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ALPARGATAS PESSOAS INSPIRADOS ADOS PELA PESSOAS 2Q26 EARNINGS VIDEOCONFERENCE
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DISCLAIMER 2 This presentation includes forward-looking statements or statements about events or circumstances that have not occurred. Alpargatas has based these forward-looking statements largely on its current expectations and projections about future events and financial trends affecting the business and its future financial performance. These forward-looking statements are subject to risks. uncertainties and assumptions. including. among other things: general economic. political and business conditions. in Brazil and in other markets where the Company is present. The words believes. may. will. estimates. continues. anticipates. intends. expects and similar words are intended to identify forward-looking statements. Alpargatas undertakes no obligations to update publicly or revise any forward-looking statements because of new information. future events or other factors. In light of these risks and uncertainties. the forward-looking events and circumstances discussed on this conference call might not occur. The Company’s actual results could differ substantially from those anticipated in the forward- looking statements.
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ALPARGATAS – 2Q26 KEY INDICATORS’ PERFORMANCE BRAZIL GROWTH MODEL ▪ Win in the Specialized channel ▪ Accelerate the expansion of Grocery Modern Trade ▪ Mitigate the decline of Grocery Traditional Trade ▪ Consistent improvement in service levels (OTIF) at 83.5% supporting sell-out growth in DTC (+17%) and specialized channel (+5%). ▪ Market share gains across all channels, with Grocery reaching 80%, up 2.1 p.p. versus June 2025. INTERNATIONAL GROWTH MODEL ▪ Europe: Accelerate growth and increase awareness in priority markets ▪ US: Monitor the evolution of the new business model and support growth ▪ IDM: Prioritize “Accelerate” countries and grow with healthy inventory levels ▪ Europe: Strong performance during the peak seasonal period – sell-in up 21%. ▪ US: Changes in seasonality driven by the new distribution operation, alongside an encouraging pace of door openings and sell-in totaling +40% YoY on 1H26. ▪ IDM: Volume recovery with +12% sell-in driven by LATAM and Asia. MARKETING & PORTFOLIO ▪ Continue the rollout of new usage occasions (“From the beaches to the cities”) ▪ Deploy the Global Calendar ▪ Key quarter for marketing, following the Global calendar, with brand engagement initiatives over FIFA’s Soccer World Cup, both in Brazil, and internationally. ▪ Sustained growth in underpenetrated category led by kids with sell-in +29% YoY. CAPITAL ALLOCATION ▪ Maintain Capex discipline and alignment with volume evolution ▪ Sustain SG&A discipline ▪ Release cash from the Company’s Working Capital and expand cash generation ▪ Improve ROIC (Return on Invested Capital) ▪ Operational leverage gains – operating expenses reduced by 1.3% YoY ▪ Healthy inventory- composition, with well-established commercial policies supported by improved service levels and effective S&OP. ▪ ROIC reached 18% continuing its consistent improvement since 2023. 2026 PRIORITIES 2Q26 KEY INDICATORS
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HAVAIANAS TOTAL 53.3 M Pairs + 9 % R$ 1,215 M +11% HAVAIANAS – VOLUME AND NET SALES – 2Q26 vs. 2Q25 4 BRAZIL 45.6 M Pairs +9% R$ 809 M +17% EUROPE 4 .4 M Pairs +21% R$ 309 M + 21 % IDM¹ 2.8 M Pairs + 12% R$ 75 M +2 % USA 0 .6 M Pairs - 30 % R$ 22 M - 67 % 1. IDM = International Distributors Market. composed of all countries served indirectly through distributors in LatAm (ex-Brazil). Africa. Asia. Middle East and Oceania
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HAVAIANAS TOTAL 11 5 M Pairs + 9 % R$ 2,432 M +12% HAVAIANAS – VOLUME AND NET SALES – 1H26 vs. 1H25 5 BRAZIL 100 M Pairs +8% R$ 1,718 M +15% EUROPE 7 .9 M Pairs + 20 % R$ 512 M +18% IDM¹ 4 .7 M Pairs - 2 % R$ 128 M - 5 % USA 1.8 M Pairs + 40 % R$ 73 M - 33 % 1. IDM = International Distributors Market. composed of all countries served indirectly through distributors in LatAm (ex-Brazil). Africa. Asia. Middle East and Oceania
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1,5 2,3 2,72,6 1,1 0,4 -0,2 -0,3 -0,6 -0,3 -0,6 0,8 0,5 0,5 ALPARGATAS – CASH DISCIPLINE 6 LEVERAGE OF 0.5x (vs. -0.3x in 2Q25) CASH GENERATION LTM R$ 463M +R$ 74M (vs. -R$ 37M in 2Q25) FREE CASH FLOW TO EQUITY LEVERAGE (R$ million) -310 -3 72 240 216 94 135 12 112 -37 181 1 207 74 NET DEBT / EBITDA LTM
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-168 134 102 182 112 19 73 42 -48 -103 -6 -112 -78 -47 146 113 103 111 WK Var Cash Cycle (Days of NS) ALPARGATAS – CASH DISCIPLINE CAPEXWORKING CAPITAL VARIATION Variation of -R$ 47M (vs. -R$ 103M in 2Q25) (R$ million) (R$ million) Capex of R$ 54M (vs. R$ 55M in 2Q25) 114 96 65 57 15 20 47 77 27 55 56 84 28 54 7
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HAVAIANAS BRAZIL – 2Q26 vs. 2Q25 8 BRAZIL 46,9 46,0 37,1 44,2 42,0 45,6 11,1 13,4 14,5 14,8 16,5 17,8 520 617 539 655 694 809 2Q21 2Q22 2Q23 2Q24 2Q25 2Q26 Volume of Pairs Sold (millions) Net Sales NS / Pair +9% VOLUME +17% NET SALES +7% NS/ PAIR +13% SELL-OUT -2.6M 2Q26 SELL-IN VS. SELL-OUT VARIATION +2.4M LTM SELL-IN VS. SELL-OUT VARIATION LTM JUN262Q26 (R$ million) (Volume of pairs) Sell-in Sell-out Sell-in LTM Sell-out LTM
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HAVAIANAS BRAZIL 9 199 248 148 256 317 387 4,2 5,4 4,0 5,8 7,5 8,5 38% 40% 28% 39% 46% 48% 2Q21 2Q22 2Q23 2Q24 2Q25 2Q26 Gross Profit Gross Margin (%) +13% GROSS PROFIT/PAIR +22% GROSS PROFIT +2pp GROSS MARGIN Gross Profit / Pair GROSS PROFIT AND GROSS MARGIN (R$ million)
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HAVAIANAS BRAZIL 10 1,2 2,0 -0,1 1,7 3,3 3,6 57 93 -5 73 138 166 11% 15% -1% 11% 20% 20% 2Q21 2Q22 2Q23 2Q24 2Q25 2Q26 EBITDA / Pair EBITDA EBITDA Margin EBITDA AND EBITDA MARGIN +20% EBITDA +0.6pp EBITDA MARGIN +10% EBITDA/PAIR SG&A excludes bonus, D&A and IFRS16 SG&A +3pp MARKETING % NS +1pp VARIABLE EXPENSES % NS +16% FIXED EXPENSES 88 122 89 94 89 102 8% 8% 10% 9% 7% 10% 7% 6% 10% 8% 7% 8% 2Q21 2Q22 2Q23 2Q24 2Q25 2Q26 Fixed Exp. (Inflation Adj.) Marketing %NS Variable Exp. %NS (R$ million) (R$ million) 8% MARKETING LTM % NS
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HAVAIANAS INTERNATIONAL – 2Q26 vs. 2Q25 11 +21% VOLUME +21% NET SALES EUROPE +12% VOLUME +2% NET SALES IDM -30% VOLUME -67% NET SALES USA INTERNATIONAL -0% NS/PAIR -9% NS/PAIR -53% NS/PAIR +12% VOLUME +2% NET SALES -9% NS/PAIR +15% NET SALES* (*) Constant currency. 4,8 5,0 4,2 3,4 3,6 4,4 1,1 0,7 0,6 0,6 0,8 0,6 5,3 4,9 3,0 3,6 2,5 2,8 11,2 10,6 7,8 7,6 6,9 7,7 516 433 380 351 397 406 2Q21 2Q22 2Q23 2Q24 2Q25 2Q26 Volume Europe Volume USA Volume IDM Net Sales (R$ million) +12% NS/PAIR* +2% NS/PAIR* -47% NS/PAIR* +3% NS/PAIR*
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GROSS PROFIT AND GROSS MARGIN HAVAIANAS INTERNATIONAL -4% GROSS PROFIT/PAIR +7% GROSS PROFIT +3pp GROSS MARGIN 378 303 230 218 276 296 33,6 28,5 29,5 28,6 40,1 38,4 73% 70% 61% 62% 70% 73% 2Q21 2Q22 2Q23 2Q24 2Q25 2Q26 Gross Profit Gross Margin (%) Gross Profit/Pair 12 (R$ million)
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HAVAIANAS INTERNATIONAL 155 85 12 -4 57 117 13,8 8,0 1,5 -0,5 8,3 15,3 30% 20% 3% -1% 14% 29% 2Q21 2Q22 2Q23 2Q24 2Q25 2Q26 EBITDA EBITDA / Pair EBITDA Margin EBITDA AND EBITDA MARGIN +105% EBITDA +15pp EBITDA MARGIN +83% EBITDA/PAIR 13 SG&A -3pp MARKETING % NS -5pp VARIABLE EXPENSES % NS -24% FIXED EXPENSES 101 86 91 81 81 61 15% 20% 24% 20% 20% 15% 12% 13% 14% 21% 17% 14% 2Q21 2Q22 2Q23 2Q24 2Q25 2Q26 Fixed Exp. (Inflation Adj.) Var. Exp. (% NS) Marketing (% NS) (R$ million) (R$ million) 11% MARKETING LTM % NS SG&A excludes bonus, D&A and IFRS16
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-28 -20 -16 -9 -2 4 10 18 20 21 22 18 15 14 -15% -11% -9% -5% -1% 2% 5% 8% 10% 11% 13% 11% 5% 5% -60,0 -50,0 -40,0 -30,0 -20,0 -10,0 0,0 10,0 20,0 30,0 -20,0% -15,0% -10,0% -5,0% 0,0% 5,0% 10,0% 15,0% ROTHY’S NET SALES USD 61M (-3% vs. 2Q25) EBITDA USD 6.5M (-17% vs. 2Q25) 14 NET PROFIT USD 2.9M (-52% vs. 2Q25) Net Sales • Negative impact driven by e-commerce and weaker same store sales performance in retail. Gross Margin • Positive margin impact driven by tariff refunds (+4.9 p.p.) and a higher penetration of full-price sales. 17 33 19 39 21 38 25 52 27 39 28 47 26 41 55% 62% 63% 59% 62% 65% 63% 67% 62% 61% 62% 62% 56% 67% 0,0 10,0 20,0 30,0 40,0 50,0 60,0 70,0 80,0 0% 10% 20% 30% 40% 50% 60% 70% 80% SG&A • Retail Opex increased mainly due to store expansion (39 vs. 29 LY) and higher fixed costs, primarily related to personnel expenses. Net Profit • Positive result in the quarter despite negative YoY performance. GROSS PROFIT AND GROSS MARGIN EVOLUTION (USD million and %NS) EBITDA AND EBITDA MARGIN LTM EVOLUTION (USD million and %NS)
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ALPARGATAS – CONSOLIDATED FINANCIAL HIGHLIGHTS 15 (million pairs) 2Q26 2Q25 2Q26 vs. 2Q25 1H26 1H25 1H26 vs. 1H25 Volume 53.3 48.8 9.0% 114.7 105.6 +8.7% Brazil 45.6 42.0 +8.6% 100.4 92.9 +8.1% International 7.7 6.9 11.9% 14.3 12.7 13.2% Europe 4.4 3.6 +20.9% 7.9 6.6 +19.6% USA 0.6 0.8 -30.0% 1.8 1.2 +40.2% IDM 2.8 2.5 +12.1% 4.7 4.8 -2.3% (R$ million) 2Q26 2Q25 2Q26 vs. 2Q25 1H26 1H25 1H26 vs. 1H25 (=) Net Sales 1,226.4 1,101.4 +11.3% 2,455.8 2,193.8 +11.9% Havaianas Net Sales 1,215.0 1,090.3 +11.4% 2,431.7 2,172.2 +11.9% Other Net Sales 11.3 11.0 +2.5% 24.1 21.7 +11.4% (-) COGS (535.5) (498.6) +7.4% (1,118.1) (1,030.6) +8.5% Havaianas COGS (532.2) (497.4) +7.0% (1,145.0) (1,026.7) +11.5% Other COGS (3.3) (1.2) +185.1% 26.9 (3.9) -791.4% (=) Gross Profit 690.8 602.8 +14.6% 1,337.7 1,163.3 +15.0% Havaianas Gross Profit 682.9 592.9 +15.2% 1,286.7 1,145.5 +12.3% Other Gross Profit 8.0 9.9 -19.1% 51.0 17.8 +186.9% Gross Margin (%) 56.3% 54.7% +1.6pp 54.5% 53.0% +1.4pp Havaianas Gross Margin (%) 56.2% 54.4% +1.8pp 52.9% 52.7% +0.2pp Other Gross Margin (%) 70.5% 89.4% -18.9pp 211.4% 82.1% +129.3pp (=) EBITDA 269.1 174.7 +54.1% 555.4 369.0 +50.5% Havaianas EBITDA 283.1 195.4 +44.9% 546.5 402.3 +35.9% Other EBITDA (14.1) (20.8) -32.2% 8.8 (33.3) -126.5% EBITDA Margin (%) 21.9% 15.9% +6.1pp 22.6% 16.8% +5.8pp Havaianas EBITDA Margin (%) 23.3% 17.9% +5.4pp 22.5% 18.5% +4.0pp Other EBITDA Margin (%) -124.4% -188.3% +63.9pp 36.5% -153.6% +190.2pp (+) Extraordinary Items 16.9 17.9 -5.7% 30.2 29.6 +1.9% (=) Adjusted EBITDA 286.0 192.6 +48.5% 585.5 398.6 +46.9% Adjusted EBITDA Margin (%) 23.3% 17.5% +5.8pp 23.8% 18.2% +5.7pp (=) Net Income 169.7 87.0 +95.1% 332.5 199.4 +66.8% Net Margin (%) 13.8% 7.9% +5.9pp 13.5% 9.1% +4.5pp
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INVESTOR RELATIONS TEAM ri@alpargatas.com