable, and if their form and content are consistent with the criteria set forth in technical pronouncement CPC 09 (R1) - Statement of Value Added. Based on our review, nothing has come to our attention that causes us to believe that these statements of value added were not prepared, in all material respects, in accordance with the criteria defined in such standard and consistently with the individual and consolidated interim financial information taken as a whole.

The accompanying interim financial information has been translated into English for the convenience of readers outside Brazil.

São Paulo, November 12, 2025

DELOITTE TOUCHE TOHMATSU	Daniel Corrêa de Sá
Auditores Independentes Ltda.	Engagement Partner

Table of Contents

Ultrapar Participações S.A. and Subsidiaries
Statements of financial position
As of September 30, 2025 and December 31, 2024
(In thousands of Brazilian Reais)

		Parent		Consolidated
	Note	09/30/2025	12/31/2024	09/30/2025	12/31/2024
Assets
Current assets
Cash and cash equivalents	4.a	8,909	4,186	2,534,050	2,071,593
Financial investments	4.b	16,580	20,100	1,489,624	2,306,927
Derivative financial instruments	26.f	‐	‐	180,981	246,084
Trade receivables	5.a	‐	‐	3,696,699	3,540,266
Reseller financing	5.a	‐	‐	515,715	511,979
Inventories	6	‐	‐	3,824,082	3,917,076
Recoverable taxes	7.a	1,514	1,323	1,713,727	2,040,008
Recoverable income and social contribution taxes	7.b	11,870	16,734	278,579	151,930
Energy trading futures contracts	26.h	‐	‐	236,026	141,257
Dividends receivable		46,079	‐	877	3,415
Other receivables and other assets		95,779	95,859	288,340	294,769
Prepaid expenses		7,647	5,506	166,317	163,846
Contractual assets with customers - exclusivity rights	10	‐	‐	662,929	658,571
		188,378	143,708	15,587,946	16,047,721
Assets held for sale	28	146,803	‐	709,086	‐
Total current assets		335,181	143,708	16,297,032	16,047,721

Non-current assets
Financial investments	4.b	355,000	300,001	2,609,230	2,819,179
Derivative financial instruments	26.f	‐	‐	655,149	585,294
Trade receivables	5.a	‐	‐	35,428	27,003
Reseller financing	5.a	‐	‐	762,038	766,045
Related parties	8	7,518	7,076	91,394	48,309
Deferred income and social contribution taxes	9.a	138,930	142,630	848,627	936,941
Recoverable taxes	7.a	74	74	3,613,722	2,650,269
Recoverable income and social contribution taxes	7.b	7,196	7,196	310,233	346,137
Energy trading futures contracts	26.h	‐	‐	423,863	263,438
Escrow deposits	18.a	13,931	12,615	480,550	446,076
Indemnification asset - business combination	18.c	‐	‐	150,804	126,098
Other receivables and other assets		5,215	2,607	255,317	117,076
Prepaid expenses		19,249	18,989	56,886	40,904
Contractual assets with customers - exclusivity rights	10	‐	‐	1,473,393	1,473,331
Investments in subsidiaries, joint ventures and associates	11	15,590,398	14,898,466	505,651	2,148,633
Right-of-use assets, net	12	6,524	7,664	1,927,044	1,671,324
Property, plant and equipment, net	13	64,303	68,447	11,828,944	7,135,966
Intangible assets, net	14	271,645	273,674	3,239,365	1,908,330
Total non-current assets		16,479,983	15,739,439	29,267,638	23,510,353
Total assets		16,815,164	15,883,147	45,564,670	39,558,074

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Ultrapar Participações S.A. and Subsidiaries
Statements of financial position
As of September 30, 2025 and December 31, 2024
(In thousands of Brazilian Reais)

		Parent		Consolidated
	Note	09/30/2025	12/31/2024	09/30/2025	12/31/2024
Liabilities
Current liabilities
Trade payables	16.a	29,285	25,423	3,413,134	3,518,385
Trade payables - reverse factoring	16.b	‐	‐	‐	1,014,504
Loans, financing and debentures	15	‐	‐	2,642,037	3,478,673
Derivative financial instruments	26.f	‐	‐	205,539	74,087
Salaries and related charges		41,910	44,191	544,201	480,285
Taxes payable		622	903	231,343	151,230
Energy trading futures contracts	26.h	‐	‐	174,690	66,729
Dividends payable		15,725	293,165	17,187	327,471
Income and social contribution taxes payable		655	175	292,156	322,074
Post-employment benefits	17.a	‐	‐	24,098	24,098
Provisions for tax, civil and labor risks	18.a	305	431	66,818	47,788
Leases payable	12.b	3,170	3,012	336,447	316,460
Financial liabilities of customers		‐	‐	76,100	117,090
Other payables		449	2,069	443,779	554,327
		92,121	369,369	8,467,529	10,493,201
Liabilities held for sale	28	‐	‐	442,358	‐
Total current liabilities		92,121	369,369	8,909,887	10,493,201

Non-current liabilities
Loans, financing and debentures	15	‐	‐	14,143,403	10,381,837
Derivative financial instruments	26.f	‐	‐	376,450	367,513
Energy trading futures contracts	26.h	‐	‐	170,398	48,047
Related parties	8	2,875	2,875	2,875	3,516
Deferred income and social contribution taxes	9.a	‐	‐	631,487	132,825
Post-employment benefits	17.a	1,776	1,517	212,529	198,778
Provisions for tax, civil and labor risks	18.a	134,462	197,396	628,051	610,572
Leases payable	12.b	4,383	5,698	1,371,429	1,168,692
Financial liabilities of customers		‐	‐	20,508	63,135
Subscription warrants - indemnification	19	56,672	47,745	56,672	47,745
Provision for loss on investment	11	88,639	68,530	36,835	349
Other payables		46,493	31,299	337,560	218,420
Total non-current liabilities		335,300	355,060	17,988,197	13,241,429

Equity
Share capital	20.a	7,987,100	6,621,752	7,987,100	6,621,752
Equity instrument granted	20.b	129,776	108,253	129,776	108,253
Capital reserve	20.d	617,279	612,048	617,279	612,048
Treasury shares	20.c	(826,914)	(596,400)	(826,914)	(596,400)
Revaluation reserve	20.d	3,499	3,632	3,499	3,632
Profit reserves	20.e	6,621,752	8,195,221	6,621,752	8,195,221
Retained earnings		1,804,478	‐	1,804,478	‐
Accumulated other comprehensive income		125,855	214,212	125,855	214,212
Shareholder transactions	27.b	(75,082)	‐	(75,082)	‐
Ultrapar shareholders’ equity		16,387,743	15,158,718	16,387,743	15,158,718
Non-controlling interests	11	‐	‐	2,278,843	664,726
Total equity		16,387,743	15,158,718	18,666,586	15,823,444
Total liabilities		16,815,164	15,883,147	45,564,670	39,558,074

The accompanying notes are an integral part of the interim financial information.

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Ultrapar Participações S.A. and Subsidiaries
Statements of income
For the periods ended September 30, 2025 and 2024
(In thousands of Brazilian Reais, except earnings per thousand shares)

		Parent				Consolidated
	Note	07/01/2025 to 09/30/2025	01/01/2025 to 09/30/2025	07/01/2024 to 09/30/2024	01/01/2024 to 09/30/2024	07/01/2025 to 09/30/2025	01/01/2025 to 09/30/2025	07/01/2024 to 09/30/2024	01/01/2024 to 09/30/2024
Continuing operations
Net revenue from sales and services	21	‐	‐	‐	‐	37,033,855	104,418,160	35,357,672	98,097,521
Cost of products and services sold	22	‐	‐	‐	‐	(34,556,279)	(97,651,246)	(33,075,501)	(91,646,046)

Gross profit		‐	‐	‐	‐	2,477,576	6,766,914	2,282,171	6,451,475

Operating income (expenses)
Selling and marketing	22	‐	‐	‐	‐	(603,771)	(1,853,859)	(671,002)	(1,884,131)
General and administrative	22	(10,674)	(38,302)	(11,590)	(36,355)	(569,207)	(1,626,953)	(420,531)	(1,374,833)
Results from disposal of assets		5	7	12	59	13,304	34,005	31,480	105,361
Other operating income (expenses), net	22	1,460	51,761	(4,938)	26,917	123,507	487,060	(111,377)	(337,406)

Operating result before share of profit (loss) of subsidiaries, joint ventures and associates, financial result and income and social contribution taxes		(9,209)	13,466	(16,516)	(9,379)	1,441,409	3,807,167	1,110,741	2,960,466
Share of profit (loss) of subsidiaries, joint ventures and associates	11	716,865	2,113,930	670,085	1,508,446	(8,061)	(115,726)	4,127	(6,970)
Amortization of fair value adjustments on associates acquisition	11	‐	‐	‐	‐	(403)	(1,208)	(407)	(2,089)
Gain on acquisition of control of associate	27.b	‐	‐	‐	‐	‐	91,105	‐	‐
Total share of profit (loss) of subsidiaries, joint ventures and associates		716,865	2,113,930	670,085	1,508,446	(8,464)	(25,829)	3,720	(9,059)

Income before financial result and income and social contribution taxes		707,656	2,127,396	653,569	1,499,067	1,432,945	3,781,338	1,114,461	2,951,407

Financial income	23	12,504	40,484	5,419	48,291	373,444	1,194,702	220,808	661,588
Financial expenses	23	(12,401)	(19,318)	2,115	(20,648)	(774,472)	(1,807,112)	(329,069)	(1,258,366)
Financial result, net	23	103	21,166	7,534	27,643	(401,028)	(612,410)	(108,261)	(596,778)
Income before income and social contribution taxes		707,759	2,148,562	661,103	1,526,710	1,031,917	3,168,928	1,006,200	2,354,629

Income and social contribution taxes
Current	9.b	(585)	(1,535)	(1,927)	(12,519)	(252,588)	(723,886)	(365,650)	(760,375)
Deferred	9.b	3,810	(3,700)	(7,594)	6,780	(4,824)	(135,431)	57,872	50,827
		3,225	(5,235)	(9,521)	(5,739)	(257,412)	(859,317)	(307,778)	(709,548)

Net income from continuing operations		710,984	2,143,327	651,582	1,520,971	774,505	2,309,611	698,422	1,645,081

Discontinued operations
Net income (loss) from discontinued operations	28	(1,796)	(12,929)	‐	‐	(2,100)	(23,490)	‐	‐

Net income for the period		709,188	2,130,398	651,582	1,520,971	772,405	2,286,121	698,422	1,645,081
Income attributable to:
Shareholders of Ultrapar		709,188	2,130,398	651,582	1,520,971	709,188	2,130,398	651,582	1,520,971
Non-controlling interests in subsidiaries	11	‐	‐	‐	‐	63,217	155,723	46,840	124,110

Total earnings per share from continuing operations (based on the weighted average number of shares outstanding) – R$
Basic	24	0.6543	1.9671	0.5903	1.3800	0.6543	1.9671	0.5903	1.3800
Diluted	24	0.6419	1.9321	0.5818	1.3616	0.6419	1.9321	0.5818	1.3616

Earnings per share from discontinued operations (based on the weighted average number of shares outstanding) – R$
Basic	24	(0.0017)	(0.0119)	‐	‐	(0.0017)	(0.0119)	‐	‐
Diluted	24	(0.0016)	(0.0117)	‐	‐	(0.0016)	(0.0117)	‐	‐

Total earnings per share (based on the weighted average number of shares outstanding) – R$
Basic	24	0.6527	1.9552	0.5903	1.3800	0.6527	1.9552	0.5903	1.3800
Diluted	24	0.6403	1.9204	0.5818	1.3616	0.6403	1.9204	0.5818	1.3616

The accompanying notes are an integral part of the interim financial information.

Table of Contents

Ultrapar Participações S.A. and Subsidiaries
Statements of comprehensive income
For the periods ended September 30, 2025 and 2024
(In thousands of Brazilian Reais)

		Parent				Consolidated
	Note	07/01/2025 to 09/30/2025	01/01/2025 to 09/30/2025	07/01/2024 to 09/30/2024	01/01/2024 to 09/30/2024	07/01/2025 to 09/30/2025	01/01/2025 to 09/30/2025	07/01/2024 to 09/30/2024	01/01/2024 to 09/30/2024
Net income for the period, attributable to shareholders of Ultrapar		709,188	2,130,398	651,582	1,520,971	709,188	2,130,398	651,582	1,520,971
Net income for the period, attributable to non-controlling interests in subsidiaries		‐	‐	‐	‐	63,217	155,723	46,840	124,110
Net income for the period		709,188	2,130,398	651,582	1,520,971	772,405	2,286,121	698,422	1,645,081

Items that will be subsequently reclassified to profit or loss:
Fair value adjustments of financial instruments of subsidiaries, joint ventures and associates, net of income and social contribution taxes		13,860	(19,905)	27,161	35,790	18,531	(9,061)	27,161	35,790
Translation adjustments and hedge accounting effects, net of taxes		(38,815)	(68,452)	‐	‐	(64,889)	(121,323)	‐	‐
Total comprehensive income for the period		684,233	2,042,041	678,743	1,556,761	726,047	2,155,737	725,583	1,680,871
Total comprehensive income for the period attributable to shareholders of Ultrapar		684,233	2,042,041	678,743	1,556,761	684,233	2,042,041	678,743	1,556,761
Total comprehensive income for the period attributable to non-controlling interests in subsidiaries		‐	‐	‐	‐	41,814	113,696	46,840	124,110

The accompanying notes are an integral part of the interim financial information.

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Ultrapar Participações S.A. and Subsidiaries
Statements of changes in equity
For the periods ended September 30, 2025 and 2024
(In thousands of Brazilian Reais, except dividends per share)

Equity attributable to:

Note

Share capital

Equity instrument granted

Capital reserve

Treasury shares

Revaluation reserve

Profit reserves

Accumulated other comprehensive income

Shareholder transactions

Retained earnings

Shareholders of Ultrapar

Non-controlling interests ⁽ⁱ⁾

Total equity

Balance as of December 31, 2024

6,621,752

108,253

612,048

(596,400)

3,632

8,195,221

214,212

‐

15,158,718

664,726

15,823,444

Net income for the period

‐

2,130,398

155,723

2,286,121

Other comprehensive income

‐

(88,357)

‐

(88,357)

(42,027)

(130,384)

Total comprehensive income for the period

‐

(88,357)

2,130,398

2,042,041

113,696

2,155,737

Issuance of shares related to the subscription warrants - indemnification

‐

7,863

‐

7,863

‐

7,863

Equity instrument granted

8.d; 20.b

‐

21,523

(7,081)

36,428

‐

50,870

(1,570)

49,300

Purchase of treasury shares

20.c

‐

(266,942)

‐

(266,942)

‐

(266,942)

Realization of revaluation reserve

‐

(133)

‐

133

‐

Capital increase with reserves

20.a

1,365,348

‐

(1,365,348)

‐

Capital increase of non-controlling shareholders

‐

12,154

Shareholder transaction

27.b

‐

(75,082)

(48)

(75,130)

‐

(75,130)

Realization of capital reserve

‐

4,449

‐

4,449

‐

4,449

Non-controlling interest in the equity of acquired subsidiary – Hidrovias

‐

1,639,034

Variation in change of ownership interest of non-controlling shareholders

‐

(110,796)

Non-controlling interest in acquired subsidiary

15,691

Dividends and interest on capital attributable to non-controlling interests

‐

(54,092)

Additional dividends

20.e

‐

(208,121)

‐

(208,121)

‐

(208,121)

Interim dividends (R$ 0.30 per share)

20.e

‐

(326,005)

‐

(326,005)

Balance as of September 30, 2025

7,987,100

129,776

617,279

(826,914)

3,499

6,621,752

125,855

(75,082)

1,804,478

16,387,743

2,278,843

18,666,586

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Ultrapar Participações S.A. and Subsidiaries

Statements of changes in equity

For the periods ended September 30, 2025 and 2024

Equity attributable to:

Note

Share capital

Equity instrument granted

Capital reserve

Treasury shares

Revaluation reserve

Profit reserves

Accumulated other comprehensive income

Cumulative translation adjustments

Retained earnings

Shareholders of Ultrapar

Non-controlling interests ⁽ⁱ⁾

Total equity

Balance as of December 31, 2023

6,621,752

75,925

597,828

(470,510)

3,802

6,523,590

154,108

‐

13,506,495

523,331

14,029,826

Net income for the period

‐

1,520,971

124,110

1,645,081

Other comprehensive income

‐

35,790

‐

35,790

‐

35,790

Total comprehensive income for the period

‐

35,790

‐

1,520,971

1,556,761

124,110

1,680,871

Issuance of shares related to the subscription warrants - indemnification

‐

6,452

‐

6,452

‐

6,452

Equity instrument granted

8.d; 20.b

‐

17,192

1,965

21,593

‐

40,750

40,754

Realization of revaluation reserve of subsidiaries

‐

(132)

‐

132

‐

Shareholder transaction - changes of ownership interest

‐

403

412

Dividends prescribed

3,369

Non-controlling interest in acquired subsidiary

‐

107,954

Allocation of net income:

‐

Interest on equity attributable to non-controlling interests

‐

(105,590)

Dividends attributable to non-controlling interests

‐

(5,562)

Approval of additional dividends by the Ordinary General Shareholders’ Meeting

‐

(134,031)

‐

(275,971)

(410,002)

‐

(410,002)

Balance as of September 30, 2024

6,621,752

93,117

606,245

(448,917)

3,670

6,389,559

189,898

‐

1,248,510

14,703,834

644,650

15,348,484

⁽ⁱ⁾	Are substantially represented by non-controlling shareholders of Iconic and Hidrovias.

The accompanying notes are an integral part of the interim financial information.

Table of Contents

Ultrapar Participações S.A. and Subsidiaries
Statements of cash flows - indirect method
For the periods ended September 30, 2025 and 2024
(In thousands of Brazilian Reais)

		Parent		Consolidated
	Note	09/30/2025	09/30/2024	09/30/2025	09/30/2024
CASH FLOWS FROM CONTINUING OPERATING ACTIVITIES
Net income from continuing operations		2,143,327	1,520,971	2,309,611	1,645,081
Adjustments to reconcile net income to cash provided (consumed) by operating activities
Share of profit (loss) of subsidiaries, joint ventures and associates and amortization of fair value adjustments on associates acquisition	11	(2,113,930)	(1,508,446)	116,934	9,059
Amortization of contractual assets with customers - exclusivity rights	10	‐	‐	339,336	402,804
Amortization of right-of-use assets	12	2,189	2,101	266,781	230,157
Depreciation and amortization	13; 14	11,198	11,715	883,638	673,806
Interest, monetary variations and foreign exchange variations		(46,479)	6,616	674,375	944,259
Current and deferred income and social contribution taxes	9.b	5,235	5,739	859,317	709,548
Gain (loss) on disposal or write-off of assets		(7)	(35,298)	(44,694)	(140,600)
Equity instrument granted		11,718	23,005	21,523	40,754
Gain (loss) on the fair value of energy contracts		‐	‐	(24,694)	‐
Provision for decarbonization - CBIO		‐	‐	307,123	441,813
Revaluation of investment in associates	27.b	‐	‐	(91,105)	‐
Other provisions and adjustments		(53,553)	(6,041)	(40,686)	68,555
		(40,302)	20,362	5,577,459	5,025,236
(Increase) decrease in assets
Trade receivables and reseller financing	5	‐	‐	(116,308)	157,955
Inventories	6	‐	‐	267,745	(455,469)
Recoverable taxes		11,339	9,383	(83,794)	279,511
Dividends received from subsidiaries, associates and joint ventures		1,635,828	614,857	11,187	2,028
Other assets		(6,783)	(10,836)	39,011	(180,303)

Increase (decrease) in liabilities
Trade payables and trade payables - reverse factoring	16	3,862	3,606	(1,254,598)	(1,400,113)
Salaries and related charges		(2,281)	(11,683)	17,458	(31,557)
Taxes payable		(281)	(990)	3,217	(30,242)
Income and social contribution taxes payable		3,657	(8,171)	(732,602)	(719,429)
Other liabilities		55,055	(12,654)	12,371	(19,479)
Acquisition of CBIO and carbon credits	14	‐	‐	(323,409)	(586,695)
Payments of contractual assets with customers - exclusivity rights	10	‐	‐	(284,461)	(285,666)
Payment of contingencies		(10,026)	‐	(20,199)	(30,896)
Income and social contribution taxes paid		(263)	(2,920)	(69,008)	(219,900)
Net cash provided by continuing operating activities		1,649,805	600,954	3,044,069	1,504,981
Net cash provided by discontinued operating activities		‐	‐	26,833	‐
Net cash provided by operating activities		1,649,805	600,954	3,070,902	1,504,981

CASH FLOWS FROM INVESTING ACTIVITIES
Financial investments, net of redemptions	4.b	(21,237)	142,736	648,099	(2,051,959)
Acquisition of property, plant and equipment and intangible assets	13; 14	(5,027)	(75,627)	(1,335,013)	(1,099,268)
Cash provided by disposal of investments and property, plant and equipment		-	264,564	110,954	1,256,077
Capital increase in subsidiaries, associates and joint ventures	11	(537,149)	(585,335)	‐	‐
Capital decrease in subsidiaries, associates and joint ventures	11	‐	‐	‐	522
Net cash consumed in the purchase of investments and other assets		‐	‐	(617,172)	(1,242,517)
Cash acquired in business combination		‐	‐	1,172,234	‐
Net cash consumed by continuing investing activities		(563,413)	(253,662)	(20,898)	(3,137,145)
Net cash consumed by discontinued investing activities		‐	‐	(21,728)	‐
Net cash consumed by investing activities		(563,413)	(253,662)	(42,626)	(3,137,145)

CASH FLOWS FROM FINANCING ACTIVITIES
Loans, financing and debentures
Proceeds	15	‐	‐	4,960,091	3,658,510
Repayments	15	‐	‐	(4,521,892)	(2,125,954)
Interest and derivatives (paid) or received		‐	7,838	(1,261,965)	(741,857)
Payments of lease
Principal and interest paid	12.b	(2,719)	(2,638)	(367,195)	(326,418)
Dividends paid		(811,566)	(712,916)	(898,536)	(781,182)
Payments of financial liabilities of customers		‐	‐	(97,899)	(123,203)
Capital increase made by non-controlling shareholders and redemption of shares		-	‐	(12,300)	13,500
Repurchase of treasury shares		(266,942)	‐	(266,942)	‐
Related parties		(442)	(398)	(31,936)	(11,554)

Net cash consumed by continuing financing activities		(1,081,669)	(708,114)	(2,498,574)	(438,158)
Net cash consumed by discontinued financing activities		‐	‐	(558)	‐
Net cash consumed by financing activities		(1,081,669)	(708,114)	(2,499,132)	(438,158)

Effect of exchange rate changes on cash and cash equivalents in foreign currency - continuing operations		‐	‐	(62,140)	‐
Effect of exchange rate changes on cash and cash equivalents in foreign currency - discontinued operations		‐	‐	‐	‐
Increase (decrease) in cash and cash equivalents -continuing operations		4,723	(360,822)	462,457	(2,070,322)
Increase (decrease) in cash and cash equivalents -discontinued operations		‐	‐	4,547	‐
Cash and cash equivalents at the beginning of the period - continuing operations	4.a	4,186	412,840	2,071,593	5,925,688
Cash and cash equivalents at the beginning of the period - discontinued operations		‐	‐	11,313	‐
Cash and cash equivalents at the end of the period - continuing operations	4.a	8,909	52,018	2,534,050	3,855,366
Cash and cash equivalents at the end of the period - discontinued operations		‐	‐	15,860	‐

Non-cash transactions:
Addition and remeasurement on right-of-use assets and leases payable		‐	‐	279,718	273,745
Addition on contractual assets with customers - exclusivity rights		‐	‐	59,295	53,961
Reclassification between financial assets and investment in associates		‐	‐	‐	645,333
Acquisition of property, plant and equipment and intangible assets without cash effect		‐	‐	24,476	9,046
Capital increase in subsidiaries with shares		‐	133,552	‐	-

The accompanying notes are an integral part of the interim financial information.

Table of Contents

Ultrapar Participações S.A. and Subsidiaries
Statements of value added
For the periods ended September 30, 2025 and 2024
(In thousands of Brazilian Reais)

		Parent		Consolidated
	Note	09/30/2025	09/30/2024	09/30/2025	09/30/2024
Revenues
Gross revenue from sales and services, except rents and royalties	21	‐	‐	108,042,397	102,028,684
Rebates, discounts and returns	21	‐	‐	(765,919)	(836,236)
Allowance for expected credit losses	5	‐	‐	(18,794)	(32,802)
Amortization of contractual assets with customers - exclusivity rights	10; 21	‐	‐	(339,336)	(402,804)
Gain (loss) on disposal of assets and other operating income (expenses), net		51,768	26,976	521,065	(232,045)
		51,768	26,976	107,439,413	100,524,797

Materials purchased from third parties
Cost of products and services sold		‐	‐	(97,620,893)	(91,744,783)
Materials, energy, third-party services and others		175,782	150,242	(1,290,680)	(1,345,238)
Provision for assets losses		‐	‐	6,034	498
		175,782	150,242	(98,905,539)	(93,089,523)

Gross value added		227,550	177,218	8,533,874	7,435,274

Retentions
Depreciation and amortization of intangible assets and right-of-use assets	12.a; 13; 14	(13,387)	(13,816)	(1,150,419)	(903,963)
		(13,387)	(13,816)	(1,150,419)	(903,963)

Net value added produced by the Company		214,163	163,402	7,383,455	6,531,311

Value added received in transfer
Total share of profit (loss) of subsidiaries, joint ventures and associates	11	2,113,930	1,508,446	(25,829)	(9,059)
Rents and royalties	21	‐	‐	101,295	236,807
Financial income	23	40,484	48,291	1,194,702	661,588
		2,154,414	1,556,737	1,270,168	889,336

Value added from continuing operations available for distribution		2,368,577	1,720,139	8,653,623	7,420,647

Value added from discontinued operations available for distribution		(12,929)	‐	(3,530)	‐

Total value added available for distribution		2,355,648	1,720,139	8,650,093	7,420,647

Distribution of value added
Personnel and related charges
Salaries and wages		150,083	123,122	1,297,695	1,105,759
Benefits		21,227	19,398	380,693	338,353
Government Severance Indemnity Fund for Employees (FGTS)		6,327	5,371	80,154	78,153
Others		2,913	5,986	87,888	185,759
		180,550	153,877	1,846,430	1,708,024

Taxes, fees and contributions
Federal		21,464	25,291	2,118,661	2,268,280
State		‐	‐	393,250	388,155
Municipal		294	277	162,024	117,874
		21,758	25,568	2,673,935	2,774,309

Financial expenses and rents
Interest, foreign exchange variations and financial instruments		1,663	(116)	1,611,512	1,145,702
Rents		3,890	3,624	104,392	83,424
Others		17,389	16,215	107,743	64,107
		22,942	19,723	1,823,647	1,293,233

Remuneration of own capital
Interest on capital and dividends		‐	275,971	380,097	381,561
Retained earnings		2,143,327	1,245,000	1,929,514	1,263,520
		2,143,327	1,520,971	2,309,611	1,645,081

Value added from continuing operations distributed		2,368,577	1,720,139	8,653,623	7,420,647

Value added from discontinued operations distributed		(12,929)	‐	(3,530)	‐

Value added distributed		2,355,648	1,720,139	8,650,093	7,420,647

The accompanying notes are an integral part of the interim financial information.

Table of Contents

Ultrapar Participações S.A. and Subsidiaries

Notes to the interim financial information

For the periods ended September 30, 2025

1. Operations

Ultrapar Participações S.A. (“Ultrapar” or “Company”) is a publicly-traded company headquartered at the Brigadeiro Luís Antônio Avenue, 1343 in the city of São Paulo – SP, Brazil, listed on B3 S.A. – Brasil, Bolsa, Balcão (“B3”), in the Novo Mercado listing segment under the ticker “UGPA3” and on the New York Stock Exchange (“NYSE”) in the form of level III American Depositary Receipts (“ADRs”) under the ticker “UGP”.

The Company engages in the investment of its own capital in services, commercial and industrial activities, through the subscription or acquisition of shares of other companies. Through its subsidiaries, it operates on liquefied petroleum gas distribution and other energies (“Ultragaz”), fuel distribution and related businesses (“Ipiranga” or “IPP”), storage services for liquid bulk (“Ultracargo”) and logistics and waterway and multimodal infrastructure (“Hidrovias”). The information on segments is disclosed in Note 25.

This interim financial information was authorized for issuance by the Board of Directors on November 12, 2025.

a. Principles of consolidation and interest in subsidiaries

a.1 Principles of consolidation

In the preparation of the consolidated interim financial information the investments of one company in another, balances of asset and liability accounts, revenue transactions, costs and expenses were eliminated, as well as the effects of transactions conducted between the companies. Non-controlling interests in subsidiaries are presented within consolidated equity and net income.

Consolidation of a subsidiary begins when the Company obtains direct or indirect control over an entity and ceases when the company loses control. Income and expenses of a subsidiary acquired are included in the consolidated statements of income and of comprehensive income from the date the Company gains control. Income and expenses of a subsidiary, in which the Company loses control, are included in the consolidated statements of income and of comprehensive income until the date the Company loses control.

When necessary, adjustments are made to the financial information of subsidiaries to bring their accounting policies into line with the Company’s accounting policies.

Table of Contents

Ultrapar Participações S.A. and Subsidiaries

Notes to the interim financial information

For the periods ended September 30, 2025

a.2 Interest in subsidiaries

The consolidated interim financial information includes the following direct and indirect subsidiaries:

			Interest % rounded
			09/30/2025		12/31/2024
			Control		Control
	Location	Segment	Direct	Indirect	Direct	Indirect
Ultra Mobilidade S.A. (1)	Brazil	Ipiranga	100	-	100	-
Centro de Conveniências Millennium Ltda. and subsidiaries (2)	Brazil	Ipiranga	-	-	-	100
am/pm Comestíveis Ltda. (3)	Brazil	Ipiranga	-	100	-	-
Glazed Brasil S.A. (“Krispy Kreme”)	Brazil	Ipiranga	-	55	-	-
Centro de Conveniências Millennium Ltda. and subsidiaries (2)	Brazil	Ipiranga	-	100	-	-
Neodiesel Ltda.	Brazil	Ipiranga	-	100	-	100
Serra Diesel Transportador Revendedor Retalhista Ltda.	Brazil	Ipiranga	-	60	-	60
Neoagro Diesel Ltda. (4)	Brazil	Ipiranga	-	100	-	-
Mi TRR Transportadora Retalhista e Revendedora de Combustíveis S.A. (5)	Brazil	Ipiranga	-	51	-	-
Ipiranga Produtos de Petróleo S.A.	Brazil	Ipiranga	-	100	-	100
am/pm Comestíveis Ltda. (3)	Brazil	Ipiranga	-	-	-	100
Glazed Brasil S.A. (“Krispy Kreme”)	Brazil	Ipiranga	-	-	-	55
Ipiranga Trading Limited	British Virgin Islands	Ipiranga	-	100	-	100
Ipiranga Imobiliária Ltda.	Brazil	Ipiranga	-	100	-	100
Ipiranga Logística Ltda.	Brazil	Ipiranga	-	100	-	100
Oil Trading Importadora e Exportadora Ltda.	Brazil	Ipiranga	-	100	-	100
Iconic Lubrificantes S.A.	Brazil	Ipiranga	-	56	-	56
Integra Frotas Ltda.	Brazil	Ipiranga	-	100	-	100
Irupé Biocombustíveis Ltda.	Brazil	Ipiranga	-	100	-	100
Ipiranga Trading North America LLC.	United States	Ipiranga	-	100	-	100
Ipiranga Trading Middle East DMCC	Dubai	Ipiranga	-	100	-	100
Ipiranga Trading Europe S.A.	Switzerland	Ipiranga	-	100	-	100
Eaí Clube Automobilista S.A.	Brazil	Ipiranga	-	100	-	100
Abastece Aí Participações S.A.	Brazil	Ipiranga	-	100	-	100
Abastece Aí Clube Automobilista Instituição de Pagamento Ltda.	Brazil	Ipiranga	-	100	-	100
Companhia Ultragaz S.A.	Brazil	Ultragaz	99	-	99	-
Ultragaz Energia Ltda. and subsidiaries	Brazil	Ultragaz	-	100	-	100
Nova Paraná Distribuidora de Gás Ltda.	Brazil	Ultragaz

ULTRAPAR HOLDINGS INC 6-K