Earnings release
Page 1
Shopping Iguatemi Esplanada IGUATEMI RESULTS 2 Q26 S.A. IGUATEMI IGUATEMI S.A.
Page 2
2 Highlights of 2Q26........................................................................... 4 Message from Management ............................................................... 5 Comparison of Results Adjusted for M&As....................................................................... 6 Main Indicators ................................................................................ 7 Operational Performance ......................................................................................... 10 Sales ........................................................................................................................ 12 Rental ...................................................................................................................... 13 Occupancy Rate........................................................................................................ 14 Occupancy Costs and Delinquency Rates ................................................................. 15 Consolidated Result ....................................................................... 16 Economic and Financial Performance – Shopping Malls ............................................ 19 Gross Revenue – Shopping Malls .............................................................................. 20 Costs and Expenses - Shopping Malls ........................................................................ 21 Other Operating Revenues (Expenses) - Shopping Malls ............................................ 22 Retail Result ..................................................................................... 22 Financial Result ............................................................................... 23 NOI, Net Profit, and FFO ................................................................ 24 Debt .................................................................................................. 25 Cash Flow and Investments ......................................................... 27 Iguatemi Portfolio ........................................................................... 28 Construction Potential ............................................................................................. 29 Investment Properties ............................................................................................. 30 Events .............................................................................................. 31 ESG ................................................................................................... 32 Capital Markets .............................................................................. 33 Appendix ............................................................................................ 36 Glossary ........................................................................................... 42 INDEX
Page 3
3 Conference Call in Portuguese Simultaneous translation into English Webcast: Click here to access. IR Team: CFO Guido Oliveira IR Marcos Souza Victor Barbosa Victor Conceição Ana Beatriz Lima Telephone: +55 (11) 3137-7197/7134 ri@iguatemi.com.br www.iguatemi.com.br CONFERENCE CALL ON 2Q26 RESULTS 5 AUG.2026 10:00 AM (BRT) Brasília, Brazil 9:00 AM (GMT-4) New York, USA Iguatemi S.A. [B3: IGTI11], one of the largest full-service companies in the Brazilian shopping mall sector, announces today its results for the second quarter of 2026 (2Q26). The following accounting and operating information is presented based on accounting figures and in thousands of Reais, in accordance with Brazilian corporate law and international financial reporting standards (IFRS), through the CPCs issued and endorsed by the Brazilian Securities and Exchange Commission (CVM), except with regard to Iguatemi's indirect 6.58% interest in Shopping Iguatemi Porto Alegre Mall (and its Iguatemi Business office tower), which is presented in the equity equivalence in the accounting information and is reflected, line by line, in revenues and costs, as of January 2020. These changes were made to more comprehensively represent the Company's results. The Company's accounting and management information has been reviewed by independent auditors. Sky Galleria
Page 4
4 aaaa • Total sales reached R$ 6.6 billion in 2Q26, up 4.6% from 2Q25; • Sales per square meter (m²) grew 13.3% in proportion to Iguatemi's interest. Same-store sales (SSS) grew 1.7% and same-area sales (SAS) grew 4.2% in 2Q26 versus 2Q25; • Rental per square meter grew 11.8% in proportion to Iguatemi's interest. Same-store rents (SSR) grew 2.7% and same-area rents (SAR) grew 2.5% in 2Q26 versus 2Q25. • Gross revenue reached R$ 441.4 million in 2Q26, representing a decrease of 3.8% compared to 2Q25. Growth of 8.8% versus the 2Q25 pro forma; • Adjusted net revenue(1) reached R$ 396.0 million in 2Q26, representing a decrease of 2.7% compared to 2Q25. Growth of 11.6% compared to the 2Q25 pro Forma; • Consolidated adjusted EBITDA(2) reached R$ 290.5 million in 2Q26, a decrease of 34.8% compared to 2Q25, with an adjusted EBITDA margin of 73.4%. Growth of 10.8% versus the 2Q25 pro forma; • Adjusted net profit(2) reached R$ 133.8 million in 2Q26, a decrease of 35.8% compared to 2Q25, with an adjusted net margin of 33.8%. Recurring net income (3) grew 22.1% versus the previous year; • Adjusted FFO(2) was R$ 170.9 million in 2Q26, 28.9% lower than 2Q25, with an adjusted FFO margin of 74.5%. Recurring FFO(3) grew 21.0% versus the previous year; • Adjusted NOI reached R$ 298.5 million in 2Q26, with record margin of 94.6%. • Iguatemi ´s leverage ended the 2Q26 at 1.62x Net Debt/Adjusted EBITDA. Excluding the impact of capital gains from the sale of minority interests in 1Q26, it would be 1.81x; • Completion, on April 09, of the acquisition of an additional 3% interest in the Pátio Paulista shopping mall, for R$ 75.6 million, reinforcing the investment strategy in strategic assets of the portfolio; • Completion, on June 25, of the new CRI (Real Estate Receivables Certificate) issuance with enrollment of R$ 535.0 million, at a cost of 97% of the Interbank Deposit Certificate (CDI) rate and a term of 8 years; • New Share Buyback Program approved by the Company in the amount of R$ 60 million (approximately 2,500 Units) with a term of validity until December 2027; • 1st edition of Iguatemi Talks Wellness, bringing national and international experts to discuss on well-being, longevity, health, innovation, and quality of life at JK Iguatemi; • 4th edition of Annual Sustainability Report, referring to the 2025 fiscal year (Link); Subsequent events: • Completion of early redemption, on July 1, of the entirety of the 2nd series of the 11th bond issuance (IGTAB1), totaling R$ 236.1 million, reflecting liability management. • Fitch reaffirmed Iguatemi S.A.'s AAA(BRA) rating. 1) Excluding the straight-line effect; 2) Excluding the straight-line effect, the result of the SWAP of shares. 3) Recurring view, disregards the interests of Pátio Higienópolis and Pátio Paulista of the partner investors in the transaction, as well as the capital gain from the sales of Market Place and Galleria. HIGHLIGHTS OF 2Q26 Message from Management TOTAL SALES R$ 6.6 billion + 4.6% vs. 2Q25 SALES /M2 +13.3% in the IGTI % vision RENTAL/M2 +11.8% in the IGTI % vision ADJUSTED NET REVENUE(1) R$ 396.0 million +11.6% vs. 2Q25 pro forma -2.7% vs. 2Q25 ADJUSTED EBITDA(2) R$ 290.5 million +10.8% vs. 2Q25 pro forma -34.8% vs. 2Q25 FFO ADJUSTED(2) R$ 170.9 million +21.0% vs. 2Q25 Recurring(3) -28.9% vs. 2Q25 OCCUPANCY RATE 96.9% in 2Q26 +0.5 p.p. vs 2Q25 LEVERAGE 1.62x + 0.32x vs 1Q26 ADJUSTED RETAIL EBITDA 2Q26 R$ 8.1 million +225.5% vs 2Q25 To ensure comparability with 2Q26, the 2Q25 was recalculated on a pro forma basis, excluding: (i) the temporary interest held by partners and co-investors in Pátio Higienópolis and Pátio Paulista; (ii) capital gain from the sale of Market Place Complex and Shopping Galleria; and (iii) the results from assets whose ownership interest changed between these periods. These movements were duly disclosed to the market at the time. Further details on page 5 e Appendix.
Page 5
5 COMPARISON OF RESULTS ADJUSTED FOR M&A ´S AFTER M&A TRANSACTIONS OVER THE LAST 12 MONTHS, THE CURRENT PORTFOLIO SHOWS GROWTH IN ALL INDICATORSWHEN COMPARED ON THE SAME BASIS Message from Management The comparison between Net Revenue, EBITDA, Net Income, and FFO for 2Q26 and 2Q25 is affected by non-recurring effects arising from the portfolio movements carried out in that quarter. In the acquisitions of the Pátio Higienópolis and Pátio Paulista malls, the Company temporarily recognized the interest held by partners and co-investors, generating a positive impact of R$17.9 million on EBITDA and R$6.9 million on FFO. Additionally, the completion of the sale of the Market Place Complex and Shopping Galleria, also in 2Q25, generated a capital gain of R$139.1 million on EBITDA and R$92.3 million on FFO. Over the last 12 months, Iguatemi also carried out new portfolio recyclings and corporate restructurings, reducing its owned GLA and making the comparison between periods less representative of the operating performance of the business (see table below for details). To ensure comparability, 2Q25 was recalculated on a pro forma basis, excluding the results from assets whose ownership interest changed between the two periods. On this comparable basis, the operation shows growth across all indicators, reinforcing the operating strength of the business. 445.398 288.442 262.322 290.565 EBITDA 2Q25 139,065 Capital Gain (1) 17,891 Pátios Partners Result (2) Recurring EBITDA 2Q25 26,120 Pro Forma Effect (3) EBITDA pro forma 2Q25 28,243 Growth YOY EBITDA 2Q26 10.8% 407.165 389.008 354.790 396.020 Net Revenue 2Q25 0 Capital Gain (1) 18,157 Pátios Partners Result (2) Net Revenue Recurring 2Q25 34,219 Pro Forma Effect (3) Net Revenue pro forma 2Q25 41,230 Growth YOY Net Revenue 2Q26 11.6% Adjusted EBITDA Breakdown (R$ million) Adjusted Net Revenue Breakdown (R$ million) (1) Capital Gain from the sale of Interests in Market Place Shopping Center and Shopping Center Galleria (2) Recurring view, excluding the interests in Pátio Higienópolis and Pátio Paulista held by the operation's partner investors, as well as the capital gain from the sales of Market Place and Galleria. (3) Pro forma view excludes the results from assets whose corporate ownership interest changed between the two periods, in accordance with the comparability table. % Iguatemi Portfolio 2Q26 2Q25 Var. p.p. Pátio Paulista 14.5% 11.5% +3.0 Market Place 51.0% 100.0% -49.0 Market Place Towers 51.0% 100.0% -49.0 Iguatemi Alphaville 51.0% 60.0% -9.0 Galleria 51.0% 100.0% -49.0 Iguatemi Ribeirão Preto 65.0% 89.0% -23.9 Iguatemi Rio Preto 70.0% 88.0% -18.0 Praia de Belas 50.6% 57.6% -7.0
Page 6
6 COMPARISON OF RESULTS ADJUSTED FOR M&AS AFTER M&A TRANSACTIONS OVER THE LAST 12 MONTHS, THE CURRENT PORTFOLIO SHOWS GROWTH IN ALL INDICATORSWHEN COMPARED ON THE SAME BASIS Message from Management 208.510 109.579 133.80392.284 Net Profit 2Q25 Capital Gain(1) 6,647 Pátios Partners Result (2) Net Profit Recurring 2Q25 24,225 Growth YOY Net Profit 2Q26 22.1% 240.431 141.230 170.92392.284 FFO 2Q25 Capital Gain(1) 6,917 Pátios Partners Result (2) Recurring FFO 2Q25 29,694 Growth YOY FFO 2Q26 21.0% Recurring Adjusted Net Profit Breakdown(BRL million) Recurring Adjusted FFO Breakdown (BRL million) Shopping Pátio Paulista (1) Capital Gain from the sale of Interests in Market Place Shopping Center and Shopping Center Galleria (2) Recurring view, excluding the interests in Pátio Higienópolis and Pátio Paulista held by the operation's partner investors, as well as the capital gain from the sales of Market Place and Galleria. (3) Pro forma view excludes the results from assets whose corporate ownership interest changed between the two periods, in accordance with the comparability table.
Page 7
7 In 2Q26, total sales of the Iguatemi portfolio reached R$ 6.6 billion, up 4.6% over 2Q25, a result achieved in in a quarter atypically impacted by the 2026 FIFA World Cup, with a broader match schedule than in previous editions, and by the calendar mismatch of Easter. On a same-area sales (SAS) basis, growth of 4.2% reinforces the portfolio's resilience and its ability to sustain a positive trajectory even in a more demanding consumptionenvironment. This performance reflects the continuous evolution of the portfolio, which is increasingly aligned with customer profiles, through recurring investments in content, events, experiences, and the enhancement of the store mix, a process that, quarter after quarter, widens Iguatemi's competitive differentiation relative to the rest of the industry. TOTAL SALES GROW 4.6% AND SAS MAINTAINS PROGRESS IN LINE WITH INFLATION Message from Management Real SAS growth for the period (SAS vs.. average IPCA for the period) IPCA 12M (Quarterly Average) SSS 2Q26 SAS 2Q26 4.6% 1.7% 4.2% -2.9 p.p. -0.3 p.p. Sales in shopping malls per square meter at 100% and in interest (BRL thousand per quarter) The capital allocation and portfolio optimization strategy has been expanding the Company's exposure to higher quality and more productive assets, a movement confirmed in sales per m², which grew 4.6% year-over-year and, on a basis proportional to the Company's ownership interest (% IGTI), 13.3%. The difference between the two indicators captures the effect of the strategy: greater concentration in more productive properties and lower exposure to assets with relatively smaller contribution, reinforcing the long-term value capture from portfolio recycling. 3,8% 3,9% 5,4% 4,6% 14,4% 4,2% 2Q23 2Q24 2Q25 2Q26 4,2% 8,0% 7,0% Real growth SAS vs. total sales in 2Q26 100% Vision % IGTI Vision 9.2 9.6 8.7 9.8 +4.6% +13.3% 2Q25 2Q26 IPCA - 12m Same-Area Sales (SAS) Iguatemi São José do Rio Preto
Page 8
8 FIFA World Cup The month of June was marked by the start of the 2026 FIFA World Cup, to be held between June 11 and July 19. The Brazilian national team played five matches throughout the tournament, with four of those matches concentrated in June. The chart below compares the daily same-store sales of our shopping malls from the start of the FIFA World Cup with the equivalent day of the week in 2025: in the period from June 11 to 30, sales totaled 97.8% of the same period of the previous year. Brazilian National Team Matches Sales behavior reflects a calendar effect associated with the Brazilian national team's matches. During the four days of matches in June, sales accounted for 68.5% of the comparable figure for 2025. On the other days of the period, however, the index reached 106.3%, almost entirely offsetting the decline on match days. The pattern observed, with declines concentrated on match days and recovery on the following days suggests a significant consumption-shift effect throughout the period. Although the recovery in sales on non- match days offset much of the impact, the cumulative result indicates that the World Cup exerted a temporary pressure on the quarter's performance. WORLD CUP EFFECT ON SALES IS CONCENTRATED ON BRAZIL'S MATCH DAYS; ON ALL OTHER DAYS, SALES GREW 6.3% Message from Management 87,6% 138,3% 71,9% 99,8% 93,1% 96,5% 94,6% 104,8% 86,2% 106,3% 119,2% 96,1% 106,9% 73,7% 103,4% 110,4% 110,7% 108,7% 43,1% 0 20 40 60 80 100 120 140 Jun- 11 Jun- 12 Jun- 13 Jun- 14 Jun- 15 Jun- 16 Jun- 17 Jun- 18 Jun- 19 Jun- 20 Jun- 21 Jun- 22 Jun- 23 Jun- 24 Jun- 25 Jun- 26 Jun- 27 Jun- 28 Jun- 29 Same-store sales growth – 2026 FIFA World Cup (26 vs. 25) Iguatemi São Paulo
Page 9
9 Occupancy costs remained at a healthy level, ending 2Q26 at 10.8%, up 0.3 p.p compared to 2Q25 and below the levels observed in previous years. The combination of a positive real spread over the IGP-M, controlled occupancy costs, and growth in rent per square meter supports the argument that the Iguatemi portfolio retains additional repricing potential, as agreements are renewed and capture the operational progress of the ventures observed over the past few years. In 2Q26, rental revenue at 100% grew 3.4%(1) compared to 2Q25—a base that already reflected the full consolidation of the Pátio Higienópolis and Pátio Paulista starting in April 2025. The result is supported by renewals with positive leasing spreads, increases in percentage rental, and a rise in occupancy rates. Same-store rents (SAR) increased by 2.5%, maintaining growth above the IGP-M for the period and the average inflation pass-through in our portfolio of 1.6 p.p., reflecting the Company's ability to capture organic growth in rents. This performance stems from three complementary factors: (i) IGP-M transfers accumulated over the last 12 months of 0.9%; (ii) renewals with positive leasing spreads and closing of vacant area; and (iii) increased percentage rental revenues, driven by sales growth and asset productivity. In the 100% view, the indicator per square meter grew 3.3% year-on-year; in terms of the proportion of Iguatemi's interest (% IGTI), growth reached 11.8%, reflecting greater exposure to more productive assets and the benefits of the portfolio recycling strategy on the recurring revenue base. Message from Management Progress in occupancy cost (% of sales) - quarter 688 711 100% Vision % IGTI Vision 629 703 +3.3% +11.8% Real growth - SAR and Rental/m² IGPM readjustment effect on the portfolio SAR 2Q26 Growth Rental/m2 0.9% 2.5% 3.3% +1.6 p.p. RENTALS ARE RISING FASTER THAN INFLATION, LEAVING ROOM FOR FURTHER PRICE INCREASES Rental per square meter (m²) – Shopping Malls (quarterly) 2Q25 2Q26 Galleria Shopping 11,3% 10,8% 10,5% 10,8% 2Q23 2Q24 2Q25 2Q26 +0.3 p.p. (1) Rental revenue at 100% considers minimum rent, percentage rent, and temporary leasing
Page 10
10 Message from Management The acceleration of Iguatemi's results in recent years stems from the qualification of its asset base through disciplined capital allocation and the consistent operational growth of the ventures that make up its portfolio. On the portfolio side, the Company conducted a significant cycle of transactions combining strategic acquisitions, increased interest in dominant ventures, and recycling of assets with lower relative potential. In a comparison between 2Q25 and 2Q26, we saw a change in interest in 10 assets, as shown in the table below. Thus, amidst reductions and increases in interest, the Company redirected capital to more productive assets such as Pátio Paulista, Pátio Higienópolisand Rio Sul. From an operational standpoint, the assets that remained in the portfolio throughout this cycle also contributed significantly to the growth in results. Consistent sales growth exceeding inflation, real rental progress in agreement renewals quarter-on-quarter, reduced discount levels, growth in percentage rent and consistent growth in temporary leasing, events, media, and parking sustain a dynamic of sustainable growth for the asset portfolio, all underpinned by the intrinsic quality of the properties. This discipline is even recognized in industry reports, which have named Iguatemi the best capital allocator in organic projects among its industry peers. The combined result of these two movements is visible in the Adjusted EBITDA trajectory: Since 2022, the indicator has recorded a CAGR of 18.1%, a rate significantly higher than the growth of the industry. PORTFOLIO QUALIFICATION ACCELERATES RESULTS GENERATION AND EXPANDS GROWTH BASE % Iguatemi Portfolio 2Q26 2Q25 1Q25 Pátio Higienópolis 29.0% 29.0% 11.5% Pátio Paulista 14.5% 11.5% 0.0% Rio Sul 16.6% 16.6% 16.6% Market Place 51.0% 100.0% 100.0% Market Place Towers 51.0% 100.0% 100.0% Iguatemi Alphaville 51.0% 60.0% 60.0% Galleria 51.0% 100.0% 100.0% Iguatemi Ribeirão Preto 65.0% 89.0% 89.0% Iguatemi Rio Preto 70.0% 88.0% 88.0% Praia de Belas 50.6% 57.6% 57.6% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200 400 600 800 1,000 1,200 69 115 137 161 185 235 298 348 454 504 521 541 559 542 319 486 714 920 1,024 1,178 Historical progress - Adjusted EBITDA(1) (R$ million) GLA expansion of the market RecoverySevere Economic Crisis Stagnation Pandemic (1) Excludes capital gains effects and the straight-line effect
Page 11
11 Message from Management STATUS OF DEVELOPMENT AND PORTFOLIO EXPANSION PROJECTS As disclosed by the Company at its last Investor Day, Iguatemi currently has 4 construction sites underway: Two expansions (Iguatemi São Paulo and Iguatemi Brasília) and two real estate development projects (Iguatemi Tower, formerly known as Tower A, and the Casa Figueira neighborhood), in addition to the retrofit of the Market Place Mall. In this second quarter, we are following our construction schedule as planned. Below are some images showing the physical progress of each construction site. It is worth noting that the construction of Iguatemi Tower Campinas officially began on July 6, 2026. Casa Figueira - Campinas Iguatemi São Paulo Iguatemi Brasília Iguatemi Tower (Tower A) Casa Figueira – Infrastructure Expected Opening 1Q27 4Q27 2Q28 3Q26 Total GLA (thousand m2) 4.9 15.5 16.7 - % Iguatemi 60.0% 64.0% 52.0% 24.8% % Sold 70.0% 60.0% - 6.1% % Completed Physical Work 42.2% 1.5% 1.5% 87.7% % Capex (million) 35.4% 12.5% 2.5% 46.6% Rooftop Iguatemi São Paulo Iguatemi Brasília Iguatemi Tower Campinas construction
Page 12
12 OPERATIONAL PERFORMANCE OPERATIONAL INDICATORSCONTINUE TO GROW WITH PORTFOLIO ENHANCEMENT Main Indicators (1) It considers Iguatemi Esplanada and Esplanada Shopping as one venture. (2) It considers sales and rental revenue from shopping malls and total GLA shopping malls (excluding towers, outlets, and Po wer Center Iguatemi Campinas). (3) It considers total GLA of shopping malls, outlets, and towers. (4) Considers sales and rental revenue from shopping malls and GLA of shopping malls in the Company's participation (excludes towers, outlets and Power Center Iguatemi Campinas). SALES (BRL THOUSAND) (assets at 100%) Operational Indicators 2Q26 2Q25 Change % 06M26 06M25 Change % Average Total GLA (m²) 789,465 788,588 0.1% 780,732 769,820 1.4% Final Owned GLA (m²) 426,327 489,095 -12.8% 427,517 484,170 -11.7% Average Owned GLA (m²) 426,327 489,095 -12.8% 427,517 484,170 -11.7% GLA Total Average Shopping Mall (m²) 735,955 735,078 0.1% 736,140 716,310 2.8% Average Owned GLA Shopping Mall (m²) 399,757 448,445 -10.9% 400,947 443,521 -9.6% Total Shopping Malls (1) 17 17 0.0% 17 17 0.0% Total Sales (BRL thousand) 6,594,833 6,303,976 4.6% 12,275,201 11,341,450 8.2% Same-Store Sales (SSS) 1.7% 12.1% -10.4 p.p. 3.1% 9.4% -6.3 p.p. Same-Area Sales (SAS) 4.2% 14.4% -10.1 p.p. 5.6% 11.7% -6.1 p.p. Same-Store Rents (SSR) 2.7% 10.4% -7.7 p.p. 4.1% 7.4% -3.3 p.p. Same-area rents (SAR) 2.5% 10.0% -7.4 p.p. 4.3% 7.2% -2.9 p.p. Occupancy Cost (% of sales) 10.8% 10.5% 0.3 p.p. 11.4% 11.1% 0.3 p.p. Occupancy rate 96.9% 96.4% 0.5 p.p. 97.1% 96.5% 0.6 p.p. Net Delinquency Rate 0.1% 0.3% -0.2 p.p. 0.7% 0.7% 0.0 p.p. Sales/m² - Shopping Malls (2) 9,609 9,190 4.6% 17,853 16,439 8.6% Rental/m² - Shopping Malls (2) 711 688 3.3% 1,393 1,310 6.3% Rental/m² (3) 631 610 3.3% 1,251 1,162 7.6% Sales/m² - Shopping Malls % IGTI (4) 9,837 8,686 13.3% 17,976 15,949 12.7% Rental/m² - Shopping Malls % IGTI (4) 703 629 11.8% 1,334 1,189 12.2% Portfolio 2Q26 06M26 Iguatemi São Paulo 1,387,752 2,540,597 JK Iguatemi 769,634 1,408,483 Pátio Higienópolis 434,244 816,316 Pátio Paulista 408,710 765,519 Market Place 90,510 175,220 Iguatemi Alphaville 204,907 376,509 Iguatemi Campinas 563,485 1,047,552 Galleria 115,238 227,866 Iguatemi Esplanada (1) 387,608 715,681 Iguatemi Ribeirão Preto 165,263 323,557 Iguatemi Rio Preto 167,865 321,420 Iguatemi Porto Alegre 695,306 1,259,167 Praia de Belas 168,174 315,959 Iguatemi Brasília 316,098 578,164 Rio Sul 510,844 995,933 I Fashion Outlet Novo Hamburgo 111,035 195,483 I Fashion Outlet Santa Catarina 66,123 147,368 Power Center Iguatemi Campinas 32,037 64,408 Total 6,594,833 12,275,201 Sales/m² - Shopping Mall 9,609 17,853 (1) It considers Iguatemi Esplanada and Esplanada Shopping as one venture.
Page 13
13 OPERATIONAL PERFORMANCE (ASSETS AT 100%) Chapter MINIMUM RENTAL REVENUE + PERCENTAGERENTAL + TEMPORARY LEASE (BRL THOUSAND) (1) It considers total GLA of shopping malls, outlets, and towers. (2) It considers Iguatemi Esplanada and Esplanada Shopping as one venture. Main Indicators Portfolio 2Q26 2Q25 Change % 06M26 06M25 Change % Iguatemi São Paulo 100,785 95,619 5.4% 194,877 180,651 7.9% JK Iguatemi 51,017 47,340 7.8% 96,613 87,537 10.4% Pátio Higienópolis 39,733 37,664 5.5% 77,222 73,212 5.5% Pátio Paulista 38,804 36,181 7.3% 76,174 36,181 110.5% Market Place 6,741 6,196 8.8% 12,342 12,051 2.4% Market Place Tower (I & II) 6,754 6,488 4.1% 13,430 12,662 6.1% Iguatemi Alphaville 13,404 12,636 6.1% 25,080 23,838 5.2% Iguatemi Campinas 41,443 40,891 1.4% 81,569 78,586 3.8% Galleria 8,217 8,545 -3.8% 16,495 16,936 -2.6% Sky Galleria Tower 3,432 3,254 5.5% 6,863 6,476 6.0% Iguatemi Esplanada (2) 26,037 25,514 2.0% 60,642 54,908 10.4% Iguatemi Ribeirão Preto 11,360 11,115 2.2% 22,112 21,687 2.0% Iguatemi Rio Preto 13,238 13,103 1.0% 25,701 24,997 2.8% Iguatemi Porto Alegre 49,476 48,429 2.2% 94,892 91,952 3.2% Iguatemi Tower Porto Alegre 3,130 2,997 4.4% 6,332 5,894 7.4% Praia de Belas 14,643 16,615 -11.9% 30,003 32,913 -8.8% Iguatemi Brasília 18,493 17,547 5.4% 35,608 33,732 5.6% Rio Sul 41,472 41,532 -0.1% 81,524 80,634 1.1% I Fashion Outlet Novo Hamburgo 6,214 5,903 5.3% 11,391 10,687 6.6% I Fashion Outlet Santa Catarina 2,229 2,615 -14.8% 5,049 6,570 -23.2% Power Center Iguatemi Campinas 1,247 1,127 10.6% 2,482 2,315 7.2% Total 497,870 481,311 3.4% 976,400 894,421 9.2% Rental/m²(1) 631 610 3.3% 1,251 1,162 7.6% Portfolio 2Q26 2Q25 Change % 06M26 06M25 Change % Iguatemi São Paulo 13,863 13,364 3.7% 27,895 25,309 10.2% JK Iguatemi 10,870 10,360 4.9% 20,886 19,191 8.8% Pátio Higienópolis 7,841 6,551 19.7% 15,697 14,431 8.8% Pátio Paulista 6,003 5,880 2.1% 12,064 5,880 105.2% Market Place 6,202 5,128 20.9% 11,532 9,721 18.6% Market Place Tower (I & II) 0 0 - 0 0 - Iguatemi Alphaville 6,367 5,959 6.8% 12,236 11,290 8.4% Iguatemi Campinas 13,326 12,116 10.0% 25,468 23,161 10.0% Galleria 4,714 4,203 12.2% 9,649 8,476 13.8% Sky Galleria Tower 0 0 - 0 0 - Iguatemi Esplanada (2) 11,625 10,344 12.4% 22,096 19,974 10.6% Iguatemi Ribeirão Preto 3,463 3,268 6.0% 6,826 6,530 4.5% Iguatemi Rio Preto 3,656 3,367 8.6% 7,112 6,608 7.6% Iguatemi Porto Alegre 11,699 10,594 10.4% 22,242 19,912 11.7% Iguatemi Tower Porto Alegre 0 0 - 0 0 - Praia de Belas 4,620 4,898 -5.7% 9,044 9,304 -2.8% Iguatemi Brasília 4,687 4,293 9.2% 9,169 8,531 7.5% Rio Sul 5,545 4,601 20.5% 10,867 9,339 16.4% I Fashion Outlet Novo Hamburgo 1,921 1,649 16.5% 3,539 3,020 17.2% I Fashion Outlet Santa Catarina 0 0 - 0 0 - Power Center Iguatemi Campinas 434 387 12.0% 897 1,004 -10.6% Total 116,835 106,961 9.2% 227,218 201,682 12.7% PARKING REVENUE (BRL THOUSAND)
Page 14
14 In 2Q26, total sales of the Iguatemi portfolio reached BRL 6.6 billion (+4.6% vs. 2Q25), in a quarter marked first by a mismatch in the Easter calendar and the FIFA World Cup, which negatively impacted retail during that period, as reported in the media. It is also worth highlighting that this is the first quarter with all ventures on the same comparative basis. The results for 2Q26, as in previous quarters, reflect the continuation of the asset qualification strategy, with several new retailer openings such as H&M in Iguatemi Porto Alegre, Praia de Belas Shopping and Iguatemi Esplanada, and the continued offering of experiences and events to consumers. Same-store sales (SSS) grew 1.7%, while same- area sales (SAS) advanced 4.2%. Although SAS recorded a real decrease of 0.4 p.p compared to the average IPCA for the period (4.6%), the indicator remained on a positive trajectory, reflecting the operational resilience of the Company's portfolio. Even in a difficult quarter for retail, the spread between the two metrics reflects the effects of new stores bringing sales spread to the portfolio. SALES Chapter (1) Average sales growth compared to the previous year, according to the ICVS – Cielo Retail Index in Shopping Centers Abrasce (ICVS Abrasce) (2) Considering anchors as stores with GLA equal to or greater than 1,000 square meters and other stores with GLA less than 1,000 square meters. Main Indicators The result once again surpassed the industry average,with a positivegap of 5.7 p.p. compared to the Abrasce ICVS (Consumer Confidence Index). It is worth noting that the quarterly SAS absorbedthe temporaryvacancy of the Nacional supermarketin the Praia de Belas ShoppingMall, whose space will be occupied by Zaffari in 2S26, excluding this effect, the indicator would have reached 4.4%. The indicator was also impacted by the Market Place Mall vacancy due to the retrofitproject. Sales growth (SAS) vs. Industry (1) In the segment analysis, the highlights were Services, Entertainment, and Others, with Entertainment growing 24.6%; and Miscellaneous Items, Health & Beauty, Jewelry, with Miscellaneous Items advancing 18.8%. Real growth SAS x SSS in 2Q26 IPCA 12M (Quarterly Average) SSS 2Q26 SAS 2Q26 4.6% 1.7% 4.2% -2.9 p.p. -0.3 p.p. 2,7% -1,3% 2,4% 3,6% 0,8% 3,1% 2,3% -0,4% -0,4% -1,5% 10,3% 7,0% 10,3% 11,1% 14,4% 7,9% 7,8% 4,2% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q25 2Q26 7,6% 9,0% ICVS-ABRASCE Average Iguatemi Average 193,0 191,8 194,7 198,4 200,9 7,4% 8,8% 9,7% 10,7% 12,6% 2019 2022 2023 2024 2025 +1.9 p.p. 710 723 727 753 791 SAME-AREA SALES GROW 4.2%, STILL ABOVE MARKET PERFORMANCE 2Q26 x 2Q25 06M26 x 06M25 Same-store sales (SSS) % GLA Anchor Stores(2) Other stores Total Anchor Stores(2) Other stores Total Meals 19.7% 3.5% 0.6% 1.1% 2.7% 2.7% 2.7% Fashion, Footwear, Leather Goods 36.9% 5.0% 0.8% 1.7% 4.5% 2.7% 3.1% Housewares, Bookstores, Stationery, Tech 9.7% -22.2% -8.2% -10.3% -21.2% -7.9% -10.0% Miscellaneous, Health & Beauty, Jewelry 16.7% 10.7% 3.9% 4.4% 11.6% 6.2% 6.5% Services, Entertainment, Others 17.1% 14.8% 0.8% 7.7% 9.4% 2.4% 5.9% Total 100.0% 4.9% 1.0% 1.7% 3.7% 2.9% 3.1% Sales Industry SC and % IGTI(R$ Billion)
Page 15
15 Discounts granted continue to decline, consolidating at historically low levels and reinforcing the favorable environment for price increases to be passed on. In pro forma terms, percentage rental increased by 11.5%, showing a CAGR of 16.8% between 2Q23 and 2Q26, consolidating itself as a relevant and recurring component of the Company's rental revenue. Compared to the reported 2Q25, revenue decreased by 0.7%. Performance continues to demonstrate the assets' ability to capture retailers' operational performance throughout the cycle. Although revenue from temporary lease decreased by 2.0% compared to the reported 2Q25, on a pro forma basis it showed growth of 18.3%, with a CAGR of 12.3% over the last three years, reinforcing its relevance as a complementary and recurring source of revenue through kiosks, events, and the use of spaces in ventures. On a comparable basis, SAR grew 2.5%, with a real gain of 1.6 p.p. over the IGP-M applied to the portfolio, resulting from contractual adjustments above inflation. The indicator continued to reflect the temporary impacts resulting from the repositioning project of Shopping Market Place and Praia de Belas, whose interventions still partially affect the revenue generation of the venture. RENTAL RENTAL MAINTAINS GROWTH TRAJECTORY WITH REAL GAINS AND STRONG PERFORMANCE FROM SUPPLEMENTARY REVENUES Chapter In 2Q26, Iguatemi's rental revenue(1) (100% vision) grew 3.4% compared to 2Q25. When measured per square meter, this indicator grew by 3.3% compared to the same period of the previous year, reinforcing the productivity gains of the asset base. Main Indicators SSR & SAR vs 2Q25 (%) Rental revenue at 100% (BRL thousand)(1) Rental/m² (BRL) (2) IGPM 12M (Quarterly Average) IGPM readjustment effect on the portfolio SSR 2Q26 SAR 2Q26 1.9% 0.9% 2.7% 2.5% +1.6 p.p. YoY variation in discounts granted (p.p.) Percentage Rental Revenue (BRL thousand) Temporary Lease Revenue (BRL thousand) (1) Rental revenue consists of: minimum rent, percentage rental, and temporary lease (2) Consider total GLA including malls, outlets, and towers. Actual SSR progress (% YoY) 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 5.7% 5.9% 2.9% 5.4% 2.4% 3.3% 3.9% 1.8% SSR maintained the real growth trajectory of recent periods, reaching 1.8% in the quarter. 610 631 2Q25 2Q26 +3.3% 481 498 2Q25 2Q26 +3.4% -2,0p.p. -0,2p.p. 2Q25 2Q26 18,7 22,0 29,9 26,6 29,7 2Q23 2Q24 2Q25 2Q25 - pro forma 2Q26 +16.8% +11.5% 22,0 25,4 31,7 26,3 31,1 2Q23 2Q24 2Q25 2Q25 - Pro forma 2Q26 +12.3% +18.2%
Page 16
16 In 2Q26, Iguatemi ended the quarter with an occupancy rate of 96.9%, representing an increase of 0.5 p.p. compared to 2Q25. This result reinforces the dynamic of continuous portfolio improvement, with increasingly complete shopping malls, a dense and diversified product mix, which sustains customer flow, sales performance, and the expansion of the recurring revenue base. The high occupancy rate reflects the strong demand for space in the Company's ventures and highlights one of its main differentiators, which is its ability to actively manage the retailer mix. Throughout the 2Q26, one of the main moves announced last quarter materialized: the expansion of H&M within Iguatemi's portfolio. The brand opened stores in RIOSUL, Iguatemi Porto Alegre, Esplanada, and Praia de Belas. Similarly, Birkenstock, a brand operated by Iguatemi through i-Retail, opened a store at RIOSUL and signed an agreement with Iguatemi Campinas, reinforcing the Company's role as a preferred platform for leading brands expanding nationally. More details on the i- Retail results can be found on page 21 (link). Iguatemi Campinas stood out in the quarter with the opening of the Zara expansion in an innovative project spanning 2,800 square meters and the inauguration of Carolina Herrera, moves that broaden the offering of international fashion and reinforce the asset's positioning as the main luxury address in the interior of São Paulo state. DIOR – IGUATEMI SÃO PAULO Iguatemi São Paulo was chosen by Dior to house a new 600 square meters store for the Maison, inspired by the brand's flagship store in Paris. The relevance of this project reinforces the asset's position as an unavoidable benchmark for the leading global luxury real estate companies. The decision solidifies the shopping mall as a preferred destination for ultra-high- end consumers and reflects the brand's confidence in the venture's purchasing power. Other relevant agreements Shopping Iguatemi São Paulo Mall: the opening of the Ara Vartanian jewelry store and the Dominique kiosk, which operates Diptyque, and soon will open a spa by the German cosmetics brand, Augustinus Bader. In addition, the shopping mall will also welcome the iconic French patisserie, Ladurée; Shopping Pátio Higienópolis Mall: signing of agreements such as restaurant Casa Europa and the brands Foxton and Oceane; Shopping Iguatemi Esplanada Mall: Inauguration of Life by Vivara and signing of Kiko Milano. OCCUPANCY RATE AND PRODUCT MIX Chapter OCCUPANCY RATE RISES TO 96.9% WITH THE EXPANSION OF GLOBAL BRANDS REINFORCING THE QUALITY OF THE PORTFOLIO Main Indicators Occupancy rate progression (% GLA) 2Q23 2Q24 2Q25 2Q26 92.4% 95.0% 96.4% 96.9% +0.5 p.p. Birkenstock – RIOSUL Shopping Mall
Page 17
17 OCCUPANCY COST In 2Q26, Iguatemi ended the quarter with an occupancy cost of 10.8%, an increase of 0.3 p.p compared to 2Q25. Even with the annual variation, the indicator remained at a healthy level and below the average of recent years, reflecting the capacity for rent growth without compromising the operational sustainability of retailers. NET DELINQUENCYRATE In 2Q26, gross monthly delinquency remained at low levels, in line with the behavior observed over the last few quarters. Low gross delinquency rate, combined with recoveries of loans from previous periods, resulted in net delinquency rate of only 0.1%, a reduction of 1.0 p.p. compared to the historical average for second quarters and still lower than that presented in 1Q26. Compared to 2Q25, net delinquency decreased by 0.2 p.p, reinforcing the quality of the Company's portfolio, the healthy occupancy costs for retailers, and the effectiveness of Iguatemi's collection and credit management mechanisms. OCCUPANCY COST AND DELINQUENCY RATE Chapter Average of 2Qs (2Q10- 2Q26) 2Q23 2Q24 2Q25 2Q26 11.2% 11.3% 10.8% 10.5% 10.8% +0.3 p.p. Occupancy cost progression (%) Net delinquency progression (%) LOW DELINQUENCY RATE AND INCREASED OCCUPANCY COSTS MAINTAIN VALUE CAPTURE THROUGH RENTALS Main Indicators Average of 2Qs (2Q10-2Q26) 2Q24 2Q25 2Q26 1.0% -1.4% 0.3% 0.1% -1.0 p.p. Iguatemi Campinas
Page 18
18 ECONOMIC AND FINANCIAL PERFORMANCE Consolidated Result (1) Excluding the straight-line effect, SWAP of shares. (2) NOI Shopping Malls consolidated in Iguatemi interest (3) NOI pro forma, considers the same interest for both periods Consolidated Income Statement - Management (BRL thousand) 2Q26 2Q25 Change % 06M26 06M25 Change % Minimum monthly rental 217,947 246,127 -11.4% 438,436 456,611 -4.0% Percentage Rental 29,742 29,943 -0.7% 49,447 45,537 8.6% Temporary lease 31,123 31,749 -2.0% 56,689 55,658 1.9% Management fee 23,882 20,469 16.7% 46,796 39,688 17.9% Parking 65,354 72,539 -9.9% 128,735 132,591 -2.9% Others (Mall) 6,236 4,717 32.2% 12,246 11,295 8.4% Retail (Iguatemi 365 and I -Retail) 67,111 53,334 25.8% 123,800 88,939 39.2% Gross Revenue 441,394 458,878 -3.8% 856,148 830,319 3.1% Taxes and discounts -45,175 -51,002 -11.4% -90,472 -91,373 -1.0% Straight-line effect of discounts (1) -2,837 -10,158 -72.1% -11,266 -25,803 -56.3% Net Revenue 393,382 397,718 -1.1% 754,410 713,143 5.8% Costs -72,979 -72,555 0.6% -143,601 -133,595 7.5% Administrative expenses -36,019 -32,359 11.3% -72,972 -68,292 6.9% Pre-Operational Expenses -1,704 -1,088 56.6% -2,786 -1,543 80.6% Other Revenues (Exp.) Operating 4,881 143,824 -96.6% 149,416 155,116 -3.7% Straight-line effect of outlet 4,311 1,486 190.1% 9,655 4,879 97.9% Income using the equity equivalence 366 411 -10.9% 838 804 4.3% EBITDA 292,237 437,436 -33.2% 694,961 670,512 3.6% Depreciation and amortization -37,120 -31,921 16.3% -72,363 -56,542 28.0% EBIT 255,117 405,515 -37.1% 622,598 613,970 1.4% Financial Revenues 61,555 25,674 139.8% 118,760 63,313 87.6% Result from SWAP operation 0 9,941 -100.0% 0 12,890 -100.0% Financial Expenses -146,051 -211,147 -30.8% -304,006 -330,826 -8.1% Income Tax & Social Contribution on Net Profit (CSLL) -35,533 -20,854 70.4% -64,653 -42,771 51.2% Minority interest -31 -29 5.5% -54 -56 -2.8% Net profit 135,058 209,099 -35.4% 372,644 316,521 17.7% Financial Indicators - Management 2Q26 2Q25 Change % 06M26 06M25 Change % Net Revenue 393,382 397,718 -1.1% 754,410 713,143 5.8% EBITDA (BRL thousand) 292,237 437,436 -33.2% 694,961 670,512 3.6% EBITDA Margin 74.3% 110.0% -35.7 p.p. 92.1% 94.0% -1.9 p.p. Net profit (BRL thousand) 135,058 209,099 -35.4% 372,644 316,521 17.7% Net margin 34.3% 52.6% -18.2 p.p. 49.4% 44.4% 5.0 p.p. FFO (BRL thousand) 172,178 241,021 -28.6% 445,007 373,063 19.3% FFO Margin 43.8% 60.6% -16.8 p.p. 59.0% 52.3% 6.7 p.p. Adjusted net revenue (1) 396,020 407,165 -2.7% 764,887 737,140 3.8% Adjusted EBITDA (BRL thousand) (1) 290,565 445,398 -34.8% 695,783 689,630 0.9% Adjusted EBITDA Margin 73.4% 109.4% -36.0 p.p. 91.0% 93.6% -2.6 p.p. Adjusted net profit (BRL thousand) (1) 133,803 208,510 -35.8% 373,261 322,352 15.8% Adjusted net margin 33.8% 51.2% -17.4 p.p. 48.8% 43.7% 5.1 p.p. Adjusted FFO (BRL thousand) (1) 170,923 240,431 -28.9% 445,624 378,894 17.6% Adjusted FFO Margin 43.2% 59.0% -15.9 p.p. 58.3% 51.4% 6.9 p.p. Adjusted NOI (BRL thousand) (2) 304,604 295,841 3.0% 580,572 551,581 5.3% Adjusted NOI margin 94.3% 93.0% 1.3 p.p. 93.3% 92.6% 0.7 p.p. NOI pro forma (BRL thousand) (3) 298,500 286,960 4.0% 574,467 542,700 5.9% NOI pro forma margin 94.3% 93.3% 1.0 p.p. 93.4% 92.7% 0.7 p.p. As announced at the time, the financial results for 2Q25 began to reflect the full consolidation of the interests in the Pátio Higienópolis and Pátio Paulista assets—both by Iguatemi and its partner investors—raising the basis for comparison. It is worth noting that partner interests ceased to be included in our results as of 06/30/2025. The movements were duly communicated through the Market Announcements of April 15, August 5, and August 29, 2025.
Page 19
19 ECONOMIC AND FINANCIAL PERFORMANCE Consolidated Result STATEMENT OF INCOME FOR THE YEAR – MANAGERIAL RECONCILIATION WITH AND WITHOUT STRAIGHT-LINE EFFECT JK Apartment - JK Iguatemi (1) Straight-line effect net of amortization. Income Statement - Reconciliation between the management statement with and without straight-line effect 2Q26 with straight-line effect 2Q26 without straight-line effect 2Q25 with straight-line effect 2Q25 without straight-line effect Minimum monthly rental 217,947 217,947 246,127 246,127 Percentage Rental 29,742 29,742 29,943 29,943 Temporary lease 31,123 31,123 31,749 31,749 Management fee 23,882 23,882 20,469 20,469 Parking 65,354 65,354 72,539 72,539 Others (Mall) 6,236 6,236 4,717 4,717 Retail (Iguatemi 365 and I-Retail) 67,111 67,111 53,334 53,334 Gross Revenue 441,394 441,394 458,878 458,878 Taxes and discounts -45,175 -45,374 -51,002 -51,713 Straight-line effect of discounts (1) -2,837 -10,158 Net Revenue 393,382 396,020 397,718 407,165 Costs -72,979 -72,979 -72,555 -72,555 Administrative expenses -36,019 -36,019 -32,359 -32,359 Pre-Operational Expenses -1,704 -1,704 -1,088 -1,088 Other Revenues (Exp.) Operating 4,881 4,881 143,824 143,824 Straight-line effect on outlet (1) 4,311 1,486 Income using the equity equivalence 366 366 411 411 EBITDA 292,237 290,565 437,436 445,398 Depreciation and amortization -37,120 -37,120 -31,921 -31,921 EBIT 255,117 253,445 405,515 413,477 Financial Revenues 61,555 61,555 25,674 25,674 Result from SWAP operation 0 9,941 Financial Expenses -146,051 -146,051 -211,147 -211,147 Income Tax & Social Contribution on Net Profit (CSLL) -35,533 -35,114 -20,854 -19,465 Minority interest -31 -31 -29 -29 Net profit 135,058 133,803 209,099 208,510 FFO 172,178 170,923 241,021 240,431 As announced at the time, the financial results for 2Q25 began to reflect the full consolidation of the interests in the Pátio Higienópolis and Pátio Paulista assets—both by Iguatemi and its partner investors—raising the basis for comparison. It is worth noting that partner interests ceased to be included in our results as of 06/30/2025. The movements were duly communicated through the Market Announcements of April 15, August 5, and August 29, 2025.
Page 20
20 ECONOMIC AND FINANCIAL PERFORMANCE Consolidated Result STATEMENT OF INCOME FOR THE YEAR – MANAGERIAL RECONCILIATION WITH AND WITHOUT STRAIGHT-LINE EFFECT JK Apartment - JK Iguatemi (1) Straight-line effect net of amortization. Income Statement - Reconciliation between the management statement with and without straight-line effect and Infracommerce 06M26 with straight-line effect 06M25 without straight-line effect 06M25 with straight-line effect 06M25 without straight-line effect Minimum monthly rental 438,436 438,436 456,611 456,611 Percentage Rental 49,447 49,447 45,537 45,537 Temporary lease 56,689 56,689 55,658 55,658 Management fee 46,796 46,796 39,688 39,688 Parking 128,735 128,735 132,591 132,591 Others (Mall) 12,246 12,246 11,295 11,295 Retail (Iguatemi 365 and I-Retail) 123,800 123,800 88,939 88,939 Gross Revenue 856,148 856,148 830,319 830,319 Taxes and discounts -90,472 -91,261 -91,373 -93,179 Straight-line effect of discounts (1) -11,266 -25,803 Net Revenue 754,410 764,887 713,143 737,140 Costs -143,601 -143,601 -133,595 -133,595 Administrative expenses -72,972 -72,972 -68,292 -68,292 Pre-Operational Expenses -2,786 -2,786 -1,543 -1,543 Other Revenues (Exp.) Operating 149,416 149,416 155,116 155,116 Straight-line effect on outlet (1) 9,655 4,879 Income using the equity equivalence 838 838 804 804 EBITDA 694,961 695,783 670,512 689,630 Depreciation and amortization -72,363 -72,363 -56,542 -56,542 EBIT 622,598 623,420 613,970 633,088 Financial Revenues 118,760 118,760 63,313 63,313 Result from SWAP operation 0 12,890 Financial Expenses -304,006 -304,006 -330,826 -330,826 Income Tax & Social Contribution on Net Profit (CSLL) -64,653 -64,859 -42,771 -43,168 Minority interest -54 -54 -56 -56 Net profit 372,644 373,261 316,521 322,352 FFO 445,007 445,624 373,063 378,894 Shopping Iguatemi Brasília Mall As announced at the time, the financial results for 2Q25 began to reflect the full consolidation of the interests in the Pátio Higienópolis and Pátio Paulista assets—both by Iguatemi and its partner investors—raising the basis for comparison. It is worth noting that partner interests ceased to be included in our results as of 06/30/2025. The movements were duly communicated through the Market Announcements of April 15, August 5, and August 29, 2025.
Page 21
21 ECONOMIC AND FINANCIAL PERFORMANCE - MALLS Malls' Results Shopping Iguatemi Brasília Mall (1) Excluding the straight-line effect Income Statement - Shopping Malls Management (BRL thousand)¹ 2Q26 2Q25 Change % 06M26 06M25 Change % Minimum monthly rental 217,947 246,127 -11.4% 438,436 456,611 -4.0% Percentage Rental 29,742 29,943 -0.7% 49,447 45,537 8.6% Temporary lease 31,123 31,749 -2.0% 56,689 55,658 1.9% Management fee 23,882 20,469 16.7% 46,796 39,688 17.9% Parking 65,354 72,539 -9.9% 128,735 132,591 -2.9% Others (Mall) 6,236 4,717 32.2% 12,246 11,295 8.4% Gross Revenue 374,283 405,544 -7.7% 732,348 741,380 -1.2% Taxes and discounts -27,348 -38,077 -28.2% -58,608 -69,939 -16.2% Net Revenue 346,935 367,467 -5.6% 673,741 671,441 0.3% Costs -31,659 -38,257 -17.2% -64,969 -72,780 -10.7% Administrative expenses -36,019 -32,359 11.3% -72,972 -68,292 6.9% Pre-Operational Expenses -1,704 -1,088 56.6% -2,786 -1,543 80.6% Other Revenues (Exp.) Operating 4,553 146,739 -96.9% 149,037 156,986 -5.1% Income using the equity equivalence 366 411 -10.9% 838 804 4.3% EBITDA 282,471 442,912 -36.2% 682,890 686,616 -0.5% EBITDA Margin 81.4% 120.5% -39.1 p.p. 101.4% 102.3% -0.9 p.p. As announced at the time, the financial results for 2Q25 began to reflect the full consolidation of the interests in the Pátio Higienópolis and Pátio Paulista assets—both by Iguatemi and its partner investors—raising the basis for comparison. It is worth noting that partner interests ceased to be included in our results as of 06/30/2025. The movements were duly communicated through the Market Announcements of April 15, August 5, and August 29, 2025.
Page 22
22 Rental revenue decreased by 9.4% compared to 2Q25; the variations will be explained below: • Minimum Rental: The minimum rent shows a decrease of 11.4%, justified by the accounting of partners that occurred in 2Q25. In addition to the effect generated by the reduction in interest in some assets in the last twelve months. Disregarding these effects, rental revenue would show growth of 4.8% versus 2Q25; • Percentage Rental (overage): It showed a reduction of 0.7%, due to the same effects mentioned above, both from the accounting of partners and the reduction in interest in assets. Disregarding the aforementioned effects, growth would be 11.5% versus 2Q25, reflecting the portfolio's ability to capture sales growth from its retailers; • Temporary Leases: a 2.0% reduction, reflecting the same effects already mentioned. According to Pro Forma vision, growth would be 18.2% compared to the previous year, given the capacity for monetization through sponsorships, spaces for exclusive events, and other initiatives. GROSS REVENUE - MALLS RENTAL SHOWS REAL GROWTH ON THE SAME BASIS OF INTEREST , AND ANCILLARY REVENUES MAINTAINS SUSTAINABLE GROWTH Malls' Results Gross revenue from Shopping Malls totaled R$ 374 million in 2Q26, a 7.7% decrease compared to 2Q25, reflecting a higher comparative basis in 2025 due to the structure of the asset purchase operation, Pátio Paulista and Pátio Higienópolis, where the Company accounted for interests related to investors in the operation specifically in this quarter. The chart below shows the effect of these movements, which, when excluded, reflect growth in Gross Revenue "pro forma" of approximately 8.8%. The management fee increased by 16.7%, reflecting the start of charging this fee at Galleria, the Market Place complex, and Shopping Pátio Paulista (from August 1, 2025), in addition to the increased charge on assets in which we reduced our interest over the past 12 months. Parking Revenue in 2Q26 showed a decrease of 9.9% compared to 2Q25, reflecting the same effect explained in the rent item. Disregarding the effects mentioned, the line would have grown 12.4% compared to the previous year, due to the tariff adjustments applied to the portfolio. Vehicle traffic remained stable year- over-year, totaling 7.7 million vehicles in 2Q26, reflecting the consistency of demand and the attractiveness of the Company's assets. Gross revenue growth 2Q26 (R$ million) 6,4% 17,9% 17,5% 75.9% 5.0% 1.2% 2Q25 74.5% 1.7% 2Q26 405,544 374,283 7,1 7,3 7,7 7,7 2Q23 2Q24 2Q25 2Q26 Breakdown of gross revenue in 2Qs (% total) Rental revenue growth 2Q26 (R$ million) Vehicle flow (# millions of vehicles) Rental Management Fee Parking Others Net Gross 2Q25 62 Pro Forma Effect 344 Net Gross 2Q25 - Pro Forma 18 Rental 3 Management Fee Gross Revenue 2Q26 374 Others 2 Parking 7406 308 Rental Revenue 2Q25 30 Pro Forma Effect 277 Rental Receipt 2Q25 - Pro Forma 4 Minimum Rental 2 Overage 3 Temporary Lease 279 Rental Revenue 2Q26
Page 23
23 Rental and Service Costs are down 17.2% compared to 2Q25, resulting from reduced parking and unleased area costs, as well as reflecting equity interests after M&As completed in the last 12 months. Administrative Expenses increased by 11.3% compared to 2Q25. The personnel line showed an increase of 6.6% compared to the same period of the previous year, reflecting annual salary adjustments and the filling of open positions in some areas of the holding company. Expenses related to share-based compensation increased by 15.4%, due to the expansion in 2026 of the number of employees eligible for the program. The increases observed in the other lines are mainly related to recurring expenses for consulting and executive training programs, aligned with strengthening governance and corporate management. It is worth highlighting that Costs and Expenses as a percentage of Net Revenue remain stable, reinforcing the Company's financial discipline. Pre-operationalexpenses Pre-operational expenses totaled R$ 1,704 in 2Q26, representing a 56.6% increase due to the progress of real estate expansion and development projects, including Casa Figueira and the expansions of the Iguatemi Brasília and Iguatemi São Paulo shopping malls. COSTS AND EXPENSES - SHOPPING MALLS OPERATIONAL EFFICIENCY SUSTAINS COSTS AND EXPENSES AS A PERCENTAGE OF NET REVENUE, KEEPING THEM VIRTUALLYSTABLE Malls' Results Costs and Expenses Progression (R$ millions) and % of Net Revenue 36.8 28.8 2Q24 38.3 33.4 2Q25 31.7 37.7 2Q26 65.6 71.7 69.4 22.7% 19.5% 20.0% % Net RevenueCosts Expenses (+ Pre-Operation) Iguatemi Alphaville Expenses - Shopping Mall (BRL MM) 06M26 06M25 Change (%) Personnel -41.6 -40.8 1.9% (-) Non-recurring 3.0 7.1 -57.7% Adjusted Personnel -38.6 -33.7 14.5% Costs and expenses — Malls (R$ thousand) 2Q26 2Q25 Change % 06M26 06M25 Change % Rental and Service Costs -31,659 -38,257 -17.2% -64,969 -72,780 -10.7% Personnel -9,374 -9,870 -5.0% -18,237 -17,924 1.7% Third-party services -4,360 -4,769 -8.6% -7,368 -8,445 -12.7% Promotion Fund -898 -1,230 -27.0% -1,746 -2,026 -13.8% Parking -6,793 -11,503 -40.9% -16,540 -22,864 -27.7% Others -10,233 -10,884 -6.0% -21,077 -21,521 -2.1% Administrative Expenses -36,019 -32,359 11.3% -72,972 -68,292 6.9% Personnel -19,879 -18,643 6.6% -41,637 -40,872 1.9% Share-based compensation -4,556 -3,949 15.4% -9,112 -7,898 15.4% Third-party services -6,833 -5,395 26.7% -12,324 -10,491 17.5% Others -4,752 -4,373 8.7% -9,899 -9,031 9.6% Total -67,679 -70,616 -4.2% -137,941 -141,071 -2.2%
Page 24
24 OTHER OPERATING REVENUES - MALLS Retail Result (1) Without straight-line effect. Other Operating Revenues And Expenses totaled R$ 4.5 million in the quarter, representing a 96.9% reduction compared to 2Q25. The drop reflects a capital gain of R$ 139.1 million related to the sale of minority interests in shopping malls in the previous year. It is worth noting that on a year-to-date basis these effects are comparable. In other lines, outlet fell 46.2% year-on-year, due to a mismatch in the commercial agenda compared to the previous year, while the Other line item registered a drop of 31.1%. PORTFOLIO MATURATIONDRIVES REVENUE GROWTH AND MARGIN EXPANSION In 2Q26, retail operations recorded a 25.8% growth in gross revenue compared to 2Q25, driven by recent openings, such as the arrival of Birkenstock at RIOSUL, and the reopening of the new Goyard store at JK Iguatemi. Even with a strong comparison base from 2Q25, with the openings of Birkenstock at Pátio Higienópolis, Comme des Garçons, and the reopening of Polo Ralph Lauren at Iguatemi São Paulo, same-store sales (SSS) growth reached 15% vs. 2Q25. The costs of goods sold and operating expenses lagged behind revenue growth, increasing by 20.5% compared to the same period of the previous year. The operation showed efficiency gains, resulting in a positive EBITDA of R$ 8 million, with growth of 225.5% compared to 2Q25, and a margin increase of 10.2 p.p., ending at 16.5%. This result highlights the operational leverage of the business model as sales volume grows and the fixed structure is diluted. The quarterly results reinforce I-Retail's execution capabilities, with recent openings contributing to the dilution of the fixed structure and the expansion of profitability. The combination of maturing brands and high- potential new openings sustains the segment's growth trajectory and proves Iguatemi's thesis of developing its own operations aligned with the premium audience of its ventures. RETAIL RESULT OTHER REVENUES AND EXPENSES FALL DUE TO THE CAPITAL GAIN IN 2Q25 Retail Income Statement (I-Retail and Iguatemi 365) 2Q26 2Q25 Change % 06M26 06M25 Change % Gross Revenue 67,111 53,334 25.8% 123,800 88,939 39.2% Taxes and discounts -18,026 -13,636 32.2% -32,654 -23,240 40.5% Net Revenue 49,085 39,699 23.6% 91,146 65,699 38.7% Costs and Expenses -41,320 -34,298 20.5% -78,632 -60,815 29.3% Other Revenues (Exp.) Operating 328 -2,915 -111.3% 379 -1,870 -120.3% EBITDA 8,093 2,486 225.5% 12,893 3,015 327.7% EBITDA Margin 16.5% 6.3% 10.2 p.p. 14.1% 4.6% 9.6 p.p. Other Operating Revenue (Expenses) - Malls (R$ thousand) 2Q26 2Q25 Change % 06M26 06M25 Change % Real estate property development 0 0 0.0% 0 0 - Outlet 2,619 4,866 -46.2% 4,072 7,319 -44.4% Mall sales results 0 139,065 -100.0% 143,354 139,065 3.1% Others 1,935 2,807 -31.1% 1,611 10,602 -84.8% Total 4,553 146,739 -96.9% 149,037 156,985 -5.1%
Page 25
25 Recurring Net Financial Result totaled R$ 84 million in 2Q26, showing a 32.8% improvement compared to 2Q25. Financial Revenues increased 72.8% vs. 2Q25, driven by a 10.2% increase in income from financial investments and the positive variation in the Other Financial Revenues line item, which ended the quarter at R$ 14.6 million, benefiting from the appreciation of assets held in foreign currency as well as the updating of trade receivables associated with M&A transactions during the period. Financial Expenses decreased by 9.5% compared to 2Q25 recurring, reflecting lower capital costs as well as a reduction in accounts payable associated with M&A transactions carried out in recent quarters. FINANCIAL RESULT FINANCIAL RESULTS SHOW IMPROVEMENT EVEN IN AN ENVIRONMENT OF HIGH INTEREST RATES Financial Result Net Financial Result - Management (R$ thousand) 2Q26 2Q25 Change % 06M26 06M25 Change % Financial Revenues 61,555 35,615 72.8% 118,760 76,203 55.8% Income from investments 46,882 42,537 10.2% 101,935 88,595 15.1% Result from SWAP operation 9,941 n/a 12,890 n/a Others 14,673 -16,863 -187.0% 16,825 -25,282 -166.5% Financial Expenses -146,051 -161,409 -9.5% -304,006 -281,088 8.2% Interest expenses -140,386 -144,600 -2.9% -284,337 -261,429 8.8% Others -5,666 -16,809 -66.3% -19,669 -19,659 0.0% Total - Recurring -84,496 -125,795 -32.8% -185,246 -204,885 -9.6% Non-recurring Financial Result (R$ thousand) 2Q26 2Q25 Change % 06M26 06M25 Change % CRI Partners Interest -14,876 n/a -14,876 n/a AVP sale of assets (CPC-12) -34,862 n/a -34,862 n/a Total - Non-Recurring -49,738 n/a -49,738 n/a Total -84,496 -175,533 -51.9% -185,246 -254,623 -27.2% Casa Jereissati
Page 26
26 INCOME TAX AND SOCIAL CONTRIBUTION (CURRENT AND DEFERRED) The effective income tax and social contribution rate ended 2Q26 at 20.8%, an increase of 12.2 p.p. compared to 2Q25, which had closed at 8.5%, due to the impact of the rate reduction from the sale of asset interest. (1) Excluding the straight-line effect and the result of the SWAP of shares NOI, Net Profit, and FFO NOI, NET PROFIT, AND FFO NOI Progress (R$ millions) 295.8 93.0% 2Q25 281.6 93.9% 2Q25 - Pro Forma 298.5 94.6% 2Q26 +6.0% 2Q25 2Q25 - Recurring 2Q26 208.5 109.6 133.8 22.1% Adjusted Net Profit Progress(1) (R$ millions) Iguatemi Tower Porto Alegre 2Q25 2Q25 - Recurring 2Q26 240.4 141.2 170.9 21.0% Adjusted FFO Progress(1) (BRL millions)
Page 27
27 INDEBTEDNESS CRI ENROLLMENTOF R$ 535 MILLIONAT97% OF THE CDI RA TEENABLESLIABILITYMANAGEMENT Indebtedness Iguatemi ended 2Q26 with leverage of 1.62x (Net Debt/Adjusted EBITDA), compared to 1.29x in 1Q26. The progress of Total Debt and Cash and Cash Equivalents in the quarter incorporates the R$ 535 million enrollment at the end of 2Q26 through CRI that registered demand of 1.2x the offered volume, demonstrating the market's recognition of the Company's credit quality. The transaction was issued at 97% of the CDI rate, taking advantage of a favorable market window. Cash and cash equivalents ended the quarter with a 13% increase. During the period, cash flow was impacted by dividend payments and disbursements related to the acquisitions of Pátio Higienópolis and Pátio Paulista, effects that were more than offset by the enrollment of CRI. Excluding capital gains from the sale of minority interests in 2Q25 and 1Q26, adjusted leverage would end the quarter at 1.81x. The enrollment is part of a liability management operation. In early July, the Company prepaid bonds with a cost of CDI rate + 1.63% and maturities in 2027 and 2028. With this substitution, the average cost of debt should decrease in the coming quarters to approximately 100.5% to 101.0% of the CDI rate, a more favorable level than that reported at the end of 2Q26 (101.9% of the CDI rate), and the average maturity will increase from the current 4.7 years to 4.9 years, combining a longer maturity profile and a reduction in financial expenses in the coming periods. Consolidated Data (R$ thousand) 06/30/26 03/31/26 Change % Total Debt 4,436,282 3,941,725 12.5% Cash and Cash Equivalents 2,298,069 2,033,267 13.0% Net Debt 2,138,213 1,908,458 12.0% EBITDA (LTM) 1,292,761 1,437,961 -10.1% Adjusted EBITDA (LTM)(1) 1,322,778 1,477,612 -10.5% Net Debt/EBITDA 1.65x 1.33x 0.33x Net Debt/Adjusted EBITDA (1) 1.62x 1.29x 0.32x Cost of Debt (% CDI rate) 101.9% 102.2% -0.3 p.p. Debt Term (years) 4.7 4.5 0.22 2,3 1,9 1,8 2,3 1,7 1,8 1,8 1,8 2,0 3,1 2,9 3,4 3,3 4,0 3,5 3,4 4,1 4,1 4,0 4,0 3,9 4,4 1.2 2Q23 1.1 3Q23 1.6 4Q23 1.6 1Q24 3Q24 4Q24 1Q25 2Q25 3Q25 3Q25 4Q25 1Q26 2Q26 Gross Debt Cash and Cash Equivalents 2,36 2,13 1,91 1,84 1,80 1,67 1,84 1,76 1,90 1,64 1,68 1,29 1,62 Net Debt/Adjusted EBITDA 13.8% 2Q23 12.9% 12.8% 3Q23 12.4% 11.7% 4Q23 11.5%13.8% 10.8% 1Q24 11.1% 10.4% 2Q24 10.7% 3Q24 12.8% 15.2% 14.2% 14.9% 14.5% 12.2% 15.2% 1Q25 14.9% 15.3% 4Q25 15.0% 11.3% 3Q25 14.9% 1Q26 14.4% 4Q24 14.2% 2Q25 2Q26 14.7% Iguatemi Current rate Interbank Deposit Certificate (CDI) rate (1) Excluding the straight-line effect and swap of shares. Debt and leverage progress 1,60x without capital gain 1,81x without capital gain
Page 28
28 INDEBTEDNESS THE COST OF DEBT REMAINS STABLE, EVEN IN AN ENVIRONMENT OF HIGH INTEREST RATES Indebtedness 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Debt Term (years) 4.7 4.7 4.6 4.3 4.7 5.5 5.3 5.1 4.9 4.8 4.7 4.5 4.7 Cost of Debt (% CDI rate) 101% 102% 106% 107% 107% 106% 105% 103% 102% 102% 102% 102% 102% Total Debt by Index and Term (R$ thousand) 06/30/2026 % 03/31/2026 % Reference Rate (TR) 261,003 5.9% 271,954 6.9% Interbank Deposit Certificate (CDI) rate 4,175,279 94.1% 3,669,772 93.1% Short term 498,422 11.2% 385,588 9.8% Long Term 3,937,860 88.8% 3,556,137 90.2% Debt profile by index Debt profile by type¹ 94,1% 5.9% Reference Rate (TR) Interbank Deposit Certificate (CDI) rate 19,4% 21,6% 58,9% Other loans Bonds Real Estate Receivables Certificate (CRI) Debt amortization schedule (1) - Annual (R$ millions) 86 86 86 86 69 46 37 37 37 229 8 443 73 426 367 712 547 200 318 118 150 150 16 2027 2028 2029 2030 2031 2032 12 2033 2034 2 2,298 2036 2037- 2043 2,298 251 420 648 309 662 436 759 49 584 39 37 229 Current cash 43 2026 2035 Bonds Real Estate Receivables Certificate (CRI) Other loans (1) Cash vision; does not include the prepayment of the 2nd series of the 11th bond issuance (IGTAB1) made on July 1, 2026; Cash coverage The Company prepaid the 11th bond issuance on 07/01/26. With that, the 2027 and 2028 maturities were brought forward, extending the term and reducing the cost of the debt.
Page 29
29 CAPEX (R$ thousand) 2Q26 06M26 Maintenance 23,443 32,977 Real Estate Property Development 80,639 141,765 Others 28,206 51,702 Total(1) 132,289 226,444 Acquisitions 54,272 54,680 Divestments(2) - -260,371 Total Net Investment 186,561 20,753 (1) Operating Cash adjusted to negative R$ 196.0 million relating to interest payments and net monetary variations. (2) Investment Cash adjusted to negative R$ 196.8 million classified as "Financial Investments." (3) Financing Cash adjusted to R$ 137.1 million in "Others." CASH FLOW Cash Flow and Investments Iguatemi's adjusted cash balance (considering the balance of Cash, Cash Equivalents, and Financial Investments) increased by R$ 264.8 million compared to the previous quarter (1Q26), ending at R$ 2,298 million. The main variations were (R$ million): • Net cash generated from operating activities(1) of R$ 246.8 million; • Net cash from investing activities(2) negative by R$ 89.8 million; • Net cash from financing activities(3) of positive R$ 107.8 million. In 2Q26, Iguatemi invested R$ 132.3 million in total CAPEX. Considering M&As (Acquisitions and sales), the total net investment was R$ 186.6 million in the quarter. 2.033,3 2.298,1 246,8 Opening Balance (1Q26) Operations 89.8 Investments 107.8 Loan Final Balance (2Q26) INVESTMENTS (1) This does not include capitalization amounts, which totaled R$ 24.3 million on a year-to-date basis. (2) The value takes into account the R$ 191.7 million received in XPML11 shares in March 2026, in addition to the R$ 68.7 million received in cash. Shopping Higienópolis Mall
Page 30
30 IGUATEMI PORTFOLIO Iguatemi Portfolio Portfolio City Total Average GCA (m2)(1) Average Total GLA (m²) Iguatemi Interest Iguatemi GLA (m²) Occupancy rate Iguatemi São Paulo São Paulo 48,459 48,459 59.66% 28,911 98.1% JK Iguatemi São Paulo 34,083 34,083 100.00% 34,083 98.3% Pátio Higienópolis São Paulo 34,118 34,118 28.95% 9,877 98.3% Pátio Paulista São Paulo 38,135 38,135 14.45% 5,510 99.0% Market Place São Paulo 20,729 20,729 51.00% 10,572 93.5% Iguatemi Alphaville Barueri 30,961 30,961 51.00% 15,790 96.5% Iguatemi Campinas Campinas 77,499 73,330 70.00% 51,331 95.9% Galleria Campinas 32,161 32,161 51.00% 16,402 97.2% Iguatemi Esplanada (2) Sorocaba 64,109 64,109 61.01% 39,115 96.7% Iguatemi Esplanada- proprietary area (3) Sorocaba 6,556 3,678 100.00% 3,678 100.0% Shopping Rio Sul Mall Rio de Janeiro 51,812 51,812 16.63% 8,616 99.1% Iguatemi Ribeirão Preto Ribeirão Preto 43,382 43,382 65.00% 28,198 92.7% Iguatemi Rio Preto São José do Rio Preto 43,748 43,748 70.00% 30,624 91.3% Southeast Subtotal 525,752 518,705 54.50% 282,708 96.4% Iguatemi Porto Alegre (4) Porto Alegre 68,823 68,823 42.58% 29,305 98.6% Praia de Belas Porto Alegre 46,168 46,168 50.55% 23,338 95.5% South Subtotal 114,991 114,991 45.78% 52,643 97.9% Iguatemi Brasília Brasília 34,551 34,551 64.00% 22,113 98.2% Federal District Subtotal 34,551 34,551 64.00% 22,113 98.2% I Fashion Outlet Novo Hamburgo Novo Hamburgo 20,054 20,054 51.00% 10,228 98.1% I Fashion Outlet Santa Catarina Tijucas 20,119 20,119 54.00% 10,865 96.8% Power Center Iguatemi Campinas (5) Campinas 27,534 27,534 77.00% 21,201 99.8% Outlet and Power Center Subtotal 67,708 67,708 62.46% 42,293 98.4% Shopping Malls Subtotal 743,002 735,955 54.32% 399,757 96.9% Market Place Tower I São Paulo 15,345 15,345 51.00% 7,826 100.0% Market Place Tower II São Paulo 13,389 13,389 51.00% 6,828 81.4% Iguatemi Tower Porto Alegre (4) Porto Alegre 10,276 10,276 42.58% 4,376 100.0% Sky Galleria Tower Campinas 14,500 14,500 52.00% 7,540 100.0% Towers Subtotal 53,510 53,510 49.65% 26,570 95.3% Total 796,512 789,465 54.00% 426,327 96.8% 1) Gross Commercial Area (GCA) includes, in some ventures, proprietary areas that do not belong to Iguatemi. 2) Considers the Iguatemi Esplanada complex, including Esplanada Shopping and Iguatemi Esplanada. 3) Area owned by Iguatemi on the Esplanada held through a subsidiary. 4) Considers the indirect interest of 6.58% held through Maiojama Participações. 5) Power Center located attached to Shopping Iguatemi Campinas.
Page 31
31 CONSTRUCTION POTENTIAL OUR EXTENSIVE LAND INVENTORY ALLOWS US TO CONTINUE WITH OUR DENSIFICATION STRATEGYAND POTENTIAL EXPANSIONS Chapter In the medium/long term, Iguatemi will continue to use its construction potential of approximately 1,568 thousand square meters of private/real estate area to strengthen its existing properties. As mentioned in the latest results reports, part of our strategy comes from densifying the areas surrounding our ventures. For this reason, we have been selling fractions of our land for the development of mixed-use projects (commercial, residential, mixed, and multifamily). Enterprise Land area (m²) Potential Development m² (shopping mall and tower) % Iguatemi Iguatemi Campinas - Annex Land (1) 303,352 1,009,072 24.8% Iguatemi Campinas 124,892 67,600 70.0% Iguatemi Campinas - Power Center 59,400 181,635 77.0% Iguatemi Porto Alegre 96,440 30,600 42.6% Iguatemi Esplanada 240,782 188,355 41.3% Galleria 92,309 43,500 51.0% Iguatemi Brasília 80,967 5,292 64.0% Iguatemi Rio Preto 108,112 41,500 70.0% Total 1,106,254 1,567,554 37.2% Built/commercializedGLA 365,420 Percentage of expansion 429.0% (1) Exchange option + preference. Note: Indicative landbank. Projects may be altered, changing the coefficients of use and usage of the construction potential. Iguatemi Portfolio Iguatemi Brasília
Page 32
32 INVESTMENT PROPERTIES THE ESTIMATED FAIR VALUE OF THE PROPERTIES IN OPERATION IS 78.8% ABOVE THE COMPANY'S ENTERPRISE VALUE. Chapter The fair value of properties in operation and under development, already considering the interests acquired in the Pátio Paulista and Pátio Higienópolis shopping mallsand the sales of minority interests that took place in 1Q26, ended the first half of 2026 at R$16.8 billion, 78.8% above the Company's Enterprise Value in 2Q26. The fair value of investment properties was estimated using the Discounted Cash Flow methodology. All calculations are based on the analysis of the physical qualifications of the properties under study and on various information gathered in the market, which are used to determine the fair value of the developments. The following assumptions were used: i. Actual discount rate of 9.2% p.a.; ii. Perpetuity real growth rate of 2.0% p.a.; iii. No greenfield projects are included in the calculation. Equivalent Unit 2017 2018 2019 2020 2021 2022 2023 2024 2025 6M26 Value at 100% (BRL million) 19,328 21,830 24,780 24,888 23,859 20,908 22,728 26,988 32,203 32,203 Iguatemi Interest (BRL million) 10,534 11,872 14,011 14,612 14,034 12,752 14,070 15,631 17,168 16,763 Total GLA (thousand m²) 746 757 710 711 709 723 727 753 753 751 Owned GLA (thousand m²) 455 459 453 471 469 489 490 481 481 450 Number of Shares (thousand) 176,612 176,612 176,612 176,612 264,109 300,585 300,585 300,585 296,728 296,728 Share price (BRL) 37.14 36.86 52.98 39.97 16.90 17.59 23.63 17.27 25.57 25.01 NAV per Share (BRL) 59.65 67.22 79.33 82.74 53.14 42.42 46.81 52.00 57.86 56.49 Base date: 06/30/2026 6.899 7.469 9.377 16.763 Market Cap (Jun/25) Market Cap (Jun/26) EV NAV 8.3% 78.8% (1) Market Cap and EV base date: 06/30/2026; NAV and Company Market Cap (R$ millions)(1) Iguatemi Portfolio JK Iguatemi
Page 33
33 EVENTS Chapter CONTEMPORARYBRAZIL Reinforcing its position as a promoter of culture and knowledge, Iguatemi launched the Contemporary Brazil series, led by Professor Fernando Schüler and held at the new Teatro Iguatemi São Paulo Theater. The initiative brings together experts to discuss topics relevant to the country's development. In recent editions, Professor HOC, Marcos Troyjo, and Luiz Felipe Pondé discussed Brazil's position in the face of global economic, technological, and geopolitical changes, promoting reflection on the challenges and opportunities for the country's development. IGUATEMI TALKS WELLNESS Following the success of Iguatemi Talks Fashion, JK Iguatemi launched the 1st edition of Iguatemi Talks Wellness in June, an initiative focused on the themes of well-being, longevity, and quality of life. The event brought together major national and international figures in a program of panels and immersive experiences. With 20% participation from Iguatemi One customers, the event featured activations from partner brands, such as ALO Yoga, and generated widespread media coverage, with the potential to reach over 2 million people. 12th EDITION OF CINE VISTA - JK IGUATEMI Reinforcing its role as one of the main cultural and entertainment hubs in the city of São Paulo, JK Iguatemi held the 12th edition of Cine Vista between May and June, a proprietary event already established in the city's cultural calendar. The event featured 23 films and achieved 100% occupancy, bringing together more than 2,000 people, 37.5% of whom were Iguatemi One customers, and was sponsored by Bradesco Principal. ARRAIÁ - SHOPPING RIOSUL MALL Reinforcing its position as an important leisure and entertainment hub, Shopping RIOSUL Mall held the second edition of its traditional Arraiá (Brazilian June Festival) on June 27 and 28, under the management of Iguatemi. The event brought together more than 5,000 people in a program that combined musical attractions, children's activities, and food options, and was sponsored by Bradesco and iFood. In addition to strengthening relationships with customers and sponsors, the initiative raised 1.4 tons of food for the Viva Rio NGO and generated wide media visibility, with 12 articles published. PÁTIO GOURMET - PÁTIO HIGIENÓPOLIS On June 27 and 28, Pátio Higienópolis hosted the 13th edition of Pátio Gourmet, bringing together 15 restaurants from São Paulo in an open-air experience focused on gastronomy, entertainment, and socializing. With an audience exceeding 8,000 people, the event featured sponsorship and activations from brands such as Bradesco Principal, American Express, and Gourmet iFood, in addition to musical performances and children's activities in partnership with Ri Happy. Institutional Communication and IR NEW INITIATIVES REINFORCE THE POSITIONING OF THE ASSETS AS CENTERS OF CULTURE, WELL-BEING, AND EXPERIENCES Teatro Iguatemi Theater - Contemporary Brazil JK Iguatemi RIOSUL JK Iguatemi
Page 34
34 ESG Iguatemi has published its 4th Sustainability Report, consolidating another cycle of an ESG agenda integrated into its business strategy. The document reflects a journey that has evolved from laying the groundwork in 2021 to a stage of maturity, translating into concrete progress in all three dimensions of the agenda. Environmental| Decarbonizationwith method The year 2025 marked the structuring of the decarbonization plan aligned with the SBTi (Science Based Targets initiative) methodology, guiding the reduction of Scope 1 and 2 emissions in the coming years. The results already reflect this trajectory: The Company operates with 100% renewable energy, has achieved 94.3% waste reuse, and maintains its Gold Seal in the GHG Protocol for the third consecutive year. Furthermore, the progress towards LEED certification of the portfolio continues as an active front in the sustainable construction strategy. Social | Diversity that reflects culture In the people-focused agenda, the highlight was the representation of women at all levels of leadership: 56% of the Executive Committee, 40% of the statutory executive board, and 54% of leadership positions are held by women. This result is in addition to a consistent investment in development, training and well-being, recognized by maintaining the Top Employer seal for the 5th consecutive year. Iguatemi also structured a new Private Social Investment strategy, which reached BRL 12 million in 2025, distributed among Cities, Citizenship, Education, and Culture. Governance | Maturity and transparency In governance, the annual evaluation of the Board of Directors achieved a 94.3% approval rating (+3 p.p. vs. 2024), reinforcing the soundness of internal practices. In the market, the Company renewed its presence in the ISE B3 portfolio (75.83 points), and maintained its B rating in the CDP, in addition to advancingin the prototypingof adjustmentsto IFRS S1 and S2. These advancements reinforce Iguatemi's commitment to generating long-term sustainable value, supported by responsible management of environmental, social, and governance aspects. IGUATEMIRELEASES ITS 4TH SUSTAINABILITY REPORT ChapterInstitutional Communication and IR Casa Figueira Campinas - LEED Gold Offsite Leadership - 2025 Iguatemi Ribeirão Preto - Pink October
Page 35
35 CAPITAL MARKETS Capital Markets Iguatemiis listed on the B3 stock exchange,with the tickersymbolsIGTI11, IGTI3, and IGTI4, and is part of severalindices,such as: GPTW, IBOV, ISE, IBRA, IBXX, ICO2, IDVR, IGCT, IGCX, IMOB, ITAG, SMLL, TEVA,FTSEEmergingMarkets. Our main shareholders and the Company's free float, as of 06/30/2026, are described in the table below: Quarterly average daily volume (R$ thousand) Shareholding Structure (Iguatemi S.A.) IGTI3 (Common) IGTI4 (Preferred) IGTI11 (Units) Equivalent Unit # Common shares # Preferred shares # Common shares # Preferred shares (theoretical) % total Controlling Shareholder 530,132,630 0 4,209,970 8,419,940 79,943,203 26.94% Free Float 22,810,520 2,253,998 212,246,855 424,493,710 216,471,500 72.95% Treasury 1,510,000 36,200 82,454 164,908 313,683 0.11% Total 554,453,150 2,290,198 216,539,279 433,078,558 296,728,385 100.0% IGTI11 Final price (06/30/2026) R$ 25.01 Highest price 2Q26 R$ 30.19 Lowest price 2Q26 R$ 23.30 Appreciation in 2Q26 -11.58% Number of equivalent units 296,728,385 Market Cap (06/30/2026) R$ 7,421,176,916 Average daily liquidity 2Q26 R$ 58,191,018 Source: Bloomberg. Base date: 06/30/2026 Iguatemi's Unit closed the 2Q26 trading at R$ 25.01. Currently, 14 market analysts have active coverage at Iguatemi. 66.008 51.560 53.339 65.573 58.191 2Q25 3Q25 4Q25 1Q26 2Q26 Source: Bloomberg. Base date: 06/30/2026 Shopping JK Iguatemi 0,67 0,67 2Q25 2Q26 +0.1% The returngeneratedfor shareholdersclosed2Q26 withan increaseof 3.5% comparedto 2Q25. Return generated to the shareholder (R$/share)* Dividend/share Buyback/share *Dividends + Treasury shares buyback divided by equivalent Units in the period
Page 36
36 CAPITAL MARKETS Capital Markets Following the conclusion of the previous program, in which the Company executed 26% of the approved volume, Iguatemi approved, on June 9, 2026, a new share buyback program of R$ 60.3 million (~2.5 million equivalent units). The continuation of the program reflects the Company's discipline in capital allocation and its opportunistic approach to acquiring shares at attractive levels. By the end of 2Q26, 72,286 equivalent units (IGTI11, IGTI3 and IGTI4) had been acquired under the new program, representing approximately 3% of the approved volume and an investment of R$ 1.7 million. Taking both programs into account, the total number of shares acquired in 2Q26 was 398,943 equivalent units. 813 840 89 2Q25 3Q25 4Q25 1Q26 1,167 2Q26 1.255 Balance of the share buyback program - Quantity (thousand) (1) 2T26 - novo programa 21,0 22,6 24,7 27,4 26,5 Average price of IGTI11 in the period (BRL/Unit) Progress in the share buyback program and SWAP Shopping RIOSUL Mall (1)Equivalent units, considers buyback of IGTI11, IGTI3, and IGTI4.
Page 37
37 As of the first quarter of 2022, the Company and its subsidiaries began using the auditing services of Deloitte Touche Tohmatsu Limited. The Company's policy for contracting services not related to external auditing from our independent auditors is based on the principles that preserve the independent auditor's independence. These internationally accepted principles are: (a) the auditor must not audit their own work; (b) the auditor must not hold a management position in their customer; and (c) the auditor must not promote their customer's interests. Note: Non-financial data, such as GLA, average sales, average rents, occupancy costs, average prices, average quotes, EBITDA and Pro-forma Cash Flow, have not been reviewed by our independent auditors. The Company is bound by arbitration at the Market Arbitration Chamber, as per the arbitration clause contained in its Articles of Incorporation. INDEPENDENT AUDITING SERVICES — COMPLIANCE WITH CVM INSTRUCTION 381/2003 Capital Markets A BOUT I G UATEMI S . A. Iguatemi is one of the largest full-service companies in the Brazilian shopping mall industry. Its activities cover the whole range of the business, from conception, planning to development and management of regional shopping malls, premium e-commerce under the marketplace model, premium outlets and mixed-use real estate complexes with office and residential towers. The Company was a pioneer in opening the country's first shopping center, Iguatemi São Paulo, which is celebrating 60 years in the market in 2026, and currently holds interest in 17 shopping malls, two premium outlets, a premium e-commerce marketplace, and four commercial towers. The ventures together total 789.4 thousand square meters of average total GLA, with their owned GLA corresponding to 449.5 thousand square meters. Iguatemi shares are traded on the B3 [IGTI11] and are part of the Ibovespa Index. Also, since January 2, 2024, the Company has been part of the B3 Corporate Sustainability Index ("ISE B3") portfolio, a national reference in corporate sustainability. Considerations regarding business prospects, estimates of operating and financial results, and growth prospects for Iguatemi, eventually expressed in this report, constitute only projections and, as such, are based exclusively on Iguatemi's management's expectations regarding the future of the business and its continued access to capital to finance the Company's business plan. These considerations depend substantially on changes in market conditions, government regulations, competitive pressures, the performance of the sector and the Brazilian economy, among other factors, and are therefore subject to change without notice. Iguatemi São Paulo
Page 38
38 APPENDIX Appendix As announced at the time, the results for 2Q25 began to reflect the full consolidation of the interests in the Pátio Higienópolis and Pátio Paulista assets—both by Iguatemi and its partner investors—, raising the basis for comparison for that quarter. Effective 06/30/2025, the partners' interests will no longer be included in the Company's result. The movements were duly communicated in the Market Announcements of April 15, August 5, and August 29, 2025. This effect is not isolated. In the last year, the Company conducted a significant cycle of portfolio movements, combining strategic acquisitions, increased interest in dominant ventures, and recycling of assets with lower relative potential—in total, 8 assets had changes in interest, as detailed in the table on the side. To ensure comparability between 2Q25 and 2Q26, the Company recalculated 2Q25 on a pro forma basis, excluding the results of assets that experienced changes in interest during the period, as per the reconciliation in the next page. % Iguatemi Portfolio 2Q26 2Q25 Var. p.p. Pátio Paulista 14.5% 11.5% +3.0 Market Place 51.0% 100.0% -49.0 Market Place Towers 51.0% 100.0% -49.0 Iguatemi Alphaville 51.0% 60.0% -9.0 Galleria 51.0% 100.0% -49.0 Iguatemi Ribeirão Preto 65.0% 89.0% -23.9 Iguatemi Rio Preto 70.0% 88.0% -18.0 Praia de Belas 50.6% 57.6% -7.0 Shopping Pátio Higienópolis
Page 39
39 APPENDIX Appendix Adjusted Managerial Income Statement – Reconciliation of Recurring and pro forma 2Q26 excluding straight-line effect 2Q25 excluding straight-line effect % partners and capital gain adjustment 2Q25 Recurring 2Q26 vs 2Q25 Recurring Pro Forma adjustment 2Q25 pro forma 2Q26 vs 2Q25 pro forma Minimum monthly rental 217,947 246,127 13,696 232,431 -6.2% -24,489 207,942 4.8% Percentage Rental 29,742 29,943 1,048 28,895 2.9% -2,216 26,679 11.5% Temporary lease 31,123 31,749 1,658 30,091 3.4% -3,767 26,323 18.2% Management fee 23,882 20,469 0 20,469 16.7% 0 20,469 16.7% Parking 65,354 72,539 3,512 69,027 -5.3% -10,893 58,134 12.4% Others (Mall) 6,236 4,717 0 4,717 32.2% -349 4,368 42.8% Retail (Iguatemi 365 and I-Retail) 67,111 53,334 0 53,334 25.8% 0 53,334 25.8% Gross Revenue 441,394 458,878 19,915 438,964 0.6% -41,715 397,249 11.1% Taxes and discounts -45,374 -51,713 -1,758 -49,955 -9.2% 7,496 -42,459 6.9% Net Revenue 396,020 407,165 18,157 389,008 1.8% -34,219 354,790 11.6% Costs -72,979 -72,555 -1,671 -70,883 3.0% 8,347 -62,536 16.7% Administrative expenses -36,019 -32,359 -172 -32,187 11.9% 0 -32,187 11.9% Pre-Operational Expenses -1,704 -1,088 0 -1,088 56.6% 0 -1,088 56.6% Other Revenues (Exp.) Operating 4,881 143,824 140,643 3,181 53.5% -248 2,933 66.4% Income using the equity equivalence 366 411 0 411 -10.9% 0 411 -10.9% EBITDA 290,565 445,398 156,956 288,442 0.7% -26,120 262,322 10.8% Depreciation and amortization -37,120 -31,921 -270 -31,651 17.3% - - - EBIT 253,445 413,477 156,686 256,790 -1.3% - - - Financial Revenues 61,555 25,674 0 25,674 139.8% - - - Result from SWAP operation 0 0 0 0 n/a - - - Financial Expenses -146,051 -211,147 -49,738 -161,408 -9.5% - - - Income Tax & Social Contribution on Net Profit (CSLL) -35,114 -19,465 -8,017 -11,448 206.7% - - - Minority interest -31 -29 0 -29 5.2% - - - Net profit 133,803 208,510 98,932 109,579 22.1% - - - FFO 170,923 240,431 99,202 141,230 21.0% - - - Adjusted Managerial Income Statement – Reconciliation of Recurring and pro forma 6M26 excluding straight- line effect 6M25 excluding straight-line effect % partners and capital gain adjustment 6M25 Recurring 6M26 vs 6M25 Recurring Pro Forma adjustmen t 6M25 pro forma 6M26 vs 6M25 pro forma Minimum monthly rental 438,436 456,611 13,696 442,915 -1.0% -24,489 418,426 4.8% Percentage Rental 49,447 45,537 1,048 44,489 11.1% -2,216 42,273 17.0% Temporary lease 56,689 55,658 1,658 54,000 5.0% -3,767 50,232 12.9% Management fee 46,796 39,688 0 39,688 17.9% 0 39,688 17.9% Parking 128,735 132,591 3,512 129,079 -0.3% -10,893 118,186 8.9% Others (Mall) 12,246 11,295 0 11,295 8.4% -349 10,945 11.9% Retail (Iguatemi 365 and I- Retail) 123,800 88,939 0 88,939 39.2% 0 88,939 39.2% Gross Revenue 856,148 830,319 19,915 810,404 5.6% -41,715 768,690 11.4% Taxes and discounts -91,261 -93,179 -1,758 -91,422 -0.2% 7,496 -83,925 8.7% Net Revenue 764,887 737,140 18,157 718,983 6.4% -34,219 684,764 11.7% Costs -143,601 -133,595 -1,671 -131,923 8.9% 8,347 -123,576 16.2% Administrative expenses -72,972 -68,292 -172 -68,119 7.1% 0 -68,119 7.1% Pre-Operational Expenses -2,786 -1,543 0 -1,543 80.6% 0 -1,543 80.6% Other Revenues (Exp.) Operating 149,416 155,116 140,643 14,473 932.4% -248 14,225 950.4% Income using the equity equivalence 838 804 0 804 4.3% 0 804 4.3% EBITDA 695,783 689,630 156,956 532,674 30.6% -26,120 506,554 37.4% Depreciation and amortization -72,363 -56,542 -270 -56,272 28.6% - - - EBIT 623,420 633,088 156,686 476,402 30.9% - - - Financial Revenues 118,760 63,313 0 63,313 87.6% - - - Result from SWAP operation 0 0 0 0 n/a - - - Financial Expenses -304,006 -330,826 -49,738 -281,087 8.2% - - - Income Tax & Social Contribution on Net Profit (CSLL) -64,859 -43,168 -8,017 -35,151 84.5% - - - Minority interest -54 -56 0 -56 -2.9% - - - Net profit 373,261 322,352 98,932 223,421 67.1% - - - FFO 445,624 378,894 99,202 279,694 59.3% - - -
Page 40
40 APPENDIX Appendix RECONCILIATION BETWEEN CONSOLIDATED FINANCIAL AND MANAGEMENTSTATEMENTS. The Company's managerial information, based on the statement of profit or loss for the consolidated year, was prepared to reflect the Company's interest in all Malls and Towers in its portfolio, including consolidating the indirect interest of 6.58% in Shopping Iguatemi Porto Alegre Mall and attached Tower (Iguatemi Business) as of January 1, 2020. In accordance with the accounting standards, this interest is recorded in the income using the Equity Equivalence in the statement of profit or loss for the period. Furthermore, the Company presents adjusted managementfigures,which excludethe effectsof discountstraight-line effect and outlets,believing that this view reflects the best possible understanding of the financial results for the period. Finally, for a better understandingof the shoppingmall businessresults,the shoppingmall and retail results have been separated between pages16 and 18. CONSOLIDATED FINANCIAL STATEMENTS FOR THE SECOND QUARTER OF 2026 MANAGERIAL CONSOLIDATED STATEMENT OF INCOME FOR THE FISCAL YEAR Management Income Statement 2Q26 2Q25 Change % 06M26 06M25 Change % Gross Revenue 441,394 458,878 -3.8% 856,148 830,319 3.1% Deductions, taxes, and contributions -48,012 -61,160 -21.5% -101,738 -117,177 -13.2% Net Revenue 393,382 397,718 -1.1% 754,410 713,143 5.8% Cost of Goods and/or Services Sold -95,119 -94,871 0.3% -170,613 -152,249 12.1% Gross Result 298,263 302,847 -1.5% 583,797 560,894 4.1% Operating Revenues/Expenses -43,146 102,668 -142.0% 38,801 53,076 -26.9% General & Administrative Expenses -52,704 -43,052 22.4% -121,109 -107,722 12.4% Other Operating Revenues and Expenses 9,192 145,310 -93.7% 159,071 159,995 -0.6% Equity Equivalence 366 411 -10.9% 838 804 4.3% Result Before Financ. Income and Taxes 255,117 405,515 -37.1% 622,598 613,970 1.4% Financial Result -84,496 -175,533 -51.9% -185,246 -254,623 -27.2% Financial Revenues 61,555 25,674 139.8% 118,760 76,203 55.8% Financial Expenses -146,051 -201,207 -27.4% -304,006 -330,826 -8.1% Result Before Income Taxes 170,621 229,982 -25.8% 437,352 359,347 21.7% Income Tax and Social Contribution on Profit -35,533 -20,854 70.4% -64,653 -42,771 51.2% Profit/Loss for the Period 135,088 209,128 -35.4% 372,698 316,577 17.7% Attributable to Member of the Controlling Shareholder 135,058 209,099 -35.4% 372,644 316,521 17.7% Attributable to Non-Controlling Members 31 29 5.5% 54 56 -2.8% As announced at the time, the financial results for 2Q25 began to reflect the full consolidation of the interests in the Pátio Higienópolis and Pátio Paulista assets—both by Iguatemi and its partner investors—raising the basis for comparison. It is worth noting that partner interests ceased to be included in our results as of 06/30/2025. The movements were duly communicated through the Market Announcements of April 15, August 5, and August 29, 2025.
Page 41
41 APPENDIX Appendix CONSOLIDATED FINANCIAL AND RECONCILIATION STATEMENT OF INCOME FOR THE FISCAL YEAR STATEMENT OF INCOME FOR THE FISCAL YEAR — MANAGERIAL X FINANCIAL RECONCILIATION Financial Income Statement (BRL thousand) 2Q26 2Q25 Change % 06M26 06M25 Change % Gross Revenue 437,182 454,829 -3.9% 848,117 822,670 3.1% Deductions, taxes, and contributions -47,927 -60,847 -21.2% -101,441 -116,570 -13.0% Net Revenue 389,255 393,982 -1.2% 746,676 706,100 5.7% Cost of Goods and/or Services Sold -100,268 -93,975 6.7% -197,092 -168,418 17.0% Gross Result 288,987 300,007 -3.7% 549,584 537,682 2.2% Operating Revenues/Expenses -39,580 101,115 -139.1% 62,076 68,055 -8.8% General & Administrative Expenses -47,404 -43,808 8.2% -94,318 -91,074 3.6% Other Operating Revenues and Expenses 9,113 145,170 -93.7% 158,898 159,851 -0.6% Other Operating Revenues 9,931 412,593 -97.6% 356,862 428,213 -16.7% Other Operating Expenses -818 -267,423 -99.7% -197,964 -268,362 -26.2% Equity Equivalence -1,289 -247 421.9% -2,504 -722 246.8% Result Before Financ. Income and Taxes 249,407 401,122 -37.8% 611,660 605,737 1.0% Financial Result -79,371 -171,503 -53.7% -175,344 -246,950 -29.0% Financial Revenues 77,967 47,976 62.5% 149,939 110,619 35.5% Financial Expenses -157,338 -219,479 -28.3% -325,283 -357,569 -9.0% Result Before Income Taxes 170,036 229,619 -25.9% 436,316 358,787 21.6% Income Tax and Social Contribution on Profit -34,951 -20,496 70.5% -63,623 -42,203 50.8% Profit/Loss for the Period 135,085 209,123 -35.4% 372,693 316,584 17.7% Income Statement – Reconciliation between the financial statement and the management statement (BRL thousand)Financial 2Q26Adjustments Management 2Q26 Financial 06M26 Adjustments Management 06M26 Gross Revenue 437,182 4,212 441,394 848,117 8,031 856,148 Deductions, taxes, and contributions -47,927 -85 -48,012 -101,441 -297 -101,738 Net Revenue 389,255 4,127 393,382 746,676 7,734 754,410 Cost of Goods and/or Services Sold -100,268 5,149 -95,119 -197,092 26,479 -170,613 Gross Result 288,987 9,276 298,263 549,584 34,213 583,797 Operating Revenues/Expenses -39,580 -3,566 -43,146 62,076 -23,275 38,801 General & Administrative Expenses -47,404 -5,300 -52,704 -94,318 -26,791 -121,109 Other Operating Revenues and Expenses 9,113 79 9,192 158,898 173 159,071 Equity Equivalence -1,289 1,655 366 -2,504 3,342 838 Result Before Financ. Income and Taxes 249,407 5,710 255,117 611,660 10,938 622,598 Financial Result -79,371 -5,125 -84,496 -175,344 -9,902 -185,246 Financial Revenues 77,967 -16,412 61,555 149,939 -31,179 118,760 Financial Expenses -157,338 11,287 -146,051 -325,283 21,277 -304,006 Result Before Income Taxes 170,036 585 170,621 436,316 1,036 437,352 Income Tax and Social Contribution on Profit -34,951 -582 -35,533 -63,623 -1,030 -64,653 Profit/Loss for the Period 135,085 3 135,088 372,693 5 372,698 Attributable to Member of the Controlling Shareholder 135,054 4 135,058 372,639 5 372,644 Attributable to Non-Controlling Members 31 0 31 54 0 54 As announced at the time, the financial results for 2Q25 began to reflect the full consolidation of the interests in the Pátio Higienópolis and Pátio Paulista assets—both by Iguatemi and its partner investors—raising the basis for comparison. It is worth noting that partner interests ceased to be included in our results as of 06/30/2025. The movements were duly communicated through the Market Announcements of April 15, August 5, and August 29, 2025.
Page 42
42 APPENDIX Appendix Income Statement - Reconciliation between the financial statement and the management statement Financial 2Q26 Adjustments 1 Management 2Q26 Financial 2Q25 Adjustments Management 2Q25 Gross Revenue 437,182 4,212 441,394 454,829 4,049 458,878 Taxes and discounts -47,927 -85 -48,012 -60,847 -313 -61,160 Net Revenue 389,255 4,127 393,382 393,982 3,736 397,718 Costs -73,097 118 -72,979 -72,428 -127 -72,555 Administrative expenses -35,749 -271 -36,019 -32,344 -15 -32,359 Pre-Operational Expenses -1,704 0 -1,704 -1,088 0 -1,088 Other Revenues (Exp.) Operating 9,113 79 9,192 145,170 140 145,310 Income using the equity equivalence -1,289 1,655 366 -247 658 411 EBITDA 286,529 5,708 292,237 433,045 4,391 437,436 Depreciation and amortization -37,122 2 -37,120 -31,923 2 -31,921 EBIT 249,407 5,710 255,117 401,122 4,393 405,515 Financial Revenues 77,967 -16,412 61,555 47,976 -22,302 25,674 Financial Expenses -157,338 11,287 -146,051 -219,479 8,332 -211,147 Income Tax & Social Contribution on Net Profit (CSLL) -34,951 -582 -35,533 -20,496 -358 -20,854 Minority interest -31 0 -31 -29 0 -29 Net profit 135,054 4 135,058 209,094 5 209,099 STATEMENT OF INCOME FOR THE FISCAL YEAR – RECONCILIATION OF MANAGEMENT EBITDA VS. FINANCIAL EBITDA Income Statement - Reconciliation between the financial statement and the management statement Financial 2Q26 Adjustments 1 Management 2Q26 Financial 2Q25 Adjustments 1 Management 2Q25 Net profit 135,085 3 135,088 209,123 5 209,128 (+) Income tax / Social contribution 34,951 582 35,533 20,496 358 20,854 (+) Net Financial Expenses 79,371 5,125 84,496 171,503 4,030 175,533 EBIT (LAJIR) 249,407 5,710 255,117 401,122 4,393 405,515 (+) Depreciation and Amortization 37,122 -2 37,120 31,923 -2 31,921 EBITDA 286,529 5,708 292,237 433,045 4,391 437,436 (+) Straight-line effect 2 -1,672 0 -1,672 7,961 0 7,961 Adjusted EBITDA 284,857 5,708 290,565 441,006 4,391 445,398 Adjusted EBITDA - Shopping Malls 276,763 5,708 282,471 438,520 4,391 442,912 Adjusted EBITDA - Retail 8,093 0 8,093 2,486 0 2,486 STATEMENT OF INCOME FOR THE FISCAL YEAR – RECONCILIATION OF ADJUSTED AND SEGMENT- BASED EBITDA (1) Indirect participation in Shopping Iguatemi Porto Alegre Mall and attached tower (Iguatemi Business).
Page 43
43 APPENDIX Appendix Income Statement - Reconciliation between the financial statement and the management statement Financial 06M26 Adjustments 1 Management 06M26 Financial 06M25 Adjustments 1 Management 06M25 Gross Revenue 848,117 8,031 856,148 822,670 7,649 830,319 Taxes and discounts -101,441 -297 -101,738 -116,570 -607 -117,177 Net Revenue 746,676 7,734 754,410 706,100 7,043 713,143 Costs -144,038 437 -143,601 -133,262 -333 -133,595 Administrative expenses -72,222 -750 -72,972 -68,144 -147 -68,291 Pre-Operational Expenses -2,786 0 -2,786 -1,543 0 -1,543 Other Revenues (Exp.) Operating 158,898 173 159,071 159,851 144 159,995 Income using the equity equivalence -2,504 3,342 838 -722 1,526 804 EBITDA 684,024 10,937 694,961 662,280 8,233 670,513 Depreciation and amortization -72,364 1 -72,363 -56,543 1 -56,542 EBIT 611,660 10,938 622,598 605,737 8,234 613,971 Financial Revenues 149,939 -31,179 118,760 110,619 -47,306 63,313 Financial Expenses -325,283 21,277 -304,006 -357,569 26,743 -330,826 Income Tax & Social Contribution on Net Profit (CSLL) -63,623 -1,030 -64,653 -42,203 -568 -42,771 Minority interest -54 0 -54 -56 0 -56 Net profit 372,639 5 372,644 316,528 6 316,522 STATEMENT OF INCOME FOR THE FISCAL YEAR – RECONCILIATION OF MANAGEMENT EBITDA VS. FINANCIAL EBITDA Income Statement - Reconciliation between the financial statement and the management statement Financial 06M26 Adjustments 1 Management 06M26 Financial 06M25 Adjustments 1 Management 06M25 Net profit 372,693 6 372,699 316,584 -7 316,577 (+) Income tax / Social contribution 63,623 1,030 64,653 42,203 568 42,771 (+) Net Financial Expenses 175,344 9,902 185,246 246,950 7,673 254,623 EBIT (LAJIR) 611,660 10,938 622,598 605,737 8,234 613,971 (+) Depreciation and Amortization 72,364 -1 72,363 56,543 -1 56,542 EBITDA 684,024 10,937 694,961 662,280 8,233 670,513 (+) Straight-line effect 2 822 0 822 19,118 0 19,118 Adjusted EBITDA 684,846 10,937 695,783 681,398 8,233 689,631 Adjusted EBITDA - Shopping Malls 671,953 10,937 682,890 678,383 8,233 686,616 Adjusted EBITDA - Retail 12,893 0 12,893 3,015 0 3,015 STATEMENT OF INCOME FOR THE FISCAL YEAR – RECONCILIATION OF ADJUSTED AND SEGMENT- BASED EBITDA (1) Indirect participation in Shopping Iguatemi Porto Alegre Mall and attached tower (Iguatemi Business).
Page 44
44 APPENDIX Appendix Assets (BRL thousand) 06/30/2026 03/31/2026 Change % Current assets 2,869,551 2,561,984 12.0% Cash and Cash Equivalents 2,298,069 2,033,267 13.0% Trade receivables 441,674 435,503 1.4% Inventories 46,551 40,782 14.1% Recoverable taxes 56,084 20,903 168.3% Prepaid Expenses 16,871 22,053 -23.5% Other current assets 10,302 9,476 8.7% Non-current assets 7,196,483 7,115,192 1.1% Long-term assets 477,516 581,845 -17.9% Financial investments 0 0 n/a Trade receivables 330,916 413,622 -20.0% Deferred taxes 17,864 36,906 -51.6% Credits with Related Parties 8,894 12,693 -29.9% Other non-current assets 119,842 118,624 1.0% Investments 6,548,319 6,374,799 2.7% Equity interests 270,574 269,432 0.4% Investment Properties 6,277,745 6,105,367 2.8% Property, plant, and equipment 73,392 59,111 24.2% Intangible assets 97,256 99,437 -2.2% Total Assets 10,066,034 9,677,176 4.0% FINANCIAL CONSOLIDATED BALANCE SHEET Liabilities (BRL thousand) 06/30/2026 03/31/2026 Change % Current Liabilities 1,049,718 907,354 15.7% Social and labor obligations 36,719 28,703 27.9% Suppliers 45,090 54,520 -17.3% Tax obligations 36,526 55,454 -34.1% Loans and financing 153,786 175,972 -12.6% Bonds 344,688 209,616 64.4% Other Obligations 405,194 355.502 14.0% Profits and revenues to be appropriated 27,715 27,587 0.5% Non-current liabilities 4,078,960 3,899,886 4.6% Loans and financing 3,322,504 2,822,746 17.7% Bonds 615,688 733,392 -16.0% Liabilities owed to related parties 0 0 n/a Others 43,571 246,243 -82.3% Deferred taxes 15,341 11,289 35.9% Provisions 33,049 33,152 -0.3% Profits and revenues to be appropriated 48,807 53,064 -8.0% Net worth 4,937,356 4,869,936 1.4% Paid-In Share Capital 1,759,393 1,759,393 0.0% Capital reserves 1,328,714 1,334,681 -0.4% Profit Reserves 1,476,392 1,538,061 -4.0% Accumulated Profit/Loss 372,639 237,585 56.8% Non-Controlling Shareholders' Interest 218 216 0.9% Total Liabilities 10,066,034 9,677,176 4.0%
Page 45
45 APPENDIX Appendix Consolidated (BRL thousand) 06/30/2026 03/31/2026 Net Cash - Operating Activities 50,771 166,791 Cash from operations 288,179 189,972 Net profit for the year 135,085 237,608 Depreciation and amortization 37,122 35,242 Gain or Loss on disposal of Permanent Assets 55 -188.762 Income using the equity equivalence 1,289 1,215 Monetary variations, net 75,987 78,474 Provisions for tax, labor, and civil risks -103 15,352 Deferred income tax and social contribution 13,671 -9,316 Provision for share-based payments 4,555 4,556 Provision for bonus program 12,977 3,434 Provision for doubtful accounts 2,775 6,472 Loss (gain) in interest 0 0 Deferred Revenues 0 0 Amortization of enrollment costs 2,460 2,461 Non-Controlling Shareholders' Interest 0 0 Provision for inventory devaluation 0 0 Straight-line effect of COVID-19 discounts 2,306 3,236 Changes in assets and liabilities -64,397 144,491 Others -173,011 -167,672 Net Cash - Investing Activities -286,573 -92,634 Financial investments -196,755 -53,421 Acquisitions of non-current assets -198,551 -106,933 Sale of Fixed Assets 111,606 68,700 Others -2,873 -980 Net Cash - Financing Activities 244,987 -100,375 Amortization of financings -40,228 -25,034 Dividends Paid -49,935 -49,935 Loan enrollment 535,000 0 Proceeds from Bond Issuance 0 0 Proceeds from Share Issuance 0 0 Others -199,850 -25,406 Increase (Decrease) in Cash and Cash Equivalents 9,185 -26.218 Initial balance of Cash and Cash Equivalents 9,795 36,013 Closing balance of Cash and Cash Equivalents 18,980 9,795 CASH FLOW STATEMENT 1- In 4Q25, a reclassification was carried out to better present the net investment for the period. Therefore, sales of interest to Funcef and RBR were included in the Non-Current Asset Acquisitions line item, providing greater clarity in the financial statements from an annual perspective.
Page 46
46 APPENDIX Appendix Consolidated (adjusted) 06/30/2026 03/31/2026 Net Cash - Operating Activities 246,774 366,094 Cash from operations 347,041 250,511 Net profit for the year 135,085 237,608 Depreciation and amortization 37,122 35,242 Gain or Loss on disposal of Permanent Assets 55 -188.762 Income using the equity equivalence 1,289 1,215 Monetary variations, net 134,849 139,013 Provisions for tax, labor, and civil risks -103 15,352 Deferred income tax and social contribution 13,671 -9,316 Provision for share-based payments 4,555 4,556 Provision for bonus program 12,977 3,434 Provision for doubtful accounts 2,775 6,472 Loss (gain) in interest 0 0 Adjustment to fair value 0 0 Amortization of enrollment costs 2,460 2,461 Non-Controlling Shareholders' Interest 0 0 Provision for inventory devaluation 0 0 Straight-line effect of COVID-19 discounts 2,306 3,236 Changes in assets and liabilities -64,397 144,491 Others -35,870 -28.908 Net Cash - Investing Activities -89,818 152,458 Financial investments 0 191,671 Acquisitions of non-current assets -198,551 -106,933 Sale of Fixed Assets 111,606 68,700 Others -2,873 -980 Net Cash - Financing Activities 107,846 -239,139 Amortization of financings -40,228 -25,034 Dividends Paid -49,935 -49,935 Loan enrollment 535,000 0 Proceeds from Bond Issuance 0 0 Proceeds from Share Issuance 0 0 Payment of interest -137,141 -138,764 Others -199,850 -25,406 Increase (Decrease) in Cash and Cash Equivalents 264,802 279,413 Initial Balance of Cash, Cash Equivalents, and Financial Investments 2,033,267 1,753,854 Closing Balance of Cash, Cash Equivalents, and Financial Investments 2,298,069 2,033,267 ADJUSTED CASH FLOW STATEMENT Operating Cash adjusted to negative BRL 196.0 million relating to interest payments and net monetary variations. Investment Cash adjusted to negative BRL 196.8 million classified as "Financial Investments." Financing Cash adjusted to BRL 137.1 million in "Others."
Page 47
47 GLOSSARY Praia de Belas Shopping Mall GLA: Gross Leasable Area. Own GLA: Total GLA x Iguatemi's interest in each Mall. Average Owned GLA: Arithmetic mean of the owned GLA for each period. To avoid distortions, in the months in which acquisitions took place, we weighted the average over the number of current days that each acquisition contributed revenue to the Company. Total GLA: GLA which corresponds to the sum of all areas available for lease, except for kiosks, in the Malls in which Iguatemi holds an interest. Average Total GLA: Arithmetic mean of total GLA in a period. Rental per m²: Minimum rental, overage, and temporary lease divided by total GLA. Capex: Amounts allocated for improvements to ventures, real estate development, development of new shopping malls, expansions, IT projects, and equipment, and other investments. Occupancy cost as a percentage of sales: Total rental (minimum + overage) + condominium costs + promotional fund divided by total sales. Reported in the "cash" vision. EBITDA: Non-accounting measurement prepared by Iguatemi's management, calculated in accordance with the provisions of CVM Circular Letter No. 156/2022, consisting of operating profit plus net financial result and depreciation and amortization. FFO: Net profit+ Depreciationand Amortization. NOI Margin: NOI of the ventures over Net Revenue of discounts of the venture NAV (Net Asset Value): Fair value of the Company's investment portfolio. NOI: Net operating income from ventures consolidated in the Iguatemi interest. Occupancy rate: Total leased and occupied GLA divided by Total GLA. Total Shopping Malls: Number of malls in which Iguatemi holds an interest. Total Sales: Total sales reported by stores in each of the malls in which Iguatemi holds an interest. Total Sales per m²: Total sales divided by total malls GLA. Shopping Mall View: Management numbers include only malls, therefore excluding towers, Outlets, and Power Center Iguatemi Campinas. Retail Vision: Management numbers include Iguatemi 365 and i-Retail operations. Pro forma vision: A management presentation that adjusts the comparative periods to reflect the Company's current portfolio composition, allowing for a more comparable analysis of operational performance. Glossary