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cencosud 2Q26 EARNINGS PRESENTATION August 2026 JUMBO 5 años
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION 2 The information presented in this presentation has been prepared solely by Cencosud S.A. ("Cencosud") for informational purposes only. It does not constitute, and should not be construed as a recommendation, an invitation or offer to buy or sell any securities of Cencosud or any of its subsidiaries in any jurisdiction, nor as investment advice of any kind. No warranty, whether explicit or implicit, is provided as to the accuracy, completeness, or reliability of the information contained herein. The views and information expressed in this document are subject to change without notice, and Cencosud undertakes no obligation to update or keep such information current. It should be noted that the content of this presentation is not intended to be exhaustive. Cencosud, its affiliates, directors, partners, and employees disclaim any and all liability for any loss or damage arising from the use of this material, in whole or in part. This presentation contains statements that could constitute forward-looking statements. These statements use words, and variations thereof, such as the future tense verbs generally, "plan", "intend", "expect", "anticipate", "estimate", "maintain", "project", "continue", "reduce" and "grow". These statements appear in a number of places in this presentation and include statements regarding the intent, belief or current expectations of Cencosud and its management with respect to, among other things: (1) Cencosud’s strategic objectives and business plans; and (2) trends and developments affecting Cencosud’s financial condition, results of operations or cash flows. Forward-looking statements reflect only our current expectations, are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of various factors. These factors include the company's ability to successfully execute its planned projects and strategic plans, the possibility that expected benefits and opportunities may not materialize in the expected timeframe or at all, as well as risks related to the political and economic scenario; financial and market risks and other factors described in Cencosud’s Annual Report. Readers are cautioned not to place undue reliance on those forward-looking statements, which state only as of their dates. Cencosud undertakes no obligation to release publicly the result of any revisions to these forward-looking statements, except as required by law. Certain financial and operational information contained herein may be preliminary and subject to change. Figures included in this presentation may be rounded; therefore, totals may not add up precisely. Forward-Looking Statement
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Quarter Highlights 01
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2Q26 Highlights: Significant Progress in Executing Our Omnichannel Strategy Significant milestone of our omnichannel ecosystem, driven by strong digital adoption and growing customer loyalty across the region +14.6% Online sales growth YoY 31 M Active Loyalty Customers +31.3% YoY Prime members Expansion of our regional portfolio, supported by strategic acquisitions, store transformations, and new store openings across the region 32 St. Marché Stores Brazil 28 Stores remodeled / converted 7 New stores opened in Chile Performance reflected a more moderate consumer environment, while underlying profitability remained resilient despite temporary productivity-related costs CLP 4,115 Bn Consolidated revenue (-1.2% YoY) CLP 329 Bn Adjusted EBITDA (8.0% margin) Operational execution continued to strengthen profitability across the region, with material profitability improvements in Colombia, Brazil and Argentina’s supermarkets +80.0% Colombia Adj. EBITDA YoY (LC) +105.7% Argentina Supermarkets Adj. EBITDA (LC) +8.1% Brazil Adj. EBITDA, ex- Bretas MG divestment (LC) 20 Stores Makro Colombia LC – Local Currency; YoY – Year-over-Year 1 . 1 · Q U A R T E R H I G H L I G H T S
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION E-Commerce Important Progress in E-Commerce and Loyalty Programs +14.6% Online Sales (YoY) CLP 480 Bn 12.2% Online Penetration (+165 bps YoY) 8.9 M Online Transactions (+14.5% YoY) DIGITAL HIGHLIGHTS Cyber Event in Chile delivered double-digit growth across all business units Paris Marketplace in Chile sales increased +33.2% YoY Continued enhancement of the omnichannel customer experience +31.3% YoY Prime Members Club Easy Pro members LOYALTY HIGHLIGHTS Continued expansion of the Prime ecosystem across the region Higher customer spend and engagement Loyalty remains a key driver of the Company's omnichannel strategy Chile +37.5% YoY Prime Subscriber Growth Peru +40.9% YoY Prime Subscriber Growth +22k New Loyalty Program Loyalty DOUBLE -DIGIT GROWTH IN 5 OF 6 MARKETS (LC) Chile +11.9% YoY United States +18.6% YoY Argentina +80.1% YoY Peru +18.0% YoY Colombia +22.1% YoY FASTEST -GROWING LOYALTY PROGRAMS 1 . 2 · Q U A R T E R H I G H L I G H T S 31 M Active Loyalty Customers 5
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION Private Label Momentum Continues Across the Region Argentina (+223 bps) and Brazil (+70 bps) led expansion. Non-Food penetration reached 24.6% PRIVATE LABEL PENETRATION BY COUNTRY Food Non-Food Total 2Q26 2Q25 2Q26 2Q25 2Q26 2Q25 Chile 13.4% 13.4% 28.4% 27.7% 18.2% 18.0% Argentina 18.3% 17.6% 23.8% 18.3% 20.0% 17.8% USA 29.2% 30.8% 0.6% 0.8% 27.8% 29.4% Brazil 11.9% 10.8% 1.9% 3.7% 10.6% 9.9% Peru 15.8% 15.9% 40.1% 40.1% 19.4% 19.5% Colombia 12.7% 12.5% 8.8% 8.6% 11.4% 11.3% TOTAL 17.0% 16.9% 24.6% 23.2% 18.9% 18.5% Consolidated sales in USD at 2Q26 average exchange rates. Consolidated Private Label Revenues 788 USD MM Supermarkets Non-Food Penetration 24.8% Supermarkets Food Penetration 14.6% Consolidated Private Label Penetration 18.9% 6 1. 3 · Q U A R T E R H I G H L I G H T S
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION “One Cencosud” Building the capabilities, scale and operating model required to accelerate long-term value creation Focus on Executing Our Strategy to Become the Leading Omnichannel Multi-Format Retailer Cross-Platform Technology, data and AI capabilities built once and deployed across the region — leveraging scale, reducing duplication and improving productivity Omnichannel Ecosystem Seamless customer experience across brands, formats and channels Agility & Execution Faster decision-making and reduced time-to-market Talent & Expertise World-class capabilities supported by a single regional team, with greater scope for professional development Building the region's leading omnichannel retail ecosystem by delivering extraordinary customer experiences, strengthening our brands and creating sustainable long-term value 7 1 . 4 · Q U A R T E R H I G H L I G H T S
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION Geographic & Strategic Rationale St Marché - Brazil 8 32 Stores Sao Paulo Brazil’s Largest Consumer Market ~USD 216 MM LTM Mar-26 Sales | 8 DIVESTED IN MINAS GERAIS (54 Bretas Stores) ~30% OF BRAZIL’S GDP ~44 MILLION POPULATION (20%+ of Brazil) BRAZIL LARGEST CONSUMER MARKET Campinas Santos STATE OF SÃO PAULO City São Paulo St Marche Emporio Santa María CD St Marche ACQUIRED IN SAO PAULO PREMIUM SUPERMARKET Asset Highlights 1 . 5 · Q U A R T E R H I G H L I G H T S
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION Makro - Colombia 9 ~0.3x EV/Sales ~USD 158 MM Enterprise Value1 20 Cash & Carry Stores (18 with owned real estate) ~USD 480 MM Sales (2025A) | 9 ACQUISITION MAKRO (20 Makro Stores) Barranquilla (3 stores) Medellin (2 stores) Cali (2 stores) Bogota (4 stores) Financially Sustainable Growth • 20 stores (73k sqm of selling area) • 18 stores owned Real Estate Potential • ~96,000 m2 of white space • Optionality to complement with existing formats Capture the Horeca Customer • Makro is the 2nd largest Cash&Carry Horeca B2B customer in Colombia Private Label Leverage • Penetration ~24% • 1,380 SKUs 1 2 3 4 1Purchase price is subject to closing adjustments customary for this type of transactions. Geographic & Strategic RationaleAsset Highlights 1 . 6 · Q U A R T E R H I G H L I G H T S
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02 Financial Results
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION -3.6% Revenue Growing 4.5% Excluding FX and Portfolio Actions Figures exclude the impact of Argentina's hyperinflation accounting adjustment under IAS 29. Reported Revenue decreased 1.8% YoY in 2Q26 and 0.8% YoY in 6M26. 11 REVENUES (CLP billion) ▲ Revenue growth reflected above-inflation performance in Peru and resilient local currency growth across Chile, Argentina, the US and Colombia, despite a challenging consumer environment. ▲ Online sales increased 14.6% YoY, reaching 12.2% of consolidated revenues, supported by double-digit growth in five of six countries and the continued expansion of the Prime loyalty program. ▲ Shopping Centers business continued to deliver strong growth across the region. ▼ Foreign exchange headwinds, particularly in Argentina and the U.S., negatively impacted reported revenues in CLP. ▼ Portfolio actions weighed on revenues with ongoing renovations in Brazil, shopping centers and department stores, coupled with high comparison base from the sale of Bretas stores and divestment of service stations and the closure of SPID in Colombia. ▼ Demanding comparisons in Chile Department Stores and the slower recovery of Argentina's Home Improvement business offset revenue growth. Offset by Highlights ONLINE SALES PRIVATE LABEL SALES +14.6% YoY +4.9% PERU REVENUES LC +6.4% YoY SHOPPING CENTERS REVENUES +9.6% YoY 150 79 177 2Q25 FX Divestments & Closures 2Q25 LFL Sales Growth 2Q26 4,167 3,938 4,115 -1.2% +4.5% -1.9% 2 . 1 · F I N A N C I A L R E S U L T S
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION 375 32948 2Q25 11 FX Δ Chile 13 Δ Other Countries 2Q26 -12.3% Adjusted EBITDA Reflects Profitability Improvements Across Most Markets Despite FX and Temporary Headwinds in Chile Figures exclude IAS 29. Reported Adjusted EBITDA in 2Q26 decreased 20.5% YoY (Adj. EBITDA Margin contracted 167 bps) and 15.9% YoY in 6M26 (Adj. EBITDA Margin contracted 137 bps). ▲ Strong EBITDA growth in Peru (+11.5% LC) and Colombia (+80.0% LC), SM Argentina and SM Brazil, supported by operational efficiencies and improved commercial execution. SM Chile maintained double-digit EBITDA margin despite inflationary pressure and elevated promotional activity. ▲ Brazil Supermarkets maintained a positive profitability trend, reflecting ongoing portfolio optimization and strategic transformation initiatives. ▲ Shopping Centers continued delivering solid profitability, supported by revenue growth and operating leverage across key markets. ▼ Inflationary pressures in Chile, particularly in logistics and distribution, together with elevated promotional activity and a higher online sales mix in Chile, weighing on gross margin and SG&A. ▼ Deterioration of the Financial Services loan portfolio in Argentina, reflecting an industry-wide trend, with 2Q26 expected to be the last quarter of significant impact. 12 Offset by Highlights EBITDA Margin 9.0% EBITDA Margin 8.0% COLOMBIA Adj. EBITDA LC YoY SM BRAZIL Adj. EBITDA LC YoY +80.0% +8.1%PERU Adj. EBITDA MARGIN 12.4%SM ARGENTINA Adj. EBITDA LC YoY +105.7% ADJUSTED EBITDA (CLP billion) SM CHILE Adj. EBITDA MARGIN 10.5% 2 . 2 · F I N A N C I A L R E S U L T S
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION Chile - Accelerating Omnichannel Ecosystem Across All Formats Supermarkets +13.6% Online sales YoY 16.4% Online penetration (+191 bps) +100 bps Market share QoQ Key developments Don Salva opened 3 hard discount stores, and Santa Isabel entered Chiloé and Calbuco with 4 stores. Opened new Jumbo in Santiago in Aug-26. Home Improvement +22.8% Online sales YoY 16.9% Online penetration (+1,192 bps) +8.6% B2B sales YoY Key developments Club Easy Pro, launched Jun-26, reached 22K members focusing on Pro & B2B customers. Department Stores 34.2% Online penetration (+288 bps) +33.2% Marketplace sales YoY +16.5% Cyber event sales YoY Key developments Showcasing our next-generation department store in Cenco Alto Las Condes, reopened in Aug-26. 13 2 . 3 · F I N A N C I A L R E S U L T S
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION Net Income Impacted by Non-Operational Effects including Inflation-Indexed Bond Adjustments, Asset Revaluation and FX Distributable Net Income serves as the basis for calculating dividend payment. All figures in CLP millions unless otherwise noted. 14 Net Income -18,074 103,047 DISTRIBUTABLE NET INCOME (CLP million) 2Q26 2Q25 Net Effect from Asset Revaluation 1,898 16,745 Minority Interest 18,381 16,556 Distributable Net Income -38,353 69,750 CLP 5,610 million 6M26 Distributable Net Income ▼ Higher Chilean UF indexation during the quarter (+2.44% QoQ) increased non-cash finance costs through the inflation adjustment of UF-indexed debt principal. ▼ Asset Revaluation driven by higher comparison base in 2Q25. ▼ Foreign Exchange Difference between 2Q26 vs 2Q25. ▼ Productivity Plan of approximately CLP 17 billion. Adj. EBITDA Subtotal D&A, Tax, Hyperinflation and Others Bond UF Adjustments 2Q26Productivity Plan -17.038 Gain (losses) from FX -19.104 Asset Revaluation 103.047 -57.922 45.125 36.116 -41.012 -22.161 -18.074 2Q25 -56,2% CLP -63.199 M NET INCOME (CLP million) 2 . 4 · F I N A N C I A L R E S U L T S Non -Operational Effects
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION Leverage Reflects Higher UF Indexation and Hyperinflation Adjustments NET LEVERAGE (x) Net Leverage: (Financial Debt + Lease Liabilities – Cash & Financial Assets) / EBITDA LTM Jun-26 Cash position includes Cash and cash equivalents + short- and long-term financial assets . 15 2Q26 Excl. IAS 29: 3.4x CASH POSITION USD 820 million As of June 30, 2026 YoY Net Leverage Variation is explained by: ▪ Net Financial Debt increased by 1.2% YoY, mainly due to indexation units. ▪ LTM Adjusted EBITDA decreased 13.2% YoY. 2Q23 2Q24 2Q25 2Q26 3.3 3.4 3.2 3.6 2 . 5 · F I N A N C I A L R E S U L T S
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION Ticker2 Type Currency Amount (million) Interest Tenor (years) Spread (bps) BCENC-V Local UF 7.0 UF + 2.75% 7 75 BCENC-X Local UF 5.5 UF + 2.99% 29 79 144A/Reg S Internacional USD 500 USD + 5.86% 10 157 BCSSA-H Local UF 2.5 UF + 3.08% 30 63 Liability Management Completed during 2Q26 Strengthened Debt Maturity Profile Successful April bond issuances extended maturities and improved amortization schedule AMORTIZATION PROFILE (x) USD million 16 29 45 244 818 617 650 199 310 500 243 2026 2027 2028 2029 2030 2031 2032 2033 2036 111 2041-2055 310 500 1,457 1,103 Apr 26 Bonds Issuance Cencosud Adjusted EBITDA LTM USD 1,516 million1 1 LTM Adj. EBITDA. Exchange rate as of June 30, 2026: USD 1 = CLP 922.2. 2 April 2026 bonds issuances. Debt by Instrument as of June 30, 2026 Apr 26 Bond Issuance Cenco Malls 63.8% Bonds 17.1%Bank Loans 18.5% Leases 0.5% Others LIABILITY MANAGEMENT 2027 144A USD 950 million 2 . 6 · F I N A N C I A L R E S U L T S
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Results by Country 03
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION Chile: Advancing Omnichannel Growth Across Formats CONSOLIDATED REVENUES (CLP million) ✓ Supermarkets led revenue growth, with +13.6% e-commerce sales, +9.9% online tickets, and ~100 bps market share recovery. ✓ Home Improvement and Department Stores strengthened performance, with +22.8% online sales and +8.6% wholesale growth at Easy, while Marketplace sales grew 33.2% and Department Stores continued to improve sequentially. ✓ Shopping Centers delivered +8.5% revenue growth, supported by ~32k sqm of additional GLA and higher occupancy, despite renovations in flagship malls (~1/3 of revenues) 18 2Q25 2Q26 1,815,747 1,818,005 +0.1% 2Q25 2Q26 210,120 162,062 -22.9% ADJUSTED EBITDA (CLP million) ✓ Supermarkets maintained a double-digit EBITDA margin of 10.5%, demonstrating resilience despite a challenging operating environment. ✓ Retail margins were impacted by higher logistics, marketing and advertising expenses, increased promotional activity, and a higher online sales mix. ✓ Cenco Malls partially offset retail pressures, expanding its EBITDA margin by 40 bps to 80.7%. 3 . 1 · R E S U L T S B Y C O U N T R Y · C H I L E +13.6% SM ONLINE SALES YoY 18.2% PRIVATE LABEL PENETRATION 10.5% SM ADJ. EBITDA MARGIN +9.1% SC ADJ. EBITDA EBITDA Margin 11.6% EBITDA Margin 8.9% REVENUE DRIVERS PROFITABILITY DRIVERS
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION 19 Chile: Focus on Strengthening Omnichannel Ecosystem UN CÍRCULO QUE TE PREMIA CROSS PLATFORM CAMPAIGN CYBER EVENT SANTA ISABEL OPENINGS IN CHILOÉ DON SALVA OPENINGS NEW FORMAT Participants ~1,000,000 Tickets redeemed 3.7 million 36 million Tickets issued Clients 518,000 Online visits 26 million (+11.8% YoY) +793,000 (+23.8% YoY) Number of tickets New Santa Isabel in Chiloé 4 Selling area ~3,200 sqm ~184,000 Chiloé’s Population New Stores 3 Selling area ~500 m2 40 stores by year-end Expected openings 3 . 2 · R E S U L T S B Y C O U N T R Y · C H I L E
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION Argentina: Supermarkets and Shopping Centers Drove Performance Despite Soft Consumer Demand 20 CONSOLIDATED REVENUES (CLP million) ✓ Supermarkets led growth (+27.3% revenue LC), +90.4% online sales, market share gains, and continued private label and imported products penetration. ✓ Shopping Centers delivered strong performance, with +31.6% revenue (ARS), supported by new international brands and improved lease conditions ✓ Home Improvement online sales increased +59.7% despite a challenging construction environment. ✓ Consolidated revenues increased 23.2% in LC, while declining 4.2% in CLP.2Q25 2Q26 871,963 835,327 -4.2% 2Q25 2Q26 49,858 46,245 -7.2% ADJUSTED EBITDA (CLP million) ✓ Supermarkets led EBITDA growth, with +105.7% in LC and +201 bps margin expansion, reflecting Makro synergies and continued cost efficiencies. ✓ Shopping Centers remained a solid contributor, while Home Improvement and Financial Services weighed on profitability. ✓ Consolidated EBITDA reflected higher Financial Services provisions, resulting in a 7.2% decrease in CLP (19.3% increase in LC), with the credit-related impact expected to normalize after 2Q26. 3 . 3 · R E S U L T S B Y C O U N T R Y · A R G E N T I N A +90.4% SM ONLINE SALES +201 bps SM ADJ. EBITDA MARGIN 4.9% ONLINE PENETRATION EBITDA Margin 5.7% EBITDA Margin 5.5% PROFITABILITY DRIVERS REVENUE DRIVERS
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION Argentina: Several Initiatives Aimed at Improve Growth and Profitability UNICENTER PRIVATE LABELS DIGITAL 21 CAPEX ~USD 60 MM New stores 85 Consolidated Penetration 20.0% 14 New Private Label Food SKUs Online Sales Growth LC YoY 80.1% Online Market Share YoY +100 bps 7.3% HI Online Penetration New GLA ~16,900 m2 3 . 4 · R E S U L T S B Y C O U N T R Y · A R G E N T I N A
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION 22 United States: Resilient Sales and Profitability with E-commerce Momentum CONSOLIDATED REVENUES (CLP million) ✓ Revenue growth 1.9% in local currency and decreased 3.4% in CLP YoY, reflecting the impact of unfavorable FX translation. ✓ Growth was primarily supported by strong e-commerce momentum (+18.6% YoY), complemented by the contribution from stores opened over the last 12 months. 2Q25 2Q26 523,149 505,555 -3.4% 2Q25 2Q26 50,353 47,741 -5.2% ADJUSTED EBITDA (CLP million) ✓ Adjusted EBITDA increased 0.2% in USD and decreased 5.2% in CLP YoY, mainly due to unfavorable FX translation. ✓ Stable margins supported by sales growth, disciplined cost management, and lower pre-opening expenses, as no new stores were opened during the period. ✓ Inflationary pressures, particularly due to higher fuel costs, were largely offset by operating efficiencies. 3 . 5 · R E S U L T S B Y C O U N T R Y · U N I T E D S T A T E S +18.6% SM ONLINE SALES 9.6% ONLINE PENETRATION EBITDA Margin 9.6% EBITDA Margin 9.4% PROFITABILITY DRIVERS REVENUE DRIVERS
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION United States: Building Distinctive Value Proposition for Our Customers DRIVING CUSTOMER VALUE TFM REWARDS TFM NEW INITIATIVES (1) Sales Per Labor Hour (2) On Shelf Availability 23 Active Loyalty Customers +10.9% 27.8% Private Label Penetration Online Penetration 9.6% Online Transactions 750.000 +18.6% Online Sales Growth in LC YoY Partnership Since Jun-26 Too Good to Go SPLH1 Improvement YoY +3.8% +110 bps Improvement OSA2 3 . 6 · R E S U L T S B Y C O U N T R Y · U N I T E D S T A T E S
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION 24 Peru: Accelerating Profitable Growth Across Businesses with Margin Expansion CONSOLIDATED REVENUES (CLP million) ✓ Supermarkets led growth with +6.2% revenue (PEN), +18.0% e-commerce sales, and +6.0% SSS, driven by Metro, Metro Almacén and Wong, while expanding Private Label penetration. ✓ Shopping Centers delivered strong performance, with +9.4% revenue (PEN), supported by new store openings at Cenco La Molina. 2Q25 2Q26 322,250 347,350 +7.8% 2Q25 2Q26 38,155 43,073 +12.9% ADJUSTED EBITDA (CLP million) ✓ Adjusted EBITDA increased 11.5% in local currency and 12.9% in CLP, supported by higher commercial margins and disciplined operating expense management. ✓ Cost growth remained below revenue growth, helping offset higher logistics costs and strengthen profitability. ✓ Shopping Centers continued to support earnings growth, driven by the ongoing maturation of Cenco La Molina and solid operating performance. 3 . 7 · R E S U L T S B Y C O U N T R Y · P E R U +18.0% PEN SM ONLINE SALES 7.8% ONLINE PENETRATION 19.4% PRIVATE LABEL PENETRATION EBITDA Margin 11.8% EBITDA Margin 12.4% PROFITABILITY DRIVERS REVENUE DRIVERS
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION Peru: Driving Growth Through Digital and Real Estate DIGITAL CENCO LA MOLINA PRIVATE LABEL (1) Sales Per Labor Hour 25 Wong Prime Customers YoY +40.5% Cyber Sales Growth YoY +42% +18.0% E-commerce Growth YoY +13k sqm in Occupied GLA 84% Visits YoY +56.8% +103.0% CLP Revenues YoY Private Label Penetration 19.4% New Private Label Food SKU +50 +30 Cuisine & Co Display Spaces 3 . 8 · R E S U L T S B Y C O U N T R Y · P E R U
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION 26 Brazil: Portfolio Optimization and Multiple Initiatives Driving Margin Improvement CONSOLIDATED REVENUES (CLP million) ✓ Revenues decreased 18.1% in BRL and 12.6% in CLP, impacted by portfolio optimization actions and ongoing store renovations. ✓ Renovated and converted stores are delivering high-single-digit sales growth, validating the transformation strategy. ✓ Transformation accelerated, with 19 store renovations, the Bretas Goiás conversion to Prezunic, Perini store-in-store expansion, and the continued evolution of the GIGA format.2Q25 2Q26 393,492 344,096 -12.6% 2Q25 2Q26 20,923 19,211 -8.2% ADJUSTED EBITDA (CLP million) ✓ Excluding the Bretas one-off gain in 2Q25, Adjusted EBITDA increased 8.1% in BRL and 15.1% in CLP, with EBITDA margin expanding 103 bps, reflecting continued operational improvements. ✓ The ongoing transformation plan and sustained operational efficiencies continued to strengthen underlying profitability. ✓ Reported Adjusted EBITDA decreased 13.8% in BRL and 8.2% in CLP, mainly due to the one-off gain recognized from the Bretas transaction in 2Q25. 3 . 9 · R E S U L T S B Y C O U N T R Y · B R A Z I L +8.1% SM ADJ. EBITDA GROWTH YOY 10.6% PRIVATE LABEL 19 RENOVATED STORES EBITDA Margin 5.3% EBITDA Margin 5.6% PROFITABILITY DRIVERS REVENUE DRIVERS
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION 27 Brazil: Portfolio Transformation with Improved Positioning Bretas a Prezunic PRIVATE LABEL Gbarbosa renovations 13 Prezunic renovations 6 Private Label Penetration 10.6% New Food SKUs 11 store-in-store Perini format in Gbarbosa Gbarbosa Transformation Bretas Go to Prezunic conversions 2 3 . 1 0 · R E S U L T S B Y C O U N T R Y · B R A Z I L
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION 28 Colombia: Delivering Strong Profitability Improvement CONSOLIDATED REVENUES (CLP million) ✓ Revenues remained stable in local currency and increased 10.3% in CLP, as solid performance across the core businesses offset the impact of the service station divestment and Spid store closures. ✓ Supermarkets and Home Improvement delivered resilient growth, supported by +22.1% and +48.8% online sales, respectively, while Home Improvement revenues increased 7.4% (COP). ✓ Shopping Centers revenue grew 65.2% (COP), driven by the consolidation of Plaza Central and strong underlying operating performance.2Q25 2Q26 239,908 264,551 +10.3% 2Q25 2Q26 5,138 10,279 +100.1% ADJUSTED EBITDA (CLP million) ✓ Adjusted EBITDA increased 80.0% in local currency and 100.1% in CLP, with EBITDA margin expanding 171 bps. ✓ Supermarkets and Home Improvement continued to improve profitability, supported by stronger commercial execution, while Plaza Central contributed to Shopping Centers. ✓ Operating expenses grew below inflation, reflecting continued progress in the efficiency agenda and the recovery of the Colombian operation. 3 . 1 1 · R E S U L T S B Y C O U N T R Y · C O L O M B I A 11.6% PRIVATE LABEL PENETRATION 10.6% SAME -STORE SALES IN HI +48.8% HI ONLINE SALES EBITDA Margin 2.1% EBITDA Margin 3.9% PROFITABILITY DRIVERS REVENUE DRIVERS
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION Colombia: Strengthening Our Market Position and Value Proposition PRIVATE LABEL 29 New Food SKU 40 Private Label Penetration 11.4% 6.0% Import Penetration PORTFOLIO OPTIMIZATION METRO TO METRO ALMACEN DIGITAL HI Online Penetration 8.6% (+230 bps) SM Online Penetration 6.4% (+88bps) +22.1% LC E-commerce Growth YoY Store Transformation during 2Q26 5 Service Stations Divestment 31 / 37 Number of Metro Almacen 14 3 . 12 · R E S U L T S B Y C O U N T R Y · C O L O M B I A
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04 Sustainability
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CENCOSUD | 2Q26 EARNINGS PRESENTATIONCENCOSUD | 2Q26 EARNINGS PRESENTATION People and Communities at the Center of Cencosud's Social Agenda GOVERNANCE • Cencosud ranks as the #1 Business Holding in Cadem's Citizen Brands study. • Integrated Annual Report 2025 and execution of the strategic plan • Cencosud reinforces its position as a sustainability benchmark in the region. • Cencosud brings together leaders and suppliers to strengthen a sustainable value chain in Peru. PLANET PEOPLE • Community reconstruction: Easy and Paris drove a comprehensive support initiative for communities affected by wildfires. The project included housing and school assistance. • Mujeres Transformadoras: A program that fosters female entrepreneurship in Argentina. • Heritage restoration of the Correo Central: Easy took part in the restoration of the façade of the historic Correo Central building in Chile through its “Terapia de Hogar” program. • Cencosud promotes a healthy living culture for employees and communities. • Cencosud announces the first Metis Talent Hub cell. 31 • Cencosud makes history and leads the Zero Waste Awards. • Cencosud extends one of the largest renewable energy agreements for retail supply in Chile. 4 . 1 · S U S T A I N A B I L I T Y
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32 I N V E S T O R R E L A T I O N S ir@cencosud.cl www.cencosud.com/en/inversionistas