SCHEDULE: Pitango Funds Disclose 6.8% Stake in Via Transportation

Pitango Reporting Persons, a group of investment funds, have jointly disclosed a 6.8% beneficial ownership stake in Via Transportation Inc.'s Class A common stock.

Summary

• Pitango Reporting Persons, comprising 12 investment entities, filed a Schedule 13G for Via Transportation Inc.
• The group collectively beneficially owns 5,132,117 shares of Via Transportation Inc.'s Class A Common Stock.
• This ownership represents 6.8% of the outstanding Class A Common Stock.
• Due to Via Transportation Inc.'s dual-class share structure, where Class B shares carry 10 votes each, the Pitango Reporting Persons' aggregate voting power is approximately 4.5% of the total voting power.
• The filing date was October 26, 2025, with the event requiring the filing occurring on September 30, 2025.
• The Pitango Reporting Persons are organized in the Cayman Islands and have their principal business office in Tel-Aviv-Yafo, Israel.

Sentiment

Score: 5

Explanation: This is a routine regulatory disclosure of beneficial ownership, providing factual information without inherently positive or negative operational news. The dual-class structure is a known characteristic of the issuer.

Positives

• Disclosure of a significant stake by a group of investment funds indicates continued investor interest in Via Transportation Inc.

Negatives

• The dual-class share structure significantly dilutes the voting power of Class A common stock holders, including the Pitango Reporting Persons, relative to their equity ownership percentage; a 6.8% equity stake translates to only 4.5% of total voting power.

Risks

• Dual-Class Share Structure: The existence of Class B common stock with 10 votes per share, compared to Class A common stock with one vote per share, concentrates voting control and may limit the influence of Class A shareholders on corporate governance decisions.
• Potential Divergence of Interests: The interests of holders of high-vote Class B shares may not always align with those of Class A shareholders, potentially leading to governance conflicts.

Future Outlook

Not applicable; this filing is a historical disclosure of ownership and does not contain forward-looking statements or guidance.

Management Comments

• Eyal Klein (CFO) and Nechemia Peres (Managing Director) signed the filing on behalf of the Pitango entities, certifying the information.

Industry Context

This filing reflects a standard disclosure requirement for institutional investors acquiring significant stakes in publicly traded companies. The dual-class share structure is common in technology and growth-oriented companies, often used to maintain founder or early investor control post-IPO.

Comparison to Industry Standards

• The dual-class share structure of Via Transportation Inc., where Class B shares carry 10 votes compared to Class A's single vote, is a common feature in many tech companies, such as Google (Alphabet Inc. with Class A, B, and C shares) and Meta Platforms (Class A and B shares).
• This structure allows founders and early investors to retain significant control despite owning a smaller percentage of the total equity, which can be seen as a deviation from the 'one share, one vote' principle often favored by corporate governance advocates.
• The Pitango Reporting Persons' 6.8% equity stake translating to 4.5% voting power highlights this dilution of influence for Class A shareholders, a characteristic shared with other companies employing similar governance models.

Corporate Governance

Stakeholder Impact

• Shareholders: Holders of Class A common stock, including the Pitango Reporting Persons, have their voting power diluted by the existence of Class B common stock, which carries significantly more votes per share. This means their influence on corporate decisions is less than their equity ownership percentage suggests.

Key Dates

Keywords

Via Transportation Inc., Schedule 13G, beneficial ownership, Class A common stock, Pitango, investment funds, voting power, equity stake, SEC filing, corporate governance