Slides
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2Q26 C & A Earnings Presentation 50th Anniversary in Brazil CA
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RESULTS 2Q26 2 2Q26 HIGHLIGHTS +4.1% APPAREL SSS¹ IN 2Q26, WITH 5.6% GROWTH IN APPAREL NET REVENUE 59.1% HIGHEST APPAREL GROSS MARGIN EVER RECORDED FOR A SECOND QUARTER +33,3% WEBSITE AND APP NET REVENUE VS. 2Q25 R$ 130.1MI HIGHEST ADJUSTED NET INCOME ACHIEVED FOR A SECOND QUARTER R$ 119.6MI IN CAPEX, INCLUDING THE OPENING OF 2 ENERGIA STORES, THE LAUNCH OF THE ACE BRAND, AND 2 STORE RENOVATIONS ~85% OF THE SHARE BUYBACK PROGRAM COMPLETE, WITH R$64.3 MILLION REPURCHASED DURING THE QUARTER 19.9% ROIC² LTM 2Q26, ABOVE THE COMPANY'S COST OF CAPITAL RESULTS 2Q26 2
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RESULTS 2Q26 3 R E S U LTS 2Q26 3 EXECUTION STRATEGY ENERGIA C&A
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RESULTS 2Q26 4 Test & Learn Product development methodology based on real-world testing Continuous collection renewal Winter Collection Performance Greater product accuracy driven by Test & Learn validation Consistent sales growth, even after strong growth in the prior year Logistics Technology and automation Increased productivity ENERGIA C&A PRODUCT RESULTS 2Q26 4
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OFFLINE & ONLINE ENERGIA CA OMNI JOURNEY ENERGIA C&A OMNI JOURNEY 7x sem juros R E S U LTS 2Q26 5
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RESULTS 2Q26 6 ENERGIA C&A OFFLINE JOURNEY Store Openings +2 stores opened in Santa Catarina +3 underway for 3Q26 Flagship Energia +2 additional openings planned for this year: • Av. Paulista/SP • Shopping Barra/RJ Store renovations +2 renovations completed during the quarter, including Shopping Ibirapuera +18 renovations currently underway RESULTADOS 2T26 6
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RESULTS 2Q26 7 ACE BRAND LAUNCH First standalone ACE store and e- commerce website Positioned at the intersection of fashion, performance, and lifestyle Opportunity in the athleisuremarket Two additional store openings planned by the end of the month
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RESULTS 2Q26 8 New checkout On the website e app Conversational Commerce Increased fashion consumption on the website and app, with a 40% higher conversion rate among users of the tool Store Mode Greater customer integration and connectivity with stores ENERGIA C&A ONLINE JOURNEY 33.3% growth in website and app revenue, reaching 7.7% penetration, up 1.8 p.p. vs. 2Q25 RESULTS 2Q26 8
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RESULTS 2Q26 9 Deepening connectionswith our customers Celebrating 50 years in Brazil Shakira concert in Rio Rock in Rio 2026 ENERGIA C&A BRAND STRENGTHENING AND CUSTOMER ENGAGEMENT
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RESULTS 2Q26 10 PERFORMANCE FINANCIAL RESULTS 2Q26 10
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RESULTS 2Q26 11 1,329 1,351 1,529 1,795 1,895 35.0% 0.7% 13.0% 17.0% 4.1% 2Q22 2Q23 2Q24 2Q25 2Q26 MERCHANDISE NET REVENUE R$ Million and % Merchandise Apparel +1.8% 2Q26 vs. 2Q25 +5.6% 2Q26 vs. 2Q25 1,571 1,549 1,706 1,967 2,003 34.2% -2.2% 10.1% 15.0% 0.4% 2Q22 2Q23 2Q24 2Q25 2Q26 Net revenue SSS (Same Store Sales) Strong winter collection drives apparel sales performance
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R E S U LTS 2Q26 12 SITE & APP NET REVENUE R$ Million and % 83.8 76.8 88.5 115.7 154.35.3% 5.0% 5.2% 5.9% 7.7% 2Q22 2Q22 2Q22 2Q22 2Q22 Site + APP net revenue % Merchandise Net Revenue Site e APP ne revenue increased 33.3% vs. 2Q25, marking the 10th consecutive quarter of year-over-year (YoY) growth
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R E S U LTS 2Q26 13 MERCHANDISE GROSS MARGIN Figures in % Merchandise Apparel +1.7 p.p. 2Q26 vs. 2Q25 +0.6 p.p. 2Q26 vs. 2Q25 50.6% 52.0% 54.4% 56.3% 58.1% 2Q22 2Q23 2Q24 2Q25 2Q26 55.9% 56.4% 57.7% 58.5% 59.1% 2Q22 2Q23 2Q24 2Q25 2Q26 Apparel gross margin expanded for the 20th consecutive quarter
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R E S U LTS 2Q26 14 204 191 638 674 842 864 2Q25 2Q26 OPERATING EXPENSES¹ MANAGAMENT R$ Million and % SG&A / Net revenueTotal net revenueOperating expenses (SG&A) +2,7% ¹ Expenses include the impact of lease payments in accordance with IFRS 16, but exclude Depreciation and Amortization expenses, Right-of-Use Asset Depreciation (Leases), as well as net credit loss expenses and other operating income (expenses). 842 864 4 0.9 % 41.5% 2Q25 2Q26 +5,6% -6,4% Selling G&A SG&A / Net revenueSG&AApparel Merchandise ex-apparel Financial Services +0.6 p.p. +2.7% +2.7% SG&A Δ 2Q26 vs. 2Q25 Total Net Revenue grew 1.2%, below apparel sales growth, reflecting the phase-out of the mobile phone operation and the termination of the Bradescard partnership. 1,795 1,895 171 108 86 76 2,058 2,082 2Q25 2Q26 +5.6% -37.1% -10.8% +1.2%
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R E S U LTS 2Q26 15 C&A PAY Credit discipline supports profitability growth and delinquency control 28.2% Retail sales penetration, +0.3 p.p. vs. 2Q25 9.8 Mi Cards issued 13.4% NPL 90 ratio,-3.7 p.p. vs. 2Q25 R$ 978.8 Mi Portfolio up to 360 days at the end of 2Q26 (+10.2% vs. 2Q25) 4.4% Net losses / 360-day portfolio, -0.4 p.p. vs. 2Q25 R$ 15.4Mi Operating income, compared to R$0.3 million in 2Q25
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RESULTS 2Q26 16 76.4% 85.5% 104 .1% 105.5% 113.8% 2Q22 2Q23 2Q24 2Q25 2Q26 4.9% 9. 3% 7.9% 4.8% 4.4% 2Q22 2Q23 2Q24 2Q25 2Q26 DELINQUENCY INDICATORS EVOLUTION Figures in % 4 .1% 21.4% 1 9.6% 17.1% 13.4% 2Q22 2Q23 2Q24 2Q25 2Q26 NPL 90 over the 360-day portfolio Net loss over the 360-day portfolio NPL formation¹ Coverage² index over portfolio >90 days (360) 5.5% 9.7 % 7.1% 5.2% 4.0% 2Q22 2Q23 2Q24 2Q25 2Q26 Notes: 1) NPL formation considers variation of accounts overdue between 90-360 days; 2) Coverage calculated as a ratio of total estimated loss to stage-3 overdue portfolio (IFRS-9), over 90 days values covered by BACEN resolution 4966
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RESULTS 2Q26 17 ADJUSTED EBITDA¹ REACHES R$ 307 MILLION, WITH A 14.7% MARGIN R$ Million and % ¹ Pre-IFRS 16 EBITDA adjusted for: (i) Other net operating income (expenses); (ii) Financial income from suppliers; (iii) Recovery of tax credits; and (iv) Long-term incentive program expenses. -2.8% Adjusted EBITDA 2Q26 vs. 2Q25 138 161 243 316 307 8.4% 9. 8% 13.3% 15.3% 14.7% 2Q22 2Q23 2Q24 2Q25 2Q26 RESULTS 2Q26 17
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RESULTS 2Q26 18 ADJUSTED NET INCOME R$ Million and % +0.2 p.p. Adjusted net margin 2Q26 vs. 2Q25 -8.4 3.2 5 8 .1 124.7 1 30.1 -0.5% 0.2% 3.2% 6 .1% 6.2% 2Q23 2Q23 2Q23 2Q24 2Q25
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RESULTS 2Q26 19 INVESTMENT ACCELERATION FOCUSED ON STORE RENOVATIONS AND EXPANSION 114 56 57 112 120 7.0% 3.4% 3.1% 5.5% 5.7% 2Q22 2Q23 2Q24 2Q25 2Q26 CAPEX Net revenue
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R E S U LTS 2Q26 20 Cash conversion cycle reflects higher inventory investments 36 55 2T25 2T26 Ciclo de Conversão de Caixa WORKING CAPITAL CASH CONVERSION CYCLE · 2Q26 vs. 2Q25 Accounts Payable (DPO): +2 days Cash Conversion Cycle (CCC): +19 days Accounts Receivable (DSO): +3 days Driven by the higher share of interest- bearing installment sales through C&A Pay DIO: Phase-out of the mobile phone category, which had a high inventory turnover rate. Lower winter inventory levels at the end of 2Q25. Customer traffic below expectations in June, due to the FIFA World Cup and a higher number of store renovations during the quarter (20 stores). Acceleration of the store opening plan (+11 vs. 2Q25). Inventories (DIO) +1 8 DAYS IN 2Q26 VS. 2Q25 2Q25 2Q26
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RESULTS 2Q26 21 DISCIPLINED CAPITAL ALLOCATION, FOCUSED ON VALUE CREATION Operational and financial efficiency drive returns on invested capital 19.9% ROIC LTM 2T26 ROIC LTM 11.1% 2.6% 8.8% 20.9% 19.9% 2Q22 2Q23 2Q24 2Q25 2Q26
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RESULTS 2Q26 22 LIABILITY MANAGEMENT EVOLUTION R$ Million and % Note 1: Total net debt, including the payment obligation related to Bradescard. Note 2: Measured as net debt divided by adjusted EBITDA, pre-IFRS 16. 1,223 1,505 1,071 286 170 5.6x 3.8x 1.4x 0.3x 0.2x 2Q22 2Q23 2Q24 2Q25 2Q26 Net debt Leverage RESULTS 2Q26 22 Financial discipline and consistent deleveraging strengthen our investment capacity
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RESULTS 2Q26 23 Q&A To ask live questions, raise your hand and wait to be called on. When you hear your name, a prompt to turn on your microphone will appear on screen, please unmute to ask your questions. We recommend that all questions be asked at once. Alternatively, you can send your question directly through the Q&A icon at the bottom of the screen.
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RESULTS 2Q26 24 August 26 9:00 a.m to 1:00 p.m Live webcast ri.cea.com.br/en
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RESULTS 2Q26 25 Contact us: Laurence Gomes | CFO e DRI Rogerio Ueno Pedro Abe Luanna Tomé ri@cea.com.br EARNINGS CALL 2Q26 Disclaimer: The statements contained herein relating to business prospects, projections on operating and financial results and t hose relating to growth prospects of C&A Modas S.A. are merely forward-looking statements and, as such, are based solely on the Board's expectations regarding the future of the business. These expectations depend substantially on market conditions, the performance of the Brazilian economy, the sector and international markets and, therefore, are subject to change without notice.