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2Q26 & 1H26 RESULTS Videoconference August 7 , 2026 10:30 a.m. ( Brasília time ) GrendeneⓇ melissa GRENDHA Zaxy Ipanema Grendene kids rider CARTAGO PEGA FORTE EGA E ROMANA by
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This videoconference will be held in Portuguese, with simultaneous interpretation into English. Language Selection: To access simultaneous interpretation, click the “Interpretation” button at the bottom right of the screen and select “English.” To Ask Questions: Click the “Q&A” icon and type your question to join the queue. When your name is announced, a request to activate your microphone will appear on your screen. You should then unmute your microphone to ask your question. We kindly ask that all your questions be asked at once. Simultaneous TranslationAsk your question INSTRUCTIONS
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DISCLAIMER This presentation contains statements that may constitute forward-looking statements regarding future events or results. These statements are based on certain assumptions and analyses made by the Company in light of its experience, the economic environment, market conditions, and expected future developments, many of which are beyond the Company’s control. Important factors that could cause actual results to differ materially from those expressed in forward- looking statements include, among others, the Company’s business strategy, Brazilian and international economic conditions, technology developments, financial strategy, developments in the footwear industry, conditions in the financial markets, uncertainties regarding the results of future operations, and the Company’s plans, objectives, expectations, and intentions, as well as other factors. As a result of these factors, the Company’s actual results may differ materially from those indicated or implied in the forward-looking statements.
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2Q26 EXECUTIVE SUMMARY I. GRADUAL RECOVERY IN DEMAND • The domestic market remained selective, with demand concentrated in more affordable product categories. • Export volumes returned to growth. • Latin America supported shipment growth. II. OPERATING PROFITABILITY PRESERVED • Raw material costs remained favorable. • Gross margin remained resilient despite pressures from product mix and labor costs. • Recurring expenses remained under control III. FINANCIAL RESULTS IMPACTED NET INCOME • Lower average cash position reflected the extraordinary dividend distribution • The Company ended the quarter with R$1.5 billion in net cash • The Company’s financial position preserves its ability to continue rewarding shareholders and investing in business growth. “Despite a challenging consumer environment, we preserved operating profitability and cash generation. The decline in net income primarily reflected the lower contribution from financial results.”
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HIGHLIGHTS 2Q26 YOY 22.9 22.5 4.1 4.3 27.0 26.8 2Q25 2Q26 International Market Domestic Market VOLUME 26.8 MILLION (0.9%) vs. 2Q25 30.4 15.8 6.1% 3.3% 2Q25 2Q26 Adjusted EBIT Adjusted EBIT Margin 572.5 544.0 183.7 187.8 756.2 731.8 2Q25 2Q26 International Market Domestic Market GROSS REVENUE R$ 731.8 MILLION (3.2%) vs. 2Q25 ADJUSTED EBIT R$ 15.8 MILLION (48.2%) vs. 2Q25 ADJUSTED NET PROFIT R$ 95.3 MILLION (48.6%) vs. 2Q25 233.1 234.5 42.0% 42.4% 2Q25 2Q26 Gross Profit Gross Margin GROSS PROFIT R$ 234.5 MILLION 0.6% vs. 2Q25 185.5 95.3 37.2% 19.7% 2Q25 2Q26 Adjusted Net Profit Adjusted Net Margin (1.9%) 4.8% (5.0%) 2.3% (17.5 pp)Δ (2.8 pp) Δ 0.4 pp In R$ million, unless otherwise indicated
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“The consumer environment remained selective, with better performance from more affordable product categories and higher-turnover sales channels.” More affordable product categories and higher-turnover sales channels delivered the strongest performance during the quarter. Ipanema, Men’s segment, and Boots led growth. Higher value-added categories continued to reflect a more selective consumer environment. The Indirect and Self-Service channels partially offset weaker demand from traditional retail. Gross Revenue (7.5%) Primarily driven by lower revenue per pair. Volume (1.8%) Moderate decline. Gross Revenue per pair (5.8%) Reflecting a more affordable product mix. E-commerce +15.7% Continued channel expansion. Sell-out growth outpaced sell-in, reflecting a more conservative inventory management approach by retailers.. Sell-out x Sell-in (in pairs YoY) Sell-out Sell-in +4,1% -1,8% 2Q26 DOMESTIC MARKET - DIVISION 1
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“Melissa preserved its premium positioning and value-capture capability, even in a more challenging consumer environment.” Revenue per pair increased by 6.0%, reinforcing the brand's premium positioning. E-commerce partially offset lower traffic in physical stores. Sell-out reflected lower consumer traffic in stores. Sell-in tracked the more moderate pace of retail replenishment. The franchise network ended the quarter with 438 stores, compared to 419 stores in 2Q25. Gross Revenue +2.6% Driven by higher revenue per pair. Volume (3.2%) Moderate decline. Gross Revenue per pair +6.0% Premium positioning maintained. E-commerce +6.9% Channel continues to grow. Sell-in and sell-out showed similar trends, indicating a balanced relationship between end-consumer demand and the pace of retail replenishment. Sell-out x Sell-in (in pairs YoY) Sell-out Sell-in -3,0% -3,2% 2Q26 DOMESTIC MARKET - MELISSA
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2Q26 INTERNATIONAL MARKET “Latin America supported shipment growth.” The international environment remained marked by regional conflicts, foreign exchange volatility, and greater caution in inventory replenishment. Latin America supported shipment growth during the quarter. The geographic mix, with a greater contribution from lower average- ticket markets, pressured revenue per pair. Volume growth partially offset the decline in revenue per pair. Strong acceptance of new product launches supported the performance of the leading brands. Gross Revenue (BRL) +2.3% Volume growth partially offset lower revenue per pair. Gross Revenue (USD) +14.8% Outpaced growth in BRL terms. Volume +4.8% Shipment growth driven by Latin America. Gross Revenue per pair (BRL) (2.4%) Impacted by geographic mix.
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13.5 MN (14.0%) vs. 2Q25 # SESSIONS VOLUME GMV 4.1% vs. 2Q25 GROSS MARGIN 71.3% 2.3 pp vs. 2Q25 12.1% vs. 2Q25 GMV RECURRING EBIT R$ 1.4 MN 10.8% vs. 2Q25 SHARE GENERAL 1 6.3% 5.3% in 2Q25 SHARE MELISSA 2 18.2% 16.6% in 2Q25 “The digital channel combined sales growth, improved profitability, and a growing share of total sales.” GMV, profitability, and sales penetration advanced, reinforcing the digital channel’s strategic relevance. 2Q26 E-COMMERCE 1 – Overall Participation: Total GMV revenue in relation to Gross Revenue in the domestic market. 2 – Melissa Participation: Melissa Brazil GMV revenue in relation to Melissa’s Gross Revenue in the domestic market.
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AVERAGE EXCHANGE RATE (USD/BRL): 2Q25 = R$ 5.6661 / 2Q26 = R$ 5.0481 - ∆ (10.9%) 756.2 754.8 731.8 (11,0) (17,5) 8,7 18,4 (23,0) Gross Revenue - 2Q25 Volume - DM Price and Mix - DM Volume - IM Price and Mix - IM Gross Revenue - Excluding FX Effects FX Impact - IM Gross Revenue - 2Q26 Excluding FX effects: (0.2%) Including FX effects: (3.2%) GROSS REVENUE In R$ million, unless otherwise indicated
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26.6% 23.5% 23.3% 22.3% 21.4% 22.8% 24.2% 24.4% 11.1% 11.1% 10.5% 10.9% 59.1% 57.4% 58.0% 57.6% 40.9% 42.6% 42.0% 42.4% 2Q23 2Q24 2Q25 2Q26 GROSS MARGIN AND COGS (% OF NET REVENUE) • Lower raw material costs were the main driver of gross margin expansion. • Higher labor costs reflected the reinstatement of payroll taxes and lower fixed-cost absorption. • The more affordable product mix contributed to lower fixed-cost absorption. “Gross margin expansion was primarily driven by lower raw material costs.” 🟢 -1.0 pp 🔴 +0.2 pp 🔴 +0.4 pp 🟢 +0.4 pp 🟢 -0.4 pp COST OF GOODS SOLD & GROSS MARGIN % of Net Revenue, unless otherwise indicated OMC Labor Raw Material Gross Margin
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OPERATING EXPENSES (2.4%) 19.7% (14.4%) n.s. 6.9 pp Other G&A Selling Net Revenue % Net Revenue (0.4%) ∆% 2Q26 VS 2Q25 28.9 20.7 (41.0) 6.3 26.2 26.7 40.8 34.9 134.5 135.0 188.0 183.5 189.5 182.4 187.8 224.7 40.9% 38.0% 33.8% 40.7% 2Q23 2Q24 2Q25 2Q26 463.6 480.3 555.3 552.8 R$ Thousands 2Q25 % NOR 2Q26 % NOR Change % 2Q25 ex GGB % NOR ex GGB 2Q26 ex GGB % NOR ex GGB Change% ex GGB Variable* (76,462) (13.8%) (82,228) (14.9%) 7.5% (63,690) (12.8%) (63,649) (13.1%) (0.1%) Advertising (41,134) (7.4%) (36,141) (6.5%) (12.1%) (25,300) (5.1%) (24,667) (5.1%) (2.5%) Other (70,446) (12.7%) (65,159) (11.8%) (7.5%) (52,395) (10.5%) (54,619) (11.3%) 4.2% TOTAL (188,042) (33.9%) (183,528) (33.2%) (2.4%) (141,385) (28.3%) (142,935) (29.5%) 1.1% Selling Expenses General and Administrative Expenses R$ Thousands 2Q25 % NOR 2Q26 % NOR Change % 2Q25 ex GGB % NOR ex GGB 2Q26 ex GGB % NOR ex GGB Change% ex GGB G&A (40,785) (7.3%) (34,931) (6.3%) (14.4%) (31,815) (6.4%) (32,185) (6.6%) 1.2% TOTAL (40,785) (7.3%) (34,931) (6.3%) (14.4%) (31,815) (6.4%) (32,185) (6.6%) 1.2% Recurring expenses remained well controlled, rising just 1.6% and reflecting disciplined operating cost management. Ex GGB Ex GGB “Recurring expenses remained under control.” In R$ million, unless otherwise indicated *Commissions, freight, freight storage and licensing.
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45.3 9.7 2.4 3.7 4.5 5.9 10.6 57.9 EBIT (2Q25) ∆ Net Revenue ∆ COGS ∆ Selling Expenses ∆ G&A Expenses Other Operating Rev. / Expenses Equity Method Results EBIT (2Q26) Adjustments – 2Q26 R$ Thousands Procedural Credits (193) Obsolete Invetory (GGB) 2,105 Equit Method (SCP´s) (176) Franchise Management 609 Non-recurring Results (GGB) 3,690 Sum 6,035 9,7 15,8 6,0 EBIT (2Q26) Adjustments (2Q26) Adjusted EBIT (2Q26) Adjusted EBIT – 2Q26 vs. 2Q25 ▼ (48.2%) EBIT & ADJUSTED EBIT In R$ million, unless otherwise indicated
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FINANCIAL RESULTS Accounts 2Q25 2Q26 Change % / Change pp CDI - % p.a. 14.5% 14.4% (0.1 pp) Average (USD) 5.6661 5.0481 (10.9%) Average cash and financial investments (R$) 1,952,817 1,039,267 (46.8%) Income from Financial Investments 50,734 21,894 (56.8%) Net Gain (loss) on FX Variations 7,180 1,449 (79.8%) Result Other Financial ASSET SCP's, COE and debentures) 11,722 11,438 (2.4%) Other Financial Transactions(*) (6,899) (4,363) (36.8%) Revenue from Present Value Adjustment (PVA) 22,000 25,417 15.5% Accounting Net Financial Result 84,737 55,835 (34.1%) Equity Method (SCPs) 58,084 176 (99.7%) Adjusted Net Financial Result 142,821 56,011 (60.8%) Investment Committee Allocation as of June 30, 2026 Balance: R$ 1.0 billion 100% Real Estate Data base as of: June 30, 2026 Investment Return Nominal Return % CDI Real Estate 197.4% 227.1% Private Credit 98.3% 207.6% Variable Income 194.3% 582.8% Total 261.5% 289.1% “Even after significant shareholder distributions, we continue to maintain strong liquidity and a robust financial position.” In R$ thousands, unless otherwise indicated * Main Item – Interest Income from Legal Proceedings: Case related to the exclusion of ICMS from the PIS and COFINS tax base andSELIC accrual on IRPJ/CSLL tax overpayments. Further details on the financial result can be found in the explanatory notes to the financial statements.
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HIGHLIGHTS 1H26 YOY 40.6 41.8 11.7 10.7 52.3 52.5 1H25 1H26 International Market Domestic Market VOLUME 52,5 MILLION 0.3% vs. 1H25 126.9 74.8 12.3% 7.6% 1H25 1H26 Adjusted EBIT Adjusted EBIT Margin 1,092. 2 1,055. 8 369.4 359.1 1,461.6 1,414.8 1H25 1H26 International Market Domestic Market GROSS REVENUE R$ 1,414.8 MILLION (3.2%) vs. 1H25 ADJUSTED EBIT R$ 74.8 MILLION (41.1%) vs. 1H25 ADJUSTED NET PROFIT R$ 217.4 MILLION (37.0%) vs. 1H25 496.7 464.5 44.4% 42.7% 1H25 1H26 Gross Profit Gross Margin GROSS PROFIT R$ 464.5 MILLION (6.5%) vs. 1H25 345.3 217.4 33.4% 22.1% 1H25 1H26 Adjusted Net Profit Adjusted Net Margin 3.0% (11.3 pp)Δ (4.7 pp) Δ (1.7 pp) In R$ million, unless otherwise indicated
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GROSS REVENUE AVERAGE EXCHANGE RATE (USD/BRL): 1H25 = R$ 5.7554 / 1H26 = R$ 5.1524 - ∆ (10.5%) 1,461.6 1,456.8 1,414.8 32,5 (68,9) (33,2) 65,0 (42,0) Gross Revenue - 1H25 Volume - DM Price and Mix - DM Volume - IM Price and Mix - IM Gross Revenue - Excluding FX Effects FX Impact - IM Gross Revenue - 1H26 In R$ million, unless otherwise indicated Excluding FX effects: (0.3%) Including FX effects: (3.2%)
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COST OF GOODS SOLD & GROSS MARGIN 26.5% 23.2% 22.2% 22.0% 21.3% 22.2% 22.9% 24.5% 10.8% 10.9% 10.5% 10.8% 58.6% 56.3% 55.6% 57.3% 41.4% 43.7% 44.4% 42.7% 1H23 1H24 1H25 1H26 GROSS MARGIN AND COGS (% OF NET REVENUE) “Lower raw material costs partially offset the pressure from higher labor costs and lower fixed-cost absorption.” • Lower raw material costs continued to benefit COGS. • Lower net revenue per pair reduced fixed-cost absorption. • Lower fixed-cost absorption and the reinstatement of payroll taxes increased the share of labor costs. % of Net Revenue, unless otherwise indicated 🟢 -0.2 pp 🔴 +1.6 pp 🔴 +0.3 pp 🔴 +1.7 pp 🔴 -1.7 pp OMC Labor Raw Material Gross Margin
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(5.4%) 2.4% (6.0%) n.s. 1.9 pp (2.9%) ∆% 1H26 VS 1H25 62.9 20.9 (12.9) 19.7 52.0 54.0 72.4 68.1 254.2 256.3 344.0 325.5 369.1 331.2 403.5 413.3 37.5% 32.5% 36.1% 38.0% 1H23 1H24 1H25 1H26 983.7 1,019.7 1,119.1 1,086.7 R$ Thousands 1H25 % NOR 1H26 % NOR Change % 1H25 ex GGB % NOR ex GGB 1H26 ex GGB % NOR ex GGB Change % ex GGB Variable* (148,691) (13.3%) (151,167) (13.9%) 1.7% (125,582) (12.1%) (124,372) (12.7%) (1.0%) Advertising (66,376) (5.9%) (59,858) (5.5%) (9.8%) (43,736) (4.2%) (43,074) (4.4%) (1.5%) Other (128,948) (11.5%) (114,460) (10.5%) (11.2%) (92,607) (9.0%) (95,177) (9.7%) 2.8% TOTAL (344,015) (30.7%) (325,485) (30.0%) (5.4%) (261,925) (25.3%) (262,623) (26.7%) 0.3% Selling Expenses General and Administrative Expenses R$ Thousands 1H25 % NOR 1H26 % NOR Change % 1H25 ex GGB % NOR ex GGB 1H26 ex GGB % NOR ex GGB Change % ex GGB G&A (72,406) (6.5%) (68,081) (6.3%) (6.0%) (61,049) (5.9%) (62,228) (6.3%) 1.9% TOTAL (72,406) (6.5%) (68,081) (6.3%) (6.0%) (61,049) (5.9%) (62,228) (6.3%) 1.9% Ex GGB Ex GGB “Disciplined expense management kept recurring costs under control.” OPERATING EXPENSES Other G&A Selling Net Revenue % Net Revenue In R$ million, unless otherwise indicated Recurring operating expenses increased by 0.9% in 1H26. *Commissions, freight, freight storage and licensing.
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93,2 51,3 (32,4) 0,3 18,5 4,3 22,2 (54,8) EBIT (1H25) ∆ Net Revenue ∆ COGS ∆ Selling Expenses ∆ G&A Expenses Other Operating Rev. / Expenses Equity Method Results EBIT (1H26) EBIT & ADJUSTED EBIT In R$ million, unless otherwise indicated Adjustments – 1H26 R$ Thousands Procedural Credits (193) Obsolete Inventory (GGB) 893 Equity Method (SCP´s) (1,804) Franchise Management 1,497 Legal Proceedings 211 Provision for Civil Contingencies (541) CIDE on Remittances Abroad 13,404 Non-Recurring Results (GGB) 10,068 Sum 23,535 51,3 74,8 23,5 EBIT (1H26) Adjustments (1H26) Adjusted EBIT (1H26) Adjusted EBIT – 1H26 vs. 1H25 ▼ (41.1%) “Lower Equity Method Results were the main factor behind the reduction in EBIT for the first half of the year.”
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FINANCIAL RESULTS In R$ thousands, unless otherwise indicated Accounts 1H25 1H26 Change % / Change pp CDI - % p.a. 13.7% 14.7% 1.0 pp Average (USD) 5.7554 5.1524 (10.5%) Average cash and financial investments (R$) 1,728,233 1,167,000 (32.5%) Income from Financial Investments 94,196 51,949 (44.9%) Net Gain (loss) on FX Variations 17,102 9,196 (46.2%) Result Other Financial ASSET SCP's, COE and debentures) 21,448 24,611 14.7% Result from Other Investments 0 2,617 100.0% Other Financial Transactions(*) (11,382) (13,816) 21.4% Revenue from Present Value Adjustment (PVA) 51,470 54,383 5.7% Accounting Net Financial Result 172,834 128,940 (25.4%) Equity Method (SCPs) 56,586 1,804 (96.8%) Adjusted Net Financial Result 229,420 130,744 (43.0%) Investment Committee Allocation as of June 30, 2026 Balance: R$ 1.0 billion 100% Real Estate “The decline in financial results was primarily driven by the lower average cash balance following the extraordinary dividend distribution.” Data base as of: Investment Return June 30, 2026 Nominal Return % CDI Real Estate 197.4% 227.1% Private Credit 98.3% 207.6% Variable Income 194.3% 582.8% Total 261.5% 289.1% * Main Item – Interest Income from Legal Proceedings: Case related to the exclusion of ICMS from the PIS and COFINS tax base andSELIC accrual on IRPJ/CSLL tax overpayments. Further details on the financial result can be found in the explanatory notes to the financial statements.
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Mandatory Minimum Dividend – 25% 28,567,234.32 Proposed Dividend in Excess of the Mandatory Minimum Amount 85,695,385.34 Sum 114,262,619.66 Unclaimed Dividends 22,382.91 Total 114,285,002.57 DIVIDEND ALLOCATION Grendene (Parent Company) R$ Net Profit for the Period 191,546,475.55 (- ) Tax Incentive Reserve of ICMS (51,546,093.74) (- ) Tax Incentive Reserve of IRPJ (19,717,289.92) Basis for Calculation of the Legal Reserve 120,283,091.89 (–) Legal Reserve (6,014,154.60) Basis for the Calculation of the Mandatory Minimum Dividend (1H26) 114,268,937.29 ( - ) Retained Earnings (6,317.63) ( + ) Unclaimed Dividends 22,382.91 Dividends Proposed by Management 114,285,002.57 ( - ) Dividends and Interest on Equity Paid in Advance (1Q26) (55,689,710.59) Balance Available for Distribution 58,595,291.98 In R$, unless otherwise indicated Dividends approved ad referendum of the Annual General Meeting, which will review the Balance Sheet and the Financial Statements for the 2026 fiscal year.
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PROPOSED DIVIDENDS Dividends Approvel Date Ex-dividend Date Date of Payment Start Gross Value R$ Gross Value per Share R$ Net Value R$ Net Value per Share R$ Dividend 1 and 2 May 7, 2026 May 22, 2026 Jun. 10, 2026 25,689,710.59 0.028475781 25,689,710.59 0.028475781 IOE 1 and 3 May 7, 2026 May 22, 2026 Jun. 10, 2026 30,000,000.00 0.033253525 24,750,000.00 0.027434158 Dividend 1 and 2 Aug. 6, 2026 Aug. 24, 2026 Sep. 9, 2026 28,598,471.98 0.031700000 28,598,471.98 0.031700000 IOE 1 and 3 Aug. 6, 2026 Aug. 24, 2026 Sep. 9, 2026 29,996,820.00 0.033250000 24,747,376.50 0.027431250 Total 114,285,002.57 0.126679306 103,785,559.07 0.115041189 In R$, unless otherwise indicated 1) Dividends and interest on equity approved approved “ad referendum” of the Annual General Meeting, which will review the Balance Sheet and the Financial Statements for the 2026 fiscal year. 2) The net dividend amount does not consider any withholding income tax that may be applicable to individuals resident in Brazil, pursuant to Law No. 15,270/2025. Under the terms of said law, dividends paid in amounts exceeding R$ 50,000.00 in a given month may be subject to withholding tax at a 10% rate, the application of which depends on the total amount received by the shareholder during the period. 3) The net amounts of interest on equity consider withholding income tax at a rate of 17.5%, in accordance with the applicable legislation, replacing the previously applicable rate.
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QUESTIONS Q&A To Ask Questions: Click the “Q&A” icon and type your question to join the queue. When your name is announced, a request to activate your microphone will appear on your screen. You should then unmute your microphone to ask your question. We kindly ask that all your questions be asked at once.