Action | 28 Jun 2026 21:30:00 ET │ 16 pages COSAN (CSAN3.SA) Renewing Coverage with Neutral/High Risk CITI'S TAKE We are renewing coverage of Cosan with Neutral/High-Risk, factoring our recent coverage initiation on Compass, the sale of c.10% stake in Rumo, updated macroeconomic/ commodities estimates, and our view on Moove/holding investment thesis. In recent past, Cosan has advanced in its strategy to reduce leverage through stake sales across its businesses while investor concerns around potential capita ...