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1 Legal Disclaimer The following material is a presentation prepared by C&A Modas S.A. (“Company”) and may include statements that represent expectations about future events or results. The information contained in this presentation reflects only the expectations of the Company's management and was prepared based on assumptions and information currently available. Forward - looking statements depend substantially on market conditions, government regulations, the Company's performance, the industry and the Brazilian economy, among other risk factors included in the Company's Reference Form. Operating data may affect the Company's future performance and may lead to results that differ materially from those expressed in such forward - looking statements. Additional unaudited information or information not reviewed by auditors contained herein reflects the Company's management's interpretation of information from its annual and quarterly financial statements and their respective adjustments, which were prepared in accordance with market practices and solely for the purpose of a more detailed and specific analysis of the Company's results. Accordingly, such considerations and additional data must also be analyzed and interpreted independently by shareholders and market agents, who should make their own analyses and conclusions about the information disclosed herein. No data or interpretive analysis performed by the Company's management should be treated as a guarantee of performance or future results and are merely illustrative of the view of the Company's management regarding its results. always together with the Company's annual and quarterly financial statements and other documents and information made available by the Company, considering this presentation for informational purposes only.
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4 From transformation to the next cycle of Value Creation Proven execution Key deliverables and learnings from the Energia strategy over the last 3 years A stronger platform Assets and capabilities that set us apart and will continue to sustain value creation Next growth cycle Growth levers and value creation in the new 2027 - 2030 cycle 1 2 3
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5 Agenda 9:05 9:15 09:40 09:55 10:15 10:50 11:05 50 years of C&A: ready for the next growth cycle Marcos Grasso Chairman of the Board Proven execution of Energia and new 2027 - 30 strategic cycle Paulo Correa CEO The strength of our brand as a growth engine Cecília Alexandre CMO A more relevant product platform for the customer João Souza VP Commercial Omnichannel : Energia Store, Dispersion , Expansion and Digital integration Fernando Brossi VP Operations Relationship as a business enhancer Filipe Matzembacher Financial Products Director ACE: A standalone brand Filipe Albuquerque New Business Director
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6 Agenda 11:20 11:30 11:45 12:00 12:15 12:25 Coffee Break Technology and AI for a smarter, more capital - efficient model Bruno Ferreira CTO A more regional, agile and efficient logistics network Hussein Rodrigues Supply Chain Director A culture that turns ambition into results Carolina Borghesi VP People, Culture and ESG Profitable growth with capital discipline Laurence Gomes VP Finance and IR Closing Remarks Paulo Correa CEO Q&A 12:30
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7 Marcos Grasso Chairman of the Board Ready for the next growth cycle 7
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8 8 185 YEARS Sneek , Netherlands, 1841 Clemens and August Brenninkmeijer
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9 Proven execution of Energia and new 2027 - 30 strategic cycle Paulo Correa CEO, 20 years at C&A 9
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10 Constant Evolution, the same Purpose Impacting people so that they can be whatever they want to be through fashion 2019 2024 A new sustainable development curve 2026 Fashion Tech IPO Time Revenue growth 2030 New cycle 2027 - 30 Energia
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11 focus Significant growth in apparel sales/m 2 Ambition for the 2024 - 26 Energia Cycle increase regain Annual customer spending Push & Pull C&A Pay penetration New openings Renovation of existing stores New store model 2024 11
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12 2024 - 2026 Goals , Results , and Learnings Target Result Frequency Increase by 20% Growth Increase the pace of growth Productivity Increase sales per m2 Brand Be Brazil's most loved fashion brand Product Expand categories beyond womenswear New store model Launch Energia Store Supply Strengthen the supply chain C&A Pay penetration Reach 35% penetration Theme 14% growth 28% penetration Energia
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13 Consistent Execution of the Energia Cycle Energia has accelerated our growth #1 Growth in fashion retail 2023 - LTM 2Q26 , apparel +30.5 % A pparel Net R evenue total growth 2023 - LTM 2Q26 5.552 6.463 7.060 2023 2024 2025 7.244 LTM 2T26 6.719 7.637 7.983 8.014 +19% Apparel Others Total Net Revenue (R$ million)
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14 Note: Excludes stores opened between 2024 and 2026. Net Merchandise Revenue per m 2 (R$ thousand/m 2 ) Consistent Execution of the Energia Cycle We increased our productivity +29.4 % Apparel net revenue per m 2 2023 - LTM 2Q26 8,9 10,5 11,4 2023 2024 2025 LTM 2T26 10,2 11,6 12,3 12,3 11,5 +21% Apparel Others
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15 Consistent Execution of the Energia Cycle We grew with higher profitability #20 Consecutive quarters of apparel gross margin expansion +1.5 pp Merchandise gross margin 2023 - LTM 2Q26 +34.7% pp Apparel gross profit per m 2 2023 - LTM 2Q26 4,9 5,9 6,4 2023 2024 2025 LTM 2T26 5,2 6,2 6,8 6,9 6,6 +30% Others Apparel Merchandise Gross Profit per m 2 ( R $ thousand /m 2 )
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16 Energia improved our key financial indicators between 2023 and 2Q26 LTM 1.5x → 0.2x Leverage reduction +76% Adjusted EBITDA +4.7 pp Merchandise gross margin 19% Net revenue 16
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17 Important Advances across all strategic pillars drove C&A's transformation under Energia Products & Categories +35 - 45% growth in core categories and + 8 0 % in complementary categories + 1 . 5 pp apparel gross margin +1,900 area renovations +4pp product quality NPS Electronics discontinued Omnichannel Journeys 2 Launch of Energia Store +16 new stores +32 renovated stores +100 Dispersion stores New Site & App +4pp share of Digital Brand & Relationship +13pps NPS #1 in brand awareness and consideration 2 New CRM model C&A Pay +6pp penetration 2 Break even Delinquency under control Technology Commercial Intelligence Hub AI in decision - making Data structuring RFID Hyper - personalization THE CUSTOMER IS EVERYTHING People, Culture & ESG Financial strength 1 Strengthened leadership and succession Meritocracy performance Reinforced cultural rituals Product circularity +19% Revenue +4.7pp Merchandise gross margin +15pp ROIC +76% Adjusted EBITDA 1. Data refers to the period from January 2024 to 2025. 2. Data refers to the period from January 2024 to 2Q26.
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18 Energia Drivers: Category Improvement Electronics discontinued, with no friction for customers and maintaining growth Swap from Electronics to Beauty Net Revenue in R$ million ~R$ 650M 2023 2024 2025 2026 Eletronics Beauty Category renovation to improve product display +1,900 Product area improvements
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19 Energia Drivers: New concept and Private Label C&A Pay reached 28% share, closing our Private Label gap C&A Pay share % of sales Launch of the Energia Store model and restart of a robust renovation program +16 New stores 28 % 2021 2022 2023 2024 2025 2026 +32 Renovated stores 1 Note: Data refers to the period from January 2024 to 2Q26.
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20 Strengthening of our Leadership Experienced leaders and leadership renewal , blending career C&A executives and market experts Fernando Brossi VP Operations and Financial Services 20 years at C&A Bruno Ferreira Technology Director 14 years at C&A João Souza Chief Commercial Officer 15 years at C&A (C&A Trainee 2011) Cecília Preto Marketing Director 1 year at C&A Formerly Heineken, KraftHeinz, BRF Laurence Gomes VP CFO and IR 3 years at C&A Formerly Renner, WEG, SLC Agricola Filipe Albuquerque New Business Director 1 year at C&A Formerly Hering, C&A(C&A Trainee 2011) Carol Borghesi VP People, Culture and ESG 3 years at C&A Formerly Carrefour, Tok&Stok, Dafiti Thiago Amorim Head of Strategic Planning 3 years at C&A Formerly Boston Consulting Group Paulo Correa CEO C&A Brazil 20 years at C&A
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21 Well - established KPIs Consistent governance Investment discipline Agile execution Strengthening of the management model +30 simultaneous projects as part of Energia with the creation of the Transformation Office
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22 We have made progress, but there's still much to be captured 22
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23 We are in a new scenario , with greater complexity Greater competition for the customer's wallet, with less disposable income for apparel and growing competition from traditional and cross - border players Technological revolution and greater use of AI, with a search for frictionless journeys, including Agentic Commerce A more omnichannel customer, who seeks the store as an experience and not just a place to shop Shift in supply dynamics, with greater competitiveness from imports and environmental concerns Shift in the labor market, with reduced working hours and greater competition for talent 23
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24 We are ready to accelerate value capture and develop new growth paths Proven execution of Energia has transformed us and made us stronger 24
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26 New strategic cycle Begins with greater execution and investment capacity and room for new growth levers Store renovation and new openings Development of new businesses Development of new financial products Digital ~R$ 3 Bn Cash generated by the Energia cycle
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27 FULL POWER Enhancing Energia's Vectors and New Growth Levers Growth levers Enablers Product Omnichannel Journey Relationship Store Expansion New Businesses Brand Technology Logistics and Supply People and ESG
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28 Our Ambitions for the 2027 - 30 Cycle Growth levers Enablers Product Share gain in all categories +Speed +Quality +Assertiveness Omnichannel Journey Increased productivity 100 - 120 Energia Store renovations 60 - 80 Dispersion stores 15% omnichannel sales 3x more omni customers Relationship More frequency, spending and base Hyper - personalization Loyalty C&A Pay and testing of other products Store Expansion 60 - 80 new C&A stores New Businesses ACE and complementary businesses Brand Technology Logistics and Supply People and ESG Competitive advantage +Productivity +Intelligence +Return on capital Regionalization +Proximity +Speed +Investment efficiency New capabilities Strengthening culture Circularity
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29 Cecília Alexandre CMO, 1 year at C&A, +25 years of experience The strength of our brand as a growth engine 29
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30 Full Power Ambition Be the preferred and most beloved fashion brand among our customers S trengthen the relationship to generate more recurrence , engagement and value 30
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31 We have developed capabilities during the Energia cycle that enable us to achieve our ambition 31
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32 We have deepened our understanding of who she is and what she seeks Our customer is passionate about fashion and uses this universe to express herself and at the same time feel safe The fashion she consumes Trends, whatever is in right now The fashion she buys Basic, functional and “safe ” Versatility Repertoire DESIRE Income profile A - , B, C+ Average ticket of the category 12x purchase f requency per year (total market ) 62% shop online as much as in - store
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33 We know our customers deeply Every day, over 1 million customers choose to be at C&A +340 Stores Omni +19M Active customers 33
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34 Source: KANTAR, BHT, Customer Recognition, Q2 2026, +500 customers. (1) Question: Which of the brands below do you prefer? (2) Question: Considering the following brands, which would be your first choice? We are the first brand that comes to mind among target customers in the comparable segment Iconic Brand 50 years in Brazil 98 % Brand awareness #1 Brand in purchase consideration 2 Preferred brand Vs comparable players 1 34
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35 We increased our presence in everyday life and at major events 2024 Rock in Rio We will see you at C&A PatBo + C&A 2026 C&A at the Oscars TMNR Shakira 50 years of C&A Rock in Rio Fashion Editors 2025 TMNR Lady Gaga Box 1824 Survey. When you find the look, you feel it And it doesn't stop there!
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36 A portfolio that evolves with the customer 2024 2026 2025 And it doesn't stop there! BFF Collab Denim Week Rock in Rio PatBo Collab Denim Week C&A Stylists Peruvian Cotton 7 Years M7 Bloom Denim Week Todo Mundo no RIO Shakira Fashion Editors Mother's Day Valentine's Day
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37 Customers who hadn't shopped at C&A in recent years are returning to our customer base And we are winning new customers , who recognize the value and quality of C&A 37
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38 More customers, shopping more often Broader customer base More returning customers More purchases by returning customers +14 % Number of customers (2023 - 2025) +16% Number of returning customers (2023 - 2025) +7% Purchase frequency of returning customers (2023 - 2025)
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39 Source: C&A Internal NPS Survey (2023 to 2Q26) +13 points 2023 2024 2025 LTM 2T26 +13 points Customers are more satisfied across all shopping channels +17 points ~31% growth Digital +13 points ~20% growth Physical +7.6 points ~13% growth Omni
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40 By 2030, we want a brand with increasingly evident differentiators Reinforcing and bringing consistency to our signature WE FIND OURSELVES AT C&A C&A is where our customer finds the fashion that makes her feel good 40
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42 How We Will Achieve Our Ambition Clear message Intense communication plan Integrated funnel and channels / solutions considering the OMNI journey Everything is brand Customer at the center Reinforcement of the relationship strategy Consistency + Consistency and impact CRM Benefits / Loyalty Credit Relationship More customers Higher frequency Higher LTV
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43 Key Takeaways We want to be Brazil's preferred and most beloved fashion brand We have structured capabilities in Energia that bring us closer to our ambition We will amplify our presence and strengthen our connection with our customers There is still plenty of room to expand our customer base, grow spending and increase purchase frequency
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44 A more relevant product platform for the customer João Souza Vice President Commercial , 15 years at C&A(C&A trainee 2011) 44
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45 Full Power Ambition Develop collections that are increasingly relevant , versatile and current for our customers E xpand the use of technology in business decision - making 45
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46 The Energia cycle has driven growth in our main product categories, proving the strength of our commercial model +35% - 45 % Growth in core categories: Women's, Men's and Kids' We further advanced the relevance of key categories in our portfolio, such as Denim and Basics
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47 We exponentially expanded our relevance in complementary categories where we had the greatest opportunity to gain market share Beauty Intimates Sportswear +80% growth in complementary categories
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48 We positively evolved the value perceived by the customer during the Energia cycle Post - Use NPS 1 Perception that products fit well Perception of good durability of the items Perception of products’ good value for money 3T24 1T25 4T24 2T25 3T25 4T25 1T26 2T26 3T24 4T24 1T25 2T25 3T25 4T25 1T26 2T26 3T24 4T24 1T25 2T25 3T25 4T25 1T26 2T26 +7.1 points +9.1 points +8.7 points 1. NPS m easured 15 days after the purchase made in the physical store.
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49 This growth and improved perception of value reflect the evolution of our product platform + Inspiration Consistent implementation of new display models across all categories + Fashion Increased data - driven trend mapping and investment in internal product capabilities + Responsiveness Supply chain diversification , sou rcing the best products from various countries with a focus on perceived value and responsiveness + Accuracy Product performance is validated through a test - and - scale methodology grounded in customer insights
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50 + Inspiration Consistent implementation of new display models across all categories +1,900 Improvements in category areas Review of the purchase journey New equipment Improved Visual Merchandising Reinforced product assortment
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51 + Fashion Increased trend - mapping using data, and investment in internal product capabilities Analytics tools Marketing research Research hubs in 3 global cities Investment and diversification of product teams 51
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52 Brazil Peru Paraguay North America Asia Europe Africa South America China Bangladesh India + Responsiveness Diversified our supply chain, sourcing the best products in different countries, with value perception and responsiveness 52 Bold Peruvian Cotton +45% Of the women's collection with a production lead time of <60 days
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53 Analytics to map learnings via data Small - scale product testing Trend and assortment mapping Higher in - season volume for top - performing products + Assertiveness Product performance is validated through a test & scale methodology grounded in customer insights 60% Annual collection renewal +3,500 Products in the Test & Scale model
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54 The Full Power strategy consolidates the continuous evolution of our product platform Better ability to develop collections and improve display models will continue to increase the perceived added value of our products Energia Cycle Full Power Transformation Enhancement 54
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55 + Intelligence Use of technology in decision - making and business management Use of Artificial Intelligence in: Product development Assortment definition Price setting 55
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56 Artificial Intelligence in product development C&A was the first fashion retailer in Brazil with 100% of designers trained in AI Product development
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57 Assortment personalization by store group based on Dynamic Assortment Ability to analyze sales behavior by store group and turn data into personalized assortment guidelines , with scalable and efficient management powered by AI Assortment Definition 57
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58 Update of the dynamic pricing model using AI To boost profitability and reduce markdown Price Setting Pre - season Strategic Pricing In - season Dynamic Pricing End of season Markdown +4.7pp Merchandise Gross Margin (2023 - 25)
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59 Turning intelligence into desire Desire into product And product into growth So that every customer can be whatever she wants to be through fashion 59 Bold Peruvian Cotton
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60 Key Takeaways We achieved broad and consistent growth during the Energia cycle, making steady progress in our category assortments and the perceived value of our products Looking toward 2030, we will accelerate our growth avenues based on two strategic pillars: enhanced collection development and greater use of technology We will expand our transformation of product development by improving the customer journey, boosting our trend - mapping and collection - development capabilities, increasing supply chain responsiveness, and adopting a "Test & Learn" methodology. We will leverage technology to enhance our creative capacity and the accuracy of commercial decisions through AI - driven product development, dynamic assortment planning, and strategic pricing
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61 Omnichannel: Fernando Brossi Vice President Operations and Financial Services, 20 years at C&A Roni Magalhães E - commerce Director , 3 years at C&A, +25 years of experience Energia Store, Dispersion, Expansion and Digital integration 61
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62 An increasingly Omnichannel journey Physical Stores more digital and more integrated into the omnichannel journey Digital Channels more connected to physical stores
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63 Physical Stores Continue evolving consistently in the productivity of the current store base Accelerate the pace of geographic expansion , with potential for up to 100 new stores Intensify the C&A Essence, accelerating omnichannel adoption Full Power Ambition 63
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64 Physical Stores Continue evolving consistently in the productivity of the current store base Accelerate the pace of geographic expansion , with potential for up to 100 new stores Intensify the C&A Essence, accelerating omnichannel adoption Full Power Ambition 64
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65 Productivity gain in the Energia cycle driven by the Dispersion Program and acceleration of the store renovation program Growth in Apparel Net Revenue per m 2 (%, 2023 vs. 2025) Market Average C&A 20% 28%
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66 Market potential - sales per m 2 C&A - sales per m 2 (2023) Market potential - sales per m 2 C&A - sales per m 2 (2023) Dispersion Program
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67 Dispersion Program rolled out in +100 stores Store - by - store specific actions , aimed at fixing bottlenecks and gaps versus the market to increase productivity in a personalized way +34% Increase in sales/m 2 (vs. 2023) Potential to roll out Dispersion to +80 stores by 2030 Store Team Adjustments +115 stores Process Review +58 stores Layout Review +110 stores Assortment Improvement +105 stores
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68 2024: 7 Stores 2025: 23 Stores 2026e: >10 Stores Beyond Dispersion , we resumed the pace of renovations of the current store base Renovations of +32 stores in +15 states ( between December 202 3 and 2Q26) +28% Increase in sales /m2 ( 2023 - LTM 2Q26 )
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69 Listening to our customers, we learned that new journeys were gaining relevance, and therefore, a new shopping experience needed to be built Energia Store 69
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71 The new Energia Store concept was designed to respond to our customers' new expectations Significant changes were made to the shopping experience across five pillars: +15pp Increase in sales/m 2 (vs. control group, preliminary results) +15pts NPS of Energia Stores Visibility of collections Service model ( Essence ) Customer flow Omni Journey Integration ( associated App) Ease of use in service areas (fitting rooms and checkout)
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72 Main Productivity Driver Scale the Energia Store model Accelerate renovation of the current store base Other models Energia stores 2025 2026 2027 2028 2029 2030 Accelerated roll - out of the Energia Stores model Higher productivity ( sales /m 2 ) Better customer ratings (NPS) Integrated omnichannel experience
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73 Physical Stores Continue evolving consistently in the productivity of the current store base Accelerate the pace of geographic expansion , with potential for up to 100 new stores Intensify the C&A Essence , accelerating omnichannel adoption Full Power Ambition 73
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74 Source: Abrasce (Brazilian Association of Shopping Centers) and FGV IBRE (Online Sales Indicator) Expansion focused on shopping malls, which play a central role in Brazilian retail culture They bring resilience to domestic fashion retail, an advantage over cross - border players Segment with +650 shopping malls , revenue over R$ 200 Bn in 2025 +470M visitors/month Part of Brazil's consumption culture, serving both as a shopping and entertainment destination Physical stores account for +80% of retail sales
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75 New capabilities have increased our assertiveness in sales and in the returns of new stores +31% Sales above the business case (stores with +12 months ) +13pp Real IRR above the business case (stores with +12 months ) 16 New stores (2024 - 2Q26) 75
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76 Store Network Expansion We will continue growing our geographic coverage 80% of stores in markets without C&A presence New malls and recovery of sites Cities of up to 500k inhabitants Southeast, South and Midwest Special projects & iconic stores +100 sites with potential to open a new C&A store
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77 Physical Stores Continue evolving consistently in the productivity of the current store base Accelerate the pace of geographic expansion , with potential for up to 100 new stores Intensify the C&A Essence , accelerating omnichannel adoption Full Power Ambition 77
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78 Service Model Connects Satisfies Demonstrates immediate connection “I see you and I hear you” Solves Demonstrates vitality and emotional availability “I'm bringing the best solution” Demonstrates future connection "I'll be here for you" Essence
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79 C&A Essence is already showing results from this evolution W e still have great opportunity to grow our impact +13pp Physical Store NPS (vs. 2023) - 25% Turnover (vs. 2023) +81% training hours per employee (vs. 2023)
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80 “I get inspired , dream and shop at my own pace, in the easiest way FOR ME” The customer discovers , chooses , buys and receives wherever is most convenient : In - store or Digital PRE-PURCHASE ENTRY PAYMENT FITTINGROOM POST-SALE CIRCULATIO N
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81 Omnichannel customers extract more value from the same assets, with higher productivity and lower capital intensity 2x More frequency 2x More spending than single - channel customers + Omni Customers + Sales per m² 81
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82 Full Power Ambition 82 Omni Promote omnichannel adoption as an engine for productivity and customer base growth Reach 15% app/site share in apparel sales , in a sustainable way Meaningfully increase our presence in the pre - purchase stage Continue evolving omni conversion through full integration
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83 We aim to double our penetration by 2030 Digital Penetration During Energia, we built the foundations that will enable digital acceleration in a profitable and sustainable way Foundations built throughout Energia LTM 2T26 2030 7% 15% 2x Launch of the new site & app Investment in technology and AI Reduction of friction points in the journey
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84 We relaunched the new Site & App New Site: Before After Before New App: After
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85 The new digital experience is already driving traffic, conversion and engagement Key Improvements +41% Pages visited on site and app +29% Site conversion +5pp Gross margin of the channel Results (JAN 24 – 2Q26) New UX aligned with market best practices Virtual fitting room with AI technology SEO and GEO optimization (including ChatGPT) Initiatives validated through A/B testing and practical research at the Mirror Room
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86 Pioneering the AI journey C&A was the first fashion retailer in Brazil with Home for You, personal shopper and conversational commerce on site & app +5x conversion Expansion of Personal Shopper through a conversational agent that delivers outfit recommendations on WhatsApp HOME FOR YOU AI PERSONAL SHOPPER AI CONVERSATIONAL COMMERCE Occasion - based search, allowing customers to discover products and looks through personalized recommendations Personalized page with product recommendations based on customer data (e.g.: browsing history)
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88 2030 Levers Based on improving the journey Increasingly relevant omni assortment Growth of the omni customer base Strategy for an omnichannel C&A App Acceleration of conversational commerce + AIO + GEO Intensification of omni journeys . ( In - store pickup / exchange , assisted selling , social selling )
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89 Key Takeaways + Productivity: Continue evolving consistently in sales /m 2 + Customer base expansion : Opportunity for up to 100 new stores and accelerated omnichannel adoption + C&A Essence : A team passionate about caring for people and delivering consistent results
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90 Relationship as a business enhancer Filipe Matzembacher Financial Services Director 5 years at C&A, +15 years of experience 90
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91 Full Power Ambition Turn CRM, Loyalty and Credit into a single relationship ecosystem , converting customer scale into connection, with frequency , ticket and retention as growth engines 91
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92 How we will do it: Focus on generating value for the customer , strengthening our bond Higher frequency Higher LTV Higher average ticket CUSTOMER CRM Credit Benefits / Loyalty Result: 92
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93 We still have a customer base with great potential for engagement and growth Total customer base +70 million Active customers ( purchase <12 months ) ~19 million Active C&A Pay customers ~4 million C&A&VC base +40 million
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94 CRM as an engagement tool: We will keep accelerating our hyper - personalization journey +130 Automated journeys in the new CRM during Energia +1000 Personalized communication combinations with the customer +26% lift of new journeys (May - Aug /26) We expanded segmentation : +3.3x our reachable base capacity New operating model More segmented campaigns Personalized recommendation engine Customer base enrichment Use of AI in creatives and segmentation
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95 Customer A Customer B Customer C Dynamic promotional banner Dynamic block of personalized recommendations Dynamic C&A Pay banner CRM as an engagement tool: Campaigns targeted to each customer
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96 Loyalty program evolving and connected to the credit ecosystem Purchase Advantages Financial Benefits Differentiated Experiences Exclusivity & Recognition Current Program New Program under Development Based on research and active listening to customers
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97 Credit Enhances customer relationship, and fashion retail is one of the most accessible entry points +25% Average ticket vs. other customers +150% Spending at C&A vs. other customers +2x Purchase frequency More purchases at C&A stores More credit relationships Note: Data refers to the period between May/25 and Jun/26 (12 months).
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98 Full Power Ambition Credit Expand C&A Pay adoption, strengthening the private label value proposition And develop new credit products , increasing the share of financial services in C&A's results 98
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99 Omnichannel Integration 3 - click checkout with C&A Pay integration and installment payment option is one of our competitive advantages Credit approval in 1 minute, directly at the POS Dynamic credit limit personalized based on the customer spending Integrated journeys via WhatsApp with AI 100% Digital product at every stage, checkout with facial biometrics only
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100 consolidated its presence in sales Bradescard C&A Pay Share of proprietary payment methods % of sales Launch in Dec/21 2020 2021 2022 2023 2024 2025 H1 2026 16% 16% 22% 24% 27% 28% 28% +78% Independent operation Breakeven achieved Growing adoption by C&A customers Delinquency under control
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101 We want to increase the weight of credit products in EBITDA, while maintaining our rigor and discipline C&A Pay Private Label Accessible entry point Use & Behavior Development of new financial products Examples of products for development: Co - branded Card Personal Loan Other Products Builds credit history Product upgrade We were born digital and will remain so : 100% of the offer via digital channels
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102 Key Takeaways We want to enhance the level of relationship and engagement with our customer base We have an extensive, qualified customer base as a competitive advantage CRM and Loyalty are important platforms for building this more individualized contact with the customer Credit is an important growth and loyalty lever, through improving the C&A Pay value proposition and developing new financial products with controlled risk
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103 a standalone brand Filipe Albuquerque New Business Director , 1 year at C&A, +15 years of experience (C&A trainee 2011) 103
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104 Source: Euromonitor. Considers global growth and market value of Sportswear, including apparel, accessories and footwear Athleisure Athletic + Leisure ~US$ 400Bn Global market value (2026) +7% p.a . Global market growth ( last 5 years ) Growth drivers are not the performance - focused brands A behavioral shift: Intersection of the functional with the aesthetic A combination creating comfortable, functional and versatile looks that let you move through the day 104
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105 Market Opportunity: Lifestyle brands accelerating, growing faster than purely athletic brands 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 CAGR +24.6% Consolidated gross revenue – Global market Established athletic brands Player 1 + player 2 (combined revenue) Accelerating lifestyle brands 7 athleisure players (combined revenue) Source: GlobalData and Euromonitor CAGR +1.7% 105
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106 In Brazil, the global pattern repeats: Established athletic brands are growing, but it's the lifestyle brands driving the market Consolidated gross revenue – Brazilian market Established athletic brands Player 1 + player 2 (combined revenue) Accelerating lifestyle brands 7 athleisure players (combined revenue) Source: GlobalData and Euromonitor 2021 2022 2023 2024 2025 CAGR +10.5% 2021 2022 2023 2024 2025 CAGR +39.9% 106
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107 The athletic segment , by the end of 2025, amounted to ~R$ 37Bn, accounting for 19% of the apparel and footwear market in Brazil 2023 2024 2025 2026 2027 2028 2029 2030 29,1 32,4 36,8 39,3 41,5 43,9 46,3 48,6 7,6% Total Brazilian Market – Sportswear (R$ billion) 19% of the total Brazilian apparel and footwear market Source: Euromonitor, Sportswear market considering apparel, accessories and footwear. 107
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109 Product DNA Smart Minimalism Clean silhouettes , sophisticated palette and intuitive combinations that create a contemporary , feminine look with fashionable appeal Sensory Premium fabrics and finishes that turn touch into an experience . Comfort, lightness and well - being from first wear Third Item Versatile items that transition naturally between different moments of the day , expanding the possibilities of use through styling 109
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110 T ech More complete tools Product · Marketing · Channels A level playing field to compete in a different business model C&A Culture: Customer focus | Data - driven | Test&Learn | Efficiency and Agility Sourcing Best suppliers in the market Logistics Local and international network C&A Backoffice Shared use of corporate areas Born with its own structure to compete in an adjacent market It leverages the C&A ecosystem to launch with a lean cost structure and robust capabilities . Within C&A stores, the sportswear line is being rebranded as C&A Sports , maintaining strong growth momentum and expanding its leadership in large - format retail. 110
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111 Premium positioning with an omnichannel focus Intuitive and inspirational navigation Omnichannel (ship from store, pick - up, showrooming, WhatsApp) Integrated communication across the store and digital journey for conversion App launch in Q4 Curation and fashion language Focus on product experience 111
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112 Architecture as an expression of the brand Proprietary architecture , designed by Marcelo Rosenbaum, which embodies our premium positioning Product at the center of the shopping experience. Sensory elements that reinforce fashion, lifestyle and well - being Experience designed for dwell time: Assisted service, curated VM and its own signature scent 112
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113 Business model journey WAVE 1 WAVE 2 Own Stores Focus on class A/ B shopping malls Tier 1, state capitals Up to 10 stores Learnings and adjustments to the model Expansion of own stores Testing of a franchisable model Up to 25 stores Roll - out of the scalable model with national coverage 113
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115 Technology and AI for a smarter , more capital - efficient model Bruno Ferreira Technology Director, 15 years at C&A 115
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116 Full Power Ambition Make technology & AI a strategic business capability, results - driven, able to build one C&A for every customer and enable growth with productivity and capital efficiency 116
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117 2019 - 2022 2023 - 2025 2026 - 2030 Building Technology Foundations Cloud First Architecture Data Lake Push & Pull DC Automation New WMS Technology Platforms & Process Digitalization C&A Pay New App & New Site CRM Engines Hyper - personalization RFID Commercial Intelligence Hub Creation of the Applied Technology committee Activation & Scaling Dynamic Assortment by Store Store Tech New Omni Digital Architecture Pricing 2.0 AI Productivity Loyalty & Integrated Experience GenAI We built the technology foundations that enabled us to advance in Energia... Now we're entering a new phase to scale this impact
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118 Revenue & Margin More precise decisions that improve margin Conversion More conversion and digital growth Productivity Less effort, more efficiency Experience More fluid, modern and personalized +4.7 p.p . Gross margin in apparel with Pricing since 2023 +30% Revenue impacted by Dynamic Assortment Rollout in 2026 +5x More conversion with Home For You vs. standard Home page +5x More conversion with AI Personal Shopper vs. traditional browsing 90% Of customer service interactions handled by AI CSAT 8.2 - 44% In the service team with Conversational C&A Pay +200 Stores with RFID self - checkout by Q3 - 2026 Collections created with AI Brazilian Resort, 1st collection created with AI at C&A - Q1/2026 Technology & AI Already delivering measurable impact on key value levers
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119 Four value levers guide the next phase of technology & AI Commercial intelligence 1 Customer experience 2 Corporate productivity 4 3 Customer relationship + Sales per m 2 + Conversion in - store and digital + Purchase frequency Efficiency in processes
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120 Lever 1: Commercial Intelligence Smarter assortment boosts store productivity , increasing sales /m² and margin Full Power Ambition Planning Sortimento Produto Sourcing Logística Pricing 2.0 Sales m2 Less Markdown Assortment Optimized by store Homogeneous assortment Non - optimized inventory Reactive decisions Significant increase in store productivity Traditional Model HIC Commercial Intelligence Hub Days of Inventory (DIO) Higher sales /m 2 and reduced days of inventory
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121 Lever 2: Customer Experience More integrated store and digital experiences increase conversion and customer value Technology - Enabled Stores Expanded RFID Self Checkout Mobile Checkout Workforce Management Fashion Consultant Frictionless Omnichannel Conversational Journey AI Personalization Integrated Digital Ship from Store Endless Aisle A single, seamless customer journey NPS Average ticket Digital share Growth in OMNI customers
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122 Recognize Converse Activate Lever 3: Customer Relationships Smarter relationships increase frequency and LTV Continuous, personalized and conversational relationship Hyper personalization Conversational WhatsApp with integrated payment Automated CRM journeys New platform for Loyalty Frequency LTV Share of Wallet
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123 Lever 4: Corporate Productivity Smarter operations increase productivity and reduce costs New Corporate Productivity Project Complexity Speed Efficiency Simplify Fewer platforms, less friction, centralized service Amplify GenAI as a tool for every team Automate Agents and automation handling repetitive tasks. Humans on exceptions Use at scale of automation and AI AI and a productivity mindset embedded in employees' daily routine
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124 Key Takeaways ABSOLUTE FOCUS ON RESULTS Initiatives prioritized based on clear , measurable value theses , with discipline on return on investment AI IN SERVICE OF THE BUSINESS Use of AI integrated with the company's decisions and priorities , accelerating value capture and strategy execution . A C&A FOR EVERY CUSTOMER AI and data expanding our ability to personalize experiences , offers and relationships , increasing conversion , frequency and customer value PRODUCTIVITY AND CAPITAL EFFICIENCY A simpler , more scalable company , supported by AI and automation to grow with higher productivity and lower capital intensity
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125 A more regional, agile and efficient logistics network Hussein Rodrigues Director of Supply Chain, 18 years at C&A 125
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126 Full Power Ambition Ensure the right product , in the right store, at the right time Logistics ready to enable growth with speed , flexibility and efficiency 126
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127 We revisited our logistics model to meet C&A's strategic guidelines and ambitions Also considering the logistics challenges of a continent - sized country like Brazil Readiness for Growth Capacity and flexibility to keep pace with the expansion of C&A's store and category portfolio Speed Service speed and frequente replenishment, with inventory optimization Financial Efficiency Operational efficiency and return on investments Resilience Adaptability to market changes and mitigation of logistics risks Personalization Personalization by store and supply granularity
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128 We used 3 complementary lenses to build our model Fashion Benchmarks Operational Levers Network Optimizer Logistics network Delivery model Inventory and service level Automation Technology Role of DCs Location of logistics nodes Cross - docking and Push&Pull Level of Mechanization Capacity Logistics costs Transit time Operational capacity Demand forecasting With support from specialized consultancies and extensive scenario modeling
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129 SP DCs RJ DC SC DC Served via SP DCs Served via RJ DC Starting from a centralized logistics network Distribution to Stores Distribution effort in a single DC (SP) High lead time for regions like North and Northeast SC DC only as cross - docking for SP DCs Rollout of Energia: Our starting point
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130 Full Power: Our ambition for 2030 Toward a more regionalized and flexible logistics network Starting point Future network Supplier inbound 3 DCs 4 DCs Order processing 1 DC 3 DCs Push&Pull SKU distribution 1 DC 2 DCs Last mile to stores 2 DCs 4 DCs and 4+ Hubs Served via SP DCs Served via RJ DC Served via SC DC Served via PE DC SP DCs RJ DC SC DC PE DC GO HUB MG HUB BA HUB RS HUB +Additional hubs under review
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131 Full Power: Our ambition for 2030 Toward a more regionalized and flexible logistics network Served via SP DCs Served via RJ DC Served via SC DC Served via PE DC CDs SP CD RJ CD SC CD PE HUB GO HUB MG HUB BA HUB RS Distribution to Stores New PE DC to serve the Northeast Expanded scope of the SC DC to serve the South Urban hubs in RS and GO (other locations under review) Push & pull distribution via the SP and PE DCs Already being implemented / implemented
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132 Additionally, we improved the scope of the Push&Pull SKU supply model Considering an analysis of market best practices, balancing speed and value added by mode Characteristics Fulfillment model A B C Cross docking/Pack: All products ✓ Speed and efficiency Cross docking / pack: First shipment ✓ Speed, efficiency and demand reading Push & Pull / SKU: Replenishment ✓ Assertiveness, granularity and service level Scaled Products Longer life cycles Greater depth More predictable demand Shorter life cycles Special collections Tests
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133 * Push&Pull SKU capacity expansion underway for Q4 With greater granularity where it generates the most value and better service level for the customer , Push&Pull SKU coverage could potentially account for 70% of supply Push&Pull SKU supply % evolution 2023 2024 2025 Full Power 38% 50% 54% ~ 70% 133
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134 With an investment plan focused on increasing capacity , speed and service efficiency Systems, Analytics and AI Better allocation, transportation and planning decisions Specialized Operations Capacity expansion for push&pull , e - commerce and beauty Infrastructure development Development of new and current sites, operational capacity Automation Sorters, conveyors, RFID and solutions suited to flow
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135 A logistics network better prepared for the next growth cycle Higher speed , reach and inventory efficiency through regionalized distribution More accurate replenishment with strengthening of Push & Pull where it generates the most value and service level Strengthening of performance through investments in automation, infrastructure and digital intelligence Flexible , more agile and efficient logistics design , enabling profitable growth 135
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136 A culture that turns ambition into results Carolina Borghesi VP People, Culture and ESG 3 years at C&A, +25 years of experience 136
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137 Full Power Ambition Enhance the capture of Full Power, raising productivity, with performance - driven culture and development of new capabilities Consolidate our positioning in ESG centered on circularity and diversity 137
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138 Pillars of the Energia cycle that will boost the Full Power strategy Strengthening of leadership Management Model generating alignment and results Training as a lever for transformation and performance Authentic culture, intentionally shaped ESG agenda consistent and generating positive impact 3 2 1 4 5
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139 Strengthening of the leadership team, adding new talent to the executive team More than 15 years at the company 27 % Partners 65 yo (Average age) 43 With +10 years in fashion retail 63 % Were hired in the last 2 years 26 %
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140 Talent development and retention Performance and potential assessment Identification of successors Succession Planning Adjustments to organizational architecture Calibration committees Development and Readiness Plans Governance and evolution of the model, anticipating the new capabilities critical to strategy execution 1 2 3 4 5 6 Of our partners were internally promoted 66 % Of leaders entered through the trainee program 15 % Partner retention during the Energia cycle 93 %
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141 Management and incentive model that ensure alignment with C&A's goals More C&A culture values Manageme nt rituals Corporate and individual targets Aligned incentives 60% Of executive compensation is variable 65% Business targets. NPS, Sales, EBITDA, Net Income and Frequency Corporate targets linked to strategy 35% Individual targets. ESG, Succession, Indicators and strategy - related projects PSUs value creation targets 50% TSR 50% ROIC Short - term incentives 50% Long - term incentives 50%
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142 Scalable people development: A performance lever The Model Structure that supports training Modern , user - friendly technology platform with very positive user ratings Instructional design team producing proprietary contente 27 dedicated specialists, one per region,accelerating application Execution at Scale From 2023 to 2026 97% Trainee satisfaction rate 92% Learning +81% Training hours per employee +76% Total training hours The Business Result What training is already delivering - 25% turnover (Jan 2024 to LTM26) +13 pp Store NPS +5.8 pp C&A Pay penetration +15 pp AI adoption in daily routine
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143 C&A Culture Authentic, intentionally shaped and coherent with the future we want to build Alignment between Culture and strategy Consolidation of our Manifesto and Purpose : + Customer + Product + Team + Inclusion + People 2023 – 2024 Culture Evolution with Performance 2025 – Today Energia Management model, aligning incentives, generating results and leveraging training to strengthen our execution capability Culture Evolution 2027 - 2030 Full Power Enhance our workforce with automation and AI while keeping human relationships
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144 Culture that attracts new talent Best company to work for in fashion retail in 2026 Recognized with the GPTW Badge since 2019 Engagement of our employees More than 11,000 employees surveyed at 4 timepoints during the year Satisfaction Index 92.8
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145 Full Power Ambition Strengthen our ESG positioning based on circularity, being a diverse and inclusive company ESG as a strategic pillar Engaging change agents Drivers Goals, plans, innovation and transparency that integrate sustainability into business strategy Circularity A purpose that follows every item, from raw material to new life Diversity and Inclusion Representation across all our relationships Climate Change A climate commitment running through every stage of our journey Customers Suppliers Specialists Community Employees
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146 Our public ESG commitments are advancing with solid results Promote circularity Products incorporating circularity principles 50% 33% Public 2030 commitment s Today Promote leadership equity Women in leadership positions Black and Indigenous people in leadership positions 60% 60% 30% 30% Contribute to the transition to a low - carbon economy Reduction in absolute emissions. (Target approved in 2025, aligned with the 2 ° C scenario) 30% Promote the use of sustainable raw materials Main raw materials from more sustainable sources : cotton , viscose and recycled polyester 80% 72% Reduce single - use plastic pollution Single - use plastics replaced by more sustainable alternatives 50% 41% Measurement of reduction potential started in 2026
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147 Supplier Network Integrated Report Annual Report 2006 2007 2008 2009 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2010 2024 2025 2026 ESG action is part of our history. And of our future
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148 Fashion with Positive Impact It's what we find when we do it together Entrepreneurship Employability +55 thousand Hours Donated 128 NGOs supported annually + 22 thousand People impacted annually 30% Of C&A's workforce volunteered Volunteering 955 Entrepreneurs supported 22 Projects executed 950 Professionals supported
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149 Key Takeaways We started the Full Power cycle with the right team : prepared , aligned leaders , with mapped successors , ensuring business continuity The management and variable compensation model brings alignment and focus , driving results Our strong culture generates engagement , strengthening our ability to attract and retain talent People training ensures consistent execution , productivity and consequently drives performance and value creation in the 2030 cycle Our consolidated ESG practices will be reflected through our focus on circularity and diversity
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150 Profitable growth with capital discipline Laurence Gomes VP Finance and IR, 3 years at C&A, +19 years of experience 150
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151 151 Consolidated the financial foundation needed to grow profitably Energia
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152 The Energia cycle raised the bar for growth and profitability Total net revenue and gross margin (R$ mn) 6.719 7.637 7.983 8.014 52,4% 54,7% 55,5% 56,2% 2023 2024 2025 LTM 2Q26 Total Net Revenue Total Gross Margin Adjusted net income (PRE IFRS16) R$ million - 10 315 485 496 - 0,2% 4,1% 6,1% 6,2% 2023 2024 2025 LTM 2Q26 Adjusted net income Net margin +19 % 2023 – LTM 2Q26 ~R$ 500 mn Net income LTM 2Q26, reversing the negative result of 2023
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153 Expense management discipline keeps expense growth in line with total revenue and dilution in apparel 2025 impacted by the discontinuation of the mobile phone business and termination of the Bradescard partnership In apparel, consistent evolution of expense dilution since 2022, supported by strong discipline in expense management and control 2023 2024 2025 LTM 2T26 40,7% 49,3% 39,8% 47,0% 41,1% 46,5% 41,6% 46,1% SG&A/Rol ApparelSG&A/Rol total
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154 The Energia cycle consolidated a more efficient operational and financial base for capital use, supporting the next growth cycle 19,2% 14,6% 12,9% 2023 2024 2025 14,6% LTM 2Q26 Working Capital (% Net Revenue) Discipline in capital use: Working Capital Committee A permanent, cross - functional governance body that prioritizes value - creating opportunities in capital allocation and ensures greater rigor in the management of inventory, accounts receivable, and accounts payable A foundation for reinvestment without straining the balance sheet Freed - up capital expands the capacity to fund the next growth cycle (2027 – 2030) without relying on additional debt.
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155 Note: Excluding the impact of Bradescard in 2025 as disclosed in the 4Q25 earnings release Higher profitability and efficiency in converting results into cash expanded our investment capacity Operating cash flow (R$ million ) 624 944 1.384 704 2023 2024 2025 LTM 2Q26 % of Net Revenue 9% 12% 17 %
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156 Cash generation allowed us to accelerate investments in projects that boost growth, productivity and ROIC 16 new stores (2024 to 2Q26) +32 renovated stores, including 23 under the Energia concept (2024 to 2Q26) Logistics improvements with new logistics hubs, automation and expansion (South and Midwest) Tech investments: Commercial Intelligence Hub, dynamic assortment, CRM & RFID Annual Capex ( R$ million) % of Net Revenue 3% 5% 7% 86 680 150 274 133 165 151 18 34 30 2023 12 32 2024 34 2025 2026 215 360 546 +2.8x +R$ 1.1Bn I nvested during the E nergia cycle 202 4 - 2Q2 6 Governance focused on projects, preserving investment discipline and prioritizing projects with a minimum IRR of 18%
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157 Even with accelerated investments, we reduced debt and reached a net cash position in 2025 881 510 - 84 170 1,5x 0,5x 0,0x 0,2x 2023 2024 2025 LTM 2Q26 Net debt and leverage ( R$ million) Net cash
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158 Note: Net of new debt issuance amortization. Shareholder return considers dividends to be paid in Aug/2026 33% 35% 20% 12% Capital allocation 2024 - 2Q26 ~R$3.3Bn Debt amortization 35% R$1.2Bn Interest payment R$0.7Bn 20% Shareholder return 12% R$0.4Bn 33% CAPEX R$1.1Bn ~R$3.3Bn of cash generated between 2024 and 2Q26 restored our capacity to reinvest in the business and, starting in 2024, we resumed shareholder returns through dividends
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159 Full Power Ambition Sustain profitable growth with structural expansion of return on capital, supported by higher productivity , cash generation and discipline in capital allocation 159
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160 Our growth model for 2030 combines expansion, productivity and capital discipline ROIC Invested Capital NOPAT + Sales per m² + New openings and renovations + Site & app penetration 15% + New businesses (ACE) + Efficiency gains and increased productivity (SG&A dilution ) + Discipline in capital allocation and execution + Governance over results + Optimization of cash conversion Value - creation levers Value - creation levers
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161 33% 35% 20% 12% Capital allocation 2023 - 2Q26 Capital allocation through 2030 ~R$3.3 Bn Full Power Debt amortization Shareholder Return CAPEX Interest payment Full Power capital allocation ambition with higher capex and shareholder returns Note: Shareholder return considers dividends to be paid in Aug/2026
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162 Maintaining the investment level CAPEX (% Net Revenue) CAPEX 7% - 8% of net revenue New stores 60 - 80 new stores Renovations 100 - 120 renovated stores Technology Commercial Intelligence Hub Logistics Logistics strategy 2023 2024 2025 LTM 2T26 3,2% 4,7% 6,8% 7,2% Full Power: % Capex / Net Revenue of 7% to 8%
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163 Note 1: ROIC calculated based on adjusted net income for the last four quarters. Continuity of the elevated level of return on capital ROIC LTM¹ (%) ROIC Driven by results growth and disciplinein capital allocation Profitability Structural gains above the cost of capital Greater efficiency in the cash conversion cycle 20% reduction by 2030 vs. 2026 2023 2024 2025 LTM 2T26 5,1% 15,8% 21,9% 19,9% Full Power: ROIC from new projects above 18% Accounting ROIC 5.6% 15.3% 17.5% 16.5%
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164 Full Power ambition to keep leverage below 0.5x Net debt and leverage ( R$ million) 0.5x Leverage maintained despite accelerated investments 881 510 - 84 170 1,5x 0,5x 0,0x 0,2x 2023 2024 2025 LTM 2Q26 Net cash
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165 Key Takeaways Energia consolidated a solid , profitable financial foundation to sustain the next growth cycle Productivity, expense discipline and greater capital efficiency expanded margins and cash generation , structurally raising ROIC Full Power Ambition : sustain profitable growth with ROIC expansion , supported by productivity , operational efficiency and capital discipline Greater capacity to generate shareholder returns – higher cash generation and a solid balance sheet allow us to accelerate investments with returns and expand shareholder compensation capacity
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166 Closing Remarks Paulo Correa CEO 166
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167 Advances in the Energia cycle Position C&A as a differentiated investment thesis in the sector for the 2027 - 2030 cycle 167
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168 We learned and evolved a great deal with Energia +19% Net revenue +4.7 pp Merchandise Gross Margin +76% Adjusted EBITDA 1.5x → 0.2x Leverage reduction +21% Net revenue per m 2 #1 brand in purchase consideration +13 pts NPS +32 Renovated stores 35 - 45% Growth in core categories +45% Push & Pull
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169 Our Ambitions for the 2027 - 30 Cycle Growth levers Enablers Product Share gain in all categories +Speed +Quality +Assertiveness Omnichannel Journey Increased productivity 100 - 120 Energia renovations 60 - 80 Dispersion stores 15% omnichannel sales 3x more omni customers Relationship More frequency , spending and base Hyper - personalization Loyalty C&A Pay and testing of other products Store Expansion 60 - 80 new C&A Energia Stores New Businesses ACE and complementary businesses Brand Technology Logistics and Supply People and ESG Competitive advantage +Productivity +Intelligence +Return on capital Regionalization +Proximity +Speed +Investment efficiency New capabilities Strengthening culture Circularity
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170 We will keep moving forward showing our sustainable value generation Full Power 170
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172 Q & A 172
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173 Thank You 173