Earnings release
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RIACHUELO 2Q26 Results Earnings Conference Call August 06 , 2026 2:00 p.m. ( Brasília ) , 1:00 p.m. ( New York ) Conference call held in Portuguese , with simultaneous translation into English . To join the call , click here .
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2 Results | 2Q26 Sales growth and margin expansion support another quarter of record EBITDA and net income In 2Q26, Riachuelo maintained a consistent performance trajectory, reflecting the strength of its strategy and disciplined operational execution. The Retail segment combined sales growth with a strong expansion in profitability. Apparel SSS grew 7.8%, marking the 12th co nsecutive quarter of growth. Apparel gross margin reached 59.2%, up 1.9 p.p. from 2Q25 and the 11th consecutive quarter of gross margin expansion. Retail EBITDA totaled R$342 million, the highest ever for a second quarter, up 14.7% year on year, with EBITDA margin reaching 17.0%, up 1.8 p.p. and the highest level for the period in the last 11 years. In Financial Services, we maintained disciplined lending and a continued focus on portfolio quality. The segment posted consi stent revenue growth and reported EBITDA of R$119 million in the quarter, up 7.2% from 2Q25. On a consolidated basis, we delivered record results for a second quarter. EBITDA totaled R$461 million, with EBITDA margin r eaching 17.1%, up 1.4 p.p. year on year. Net income reached R$168 million, up 36.2% from 2Q25 and the highest historical level for the period. Strengthening our store footprint remains an important avenue for growth and profitability. We continued to advance our store renovation plan under the Incrivelmente Brasil concept and now have three stores offering customers the experience of this new format, where products take center stage and the brand gains new spaces to express its identity and stories. In the second half of 2026, we will continue to advance t his agenda, focusing on new store openings and ongoing store revitalizations. We remain confident in our trajectory, supported by an integrated value chain, brand strength, and operational efficiency. Riachuelo is well positioned to capture new opportunities by combining creativity, technology, and excellence to drive growth and create sustainable value. Note: Consolidated 2Q25 data excludes Midway Mall numbers . Highlights
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3 Results | 2Q26 2Q26 INDICATORS To facilitate comparison between periods, 2Q25 data excludes the results of Midway Mall, divested by the Company in December 2025. ¹ For 1H25, Adjusted EBITDA was considered. 2Considers the tax drag on all financial products . Operational Performance (R$ '000) 2Q26 2Q25 26 vs 25 1H26 1H25 26 vs 25 Consolidated net revenue 2,691,703 2,604,866 3.3% 5,013,675 4,781,199 4.9% Operating expenses (953,609) (925,766) 3.0% (1,870,355) (1,781,924) 5.0% % consolidated net revenue 35.4% 35.5% -0.1 p.p. 37.3% 37.3% 0.0 p.p. Consolidated EBITDA¹ 460,587 408,811 12.7% 728,355 643,465 13.2% EBITDA margin¹ 17.1% 15.7% 1.4 p.p. 14.5% 13.5% 1.0 p.p. Net Income 167,921 123,283 36.2% 172,958 77,387 123.5% Net margin 6.2% 4.7% 1.5 p.p. 3.4% 1.6% 1.8 p.p. Retail (R$ '000) 2Q26 2Q25 26 vs 25 1H26 1H25 26 vs 25 Appa rel SSS 7.8% 15.8% n.a. 8.8% 14.5% n.a. Retail Net Revenue 2,007,524 1,962,476 2.3% 3,669,878 3,521,582 4.2% Apperal Net Revenue 1,748,911 1,605,871 8.9% 3,144,526 2,871,766 9.5% Apparel gross margin 59.2% 57.3% 1.9 p.p. 57.3% 55.7% 1.6 p.p. EBITDA for Retail¹ 342,026 298,226 14.7% 476,663 407,078 17.1% EBITDA Margin for Retail¹ 17.0% 15.2% 1.8 p.p. 13.0% 11.6% 1.4 p.p. Financial Services (R$ '000) 2Q26 2Q25 26 vs 25 1H26 1H25 26 vs 25 Net Financial Services Revenue 684,179 642,390 6.5% 1,343,797 1,259,617 6.7% Financial Services EBITDA 118,561 110,585 7.2% 251,692 236,387 6.5% Net Revenue on Portfolio (up to 360 days) 11.0% 11.4% -0.4 p.p. 21.7% 22.4% -0.7 p.p. Delinquency Rate - 15 to 90 days 2 (portfolio up to 360 days) 6.9% 7.5% -0.6 p.p. 6.9% 7.5% -0.6 p.p. Delinquency Rate over 90 days 2 (portfolio up to 360 days) 18.9% 17.4% 1.5 p.p. 18.9% 17.4% 1.5 p.p.
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4 Results | 2Q26 OUR FASHION IS LEGACY: We won the EXAME Best of ESG Award Riachuelo won 1st place in the EXAME Best of ESG Award in the Fashion and Apparel category. We are very proud to be the largest employer in Brazilian fashion and to have the largest textile manufacturing complex in Latin America. Our commitment to building a Brazilian fashion industry that creates opportunities and fosters sustainable human development is what drives us every day. EXAME’s recognition shows that the strength of a legacy built over the past eight decades of dedication to Brazilian fashion remains more alive than ever. OUR FASHION IS CIRCULAR: Pool Loop continues to foster innovation for circularity In April, Pool Loop introduced, for the first time, two innovative fibers that are key to advancing fashion decarbonization: LENZING™ ECOVERO™ REFIBRA™ viscose, with 20% cellulose pulp from pre - and post-consumer recycled cotton, and Creora’s Regen ™BIO Max bio -based elastane, made with 98% sugarcane. Together, they reduce emissions and water consumption by at least 50% compared to their conventional versions. In addition, we continued to make progress in circular cotton, with more than 24,000 denim pieces produced using 100% cotton and 25% recycled fibers from our value chain. Another unprecedented initiative in the market was the upcycling capsule collection launched in partnership with fashion designer Marcelo Sommer, one of the pioneers of the technique in Brazil. The collection, developed with the purpose of transforming leftovers from our industry into desirable pieces, proves that, with willingness and creativity, it is possible to monetize idle inventory. The challenge now is to scale a production technique based on the logic of creating from already existing resources. The new drop is scheduled for September 2026. OUR FASHION IS IMPACT: We celebrated the 5th anniversary of the Riachuelo Institute Since its creation, the Institute has invested more than R$11 million in strengthening the fashion value chain through region al development in Rio Grande do Norte. In May 2026, the Institute celebrated its fifth anniversary at Teatro Riachuelo in Natal (RN), highlighting the positive impact generated by its projects focused on training in sewing, cotton farming, embroidery, and oth er handcraft techniques. All funds invested by the Institute in projects come from its bazaars, where Riachuelo items are recirculated. In 2Q26, the I nstitute recorded a sales record, raising more than R$2.2 million, up 26% from 2Q25. Agro-Sertão, a project that fosters the revival of cotton production in the state through agroecology, once again reached Riachuelo stores in 2Q26, with more than 50,000 knitwear pieces made from agroecological cotton yarn, benefiting approximately 100 farmers across 16 municipalities. OUR BRAZIL IS A POWERHOUSE: Mãos da Moda project drives Brazilian designer fashion In partnership with Nordestesse, Riachuelo developed the Mãos da Moda project, an initiative aimed at valuing Brazilian fashion and strengthening Brazilian talent through mentoring and training. The first edition of the project included the states of Bahia and Paraíba, with an investment of R$1.2 million through sta te incentive laws. Designer brands joined forces with artisan groups, bringing a contemporary perspective to manual techniques such as embroidery, crochet, and lace. As a result of this work, the creations developed by the eight participating brands and groups were featured on the runway at Dragão Fashion Brasil, the largest fashion week in Northeast Brazil, held in Fortaleza (CE) during 2Q26.
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5 Results | 2Q26 Retail Performance
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6 Results | 2Q26 RETAIL PERFORMANCE Apparel SSS grew 7.8% in 2Q26, underscoring the strength of our value proposition Below is the performance of the Retail segment from a store network perspective, which includes: (i) Riachuelo: proprietary brands, Carter’s products, and Casa Riachuelo products sold in Riachuelo stores, as well as the digita l channel; (ii) Casa Riachuelo and Carter’s: products sold in their respective physical stores, including Store-in-Store (SIS) units. Apparel data does not include the performance of home products, watches, electronics, and fragrances. In 2Q26, net revenue from Apparel totaled R$1.7 billion, up 8.9% from 2Q25. On a same -store sales basis, Apparel (SSS) grew 7.8%, marking the 12th consecutive quarter of growth. This performance reflects the consistency of the Company’s strategic executio n, focusing on fashion, products, trends, and customer experience. Despite the later onset of winter and the impact of the World Cup on customer traffic in stores , we maintained consistent commercial performance and continued to strengthen our value proposition. During the period, highlights included the Mother’s Day collections featuring Silvia and Bebela Braz , as well as the A. Niemeyer + Riachuelo and PIET + POOL collaborations, which expanded Riachuelo’s connection with different styles, wearing occasions, and consumer profiles. (R$ '000) 2Q26 2Q25 26 vs 25 1H26 1H25 26 vs 25 Sales Performance Retail Net Revenue 2,007,524 1,962,476 2.3% 3,669,878 3,521,582 4.2% Riachuelo 1,895,362 1,857,414 2.0% 3,450,659 3,329,222 3.6% Casa Riachuelo 35,304 29,688 18.9% 70,852 58,111 21.9% CARTER'S 76,857 75,374 2.0% 148,367 134,249 10.5% SSS 1.1% 12.9% n.a. 3.0% 11.9% n.a. Apparel Net Revenue 1,748,911 1,605,871 8.9% 3,144,526 2,871,766 9.5% Apparel SSS 7.8% 15.8% n.a. 8.8% 14.5% n.a. Operating Data Number of stores 444 436 1.8% 444 436 1.8% Sales area in thousand sqm 717 706 1.6% 717 706 1.6% Net revenue per sqm (R$ per sqm) 2,800 2,781 0.7% 5,118 4,991 2.5% Total average ticket (R$) 202 208 -2.9% 195 198 -1.5% Riachuelo card average ticket (R$) 245 257 -4.7% 237 248 -4.4% Apparel SSS de Vestuário
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7 Results | 2Q26 We also continued to outperform the market. For the 13th consecutive quarter , we gained market share , with sales outperforming the Apparel PMC (IBGE) through May 2026. The change in average ticket compared to 2Q25 once again reflected the lower share of the electronics category in the sales mix, in line with the Company’s strategy to focus its efforts on Apparel. In 1H26, net revenue from Apparel totaled R$3.1 billion, up 9.5% from 1H25, while Apparel SSS grew 8.8%. GROSS PROFIT: 11 consecutive quarters of gross margin expansion Apparel gross profit totaled R$1.0 billion in 2Q26, up 12.5% from 2Q25. Apparel gross margin maintained its upward trend, rea ching 59.2%, an expansion of 1.9 p.p. year on year and marking the 11th consecutive quarter of growth. This performance, which represents the highest level ever recorded for a second quarter, was driven by manufacturing efficiency gains, lower markdowns, advances in pricing processes, and a better product mix, with a higher share of winter products. In the same period, Retail gross profit totaled R$1.1 billion, up 8.3% from 2Q25. Retail gross margin reached 56.6% in the qu arter, up 3.2 p.p. from the same period of the previous year, mainly reflecting the evolution of the sales mix and the lower share of electronics. In 1H26, Apparel gross profit reached R$1.8 billion, up 12.6% from 1H25. Apparel gross margin reached 57.3% in the first six months of 2026, an expansion of 1.6 p.p. year on year. (R$ '000) 2Q26 2Q25 26 vs 25 1H26 1H25 26 vs 25 Retail Gross Profit 1,136,156 1,048,652 8.3% 2,002,130 1,836,402 9.0% Retail Gross Riachuelo 1,073,700 992,409 8.2% 1,883,646 1,736,786 8.5% Retail Gross Casa 19,841 15,866 25.1% 38,843 30,738 26.4% Retail Gross Carters 42,615 40,377 5.5% 79,642 68,879 15.6% Retail Gross Margin 56.6% 53.4% 3.2 p.p. 54.6% 52.1% 2.5 p.p. Riachuelo 56.6% 53.4% 3.2 p.p. 54.6% 52.2% 2.4 p.p. Casa Riachuelo 56.2% 53.4% 2.8 p.p. 54.8% 52.9% 1.9 p.p. CARTER'S 55.4% 53.6% 1.8 p.p. 53.7% 51.3% 2.4 p.p. Apparel Gross Profit 1,035,048 920,164 12.5% 1,801,550 1,599,584 12.6% Apparel Gross Margin 59.2% 57.3% 1.9 p.p. 57.3% 55.7% 1.6 p.p. Apparel Gross Margin
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8 Results | 2Q26 EBITDA: another record quarter, with the highest EBITDA margin in the last 11 years (*) Refers to non-recurring revenues and/or expenses, such as asset write -offs and special projects. The Retail segment posted record EBITDA for the period of R$342.0 million in 2Q26, up 14.7% from 2Q25. EBITDA margin reached 17.0%, an expansion of 1.8 p.p. year on year and also the highest level for a second quarter in the last 11 years. This result reflects the combination of consistent sales growth and Retail gross margin expansion. The digital channel continued to grow at an accelerated pace, with gains in scale and profitability, supported by an operatio nal model based on proprietary technology, data, and artificial intelligence, consolidating itself as a structural component of t he Company’s growth strategy. In 1H26, Retail EBITDA totaled R$476.7 million, up 17.1% from the R$407.1 million recorded in the first six months of 2025. Retail EBITDA margin reached 13.0%, compared to 11.6% in 1H25. (R$ '000) 2Q26 2Q25 26 vs 25 1H26 1H25 26 vs 25 Net revenue 2,007,524 1,962,476 2.3% 3,669,878 3,521,582 4.2% COGS (871,368) (913,824) -4.6% (1,667,748) (1,685,180) -1.0% Gross profit 1,136,156 1,048,652 8.3% 2,002,130 1,836,402 9.0% Gross margin 56.6% 53.4% 3.2 p.p. 54.6% 52.1% 2.5 p.p. EBITDA 342,026 298,226 14.7% 476,663 397,010 20.1% EBITDA margin 17.0% 15.2% 1.8 p.p. 13.0% 11.3% 1.7 p.p. Other Items* - - n.a. - 10,068 n.a. Adjusted EBITDA 342,026 298,226 14.7% 476,663 407,078 17.1% Adjusted EBITDA margin 17.0% 15.2% 1.8 p.p. 13.0% 11.6% 1.4 p.p. Apparel Gross Margin Evolution
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9 Results | 2Q26 NUMBER OF STORES We ended 2Q26 with 444 stores, including 342 Riachuelo stores, 81 Carter’s stores, 13 Casa Riachuelo stores, and 8 FANLAB sto res. In addition, we have other stores operating under the store -in-store (SIS) mode l, consisting of 14 Casa Riachuelo SIS units and 1 Carter’s SIS unit. FANLAB operations were discontinued in July, in line with the Company’s strategic direction to concentrate efforts on its key growth drivers. For the second half of 2026, our agenda includes the continued expansion of Riachuelo, with new stores under the Incrivelment e Brasil concept. The initiative reinforces our commitment to delivering an increasingly modern and connected customer experience, in which products take center stage and the brand gains new spaces to express its identity and stories. We also continued to advance our store renovation plan and the gradual update of our store network to the new concept. We completed the revitalization of the lower floor of our ParkShoppingBarigüi store in Curitiba, Paraná, marking the first fully renovated store under the new concept. We also completed the first phase of the renovation of the BH Shopping store in Belo Horizonte, Minas Gerais. These initiatives add to the Pinheiros pop-up store in São Paulo, São Paulo, opened in December 2025. * Does not include stores in the store-in-store (SIS) model Number of Stores* Sales Area by Age – 2Q26 EBITDA from Retail
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10 Results | 2Q26 / Financial Services
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11 Results | 2Q26 FINANCIAL SERVICES Portfolio growth with disciplined credit management and delinquency remaining at controlled levels Gross revenue from Financial Services totaled R$726.6 million in 2Q26, up 7.0% from 2Q25, mainly reflecting the strategy of portfolio expansion, with disciplined card issuance and the identification of lending opportunities within our customer base. Provision for doubtful accounts (PDA), net of recoveries and discounts, totaled R$351.7 million in 2Q26, up 7.9% from 2Q25. T his increase was below the 10.1% portfolio expansion in the period, reflecting the strategy of disciplined growth and risk -adjusted profitability. EBITDA from Financial Services totaled R$118.6 million , up 7.2% from 2Q25, reflecting the consistent delivery of results through disciplined lending and the focus on long-term value creation. In 1H26, gross revenue from Financial Services reached R$1.4 billion, up 7.0% from 1H25, while EBITDA from Financial Services totaled R$251.7 million, up 6.5% year on year. (R$ '000) 2Q26 2Q25 26 vs 25 1H26 1H25 26 vs 25 Gross Revenue 726,633 679,100 7.0% 1,425,265 1,331,700 7.0% Revenue from card operations 460,305 459,702 0.1% 920,973 901,847 2.1% Revenue from loans 201,085 167,641 19.9% 378,745 325,287 16.4% Revenue from commissions 65,243 51,757 26.1% 125,548 104,566 20.1% Tax expenses (42,454) (36,711) 15.6% (81,468) (72,084) 13.0% Net Revenue 684,179 642,390 6.5% 1,343,797 1,259,617 6.7% PDA net of recovery and discount (351,699) (326,094) 7.9% (670,223) (619,997) 8.1% Result from financial operation 332,480 316,296 5.1% 673,574 639,620 5.3% Result from financial operation margin 48.6% 49.2% -0.6 p.p. 50.1% 50.8% -0.7 p.p. Operating expenses (213,918) (205,710) 4.0% (421,882) (403,233) 4.6% Revenue from services provided to Riachuelo 15,525 12,200 27.3% 28,070 21,148 32.7% Depreciation and amortization (20,638) (20,589) 0.2% (41,852) (41,197) 1.6% Operating income (32,074) (32,554) -1.5% (51,294) (56,655) -9.5% EBITDA from financial services 118,561 110,585 7.2% 251,692 236,387 6.5% EBITDA from Financial Services
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12 Results | 2Q26 The total credit portfolio with maturities of up to 540 days amounted to R$6.9 billion in June 2026, while the portfolio with maturities of up to 360 days totaled R$6.2 billion, as detailed below: • Riachuelo Card (private label + co -branded): the card portfolio with maturities of up to 360 days totaled R$5.1 billion, increasing 5.5% from 2Q25 , in line with the strategy of gradually expanding credit origination while maintaining portfolio quality. • Loans: the portfolio maturing within 360 days totaled R$1.1 billion, up 39.7% vs. 2Q25 , driven by the expansion of personal loan offerings to the customer base and by the new payroll-deductible loan product, contributing to portfolio growth with risk-adjusted profitability. Credit Portfolio (Cards + Loans) A comparison of the portfolio in accordance with CMN Resolution No. 4,966 will be possible only from 3Q26, which is when the 2025 portfolio will be fully composed of loans up to 540 days. ¹ Considers the tax drag on all financial products . ² The Basel Ratio is calculated in accordance with BCB Resolution No. 229/22 issued by the Central Bank of Brazil. It is an int ernationally standardized indicator, defined by the Basel Committee on Banking Supervision, which establishes a minimum ratio of 1 0 .5%. The delinquency rates presented below consider the portfolio up to 360 days to ensure better comparability across the periods analyzed. In the card portfolio, delinquency remained under control and at healthy levels, below those observed in 2023, with roll rate s in line with expectations. The long -term delinquency indicator reflected the seasonal effect associated with 4Q25 sales, while th e improvement in the short-term bucket reinforced the efficiency of the credit operation. 2Q26 2Q25 2Q26 vs 2Q25 2Q26 2Q26 2Q26 vs 2Q25 Up to 540 days Up to 540 days Up to 540 days Up to 360 days Up to 360 days Up to 360 days Credit Portfolio (R$ MM) 6,864 6,109 12.4% 6,200 5,632 10.1% Card (R$ MM) 5,668 5,261 7.7% 5,138 4,872 5.5% Loan (R$ MM) 1,196 847 41.2% 1,062 760 39.7% % PDA net of recovery and discount 5.1% 5.3% -0.2 p.p. 5.7% 5.8% -0.1 p.p. Delinquency Rate - 15 to 90 days¹ 3.8% 3.9% -0.1 p.p. 6.9% 7.5% -0.6 p.p. Delinquency Rate - over 90 days¹ 28.4% 26.8% 1.6 p.p. 18.9% 17.4% 1.5 p.p. Basel Index² 18.2% 16.6% 1.6 p.p. 18.2% 16.6% 1.6 p.p. Financial Services Key Indicators
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13 Results | 2Q26 In the loans portfolio, delinquency indicators maintained their downward trend, reflecting discipline in origination and risk management. Delinquency Rate PAYMENT TERMS In 2Q26, sales using the Riachuelo Card, including private label and co -branded cards, accounted for 32.9% of in -store transactions, up 1.8 p.p. from the same period of the previous year, reflecting the strengthening of the card’s value proposition. Breakdown in 2Q25 Mostrar mais linhas Breakdown in 2Q26 Mostrar mais linhas
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14 Results | 2Q26 Consolidated Performance
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15 Results | 2Q26 In this section, we present the consolidated results for 2Q25 excluding the results of Midway Mall, which was divested by the Company in December 2025, to ensure better comparability between the periods. NET REVENUE AND GROSS PROFIT: another quarter of growth supported by disciplined execution Consolidated net revenue totaled R$2.7 billion in 2Q26, up 3.3% from 2Q25. In 1H26, consolidated net revenue reached R$5.0 bil lion, up 4.9% from 1H25. The integrated performance across industry, retail, and financial services sustained the Company’s consist ent growth, reinforcing the strength and resilience of our business model. In 2Q26, consolidated gross profit reached R$1.7 billion, up 8.5% from 2Q25. Consolidated gross margin reached 63.3%, up 3.0 p.p. year on year, driven, among other factors, by the 1.9 p.p. expansion in Apparel gross margin. In 1H26, consolidated gross profit totaled R$3.1 billion, up 8.6% from 1H25, with consolidated gross margin reaching 62.3%, u p 2.1 p.p. year on year. OPERATING EXPENSES: expense discipline supports operating leverage Consolidated operating expenses totaled R$953.6 million in 2Q26, up 3.0% from 2Q25. The variation mainly reflected higher sel ling expenses, driven by the intensification of marketing and communication initiatives focused on strengthening the brand, increa sing customer engagement, and supporting the Company’s key growth initiatives. General and administrative expenses mainly reflecte d the reinforcement of the organizational structure required to support business growth. In the quarter, operating expenses represented 35.4% of consolidated net revenue, down 0.1 p.p. year on year, reflecting disciplined expense management and the preservation of operating leverage. In 1H26, this ratio remained stable compared to the same per iod of the previous year. (R$ '000) 2Q26 2Q25 26 vs 25 1H26 1H25 26 vs 25 (+) Net revenue - Retail 2,007,524 1,962,476 2.3% 3,669,878 3,521,582 4.2% (+) Net revenue - Midway Financeira 684,179 642,390 6.5% 1,343,797 1,259,617 6.7% (=) Consolidated net revenue 2,691,703 2,604,866 3.3% 5,013,675 4,781,199 4.9% (+) Gross profit - Retail 1,136,156 1,048,652 8.3% 2,002,130 1,836,402 9.0% (+) Gross profit - Midway Financeira 568,830 522,290 8.9% 1,123,396 1,042,235 7.8% (=) Consolidated gross profit 1,704,986 1,570,942 8.5% 3,125,526 2,878,637 8.6% Consolidated gross margin 63.3% 60.3% 3.0 p.p. 62.3% 60.2% 2.1 p.p. (R$ '000) 2Q26 2Q25 26 vs 25 1H26 1H25 26 vs 25 Operating expenses (953,609) (925,766) 3.0% (1,870,355) (1,781,924) 5.0% Selling expenses (675,720) (651,051) 3.8% (1,335,279) (1,259,867) 6.0% General and administrative expenses (277,889) (274,715) 1.2% (535,076) (522,057) 2.5% % operating expenses/ net revenue 35.4% 35.5% -0.1 p.p. 37.3% 37.3% 0.0 p.p.
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16 Results | 2Q26 Consolidated EBITDA: another record quarter (*)Refers to non-recurring revenues and/or expenses related to asset write -offs. In 2Q26, the Company reported consolidated EBITDA of R$460.6 million, up 12.7% from 2Q25 and the highest level ever recorded for a second quarter. Consolidated EBITDA margin reached 17.1%, an expansion of 1.4 p.p. year on year, reflecting the combination of growth and continued efficiency gains, in line with the Company’s strategic pillars. In 1H26, consolidated EBITDA totaled R$728.4 million, up 1 3.2% from 1H25. Consolidated EBITDA margin reached 14.5% in 1H26, 1. 0 p.p. higher than in the first half of 2025. NET DEBT AND LEVERAGE ¹ Last 12 months on a comparable basis. For better comparability between periods, cash and cash equivalents in 2Q26 are presented on a pro forma basis, excluding the effect of the early payment of interest on equity (JCP) in January 2026 on the Company’s cash position. On this basis, net debt totaled R$943 million, with a leverage ratio of 0.5x as of June 2026, stable compared to June 2025. Considering the pre-IFRS net debt/EBITDA ratio, leverage stood at 0.7x at the end of 2Q26, the same level recorded in June 2025. The volume of discounted receivables in 2Q26 amounted to R$575.0 million. EBITDA Reconciliation (R$ '000) 2Q26 2Q25 26 vs 25 1H26 1H25 26 vs 25 Net income 167,921 123,283 36.2% 172,958 77,387 123.5% (+) Income tax and social contributions provision (12,295) 24,026 n.a. 9,233 101,164 -90.9% (+) Financial result 100,874 80,749 24.9% 144,173 100,911 42.9% (+) Depreciation and amortization 204,087 180,753 12.9% 401,991 353,935 13.6% EBITDA 460,587 408,811 12.7% 728,355 633,397 15.0% EBITDA margin 17.1% 15.7% 1.4 p.p. 14.5% 13.2% 1.3 p.p. Other Items* - - n.a. - 10,068 n.a. Adjusted EBITDA 460,587 408,811 12.7% 728,355 643,465 13.2% Adjusted EBITDA ma rg in 17.1% 15.7% 1.4 p.p. 14.5% 13.5% 1.0 p.p. Net Debt (R$ ‘000) 6/30/2026 6/30/2026 Pro forma 6/30/2025 Cash & Cash Equivalents 1,136,452 1,489,342 1,197,854 Loans and Financing (2,432,173) (2,432,173) (1,972,668) Short Term (672,655) (672,655) (778,953) Long Term (1,759,518) (1,759,518) (1,193,715) Net Debt (1,295,721) (942,831) (774,814) Net Debt/EBITDA¹ 0.8 0.5 0.5 Net Debt/EBITDA pre-IFRS 16¹ 1.0 0.7 0.7
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17 Results | 2Q26 Debt and Leverage FINANCIAL RESULT The Company’s net financial result was an expense of R$100.9 million in 2Q26, up 24.9% year on year. The main variations in t he financial result were: • Financial income: a 3.6% variation in the quarter as a result of a lower average cash balance during the period; • Financial expenses: up 9.2% in 2Q26, mainly reflecting higher interest on loans and debentures, due to higher gross debt in the period , in line with the Company’s liability management strategy . This movement enabled a reduction in the average rate from DI + 2.40% p.a. to DI + 0.95% p.a., improving the Company’s debt profile and making the capital structure more efficient. In 1H26, the Company’s net financial result was an expense of R$144.2 million, representing 2.9% of net revenue. (R$ ‘000) 2Q26 2Q25 26 vs 25 1H26 1H25 26 vs 25 Financial Revenues 25,224 26,174 -3.6% 71,170 52,890 34.6% Income from cash equivalents 25,224 26,174 -3.6% 71,170 52,890 34.6% Financial Expenses (98,753) (90,406) 9.2% (201,331) (168,354) 19.6% Interest on loans, financing and debentures (98,753) (90,406) 9.2% (201,331) (168,354) 19.6% Monetary and Currency Variation, net 8,778 14,752 -40.5% 58,863 74,538 -21.0% Interest on lease liabilities (36,123) (31,269) 15.5% (72,875) (59,984) 21.5% Net financial result (100,874) (80,749) 24.9% (144,173) (100,910) 42.9% % Net Revenue 3.7% 3.1% 0.6 p.p. 2.9% 2.1% 0.8 p.p.
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18 Results | 2Q26 NET INCOME The Company ended 2Q26 with net income of R$167.9 million, up 36.2% from 2Q25 and the highest result ever recorded for a second quarter. In the period, R$90.0 million in interest on equity (JCP) was allocated to shareholders, corresponding to R$0.1793 per share. In 2Q26, the income tax and social contribution line recorded a positive effect of R$12.3 million. The effective tax rate mainly reflected the tax benefit related to JCP, as well as other effects associated with non-deductible expenses and variations related to tax losses and negative CSLL basis not recognized. This performance highlights the Company’s ability to increase the conversion of EBITDA into net income, supported by higher profitability, financial discipline, and efficient capital allocation. In 1H26, net income totaled R$172.9 million, up 123.5% from 1H25 and more than double the result recorded in the same period of the previous year. On a last -twelve-month basis, net income reached a record R$528 million, up 58.9% from the period ended in 2Q 25, consolidating a consistent trajectory of profitability expansion and value creation for shareholders. (R$ ‘000) 2Q26 2Q25 26 vs 25 1H26 1H25 26 vs 25 EBITDA 460,587 408,811 12.7% 728,355 633,397 15.0% Depreciation and amortization (204,087) (180,753) 12.9% (401,991) (353,935) 13.6% Net financial result (100,874) (80,749) 24.9% (144,173) (100,911) 42.9% Result before taxes 155,626 147,309 5.6% 182,191 178,551 2.0% Income and Social Contribution Taxes 12,295 (24,026) n.a. (9,233) (101,164) -90.9% Net Income 167,921 123,283 36.2% 172,958 77,387 123.5% Net margin 6.2% 4.7% 1.5 p.p. 3.4% 1.6% 1.8 p.p.
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19 Results | 2Q26 CAPEX In 2Q26, CAPEX totaled R$156.1 million, equivalent to 5.8% of consolidated net revenue and 31.1% higher than in 2Q25. Considering investments recorded under Other Assets, related to CAPEX advances, the total amount allocated to investments reached R$278.5 million. The increase mainly reflects investments in the automation of the São Paulo Distribution Center, focused on greater logistics efficiency and agility, as well as store renovations under the new Incrivelmente Brasil concept carried out during the period. In 1H26, CAPEX totaled R$302.1 million, up 19.3% from 1H25, representing 6.0% of consolidated net revenue. (R$ '000) 2Q26 2Q25 26 vs 25 1H26 1H25 26 vs 25 Tech & Digital Transformation 92,396 73,697 25.4% 195,686 185,178 5.7% Distribution Centers 25,221 9,688 160.3% 55,062 13,294 314.2% Remodeling 16,747 253 6519.4% 18,361 352 5116.2% New stores 12,959 14,444 -10.3% 14,401 23,759 -39.4% Factory 3,558 6,862 -48.1% 5,764 9,946 -42.0% Maintenance 3,430 13,300 -74.2% 8,483 19,429 -56.3% Other 1,779 808 120.2% 4,351 1,212 259.0% Total 156,090 119,052 31.1% 302,110 253,169 19.3% % Consolidated net revenue 5.8% 4.6% 1.2 p.p. 6.0% 5.3% 0.7 p.p.
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20 Results | 2Q26 FREE CASH FLOW For better comparability, the following data does not consider the cash flow effects of the Midway Mall transaction. In 2Q26, operating cash flow generated R$134 million, while investment disbursements totaled R$266 million, resulting in free cash flow consumption of R$132 million. Operating cash generation was influenced by higher working capital needs, mainly due to the expansion of Midway’s loans portfolio and inventory dynamics, impacted by the commercial calendar. Investments, in turn, were directed to growth and efficiency initiatives, including the expansion plan, store renovations, and the automation of the Guarulhos Distribution Center. (R$ '000) 2Q26 2Q25 1H26 1H25 Consolidated EBITDA after IFRS 16 460,587 408,811 728,355 633,397 Items non cash 19,155 6,694 26,233 (32,700) IFRS 16 - rents (97,347) (91,309) (194,281) (176,927) Change in Working Capital (247,862) (644) (417,877) (341,584) Trade accounts receivable, net of card administrator obligations (166,922) (135,815) 173,250 107,529 Inventories 43,918 103,748 (174,998) (240,657) Suppliers (105,254) (119,105) (94,800) (111,273) Payroll, provisions and social contributions (8,390) 36,436 (109,085) (55,949) Taxes 47,051 118,489 (48,592) (6,294) Others (58,264) (4,397) (163,652) (34,939) Income tax and social contribution paid - (49,141) (82,819) (80,389) CF Operations 134,534 274,411 59,610 1,797 Investment - (312) - (693) Property, plant and equipment (59,773) (63,986) (87,219) (95,942) Intangible (96,317) (54,672) (214,891) (156,520) Other assets (122,366) - (201,580) - Asset movement 11,970 (12,185) 12,625 350 CF Investiments (266,486) (131,155) (491,064) (252,805) Free Cash Flow (131,953) 143,256 (431,454) (251,008) Financial expenses paid (56,040) (50,138) (27,186) 22,783 Dividends and interest on shareholders' equity (19) 1 (210,098) 1 Funding / Amortization (43,572) 67,128 (107,882) 57,103 Marketable securities 95,492 (149,838) 687,453 (151,530) Financial Cash Flow (4,140) (132,846) 342,286 (71,642) Increase (decrease) in cash and cash equivalents, net (136,092) 10,410 (89,168) (322,650)
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21 Results | 2Q26 Annexes STORE OPENINGS IN 2Q26 OWN PROPERTIES The Company has a sizeable portfolio of stores located on its own properties. Of the Company’s 444 stores at the end of June 2026, 47 were located on properties owned by the group. Thus, of the current 717,000 sqm of total sales area, 118,000 sqm, or 16.5% , corresponds to stores located on own properties. Considering the area of own properties, including stores, together with the Natal distribution center, Guararapes’ industrial plants, and the Call Center, the Company has approximately 483,000 sqm of total owned area. EBITDA Pre-IFRS 16 The 2Q25 data presented below include the results of Midway Mall, as reported in the Company’s Quarterly Information (ITR) as of June 30, 2026. Opening Sales Area (sqm) Carter's Bourbon Shopping (São Paulo –SP) April 96 Quantity Sales Area (sqm) Total Built Area Rented Stores 397 598,740 812,219 Mall Stores 386 579,227 779,088 Street Stores 11 19,514 33,131 Own Stores 47 118,224 207,622 Mall Stores 9 25,332 34,433 Street Stores 38 92,892 173,189 Total 444 716,965 1,019,842 Reconciliation of Pre-IFRS 16 EBITDA (R$ '000) 2Q26 2Q25 including Mall 26 vs 25 1H26 1H25 including Mall 26 vs 25 Net income 167,921 143,210 17.3% 172,958 116,560 48.4% (+) Income tax and social contributions provision (12,295) 33,913 -136.3% 9,233 119,237 -92.3% (+) Financial result 100,874 76,535 31.8% 144,173 91,906 56.9% (+) Depreciation and amortization 204,087 182,032 12.1% 401,991 356,362 12.8% EBITDA after IFRS 16 460,587 435,690 5.7% 728,355 684,065 6.5% (-) Lease depreciation (IFRS 16) (69,025) (66,241) 4.2% (137,686) (128,548) 7.1% (-) Lease finance expense (IFRS 16) (36,123) (31,269) 15.5% (72,875) (59,984) 21.5% (-) Other adjustments 17,780 6,680 166.2% 35,944 12,084 197.5% EBITDA pre IFRS 16 373,219 344,860 8.2% 553,738 507,617 9.1%
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22 Results | 2Q26 CONSOLIDATED INCOME STATEMENT The 2Q25 and 1H25 data presented below include the results of Midway Mall, as reported in the Company’s Quarterly Information (ITR) as of June 30, 2026 and, therefore, differ from the information presented in the previous sections. Income Statement (R$ ‘000) 2Q26 2Q25 including Mall 26 vs 25 1H26 1H25 including Mall 26 vs 25 Net revenue 2,691,703 2,635,360 2.1% 5,013,675 4,840,357 3.6% Net revenue - Products 2,007,524 1,962,476 2.3% 3,669,878 3,521,582 4.2% Net revenue - Financial Services 684,179 642,390 6.5% 1,343,797 1,259,617 6.7% Net revenue - Midway Mall - 30,494 n.a. - 59,158 n.a. Cost of goods and services sold (986,717) (1,033,924) -4.6% (1,888,149) (1,902,562) -0.8% COGS - products (871,368) (913,824) -4.6% (1,667,748) (1,685,180) -1.0% Costs - Financial Services (115,349) (120,100) -4.0% (220,401) (217,382) 1.4% Gross profit 1,704,986 1,601,436 6.5% 3,125,526 2,937,795 6.4% Gross margin 63.3% 60.8% 2.5 p.p. 62.3% 60.7% 1.6 p.p. Selling expenses (675,720) (651,051) 3.8% (1,335,279) (1,259,867) 6.0% General and administrative expenses (277,889) (278,656) -0.3% (535,076) (531,087) 0.8% Total operating expenses (953,609) (929,707) 2.6% (1,870,355) (1,790,954) 4.4% Provision for doubtful accounts (250,236) (220,072) 13.7% (478,185) (431,331) 10.9% Depreciation and amortization expenses (199,127) (177,644) 12.1% (392,414) (347,240) 13.0% Other operating expenses/income (45,514) (20,355) 123.6% (58,208) (40,567) 43.5% EBIT 256,500 253,658 1.1% 326,364 327,703 -0.4% Financial revenue (expense) (100,874) (76,535) 31.8% (144,173) (91,906) 56.9% Earnings before income tax and social contribution 155,626 177,123 -12.1% 182,191 235,797 -22.7% Income and social contribution taxes 12,295 (33,913) n.a. (9,233) (119,237) -92.3% Net income (loss) 167,921 143,210 17.3% 172,958 116,560 48.4% Net margin 6.2% 5.4% 0.8 p.p. 3.4% 2.4% 1.0 p.p. Depreciation and amortization (expenses+costs) 204,087 182,032 12.1% 401,991 356,362 12.8% EBITDA 460,587 435,690 5.7% 728,355 684,065 6.5% EBITDA margin 17.1% 16.5% 0.6 p.p. 14.5% 14.1% 0.4 p.p. Total common shares (ON) 502,066 499,200 n.a. 502,066 499,200 0.6% EPS (R$) 0.33 0.29 13.8% 0.34 0.23 47.8%
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23 Results | 2Q26 CONSOLIDATED BALANCE SHEET The 2Q25 and 1H25 data presented below include the results of Midway Mall, as reported in the Company’s Quarterly Information (ITR) as of June 30, 2026 and, therefore, differ from the information presented in the previous sections. Assets (R$ ‘000) 6/30/2026 6/30/2025 including Mall 12/31/2025 including Mall Current assets 9,130,955 8,442,818 10,027,107 Cash & cash equivalents 1,136,451 1,200,094 2,310,841 Trade accounts receivable 5,335,337 4,952,058 5,478,486 Accounts receiva ble - Midwa y ca rds 5,604,984 5,176,575 5,730,153 Accounts receiva ble - persona l loa ns 1,000,287 932,008 886,008 Accounts receiva ble - third pa rties ca rds a nd others 448,747 346,974 449,340 Provision for losses (1,718,681) (1,503,499) (1,587,015) Inventories 1,769,483 1,690,002 1,609,563 Recoverable taxes 439,140 466,302 438,498 Other current assets 450,544 116,000 172,485 Non-current assets held for sale - 18,362 17,234 Non-current assets 5,015,424 5,103,554 4,845,563 Deferred or recoverable taxes 1,349,565 1,428,282 1,392,255 Court deposits 85,549 57,686 66,191 Investment properties - 162,248 - Property, plant and equipment 1,456,904 1,407,216 1,473,044 Right of use 1,099,762 1,061,628 943,833 Intangible assets 1,023,644 986,494 970,240 Total assets 14,146,379 13,546,372 14,872,670 Liabilities (R$ ‘000) 6/30/2026 6/30/2025 including Mall 12/31/2025 including Mall Current liabilities 5,681,245 5,691,909 6,412,388 Suppliers 1,046,347 1,020,129 1,148,309 Suppliers - "Forfait" 49,281 125,148 58,352 Loans and financing 631,514 467,489 465,814 Debentures 41,141 311,464 31,916 Lease operations 260,166 356,093 223,798 Dividends proposed and payable 123,999 1,824 360,211 Wages, benefits and provisions 324,479 323,555 433,563 Income tax and social contribution 184,514 180,705 613,922 Obligations with card administrators 2,754,079 2,544,435 2,718,238 Other current liabilities 265,725 361,067 358,265 Non-current liabilities 3,062,105 2,327,033 3,107,570 Loans and financing 311,862 721,562 518,740 Debentures 1,447,656 472,153 1,446,776 Lease operations 981,126 826,717 845,725 Provision for labor, tax and civil risks 249,563 180,986 217,721 Other non-current liabilities 71,898 125,615 78,608 Shareholders’ equity 5,403,029 5,527,430 5,352,712 Share Capital 4,117,197 3,100,000 4,108,427 Treasury shares (20) (20) (20) Granted Options 76,354 62,795 67,787 Assigned cost reserve 74,498 75,084 74,734 Profit reserve 1,135,000 2,289,571 1,101,784 Total liabilities 14,146,379 13,546,372 14,872,670
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24 Results | 2Q26 CONSOLIDATED CASH FLOW The 2Q25 and 1H25 data presented below include the results of Midway Mall, as reported in the Company’s Quarterly Information (ITR) as of June 30, 2026 and, therefore, differ from the information presented in the previous sections. Cash Flow Statement - Indirect Method (R$ ‘000) 2Q26 2Q25 including Mall 1H26 1H25 including Mall Cash flow from operating activities Earnings before income tax and social contribution 155,626 177,123 182,191 235,797 Estimate for credit losses 249,886 222,379 505,253 428,344 Equity instruments granted 3,725 1,521 7,449 2,197 Tax credits recovery (2) (631) (2) (761) Depreciation and amortization 135,560 116,009 264,525 228,430 IFRS 16 depreciation 69,025 66,241 137,686 128,548 Profit from disposal of fixed assets (23,350) 219 (23,268) 2,723 Profit (loss) from the disposal of the investment - - - - Estimate for losses in inventories 8,565 (1,173) 15,080 12,097 Provision for labor, tax and civil risks 24,256 17,928 37,459 41,904 Provision for receivables to be released (176) - 5,740 - Interest and monetary exchange variation 84,672 77,532 142,150 147,425 Interest on IFRS 16 36,123 31,269 72,875 59,984 Adjustment to indirect subsidiary Midway Financeira - (5,012) - - Lease write off - (2,646) (440) (2,646) Interest on securities 20,800 (11,080) (1,276) (20,882) Changes in assets and liabilities Trade accounts receivable (457,668) (519,864) (367,844) (210,732) Inventories 43,916 103,747 (175,000) (240,658) Recoverable taxes 38,017 48,071 50,912 (3,114) Other assets (146,050) 1,132 (263,751) (3,895) Judicial deposits and others 39 (4,464) (2,237) (3,587) Suppliers (80,898) (34,725) (101,962) (2,034) Suppliers - "Forfait" (24,356) (82,998) (9,071) (107,572) Payroll, provisions and social contributions (8,389) 36,962 (109,084) (57,484) Income tax and social contribution (990) (2,219) (862) (15,853) Other taxes and contributions 22,321 45,343 (107,873) (92,912) Related parties 28 - 28 - Obligations with card administrators 40,861 163,387 35,841 (117,619) Other liabilities (34,706) 1,243 (99,275) (25,445) Cash provided from operating activities 156,835 445,294 195,244 382,255 Payment of interest (96,760) (62,833) (96,760) (62,833) Labor, tax and civil contingencies paid (6,657) (2,532) (6,772) (4,914) Payment of income tax and social contribution - (58,593) (272,595) (96,308) Net cash used in operating activities 53,418 321,336 (180,883) 218,200 Cash flow from investing activities Marketable securities (232,030) (155,134) (415,403) (265,134) Redemption of securities 325,753 5,814 1,094,085 115,597 Additions to investment property - (312) - (693) Additions to property, plant and equipment (59,773) (64,380) (87,219) (96,649) Additions to intangible assets (96,318) (54,672) (214,891) (156,520) Receivables from the sale of fixed assets 12,027 (12,150) 12,625 386 Net cash generated from (used in) investing activities (50,341) (280,834) 389,197 (403,013) Cash flow from financing activities Capital increase through the exercise of options 1,768 - 8,770 - Dividends paid - 1 68 1 Interest on own capital paid 14,984 - (337,947) - Income tax on interest on own capital paid (15,003) - (74,048) - Loans and financing 12,287 88,622 24,657 113,087 Amortization of loans and financings (55,859) (27,076) (132,539) (81,924) Amortization of lease liabilities (97,346) (91,309) (194,281) (176,927) Debenture amortization - (112,006) - (112,006) Net cash (used in) financing activities (139,169) (141,768) (705,320) (257,769) Increase in cash and cash equivalents, net (136,092) (101,266) (497,006) (442,582) Cash and cash equivalents at the beginning of the period 1,054,529 816,890 1,415,443 1,158,206 Cash and cash equivalents at the end of the period 918,437 715,624 918,437 715,624
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25 Results | 2Q26 For more information, contact Riachuelo’s IR team: ri@riachuelo.com.br https://ri.riachuelo.com.br/en