Earnings release
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1 1 < Press Release Second Quarter 2025 Webcast & Earnings Call Information: Date August 8, 2025 Time Chile: 11:00 AM EST: 11:00 AM GMT: 03:00 PM Join Here
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Press Release – Second Quarter 2025 | 2 Executive Summary (1) During 2Q25, Cencosud continued to see positive revenue growth, which also translated into an increase in Net Distributable Income for the quarter. Additionally, EBITDA margin expanded in four of its six countries. The sale of the service station business in Colombia was completed, continuing its profitability improvement plan. Finally, progress was made on the organic growth plan with openings in the United States, Brazil, and Colombia. Consolidated revenues for the quarter reached CLP 4,171,343 million, representing a 5.3% increase compared to 2Q24. Excluding the effect of hyperinflation in Argentina, revenues increased 7.2%. This performance was driven by revenue growth across all business units in Chile, along with an acceleration in Colombia, which recorded its highest sales growth since 2022. In the United States, revenue grew at a record pace (+9.0% in local currency), explained by the opening of three new stores during the quarter (13 openings compared to June 2024) and a 24.8% increase in online sales. In Argentina, all business units reported sales growth above inflation in local currency. Furthermore, the Supermarkets division recorded a 107 -bps market share expansion, driven by increased traction of Private Labels. In Brazil, the progress was made in the divestment of properties in Minas Gerais with the approval of the sale of the 22 remaining Bretas stores. At the consolidated level, online sales grew 7.8% YoY, while Private Label sales increased 12.3%, expanding their penetration by 48 -bps YoY, explained by the development of the value proposition and the launch of new products. Consolidated Adjusted EBITDA decreased 5.5% YoY , as a result of the accounting impact associated with hyperinflation adjustments in Argentina. Excluding this effect, Adjusted EBITDA grew 1.3% YoY. Chile had a noteworthy performance, achieving its seventh consecutive quarter with a double -digit Adjusted EBITDA margin, through the efficiency initiatives, Private Label development, E-commerce profitability, and the expansion of the Retail Media business. In Colombia, all businesses improved their Adjusted EBITDA compared to 2Q24, marking three consecutive quarters of Adjusted EBITDA margin expansion. Peru achieved record-high Adjusted EBITDA margin for a second consecutive quarter, reaching 11.8%. The Adjusted EBITDA margin in the United States was affected by a cyberattack on a logistics provider, which temporarily disrupted product distribution and availability. The issue has since been resolved. In Brazil, the Adjusted EBITDA margin expanded, partly due to the profit recognized from the sale of assets in Minas Gerais. In Argentina, the Adjusted EBITDA margin contracted, mainly as a result of inflation normalization. Reported Net Income for the quarter reached CLP 103,047 million , while Distributable Net Income (DNI) amounted to CLP 69,750 million, representing a 10.1% year -over-year increase , bringing year-to-date accumulated Distributable Net Income to CLP 169,808 million, a 494% increase compared to the same period last year. (1) Key figures on the right include the effect of the hyperinflation accounting standard in Argentina (IAS 29 ). Exchange rate used: CLP 947.0 (quarterly average). 4,405 USD MM +5.3% YoY Revenues 73.7 USD MM Distributable Net Income 386 USD MM -5.5% YoY Adjusted EBITDA 8.8% -100-bps YoY Adjusted EBITDA Margin
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Press Release – Second Quarter 2025 | 3 Message from Rodrigo Larraín, CEO At Cencosud, we continue to make determined progress in our strategy and in strengthening our multi-format Retail Ecosystem, staying true to over 60 years of history and the DNA passed down by our founder, Mr. Horst Paulmann. This legacy is reflected in our corporate purpose: To serve extraordinarily at every moment. In line with this commitment, we are proud to have been recognized as Chile’s #1 Citizen Brand by Cadem . This milestone reinforces our commitment to continu ously enhance customer experience and actively contribut e to the development of the communities in which we operate. I would like to extend my deepest gratitude to Cencosud’s exceptional team, whose dedication and talent bring this purpose to life every day. This q uarter’s results were impacted by extraordinary items and a volatile, uncertain global economic environment. At the same time consumption in the countries where we operate remains challenged. This context has generated a more intense promotional activity and competitiveness. Nevertheless, we achieved notable progress across our businesses and strategic priorities: Colombia continues to improve significantly its results . We completed the sale of the service stations and advanced with shopping center renovations, launching initiatives to capitalize on our strong real estate potential in the country. Brazil progresses in its transformation process, convinced of the market’s potential. We have strengthened the local team with new leaderships and continued enhancing in-store value propositions, beginning to recover traffic and sales . We also received approval to transfer the remaining 22 Bretas stores in Minas Gerais, allowing us to focus resources on more profitable markets. In the United States , we continue to execute our expansion plan, accumulating six new openings in 2025, with several additional stores projected for the second half of the year. The results reflect higher pre-opening costs and supply chain disruptions caused by issues with a key supplier – a situation that has been gradually normalizing. In Chile, all business units posted revenue growth, with Shopping Centers and Department Stores standing out. However, margins were pressured by increased promotional activity and a delayed start to the winter season. Peru maintained its growth in both revenue and profitability, while advancing new expansion projects. Argentina observed real revenue growth, with improvements in Shopping Centers —both in sales and store demand—as well as in Financial Services.
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Press Release – Second Quarter 2025 | 4 Our Private Labels continues to gain momentum, achieving 12,3% year-over-year growth and reaching a record 18% penetration. We highlight Cuisine & Co , recognized by Cadem as Chile’s #1 Emerging Brand. We are building the Cencosud of the future , with the creation of a Corporate Transformation Office to accelerate, coordinate, and prioritize multiple strategic projects, maximizing their impact and optimizing capital allocation. On the sustainability front, we intensified efforts in healthy food, energy efficiency, and waste reduction. In Chile, a new energy management system was implemented in over 300 stores. In Argentina, more than 218 tons of food were rescued through our partnership with Cheaf. Looking ahead to the second half of the year, we will continue to drive key initiatives across all our markets, guided by a long -term vision and a clear purpose , with an optimistic outlook on the growth and profitability opportunities we are generating.
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Press Release – Second Quarter 2025 | 5 1. Important Events & Recognitions 1.1 Important Events • Refinancing of The Fresh Market Debt During 2Q25, we carried out a refinancing transaction for The Fresh Market, which involved issuing a new loan for USD 600 million to prepay the previous USD 597 million loan. This liability management initiative is notable for: ✓ A lower interest rate compared to the previous loan, resulting in financial cost savings ✓ A more flexible amortization schedule by extending maturity until 2030, converting from a semiannual amortizations loan to a bullet loan ✓ The elimination of the Net Financial Debt / EBITDA covenant from the Company's Covenant portfolio ✓ Firm offers exceeded USD 1.8 billion with a 3.0x oversubscription • Cencosud Executes Share Buyback In June, Cencosud initiated a share buyback operation under the program approved at the April 2021 Extraordinary Shareholders’ Meeting. The Company offered to acquire up to 1.5% of its shares, equivalent to 42,088,051 shares, at a price of CLP 3,200 per share. Applying the Block Firm Offer (OFB) mechanism, the operation took place with offers received between June 5 and June 27 through administrator BTG Pactual. • Sale of Service Stations in Colombia In June, we finalized the sale of the Service Station business in Colombia, encompassing 37 locations, to a local operator . The transaction include d the sale of seven properties and long -term lease contracts for the Company -owned sites. The transaction is currently under review by the Superintendence of Industry and Commerce. • Progress in Expansion Plan (2) During 2Q25, Cencosud opened five new stores in the region, including three stores in the United States, one GIGA store in Brazil, and a new Jumbo store in Colombia, strengthening its regional value proposition with a focus on supermarkets. The Shopping Centers and Office division enabled 25,000 sqm of new office space in Gran Torre Costanera in response to increased demand. Further highlights include the inauguration of the new gastronomic zone at Cenco Portal La Dehesa, spanning approximately 1,900 sqm, as well as the opening of a new sporting goods store of around 1,900 sqm. • New Regional Transformation Department Reporting directly to the CEO, the new Transformation Department aims to accelerate, coordinate, and prioritize multiple strategic projects, maximizing their impact and optimizing the use of capital. The Transformation division has a regional scope and an ecosystem-wide vision, driving business value creation. (2) Further details on the Company’s organic growth during the quarter can be found in section 3.2.3 of this report.
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Press Release – Second Quarter 2025 | 6 Events After the Reporting Period • Approval for the Sale of 22 Bretas Stores In July, Cencosud received approval from CADE, the Brazilian antitrust authority, for the sale of 22 Bretas stores located in Minas Gerais. This transaction is part of the divestiture announced in 1Q25, which includes a total of 54 stores, eight gas stations, and one distribution center to a local buyer. 1.2 Awards & Recognitions • Cencosud Recognized as the Best Citizen Brand in Chile Cencosud was recognized by Cadem as the most highly valued corporate brand by the public in Chile, due to its social impact, daily relevance, and positive public perception. In the same study, Jumbo ranked 16 th in the overall ranking, reaffirming its closeness and commitment to consumers throughout the country. Additionally, Cuisine & Co earned first place in the Emerging Brands category, representing names that are growing, differentiating themselves, and capturing market attention. • The Fresh Market Recognized among the Best Places to Work The Triad Business Journal recognized The Fresh Market as the third best company to work for in the Greensboro, Winston -Salem, and High Point area — known as the Triad—in the large company category. This was The Fresh Market’s first participation in the ranking, which is based on anonymous employee surveys. The recognition reflects the Company’s commitment to its team experience and organizational culture. • Wong Supermarkets: Leader in Customer Experience in Peru For the third consecutive year, Wong Supermarkets was recognized as the supermarket with the best customer experience in Peru, according to the 2024 Best Customer Experience (BCX) ranking by Izo (3). The award highlights the quality of product assortment, personalized service, and emotional experience Wong offers in both physical stores and online channels. • Cencosud Media Recognized as Best Media Proposal at Brand100 Chile Cencosud Media was recognized as the Best Media Proposal at Brand100 Chile 2025, one of the most important events in the advertising industry. More than 80 brands and agencies selected Cencosud’s retail media platform as the most outstanding, validating its ability to combine first -party data, omnichannel solutions, and accurate performance measurement. (3) IZO is an international firm specializing in customer experience. The Best Customer Experience (BCX) ranking is based on over 100,000 consumer evaluations across 12 Ibero-American countries, measuring emotional perception, satisfaction, and multichannel interaction.
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Press Release – Second Quarter 2025 | 7 • Cencosud and Paris again among the Best Places to Work for LGBTI+ employees Cencosud Chile and Paris were recognized by the Equidad (Equity) CL 2025 program as two of the Best Places to Work for LGBTI+ people in Chile. This is the second time Cencosud has received this certification and the fifth for Paris. The recognition, granted by the Human Rights Campaign in partnership with Fundación Iguales and Pride Connection Chile, reaffirms both companies’ ongoing commitment to diversity, equity, and inclusion in the workplace. • Cencosud among the Top 20 Companies Preferred by Digital Talent under 35 in Chile In the TOM (Top of Mind) Tech 2025 ranking, Cencosud ranked among the Top 20 most aspirational companies for technology professionals under 35 in Chile. This recognition places Cencosud in the top 10% of companies most mentioned by young digital talent as a dream workplace, reflecting its c ommitment to innovation, growth, and the creation of a diverse environment where young professionals can thrive. • Cencosud Peru climbs the Merco Talent 2025 ranking Cencosud Peru was recognized in the Merco Talent 2025 ranking, which evaluates companies’ ability to attract, develop, and retain talent in the country. The Company advanced 7 positions in the overall ranking, placing among the top 30 companies for talent in Peru. Additionally, the Company ranked 3rd in the Self -Service sector, reaffirming its position as one of the most highly valued companies by its own employees, potential talent, and human resources experts. • Cencosud Recognized among the Best Companies for Trainees in Chile Cencosud was recognized by FirstJob as one of the Best Companies for Interns in Chile 2025, ranking 29th out of more than 90 companies evaluated. The recognition is based on the feedback of over 2,800 young people, who positively rated aspects such as growth opportunities, work environment, and corporate image. This result reinforces Cencosud’s commitment to attracting and developing young talent. • Cencosud Awarded Schneider Electric Sustainability Impact Award Cencosud received the ‘Country Winner Brazil ’ category, highlighting the Company’s environmental progress. Operations in Brazil are powered by 97% renewable electricity. Additional achievements over the last 12 months include: ✓ Over 1 million kWh of energy saved ✓ Over 6,000 m³ of water preserved ✓ Over 194 tons of CO₂ emissions avoided • The Fresh Market wins multiple Vertex Awards The Vertex Awards (a global competition that honors the best Private Label product packaging ) awarded The Fresh Market and its team for the design of its Private Label products. Recognitions included Retailer of the Year and Designer of the Year, highlighting the innovation and quality of the new designs that are setting trends in the retail sector.
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Press Release – Second Quarter 2025 | 8 2. Sustainability Corporate Governance • Cencosud Launches Regional Leadership Program for Store Managers Cencosud launched the “Leadership for Store Managers” program in Chile , a new training initiative that is expanding regionally. The program seeks to strengthen the store operations leaders’ skills, enhancing their role in delivering an extraordinary experience to both customers and their teams. 363 store managers in Chile participated as part of this first stage , reinforcing the Company’s commitment to internal talent development and operational excellence. People • Cencosud Peru launches “Good Ideas for Better Nutrition” Through Metro Supermarkets, Cencosud Peru launched an initiative to combat childhood anemia and malnutrition through the platform ‘Good Ideas for Better Nutrition ’. This platform coordinates work with partners ranging from access to food and nutritional education for early detection of anemia. ✓ Over 1,500 people screened ✓ 16 nutritional education workshops for customers scheduled between June 2025 and January 2026 ✓ Collaborative work with 5 partner organizations: United Way Peru, La Revolución, Peruanos x Peruanos, Banco de Alimentos Perú, and UNICEF • 25 school communities in Chile now benefit from the Como Cambio program In Chile, the Como Cambio healthy eating and lifestyle program continues to expand. During the first half of this year, 25 educational institutions implemented it, reaching over 5,000 children nationwide. This initiative reflects Cencosud’s commitment to promoting a healthy lifestyle culture among its customers and communities. • The Fresh Market launches charitable initiative with Carla Hall and the Alzheimer’s Association In June, The Fresh Market partnered with chef Carla Hall and the Alzheimer’s Association in a charitable campaign in the U.S. The initiative includes the exclusive sale of Sweet Heritage Butter Tarts, created by the chef, with 10% of the sale price donated to support individuals affected by Alzheimer’s.
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Press Release – Second Quarter 2025 | 9 Planet • Cencosud advances its sustainability strategy with smart energy management As part of its commitment to energy efficiency and decarbonization, Cencosud implemented an Energy Management Platform to monitor energy consumption at more than 300 Jumbo, Santa Isabel, and Paris stores in Chile. • Easy promotes circularity in its stores Easy Chile completed its first official delivery of unused pallets to the company Armony. In total, 22 tons were delivered, which will be reused as substrates for gardening, among other purposes. This circularity initiative allows these materials to be repurposed and sold at Easy stores. • Cencosud receives sustainability certification for circular model with CHEP (4) Cencosud received certification from CHEP (Commonwealth Handling Equipment Pool) recognizing its participation in a circular economy model by employing reusable pallets. The Jumbo, Santa Isabel, and Spid brands were acknowledged for returning unused pallets, optimizing wood use, reducing waste, and lowering emissions. According to CHEP, the following collective savings were achieved in 2024: ✓ 10.56 million dm³ of wood, equivalent to saving over 10,205 trees ✓ 3.48 million kg of CO₂ emissions avoided ✓ 2.24 million kg of waste not generated (4) Commonwealth Handling Equipment Pool is a global company specialized in sustainable logistics solutions, particularly in the rental and management of pallets, containers, and reusable boxes. It was founded in Australia and now operates in over 60 countries .
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Press Release – Second Quarter 2025 | 10 3. Income Statements 3.1 Consolidated Income Statements 2Q25 (5) As Reported Excl. IAS 29 CLP Million 2Q25 2Q24 Var % 2Q25 2Q24 Var % Total Revenues 4,171,343 3,962,806 5.3% 4,166,509 3,888,037 7.2% Gross Profit 1,243,095 1,194,583 4.1% 1,252,043 1,161,202 7.8% Gross Margin 29.8% 30.1% -34 bps 30.1% 29.9% 18 bps SG&A -1,031,099 -947,641 8.8% -1,015,334 -918,170 10.6% Operating Result 259,499 306,994 -15.5% 283,298 298,659 -5.1% Non-operating Result -92,273 -148,446 -37.8% -96,875 -91,725 5.6% Taxes -64,179 -48,771 31.6% -50,342 -41 122,688% Net Income 103,047 109,777 -6.1% 136,081 206,892 -34.2% Net income from controlling shareholders 86,491 90,795 -4.7% 119,525 187,914 -36.4% Net Income from non- controlling shareholders 16,556 18,982 -12.8% 16,556 18,979 -12.8% Distributable Net Income 69,750 63,349 10.1% N.A. N.A. N.A. Adjusted EBITDA 365,820 386,965 -5.5% 374,546 369,606 1.3% Adjusted EBITDA Margin 8.8% 9.8% -100 bps 9.0% 9.5% -52 bps (5) The detailed Income Statement and the impact of hyperinflation in Argentina are available in the Annex of this report.
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Press Release – Second Quarter 2025 | 11 3.2 Performance by Country (6) 3.2.1 Results by Country (7) Revenues 2Q25 2Q24 % vs 2024 CLP MM CLP MM CLP ∆ % LC ∆ % Chile 1,815,747 1,739,885 4.4% 4.4% Argentina 871,963 673,904 29.4% 66.4% USA 523,149 473,805 10.4% 9.0% Brazil 393,492 463,264 -15.1% -8.7% Peru 322,250 298,406 8.0% 4.1% Colombia 239,908 238,773 0.5% 6.3% Total 4,166,509 3,888,037 7.2% N.A. Adjusted EBITDA 2Q25 2Q24 % vs 2024 CLP MM CLP MM CLP ∆ % LC ∆ % Chile 210,120 215,352 -2.4% -2.4% Argentina 49,858 56,160 -11.2% 14.1% USA 50,353 44,548 13.0% 11.5% Brazil 20,923 22,787 -8.2% -1.2% Peru 38,155 34,243 11.4% 7.4% Colombia 5,138 -3,484 N.A. N.A. Total 374,546 369,606 1.3% N.A. 3.2.2 Same Store Sales Local Currency Variation 2Q25 2Q24 Supermarkets Chile 2.6% -0.7% Argentina 37.8% 256.2% USA 2.8% -2.1% Brazil -5.2% -0.5% Peru 2.8% -4.5% Colombia 5.2% -8.1% Home Improvement Chile 3.2% -2.1% Argentina 45.8% 194.2% Colombia 1.7% -8.1% Department Stores Chile 9.9% 12.8% (6) For comparative purposes and financial performance analys es, figures exclude the effects of hyperinflationary economies (IAS 29). (7) LC refers to local currency.
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Press Release – Second Quarter 2025 | 12 3.2.3 Organic Growth During the second quarter of 2025, the Company opened 5 new stores, totaling 10,054 sqm of sales area. In the United States, The Fresh Market opened three new stores: in Wethersfield (Connecticut), Stuart (Florida), and Mt. Pleasant (South Carolina), adding 4,703 sqm of sales area. With these openings, The Fresh Market has opened 6 new stores year-to-date. In Brazil, GIGA Atacado opened a new store in São Paulo, totaling 4,147 sqm of sales area. Located in a high -traffic area, this store is the first in the Cash & Carry format to feature services such as a bakery, butcher shop, coffee shop, and an electric vehicle charging station, marking a milestone in the chain’s value proposition. In Colombia, Jumbo opened a new store in the city of Bogota, adding 1,204 sqm of sales area. With this opening, Jumbo reaches a total of 44 stores in the country. Openings Remodelings Closures 2Q25 # Sqm # # sqm Chile - - 1 1 450 Argentina - - - - - USA 3 4,703 - 1 1,301 Brazil 1 4,147 - - - Peru - - - - - Colombia 1 1,204 - - - Total 5 10,054 1 2 1,751
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Press Release – Second Quarter 2025 | 13 3.2.4 Online Sales (8) CLP Million Online Sales % vs 2024 2Q25 2Q24 Δ CLP Δ LC Chile 303,469 286,214 6.0% 6.0% Argentina 27,088 27,442 -1.3% 26.9% USA 44,412 35,124 26.4% 24.8% Brazil 11,236 13,282 -15.4% -9.1% Peru 21,975 15,635 40.6% 35.5% Colombia 12,334 12,310 0.2% 6.0% Total 420,514 390,006 7.8% N.A. 3.2.5 Online Penetration 2Q25 Penetration % 2Q25 2Q24 Δ bps Supermarkets 8.7% 8.3% 41 SMKT Chile 14.5% 13.7% 81 SMKT Argentina 2.9% 3.6% -75 SMKT USA 8.5% 7.4% 108 SMKT Brazil 3.0% 3.0% -1 SMKT Peru 7.0% 5.4% 162 SMKT Colombia 5.6% 5.5% 5 Home Improvement 9.6% 10.1% -50 Department Stores 31.3% 33.2% -188 Total 10.5% 10.4% 14 (8) Online sales figures (excluding IAS 29) reflect 1P data, including sales through last -mile delivery operators. Online Penetration 10.5% Online Tickets 7.7 MM Online Sales 444 USD MM
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Press Release – Second Quarter 2025 | 14 3.2.6 Private Label During 2Q25, Private Label products reached a 17.9% share of total sales, representing a 48-bps increase compared to the same period last year and marking a record penetration rate. At the regional level, Argentina posted the highest growth, with an increase of 1 59-bps, driven by new launches in the Home Care, Family Care, and frozen food categories. Colombia also stood out with a 73-bps increase, fueled by the expansion of brands such as Cuisine & Co and Home Care. In the Food segment, penetration reached 16.2%, reflecting a 34 -bps YoY increase, with progress led by Argentina and Chile. In the Non -Food segment, penetration rose to 22.8%, up 86-bps, driven by new offerings across all countries, particularly the rollout of personal care and home care lines. Key highlights for the quarter include the launch of Hacks & Racks , a new exclusive brand offering comprehensive organization solutions, introduced in Easy Chile, Argentina, and Colombia. Additionally, Cuisine & Co was recognized as the #1 Emerging Brand in Chile according to the Cadem study, consolidating its position as a flagship within Cencosud’s Private Label portfolio. Private Label Penetration Food Non-Food Total 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 Chile 12.9% 12.8% 27.5% 26.8% 17.6% 17.3% Argentina 17.5% 16.8% 17.9% 14.5% 17.6% 16.0% USA 30.9% 31.7% 0.8% 1.5% 29.4% 30.3% Brazil 4.9% 4.9% 3.6% 3.9% 4.7% 4.8% Peru 15.4% 15.4% 39.7% 39.0% 19.1% 18.9% Colombia 10.7% 10.0% 8.4% 7.6% 10.0% 9.2% Total 16.2% 15.9% 22.8% 21.9% 17.9% 17.4%
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Press Release – Second Quarter 2025 | 15 3.2.7 Results by Country and Business Chile REVENUES 2Q25 2Q24 vs 2024 CLP MM % CLP MM % CLP ∆ % Supermarkets 1,244,453 29.9% 1,200,287 30.9% 3.7% Shopping Centers 64,506 1.5% 59,516 1.5% 8.4% Home Improvement 195,202 4.7% 189,836 4.9% 2.8% Departments Stores 304,067 7.3% 285,895 7.4% 6.4% Others 7,519 0.2% 4,351 0.1% 72.8% Revenues 1,815,747 43.6% 1,739,885 44.7% 4.4% ADJ. EBITDA 2Q25 2Q24 vs 2024 CLP MM Mg (%) CLP MM Mg (%) CLP ∆ % Supermarkets 157,752 12.7% 162,537 13,5% -2.9% Shopping Centers 51,802 80.3% 47,423 79,7% 9.2% Home Improvement 8,516 4.4% 11,438 6,0% -25.5% Departments Stores 24,720 8.1% 20,086 7,0% 23.1% Financial Services -848 N.A. -607 N.A. 39.7% Others -31,822 N.A. -25,525 N.A. 24.7% ADJ. EBITDA 210,120 11.6% 215,352 12,4% -2.4% Supermarkets During 2Q25, revenues increased 3.7% year-over-year, driven by a 10.1% growth in online sales and the strengthening of Private Labels. Sales growth accelerated compared to 1Q25, despite a slowdown in food inflation. The quarter also benefited from seasonal effects such as Easter and the Cyber campaign, which positively impacted store traffic and sales volume, boosting both the average ticket and the total number of transactions. The Adjusted EBITDA margin was 12.7% (-87 bps YoY). This contraction is mainly explained by higher labor costs and electricity tariffs. Highlights of the Quarter All business units posted revenue growth versus 2Q24 E-commerce grew 6.0% YoY nationwide , propelled by a 10 ,1% increase in online Supermarket sales Department Stores expanded their Adjusted EBITDA margin by 110 -bps YoY, reaching 8.1%, the highest second-quarter EBITDA margin since 2021
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Press Release – Second Quarter 2025 | 16 Home Improvement In the context of a strategic transition in the product mix and construction activity still below historical levels, quarterly revenues rose 2.8% compared to 2Q24. Additionally, a milder fall and winter season compared to 2024 created a more challenging comparison base for heating products. Easy continues to develop its value proposition, within which it launched a new Private Label brand offering home organization solutions: Hacks & Racks. Adjusted EBITDA declined 25.5% YoY, reaching a margin of 4.4%. The quarter recorded a 54 bps YoY gross margin contraction due to higher costs associated with the implementation of our new strategy, increases in labor costs, and electricity costs. Department Stores Quarterly revenues increased 6.4% YoY, mainly propelled by sales growth in strategic categories such as Private Labels, apparel, and cosmetics, as well as sales associated with tourism. Notably, physical stores performed strongly, with Same Store Sales growing 9.9% YoY and the customer satisfaction index improving by 37 points compared to 2024, resulting from a stronger focus on customer experience. Adjusted EBITDA grew 23.1% YoY, reaching an Adjusted EBITDA margin of 8.1%, marking the best second -quarter margin since 2021. This improvement is attributed to the continuous development of the value proposition, product mix optimization, and greater cost control. Shopping Centers Revenues increased 8.4% in the quarter compared to the same period in 2024. Notable milestones include the placement of approximately 30,000 sqm of leasable area, 25,000 sqm of which correspond to new office spaces in the Gran Torre Costanera. Additionally, tenant sales rose 5.7% YoY. Adjusted EBITDA increased 9.2% compared to 2Q24, mainly attributable to revenue growth and a YoY reduction in expenses. Financial Services Adjusted EBITDA reported a negative result of CLP 848 million. This compares to a negative result of CLP 607 million in 2Q24. Adjusted EBITDA for Financial Services in Chile reflects a risk adjustment defined by the shareholders of the Joint Venture, within the framework of exercising control over the business. Excluding this adjustment, Adjusted EBITDA contracted 11.7% year -over-year, due to a higher risk provision, increased portfolio write -offs, and technology-related expenses. Others (9) The Other segment recorded a negative Adjusted EBITDA of CLP 31,822 million for the quarter, compared to negative CLP 25,525 million in 2Q24, representing a 24.7% YoY variation. This performance reflects less favorable foreign exchange differences, a lower mark -to-market contribution from derivatives, and the absence of extraordinary income recorded in 2Q24. Excluding the Other segment, Adjusted EBITDA for the Chilean operations would have grown 0.4% YoY. (9) The Other segment consolidates accounting items not directly attributable to other business units, such as support services, financing, adjustments, and other items.
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Press Release – Second Quarter 2025 | 17 Argentina (10) Supermarkets 2Q25 revenues increased 75.4% in ARS and 36.4% in CLP year -over-year. The period was marked by revenue growth above inflation, even when excluding the recent acquisition of Makro. The improved performance of Private Labels, along with more attractive commercial dynamics, drove sales compared to 2Q24, increasing the average ticket by over 50% YoY and expanding market share by 107-bps YoY. Additionally, the implementation of Cheaf has helped reduce food waste and monetize pre-waste, while also attracting new customers to stores. Adjusted EBITDA for 2Q25 grew 16.8% in ARS and declined 9.2% in CLP year -over-year, reflecting pressure from increased merchandise costs as well as higher expenses related to wage adjustments stemming from collective bargaining agreements. Home Improvement 2Q25 revenues grew 44.7% in ARS and 12.6% in CLP, driven by a 47.3% YoY increase in physical store sales. This improvement occurred in the context of a broader assortment of imported products and a recovery in total tickets (+13.9% YoY), despite a decline in total units per purchase. (10) General inflation in Argentina for the 12 months ending in June was 39,4%, while food inflation was 32.3%. Highlights of the Quarter The operation in Argentina recorded real-term growth in each month of the quarter Private Label increased its penetration by 159 -bps compared to third -party sales Since its implementation in Supermarkets Argentina, the food waste reduction app Cheaf has rescued and sold over 218 tons of food REVENUES 2Q25 2Q24 % vs 2024 CLP MM % CLP MM % CLP ∆% LC ∆ % Supermarkets 629,190 15.1% 461,376 11.9% 36.4% 75.4% Shopping Centers 24,093 0.6% 18,230 0.5% 32.2% 70.0% Home Improvement 180,649 4.3% 160,402 4.1% 12.6% 44.7% Financial Services 36,557 0.9% 32,073 0.8% 14.0% 46.8% Others 1,474 0.0% 1,823 0.0% -19.1% 2.6% Revenues 871,963 20.9% 673,904 17.3% 29.4% 66.4% Adjusted EBITDA CLP MM Mg (%) CLP MM Mg (%) ∆ % LC ∆ % ADJ. EBITDA 49,858 5.7% 56,160 8.3% -11.2% 14.1%
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Press Release – Second Quarter 2025 | 18 Adjusted EBITDA increased 57.4% in ARS and 22.8% in CLP, reflecting a gross margin improvement of 124-bps YoY despite the continued decline in inflation. Shopping Centers 2Q25 revenues rose 70.0% in ARS and 32.2% in CLP year-over-year, understood by tenant sales growth above inflation and an occupancy rate of 9 2.6%. Despite this, foot traffic remained relatively stable compared to the previous year (+0. 6%) given the still-affected consumption environment. Adjusted EBITDA increased 60.3% in ARS and 25.3% in CLP, propelled by the YoY expansion in sales and partially offset by a higher expense base resulting from a positive impact recorded in 2Q24. Financial Services 2Q25 revenues increased 46.8% in ARS and 14.0% in CLP. The reactivation of th is business is reflected in higher income from fees and interest, as well as insurance sales growth exceeding 100% YoY. Adjusted EBITDA decreased 26.7% in ARS and 43.2% in CLP, mainly because of higher funding costs, increased risk charges, and higher write -offs associated with elevated interest rates in the prior year. United States REVENUES 2Q25 2Q24 % vs 2024 CLP MM % CLP MM % CLP ∆% LC ∆ % Supermarkets 523,149 12.6% 473,805 12.2% 10.4% 9.0% Others 0 0.0% 0 0.0% N.A. N.A. Revenues 523,149 12.6% 473,805 12.2% 10.4% 9.0% Adjusted EBITDA CLP MM Mg (%) CLP MM Mg (%) ∆ % LC ∆ % ADJ. EBITDA 50,353 9.6% 44,548 9.4% 13.0% 11.5% Supermarkets Revenues from the Supermarkets and consolidated U.S. increased 9.0% in USD and 10.4% in CLP year-over-year, driven by the opening of 13 new stores since 2Q24, a 24.8% YoY growth in online sales, and same-store sales growth in line with inflation. Highlights of the Quarter The Fresh Market recorded its highest sales growth rate (9.0%) since its acquisition in 2022 E-commerce sales grew 24.8% YoY, reaching an 8.5% penetration of total sales The Fresh Market was recognized as one of the best places to work in the ‘Triad’ region, according to the Triad Business Journal
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Press Release – Second Quarter 2025 | 19 Adjusted EBITDA for the Supermarkets segment grew 2.1% in local currency and 3.5% in CLP year-over-year, reflecting higher product costs, as well as increased expenses related to store pre-openings and credit card commissions driven by the growth in online sales. Consolidated Adjusted EBITDA for the United States increased 11.5% in USD and 13.0% in CLP compared to 2Q24. The difference with the Supermarkets segment is mainly explained by insurance reimbursements for losses associated with Hurricanes Helene and Milton in 2024. Brazil REVENUES 2Q25 2Q24 % vs 2024 CLP MM % CLP MM % CLP ∆ % LC ∆ % Supermarkets 393,492 9.4% 462,865 11.9% -15.0% -8.6% Financial Services 0 0.0% 399 0.0% 0.0% N.A. Others 0 0.0% 0 0.0% N.A. N.A. Revenues 393,492 9.4% 463,264 11.9% -15.1% -8.7% Adjusted EBITDA CLP MM Mg (%) CLP MM Mg (%) ∆ % LC ∆ % ADJ. EBITDA 20,923 5.3% 22,787 4.9% -8.2% -1.2% Supermarkets In 2Q25, Supermarkets revenues declined 8.6% in BRL and 15.0% in CLP compared to 2Q24, largely due to intensified promotional activity and new store openings by competitors . However, the improved value proposition in perishables and store layout adjustments have supported a gradual recovery in sales throughout the year. Despite the transfer of 32 Bretas stores in Minas Gerais, sales in 2Q25 declined to a lesser extent ( -8.6%) than in 1Q25 ( -11.4%). Similarly, 2Q25 Same Store Sales (-5.2%) showed a sequential improvement compared to 1Q25 (-12.1%). At the consolidated level, revenues in Brazil declined 8.7% in BRL and 15.1% in CLP year- over-year. Adjusted EBITDA for the Supermarkets segment declined 41.4% in local currency and 45.4% in CLP compared to 2Q24, due to lower sales volumes and expenses increasing in line with inflation. However, Adjusted EBITDA improved significantly compared with 1Q25, mainly explained by the operational improvement and the sale of the 32 stores in Minas Gerais during the quarter. On a consolidated basis, Adjusted EBITDA in Brazil decreased 1.2% in BRL and 8.2% in CLP year-over-year. Highlights of the Quarter Gross margin in Supermarkets improved 122 -bps YoY, driven by the transfer of 32 Bretas stores and the expansion of the Retail Media business A new GIGA store opened in Sao Paulo, featuring services such as a bakery, butcher shop, coffee shop, and electric vehicle charging station —marking a milestone in the chain’s value proposition
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Press Release – Second Quarter 2025 | 20 Peru REVENUES 2Q25 2Q24 % vs 2024 CLP MM % CLP MM % CLP ∆% LC ∆ % Supermarkets 313,792 7.5% 290,701 7.5% 7.9% 4.1% Shopping Centers 7,652 0.2% 7,463 0.2% 2.5% -1.1% Others 806 0.0% 242 0.0% 232.5% 220.9% Revenues 322,250 7.7% 298,406 7.7% 8.0% 4.1% Adjusted EBITDA CLP MM Mg (%) CLP MM Mg (%) ∆ % LC ∆ % ADJ. EBITDA 38,155 11.8% 34,243 11.5% 11.4% 7.4% Supermarkets Revenues increased 4.1% in PEN and 7.9% in CLP compared to 2Q24, driven by a 35.5% YoY growth in online sales, achieving a penetration rate of 7.0%. Same Store Sales also expanded above inflation, reaching 2.8% YoY. Adjusted EBITDA decreased 0.5% in PEN and increased 3.2% in CLP year -over-year, impacted by extraordinary expenses associated with widespread regulatory inspections across the country. Shopping Centers Quarterly revenues declined 1.1% in PEN and rose 2.5% in CLP compared to the previous year. This occurred in the context of a 2.0% YoY decrease in foot traffic and despite a 3.4% increase in tenant sales versus 2Q24. Adjusted EBITDA increased 6.0% in PEN and 10.0% in CLP, resulting in an EBITDA margin expansion of 585-bps compared to 2Q24. Financial Services Adjusted EBITDA for 2Q25 posted a positive result, in contrast to the negative result recorded in 2Q24. This outcome reflects lower late-payment rates and reduced provisioning for the loan portfolio. Highlights of the Quarter 2Q25 Adjusted EBITDA margin grew 36-bps reaching 11.8% , the highest second quarter Adjusted EBITDA margin ever recorded by Peru Online sales increased 35.5% compared to 2Q24, achieving a 162-bps increase in penetration
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Press Release – Second Quarter 2025 | 21 Colombia REVENUES 2Q25 2Q24 % vs 2024 CLP MM % CLP MM % CLP ∆ % LC ∆ % Supermarkets 217,232 5.2% 218,429 5.6% -0.5% 5.2% Shopping Centers 3,177 0.1% 2,926 0.1% 8.6% 15.0% Home Improvement 18,778 0.5% 19,476 0.5% -3.6% 2.1% Financial Services 912 0.0% -1,294 0.0% N.A. N.A. Others -192 0.0% -764 0.0% -74.9% -73.2% Revenues 239,908 5.8% 238,773 6.1% 0.5% 6.3% Adjusted EBITDA CLP MM Mg (%) CLP MM Mg (%) ∆ % LC ∆ % ADJ. EBITDA 5,138 2.1% -3,484 -1.5% N.A. N.A. Supermarkets In 2Q25, revenues grew 5.2% in COP and decreased 0.5% in CLP. The operation showed a positive and sustained performance throughout the quarter, with growth recorded in all three months. The average ticket increased 11.3%, with improved performance in both physical and online channels. Additionally, Supermarkets continued to enhance their value proposition during the quarter by piloting the Cash & Carry format under the Metro Almacén brand and placing greater focus on perishables, product variety, and customer service in Jum bo. These efforts contributed to an ~8 -point improvement in the customer satisfaction index since the beginning of the year. The new Metro Almacén format offers a more streamlined assortment and the possibility to buy in bulk at a discount for both B2B and B2C customers. Adjusted EBITDA increased 91.9% in COP and 83.5% in CLP year -over-year, resulting in a 169 bps expansion in EBITDA margin. This was driven by an 82 -bps YoY improvement in gross margin and expense growth below inflation, thanks to cost-reduction initiatives. Home Improvement 2Q25 revenues increased 2.1% in COP and declined 3.6% in CLP year -over-year, marking a recovery in the segment following store -layout adjustments, a push in wholesale channel Highlights of the Quarter All business divisions posted sales growth compared to 2Q24 Colombia’s Adjusted EBITDA margin improved by 357 -bps YoY, driven by increased profitability in Supermarkets, Home Improvement, and Financial Services During the quarter, the sale of the Service Station business was approved. Additionally, a new Jumbo store was opened, adding over 1,200 sqm of sales area
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Press Release – Second Quarter 2025 | 22 sales, and product -mix development. Additionally, the online channel recorded a 7.0% YoY growth in revenues. Adjusted EBITDA posted a less negative result, improving by 57.9% in COP and 60.2% in CLP compared to 2Q24. A 339-bps expansion in gross margin, explains this as resulting from an enhanced value proposition and cost containment. Shopping Centers Revenues increased 15.0% in COP and 8.6% in CLP compared to 2Q24. Higher contributions from variable rent due to new tenants who boosted sales was the main motivator for this. Adjusted EBITDA grew 7.8% in COP and 1.6% in CLP versus 2Q24, supported by revenue growth, partially offset by higher contributions. Financial Services Adjusted EBITDA posted a positive result, compared to a negative outcome in 2Q24. The year- over-year improvement was mainly due to an increase in the average loan portfolio balance, lower funding costs, and a reduction in risk charges , in a ddition to the implementation of further expense-control measures. 3.2.8 Tax Breakdown (11) (11) The income tax rates in each country where the Company operates are as follows: Chile: 27%. Argentina: 35%. Peru: 29.5%. Colombia: 35%. Brazil: 34%. United States: 21%. For further details on income tax expenses, refer to Note 26 of the Financial Statement s. CLP Million 2Q25 2Q24 6M25 6M24 Current tax expenses -33,090 -26,205 -84,108 -76,088 Adjustments to previous year tax expense 1,018 -2,586 - -2,679 Total current tax expenses -32,072 -28,791 -84,108 -78,767 Deferred tax -32,107 -19,980 -31,984 -81,644 Tax Expense (Income), reported -64,179 -48,771 -116,092 -160,411 (-) IAS 29 -13,837 -48,730 -40,162 -168,571 Tax expense (income), excl. IAS 29 -50,342 -41 -75,930 8,160
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Press Release – Second Quarter 2025 | 23 4 Consolidated Balance Sheet (12)(13) 4.1 Summary of Balance Sheet Assets As of June 30, 2025, Total Assets decreased by CLP 4 20,887 million (excluding the hyperinflation adjustment for Argentina) compared to December 2024, due to a reduction in Current Assets of CLP 556,488 million, partially offset by an increase in Non -Current Assets of CLP 135,601 million. • Current Assets decreased mainly due to a drop in Cash and cash equivalents, which declined by CLP 297,585 million ( -40.1% compared to December 2024), largely explained by the funds used for the acquisition of Makro, as well as investments and equipment purchases for ongoing store and shopping center projects. • The increase in Non-Current Assets is attributable to an increase in Property, Plant, and Equipment value of CLP 4 3,006 million and Investment Properties value of CLP 138,778 million. Investments related to business growth in the region partly explains this. Liabilities As of June 2025, Total Liabilities decreased by CLP 397,558 million (excluding IAS 29) compared to December 2024. This result is attributable to a reduction in Current Liabilities of CLP 389,204 million and in Non-Current Liabilities of CLP 8,354 million. • The decrease in Current Liabilities is explained by a reduction in Other accounts payable of CLP 256,148 million, due to lower trade payables compared to December 2024, largely reflecting seasonality with higher sales in December. Other financial liabilities have (12) The detailed Consolidated Balance Sheet is included in the appendices to this report. (13) For comparative purposes , and to analyze business performance, figures and explanations exclude the effect of the Argentine hyperinflationary standard (IAS 29). As Reported Excl. IAS 29 JUN 25 DEC 24 % JUN 25 DEC 24 % CLP MM CLP MM Current Assets 3,341,034 3,898,450 -14.3% 3,328,411 3,884,898 -14.3% Non-Current Assets, Total 11,444,792 11,423,626 0.2% 10,346,526 10,210,924 1.3% Total Assets 14,785,826 15,322,076 -3.5% 13,674,936 14,095,823 -3.0% Current Liabilities 3,859,267 4,248,607 -9.2% 3,858,393 4,247,597 -9.2% Non-Current Liabilities, Total 5,705,940 5,762,173 -1.0% 5,316,799 5,325,153 -0.2% Total Liabilities 9,565,206 10,010,780 -4.5% 9,175,192 9,572,750 -4.2% Controlling interest 4,578,423 4,679,049 -2.2% 3,857,547 3,890,826 -0.9% Non-controlling interest 642,197 632,247 1.6% 642,197 632,247 1.6% Total Net Equity 5,220,620 5,311,297 -1.7% 4,499,744 4,523,073 -0.5% Total Liabilities and Net Equity 14,785,826 15,322,076 -3.5% 13,674,936 14,095,823 -3.0%
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Press Release – Second Quarter 2025 | 24 decreased by CLP 86,093 million since December 2024 as a result of the refinancing of The Fresh Market’s debt, which shifted from semiannual maturities between 2025 and 2027 to a bullet maturity in 2030. • The increase in Non-Current Liabilities is primarily attributable to an increase in Deferred tax liabilities of CLP 67,895 million, partially offset by a decrease in Other financial liabilities of CLP 57,153 million due to the amortization of public debt obligations. Equity At the end of the period, Equity decreased by CLP 23,329 million because of a reduction in Retained earnings (losses) of CLP 123,411 million and Treasury shares of CLP 161,731 million, caused by the share repurchase executed in June. This was partially offset by an increase in Other reserves of CLP 253,099 million. Net Financial Debt Reconciliation CLP million Jun-25 Dec-24 Jun-24 Total Financial Liabilities 4,336,752 4,479,998 4,477,667 (-) Cash and Cash Equivalents 445,059 742,644 445,461 (-) Other Financial Assets (Current and Non-Current) 233,746 417,532 350,755 Net Financial Debt 3,657,947 3,319,822 3,681,451 (+) Total Lease Liabilities 1,228,848 1,259,766 1,208,336 Reported Net Financial Debt 4,886,795 4,579,588 4,889,787
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Press Release – Second Quarter 2025 | 25 5 Cash Flow Statement (14) 5.1 Accumulated to June 2025 and 2024 YTD 2025 | CLP Millions Net cash flow from operating activities Net cash flow used in investment activities Net cash flow from (used in) financing activities Supermarkets 260,206 -131,684 -334,085 Shopping Centers 154,515 -104,225 -81,216 Home Improvement 43,075 129,463 -149,494 Department Stores -29,110 -13,173 39,967 Financial Service -17,825 - 17,825 Others -200,120 -9,201 158,057 Excl. IAS29 210,740 -128,821 -348,945 IAS29 Adjustment Inflation Adjustment 8,425 -2,472 -3,728 Conversion Adjustment -11,361 3,301 5,089 As Reported 207,805 -127,991 -347,584 YTD 2024 | CLP Millions Net cash flow from operating activities Net cash flow used in investment activities Net cash flow from (used in) financing activities Supermarkets 282,172 -132,270 -284,980 Shopping Centers 129,279 -20,106 -69,004 Home Improvement 46,226 98,279 -139,612 Department Stores 16,068 -6,537 -9,381 Financial Service -22,682 - 22,682 Others -220,206 3,574 215,899 Excl. IAS29 230,857 -57,061 -264,396 IAS29 Adjustment Inflation Adjustment -18,307 52,054 -19,402 Conversion Adjustment 3,922 -9,195 3,002 As Reported 216,471 -14,202 -280,796 Operating Activities As of June 2025, cash flow from operating activities reached CLP 210,740 million (excluding IAS 29), compared to CLP 230,857 million as of June 2024. This decrease is mainly explained by lower cash flow from the Supermarkets business, particularly in Argentina and Brazil, and (14) The cash flow explanations do not consider the accounting effect of hyperinflation in Argentina.
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Press Release – Second Quarter 2025 | 26 Department Stores compared to 2024, partially offset by higher cash flow from Shopping Centers and Financial Services. Investment Activities Cash flow from investing activities totaled CLP -128,821 million (excluding IAS 29) in the accumulated cash flow as of June 2025, compared to CLP -57,061 million as of June 2024. This variation is explained by the funds used for the acquisition of Makro in Argentina during the first quarter. Additionally, Capex for the period was CLP 235,528 million (excluding M&A) versus CLP 207,489 million in the same period of the previous year. This reflects the acceleration of the store opening plan in the United States and the development of new Shopping Center projects in the region. Financing Activities Net cash flow used in financing activities was CLP -348,945 million as of June 2025 (excluding IAS 29), compared to CLP -264,396 million as of June 2024. This result reflects higher payments for the acquisition of Company shares and other cash outflows. 5.2 Cash Position Evolution 2025 (15) The cash position as of the end of June 2025 reached CLP 678,805 million, representing a 41.5% decrease compared to December 2024. This reduction is mainly explained by the CLP 235,528 million investment in Capex during the period, as well as the funds used for the acquisition of Makro in Argentina. This was partially offset by cash generation from operating activities amounting to CLP 207,805 million and proceeds of CLP 88,754 million from the sale of Bretas. (15) The cash position includes the assets deducted for the calculation of net leverage (cash + short - and long-term financial assets). Figures are in CLP million.
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Press Release – Second Quarter 2025 | 27 6 Business Management 6.1 Financial Ratios 6.1.1 Gross and Net Leverage CLP million Jun-25 Mar-25 Dec-24 Jun-24 Reported Net Financial Debt 4,886,795 4,846,260 4,568,252 4,889,787 Net Leverage 3.2x 3.1x 3.0x 3.4x Gross Leverage 3.6x 3.6x 3.7x 4.0x Excluding IAS 29 Net Leverage 3.2x 3.1x 2.9x 2.9x Gross Leverage 3.6x 3.7x 3.7x 3.4x Excluding IAS 29 and Put Option Net Leverage 3.0x 3.0x 2.8x 2.8x Gross Leverage 3.5x 3.5x 3.5x 3.3x 6.1.2 Debt Ratios (in times) Jun-25 Dec-24 Jun-24 Financial Expense Ratio 4.3 3.9 4.2 Net Financial Debt / Equity 0.7 0.6 0.7 Total Liabilities / Equity 1.8 1.9 2.0 Current Assets / Current Liabilities 0.9 0.9 0.8 6.2 Working Capital Inventory Turnover Average Collection Days Average Payment Days Variation in CLP 2Q25 2Q24 ∆ 2Q25 2Q24 ∆ 2Q25 2Q24 ∆ Supermarkets 42.1 40.4 1.7 11.0 11.6 -0.6 40.0 43.0 -3.0 Home Improvement 122.5 114.5 7.9 16.6 16.8 -0.2 42.0 48.0 -6.0 Department Store 103.4 93.3 10.0 6.8 8.5 -1.6 43.0 50.0 -7.0 Shopping Centers - - - 26.7 29.3 -2.6 30.0 30.0 0.0 Financial Retail - - - - - - 34.0 33.0 1.0
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Press Release – Second Quarter 2025 | 28 Inventory Days Supermarkets increased their inventory days by 1.7 days year -over-year, due to a generalized rise in inventory days across all countries except Colombia and the United States. In Home Improvement, inventory days rose by 7.9 days, driven by a regional incre ase in the number of SKUs as part of a strategy focused on greater assortment in certain categories. Department Stores registered a 10-day year-over-year increase, explained by a higher proportion of Private Label products with a longer sales cycle, as well as a higher inventory level following the Cyber Days events. Average Collection Days At the end of the second quarter, average collection days for Supermarkets and Home Improvement remained relatively stable compared to 2Q24. Department Stores reduced their average collection days by 1.6 days, driven by a 13% decrease in accounts receivable versus the end of 2Q24. Shopping Centers reduced their average collection days by 2.6 days, mainly credited to improved accounts receivable in Chile, partially offset by an increase in Peru. Average Payment Days As of June 2025, average payment days in Supermarkets decreased by 3.0 days, mainly motivated by shorter payment terms in Chile, Argentina, and Peru. Home Improvement recorded a reduction of 6.0 days, due to shorter payment terms in Argentina and Chile. Similarly, Department Stores decreased by 7.0 days. Shopping Centers maintained their average payment days compared to the same period last year, while Financial Services increased their average payment days by 1.0 day during the same period. 6.3 Risk Management 6.3.1 Interest Rate Risk At the end of June 2025, and considering Cross Currency Swap hedging, 75. 7% of the Company's financial debt was at a fixed rate, composed mainly of short -term obligations and bonds. The remaining percentage was subject to a variable interest rate. Of the variable -rate portion, 68.6% was indexed to local interest rates (either due to their initial terms or because of derivative agreements). The Company's hedging strategy includes a periodic review of its exposure to interest rate and exchange rate fluctuation risks. 6.3.2 Currency Hedging In the regions where Cencosud operates, most costs and revenues are in local currency. A large portion of the Company's debt is denominated or converted into CLP through Cross Currency Swaps. As of June 30, 2025, 67. 4% of total financial debt was in US dollars. Of this debt, 7 8.2% was hedged through Cross Currency Swaps or other currency hedges, such as net investment hedges and holdings in USD. The Company's policy seeks to mitigate the risk of currency fluctuations on net liabilities in foreign currencies, using market instruments designed for this purpose. With the effect of currency hedges (Cross Currency Swaps), the Company's exposure to the dollar was 14.7% of total gross debt as of June 30th, 2025.
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Press Release – Second Quarter 2025 | 29 6.3.3 General Risks Cencosud and its subsidiaries operate in a business environment that entails a series of inherent risks. In this regard, the Company maintains a Corporate Risk Management Policy, as well as a series of related procedures, such as Internal Audit manuals and methodological frameworks for the management and administration of all types of risks, including those related to economic, environm ental, and social aspects. The company's risk management structure is outlined by Cencosud's Board of Directors and is implemented at various levels of the organization. In this context, Cencosud has a Corporate Internal Audit, Internal Control, and Risk M anagement Department, which reports directly to the Board of Directors and supports Corporate General Management in its responsibility to promote the implementation and operation of the Risk Management model. It acts as a key element of the control environment within the Company's governance and planning structure. This has strengthened these practices, aligning them with global and local best practices, such as those suggested by the Dow Jones Sustainability Index (DJSI) and General Standard No. 461 of the Chilean Financial Market Commission (CMF). For more detailed information on Risk Management, the 2024 Integrated Annual Report can be found at the following link: https://www.cencosud.com/cencosud/site/docs/20250410/20250410124319/memoria_2024_c encosud.pdf
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Press Release – Second Quarter 2025 | 30 Appendix Second Quarter 2025
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Press Release – Second Quarter 2025 | 31 Index 1. Financial Information ......................................................................................................................... 32 Consolidated Income Statement Details................................................................................ 32 Adjusted EBITDA Calculation ........................................................................................................... 33 By Business Unit ........................................................................................................................................ 34 Consolidated Balance Sheet Details .......................................................................................... 35 Balance Sheet by Country .................................................................................................................. 36 Consolidated Cash Flow Details .................................................................................................... 37 Openings and Closures 6M25 by Country .............................................................................. 38 2. Business Performance ...................................................................................................................... 39 Supermarkets and Others ................................................................................................................... 39 3. Macroeconomic Indicators Exchange Rate .................................................................. 49 4. Glossary ....................................................................................................................................................... 50
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Press Release – Second Quarter 2025 | 32 1. Financial Information Consolidated Income Statement Details Second Quarter 2025 2Q25 2Q24 ∆ % Inflation effect Conversio n effect Inflation effect Conversion effect 2Q25 2Q24 ∆ % Asset revaluation 23,551 39,286 -40.1% 0 -152 0 517 23,704 38,769 -38.9% Deffered income taxes asset revaluation -6,811 -11,840 -42.5% 0 53 0 -181 -6,864 -11,659 -41.1% Net effect from asset revaluation 16,741 27,446 -39.0% 0 -99 0 336 16,840 27,110 -37.9% CLP Million As Reported IAS 29 (Jun-25) IAS 29 (Jun-24) Excl. IAS 29
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Press Release – Second Quarter 2025 | 33 Accumulated 2025 Adjusted EBITDA Calculation CLP Million 6M25 6M24 ∆ % Inflation effect Conversio n effect Inflation effect Conversio n effect 6M25 6M24 ∆ % Revenues 8,202,926 7,900,876 3.8% 91,139 -195,529 217,939 -70,823 8,307,316 7,753,761 7.1% Cost of Sales -5,764,305 -5,553,738 3.8% -83,518 135,910 -222,269 48,565 -5,816,697 -5,380,034 8.1% Gross Profit 2,438,621 2,347,138 3.9% 7,621 -59,619 -4,331 -22,258 2,490,619 2,373,727 4.9% Gross Margin 29.7% 29.7% 2 bps 8.4% 30.5% -2.0% 31.4% 30.0% 30.6% -63 bps Selling and administrtive expenses -2,004,754 -1,864,322 7.5% -53,411 52,020 -77,118 19,565 -2,003,362 -1,806,769 10.9% Other income by function 50,521 70,752 -28.6% 36 -929 84 487 51,414 70,182 -26.7% Other gain (losses) 37,409 -217 N.A 1,991 57 15,132 -402 35,362 -14,947 N.A. Operating income 521,798 553,351 -5.7% -43,764 -8,471 -66,232 -2,609 574,033 622,192 -7.7% Participation profit/loss of associates -5,945 -4,183 42.1% 0 0 0 0 -5,945 -4,183 42.1% Net financial income -173,935 -204,393 -14.9% 13,927 1,901 -25,192 2,819 -189,763 -182,020 4.3% Foreign exchange variations 42,668 -38,924 N.A. -632 -94 -2,141 822 43,395 -37,606 N.A. Result of indexation units -39,005 -36,263 7.6% -7,986 840 -4,111 -2,747 -31,859 -29,405 8.3% Non-operating income (loss) -176,217 -283,764 -37.9% 5,309 2,647 -31,444 894 -184,173 -253,214 -27.3% Income before taxes 345,581 269,587 28.2% -38,455 -5,824 -97,676 -1,715 389,860 368,978 5.7% Income taxes -116,092 -160,411 -27.6% -40,314 152 -173,393 4,822 -75,930 8,160 N.A. Profit (loss) 229,489 109,176 110.2% -78,769 -5,672 -271,069 3,108 313,930 377,138 -16.8% Profit (loss) from controlling shareholders 195,266 68,174 186.4% -78,770 -5,672 -271,086 3,108 279,708 336,153 -16.8% Profit (loss) from non-controlling shareholders 34,223 41,002 -16.5% 1 0 17 0 34,222 40,985 -16.5% Adjusted EBITDA 741,936 727,621 2.0% -13,594 -11,457 -47,043 -4,190 766,987 778,854 -1.5% Adjusted EBITDA margin 9.0% 9.2% -16 bps -14.9% 5.9% -21.6% 5.9% 9.2% 10.0% -81 bps Excl. IAS 29As Reported IAS 29 (Jun-25) IAS 29 (Jun-24) 6M25 6M24 ∆ % Inflation effect Conversio n effect Inflation effect Conversio n effect 6M25 6M24 ∆ % Asset revaluation 36,018 55,451 -35.0% 0 -893 0 517 36,911 54,934 -32.8% Deffered income taxes asset revaluation -10,560 -15,864 -33.4% 0 313 0 -181 -10,873 -15,683 -30.7% Net effect from asset revaluation 25,458 39,586 -35.7% 0 -580 0 336 26,038 39,250 -33.7% CLP Million As Reported IAS 29 (Jun-25) IAS 29 (Jun-24) Excl. IAS 29 CLP Million 2Q25 2Q24 % 6M25 6M24 % Profit (Loss) 136,081 206,892 -34.2% 313,930 377,138 -16.8% Net Financial Income 96,316 100,355 -4.0% 189,763 182,020 4.3% Result from Indexation Units 14,131 17,893 -21.0% 31,859 29,405 8.3% Foreign Exchange Variations -14,044 -27,589 -49.1% -43,395 37,606 N.A. Income Taxes 50,342 41 122688.3% 75,930 -8,160 N.A. Depreciation & Amortization 115,424 110,782 4.2% 235,811 215,779 9.3% Asset Revaluation -23,704 -38,769 -38.9% -36,911 -54,934 -32.8% Adjusted EBITDA 374,546 369,606 1.3% 766,987 778,854 -1.5%
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Press Release – Second Quarter 2025 | 34 By Business Unit 2Q25 SMKT SC HI DS FS Others TOTAL Net Income 196,086 96,564 20,801 13,868 9,996 -201,234 136,081 Net financial income - - - - - 96,316 96,316 Income Taxes - - - - - 50,342 50,342 EBIT 196,086 96,564 20,801 13,868 9,996 -54,576 282,739 Depreciation and Amortization 83,914 6,064 6,588 10,852 508 7,499 115,424 EBITDA 280,000 102,627 27,389 24,720 10,504 -47,077 398,163 Exchange Differences - - - - - -14,044 -14,044 Asset revaluation - -23,851 - - - 148 -23,704 Result from Indexation Units - - - - - 14,131 14,131 Adjusted EBITDA 280,000 78,776 27,389 24,720 10,504 -46,842 374,546 2Q24 SMKT SC HI DS FS Others TOTAL Net Income 208,016 104,775 18,853 10,198 15,790 -150,739 206,892 Net financial income - - - - - 100,355 100,355 Income Taxes - - - - - 41 41 EBIT 208,016 104,775 18,853 10,198 15,790 -50,343 307,288 Depreciation and Amortization 83,009 4,168 6,297 9,888 189 7,232 110,782 EBITDA 291,024 108,943 25,150 20,086 15,979 -43,111 418,070 Exchange Differences - - - - - -27,589 -27,589 Asset revaluation - -38,923 - - - 155 -38,769 Result from Indexation Units - - - - - 17,893 17,893 Adjusted EBITDA 291,024 70,019 25,150 20,086 15,979 -52,652 369,606 6M25 SMKT SC HI DS FS Others TOTAL Net Income 395,354 181,762 59,397 20,433 14,592 -357,607 313,930 Net financial income - - - - - 189,763 189,763 Income Taxes - - - - - 75,930 75,930 EBIT 395,354 181,762 59,397 20,433 14,592 -91,914 579,623 Depreciation and Amortization 166,610 10,235 13,341 21,960 1,003 22,662 235,811 EBITDA 561,963 191,997 72,737 42,393 15,594 -69,252 815,434 Exchange Differences - - - - - -43,395 -43,395 Asset revaluation - -37,209 - - - 298 -36,911 Result from Indexation Units - - - - - 31,859 31,859 Adjusted EBITDA 561,963 154,788 72,737 42,393 15,594 -80,489 766,987 6M24 SMKT SC HI DS FS Others TOTAL Net Income 471,440 179,754 76,753 11,854 30,463 -393,126 377,138 Net financial income - - - - - 182,020 182,020 Income Taxes - - - - - -8,160 -8,160 EBIT 471,440 179,754 76,753 11,854 30,463 -219,266 550,998 Depreciation and Amortization 162,175 7,666 12,446 19,493 275 13,724 215,779 EBITDA 633,616 187,419 89,199 31,348 30,738 -205,542 766,777 Exchange Differences - - - - - 37,606 37,606 Asset revaluation - -55,261 - - - 327 -54,934 Result from Indexation Units - - - - - 29,405 29,405 Adjusted EBITDA 633,616 132,158 89,199 31,348 30,738 -138,204 778,854
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Press Release – Second Quarter 2025 | 35 Consolidated Balance Sheet Details JUN 25 DEC 24 JUN 25 DEC 24 JUN 25 DEC 24 Cash and cash equivalents 445,059 742,644 - - 445,059 742,644 Other financial assets, current 32,063 180,668 - - 32,063 180,668 Other non-financial assets, current 57,403 39,235 1,312 423 56,092 38,812 Trade receivables and other receivables 889,362 1,030,564 - - 889,362 1,030,564 Receivables from related entities, current 12,468 21,430 - - 12,468 21,430 Inventory 1,734,143 1,646,822 11,312 13,129 1,722,831 1,633,694 Current tax assets 99,458 75,384 - - 99,458 75,384 Non-current assets held for sale 71,079 161,702 - - 71,079 161,702 TOTAL CURRENT ASSETS 3,341,034 3,898,450 12,624 13,552 3,328,411 3,884,898 Other financial assets, non-current 201,683 236,864 - - 201,683 236,864 Other non-financial assets, non-current 29,840 29,434 1,203 1,461 28,637 27,973 Trade receivable and other receivables, non 2,496 971 - - 2,496 971 Equity method investment 339,626 333,364 - - 339,626 333,364 Intangible assets other than goodwill 841,775 857,293 9,872 12,252 831,903 845,040 Goodwill 1,915,942 1,917,682 21,183 17,104 1,894,759 1,900,578 Property, plant and equipment 4,097,075 4,123,631 676,376 745,938 3,420,699 3,377,693 Investment property 3,641,145 3,548,680 389,633 435,946 3,251,512 3,112,734 Current Tax assets, non-current 55,975 52,236 - - 55,975 52,236 Deferred income tax assets 319,235 323,471 - - 319,235 323,471 TOTAL NON-CURRENT ASSETS 11,444,792 11,423,626 1,098,266 1,212,702 10,346,526 10,210,924 TOTAL ASSETS 14,785,826 15,322,076 1,110,890 1,226,253 13,674,936 14,095,823 CLP millionAssets As reported IAS29 Excl. IAS29 CLP million CLP million JUN 25 DEC 24 JUN 25 DEC 24 JUN 25 DEC 24 Other financial liabilities, current 384,650 470,743 - - 384,650 470,743 Leasing Liabilities, current 205,149 200,592 - - 205,149 200,592 Trade payables and other payables 2,907,419 3,163,703 873 1,010 2,906,546 3,162,694 Payables to related entities, current 17,117 19,104 - - 17,117 19,104 Provisions and other liabilities 20,382 21,701 - - 20,382 21,701 Current income tax liabilities 41,085 44,704 - - 41,085 44,704 Current provision for employee benefits 153,126 173,226 - - 153,126 173,226 Other non-financial liabilities, current 82,840 70,807 - - 82,840 70,807 Liabilities for assets held for sale 47,498 84,027 - - 47,498 84,027 TOTAL CURRENT LIABILITIES 3,859,267 4,248,607 873 1,010 3,858,393 4,247,597 Other financial liabilities, non-current 3,952,102 4,009,255 - - 3,952,102 4,009,255 Leasing Liabilities, non-current 1,011,103 1,026,884 - - 1,011,103 1,026,884 Trade accounts payable, non-current 3,623 4,291 - - 3,623 4,291 Other provisions, non-current 64,458 59,650 20,936 19,467 43,522 40,183 Deferred income tax liabilities 618,729 600,181 368,205 417,553 250,523 182,628 Provision for employee benefits, non-current 6,502 14,004 - - 6,502 14,004 Current taxes liabilities, non-current 1,337 2,031 - - 1,337 2,031 Other non-financial liabilities, non-current 48,086 45,877 - - 48,086 45,877 TOTAL NON-CURRENT LIABILITIES 5,705,940 5,762,173 389,141 437,020 5,316,799 5,325,153 TOTAL LIABILITIES 9,565,206 10,010,780 390,014 438,030 9,175,192 9,572,750 Paid-in Capital 2,343,320 2,343,320 - - 2,343,320 2,343,320 Retained earnings (accumulated losses) 2,462,232 2,318,984 -55,843 -322,502 2,518,074 2,641,485 Issuance premium 457,665 458,902 - - 457,665 458,902 Treasury stock -161,831 -101 - - -161,831 -101 Other reserves -522,962 -442,055 776,719 1,110,725 -1,299,681 -1,552,780 Net equity attributable to controlling shareholders4,578,423 4,679,049 720,876 788,224 3,857,547 3,890,826 Non-controlling interest 642,197 632,247 - - 642,197 632,247 TOTAL NET EQUITY 5,220,620 5,311,297 720,876 788,224 4,499,744 4,523,073 TOTAL LIABILITIES AND NET EQUITY 14,785,826 15,322,076 1,110,890 1,226,253 13,674,936 14,095,823 Liabilities CLP million CLP million CLP million As reported IAS29 Excl. IAS29
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Press Release – Second Quarter 2025 | 36 Balance Sheet by Country JUN 25 DEC 24 % JUN 25 DEC 24 % JUN 25 DEC 24 % Chile 6,465,813 6,593,242 -1.9% 6,253,771 6,472,455 -3.4% 1,239,048 1,233,329 0.5% Argentina 2,162,640 2,305,014 -6.2% 904,515 970,744 -6.8% 1,340,245 1,419,213 -5.6% United States 1,798,035 1,939,057 -7.3% 1,052,652 1,162,657 -9.5% 73,951 64,235 15.1% Brazil 1,131,867 1,168,016 -3.1% 641,216 606,869 5.7% 482,057 505,765 -4.7% Peru 1,639,401 1,702,651 -3.7% 430,322 499,052 -13.8% 986,416 989,454 -0.3% Colombia 1,491,543 1,518,714 -1.8% 273,406 289,923 -5.7% 997,553 1,017,513 -2.0% Uruguay 96,526 95,382 1.2% 9,325 9,081 2.7% 101,349 81,788 23.9% Total 14,785,826 15,322,076 -3.5% 9,565,206 10,010,780 -4.5% 5,220,620 5,311,297 -1.7% IAS 29 1,110,890 1,226,253 -9.4% 390,014 438,030 -11.0% 720,876 788,224 -8.5% Excl. IAS 29 13,674,936 14,095,823 -3.0% 9,175,192 9,572,750 -4.2% 4,499,744 4,523,073 -0.5% Total Assets Total Liabilities Total Net Equity
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Press Release – Second Quarter 2025 | 37 Consolidated Cash Flow Details Cash flows from operating activities Jun 25 Jun 24 Collections from sales of goods and provision of services 9,784,924 9,613,489 Other charges for operating activities 17,198 18,852 Payments to suppliers for the supply of goods and services -8,009,455 -7,837,349 Payments to and on behalf of employees -1,142,956 -1,118,704 Other payments for operating activities -333,371 -371,066 Income taxes paid (refunded) -111,285 -88,081 Other cash inflows (outflows) 2,749 -670 Cash flows from operating activities 207,805 216,471 Cash flows from investing activities Jun 25 Jun 24 Cash flows used to obtain control of subsidiaries or other businesses -131,685 - Amounts from sales of property, plant and equipment 323 2,023 Purchases of property, plant and equipment -216,588 -167,340 Purchases of intangible assets -18,940 -40,149 Dividends received 4,843 17,388 Interest received 18,951 75,329 Other cash inflows (outflows) 215,104 98,547 Cash flows from investing activities -127,991 -14,202 Cash flows from financing activities Jun 25 Jun 24 Payments for acquiring or redeeming the entity's shares -29,460 -2,084 Amounts from long-term loans - 881,951 Amounts from short-term loans 797,412 148,019 Loan repayments -763,957 -1,000,888 Lease liability payments -139,568 -134,314 Dividends paid -41,941 -58,922 Interest paid -104,010 -103,804 Other cash inflows (outflows) -66,061 -10,752 Cash flows from financing activities -347,584 -280,796 Increase (decrease) in cash and cash equivalents, before the effect of changes in the exchange rate -267,771 -78,527 Effects of changes in the exchange rate on cash and cash equivalents -29,814 40,862 Increase (decrease) in cash and cash equivalents -297,585 -37,664 Cash and cash equivalents at the beginning of the period 742,644 483,126 Cash and cash equivalents at the end of the period 445,059 445,461
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Press Release – Second Quarter 2025 | 38 Openings and Closures 6M25 by Country Openings Remodelings Closures 6M25 # sqm # # sqm Chile - - 7 2 597 Argentina 1 1,766 24 - - USA 6 8,554 - 1 1,301 Brazil 1 4,147 - 6 7,042 Peru - - - 1 1,171 Colombia 1 1,204 12 - - Total 9 15,671 43 10 10,111
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Press Release – Second Quarter 2025 | 39 2. Business Performance Supermarkets and Others Income Statement 2Q25 2Q24 6M25 6M24 ∆ % ∆ LC % ∆ % ∆ LC % Chile 1,244,453 1,200,287 3.7% 3.7% 2,466,509 2,395,275 3.0% 3.0% Argentina 629,190 461,376 36.4% 75.4% 1,240,749 896,674 38.4% 75.7% USA 523,149 473,805 10.4% 9.0% 1,061,367 963,588 10.1% 8.4% Brazil 393,492 462,865 -15.0% -8.6% 760,143 943,918 -19.5% -10.0% Peru 313,792 290,701 7.9% 4.1% 632,859 595,436 6.3% 2.7% Colombia 217,232 218,429 -0.5% 5.2% 431,322 445,453 -3.2% 2.4% Revenues 3,321,308 3,107,463 6.9% N.A. 6,592,950 6,240,343 5.7% N.A. Chile 348,138 340,464 2.3% 2.3% 685,647 669,275 2.4% 2.4% Argentina 173,810 131,034 32.6% 70.8% 340,491 292,269 16.5% 48.6% USA 199,285 183,203 8.8% 7.4% 403,377 373,924 7.9% 6.2% Brazil 81,780 90,779 -9.9% -2.9% 154,979 188,420 -17.7% -8.0% Peru 77,473 70,957 9.2% 5.3% 156,372 144,814 8.0% 4.4% Colombia 44,980 43,438 3.5% 9.6% 91,019 90,993 0.0% 5.9% Gross Profit 925,466 859,875 7.6% N.A. 1,831,885 1,759,695 4.1% N.A. SG&A -732,125 -654,856 11.8% N.A. -1,441,443 -1,292,920 11.5% N.A. Operating Profit 196,116 208,060 -5.7% N.A. 395,423 472,661 -16.3% N.A. Adjusted EBITDA 280,000 291,024 -3.8% N.A. 561,963 633,616 -11.3% N.A. Adj. EBITDA Margin 8.4% 9.4% 8.5% 10.2% Supermarkets Var. vs 2024 Var. vs 2024 CLP MM CLP MM -93 bps -163 bps
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Press Release – Second Quarter 2025 | 40 Supermarkets and Others Operational Data (16) (16) During 2Q24, the sqm of common areas and sales floor space in stores were reviewed, resulting in an adjustment to the sales area in Chile and the United States. This adjustment excludes, for example, the surface area associated with Darkstores. 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 Chile 250 251 66.4% 66.3% 614,429 617,948 Argentina 279 275 55.9% 55.3% 429,762 422,255 USA 172 162 100.0% 100.0% 214,857 202,430 Brazil 134 157 92.5% 93.0% 306,033 361,468 Peru 69 71 59.4% 60.6% 211,177 214,086 Colombia 79 79 19.0% 19.0% 339,709 353,917 Total 983 995 68.6% 68.8% 2,115,965 2,172,104 Supermarkets N° of Stores % Leased Selling Space (sqm) 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 Argentina 28 N.A. 15.1% N.A. 138,036 N.A. Brazil 49 57 89.8% 91.2% 168,424 184,563 Peru 18 18 27.8% 27.8% 43,629 43,629 Total 95 75 56.0% 76.0% 350,089 228,192 Cash&Carry N° of Stores % Leased Selling Space (sqm) 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 Chile 37 36 97.3% 97.2% 6,516 6,349 Brazil 7 10 100.0% 100.0% 864 1,253 Colombia 13 13 100% 100% 1,776 1,776 Total 57 59 98.2% 98.3% 9,157 9,379 Convenience N° of Stores % Leased Selling Space (sqm) 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 Brazil 147 149 94.6% 94.6% 17,569 17,863 Colombia 37 37 8.1% 8.1% 18,490 18,490 Total 184 186 77.2% 77.4% 36,059 36,353 Others N° of Stores % Leased Selling Space (sqm)
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Press Release – Second Quarter 2025 | 41 Supermarkets and Others Same Store Sales (17) Supermarkets Online Sales Evolution (Variation in Local Currency) (17) Total Supermarkets SSS does not include Makro and Basualdo stores, and the Cash & Carry SSS in Argentina is included for reference purposes only. 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 Chile 2.6% -0.7% 1.0% 0.4% 1.6% -1.1% Argentina 37.8% 256.2% -15.8% -4.2% 56.4% 271.9% USA 2.8% -2.1% -0.4% -0.6% 3.2% -1.5% Brazil -5.2% -0.5% -6.5% -1.5% 1.4% 1.1% Peru 2.8% -4.5% 0.5% 1.8% 2.3% -6.1% Colombia 5.2% -8.1% -5.7% -7.0% 11.6% -1.2% Total Supermarkets SSS SS Tickets Average Tickets 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 Chile 2.5% -0.7% 0.4% 0.3% 2.1% -1.1% Argentina 37.8% 256.2% -4.8% -4.2% 44.8% 271.9% USA 2.8% -2.1% -0.4% -0.6% 3.2% -1.5% Brazil -2.9% -1.2% -5.4% -1.5% 2.6% 0.3% Peru 3.2% -4.6% 0.6% 2.1% 2.6% -6.6% Colombia 5.4% -8.1% -5.3% -7.1% 11.2% -1.1% Average TicketsSupermarkets SSS SS Tickets 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 Argentina 10.9% N.A. -16.0% N.A. 31.9% N.A. Brazil -9.2% 0.7% -10.8% -2.5% 1.7% 3.3% Peru 0.8% -3.6% -0.3% -1.0% 1.1% -2.6% SS Tickets Average TicketsCash&Carry SSS 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 Chile 14.9% 54.0% 32.0% 16.0% -13.0% 32.7% Brazil 41.4% 22.2% 15.7% 29.6% 22.2% -5.7% Colombia -23.1% -8.7% -18.4% -4.4% -5.8% -4.5% Convenience SSS SS Tickets Average Tickets 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 Brazil 3.3% 2.9% -10.1% 1.4% 14.9% 1.5% Colombia 6.2% 10.6% -17.3% 26.6% 28.4% -12.6% Others SSS SS Tickets Average Tickets Supermarkets 6M25 2Q24 1Q25 12M24 4Q24 3Q24 2Q24 1Q24 Chile 10.7% 10.1% 11.5% 5.1% 8.2% 4.4% 2.7% 5.0% Argentina 35.5% 38.7% 31.9% 136.6% 63.7% 171.5% 219.4% 198.8% USA 26.2% 24.8% 27.5% 30.6% 23.8% 34.7% 31.6% 34.1% Brazil -13.7% -9.1% -18.2% 22.7% 1.6% -0.6% 39.4% 71.5% Peru 37.4% 35.5% 39.4% 7.0% 21.6% 12.9% 3.9% 3.7% Colombia 9.8% 5.9% 13.9% -29.3% 1.0% -17.7% -15.7% -51.9%
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Press Release – Second Quarter 2025 | 42 Home Improvement Income Statement Home Improvement Operational Data Home Improvement Same Store Sales Home Improvement Online Sales Evolution (Variation in Local Currency) 2Q25 2Q24 6M25 6M24 ∆ % ∆ LC % ∆ % ∆ LC % Chile 195,202 189,836 2.8% 2.8% 404,669 383,130 5.6% 5.6% Argentina 180,649 160,402 12.6% 44.7% 384,565 313,355 22.7% 54.7% Colombia 18,778 19,476 -3.6% 2.1% 38,969 41,127 -5.2% 0.3% Revenues 394,629 369,714 6.7% N.A. 828,203 737,612 12.3% N.A. Chile 51,735 51,336 0.8% 0.8% 111,593 109,111 2.3% 2.3% Argentina 70,687 60,842 16.2% 49.4% 148,770 148,491 0.2% 27.2% Colombia 4,205 3,708 13.4% 20.3% 8,948 7,729 15.8% 22.9% Gross Profit 126,627 115,886 9.3% N.A. 269,311 265,331 1.5% N.A. SG&A -105,958 -97,051 9.2% N.A. -210,416 -188,649 11.5% N.A. Operating Profit 20,801 18,853 10.3% N.A. 59,397 76,753 -22.6% N.A. Adjusted EBITDA 27,389 25,150 8.9% N.A. 72,737 89,199 -18.5% N.A. Mg Adj. EBITDA 6.9% 6.8% 8.8% 12.1% Home Improvement Var. vs 2024 Var. vs 2024 CLP MM CLP MM -331 bps14 bps 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 Chile 41 41 14.6% 14.6% 350,395 350,395 Argentina 60 60 23.3% 23.3% 385,455 385,455 Colombia 16 16 6.3% 6.3% 87,731 91,865 Total 117 117 17.9% 17.9% 823,581 827,715 % LeasedN° of Stores Selling Space (sqm) Home Improvement 6M25 2Q24 1Q25 12M24 4Q24 3Q24 2Q24 1Q24 Chile 4.1% 1.2% 8.1% -2.2% -7.8% 0.1% 1.5% -0.9% Argentina 3.5% 8.5% -1.7% 138.2% 61.8% 159.9% 181.2% 364.9% Colombia 18.2% 7.0% 29.2% 26.2% 24.9% 26.4% 42.9% 14.7%
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Press Release – Second Quarter 2025 | 43 Department Stores Income Statement Department Stores Operational Data Department Stores Same Store Sales Department Stores Online Sales Evolution (Variation in Local Currency) 2Q25 2Q24 6M25 6M24 ∆ % ∆ LC % ∆ % ∆ LC % Chile 304,067 285,895 6.4% 6.4% 600,757 539,519 11.4% 11.4% Revenues 304,067 285,895 6.4% 6.4% 600,757 539,519 11.4% 11.4% Chile 87,585 80,150 9.3% 9.3% 168,369 148,268 13.6% 13.6% Gross Profit 87,585 80,150 9.3% 9.3% 168,369 148,268 13.6% 13.6% SG&A -78,782 -75,143 4.8% 4.8% -156,929 -145,522 7.8% 7.8% Operating Profit 13,868 10,198 36.0% 36.0% 20,433 11,854 72.4% 72.4% Adjusted EBITDA 24,720 20,086 23.1% 23.1% 42,393 31,348 35.2% 35.2% Mg Adj. EBITDA 8.1% 7.0% 7.1% 5.8%110 bps 125 bps Department Stores Var. vs 2024 Var. vs 2024 CLP MM CLP MM 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 Chile 48 48 62.5% 62.2% 269,843 274,487 N° of Stores % Leased Selling Space (sqm) 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 Chile 9.9% 12.8% 2.1% 9.7% 7.6% -1.4% SSS SS Tickets Average Tickets Department Stores 6M25 2Q24 1Q25 12M24 4Q24 3Q24 2Q24 1Q24 Chile -0.5% 0.5% -1.9% 2.8% 2.8% -4.2% 5.4% 5.8%
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Press Release – Second Quarter 2025 | 44 Shopping Centers Income Statement 2Q25 2Q24 6M25 6M24 ∆ % ∆ LC % ∆ % ∆ LC % Chile 64,506 59,516 8.4% 8.4% 128,190 117,169 9.4% 9.4% Argentina 24,093 18,230 32.2% 70.0% 45,736 32,417 41.1% 78.6% Peru 7,652 7,463 2.5% -1.1% 15,516 14,758 5.1% 1.5% Colombia 3,177 2,926 8.6% 15.0% 6,425 6,017 6.8% 13.1% Revenues 99,428 88,134 12.8% N.A. 195,868 170,361 15.0% N.A. Chile 60,485 55,901 8.2% 8.2% 120,822 109,763 10.1% 10.1% Argentina 19,368 14,848 30.4% 67.6% 36,731 26,228 40.0% 77.1% Peru 6,030 6,030 0.0% -3.6% 12,112 11,833 2.4% -1.3% Colombia 3,073 2,774 10.8% 17.3% 6,193 5,738 7.9% 14.3% Gross Profit 88,956 79,552 11.8% N.A. 175,858 153,562 14.5% N.A. SG&A -16,245 -13,768 18.0% N.A. -31,307 -29,137 7.4% N.A. Operating Profit 96,564 104,775 -7.8% N.A. 181,762 179,754 1.1% N.A. Adjusted EBITDA 78,776 70,019 12.5% N.A. 154,788 132,158 17.1% N.A. Mg Adj. EBITDA 79.2% 79.4% 79.0% 77.6%-22 bps 145 bps Shopping Centers Var. vs 2024 Var. vs 2024 CLP MM CLP MM
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Press Release – Second Quarter 2025 | 45 Shopping Centers Operational Data N° of Shopping Centers Selling Space (sqm) Occupancy Rate 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 Cenco Malls 33 33 1,186,833 1,181,626 99.3% 98.8% Towers N.A. N.A. 90,000 65,000 73.0% 78.1% Non-IPO Locations 2 2 18,970 18,939 95.5% 95.5% Chile 35 35 1,295,803 1,265,565 97.4% 97.6% Cenco Malls 3 3 59,564 60,512 89.0% 89.6% Non-IPO Locations 3 3 92,865 92,865 96.4% 96.7% Peru 6 6 152,429 153,377 93.5% 93.9% Cenco Malls 4 4 63,257 62,813 92.6% 92.2% Non-IPO Locations N.A. N.A. 46,176 46,176 N.A. N.A. Colombia 4 4 109,433 108,989 92.6% 92.2% Argentina 22 22 745,356 745,356 92.6% 91.4% Shopping Centers 67 67 2,303,020 2,273,287 95.4% 95.1% Operational Data by Country Chile 2Q25 2Q24 Var% 2Q25 2Q24 Var% 2Q25 2Q24 Var% 2Q25 2Q24 Var% Portal Talcahuano 1,439 1,408 2.2% 6,210 6,210 0.0% 7,649 7,618 0.4% N.A. N.A. N.A. Portal Valdivia 3,704 3,704 0.0% 7,617 7,617 0.0% 11,321 11,321 0.0% N.A. N.A. N.A. Trascaja N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. Cenco Malls 437,606 433,918 0.8% 814,227 812,708 0.2% 1,251,833 1,246,626 0.4% 30,352 30,208 0.5% TOTAL CHILE 442,749 439,030 0.8% 828,054 826,535 0.2% 1,270,803 1,265,565 0.4% 30,352 30,208 0.5% 2Q25 2Q24 Var% 2Q25 2Q24 Var% 2Q25 2Q24 Var% 2Q25 2Q24 Var% Portal Talcahuano 947 765 23.8% 4,834 4,694 3.0% 5,781 5,460 5.9% 144 154 -6.4% Portal Valdivia 2,336 2,513 -7.0% 9,870 9,624 2.6% 12,206 9,624 26.8% 240 293 -18.3% Trascaja N.A N.A. N.A. N.A N.A. N.A. N.A. N.A. N.A. 7,401 7,331 1.0% Cenco Malls 410,775 385,664 6.5% 737,264 701,951 5.0% 1,148,038 1,087,615 5.6% 56,721 51,737 9.6% TOTAL CHILE 414,058 388,943 6.5% 751,968 716,269 5.0% 1,166,026 1,102,699 5.7% 64,506 59,516 8.4% Visits (Thousand) 3rd Parties Sales (CLP million) Related Parties Sales (CLP million) Sales (CLP million) 3P Revenues (CLP million) GLA Third Parties GLA Related Parties GLA TOTAL
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Press Release – Second Quarter 2025 | 46 Argentina Peru 2Q25 2Q24 Var% 2Q25 2Q24 Var% 2Q25 2Q24 Var% 2Q25 2Q24 Var% Unicenter 77,085 77,085 0.0% 18,901 18,901 0.0% 95,986 95,986 0.0% 3,820 3,632 5.2% Portal Plaza Oeste 19,906 19,906 0.0% 22,612 22,612 0.0% 42,518 42,518 0.0% 1,166 1,168 -0.1% Portal Palmas del Pliar 37,416 37,416 0.0% 37,005 37,005 0.0% 74,421 74,421 0.0% 1,526 1,523 0.2% Portal Rosario 40,182 40,182 0.0% 29,298 29,298 0.0% 69,480 69,480 0.0% 741 778 -4.7% Portal Patagonia 9,789 9,789 0.0% 28,134 28,134 0.0% 37,922 37,922 0.0% 920 908 1.4% Portal Lomas 8,201 8,201 0.0% 27,353 27,353 0.0% 35,554 35,554 0.0% 881 918 -4.1% Portal Tucuman 10,371 10,371 0.0% 21,439 21,439 0.0% 31,810 31,810 0.0% 789 777 1.6% Portal Escobar 4,410 4,410 0.0% 29,607 29,607 0.0% 34,016 34,016 0.0% N.A. N.A. N.A. Portal los Andes 3,390 3,390 0.0% 29,456 29,456 0.0% 32,846 32,846 0.0% N.A. N.A. N.A. Portal Trelew 7,213 7,213 0.0% 15,682 15,682 0.0% 22,895 22,895 0.0% N.A. N.A. N.A. Portal Salta 5,635 5,635 0.0% 18,464 18,464 0.0% 24,099 24,099 0.0% 524 544 -3.8% Portal Santiago Del Estero 5,461 5,461 0.0% 11,737 11,737 0.0% 17,198 17,198 0.0% N.A. N.A. N.A. Power Center / Others 50,447 50,447 0.0% 176,164 176,164 0.0% 226,611 226,611 0.0% 1,274 1,320 0.6% TOTAL ARGENTINA 279,505 279,505 0.0% 465,851 465,851 0.0% 745,356 745,356 0.0% 11,641 11,567 0.6% GLA Third Parties GLA Related Parties GLA TOTAL Visits (Thousand) 2Q25 2Q24 Var% 2Q25 2Q24 Var% 2Q25 2Q24 Var% 2Q25 2Q24 Var% Unicenter 156,291 109,012 43.4% 15,805 15,805 45.5% 179,293 124,817 43.6% 12,984 7,877 64.8% Portal Plaza Oeste 32,729 21,058 55.4% 9,054 6,326 43.1% 41,782 27,384 52.6% 2,506 1,476 69.8% Portal Palmas del Pliar 32,396 22,161 46.2% 27,734 19,196 44.5% 60,130 41,357 45.4% 3,074 1,652 86.0% Portal Rosario 18,929 12,476 51.7% 10,203 7,305 39.7% 29,132 19,781 47.3% 855 517 65.5% Portal Patagonia 22,363 16,054 39.3% 25,547 15,754 62.2% 47,909 31,808 50.6% 1,675 1,067 56.9% Portal Lomas 10,322 7,476 38.1% 13,287 9,614 38.2% 23,609 17,090 38.1% 767 466 64.8% Portal Tucuman 16,445 10,889 51.0% 11,314 7,615 48.6% 27,759 18,504 50.0% 1,289 761 69.5% Portal Escobar 4,423 2,754 60.6% 15,407 11,346 35.8% 19,830 14,100 40.6% 276 168 64.1% Portal los Andes 7,448 5,481 35.9% 14,508 10,521 37.9% 21,956 16,002 37.2% 401 226 77.9% Portal Trelew 7,526 4,539 65.8% 5,559 3,794 46.5% 13,085 8,333 57.0% 446 204 118.4% Portal Salta 6,556 4,668 40.5% 11,152 7,932 40.6% 17,708 12,599 40.5% 600 363 65.4% Portal Santiago Del Estero 4,611 2,776 66.1% 7,685 5,104 50.6% 12,296 7,880 56.0% 292 175 67.3% Power Center / Others 55,786 36,982 50.8% 99,961 70,119 42.6% 155,747 107,101 45.4% 4,166 2,305 80.8% TOTAL ARGENTINA 375,825 256,326 46.6% 274,414 190,432 44.1% 650,239 446,757 45.5% 29,331 17,255 70.0% 3P Revenues (ARS million)Related Parties Sales (ARS million) Sales (ARS million)3rd Parties Sales (ARS million) 2Q25 2Q24 Var% 2Q25 2Q24 Var% 2Q25 2Q24 Var% Plaza Lima Sur 43,634 43,634 0.0% 32,263 32,263 0.0% 75,897 75,897 0.0% Balta 1,031 1,031 0.0% 6,050 6,050 0.0% 7,081 7,081 0.0% Plaza Camacho 9,451 9,451 0.0% 436 436 0.0% 9,887 9,887 0.0% Trascaja N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. Cenco Malls 34,874 34,677 0.6% 24,690 25,835 -4.4% 59,564 60,512 -1.6% TOTAL PERU 88,990 88,793 0.2% 63,439 64,584 -1.8% 152,429 153,377 -0.6% 2Q25 2Q24 Var% 2Q25 2Q24 Var% 2Q25 2Q24 Var% Plaza Lima Sur 2,396 2,496 -4.0% 98 94 4.0% 8.2 8.3 -0.6% Balta N.A. N.A. N.A. 27 27 -1.4% 0.7 0.8 -5.4% Plaza Camacho N.A. N.A. N.A. 4 4 1.5% 0.8 0.7 13.8% Trascaja N.A. N.A. N.A. N.A. N.A. N.A. 15.0 14.9 0.6% Cenco Malls 1,031 1,003 2.7% 107 103 4.1% 4.8 5.2 -8.4% TOTAL PERU 3,427 3,499 -2.0% 236 229 3.4% 30 30 -1.1% GLA Third Parties Sales (PEN million)Visits (Thousand) 3P Revenues (PEN million) GLA Related Parties GLA TOTAL
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Press Release – Second Quarter 2025 | 47 Colombia Financial Services Income Statement 2Q25 2Q24 Var% 2Q25 2Q24 Var% 2Q25 2Q24 Var% Trascaja 46,176 46,176 0.0% N.A. N.A. N.A. 46,176 46,176 0.0% Cenco Malls 12,674 12,562 0.9% 50,583 50,251 0.7% 63,257 62,813 0.7% TOTAL COLOMBIA 58,850 58,738 0.2% 50,583 50,251 0.7% 109,433 108,989 0.4% 2Q25 2Q24 Var% 2Q25 2Q24 Var% 2Q25 2Q24 Var% Trascaja N.A. N.A. N.A. N.A. N.A. N.A. 12,535 10,346 21.2% Cenco Malls 341 253 34.8% 89,231 80,048 11.5% 1,484 1,840 -19.3% TOTAL COLOMBIA 341 253 34.8% 89,231 80,048 11.5% 14,019 12,186 15.0% Visits (Thousand) Sales (COP million) GLA Third Parties 3P Revenues (COP million) GLA Related Parties GLA TOTAL 2Q25 2Q24 6M25 6M24 ∆ % ∆ LC % ∆ % ∆ LC % Argentina 36,557 32,073 14.0% 46.8% 71,886 59,427 21.0% 53.1% Brazil - 399 N.A. N.A. - 660 N.A. N.A. Colombia 912 -1,294 -170.5% -174.0% 1,497 -944 -258.7% -264.6% Revenues 37,469 31,179 20.2% N.A. 73,383 59,144 24.1% N.A Argentina 16,732 22,827 -26.7% -5.4% 33,497 43,291 -22.6% -2.0% Brazil - 399 N.A. N.A. - 660 N.A. N.A. Colombia 912 -1,294 -170.5% -174.0% 1,497 -944 -258.7% -264.6% Gross Profit 17,644 21,933 -19.6% N.A. 34,994 43,008 -18.6% N.A. SG&A -7,203 -5,121 40.7% N.A. -14,523 -9,581 51.6% N.A. Operating Profit 10,438 16,812 -37.9% N.A. 20,468 33,427 -38.8% N.A. Participation in associates -442 -1,022 -56.8% N.A. -5,876 -2,963 98.3% N.A. Dep & Amortizations 508 189 168.6% N.A. 1,003 275 265.0% N.A. Adjusted EBITDA 10,504 15,979 -34.3% N.A. 15,594 30,738 -49.3% N.A. Adj. EBITDA mg. 28.0% 51.2% 21.3% 52.0%-2322 bps -3072 bps Financial Services Var. vs 2024 Var. vs 2024 CLP MM CLP MM
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Press Release – Second Quarter 2025 | 48 Financial Indicators (18) (18) Financial indicators for Brazil are not included due to the termination of the Joint Venture agreement with Bradesco. CHILE 2Q25 1Q25 4Q24 3Q24 2Q24 1Q24 Net Loan Portfolio (CLP million) 2,057,749 1,996,518 1,988,618 1,883,802 1,885,441 1,852,253 Provisions over expired portfolio 2.5 2.4 2.2 2.1 2.2 2.0 Debt balance >90 (%) 4.4% 4.5% 4.3% 4.5% 4.4% 4.9% Gross Write-offs (CLP million) 118,949 56,878 208,869 152,445 100,501 45,581 Recoveries (CLP million) 11,361 5,496 20,283 15,533 10,631 4,874 Net Write-offs (CLP million) 107,589 51,381 188,586 136,912 89,870 40,708 Anualized Net Write-offs / Average balance period (%) 10.7% 10.3% 10.0% 9.8% 9.7% 8.8% Renegotiated portfolio (%) 22.6% 23.5% 23.6% 24.9% 24.3% 23.5% % of Sales w/Credit Cards over Total Sales Supermarkets 6.2% 6.1% 6.4% 6.4% 6.4% 6.1% Department Stores 26.1% 18.9% 25.8% 23.1% 27.5% 24.6% Home Improvement 10.0% 9.2% 10.8% 9.2% 9.0% 8.9% ARGENTINA 2Q25 1Q25 4Q24 3Q24 2Q24 1Q24 Net Loan Portfolio (ARS thousand) 273,799,198 226,708,069 211,048,286 178,694,706 174,829,198 135,619,456 Provisions over expired portfolio 1.2 1.2 1.4 1.4 1.8 2.1 Debt balance >90 (%) 5.1% 5.2% 3.8% 4.2% 2.6% 2.0% Gross Write-offs (ARS thousand) 16,322,409 6,915,545 14,418,157 8,505,749 4,071,395 1,686,161 Recoveries (ARS thousand) 2,274,887 1,243,527 3,097,933 2,124,117 1,010,390 417,509 Net Write-offs (ARS thousand) 14,047,522 5,672,018 11,320,224 6,381,632 3,061,005 1,268,651 Anualized Net Write-offs / Average period balance (%) 11.7% 10.3% 7.2% 5.9% 4.7% 4.7% Renegotiated portfolio (%) 4.0% 4.2% 3.5% 3.9% 2.6% 1.8% % of Sales w/Credit Cards over Total Sales Supermarkets 8.0% 8.3% 8.3% 8.3% 8.8% 8.3% Home Improvement 21.4% 22.0% 21.0% 21.7% 21.2% 19.0% PERU 2Q25 1Q25 4Q24 3Q24 2Q24 1Q24 Net Loan Portfolio (PEN thousand) 491,392 501,981 506,032 488,851 514,873 520,587 Provisions over expired portfolio 1.8 1.9 1.9 1.9 1.8 2.0 Debt balance >90 (%) 3.5% 3.4% 3.6% 4.2% 5.1% 4.4% Gross Write-offs (PEN thousand) 37,810 19,201 100,833 80,197 51,592 25,609 Recoveries (PEN thousand) 7,180 3,926 14,540 10,839 6,542 3,186 Net Write-offs (PEN thousand) 30,630 15,275 86,294 69,359 45,050 22,423 Anualized Net Write-offs / Average period balance (%) 12.3% 12.2% 17.0% 18.0% 17.3% 17.1% Renegotiated portfolio (%) 3.9% 3.9% 4.3% 4.7% 4.5% 4.0% % of Sales w/Credit Cards over Total Sales Supermarkets 8.8% 8.9% 9.4% 9.6% 9.7% 9.8% COLOMBIA 2Q25 1Q25 4Q24 3Q24 2Q24 1Q24 Net Loan Portfolio (COP million) 1,192,076 1,109,192 888,429 934,400 983,381 984,930 Provisions over expired portfolio 2.5 2.5 2.1 1.9 1.9 2.1 Debt balance >90 (%) 2.8% 2.9% 3.4% 4.2% 4.2% 3.7% Gross Write-offs (COP million) 66,299 34,848 40,775 41,719 71,780 34,247 Recoveries (COP million) 5,160 2,743 2,405 2,033 3,854 2,003 Net Write-offs (COP million) 61,139 32,105 38,370 39,686 67,925 32,243 Anualized Net Write-offs / Average period balance (%) 10.8% 11.5% 4.3% 5.6% 13.7% 13.0% Renegotiated portfolio (%) 3.6% 4.4% 6.0% 6.8% 6.9% 6.9% % of Sales w/Credit Cards over Total Sales Supermarkets 16.7% 16.8% 18.5% 19.6% 20.3% 19.7% Home Improvement 13.6% 13.7% 12.9% 13.1% 13.7% 13.0%
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Press Release – Second Quarter 2025 | 49 3. Macroeconomic Indicators Exchange Rate Total and Food Inflation Total Food and Non-Alcoholic Drinks Country 2Q25 2Q24 2Q25 2Q24 Chile 4.1% 4.2% 2.3% 4.8% Argentina 39.4% 271.5% 32.3% 285.1% USA 2.7% 3.0% 3.0% 2.2% Brazil 5.4% 4.2% 6.7% 4.7% Peru 2.0% 1.4% 2.0% 1.4% Colombia 4.8% 7.2% 4.3% 5.3% 2Q25 2Q24 % change 2Q25 2Q24 % change Jun 25 Jun 24 % change CLP/USD 953.07 981.71 -2.9% 963.31 946.45 1.8% 947.95 873.57 8.5% CLP/ARS 0.77 1.14 -32.5% 0.91 1.14 -19.6% 0.98 2.42 -59.4% CLP/BRL 166.56 196.21 -15.1% 164.65 191.22 -13.9% 169.29 177.05 -4.4% CLP/PEN 259.52 264.47 -1.9% 260.32 251.93 3.3% 253.61 234.25 8.3% CLP/COP 0.23 0.25 -8.0% 0.23 0.24 -5.5% 0.23 0.21 7.4% CLP/URU 22.64 26.28 -13.9% 22.40 24.37 -8.1% 23.09 22.60 2.1% End of Period Average LTM
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Press Release – Second Quarter 2025 | 50 4. Glossary ARS: Argentine Peso BRL: Brazilian real Inflation Adjustment: IAS 29 accounting standard that considers the Hyperinflation Adjustment in Argentina Cash & Carry: wholesale/retail supermarket stores CLP: Chilean Peso Convenience: convenience or proximity stores, branded as SPID COP: Colombian Peso Gross Financial Debt (GFD): other current and non-current financial liabilities + financial and non-financial lease liabilities Net Financial Debt (NFD): other current and non-current financial liabilities + financial and non-financial lease liabilities – cash and cash equivalents – current and non -current financial assets Inventory Days: 365 days / Cost of Sales LTM / Inventory Average Collection Days: Accounts Receivable / Revenue * tax (19%) * 365 days Adjusted EBITDA: Operating Result – Share in profit (loss) of associates – Asset revaluation + Depreciation and Amortization EDS: Service Stations Related Companies: related companies GLA (Gross Leasable Area): gross leasable area, the square meters of space available for lease IAS 29: Accounting standard that describes the financial reporting treatment in countries experiencing hyperinflation. IFRS 16: Financial/accounting standard that regulates the accounting treatment of operating leases by recognizing them as assets rather than operating expenses. Gross Leverage: gross financial debt / Adjusted EBITDA, excluding one -offs for the period Net Leverage: net financial debt / Adjusted EBITDA, excluding one-offs for the period LTM (Last Twelve Months): last twelve months EBITDA Margin: equivalent to Adjusted EBITDA margin HI: Home Improvement MM: millions LC (Local Currency): considers the currency of the country analyzed PEN: Peruvian Sol Online Penetration: includes the entire online channel, both own and last milers Reported: results including the inflation adjustment in Argentina Financial Services: Financial Services SMKT: Supermarkets SSS (Same Store Sales): sales from the same physical stores in both periods, which were open at least 2/3 of the quarter. Excludes remodels, closures, or store openings SS Tickets: the number of times a customer purchases in-store. Corresponds to the same stores open in both periods Occupancy Rates: occupied square meters of premises over the total square meters of premises available for lease TFM: The Fresh Market DS: Department Stores UF: unit of account ing in Chile, indexed for inflation USD: United States Dollars
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| 2 Press Release - Segundo trimestre 2025