Slides
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P R E S E N T A T I O N EARNINGS November 4th, 2026 3Q26 1
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Statements contained in this release regarding the Company's business outlook, projections of operating / financial profit and loss, the Company's growth potential, and related to market and macroeconomic estimates constitute mere forecasts and were based on the beliefs, intentions, and expectations of the Management regarding the future of the Company. These estimates are highly dependent on changes in the market, the general economic performance of Brazil, the industry, and international markets and, therefore, are subject to change. DISCLAIMER
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Alexandre Santoro CEO HIGHLIGHTS 3Q26
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4 GPA Priorities Addressing Legacy Issues and Optimizing Operations 2026 Efficiency Plan Expense, headcount and CAPEX Reduction Discontinuation of Less Profitable Channels End of the Aliados Format, E-commerce Rebalancing, and Sale of Stix Logistics and IT Optimization Through 2028 Structured Logistics Transformation and Value Creation Plan IT Infrastructure Restructuring Operational Simplification and Improvement Assortment optimization and store complexity reduction Operating Margin Improvement Margins Evolution, proximity with suppliers, Commercial team Same Store Sales Growth More Effective Category Management, Perishables and Assortment Optimization Refinement of Extra Mercado's Value Proposition Conversion and Modernization of Stores Regionalization Greater Autonomy for Regional Management (São Paulo and Other Regions) Negotiations and Sourcing from Local Suppliers Approval of Restructuring Plan Tax Liabilities Labor Liabilities Contract Renegotiations Arbitration Proceedings Structural Liabilities Sales and Cash GenerationSimplification and Efficiency Gains
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3Q26 Financial Impacts Affected Claims(1) Net Debt(1)(2) Leverage(3) R$ 4.8 bn 3.7x R$ 3.8 bn Consolidated Net Income(4) -R$ 0.7 bn R$ 2.0 bn R$ 1.2 bn 1.2x R$ 1.2 bn R$ 0.1 bn Court Approval of the Extrajudicial Reorganization Plan 5 Δ -R$ 1.6 bn -2.5x - R$ 2.5 bn +R$ 0.9 bn (1) Pro forma analysis, considering the terms of the extrajudicial reorganization plan and the partial debt repayment using the R$ 293 million proceeds from the sale of FIC; (2) Considers only the remaining cash debt; (3) Net Debt including the non-discounted credit card receivables portfolio / Adjusted EBITDA pre IFRS 16 (LTM); (4) Haircut effect, net of income tax and social contribution. Nov/26 • New financing (R$ 200 million) Dec/26 • Issuance of new securities related to Affected Claims • Recognition of accounting effects Next Steps Cash Convertible Shareholders’ Equity -R$ 0.3 bn R$ 0.6 bn +R$ 0.9 bn Reported Pro Forma Average Maturity 2.1 years 6.4 years +4.3 years
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Quarterly Performance Prioritizing Profitability Gross Revenue 6 R$ 4.6 billion (-6.5% vs. 3Q25) Total Stores 3Q26 -0.2% Callendar and portolio effect -4.9% Profitability Initiatives SSS 3Q26 -6.5% -1.4% Gross Profit (R$ million) 27.6% 3Q25 27.7% 4Q25 30.4% 1Q26 30.5% 2Q26 30.7% 3Q26 1,259 1,415 1,332 1,288 1,264 +0.4% (+R$5) Gross Margin Gross Profit R$ 1.3 billion (+0.4% vs. 3Q25) Adjusted EBITDA (R$ million) R$ 482 million (+16.9% vs. 3Q25) 412 510 458 450 482 9.1% 3Q25 10.0% 4Q25 10.5% 1Q26 10.6% 2Q26 11.7% 3Q26 +16.9% (+R$70) EBITDA Margin EBITDA post IFRS16
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FINANCIAL PERFORMANCE Pedro Albuquerque CFO
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Strategic Initiatives 2026 Efficiency Plan 8 Financial Discipline • R$ 365 million in expense reductions, 88% of the 2026 guidance • R$ 226 million in capex deployed, 65% of the 2026 guidance • IT architecture restructuring • Two-thirds reduction in spending by 2028 • Expected 2026 savings: R$ 67 million • 20% reduction in administrative HC in 2026 • Launch of GPA’s in-house insurance brokerage to reduce premium costs Expense Reduction (R$ million) Capex (R$ million) 2Q26 4,521 4,156 9M263Q26 1,508 1,408 1,535 1,390 1,478 1,358 1Q26 -99 -145 -121 -365 Baseline 2026 Reported 632 226 300 2025 9M26 50 Guidance 2026 350 -64,2% Reported Upper Limit Lower End
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9 Judicial Guarantees 3Q24 3Q25 2Q26 3Q26 Oct/26 13.534 13.499 11.900 13.500 12.532 -968 -1.600 Outstanding balance (R$ million) Releases and outlook • Releases from Jul/26 to Oct/26: • R$ 1.6 billion released (estimated annual saving of R$ 18 million) • 2027 outlook: • R$ 2.5 billion related to Acordo Paulista (São Paulo State Tax settlement program, estimated annual saving of R$ 25 million) Total: R$ 11.900 Tributário Remanescente: R$ 4.681 Transação Federal: R$ 2.726 (Economia anual estimada R$ xx milhões) Acordo Paulista: R$ 2.461 Trabalhista: R$ 1.466 Cível e Outros: R$ 565
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Quarterly Performance Prioritizing Profitability Gross Profit (R$ million) 10 R$ 1.3 billion (+0.4% vs. 3Q25) Adjusted EBITDA (R$ million) R$ 482 million (+16.9% vs. 3Q25) 27.6% 3Q25 27.7% 4Q25 30.4% 1Q26 30.5% 2Q26 30.7% 3Q26 1,415 1,259 1,332 1,288 1,264 +0.4% (+R$5) Gross Margin Gross Profit 412 510 458 450 482 9.1% 3Q25 10.0% 4Q25 10.5% 1Q26 10.6% 2Q26 11.7% 3Q26 +2.7 p.p. +16,9% (+R$70) EBITDA Margin EBITDA post IFRS16 SG&A (R$ million) R$ (821) million (-7.8% vs. 3Q25) 890 938 917 883 821 19.5% 3Q25 18.3% 4Q25 21.0% 1Q26 20.9% 2Q26 19.9% 3Q26 -7.8% (-R$69) % Net Revenue SG&A
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Quarterly Performance 3Q26 Adjusted Net Results Continued (R$ million) 11 Consolidated (R$ million) 142 (276) (220) Net Loss 3Q25 (418) Tax Loss Credits Adjusted Net Loss 3Q25 Net Loss 3Q26 -20.3% 134 (392) (731) (264) Net Loss 3Q25 (526) Tax Credits Adjusted Net Loss 3Q25 Net Loss 3Q26 467 Provision Adjusted Net Loss 3Q26 -32,8%
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9M26 Performance Prioritizing Profitability Gross Profit (R$ million) 12 R$ 3.9 billion (+0.8% vs. 9M25) Adjusted EBITDA (R$ million) R$ 1.4 billion (+12.0% vs. 9M25) 27.5% 9M25 30.5% 9M26 3,853 3,883 +30 (+0,8%) Gross Margin Gross Profit 8.9% 9M25 10.9% 9M26 1,240 1,389 +149 (+12,0%) +2.1 p.p. EBITDA Margin EBITDA post IFRS16 SG&A (R$ million) R$ (2,620) million (-4.6% vs. 9M25) 19.6% 9M25 20.6% 9M26 2,746 2,620 -126 (-4,6%) % Net Revenue SG&A Cont. Net Results (R$ million) 723 -756-850 9M25 9M26 -128 -1,770 -1,014 -11.1% Recurring Non-Recurring Recurring R$ (759) million (-10.8% vs. 9M25)
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Quarterly Performance Managerial Cash Flow Net Debt Variation (12 months – R$ million) 13 Working Capital Operating FC R$ 683 million 2.940 3.784 1.263 944 506 244 341 418 911 2.522 Net Debt 3Q25 Adjusted EBITDA Pre IFRS16 (1) Var. working capital goods Var. working capital non- goods(2) Adjusted Capex (3) 142 Asset Sales and Dividends (4) Other Operating Income and Expenses Net Financial Cost (5) Net Debt 3Q26 Pecuniary Debt Reduction Pro Forma Net Debt after ER +845 59 74 52 44 49 44 46 47 46 48 6 7 6 4 3 3Q25 4Q25 1Q26 2Q26 3Q26 -11 days 5 days Suppliers Inventory Receivables (1) Considers Adjusted EBITDA adjusted for Other Operating Income and Expenses, equity income, and rental costs and expenses; (2) Includes the impact of Stix deconsolidation (R$ 252 million); (3) Adjusted for BTS financing; (4) Includes proceeds from sale of non-core and non-strategic assets; (5) Includes interest on gross debt, cash yield, bank guarantees fees and receivables Discount costs.
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14 Q&A w w w. g p a r i . c o m . b r
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Ready for 4Q26 15 New Extra Mercado Positioning Black Friday Year-end Seasonality Value Proposition Price, quality and convenience for everyday shopping • Competitive pricing • Full assortment • Convenient store locations • Trusted customer relationships Black Friday Second most important month for sales • Warm-up promotions throughout the month • Deals in key categories • Omnichannel approach • Two-day Black Friday event Most important period of the year December is the peak sales month • Early negotiation with suppliers and inventory build-up • Tailored and diverse assortment