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RESULTS 3Q26 1 RESULTS 3Q26 1 EARNINGS PRESENTATION 3Q26
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RESULTS 3Q26 2 Constant Evolution, the same purpose Impacting people so they can be who they want to be through fashion 2019 2024 A new sustainable growth curve 2026 Fashion Tech IPO Time Revenue growth 2030 Full Power Energia
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RESULTS 3Q26 3 FULL POWER BOOSTING ENERGIA'S DRIVERS AND NEW GROWTH LEVERS 01 Product 02 Omnichannel Journey 03 Relationship 04 Store Expansion 05 New Businesses Technology Logistics and Replenishment People and ESG RESULTS 3Q26 3 BRAND Growth levers Enablers
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RESULTS 3Q26 4 OUR AMBITIONS FOR THE 2027 – 2030 CYCLE BRAND Growth levers 01 Product • Speed • Quality • Accuracy 02 Omnichannel Journey • Energia store renovations • Dispersão project • Omnichannel sales • More omni customers 03 Relationship • Hyper - personalization • Loyalty • C&A Pay and testing of other products 04 Store Expansion 05 New Businesses • Ace and complementary businesses Enablers Technology Competitive edge +Productivity +Intelligence +Return on capital Logistics and Replenishment Regionalization +Proximity +Agility +Investment efficiency People and ESG New capabilities Strengthen culture Circularity RESULTS 3Q26 4 • New stores under the Energia format Focus on cash generation and return on investments Modular implementation Expense discipline and control
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RESULTS 3Q26 5 RESULTS 3Q26 5 OPERATING PERFORMANCE 3Q26 56.0% 21st consecutive quarter of apparel gross margin expansion +27.6% Site & app revenue, reaching an 8.0% share 0.2x Leverage¹ in the quarter, even after paying R$ 140 million in interest on equity and more than R$ 100 million in share buybacks year to date 18.0% ROIC² LTM 3Q26, above the Company's cost of capital (1) Measured by the ratio of net debt to pre - IFRS 16 EBITDA (2) ROIC calculated based on adjusted net income for the last four quarters. 2.6% Growth in apparel net revenue R$191.2MI Pre - IFRS 16 adjusted EBITDA, a decrease of 8.4%
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RESULTS 3Q26 6 STRATEGY EXECUTION RESULTS 3Q26 6
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RESULTS 3Q26 7 RESULTS 3Q26 7 PRODUCT Test & Learn • 3,000+ tests over the past year • Versatile summer collection, designed for different occasions Dynamic pricing • Algorithm evolution • 21st consecutive quarter of apparel gross margin expansion New menswear journey • Journey reorganized by occasion of use • Simpler journey, with a better service level Logistics • Start of operations at the Northeast DC • Hubs with higher replenishment frequency • Push & Pull expanded to 55%
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RESULTS 3Q26 8 RESULTS 3Q26 8 OFFLINE JOURNEY 3 openings under the Energia format • Av. Paulista, São Paulo/SP • Shopping Butantã, São Paulo/SP • Shopping Iguatemi, São José do Rio Preto/SP 18 renovations under the Energia format • 8 renovations delivered by the end of 3Q26 • 10 underway, scheduled for early 4Q26 Technology • Self - checkout expanded to nearly 50% of the store network
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RESULTS 3Q26 9 RESULTS 3Q26 9 PRODUCT ONLINE JOURNEY Energia took site & app from 4.5% to 8.0% of sales and placed C&A among the pioneers in the use of AI Shopping experience Two - click checkout Social commerce +89% with Minha C&A (~180,000 consultants) and TikTok Shop debut New features +43% conversion on site & app
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RESULTS 3Q26 10 RESULTS 3Q26 10 BRAND & RELATIONSHIP 50 - year celebration • Jeans Week • More sustainable 100% denim runway show Special collections • Collab with Gustavo Silvestre • 5 capsules telling the story of our brand Rock in Rio • Bringing the brand closer to customers • +700,000 people
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RESULTS 3Q26 11 NEW BUSINESSES • New stores at Bourbon (SP) and Barra (RJ ), testing different sizes and regions • +3 stores planned for 4Q26 • Brand app launch scheduled for 4Q26 RESULTS 3Q26 11
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RESULTS 3Q26 12 RESULTS 3Q26 12 FINANCIAL PERFORMANCE
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RESULTS 3Q26 13 RESULTS 3Q26 13 MERCHANDISE NET REVENUE R$ millions and % Apparel grows 2. 6 % in 3Q26, with continuity collections accelerating from September onward Merchandise Apparel +1.3% 3Q26 vs. 3Q25 +2.6% 3Q26 vs. 3Q25 1,329 1,450 1,677 1,769 1,793 0.0% 9.1% 16.1% 4.8% - 0.1% 3Q22 3Q23 3Q24 3Q25 3Q26 Merchandise Same store sale 1,134 1,277 1,514 1,649 1,691 0.9% 12.5% 18.9% 8.1% 1.0% 3Q22 3Q23 3Q24 3Q25 3Q26 Apparel Same store sale
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RESULTS 3Q26 14 Site & app revenue grows 27.6% and reaches an 8.0% share, +1.6 p.p. vs. 3Q25 RESULTS 3Q26 14 SITE & APP NET REVENUE R$ millions and % 62.4 62.9 94.6 112.2 143.2 4.7% 4.3% 5.6% 6.3% 8.0% 3Q22 3Q23 3Q24 3Q25 3Q26 Net revenue digital % of merchandise net revenue
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RESULTS 3Q26 15 RESULTS 3Q26 15 21st consecutive expansion in apparel gross margin, reaching 56.0% +0.6 p.p. 3Q26 vs. 3Q25 +0.6 p.p. 3Q26 vs. 3Q25 MERCHANDISE GROSS MARGIN Figures in % Merchandise Apparel 47.8% 50.4% 52.7% 54.6% 55.2% 3Q22 3Q23 3Q24 3Q25 3Q26 51.8% 54.1% 55.1% 55.4% 56.0% 3Q22 3Q23 3Q24 3Q25 3Q26
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RESULTS 3Q26 16 186 189 597 638 3Q25 3Q26 G&A Selling RESULTS 3Q26 16 (1) Expenses consider the impact of lease payments, in accordance with the IFRS 16 accounting standard, but exclude depreciat ion and amortization expenses and right - of - use (lease) depreciation, as well as net credit losses and other operating (expenses) income. Operating expenses (SG&A) SG&A / Net revenue +5.6% SG&A | Δ 3Q26 vs. 3Q25 783 827 +6.9% +1.3% OPERATING EXPENSE MANAGEMENT 1 R$ millions and % 783 827 42.5% 43.9% 3Q25 3Q26 Total SG&A SG&A / Net revenue +1.4 p.p. Excluding marketing expenses, SG&A grows 3.2%, below inflation
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RESULTS 3Q26 17 RESULTS 3Q26 17 C&A PAY R$ 20.2 Mi Result in the quarter, vs. R$ 7.9 million in 3Q25 13.9% NPL 90, - 2.5 p.p . vs. 3Q25 R$ 941.0 Mi Portfolio up to 360 days at the end of 3Q26 (+10.0% vs. 3Q25) R$ 100.8 Mi Revenue, +26.7% vs. 3Q25 Credit discipline supports positive results and improved delinquency 4.3% Net loss in the quarter¹, +0.6 p.p. vs. 3Q25 27.8% C&A Pay share in the quarter, - 1.0 p.p. vs. 3Q25
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RESULTS 3Q26 18 RESULTS 3Q26 18 EVOLUTION OF DELINQUENCY INDICATORS Figures in % Notes: (1) NPL formation considers the change in balances overdue between 90 and 360 days; (2) Coverage calculated as the rat io between total estimated losses and the stage 3 overdue portfolio (IFRS 9), over 90 days; (3) 3Q25 net loss over portfolio excluding the R$ 3.8 million portfolio assignment in that period. NPL 90 over the 360 portfolio NPL formation ¹ Net loss over the 360 portfolio Coverage ² of balances overdue over 90 days (360) 11.3% 22.9% 19.7% 16.4% 13.9% 3Q22 3Q23 3Q24 3Q25 3Q26 6.6% 7.2% 4.9% 3.1% 3.0% 3Q22 3Q23 3Q24 3Q25 3Q26 5.9% 9.0% 4.8% 3.2% 4.3% 3Q22 3Q23 3Q24 3Q25 3Q26 78.7% 94.2% 103.8% 107.1% 117.6% 3Q22 3Q23 3Q24 3Q25 3Q26 3.6%
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RESULTS 3Q26 19 ADJUSTED EBITDA 1 OF R$ 191 MILLION WITH A MARGIN OF 10.2% R$ millions and % (1) Pre - IFRS 16 EBITDA adjusted for: (i) other net operating income (expenses); (ii) financial income from suppliers; (iii) reco very of tax credits; and (iv) long - term incentive program. - 8.4% In adjusted EBITDA 3Q26 vs. 3Q25 RESULTS 3Q26 19 26 85 200 209 191 1.9% 5.5% 11.1% 11.3% 10.2% 3Q22 3Q23 3Q24 3Q25 3Q26 Adjusted EBITDA Adjusted EBITDA margin
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RESULTS 3Q26 20 RESULTS 3Q26 20 Note: Post - IFRS 16 net income adjusted for: (i) other net operating income (expenses); (ii) financial income from suppliers; (ii i) recovery of tax credits; and (iv) social charges related to the long - term incentive program paid, net of taxes. ADJUSTED NET INCOME R$ millions and % - 23.3% In adjusted net income 3Q26 vs. 3Q25 - 87 - 55 52 74 57 - 6.2% - 3.6% 2.9% 4.0% 3.0% 3Q22 3Q23 3Q24 3Q25 3Q26 Adjusted net income (loss) Adjusted net margin
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RESULTS 3Q26 21 ROIC ABOVE THE COST OF CAPITAL EVEN AS THE STRATEGY ADVANCES 93 47 81 146 184 7.0% 3.2% 4.8% 8.2% 10.3% 3Q22 3Q23 3Q24 3Q25 3Q26 Total investments % Net revenue 298 365 5.4% 6.5% 9M25 9M26 (1) Adjusted ROIC for the last twelve months +26.2% +22.2% ROIC¹ LTM 3Q26: 18% RESULTS 3Q26 21
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RESULTS 3Q26 22 OPERATING WORKING CAPITAL CASH CONVERSION CYCLE (DAYS) CCC = Inventories (DIO) + Accounts receivable (DSO) – Accounts payable (DPO) 1 Inventories (DIO) +16 days Product mix: telephony phase - out Start of the gradual reduction of inventories toward normalized levels. Preservation of collection renewal and product availability for the start of 4Q26 2 Receivables (DSO) +3 days Higher share of installment sales with interest at C&A Pay 3 Payables (DPO) – 4 days Reflecting the corresponding inventory adjustment In 3Q26, we began adjusting inventories and working capital 78 79 80 77 69 73 90 98 92 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26
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RESULTS 3Q26 23 Note 1: total net debt, including the payment commitment to Bradescard Note 2: measured by the ratio of net debt to pre - IFRS 16 adjusted EBITDA CAPITAL STRUCTURE R$ millions and % Leverage of 0.2x even after repurchasing more than R$ 100 million in shares year to date and paying R$ 140 million in interest on equity in 3Q26 RESULTS 3Q26 23 1,146 1,124 878 91 201 4.4x 2.5x 1.0x 0.1x 0.2x 3Q22 3Q23 3Q24 3Q25 3Q26 Net debt Leverage
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RESULTS 3Q26 24 RESULTS 3Q26 24 QUESTIONS & ANSWERS To ask live questions via audio, raise your hand to join the queue. When your name is announced, a request to activate your microphone will appear on the screen; please then activate your microphone to ask your questions. We kindly ask that all questions be asked at once. Alternatively, you may type your question directly in the Q&A icon at the bottom of the screen.
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RESULTS 3Q26 25 Disclaimer: The statements contained in this document related to business prospects, projections of operating and financial r esu lts, and those related to the growth prospects of C&A Modas S.A. are merely projections and, as such, are based exclusively on management's expectations regarding the future of the business. These expe cta tions depend substantially on market conditions, the performance of the Brazilian economy, the industry and international markets and are, therefore, subject to change without prior notice. RESULTS 3Q26 25 EARNINGS RELEASE 3Q26 Contacts: Laurence Gomes (CFO and IRO) Rogerio Ueno Pedro Abe ri@cea.com.br