Earnings release
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EARNINGS RELEASE 2Q26 50 anos de C & A no Brasil
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RESULTS 2Q26 2RESULTADOS2T26 4 C&A delivered 5,6% apparel growth, up 23.9% over two years, and recorded its 20th consecutive quarter of apparel gross margin expansion EARNINGS CONFERENCE CALL Date: 05/08/2026 (Portuguese/English) Brasília: 11:00h | New York: 09:00h | London: 14:00h webcast: ri.cea.com.br CLOSING ON: JUNE 30, 2026 PRICE: R$ 10.75 MARKET VALUE: R$ 3,225.1 SHARES OUTSTANDING: 201,245,068 HIGHLIGHTS 2Q26 (1) SSS: Same Store Sales – Sales growth in comparable stores. It is calculated based on the sales of stores that have been operating for more than 13 months compared to the same period of the previous year, including e-commerce and all its sales and delivery modalities (100% online, direct sales, Ship from Store, and Click & Collect). (2) ROIC calculated based on adjusted net income of the past last four quarters. +4.1% APPAREL SSS¹ IN 2Q26, WITH A 5.6% INCREASE IN APPAREL NET REVENUE 59.1% RECORD APPAREL GROSS MARGIN FOR A SECOND QUARTER +33.3% SITE & APP REVENUEVS. 2Q25 R$ 130.1MI RECORD ADJUSTED NET INCOME FOR A SECOND QUARTER R$ 119.6MI IN CAPEX, INCLUDING THE OPENING OF 2 NEW ENERGIA STORES, 2 STORE RENOVATIONS, 1 STORE EXPANSION AND THE FIRST ACE STORE ~85% OF THE SHARE BUYBACK PROGRAM COMPLETED, WITH R$ 64.3 MILLION REPURCHASED IN 2Q26 19.9% ROIC² LTM 2Q26, ABOVE THE COMPANY'S COST OF CAPITAL
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RESULTS 2Q26 3 MESSAGE MANAGEMENT C&A combined 5.6% growth in apparel net revenue during the quarter with gross margin expansion for the twentieth consecutive quarter, even against a higher comparison base and a challenging consumption environment. This combination of growth and profitability, coupled with disciplined capital allocation, also supported a 19.9% ROIC in the LTM 2Q26. In 2Q26, apparel same-store sales increased 4.1% despite a strong comparison base. As a result, cumulative two-year growth reached 23.9%, reinforcingthe relevance of our value propositionto customers. This performance reflects the potential of our winter collections,supported by early preparation and investments in products developed based on insights generated through our Test & Learn strategy. Throughout the period, the combinationof a more balanced assortment, a more accurate reading of demand, and the continuous evolution of commercial tools contributed to consistent sales growth during a quarter marked by lower customertraffic throughoutthe World Cup period. In addition, during the quarter we launched important campaignsthat strengthenedour connectionwith customers. For Mother's Day, we placed women at the center of the narrative, exploring the journey of reconnecting with their identity and style after motherhood. For Valentine's Day, we transformedan everydayinsight,the desireto helplovedones refresh their wardrobes, into an engagement initiative, connecting fashion with sustainability and convenience. Apparel gross margin expanded by 0.6 percentage points, reflecting commercial discipline and advances in the Company'sanalyticalcapabilities. The CommercialIntelligence Hub continues to enhance our decision-making process, contributing to greater accuracy in product allocation. We achieved a record adjusted net income for a second quarter, totaling R$ 130.1 million. At the same time, we maintained disciplined capital allocation, sustaining returns above our cost of capital and demonstrating our ability to consistently generate value over time. We continue investing in the Company's future. During the quarter, we opened two new stores, completed two renovations under the Energia format and one store expansion, which continues to deliver superior results, and inauguratedour first Ace store. We closed the quarterwith 18 additional renovationsunderway, reinforcingthe resumption of our store modernization agenda and our commitment to enhancing the customer experience and asset productivity. We also advanced important technology and productivity initiatives. The expansion of self-checkout, now present in 45% of our store network, along with other improvements in the shopping journey, continues to increase convenience for customers and operational efficiency within stores. In the Omnichannel journey, we maintained our growth trajectory. We continued implementing new capabilities that add value to the customer experience, such as Store Mode, which facilitates product searches and further integrates our physical and digital channels. On the website and app, we advanced initiatives designed to provide a better customer journey, including testing a new checkout experience, as well as continuous improvements in navigation and conversion. These investments continue to increase the relevance of the channel, which recorded 33.3% growth in net revenue during the quarter and reached a 7.7% share of merchandise sales, up 1.8 percentage points versus 2Q25. C&A Pay also delivered another period of progress. In addition to remaining an important customer relationship and loyalty tool, the operation continued to expand its ability to monetize the customer base while preserving credit portfolio quality and improving delinquency indicators. The Energia C&A strategy continues to progress as planned. We entered the final phase of implementation of a set of initiatives that has already reached approximately 80% completion. The benefits captured over recent years reinforce our conviction in the program's ability to continue increasing productivity across our operations. We maintained financial discipline with a solid liquidity position. We reduced gross debt by 26.2% and advanced the execution of our share buyback program, of which approximately 85% has already been completed. This initiative reflects our confidence in the Company's value creation potential and our commitment to disciplined capital allocation. In 2026, the year we celebrate 50 years in Brazil, we continue strengthening our brand and deepening our connection with customers. We ended the quarter confident in our trajectoryfor the remainderof the year. Operational improvements, progress in strategic initiatives, and consistent results reinforce our conviction that C&A is well positioned to continue capturing growth opportunities, expanding profitability, and generating sustainable value for shareholders.
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RESULTS 2Q26 4 (1) SSS: Same Store Sales – Growth in sales at comparable stores. It consists of the sales of stores that have been operating for more than 13 months compared to the same period of the previous year, including e-commerce and all its sales and delivery modalities (100% online, direct sales, Ship from Store, and Click and Collect). Regarding merchandise sales, it is important to note that the telecommunications kiosks were discontinued; (2) Considers only selling, general and administrative expenses, excluding depreciation and amortization, including right-of-use (lease) depreciation, PDD and other operating revenue (expenses) to facilitate analysis; (3) Adjustments include: (i) Other net operating revenue (expenses); (ii) trade financial revenue; (iii) recovery of tax credits; and (iv) long-term incentives for employees. (4) Adjustments include: (i) Other net operating revenue (expenses); (ii) recovery of tax credits; and (iii) long-term incentives for employees, after taxes. KPI's (R$ Million and %) 2Q26 2Q25 ∆% 6M26 6M25 ∆% Sales Consolidated net revenue 2,082.4 2,058.5 1.2% 3,701.9 3,670.5 0.9% Apparel net revenue 1,894.7 1,795.0 5.6% 3,343.8 3,159.1 5.8% Same store sales - apparel (SSS)¹ (%) 4.1% 17.0% -12.9 p.p. 4.4% 16.1% -11.7 p.p. Same store sales - merchandise (SSS)¹ (%) 0.4% 15.0% -14.6 p.p. 0.6% 14.1% -13.5 p.p. Gross Margin Consolidated (%) 58.1% 56.7% 1.4 p.p. 57.0% 55.5% 1.5 p.p. Apparel (%) 59.1% 58.5% 0.6 p.p. 57.5% 56.8% 0.7 p.p. Merchandise (%) 58.1% 56.3% 1.7 p.p. 56.7% 54.7% 2.0 p.p. Expenses Operating SG&A Post IFRS-16 (735.3) (719.1) 2.3% (1,376.7) (1,334.3) 3.2% % Net Revenue 35.3% 34.9% 0.4 p.p. 3 7. 2 % 36.4% 0.8 p.p. SG&A Pre IFRS-16 (864.2) (841.6) 2.7% (1,634.0) (1,577.2) 3.6% % Net Revenue 41.5% 40.9% 0.6 p.p. 44.1% 43.0% 1.2 p.p. Adjusted EBITDA Post IFRS-16 435.9 438.4 -0.6% 680.6 682.9 -0.3% % Net Revenue 20.9% 21.3% -0.4 p.p. 18.4% 18.6% -0.2 p.p. Pre IFRS-16 307.0 315.9 -2.8% 423.3 440.0 -3.8% % Net Revenue 14.7% 15.3% -0.6 p.p. 11.4% 12.0% -0.6 p.p. Net Income Reported post IFRS-16 17 7.9 200.3 -11.2% 179.6 204.4 -12.1% Adjusted post IFRS-16 130.1 124.7 4.3% 138.1 127. 3 8.5% Investments and ROIC CAPEX 119.6 112.2 6.6% 180.8 152.6 18.5% ROIC LTM 19.9% 20.9% -1.0 p.p. 19.9% 20.9% -1.0 p.p. Operational Data Number of stores 341.0 333.0 2.4% 341.0 333.0 2.4% Average sales area in thousand m² 633.4 618.7 2.4% 633.4 618.7 2.4% Consolidated average ticket price 208.1 213.7 -2.6% 197.7 200.3 -1.3% Average ticket price at C&A Pay 281.6 27 7.0 1.6% 268.2 260.8 2.8% HIGHLIGHTS CONSOLIDATED RESULTS
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RESULTS 2Q26 5RESULTADOS2T26 7 FINANCIAL PERFORMANCE
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RESULTS 2Q26 6 (1) Mainly considersshippingfees from websiteand app sales. (2) Excludesthe commissionfee C&A Pay receivesfrom C&A Modas, which is treatedas intercompanyrevenuefor accountingpurposes. (3) SSS: Same Store Sales – Growth in salesat comparablestores.It consistsof the salesof storesthat have been operatingfor more than 13 monthscomparedto the same period of the previousyear, including e-commerce and all its sales and delivery modalities (100% online, direct sales, Ship from Store, and Click and Collect). Regarding merchandise sales, it is important to note that the telecommunicationskiosks were discontinued. NET REVENUE Net revenue (R$ Million) 2Q26 2Q25 ∆% 6M26 6M25 ∆% Consolidated net revenue 2,082.4 2,058.5 1.2% 3,701.9 3,670.5 0.9% Apparel 1,894.7 1,795.0 5.6% 3,343.8 3,159.1 5.8% Merchandise net revenue 2,003 1,966.5 1.8% 3,544 3,476.2 2.0% Other revenues¹ 1.7 6.3 -73.5% 3.1 12.3 -74.7% Financial services² 78.1 85.6 -8.8% 154.5 182 .1 -15.2% Same store sales performance³ (%) 2Q26 2Q25 ∆% 6M26 6M25 ∆% Apparel 4.1% 17.0% -12.9 p.p. 4.4% 16.1% -11.7 p.p. Merchandise 0.4% 15.0% -14.6 p.p. 0.6% 14.1% -13.5 p.p.
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RESULTS 2Q26 7 Net revenue from Apparel per m2 CAGR 2Q22-2Q26: 8.5% APPAREL The Company maintained its growth trajectory during the quarter, supported by the evolution of its value proposition, commercial discipline, strong winter collection performance, and progress across the three pillars of the Energia strategy: Product, Omni Journey, and Brand & Relationship. In a consumer environment characterized by high interest rates, elevated household indebtedness, and lower customer traffic in stores throughout the World Cup period, apparel net revenue delivered consistentgrowth during the quarter. In 2Q26, apparel net revenue totaled R$ 1.895 billion, an increase of 5.6% compared to 2Q25. On a two-year basis, growth reached 23.9% (2Q26 versus 2Q24), representing an acceleration of 1.2 percentage points relative to the 22.7% recorded in 1Q26 on the same comparisonbasis. This performance was primarily driven by the winter collection, developed through the ongoing Test & Learn initiatives launched last year, which contributedespeciallyto the strong performancein April and May. The evolutionof the product value propositionalso contributedto new fits and more versatile combinations for customers, with highlights in the women's, sportswear,and men's segments. After testing several versions of the Energia concept, the Company consolidatedthe format that now serves as the basis for future renovationsand store openings. At the end of 2Q26, 20 store renovations were underway. Although the renovation process temporarily reduces sales per square meter during implementation, this impact is more than offset by the superior performance observed after reopening, highlighting the quality of the Company's store portfolio. New stores also continued to perform above the levels anticipated in their respectivebusiness cases, reinforcingthe attractivenessof these investments. As a result, quarterly Same Store Sales (SSS) reached 4.1%, despite a strong comparison base of 17.0% in the same period of the previous year. Consequently,apparel net revenue per square meter reached R$ 3.0 thousand during the quarter, an increase of 3.1% versus 2Q25. MERCHANDISE Merchandisenet revenue totaled R$ 2.003 billion in the quarter, representinga 1.8% increase compared to 2Q25. This performance reflects the 5.6% increase in apparel net revenue, partially offset by a 37.1% decline in Electronicsand Beauty net revenue. It is important to note that this reduction in Electronics and Beauty reflects the wind-down of the telecommunicationsoperation completed throughout 3Q25, changes in the tax treatment of Beauty products in the state of São Paulo beginning in April 2026, and a more challenging industry environment during the quarter, marked by a lower level of product launches compared to the same period of the previous year. OTHERREVENUES During the quarter, other revenues, primarily resulting from freight charges on e-commercesales, totaled R$ 1.7 million. Net revenue from Apparel and SSS¹ CAGR 2Q22-2Q26: 9.3% Note: Chart of Net Revenue in millions R$ +23.9% Net Revenue 2Q26 vs. 2Q24 Note: Chart in thousands R$ 1,8951,795 1,5291,3511,329 4.1% 17.0%13.0% 0.7% 35.0% 2Q262Q252Q242Q232Q22 3.02.9 2.5 2.22.2 2Q262Q252Q242Q232Q22 NET REVENUE
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RESULTS 2Q26 8 SITE & APP FINANCIAL SERVICES In 2Q26, merchandise net revenue from the website and mobile app totaled approximately R$ 154.3 million, representing strong growth of 33.3% compared to 2Q25. As a result, e-commerce participation in merchandise revenue increased by 1.9 percentage points year-over-year, reaching approximately 7.7%, reflecting the consistent evolution of the Omni Journey pillar within the Energia C&A strategy. The Company intensified investments in integrated inventory capabilities, creating an even more seamless connection between physical and digital channels. These new capabilities allow customers to locate products in physical stores and check real-time availability directly through the app via Store Mode, including while visiting stores, enhancing convenience and integration. On the digital front, advancements include the development of a new checkout process currently in the testing phase and the increasing maturity of the new website, which features expanded artificial intelligence capabilities. Through Conversational Commerce and the AI Personal Shopper, customers receive personalized assistance throughout their journey, helping them answer questions, select products, and assemble outfits. These initiatives are already generating meaningful business impact, including a 36% increase in conversion rates and a 41% increase in fashion content consumption compared to the previous year. Note: Charts in millions R$ and % (1) Cash payments include payments made with cash, debit card, and Pix (Brazil's instant payment system) Payment methods¹ Net revenue Site & App CAGR 2Q22-2Q26: 16.7% In the quarter, revenue from financial services decreased by 8.8% compared to 2Q25, mainly due to the termination of the partnership with Bradescard in 2Q25, which was partially offset by a 9.4% increase in net revenue from C&A Pay, reaching R$ 93.4 million. Site & App (R$ Million) 2Q26 2Q25 ∆% 6M26 6M25 ∆% Merchandise net revenue (site + app) 154.3 115.7 33.3% 262.8 199.7 31.6% Merchandise net revenue 7.7% 5.9% 1.8 p.p. 7.4% 5.7% 1.7 p.p. Financial Services (R$ Million) 2Q26 2Q25 ∆% 6M26 6M25 ∆% C&A Pay 93.4 85.4 9.4% 180.8 177.3 2.0% Sales penetration (%) 28.2% 27.9% 0.3 p.p. 28.2% 27.9% 0.3 p.p. Bradescard 0.0 15.1 - 0.0 29.4 - Sales penetration (%) 0.0% 1.2% -1.2 p.p. 0.0% 1.2% -1.2 p.p. 154.3 115.7 88.576.883.8 7.7% 5.9%5.2%5.0%5.3% 2Q262Q252Q242Q232Q22 Net revenua Site & App % NR of merchandise 13.0% 20.0% 26.9% 27.9% 28.2%9.0% 5.0% 2.0% 1.2% 49.0% 46.0% 42.5% 42.9% 43.8% 29.0% 29.0% 28.6% 28.0% 28.0% 2Q22 2Q23 2Q24 2Q25 2Q26 C&A Pay Bradescard Third party cards À vista NET REVENUE
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RESULTS 2Q26 9 (1) Mainly considers shipping fees from website and app sales. GROSS PROFIT AND GROSS MARGIN Gross profit & gross margin (R$ Million & %) 2Q26 2Q25 ∆% 6M26 6M25 ∆% Consolidated gross profit 1,210.5 1,166.9 3.7% 2,111.7 2,038.9 3.6% Consolidated gross margin (%) 58.1% 56.7% 1.4 p.p. 57.0% 55.5% 1.5 p.p. Apparel 1,119.3 1,049.8 6.6% 1,924.2 1,795.0 7.2% Gross margin (%) 59.1% 58.5% 0.6 p.p. 57.5% 56.8% 0.7 p.p. Merchandise gross profit 1,162.9 1,108.0 5.0% 2,008.6 1,901.1 5.7% Gross margin (%) 58.1% 56.3% 1.7 p.p. 56.7% 54.7% 2.0 p.p. Other1 (30.5) (26.6) 14.4% (51.4) (44.0) 16.8% Financial services 78.1 85.5 -8.7% 154.5 181.8 -15.0% Gross margin (%) 100.0% 99.9% 0.1 p.p. 100.0% 99.9% 0.1 p.p. Evolution of merchandise gross margin CAGR: 2Q22-2Q26: 10.8% Apparel gross margin continued its consistent expansion trajectory. During the quarter, it increased by 0.6 percentage points compared to 2Q25, reaching 59.1% and marking the twentieth consecutive quarter of apparel gross margin expansion. The Company delivered strong commercial gross margin management during the quarter. The Test & Learn methodology applied to winter categories, combined with the evolution of dynamic pricing algorithms integrated into the Commercial Intelligence Hub, strengthened the Product pillar of the Energia C&A strategy and contributed to higher perceived value of collections, supporting margin expansion. Additionally,the appreciation of the Brazilian Real against the U.S. Dollar also contributedpositivelyto this performance. In 2Q26, merchandise gross margin reached 58.1%, representing an expansion of 1.7 percentage points compared to 2Q25. This result primarily reflects the wind- down of the telecommunications operation and the greater participationof Beauty products in the Company's portfolio. Note: Margin evolution in year-on-year comparisons (YoY); Graph information in millions R$ and % 743 763 882 1,050 1,11955.9% 56.4% 57.7% 58.5% 59.1% 2Q22 2Q23 2Q24 2Q25 2Q26 Gross profit Gross margin
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RESULTS 2Q26 10 (1) Excludes expenses related to loan loss provisions and other operating revenues to facilitate analysis. (2) Includes other operating revenues. OPERATING EXPENSES Post IFRS-16 Pre IFRS-16 Operating expenses (R$ Million) 2Q26 2Q25 ∆% 6M26 6M25 ∆% 2Q26 2Q25 ∆% 6M26 6M25 ∆% Selling expenses (554.0) (523.1) 5.9% (1,027.6) ( 97 7. 5 ) 5.1% (673.6) (637 .9) 5.6% ( 1, 267.1 ) (1, 205.1) 5.1% General and administrative expenses (181.3) (195.9) -7. 5 % (349.1) (356.8) -2.2% (190.6) (203.6) -6.4% (366.9) (372.1) -1.4% Operating expenses¹ (735.3) (719 .1) 2.3% (1,376.7) (1,334.3) 3.2% (864.2) (841.6) 2.7% (1,634.0) (1,577 .2) 3.6% Other operating income (expenses) 66.0 140.8 -53.1% 64.4 1 5 7. 2 -59.0% 66.1 140.8 -53.0% 63.4 149.9 -5 7. 7 % Total operating expenses² (6 69. 2 ) (578.3) 15.7% (1,312.2) (1,177 .1) 11.5% (798.1) (700.8) 13.9% (1,570.6) ( 1 , 4 2 7. 3 )10.0% % of consolidated net revenue 2Q26 2Q25 ∆% 6M26 6M25 ∆% 2Q26 2Q25 ∆% 6M26 6M25 ∆% Selling expenses 26.6% 25.4% 1.2 p.p. 27.8% 26.6% 1.1 p.p. 32.3% 31.0% 1.4 p.p. 34.2% 32.8% 1.4 p.p. General and administrative expenses 8.7% 9. 5% -0.8 p.p. 9.4% 9.7% -0.3 p.p. 9. 2% 9.9% -0.7 p.p. 9.9% 10.1% -0.2 p.p. Operating expenses 35.3% 34.9% 0.4 p.p. 3 7. 2 % 36.4% 0.8 p.p. 41.5% 40.9% 0.6 p.p. 44. 1% 43.0% 1.2 p.p. Total operating expenses 3 2 .1% 2 8 .1% 4.0 p.p. 35.4% 3 2 .1% 3.4 p.p. 38.3% 34.0% 4.3 p.p. 42.4% 38.9% 3.5 p.p. The Company maintained discipline in expense management throughout the quarter, with SG&A growth below inflation despite business expansion and investments aimed at supporting future growth. Pre-IFRS 16 selling expenses totaled R$ 673.6 million in 2Q26, increasing 5.6% compared to 2Q25. This variation primarily reflects higher occupancy costs resulting from new store openings and increased marketing investments aligned with the Brand & Relationship pillar of the Energia C&A strategy. As a percentage of net revenue, selling expenses reached 32.3%, representing pressure of 1.4 percentage points compared to the same period last year. On a post-IFRS 16 basis, selling expenses totaled R$ 554.0 million, increasing 5.9% and representing a 1.2 percentage point pressure on net revenue. General and administrative expenses (G&A) declined under both accounting views. On a pre-IFRS 16 basis, G&A totaled R$ 190.6 million, down 6.4% year-over-year, mainly reflecting lower long-term incentive provisions, which more than offset higher personnel and technology expenses associated with continued investments in internal capabilities, the Energia C&A strategy, technological platform enhancements, and increased processing volumes during the quarter. As a percentage of net revenue, G&A diluted by 0.7 percentage points. On a post-IFRS 16 basis, expenses totaled R$ 181.3 million, down 7.5%, corresponding to a dilution of 0.8 percentage points. Other operating income (expenses) generated net income of R$ 66.0 million. This result was positively impacted by the reversal of approximately R$ 80.7 million in provisions following the reassessment of risks associated with PIS and COFINS tax credits, resulting in a change in loss assessment from probable to possible In the year-on-year comparison, it is worth highlighting that 2Q25 was also benefited by non-recurring effects, mainly related to the sale of the remaining Bradescard portfolio in the amount of R$ 154.3 million. As a result, pre-IFRS 16 SG&A totaled R$ 864.2 million, up 2.7% year-over-year and below inflation. As a percentage of net revenue, SG&A represented 41.5%, an increase of 0.6 percentage points versus the prior year. On a post-IFRS 16 basis, SG&A totaled R$ 735.3 million, increasing 2.3%, equivalent to a 0.4 percentage point pressure on net revenue. It is worth noting that, excluding the impact of the telecommunications operation wind-down and the termination of the Bradescard partnership, SG&A would have diluted by approximately 0.8 percentage points as a percentage of net revenue, highlighting advances in the Company's operational efficiency agenda. Post IFRS-16 CAGR 2Q22-2Q26: 6.1% Pre-IFRS-16 CAGR 2Q22-2Q26: 5.9% Operating Expenses Note: Charts in millions R$ and % 579 549 607 719 735 35.5% 33.4% 33.2% 34.9% 35.3% 2Q22 2Q23 2Q24 2Q25 2Q26 Operating expenses % Net revenue 687 666 723 842 864 42.2% 40.6% 39.5% 40.9% 41.5% 2Q22 2Q23 2Q24 2Q25 2Q26 Operating expenses % Net revenue
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RESULTS 2Q26 11 C&A Pay Bradescard Financial Services Operating expenses (R$ Million) 2Q26 2Q25 ∆% 2Q26 2Q25 ∆% 2Q26 2Q25 ∆% Net revenue from taxes 93.4 85.4 9.4% 0.0 15.1 - 93.4 100.5 -7.0% Cost of funding (8.8) (6.9) 28.2% 0.0 (0.1) - (8.8) (7.0) 26.2% Gross profit 84.6 78.5 7.8% 0.0 15.0 - 84.6 93.5 -9.5% Selling expenses (26.6) (35.8) -25.7% 0.0 (0.6) - (26.6) (36.3) -26.8% General & administrative expenses (2.8) (2.3) 23.6% 0.0 (0.0) - (2.8) (2.3) 22.1% Credit losses, net of recoveries (39.8) (40.2) -0.9% 0.0 - - (39.8) (40.2) -0.9% Other operating income (expenses) 0.0 0.0 - 0.0 154.3 - 0.0 154.3 - Financial services results 15.4 0.3 4,870.4% 0.0 168.7 - 15.4 169.0 -90.9% Despite a still challenging macroeconomic environment for consumption and credit, C&A Pay delivered a positive result of R$ 15.4 million during the quarter. This performance reflects the Company's ability to deepen customer relationships, improve portfolio profitability, and increase spending and purchase frequency while maintaining disciplined credit underwriting practices. This strategy allowed C&A Pay participation levels to remain healthy while increasing revenue by 9.4% compared to 2Q25, reaching R$ 93.4 million in 2Q26. Growth was primarily driven by higher performance in installment sales with interest. At the same time, the flexible cost structure of C&A Pay, combined with efficiency gains in collection strategies, resulted in a 25.7% reduction in selling expenses, which totaled R$ 26.6 million during the quarter. Portfolio quality continued to improve, reflecting disciplined origination policies and the consistency of C&A Pay's credit models, which have allowed the Company to anticipate credit-cycle movements and preserve the quality of new vintages despite a more challenging macroeconomic environment. As a result, recent vintages continued to perform positively, contributing to net losses totaling R$ 39.8 million, a decrease of 0.9% compared to 2Q25. Consequently, the ratio of net loss to average portfolio reached 4.4%, an improvement of 0.4 percentage points year-over-year. It is also worth remembering that in 2Q25 the Company completed the termination of its partnership with Bradescard. As a result, in addition to reacquiring the rights to offer financial products directly to customers, the Company sold the remaining co-branded card portfolio for R$ 170 million, which impacted other operating income (expenses) in 2Q25. FINANCIAL SERVICES Average Ticket C&A Pay portfolio up to 360 days 3,2% 2,9% Nota: Gráficos em R$ milhões (exceto ticket médio) e % 281.6277.0 259.9 249.5 237.3 208.1213.7 198.4198.2 182.9 2Q262Q252Q242Q232Q22 Average Ticket Price C&A Pay Average Ticket Price at C&A 324.5 702.5 914.5 88 8.2 978.8 4.9% 9.3% 7.9% 4.8% 4.4% 2Q22 2Q23 2Q24 2Q25 2Q26 Portfolio Net losses over average portfolio
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RESULTS 2Q26 12 17.8 68.0 65.3 46.0 39.6 5.5% 9.7% 7.1% 5.2% 4.0% 2Q22 2Q23 2Q24 2Q25 2Q26 NPL Formation NPL Formation / 360 Portfolio 324.5 702.5 914.5 88 8.2 978.84.1% 21.4% 19.6% 17.1% 13.4% 2Q22 2Q23 2Q24 2Q25 2Q26 Portfolio Pa st d ue 91-360 dias (NPL) (1) Considers past-due portfolio balances by stage (IFRS 9). Aligned with the Brand & Relationship pillar of the Energia C&A strategy, C&A Pay continues advancing its growth journey through disciplined credit underwriting and a focus on increasing spending intensity within its active customer base. In 2Q26, the credit portfolio up to 360 days grew 10.2%, while the portfolio up to 720 days increased 6.0%, reflecting sustainable growth aligned with the operation's quality-focused retail strategy. Even within a more challenging consumer environment, C&A Pay remained resilient as a payment method, representing 28.2% of retail sales in the quarter, with only a slight variation of 0.3 percentage points year-over-year. Disciplined origination practices and selective credit models continued to support improvements in risk indicators. The formation of NPL 90, represented by balances overdue between 90 and 360 days, continued to improve compared to the previous year, driven by the strong performance of recent vintages. As a result, NPL 90 ended the quarter at 13.4% of the 360-day portfolio, declining 3.7 percentage points versus 2Q25. Coverage of overdue balances between 91 and 360 days remained at comfortable levels, reaching 113.8% at quarter-end. This indicator reflects the Company's prudent risk management approach and reinforces the resilience of its portfolio despite a more challenging credit environment. NPL Formation C&A Pay portfolio up to 360 days FINANCIAL SERVICES Note: Charts in millions R$ and % C&A Pay 2Q26 2Q25 ∆% Portfolio 720 1,139.7 1,075.3 6.0% Portfolio 360 978.8 888.2 10.2% Share on retail sales 28.2% 27.9% 0.3 p.p. New digital cards ('000) 415.4 464.7 -10.6% Total digital cards ('000) 9,837.6 8,009.3 22.8% Coverage index¹ over past due > 91 - 720 days 101.6% 100.9% 0.7 p.p. over past due > 91 - 360 days 113.8% 105.5% 8.3 p.p.
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RESULTS 2Q26 13 Despite the expansion of consolidatedgross margin during the quarter, the Company did not record an improvementin adjusted EBITDA margin, primarily due to the wind-down of the telecommunications operation and the termination of the Bradescard partnership, both of which impacted the revenue base and reduced the operating expense dilution effect during the quarter. Excluding these effects,the Company would have reported a slight increase in quarterly margin. As a result, pre-IFRS 16 adjusted EBITDA totaled R$ 307.0 million in 2Q26, with a margin of 14.7%, representing a reduction of 0.6 percentagepoints versus 2Q25. On a post-IFRS 16 basis, adjusted EBITDA reached R$ 435.9 million, corresponding to a margin of 20.9%, down 0.4 percentage points versus 2Q25. Adjusted EBITDA (R$ millions) and Margin (%) CONSOLIDATED EBITDA EBITDA Post IFRS-16 CAGR 2Q22-2Q26: 15.4% Pre IFRS-16 CAGR 2Q22-2Q26: 22.2% Note: Charts in millions R$ and % R$ Million & % 2Q26 2Q25 ∆% 6M26 6M25 ∆% Net income 1 7 7.9 200.3 -11.2% 1 79.6 204.4 -12 .1% (+) Income taxes 70.4 91.9 -23.4% 60.4 84.4 -28.5% (+/-) Financial results, net 73.8 87.1 -15.3% 133.0 164.2 -19.0% (+) Depreciation & amortization 179.4 169.2 6.0% 359.1 339.0 5.9% EBITDA (post-IFRS 16) 501.5 548.5 -8.6% 732.0 792.0 -7. 6% (+) Other operating income (expenses) (65.0) (138.2) -53.0% (62.3) (146.9) -57.6% (+) Financial income from suppliers 5.3 1.9 171.9% 10.0 2.8 250.6% (-) Recovery of tax credits (1.1) (2.6) -59.1% (2.1) (10.3) -79.2% (+) Long term incentive (4.8) 28.8 - 3.1 45.3 -93.2% Adjusted EBITDA (post-IFRS 16) 4 35.9 438.4 -0.6% 680.6 682 .9 -0.3% % Net revenue 20.9% 21.3% -0.4 p.p. 18.4% 18.6% -0.2 p.p. EBITDA (pre-IFRS 16) 372.6 426.0 -12.5% 473.6 541.8 -12.6% Adjusted EBITDA (pre-IFRS 16) 3 0 7. 0 315.9 -2.8% 423.3 440.0 -3.8% % Net revenue 14.7% 15.3% -0.6 p.p. 11.4% 12.0% -0.6 p.p. Adjusted E BITDA Adjusted E BITDA margin 246 279 360 438 436 15.1% 17.0% 19.6% 21.3% 20.9% 2Q22 2Q23 2Q24 2Q25 2Q26 Pre-IFRS adjusted E BITDA Pre-IFRS adjusted E BITDA margin 138 161 243 316 3078.4% 9.8% 13.3% 15.3% 14.7% 2Q22 2Q23 2Q24 2Q25 2Q26
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RESULTS 2Q26 14 The expansion of gross margin and disciplined expense management partially offset the impacts arising from the wind-down of the telecommunications operation, which affected the Company's revenue mix. As a result, pre-IFRS 16 adjusted EBITDA totaled R$ 282 million in 2Q26, with a margin of 14.1%, representing a decrease of 0.8 percentage points compared to the same period of the previous year. On a post-IFRS 16 basis, Retail adjusted EBITDA reached R$ 411.7 million, corresponding to a margin of 20.5%. (1) Excludes the cost of funding for the financial operation, as this amount does not impact the company's consolidated results but is recorded as a cost within C&A Pay. RETAIL OPERATION Post IFRS-16 CAGR 2Q22-2Q26: 12.8% Pre IFRS-16 CAGR 2Q22-2Q26: 18.0% EBITDA Note: Charts in millions R$ and % Adjusted EBITDA (R$ millions) and Margin (%) R$ Million & % 2Q26 2Q25 ∆% 6M26 6M25 ∆% Adjusted EBITDA (post-IFRS 16) 4 35.9 438.4 -0.6% 680.6 682 .9 -0.3% (+/-) Financial services results¹ (24.3) (21.6) 12.3% (55.5) (60.9) -8.8% Retail Adjusted EBITDA (post-IFRS 16) 411.7 416.8 -1.2% 625.1 622.0 0.5% Retail Adjusted EBITDA margin (post-IFRS 16) 20.5% 21.1% -0.6 p.p. 1 7. 6% 17 .8% -0.2 p.p. Adjusted EBITDA (pre-IFRS 16) 3 0 7. 0 315.9 -2.8% 423.3 440.0 -3.8% (+/-) Financial services results¹ (24.3) (21.6) 12.3% (55.5) (60.9) -8.8% Retail Adjusted EBITDA (post-IFRS 16) 282.7 294.3 -3.9% 367.7 379.1 -3.0% Retail Adjusted EBITDA margin (post-IFRS 16) 14.1% 14.9% -0.8 p.p. 10.4% 10.9% -0.5 p.p. 254 300 348 417 412 16.1% 19.3% 20.3% 21.1% 20.5% 2Q22 2Q23 2Q24 2Q25 2Q26 Adjusted E BITDA Adjusted E BITDA margin 146 183 232 294 2839.3% 11.8% 13.5% 14.9% 14.1% 2Q22 2Q23 2Q24 2Q25 2Q26 Pre-IFRS adjusted E BITDA Pre-IFRS adjusted E BITDA margin
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RESULTS 2Q26 15 Financial expenses totaled R$ 117.4 million, representing a reduction of 21.9% year-over-year. This performance was primarily driven by a 30.3% decrease in interest expenses on borrowings, reflecting the 26.2% reduction in gross debt during the period. Additionally, the termination of the Bradescard partnership eliminated the recognition of financial charges within the supplier line, which had contributed R$ 21.4 million in 2Q25. Financial income totaled R$ 40.7 million during the quarter, down 39.2% compared to 2Q25. The decline mainly reflects lower monetary adjustment income on tax credits following the monetization of these assets over the period. Income from financial investments also declined due to a lower average cash position resulting from debt repayments. These effects were partially offset by efficient treasury management and improved performance of the securities portfolio. As a result, the Company recorded net financial expense of R$ 73.8 million during the quarter, representing an improvement of 15.3% compared to 2Q25. FINANCIAL RESULT Note: Charts in millions R$ and % R$ Million 2Q26 2Q25 ∆% 6M26 6M25 ∆% Exchange rate variation 3.0 (3.6) - 5.3 (1.4) - Financial expenses (117 .4) (150.4) -21.9% ( 238.9) (296.8) -1 9. 5% Interest expenses (34.3) (49.2) -30.3% (69.4) (98.0) -29.2% Leasing interest expenses (46.7) (43.1) 8.4% (93.2) (86.4) 7.8% PVA on suppliers (28.6) (28.0) 2.2% (61.6) (54.1) 13.9% Interest expenses over suppliers - Bradescard 0.0 (21.4) -100.0% 0.0 (42.1) - Interest expenses on taxes and contingencies (5.8) (6.4) -9.3% (11.0) (11.4) -3.4% Other financial expenses (2.0) (2.3) -12.7% (3.7) (4.7) -22.7% Financial income 40.7 66.9 -39. 2% 100.6 133.9 -24.9% Monetary correction of tax credits 15.7 21.2 -25.8% 33.6 46.8 -28.1% Interest on financial investments 14.3 34.7 -58.9% 32.7 66.7 -50.9% Earnings from Bonds and Securities 9.5 8.9 7. 2% 21.9 18.6 17.6% Other financial income 1.1 2.1 -45.5% 12.4 1.8 570.8% Financial results, net (73.8) ( 8 7.1 ) -15.3% (133.0) (164.2) -1 9.0%
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RESULTS 2Q26 16 -8.4 3.2 58.1 124.7 130.1 -0.5% 0.2% 3.2% 6.1% 6.2% 2Q22 2Q23 2Q24 2Q25 2Q26 (1) Post-IFRS net income (2) Adjustmentsinclude: (i) Other net operating income (expenses); (ii) Financial income from suppliers; (iii) Tax credit recovery; and (iv) social charges related to the long- term incentiveprogram paid. Reported net income totaled R$ 177.9 million in 2Q26, corresponding to a net margin of 8.5%, compared to R$ 200.3 million in 2Q25. Although the quarter benefited from the reversal of approximately R$ 80.7 million in provisions, the year-over-year comparison was negatively affected by the high comparison base of 2Q25, which included R$ 154.3 million related to the sale of the Bradescard portfoliofollowingthe terminationof the partnership. Excluding non-recurring effects, including the provision reversal recorded in 2Q26 and approximatelyR$ 5 million associated with the long-term incentive plan, adjusted net income reached R$ 130.1 million, with a net margin of 6.2%. This represents a 4.3% increase compared to 2Q25 and reflects the Company's operationalprogress throughoutthe period. Adjusted net income (loss) (R$ million) and margin (%) NET INCOME Note: Charts in millions R$ and % Net income (loss) (R$ Million) 2Q26 2Q25 ∆% 6M26 6M25 ∆% Net income (loss) 177.9 200.3 -11.2% 179.6 204.4 -12.1% % Net revenue 8.5% 9.7% -1.2 p.p. 4.9% 5.6% -0.7 p.p. Adjusted net income (loss) 130.1 124.7 4.3% 138.1 127.3 8.5% % Net revenue 6.2% 6.1% 0.2 p.p. 3.7% 3.5% 0.3 p.p.
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RESULTS 2Q26 17 (1) Post-IFRS net income (2) Adjustmentsinclude: (i) Net other operating income (expenses); (ii) Financial income from suppliers; (iii) Tax credit recovery; and (iv) social charges related to the long- term incentiveprogram paid. The Company maintained a solid capital structure during the quarter, supported by the continuous reduction of gross debt and a comfortable liquidity position. Gross debt ended 2Q26 at R$ 952.2 million, representing a reduction of 26.2% compared to the same period of the previous year, reflecting the strategy to optimize the capital structure and contributing to lower financial expenses. Cash, cash equivalents, and financial investments totaled R$ 782.0 million at quarter-end. As a result, net debt was reduced to R$ 170.2 million, while leverage remained at conservative levels, reaching 0.2x pre-IFRS 16 Adjusted EBITDA over the last twelve months. The debt amortization profile remains balanced, with no significant short-term maturities. Combined with the Company's cash position, this profile provides substantial financial flexibility to support growth initiatives and capture value-creation opportunities. The combination of low leverage, strong liquidity, and a well-distributed debt schedule reinforces the Company's financial strength and its ability to maintain disciplined capital allocation while preserving flexibility to continue investing in business development. Below is a schedule for debt amortization and a graph showing the evolution of net debt and leverage: INDEBTEDNESS Note: Charts in millions R$ and % (1) 2Q22 and 2Q23 include receivables anticipation. R$ Million 2Q26 2Q25 ∆% Short-term debt 143.7 447.9 -67.9% Long-term debt 808.5 842.6 -4.0% Gross debt 952.2 1,290.4 -26.2% (-) Cash, cash equivalents & short-term investments¹ 782.0 1,003.9 -22.1% (=) Debt cash (170.2) (286.6) -40.6% LTM Adjusted EBITDA pre-IFRS16 1,063.1 1,108.8 -4.1% Leverage¹ 0.2x 0.3x -0.1x Total net debt and leverage1 1,227 1,254 1,071 286 170 5.6x 3.1x 1.4x 0.3x 0.2x 2Q22 2Q23 2Q24 2Q25 2Q26 To ta l net deb t Leverage Debt Amortization Schedule 14 14 14 496 80 23394 510 247 33 33 2026 2027 2028 2029 2030 2nd Debenture Issuance 3rd Debenture Issuance 5th Commercial notes 4th Debenture Issuance
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RESULTS 2Q26 18 In 2Q26, working capital consumption totaled R$ 208.1 million, compared to an adjusted consumption of R$ 60.6 million in 2Q25 (excluding non-recurring effects related to the former Bradescard portfolio), representing a 242.6% increase. This movement is reflected in the cash conversion cycle, which increased by approximately 19 days versus 2Q25. This variation was primarily driven by inventories, which increased by 18 days year-over-year and resulted in a cash consumption of R$ 20.1 million, compared to R$ 8.6 million in 2Q25.The increase in inventory days was mainly driven by: (i) the discontinuation of the mobile phone category, which historically had high inventory turnover and positively impacted the inventory cycle in 2Q25; (ii) an exceptionally low apparel inventory base in 2Q25; (iii) lower-than-expected customer traffic in June due to the effects of the FIFA World Cup; and (iv) the acceleration of the Company's store expansion plan. In accounts receivable, there was a modest increase of 3 days, primarily driven by the higher penetration of installment sales with interest through C&A Pay, which naturally extends the average collection period. This effect was partially offset by a 2-day increase in accounts payable. As a result of these dynamics, the Company generated R$ 148.8 million in operating cash flow during the quarter, a decrease of 44.5% compared to the adjusted R$ 268.3 million generated in 2Q25.Cash flow used in investing activities totaled R$ 85.2 million in the quarter, an increase of 2.1% compared to R$ 83.4 million in 2Q25, reflecting the pace of store expansion and other strategic initiatives. As a result, adjusted free cash flow totaled R$ 63.6 million, a decrease of 65.6% compared to the adjusted R$ 185.0 million reported in 2Q25.Within financing activities, the main highlight of the quarter was the continuation of the Company's share repurchase program, with approximately R$ 64.3 million invested in share buybacks. As a result, the Company reported a cash consumption of R$23.8 million during the quarter. CASH FLOW CASH FLOW R$ Million 2Q26 2Q25 Bradescard Adjustments 2Q25 Adjusted ∆% Pre-IFRS16 net income (losses) before Income Taxes and Social Contribution 253.6 2 9 7.6 (154.3) 143.3 7 7.0 % Depreciation and amortization 91.9 84.3 84.3 9.0% (+/-) Other 20.3 119.2 119.2 -83.0% Adjustments with no impact on cash 112.2 203.6 203.6 -44.9% Income Tax and Social Contribution paid (9.0 ) ( 1 7.9 ) ( 1 7.9 ) -49.9% Working capital ( 2 0 8 .1 )(695.6) 635.0 (60.6) 243.4% Accounts receivable (362.9) (265.2) (265.2) 36.9% Inventory (20.1) (8.6) (8.6) 135.3% Suppliers 78.1 152.5 152.5 -48.8% Bradescard Suppliers 0.0 (650.6) 650.6 0.0 - Other 96.8 76.3 (15.7) 60.6 59.8% Cash from (used in) operating activities 148.8 (212.3) 480.6 268.3 -44.5% Cash flow from investing activities (85.2) (83.4) (83.4) 2 .1% (=) Adjusted free cash flow 63.6 (295.6) 480.6 185.0 -65.6% Cash flow generated (used) in financing activities - (221.4) (650.6) (872.0) - Cash flow generated (used) in financing activities ( 8 7. 4 ) (517 .0) ( 6 8 7.1 ) -8 7. 3 % Bradescard portfolio assignment - 0.0 170.0 170.0 - (Use) Cash generation (23.8) (517 .0) (517 .0) -95.4%
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RESULTS 2Q26 19 At the end of 2Q26, cash, cash equivalents, and financial investments totaled R$ 782.0 million. The reduction of R$ 23.8 million versus the previous quarter reflects the combination of R$ 148.8 million in operating cash generation and the execution of the Company's capital allocation priorities. These priorities included R$ 85.2 million in investments focused on business growth, such as store renovations and openings, as well as R$ 64.3 million in share repurchases during the quarter, which are recorded within financing activities. ADJUSTED CASH FLOW Note: Operatingcashflow excludesleaseinterestand principal; the final cashpositionincludessecurities. CASH FLOW -85.2 -87.4 782.0805.7 148.8 Cash at the end of 1Q26 Operating CAPEX Financing¹ Cash at the end of 2Q26
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RESULTS 2Q26 20 In line with the Energia C&A strategy, the Company invested R$ 119.6 million in 2Q26, representing growth of 6.6% compared to 2Q25. Investments during the quarter were primarily directed toward the Journey pillar, focused on the expansion and modernization of the store network. Supply chain improvements and digital and technological transformation initiatives also represented significant investment priorities. During the period, two Energia-format stores were opened in Norte Shopping and Neumarkt Shopping, both in Santa Catarina, while the first Ace store was inaugurated at Shopping Ibirapuera in São Paulo. Additionally, one expansion and two strategic store renovations were completed across the network, including the expansion of the Rio Mar Shopping store in Pernambuco and the renovations of the stores located in Ibirapuera and Florianópolis shopping malls. Within the supply chain, the Company continued advancing automation and mechanization initiatives within its distribution centers, particularly through the expansion of operational capacity at the São Paulo Distribution Center and investments in the Northeast Distribution Center. Investments in this category increased 258.8% compared to 2Q25. In Digital and Technology, investments totaled R$ 36.4 million in 2Q26, reflecting progress in important transformation and operational efficiency initiatives. Key highlights included the continued evolution of the Commercial Intelligence Hub (CIH) and the expansion of self-checkout implementation, which is now available in 45% of the Company's stores. CAPEX Store portfolio INVESTMENTS ROIC LTM Investments (R$ Million) 2Q26 2Q25 ∆% 6M26 6M25 ∆% New stores 16.5 10.1 62.4% 24.4 19.3 26.4% Revamps and remodeling 52.4 62.8 -16.6% 68.9 74.9 -8.0% Supply chain 14.3 4.0 258.8% 28.2 5.2 438.6% Digital and technology 36.4 35.3 3.3% 59.3 53.2 11.5% Total 119.6 112.2 6.6% 180.8 152.6 18.5% 113.7 55.7 57.2 112.2 119.6 7.0% 3.4% 3.1% 5.5% 5.7% 2Q22 2Q23 2Q24 2Q25 2Q26 CAPEX Net revenue 1 282 286 286 288 296 47 47 45 45 45 329 333 331 333 342 2Q22 2Q23 2Q24 2Q25 2Q26 Ace C&A - Shopping C&A - Street 11.1% 2.6% 8.8% 20.9% 19.9% 2Q22 2Q23 2Q24 2Q25 2Q26 Note: Charts in R$ millions (except store portfolio) and %
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RESULTS 2Q26 21 ANNEX
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RESULTS 2Q26 22 R$ Million & % 2Q26 2Q25 ∆% Net income 1 7 7.9 200.3 -11.2% (+) Income taxes 70.4 91.9 -23.4% (+/-) Financial results, net 73.8 87.1 -15.3% (+) Depreciation & amortization 179.4 169.2 6.0% EBITDA (post-IFRS 16) 501.5 548.5 -8.6% (+) Other operating income (expenses) (65.0) (138.2) -53.0% (+) Financial income from suppliers 5.3 1.9 171.9% (-) Recovery of tax credits (1.1) (2.6) -59.1% (+) Long term incentive (4.8) 28.8 - Adjusted EBITDA (post-IFRS 16) 4 35.9 438.4 -0.6% % Net revenue 20.9% 21.3% -0.4 p.p. EBITDA (pre-IFRS 16) 372.6 426.0 -12.5% Adjusted EBITDA (pre-IFRS 16) 3 0 7. 0 315.9 -2.8% % Net revenue 14.7% 15.3% -0.6 p.p. EBITDA (PRÉ -IFRS 16)
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RESULTS 2Q26 23 R$ Million 2Q26 4Q25 Total assets 8,721.9 9,318.6 Current assets 4,197.4 4,559.8 Cash and cash equivalents 540.7 774.5 Bonds and securities 241.3 268.9 Trade receivables 1,514.7 1,753.3 Inventory 1,309.9 1,154.9 Taxes recoverable 482.7 460.2 Derivatives 1.0 2.6 Income tax and social contribution recoverable 29.9 109.3 Other Assets 77.3 36.2 Non-Current Assets 4,524.5 4,758.8 Financial Investments 0.0 0.0 Income tax and social contribution recoverable 13.0 0.0 Taxes recoverable 521.4 791.4 Deferred taxes 529.5 489.7 Judicial deposits 93.5 91.4 Derivatives - LT 0.0 0.0 Other assets 4.4 4.6 Investments 0.0 0.0 Properties and equipment 1,089.6 1,057.4 Right-of-use assets - leases 1,460.5 1,474.5 Intangible assets 812.7 849.7 Total assets 8.721,9 9.318,6 Current liabilities 2.511,4 3.116,2 Lease liabilities 366,0 372,7 Suppliers 1.152,2 1.324,8 Dividends and IOC 139,8 139,8 Drawee risk liabilities 281,7 421,2 Suppliers buying back the right to offer credit (Bradescard) 0,0 0,0 Loans 140,9 139,8 Derivatives 3,8 1,8 Labor liabilities 278,4 293,6 Taxes payable 71,4 283,5 Income tax and social contribution payable 54,1 102,5 Other liabilities 23,2 36,5 Non-current liabilities 2.407,4 2.495,4 Lease liabilities 1.410,2 1.407,5 Suppliers 0,0 0,0 Suppliers buying back the right to offer credit (Bradescard) 0,0 0,0 Loans 808,5 820,7 Derivatives - LT 0,0 0,0 Labor liabilities 10,2 16,2 Provisions for tax, civil, and labor risks 123,7 186,6 Taxes payable 3,2 14,3 Other liabilities 51,6 50,2 Shareholder’s equity 3.803,1 3.707,1 Share capital 1.847,2 1.847,2 Shares in Treasury (76,6) (48,2) Capital reserve 0,0 39,2 Accumulated gains (losses) 165,6 0,0 Profit reserve 1.868,2 1.868,2 Other comprehensive income (1,3) 0,6 BALANCE SHEET
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RESULTS 2Q26 24 R$ Million 2Q26 2Q25 ∆% Net operating revenue 2.082.4 2.058.5 1.2% Apparel 1.894.7 1.795.0 5.6% Fashiontronics and Beauty 107.9 171.5 -37.1% Net revenue from goods 2.002.6 1.966.5 1.8% Other revenue 1.7 6.3 -73.5% Retail revenue 2.004.3 1.972.9 1.6% Financial services 78.1 85.6 -8.8% Cost of goods/services (871.9) (891.6) -2.2% Gross profit 1.210.5 1.166.9 3.7% Apparel 1.119.3 1.049.8 6.6% Fashiontronics and Beauty 43.6 58.2 -25.1% Gross profit from goods 1.162.9 1.108.0 5.0% Other gross profit (30.5) (26.6) 14.4% Gross profit from retail 1.132.4 1.081.4 4.7% Gross profit from financial services 78.1 85.5 -8.7% Operating (expenses) and revenue (888.4) ( 7 8 7. 6 ) 12.8% General and administrative (181.3) (195.9) -7. 5% Selling expenses (554.0) (523.1) 5.9% Depreciation and amortization (179.4) (169.2) 6.0% Other net operating income (expenses) 66.0 140.8 -53.1% Net credit losses (39.8) (40.2) -0.9% Profit before Financial Revenue and Expenses 322 .1 3 79. 3 -15.1% Finance results (73.8) ( 8 7.1 ) -15.3% Exchange variation 3.0 (3.6) -182.1% Finance expenses (117.4) (150.4) -21.9% Finance income 40.7 66.9 -39.2% Profit before taxes 248.3 292.2 -15.0% Income taxes (70.4) (91.9) -23.4% Net income (losses) for the period 1 7 7.9 200.3 -11.2% DRE
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RESULTS 2Q26 25 DFC R$ Million 6M26 6M25 Operating activities Allowance for expected credit losses 239.9 288.8 Adjustments to reconcile income before income taxes to net cash flows: Allowance (reversal) for expected credit losses 63.7 52.1 Provisions for inventory losses 62.4 45.3 Gains/Recognition of tax claims, including monetary correction (28.8) (36.5) Depreciation and amortization 182.9 170.1 Losses from the sale or disposal of property and equipment and intangible assets 0.0 0.0 Right-of-use amortization 193.1 185.2 Interest and monetary and foreign exchange variations 147.9 222.9 Interest on Related-Party Loans 0.0 0.0 Foreign exchange variation on loans 0.0 0.0 Provisions (reversal) for tax, civil and labor risks (48.1) 21.3 Others 9.3 9.4 Amortization of the transaction costs on loans 0.0 0.0 Foreign exchange variation on related parties loans 0.0 0.0 Variations in assets and liabilities: Trade receivables 178.5 368.3 Related parties 0.0 0.0 Inventory (217.8) (181.9) Taxes recoverable 342.7 224.8 Other credits (40.9) (44.1) Bonds and securities 49.0 16.7 Judicial deposits 1.8 21.0 Suppliers (112.2) (30.0) Bradescard Supplier 0.0 (650.6) Drawee risk liabilities (139.6) (79.2) Labor liabilities (37.2) (31.7) Other liabilities (12.8) (6.5) Provisions for tax, civil and labor risks (14.8) (29.3) Taxes payable (334.6) (206.6) Income Tax and Social Contribution paid (36.0) (61.0) Cash flow originating (invested in) operating activities 448.6 268.5 Purchase of property and equipment (176.8) (144.8) Purchase of intangible assets (70.4) (73.4) Receivables from the sale of property and equipment 0.0 0.0 Cash flow used in investment activities (247.2) (218.2) New loans and debentures issued 0.0 0.0 Loan/debenture transaction costs 0.0 (0.3) Repayment of loans (principal) (13.7) (228.4) Interest paid on loans (68.3) (89.2) Repayments and interest paid on leases (282.8) (266.9) Share buy-back (70.4) (36.0) Net cash flows originating from (used by) financing activities (435.2) (620.8) Net increase (decrease) in cash and cash equivalents (233.8) (570.5)
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RESULTS 2Q26 26 Expression Meaning 1P Merchandise in our own inventory marketed by our e-commerce. 3P Third-party (seller) goods marketed by our e-commerce. CAC Customer Acquisition Costs Click and Collect A solution whereby customers can buy online and pick up their merchandise at one of our B&M stores. Galeria C&A C&A’s marketplace. GMV Total transactions on our e-commerce site in Reals (R$). Includes 1P and 3P. Lead time This is the time it takes for raw materials or goods to be delivered to C&A from the supplier once they are ordered. MAU Monthly Active Users measures how many users used our app for any action in the past 30 days. Mindse7 Launched in November 2018, Mindse7 is a digital native project that presents weekly collections inspired on the main conversations and trends on the streets and on social networks, using a co-creation model between a multidisciplinary team comprised of C&A and its suppliers. Focusing on versatile, timeless items aligned to the desires of Brazilian women, it has already launched some 200 collections, always focusing on innovative offerings of diverse and inclusive fashion for all styles, bodies and ages. Push and pull A supply model that consists in replacing individual SKUs of different models, sizes and colors in our B&M stores according to demand, making service to the demand for our fashion items more efficient. RFID RFID (Radio-Frequency Identification) - enables identifying and locating each SKU in both stores and Distribution Centers. RFS Retail Financial Services Seller Partner sellers who offer their merchandise on our marketplace. Ship from Store Transforms B&M stores into distribution centers, shipping merchandise purchased on our e-commerce directly to customers. SKU Stock keeping unit Social selling A process whereby relationships are developed. and sales made using social networks. Sorter Individual sorting/picking equipment. SSS Growth in same store sales. This is comprised of sales in stores in activity for more than 13 months compared to the same period in the previous year. It includes e-commerce and all types of sales and deliveries (100% online, ship-from-store, and click-and-collect). Supply Supply chain. WhatsApp sales A type of online sale where C&A associates interact with customers using WhatsApp. WMS Warehouse management system, an inventory management tool. GLOSSARY
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RESULTS 2Q26 27 C&A was founded in 1841 by the Dutch brothers Clemens and August, whose initials gave rise to the brand’s name. C&A pioneered ready-to-wear clothing and is now one of the largest fashion retail chains in the world. In Brazil, the Company has been present since 1976, when it opened its first store at Shopping Ibirapuera in São Paulo. Today, C&A operates more than 340 stores across its portfolio, predominantly located in shopping malls. Its stores are present in every Brazilian state, totaling approximately 620 thousand square meters of selling space, in addition to its digital operations. To support this scale, the Company relies on a network of qualified suppliers, with approximately 70% of its production sourced domestically. Sales are focused on fashion products, including apparel and beauty categories. Today, apparel accounts for approximately 90% of the Company’s revenue, while Beauty products continue to gain relevance within the portfolio. Listed on the Brazilian stock exchange (B3) since October 2019, C&A continues its consistent growth trajectory, striving to provide an increasingly relevant omnichannel experience for its customers. With more than 15,000 associates across the country, the Company stands out for offering fashion products with strong perceived value among customers. In December 2021, C&A launched C&A Pay, its proprietary credit solution, which currently accounts for 28.2% of retail sales. ri@cea.com.br ABOUT C&A