Earnings release
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Earnings Release 2Q2026 cencosud CONFERENCE CALL 7 August 崗 7 2026 Connection link 11:00 AM ET | Chile 4:00 PM London R247
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Strategic Progress and Digital Transformation During the quarter, we continued to strengthen the integration of our retail ecosystem and the development of capabilities supported by technology and data. Consolidated online sales increased 14.6% YoY, reaching 8.9 million of online transactions (+14.5% YoY). Online sales delivered double-digit growth in five of our six markets, led by Argentina (+80.1% YoY in LC) and Colombia (+22.1% YoY in LC). As of the end of 2Q26, we reached 31 million active loyalty customers, while the number of Prime program subscribers across the region increased 31.3% YoY. 2 Second Quarter 2026 | Earnings Release Performance Across Markets Adjusted EBITDA reflected broad-based profitability improvements across the region, led by Colombia (+80.0% YoY in LC), Peru (+11.5% YoY in LC), Brazil (+8.1% YoY in LC, excluding the divestment of Bretas Minas Gerais in 2Q25) and Argentina Supermarkets (+105.7% YoY in LC). Revenue performance was supported by strong growth in Peru (+6.4% YoY in local currency), as well as resilient performance in the United States (+1.9% YoY in local currency) and Chile (+0.1% YoY). Strengthening Our Physical Footprint and Regional Portfolio We continued to strengthen our physical value proposition and expand our regional portfolio. We announced the acquisition of Makro in Colombia (20 stores, 18 owned) and St. Marché in Brazil (32 stores), adding complementary formats and strengthening our competitive positioning in both countries. In addition, we remodeled and converted 28 stores, opened 7 stores in Chile (including 3 under the new hard-discount banner Don Salva and 4 Santa Isabel stores marking our entry into Chiloé), expanded shopping centers, and added Plaza Central to Cenco Malls' portfolio in Colombia. Quarterly Financial Performance 2Q26 was marked by a more moderate consumer environment across the region. Consolidated Revenues, excluding hyperinflation accounting and foreign exchange effects in Argentina, reached CLP 4,115 billion (-1.2% YoY), while Adjusted EBITDA totaled CLP 329 billion, with an 8.0% margin. Adjusted EBITDA excludes CLP 17 billion of extraordinary costs, primarily related to productivity initiatives in Argentina and Brazil under the "Un solo Cencosud" transformation program. 2Q26 HIGHLIGHTS 4 3 2 1 Note: 2Q26 quarterly figures exclude IAS 29 and IAS 21 accounting adjustments in Argentina. CLP 4,115 Bn (1.2%) YoY CLP 329 Bn 8.0% Adjusted EBITDA Margin CONSOLIDATED REVENUES EBITDA AJUSTADO UTILIDAD NETA CLP 21 Bn (84.2%) YoY CLP 480 Bn +14.6% YoY 8.9 MM +14.5% YoY ONLINE SALES ONLINE TRANSACTIONS ACTIVE LOYALTY CUSTOMERS ~31,000,000 +31.3% YoY PRIME MEMBERS
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Reported Excl. IAS 29 CLP Million 2Q26 2Q25 Var % 2Q26 2Q25 Var % Total revenues 4,094,746 4,171,343 -1.8% 4,114,883 4,166,509 -1.2% Gross Profit 1,178,011 1,243,095 -5.2% 1,204,935 1,252,043 Gross margin 28.8% 29.8% -103 bps 29.3% SG&A expenses -1,028,964 -1,031,099 -0.2% -1,020,269 -1,015,334 Operating profit 161,193 259,499 -37.9% 194,628 283,298 -31.3% Non-operating profit (loss) -148,360 -92,273 60.8% -166,765 -96,875 Income tax expense -30,907 -64,179 -51.8% -6,410 -50,342 Net Income (loss) -18,074 103,047 -117.5% 21,452 136,081 -84.2% Net Income, attributable to controlling shareholders -36,455 86,491 -142.1% 3,071 119,525 Non-controlling interest 18,381 16,556 11.0% 18,381 16,556 Net Distributable Income -38,353 69,750 -155.0% N.A. N.A. N.A. Adjusted EBITDA 307,898 365,820 -15.8% 328,611 374,546 -12.3% Adjusted EBITDA margin 7.5% 8.8% -125 bps 8.0% 9.0% -100 bps -3.8% 30.1% -77 bps 0.5% 72.1% -87.3% -97.4% 11.0% 3 Second Quarter 2026 | Earnings Release Santiago, August 6, 2026.- Cencosud S.A. (BCS: CENCOSUD) reported today its second quarter 2026 results. This quarter, the Company made significant progress in executing its strategy to strengthen its omnichannel retail ecosystem, driven by consolidated online sales growth of 14.6% and a similar expansion in the number of transactions. In addition, Cencosud’s active loyalty customers reached 31 million, while subscribers to Prime programs across the region increased by 31.3% compared to the same period of the previous year, reflecting the potential of its omnichannel value proposition. Reported consolidated Revenues reached CLP 4,094,746 million during the quarter, recording a decrease of 1.8% compared to 2Q25. Excluding the accounting adjustments related to Argentina's hyperinflation (IAS 29 and IAS 21), consolidated revenues reached CLP 4,114,883 million, decreasing 1.2% compared to 2Q25. Reported Adjusted EBITDA reached CLP 307,898 million, with a margin of 7.5% (-15.8% YoY and - 125 bps). Excluding the accounting adjustments for hyperinflation in Argentina (IAS 29 and IAS 21), it amounted to CLP 328,611 million, with a margin of 8.0% (-12.3% YoY and -100 bps). In addition, Adjusted EBITDA excluded extraordinary impacts of CLP 17,038 million, associated with the productivity plan and transformation costs (see Appendix A.5), mainly in Argentina and Brazil. Including these effects, EBITDA would have reached CLP 311,573 million, with a margin of 7.6% (excluding Argentina's hyperinflation adjustments). Net income, excluding Argentina's accounting adjustments, reached CLP 21,452 million, down 84.2% YoY, primarily reflecting the higher non-cash inflationary impact of UF-denominated debt on non-operating results. Distributable Net Income for the quarter amounted to a loss of CLP 38,353 million. 2Q26 RESULTS
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C E O ’ s M E S S A GE ( 1 / 2 ) 4Second Quarter 2026 | Earnings Release During the second quarter, we continued to advance the integration of our retail ecosystem and the evolution of capabilities supported by data and technology, with the ambition of becoming the most relevant omnichannel, multi-format retailer in our customers' lives. Retail, technology and consumer habits continue to evolve rapidly, and at Cencosud we are evolving at the same pace, building a more agile, simpler and increasingly integrated organization. Within our plan, launched in 2025, we continued advancing the integration of customer data, the development of an integrated advanced analytics platform, the deployment of new artificial intelligence tools to personalize our value proposition, and the scaling of our digital commerce, retail media, and private label businesses. At the regional level, we reached 31 million active loyalty customers, while our e- commerce sales grew 14.6% year-over-year and the number of Prime program subscribers increased 31.3% year-over-year. Finally, Private Label sales increased 4.9%, reaching a penetration rate of 18.9%. At the same time, we continued to strengthen our physical value proposition, with 28 stores remodeled or converted during the quarter, seven new stores opened in Chile—including the launch of the Don Salva hard discount format and Santa Isabel's entry into Chiloé—, the expansion of well-established and profitable shopping centers across the region, including the incorporation of Plaza Central into Cenco Malls Colombia, and continued progress on a new distribution center for Easy in Chile. In addition, we designed a more agile and integrated organizational structure built around cross-functional platforms that will accelerate technology deployment, strengthen processes and capture additional synergies under an operating model designed to support and facilitate our future growth. We also continued to strengthen our regional portfolio. In Brazil, we signed an agreement to acquire 100% of St. Marché, a leading premium supermarket chain in São Paulo, with a value proposition centered on quality, freshness and service that is closely aligned with Jumbo and The Fresh Market. In Colombia, we announced the acquisition of Makro, strengthening our regional format strategy by adding a complementary format to our traditional supermarket operations while creating additional opportunities for synergies and scale. “We continue to drive our transformation with determination, conviction and a long-term vision to become the most relevant retail ecosystem in our customers' lives." Rodrigo Larraín, CEO Cencosud
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C E O ’ s M E S S A GE ( 2 / 2 ) 5Second Quarter 2026 | Earnings Release We recognize that we continue to operate in a slower consumer environment and under intense competitive conditions, particularly in Chile. We are addressing this cycle with the experience of teams that have successfully navigated similar environments before, supported by the strength of our ecosystem of brands and services. Together with the tactical and strategic initiatives we have implemented, this gives us confidence in a stronger recovery during the second half of the year. During the second quarter, consolidated revenues reached CLP 4,094,746 million (- 1.8% YoY), while reported Adjusted EBITDA totaled CLP 307,898 million, representing a margin of 7.5% (-15.8% YoY). Excluding hyperinflation accounting and foreign exchange effects in Argentina, Adjusted EBITDA margin reached 8.0% (-12.3% YoY), reflecting the impact of foreign exchange on reported results. In addition, results included CLP 17,038 million of costs associated with our productivity plan, primarily in Argentina and Brazil. In Chile, we implemented initiatives to address a highly promotional environment and a gradual recovery in consumer demand, which are already showing encouraging early results. The rest of the region continued to make progress: In Argentina, Adjusted EBITDA grew 39.1% in local currency (margin +88 bps), excluding the impairment of the financial services portfolio; in Brazil, excluding the sale of Bretas Minas Gerais in 2Q25, it increased 8.1% (margin +103 bps); and in Colombia, the margin expanded from 2.1% to 3.9%. Peru and the United States continued to deliver solid results. We continue to manage our current business with discipline and determination while strengthening the capabilities that will shape Cencosud's future, moving forward with conviction toward our vision of becoming the most relevant retail ecosystem in our customers' lives.
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6 Second Quarter 2026 | Earnings Release BUSINESS RESULTS AND TRENDS Consolidated revenues reflected positive performances in most markets. Peru stood out with growth of 7.8% in CLP and 6.4% in local currency as a result of the solid performance of supermarkets. In Chile, revenues remained stable (+0.1%), supported by the growth of Supermarkets (+0.4%), Home Improvement (+3.2%) and Shopping Centers (+8.5%). The United States recorded an increase of 1.9% in local currency, driven by online sales (+18.6% YoY), while Colombia increased its revenues by 10.3% in CLP despite a high comparison base associated with the sale of the service stations and the closing of SPID stores last year. In Argentina, the Supermarkets and Shopping Centers businesses grew in line with inflation, contributing to an increase of 23.2% in local currency, while the online channel continued to outperform inflation across all formats, driven by the ongoing improvements to our omnichannel value proposition. In Brazil, revenues decreased 12.6% in CLP and 18.1% in local currency, mainly due to a demanding comparison base following the sale of the Bretas stores in Minas Gerais during 2Q25. The quarter's revenues were partly impacted by the transformation of the operation, including the conversion of Bretas stores in Goiás into Prezunic and multiple remodels of GBarbosa and Prezunic stores. Online sales grew 14.6% year-over-year, raising their penetration to 12.2% of consolidated sales, driven by double-digit growth in most markets and the expansion of the Prime customer base (+31.3%). Digital transactions exceeded 8.9 million (+14.5% YoY), while Private Label sales grew 4.9%, reaching a penetration of 18.9% of sales, consolidating their contribution to the Company's value proposition. Adjusted EBITDA for the quarter was affected by the high promotional activity and competitive intensity in Chile, together with exchange rate effects. However, the evolution of profitability across different markets reflected relevant progress in operating efficiency and commercial management. Adjusted EBITDA showed a favorable evolution in Peru (+12.9% in CLP; +11.5% in local currency), Colombia (+100.1% in CLP; +80.0% in local currency), and Argentina, where the Adjusted EBITDA of the supermarkets business grew 105.7% in local currency and 59.7% in CLP, reflecting progress in operating efficiency and commercial strategy. In Brazil, the Adjusted EBITDA (+8.1% in LC) of Supermarkets continued reflecting the portfolio optimization process following the sale of Bretas. In Chile, Supermarkets maintained a double- digit Adjusted EBITDA margin (10.5%) and recovered market share, in a quarter marked by higher promotional activity and a greater weight of the online channel in the sales mix (+191 bps YoY). In Home Improvement, margins reflected a lower average price and changes in the product mix, while the online channel drove growth (+22.8% YoY). In Department Stores, a demanding comparison base, a more promotional environment and the renovations of the flagship Paris stores (~10% of the format's sales) temporarily affected the performance. During the quarter, Cencosud continued strengthening its regional platform through organic and inorganic growth initiatives. Among the main milestones, the following stood out: in Chile, the opening of three Don Salva stores, marking the Company's entry into the hard discount format, and the expansion into Chiloé through four Santa Isabel stores; the announcements of the acquisitions of the operations of Makro in Colombia and of St. Marché in Brazil; and the progress in the incorporation of Plaza Central into the Cenco Malls portfolio. Finally, Cencosud reinforced its financial position by successfully executing the refinancing of its 2027 debt maturities through bond issuances in Chile and the United States, extending the average duration of the debt from 5.49 to 7.27 years, as of the end of 2Q26, and strengthening its financial flexibility.
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SAME STORE SALES EVOLUTION 7 Second Quarter 2026 | Earnings Release Starting in 2Q26, the Company has updated its Same Store Sales (SSS) methodology to include e-commerce sales, reflecting the increasing relevance of the online channel and providing a more comprehensive view of underlying commercial performance. Under the previous methodology, which excluded online sales, Supermarkets Chile SSS would have been -2.5% in 2Q26. Similarly, in Argentina and the United States, where the digital channel continued to expand strongly, the inclusion of e-commerce sales also had a positive impact on comparable sales. For SSS under the previous methodology (excluding e-commerce), please refer to Annex A15 – SSS. In Brazil, performance was affected by the remodeling process of 36 stores during the period, of which 19 had already been reopened as of the end of June. Department Stores results reflected a demanding comparison base and a greater share of the digital and marketplace channels in the sales mix (44.9%, an increase of 585 bps YoY). Easy Chile trends showed a sequential improvement versus the prior quarter, supported by greater momentum in the online channel (+22.8% YoY). Variation in Local Currency 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Supermarket Chile 0.9% 3.7% 1.3% 1.0% -0.1% -0.1% Argentina 50.2% 40.8% 33.5% 29.8% 29.0% 29.5% USA 3.7% 3.9% 0.5% -1.3% -0.5% -0.1% Brazil -11.9% -4.7% 1.2% -0.7% -1.4% -8.0% Peru 1.3% 4.5% 1.7% 3.8% 5.9% 6.0% Colombia -0.1% 5.2% 6.0% 4.4% 3.1% 4.5% Home Improvement Chile 8.6% 4.1% 1.2% 0.2% -6.4% -0.1% Argentina 62.8% 44.7% 28.4% 16.9% 10.7% 12.5% Colombia -1.4% 2.0% 22.5% 14.4% 12.3% 7.4% Department Stores Chile 17.2% 6.2% 5.3% -0.7% -12.3% -3.2%
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8 Second Quarter 2026 | Earnings Release CLP Million Online Sales % vs 2025 2Q26 2Q25 Δ CLP Δ LC Chile 339,729 11.9% Argentina 37,936 27,095 40.0% 80.1% USA 48,569 12.5% 18.6% Brazil 11,324 11,236 0.8% -5.6% Peru 26,271 21,975 19.6% 18.0% Colombia 16,635 34.6% 22.1% TOTAL N.A. ONLINE SALES Total online sales for the quarter reached CLP 480,465 million, increasing 14.6% year-over-year and raising online penetration to 12.2% of total sales. Double-digit growth was recorded in most markets, led by Argentina, Colombia, the United States and Peru. This performance was supported by the strong expansion of the Prime program (+31.3% YoY) with Chile and Peru standing out, where number of subscribers increased 37.5% and 40.9% YoY, respectively. In Chile, the Cyber event also delivered strong results, with double-digit growth across Supermarkets, Department Stores and Home Improvement. Additionally, the Paris Marketplace continued to gain scale, growing 33.2% year-over-year and reinforcing its position as a key driver of digital growth. 303,520 11.9% 43,182 12,360 480,465 419,366 14.6% E-Commerce Penetration 12.2% E-Commerce Sales 480 CLP M +14.6% YoY Prime Subscribers +31.3% YoY
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PRIVATE LABEL 9 Second Quarter 2026 | Earnings Release Private Label penetration reached 18.9% of total sales in 2Q26 (+47 bps YoY), supported by 4.9% sales growth and continued progress in both Food, where penetration reached 17.0% (+12 bps), and Non-Food, which increased to 24.6% (+144 bps). At the regional level, all markets continued to expand Private Label penetration, led by Argentina, which reached 20.0% (+223 bps), while Brazil exceeded a 10% sales share. Chile and Peru continued to rank among the most mature Private Label markets in the region. Private Label remained a key driver of growth, profitability and customer value during the quarter. The portfolio continued to expand with new brands, products and categories, including the launch of Robust in the Home Improvement business, further strengthening the Company's differentiated value proposition. 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% GROWTH During 2Q26, the Company opened seven stores in Chile, adding 3,781 sqm of selling space. Key milestones included the launch of three Don Salva stores, marking Cencosud's entry into the hard discount format, and the integration of four Santa Isabel stores in Chiloé, strengthening its presence in southern Chile. In Brazil, the Company advanced in the conversion of Bretas (Goiás) to Prezunic, and the remodelings of GBarbosa, including the expansion of the store-in-store model with the Empório Perini and Adega Perini formats. As part of this optimization process, four GBarbosa stores were closed. In Colombia, the Company continued executing the optimization of its portfolio through the conversion of five Metro stores to the Metro Almacén format, a format that continues showing a solid performance and greater growth opportunities. Openings Remodelings Closures 2Q26 # sqm # # sqm Chile 7 3,781 3 0 0 Argentina 0 0 0 1 1,138 USA 0 0 0 1 1,263 Brazil 0 0 19 4 12,255 Peru 0 0 1 0 0 Colombia 0 0 5 0 0 Total 7 3,781 28 6 14,656
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PERFORMANCE BY COUNTRY Adjusted EBITDA 2Q26 2Q25 % vs 2025 CLP MM CLP MM ∆ % LC ∆ % Chile 162,062 210,120 -22.9% -22.9% Argentina 46,245 49,858 -7.2% 19.3% USA 47,741 50,353 -5.2% 0.2% Brazil 19,211 20,923 -8.2% -13.8% Peru 43,073 38,155 12.9% 11.5% Colombia 10,279 5,138 100.1% 80.0% Total 328,611 374,546 -12.3% N.A. 10 Second Quarter 2026 | Earnings Release REVENUES 2Q26 2Q25 % vs 2025 CLP MM CLP MM ∆ % LC ∆ % Chile 1,818,005 1,815,747 0.1% 0.1% Argentina 835,327 871,963 -4.2% 23.2% USA 505,555 523,149 -3.4% 1.9% Brazil 344,096 393,492 -12.6% -18.1% Peru 347,350 322,250 7.8% 6.4% Colombia 264,551 239,908 10.3% 0.0% Total 4,114,883 4,166,509 -1.2% N.A.
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During the quarter, Cencosud continued strengthening its commercial execution and omnichannel capabilities in Chile amid a highly competitive and promotional environment, further impacted by inflationary cost pressures. Key milestones included the launch of the cross-platform campaign “Círculo que te Premia”, which engaged nearly one million participants; the introduction of Club Easy Pro, a new loyalty program for professional customers; the launch of Don Salva, the Company's new hard discount format; and its entry into Chiloé through four Santa Isabel stores. The successful Cyber event attracted more than 500 thousand customers, delivering 26% YoY sales growth, record traffic of over 26 million visits and high levels of order fulfillment and service quality, reaffirming the Company's leadership in the online channel. These initiatives supported double-digit online sales growth and further strengthened customer engagement across brands and channels. Revenues increased 0.1% YoY, reflecting an improvement in momentum versus the previous quarter. Adjusted EBITDA remained under pressure due to higher logistics costs associated with a greater online sales mix and continued promotional intensity. REVENUES 2Q26 2Q25 % vs 2025 CLP M % CLP M % ∆ % Supermarkets 1,249,637 30.4% 1,244,453 29.9% 0.4% Shopping Centers 70,010 1.7% 64,506 1.5% 8.5% Home Improvement 201,400 4.9% 195,202 4.7% 3.2% Department Stores 293,355 7.1% 304,067 7.3% -3.5% Other 3,603 0.1% 7,519 0.2% -52.1% Revenues 1,818,005 44.2% 1,815,747 43.6% 0.1% ADJ. EBITDA 2Q26 2Q25 % vs 2025 CLP M Mg (%) CLP M Mg (%) ∆ % Supermarkets 131,526 10.5% 157,752 12.7% -16.6% Shopping Centers 56,503 80.7% 51,802 80.3% 9.1% Home Improvement 1,731 0.9% 8,516 4.4% -79.7% Department Stores 14,442 4.9% 24,720 8.1% -41.6% Financial Services -4,471 N.A. -848 N.A. 427.2% Other -37,671 N.A. -31,822 N.A. 18.4% Adj. EBITDA 162,062 8.9% 210,120 11.6% -22.9% 11 Second Quarter 2026 | Earnings Release
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Quarterly revenues increased 0.4% YoY, driven by 13.6% growth in online sales, supported by a 9.9% increase in online transactions surpassing 3.7 million during 2Q26. Market share also recovered by approximately 100 bps versus the previous quarter. During the quarter, Cencosud expanded its presence in Chile through the integration of four Santa Isabel stores in Chiloé and the launch of Don Salva, its new hard discount banner, with three stores opened and a plan to reach 40 cumulative locations by year-end. The Adjusted EBITDA margin contracted 215 bps YoY to 10.5%, remaining at double- digit levels. The change responded mainly to a 139 bps contraction of the gross margin, associated with greater promotional intensity during the quarter, together with higher marketing, advertising and logistics expenses resulting from a higher online sales mix. SUPERMARKETS Revenues recorded a year-over-year increase of 3.2%, driven by a solid performance of the seasonal categories, together with 22.8% growth in online sales, driven by a strong expansion of digital customers, and an 8.6% increase in the B2B channel. The growth of active loyalty customers stands out (+5% YoY), an increase in online transactions of 29% YoY, with Club Easy Pro customers reaching 22,000 members, while sales from Pro customers increased 14% YoY. The Adjusted EBITDA margin contracted 350 bps YoY, associated with a gross- margin contraction, in a context of strengthening the commercial proposition and greater competitiveness, together with a higher share of online sales and the wholesale channel. HOME IMPROVEMENT Quarterly revenues decreased 3.5% YoY, with a demanding comparison base due to lower tourist activity compared with 2Q25. The solid performance of the digital channels stood out, with 33.2% YoY growth in Marketplace sales and more than 2.2 million digital transactions between Marketplace and online sales, equivalent to 22.2% YoY growth. The Adjusted EBITDA margin presented a contraction of 321 bps year-over-year, explained by lower gross profitability in a context of greater commercial investment and a more competitive environment, together with a greater share of online sales, whose higher logistics and last-mile costs continued pressuring profitability. DEPARTMENT STORES 12 Second Quarter 2026 | Earnings Release
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Revenues increased 8.5% YoY, driven by the addition of 31,816 sqm of additional GLA, higher office occupancy and a 65 bps improvement in the occupancy rate. This growth was partially offset by lower variable-rent revenues, reflecting a decrease in tenant sales versus the high comparison base of the prior period. In turn, traffic showed a positive evolution, with a 6.5% increase in visits versus the same period of the prior year. These results were achieved while the Company continued executing expansion projects and redevelopment works at several of its flagship shopping centers, which represent approximately 33% of Cenco Malls’ revenues in Chile. The Adjusted EBITDA margin expanded 40 bps, reaching 80.7%, which is explained by a higher operating result and controlled expenses during the period. SHOPPING CENTERS FINANCIAL SERVICES Adjusted EBITDA remained under pressure due to a deterioration of the portfolio, reflected in higher delinquency levels. In addition, during the quarter there were higher expenses associated with collections management and commercial campaigns. 13 Second Quarter 2026 | Earnings Release
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During the quarter, Cencosud continued executing its strategy focused on strengthening operational efficiency and enhancing its commercial proposition. The Company advanced the integration of Makro while expanding its private label and imported product offerings, increasing their penetration by more than 200 bps in both categories. Online sales also maintained strong momentum, growing 40% YoY in CLP and 80.1% in ARS despite a still- challenging consumer environment. The Company continued implementing productivity initiatives across its Supermarkets and Home Improvement businesses, which generated extraordinary costs during the quarter. At the same time, it maintained strict cost discipline and continued optimizing its store network. REVENUES 2Q26 2Q25 % vs 2025 CLP M % CLP M % ∆ % LC ∆ % Supermarkets 622,476 15.1% 629,190 15.1% -1.1% 27.3% Shopping Centers 24,664 0.6% 24,093 0.6% 2.4% 31.6% Home Improvement 154,550 3.8% 180,649 4.3% -14.4% 10.1% Financial Services 32,994 0.8% 36,557 0.9% -9.7% 16.1% Other 642 0.0% 1,474 0.0% -56.5% -44.4% Revenues 835,327 20.3% 871,963 20.9% -4.2% 23.2% Adj. EBITDA 46,245 5.5% 49,858 5.7% -7.2% 19.3% During 2Q26, revenues grew 27.3% in ARS and decreased 1.1% in CLP YoY, reflecting a still-challenging consumption environment. Nonetheless, the Company continued strengthening its commercial proposition, driven by the solid performance of Jumbo and Disco, the growth of online sales, which increased 90.4% in local currency, and the development of private label and imported products. In this context, private label increased its share by 223 bps, while the company continued gaining market share (+50 bps YoY) in its main formats. Adjusted EBITDA increased 105.7% in ARS and 59.7% in CLP YoY, with a 201 bps margin expansion, driven by better management of operating expenses. Additionally, progress in the integration of Makro continued to generate operational synergies and efficiencies, while the optimization of the store network, including the closure of 14 underperforming Vea stores, helped strengthen the profitability of the business. SUPERMARKETS 14 Second Quarter 2026 | Earnings Release
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During 2Q26, revenues increased 10.1% in ARS and decreased 14.4% in CLP YoY, reflecting a still-challenging consumption and construction environment in Argentina, with demand remaining depressed in the business’s main categories. Nonetheless, the Company continued strengthening its commercial proposition, driven by a solid performance of online sales, which grew 59.7% in local currency, and the launch of Club Easy Pro, a new loyalty program focused on professionals, aimed at strengthening customer relationships and boosting the growth of this segment. Adjusted EBITDA decreased 22.0% in ARS and 39.3% in CLP, affected by lower sales and lower operating profitability in a context of low activity in the construction sector. Nonetheless, the company continued executing efficiency and expense- control initiatives aimed at mitigating the impact of the challenging market environment HOME IMPROVEMENT Quarterly revenues increased 31.6% in ARS and 2.4% in CLP, driven by the incorporation of new international brands and better commercial terms in lease agreements. This helped partially offset a still-challenging consumption environment and tenant sales that continued to grow below inflation. During the quarter, the start of the Unicenter expansion works stood out, which will add ~16,900 sqm of additional GLA, strengthening the commercial proposition and growth potential of the shopping center. At the Adjusted EBITDA level, growth of 30.5% in ARS and 1.4% in CLP was recorded, driven by higher revenues associated with new lease agreements, better commercial terms and solid expense discipline. Likewise, the addition of new international brands continued to strengthen asset profitability during the period. SHOPPING CENTERS Quarterly revenues increased 16.1% in ARS and decreased 9.7% in CLP, reflecting a more conservative portfolio and lower consumption levels, partially offset by higher revenues from credit-card financing. Adjusted EBITDA decreased 89.2% in ARS and 91.9% in CLP, mainly due to the increase in risk provisions arising from higher delinquency levels in the Argentine financial system. This was partially offset by lower financing costs, in line with the reduction of interest rates during the period. FINANCIAL SERVICES 15 Second Quarter 2026 | Earnings Release
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During the quarter, The Fresh Market’s strategy remained focused on strengthening the customer value proposition through omnichannel capabilities, loyalty and operational efficiency. In a context of lower industry momentum, more cautious consumers and inflationary pressures affecting the supply chain and logistics costs, the company drove online sales growth, whose sales increased 18.6% YoY, supported by a 12% increase in online transactions and strategic partnerships. Similarly, recently opened stores continued to mature and contribute to sales growth, while the private label portfolio continued to expand its product offering. Revenues increased 1.9% in USD and decreased 3.4% in CLP YoY. The improvement versus 2Q25 was driven mainly by the contribution of stores opened in the last 12 months and the strong performance of e-commerce (+18.6% YoY). Adjusted EBITDA increased 1.3% in USD and decreased 4.1% in CLP YoY, mainly due to the depreciation of the dollar against the Chilean peso. Despite inflationary pressures, particularly due to higher fuel costs, the Company maintained stable margins thanks to sales growth, disciplined cost management and lower pre- operating costs, due to the absence of new openings during the period. SUPERMARKETS 16 Second Quarter 2026 | Earnings Release REVENUES 2Q26 2Q25 % vs 2025 CLP M % CLP M % ∆ % LC ∆ % Supermarkets 505,555 12.3% 523,149 12.6% -3.4% 1.9% Revenues 505,555 12.3% 523,149 12.6% -3.4% 1.9% CLP M Mg (%) CLP M Mg (%) ∆ % LC ∆ % Adj. EBITDA 47,741 9.4% 50,353 9.6% -5.2% 0.2%
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During the quarter, Cencosud Peru continued to deliver solid results, posting growth across all its businesses and margin expansion, driven by the strong performance of the supermarket business and the continued maturation of Cenco La Molina. At the same time, the Company further enhanced its commercial and omnichannel proposition, with online sales growing 18.0% YoY. The Company also continued expanding strategic categories, including perishables and private label, and advanced its expansion plan, with five new stores scheduled to open during the second half of the year. REVENUES 2Q26 2Q25 % vs 2025 CLP M % CLP M % ∆ % LC ∆ % Supermarkets 337,591 8.2% 313,792 7.5% 7.6% 6.2% Shopping Centers 8,482 0.2% 7,652 0.2% 10.8% 9.4% Other 1,277 0.0% 806 0.0% 58.4% 56.4% Revenues 347,350 8.4% 322,250 7.7% 7.8% 6.4% Adj. EBITDA 43,073 12.4% 38,155 11.8% 12.9% 11.5% Revenues increased 6.2% in PEN and 7.6% in CLP versus 2Q25, driven by 18.0% growth in online sales and a solid SSS evolution (+6.0% YoY), led by the growth of Metro and Metro Almacén, together with the solid result of Wong. This performance was supported by the strengthening of the company’s value proposition and the launch of more than 50 new private-label SKUs during the quarter. Adjusted EBITDA increased 9.4% in PEN and 10.8% in CLP YoY, driven by an expansion of commercial margins, mainly in the perishables category, and efficient management of operating expenses, which grew below revenues. This helped offset the increase in logistics costs and continue strengthening the profitability of the business. SUPERMARKETS 17 Second Quarter 2026 | Earnings Release Quarterly revenues grew 9.4% in PEN and 10.8% in CLP year-over-year due to a greater number of store openings at Cenco La Molina during the quarter. On the other hand, Adjusted EBITDA recorded an increase of 2.9% in PEN and 4.3% in CLP. The EBITDA growth was driven by higher revenues, mainly from Cenco La Molina. SHOPPING CENTERS
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During 2Q26, Cencosud Brazil continued advancing its portfolio optimization strategy and recovery plan, strengthening its retail formats and differentiated value propositions. The quarter was marked by an intensive renovation and conversion program, with 19 GBarbosa and Prezunic stores remodeled, including continued progress in the conversion of Bretas Goiás stores to Prezunic. The Company also expanded the Perini store-in-store concept within GBarbosa, enhancing its premium offering, while GIGA continued evolving its value proposition by combining competitive prices with a broader assortment of perishables, services and premium products, including the opening of a new store in Sorocaba in July. In addition, the acquisition of St. Marché, marks a new step in Cencosud Brazil’s strategy to expand into the premium supermarket segment, incorporating a highly recognized and complementary brand. The transaction strengthens the Company’s presence in São Paulo, Brazil’s largest consumer market and most economically dynamic region, while expanding its exposure to higher-income customers, in line with a strategy that has already delivered positive results in other markets. REVENUES 2Q26 2Q25 % vs 2025 CLP M % CLP M % ∆ % LC ∆ % Supermarkets 344,096 8.4% 393,492 9.4% -12.6% -18.1% Revenues 344,096 8.4% 393,492 9.4% -12.6% -18.1% Adj. EBITDA 19,211 5.6% 20,923 5.3% -8.2% -13.8% Revenues decreased 18.1% in BRL and 12.6% in CLP, reflecting an unfavorable comparison base, given that 2Q25 included the operations of the 54 Bretas stores in Minas Gerais and the 34 pharmacies closed during 2025. Additionally, the quarter’s performance was affected by multiple store remodelings and conversions. Nonetheless, the remodeled and converted stores have shown a favorable evolution in sales after their reopening, validating the portfolio-transformation strategy. Supermarkets’ Adjusted EBITDA increased 8.1% in LC and 15.1% in CLP, with a 103 bps margin expansion, reflecting progress in the transformation plan and a sustained improvement in operating profitability. SUPERMARKETS 18 Second Quarter 2026 | Earnings Release
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In Colombia, the Company continued strengthening operational efficiency and optimizing its portfolio. During the quarter, it advanced productivity and expense-control initiatives, keeping expense growth below inflation, and continued expanding the Metro Almacén format, whose performance continues to show a positive trend. Likewise, Easy continued strengthening its value proposition through greater commercial discipline, profitability improvements and the growth of its omnichannel capabilities. In parallel, it advanced the transfer of 17 service stations during the quarter, reaching 31 stations transferred out of a total of 37. Additionally, it completed the acquisition of Plaza Central, whose consolidation strengthened the Shopping Centers business in Colombia and expanded its presence in a market with attractive growth opportunities. During the quarter, the acquisition of Makro was announced, for an Enterprise Value of approximately USD 158 million, subject to customary closing adjustments. The transaction incorporates a pure Cash & Carry platform with 20 stores across 16 cities, approximately USD 480 million in annual sales (FY25), and nearly 70,000 sqm of selling space. The acquisition complements the Company’s current portfolio in Colombia by adding a new format, expanding its customer coverage and strengthening its competitive positioning in the country. In addition, it contributes a significant real estate portfolio, with a high proportion of owned stores. REVENUES 2Q26 2Q25 % vs 2025 CLP M % CLP M % ∆ % LC ∆ % Supermarkets 235,456 5.7% 217,232 5.2% 8.4% -1.7% Shopping Centers 5,858 0.1% 3,177 0.1% 84.4% 65.2% Home Improvement 22,210 0.5% 18,778 0.5% 18.3% 7.4% Financial Services 965 0.0% 912 0.0% 5.8% -3.2% Other 62 0.0% -192 0.0% -132.5% -125.9% Revenues 264,551 6.4% 239,908 5.8% 10.3% 0.0% Adj. EBITDA 10,279 3.9% 5,138 2.1% 100.1% 80.0% 19 Second Quarter 2026 | Earnings Release During 2Q26, revenues decreased 1.7% in COP and increased 8.4% in CLP, mainly due to a smaller store base following the closure of SPID operations during 2025 and the sale of the service station business. Nonetheless, operational performance continued to show a favorable trend, with SSS growth of 4.5% in local currency and a solid performance of the online channel, whose sales increased 19.4% year-over-year. SUPERMARKETS
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2Q26 revenues increased 7.4% in COP and 18.3% in CLP year-over-year, driven mainly by the growth of the online channel, which posted a 48.8% year-over-year increase. Performance was also favored by a higher average transaction cost (+12.3% YoY) and the strength of categories such as furniture and flooring, reflecting the progress of Easy’s omnichannel strategy. Adjusted EBITDA increased 16.7% in COP and 28.3% in CLP YoY, reflecting more efficient management of the business, with a focus on purchasing quality, portfolio optimization and a greater contribution from higher-profitability channels. HOME IMPROVEMENT During 2Q26, revenues grew 65.2% in COP and 84.4% in CLP, mainly due to the incorporation of Plaza Central as of June 2026 and following an investment of USD 124.5 million, together with the solid operational performance of the shopping center portfolio and progress in the commercial management and occupancy of the assets. Adjusted EBITDA increased 76.2% in COP and 98.3% in CLP versus the same period of the prior year, with a 368 bps expansion in the EBITDA margin, reflecting the contribution of Plaza Central and solid operational management of the portfolio. SHOPPING CENTERS Adjusted EBITDA decreased 4.7% in COP and increased 3.8% in CLP YoY, with a 111 bps contraction in the EBITDA margin, reflecting higher provisions and a more demanding financing-cost environment, partially offset by initiatives aimed at strengthening portfolio quality. FINANCIAL SERVICES 20 Second Quarter 2026 | Earnings Release Adjusted EBITDA decreased 0.5% in COP and increased 10.2% in CLP YoY. Nonetheless, the EBITDA margin recorded a slight YoY expansion, reflecting greater portfolio efficiency following the divestment of the service station business, together with active commercial-margin management and disciplined operating-expense control.
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FORWARD-LOOKING STATEMENTS DISCLAIMER 21 Second Quarter 2026 | Earnings Release The information contained in this earnings release was prepared exclusively by Cencosud S.A. ("Cencosud") for informational purposes only. It does not constitute and should not be interpreted as a recommendation, invitation or offer to buy or sell securities of Cencosud or its subsidiaries in any jurisdiction, nor as investment advice or advice of any other kind. No warranty, whether express or implied, is offered regarding the accuracy, completeness and reliability of the information contained herein. The views expressed in this document may change without prior notice, and Cencosud has no obligation to update or keep the information current. It should be noted that the content of this document is not exhaustive. Cencosud, together with its subsidiaries, officers, partners and employees, shall not be liable for any loss or damage that may arise from the use of this material, in whole or in part. It should be noted that this press release may include forward-looking statements subject to risks and uncertainties, based on current expectations and projections about future events and trends that may affect Cencosud’s operations. It is important to bear in mind that these projections do not guarantee future results. There are multiple factors, many of them beyond the Company’s control, that may cause actual results to differ materially from those contemplated in the forward-looking statements. ABOUT CENCOSUD Cencosud is one of the largest and most prestigious retailers in the Americas, with the purpose of serving in an extraordinary way at every moment. It operates in six countries, with more than 115 thousand employees and 1,367 retail stores, totaling 3.5 million sqm of selling space, and 69 shopping centers, with more than 2.4 million sqm of gross leasable area (GLA). Its multi-format strategy spans Supermarkets, Home Improvement, Department Stores, Shopping Centers and Financial Services. In addition, it drives innovative business lines such as Cencosud Media and Private Label, integrating technology to improve the customer experience. More information at www.cencosud.com. CONTACTS Investor Relations: Irina Axenova, irina.axenova@cencosud.cl Oscar Bentjerodt, oscar.bentjerodt@cencosud.cl Jacqueline Bonilla, jacqueline.bonilla@cencosud.cl Samuel Bitran, samuel.bitran@cencosud.cl IR Website: https://www.cencosud.com/en/inversionistas
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TABLE OF CONTENTS A.1 Key Events 2Q26 ........................................................................................................................ 23 A.2 Awards & Recognitions 2Q26 ........................................................................................... 24 A.3 Sustainability ................................................................................................................................ 25 A.4 Consolidated income statement .................................................................................. 26 A.5 EBITDA and Adjusted EBITDA Reconciliation ..................................................... 27 A.6 Consolidated statement of financial position ...................................................... 28 A.7 Net financial debt reconciliation ................................................................................... 30 A.8 Net leverage ................................................................................................................................. 30 A.9 Debt ratios ..................................................................................................................................... 30 A.10 Cash flow ........................................................................................................................................ 31 A.11 Working capital ......................................................................................................................... 33 A.12 Risk management ................................................................................................................... 34 A.13 Tax breakdown ........................................................................................................................... 35 A.14 Online penetration by format and country ........................................................... 35 A.15 SSS Excluding E-Commerce ............................................................................................ 36 A.16 Macroeconomic indicators ................................................................................................ 37 A.17 Glossary ............................................................................................................................................ 38 APPENDICES Second Quarter 2026 | Earnings Release
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A.1 KEY EVENTS 2Q26 23 Second Quarter 2026 | Earnings Release 1. Bond issuances The Company successfully completed bond issuances of UF 12.5 million in Chile and USD 500 million in the United States to refinance the bond maturing in 2027, optimizing the amortization profile and strengthening financial flexibility. 2. Changes in the Chairmanship of the Boards of Cencosud and Cenco Malls Manfred Paulmann Koepfer took office as the new Chairman of the Board of Cencosud and Jaime Soler Bottinelli as Chairman of the Board of Cenco Malls, reinforcing the strategic continuity and purpose of the company. 3. “Un Círculo que te Premia”: Cencosud’s first cross-format campaign Cencosud presented “Un Círculo que te Premia”, its first major promotional campaign, bringing together all its brands in Chile. A total of 30,000 prizes were raffled, including gift cards and six Tesla Model 3 Performance vehicles. 4. Cencosud launched Don Salva, its new “hard discount” format During the quarter, the first three stores were opened, and the Company maintains its plan to open approximately 40 stores by year-end, expanding its coverage in a segment with high growth potential and strengthening its value proposition for different customer profiles. 5. Santa Isabel arrives in Chiloé with 4 stores Santa Isabel added four new stores in Calbuco, Ancud and Castro, marking its arrival in Chiloé and expanding Cencosud’s presence in the south of Chile. 6. Cencosud announces the acquisition of Makro in Colombia Cencosud announced the acquisition of Makro in Colombia for USD 158 million, incorporating the Cash & Carry format into its portfolio and strengthening its presence in the country. The transaction comprises 20 stores in 16 cities across the country. 7. Cencosud announces the acquisition of St. Marché in Brazil Cencosud signed an agreement to acquire 100% of St. Marché in Brazil, incorporating a leading chain in the premium segment and reinforcing its presence in São Paulo, one of the country’s highest-growth and highest-value markets. The transaction comprises 32 stores and one distribution center. 8. WhiteLabel integration at TFM The Fresh Market incorporates the WhiteLabel solution in the United States, expanding its regional digital ecosystem. The implementation adds to other businesses operating with this application, strengthening loyalty. 9. Delivery Express at Wong and Metro Pilot implementation of Delivery Express in selected stores to improve the experience, increasing orders and sales in the enabled stores, with results to date of +300 Delivery Express orders.
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24 Second Quarter 2026 | Earnings Release 10. Self-Checkout in 100% of stores We completed 100% of the rollout of the Self-Checkout solution across all SM and MdH stores and chains, consolidating a key capability for operations and the customer experience, thanks to the 1,255 total SCO implemented. SUBSEQUENT EVENTS (2Q26) 1. Paris showcases next-generation department store concept at Alto Las Condes Following a 10-month renovation, Cencosud showcased a next-generation department store in Cenco Alto Las Condes, focused on beauty, international brands, and new service offerings. 2. Cencosud Marks Its 50th Anniversary in Chile with the Opening of Jumbo Apoquindo Cencosud inaugurated its 60th Jumbo supermarket in Chile, located in Las Condes, with 1,750 sqm of selling space and full integration into the Company’s omnichannel platform from day one. A.2 AWARDS & RECOGNITIONS 2Q26 1. Cencosud accelerates in sustainability and enters the 2026 Yearbook Cencosud was included in the S&P Global Sustainability Yearbook 2026 and recognized as an “Industry Mover” for its progress in sustainability, reaffirming its commitment to high-impact environmental, social and governance management. 2. Cencosud again leads Corporate Brands in Chile Cencosud was again recognized as No.1 in Corporate Brands and reached fifth place among Chile’s Citizen Brands 2026. This result reflects our customers’ trust and our teams’ commitment to delivering extraordinary experiences. 3. Boost to local entrepreneurship Cencosud strengthened its support for micro and small suppliers through the “Nuestros Productores” program, integrating them into its value chain in Chile. The initiative combines commercial space, academic training and mentoring. 4. Boost to circular fashion Paris stores, together with UDD, developed a circular-fashion project that integrated academia and retail to reuse unused garments. The initiative strengthened its positioning in sustainability and innovation 5. 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. The public-private initiative reinforces the commitment to heritage recovery, urban revitalization and social value creation in downtown Santiago.
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• Cencosud ranks as the No.1 Corporate Holding in Cadem’s Citizen Brands study The Company was recognized as No.1 in Corporate Holding and the fifth Citizen Brand of Chile in Cadem’s 1H26 Citizen Brands ranking. • 2025 Integrated Annual Report and execution of the strategic plan The 2025 Integrated Annual Report presented progress in profitable growth, operational optimization and the strengthening of its retail ecosystem. • Cencosud reinforces its position as a sustainability benchmark in the region Cencosud was included for the ninth consecutive year in the Dow Jones Best in Class Index MILA Pacific 2026, recognition of its performance in sustainability and sustainable value creation. • Cencosud brings together leaders and suppliers to strengthen a sustainable value chain in Peru In a new edition of Cencosud Talks, the company brought together leaders and suppliers to promote a supply chain based on quality and sustainability. A.3 SUSTAINABILITY 25 Second Quarter 2026 | Earnings Release GOVERNANCE PLANET • Cencosud makes history and leads the Zero Waste Awards Cencosud earned first place in Ecológica’s Zero Waste Awards for its food-waste reduction and circular-economy program. • Cencosud extends one of the largest renewable energy supply agreements for retail in Chile Cencosud, together with AES Andes, extended a renewable energy supply agreement through 2037. The contract will allow more than 80% of its stores and 100% of its Cenco Malls in Chile to be supplied with renewable energy. • Community reconstruction Easy and Paris drove a comprehensive support initiative for communities affected by wildfires. The project included the provision of housing and school support. • Mujeres Transformadoras: Program that fosters female entrepreneurship in Argentina Cencosud and Disco celebrated the 10th anniversary of Mujeres Transformadoras, a program that has supported more than 1,500 women entrepreneurs in Argentina through training and mentoring. • Cencosud promotes a healthy-living culture for employees and communities Cencosud promoted well-being, education and entrepreneurship initiatives, fostering the development of its communities and employees. • Cencosud announces the first Metis Talent Hub cell Cencosud launched Metis Talent Hub, together with Accenture Chile and Universidad Adolfo Ibáñez, to connect students with real digital-transformation challenges, fostering employability. PEOPLE
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A.4 CONSOLIDATED INCOME STATEMENT 26 Second Quarter 2026 | Earnings Release Second Quarter 2026 2026 Year-to-Date CLP Million 2Q26 2Q25 ∆ % Inflation effect Conversion effect Inflation effect Conversion effect 2Q26 2Q25 ∆ % Revenues 4,094,746 4,171,343 -1.8% 70,929 -91,066 63,602 -58,768 4,114,883 4,166,509 -1.2% Cost of Sales -2,916,734 -2,928,247 -0.4% -73,043 66,256 -55,160 41,379 -2,909,948 -2,914,466 -0.2% Gross Profit 1,178,011 1,243,095 -5.2% -2,114 -24,810 8,442 -17,389 1,204,935 1,252,043 -3.8% Gross Margin 28.8% 29.8% -103 bps -3.0% 27.2% 13.3% 29.6% 29.3% 30.1% -77 bps Selling and administrative expenses -1,028,964 -1,031,099 -0.2% -32,409 23,713 -32,168 16,403 -1,020,269 -1,015,334 0.5% Other income by function 11,167 31,572 -64.6% 12 1,239 25 -159 9,916 31,706 -68.7% Other gains (losses) 979 15,931 -93.9% 1,088 -154 888 160 46 14,883 -99.7% Operating profit 161,193 259,499 -37.9% -33,424 -11 -22,813 -985 194,628 283,298 -31.3% Participation profit (loss) of associates -4,044 -472 757.3% 0 0 0 0 -4,044 -472 757.3% Net financial income (expenses) -96,038 -91,018 5.5% 7,766 554 4,241 1,057 -104,358 -96,316 8.3% Gains (losses) from foreign exchange -5,550 13,554 -140.9% -289 18 -391 -99 -5,279 14,044 -137.6% Result of indexation -42,728 -14,337 198.0% 12,862 -2,506 78 -283 -53,084 -14,131 275.6% Non-operating profit (loss) -148,360 -92,273 60.8% 20,340 -1,935 3,928 675 -166,765 -96,875 72.1% Income before taxes 12,833 167,226 -92.3% -13,084 -1,946 -18,886 -311 27,863 186,423 -85.1% Income tax expense -30,907 -64,179 -51.8% -25,917 1,420 -14,065 228 -6,410 -50,342 -87.3% Net Income (loss) -18,074 103,047 -117.5% -39,000 -526 -32,951 -83 21,452 136,081 -84.2% Net Income (loss), attributable to controlling shareholders -36,455 86,491 -142.1% -39,000 -526 -32,951 -83 3,071 119,525 -97.4% Non-controlling interest 18,381 16,556 11.0% 0 0 0 0 18,381 16,556 11.0% Adjusted EBITDA 307,898 365,820 -15.8% -17,971 -2,742 -6,739 -1,988 328,611 374,546 -12.3% Adjusted EBITDA margin 7.5% 8.8% -125 bps -25.3% 3.0% -10.6% 3.4% 8.0% 9.0% -100 bps As Reported IAS 29 (Jun-26) IAS 29 (Jun-25) Excl. IAS 29 2Q26 2Q25 ∆ % Inflation effect Conversion effect Inflation effect Conversion effect 2Q26 2Q25 ∆ % Asset revaluation 1,390 23,551 -94.1% 0 716 0 -152 675 23,704 -97.2% Deffered income taxes asset revaluation 508 -6,811 -107.5% 0 -250 0 53 758 -6,864 -111.0% Net effect from asset revaluation 1,898 16,741 -88.7% 0 465 0 -99 1,433 16,840 -91.5% CLP Million As Reported IAS 29 (Jun-26) IAS 29 (Jun-25) Excl. IAS 29 CLP Million 6M26 6M25 ∆ % Inflation effect Conversion effect Inflation effect Conversion effect 6M26 6M25 ∆ % Revenues 8,135,755 8,202,926 -0.8% 97,591 -33,703 91,139 -195,529 8,071,866 8,307,316 -2.8% Cost of Sales -5,779,497 -5,764,305 0.3% -108,624 25,275 -83,518 135,910 -5,696,148 -5,816,697 -2.1% Gross Profit 2,356,258 2,438,621 -3.4% -11,033 -8,427 7,621 -59,619 2,375,718 2,490,619 -4.6% Gross Margin 29.0% 29.7% -77 bps -11.3% 25.0% 8.4% 30.5% 29.4% 30.0% -55 bps Selling and administrtive expenses -2,020,448 -2,004,754 0.8% -52,498 8,903 -53,411 52,020 -1,976,852 -2,003,362 -1.3% Other income by function 61,718 50,521 22.2% 19 1,076 36 -929 60,624 51,414 17.9% Other gains (losses) 13,359 37,409 -64.3% 2,560 70 1,991 57 10,728 35,362 -69.7% Operating profit 410,887 521,798 -21.3% -60,953 1,622 -43,764 -8,471 470,218 574,033 -18.1% Participation profit (loss) of associates -8,616 -5,945 44.9% 0 0 0 0 -8,616 -5,945 44.9% Net financial income (expenses) -179,588 -173,935 3.2% 14,965 10 13,927 1,901 -194,562 -189,763 2.5% Gains (losses) from foreign exchange -4,555 42,668 -110.7% -808 27 -632 -94 -3,773 43,395 -108.7% Result of indexation -19,686 -39,005 N.A. 40,973 -2,559 -7,986 840 -58,100 -31,859 82.4% Non-operating profit (loss) -212,444 -176,217 20.6% 55,129 -2,522 5,309 2,647 -265,052 -184,173 43.9% Income before taxes 198,442 345,581 -42.6% -5,824 -900 -38,455 -5,824 205,167 389,860 -47.4% Income tax expense -114,372 -116,092 -1.5% -71,321 1,079 -40,314 152 -44,131 -75,930 -41.9% Net Income (loss) 84,070 229,489 -63.4% -77,145 179 -78,769 -5,672 161,036 313,930 -48.7% Net Income attributable to controlling shareholders 39,761 195,266 -79.6% -77,146 179 -78,770 -5,672 116,728 279,708 -58.3% Non-controlling interest 44,309 34,223 29.5% 1 0 1 0 44,308 34,222 29.5% Adjusted EBITDA 639,943 741,936 -13.7% -31,640 356 -13,594 -11,457 671,227 766,987 -12.5% Adjusted EBITDA margin 7.9% 9.0% -118 bps -32.4% -1.1% -14.9% 5.9% 8.3% 9.2% -92 bps Excl. IAS 29As Reported IAS 29 (Jun-26) IAS 29 (Jun-25) 6M26 6M25 ∆ % Inflation effect Conversion effect Inflation effect Conversion effect 6M26 6M25 ∆ % Asset revaluation 45,254 36,018 25.6% 0 539 0 -893 44,715 36,911 21.1% Deffered income taxes asset revaluation -11,103 -10,560 5.1% 0 -189 0 313 -10,914 -10,873 0.4% Net effect from asset revaluation 34,152 25,458 N.A. 0 351 0 -580 33,801 26,038 N.A. CLP Million As Reported IAS 29 (Jun-26) IAS 29 (Jun-25) Excl. IAS 29
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A.5 EBITDA AND ADJUSTED EBITDA RECONCILITATION 27 Second Quarter 2026 | Earnings Release CLP Million 2Q26 2Q25 % 6M26 6M25 % Profit (Loss) 21,452 136,081 -84.2% 161,036 313,930 -48.7% Income Taxes 6,410 50,342 -87.3% 44,131 75,930 -41.9% Net Financial Income 104,358 96,316 8.3% 194,562 189,763 2.5% Depreciation & Amortization 121,663 115,424 5.4% 238,643 235,811 1.2% EBITDA 253,884 398,163 -36.2% 638,372 815,434 -21.7% Result from Indexation Units 53,084 14,131 275.6% 58,100 31,859 82.4% Foreign Exchange Variations 5,279 -14,044 N.A. 3,773 -43,395 N.A. Asset Revaluation -675 -23,704 -97.2% -44,715 -36,911 21.1% Productivity Plan 17,038 N.A. 15,696 N.A. Adjusted EBITDA 328,611 374,546 -12.3% 671,227 766,987 -12.5% Effective from the second quarter of 2026, the Company modified the determination of Adjusted EBITDA, incorporating as an adjustment the expenses associated with the Productivity Plan and transformation costs, recorded under "Other gains and losses". Under this new methodology, Adjusted EBITDA for 2Q26 reached CLP 328,611 million (-12.3% YoY) and CLP 671,227 million for the six months ended June (-12.5% YoY). Under the previous methodology, that is, excluding the Productivity Plan adjustment of CLP 17,038 million in the quarter and CLP 15,696 million in the six-month period, Adjusted EBITDA would have reached CLP 311,573 million in 2Q26 (-16.8% YoY) and CLP 655,531 million in 6M26 (-14.5% YoY). Further detail on these expenses is available in Note 25.4 of the Consolidated Financial Statements.
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28 A.6 CONSOLIDATED STATEMENT OF FINANCIAL POSITION Second Quarter 2026 | Earnings Release MAR 26 DEC 25 MAR 26 DEC 25 MAR 26 DEC 25 Cash and cash equivalents 663,394 637,156 - - 663,394 637,156 Other financial assets, current 43,347 46,666 - - 43,347 46,666 Other non-financial assets, current 47,885 39,435 226 983 47,659 38,452 Trade receivables and other receivables 926,146 965,920 - - 926,146 965,920 Receivables from related entities, current 12,774 14,826 - - 12,774 14,826 Inventory 1,764,421 1,658,377 23,318 6,595 1,741,103 1,651,782 Current tax assets 116,916 89,548 - - 116,916 89,548 Non-current assets held for sale 6,590 13,071 - - 6,590 13,071 TOTAL CURRENT ASSETS 3,581,472 3,464,999 23,543 7,578 3,557,928 3,457,421 Other financial assets, non-current 49,551 185,822 - - 49,551 185,822 Other non-financial assets, non-current 53,797 33,387 1,749 1,307 52,047 32,080 Trade receivable and other receivables, non current 18,833 12,096 - - 18,833 12,096 Equity method investment 357,247 353,969 - - 357,247 353,969 Intangible assets other than goodwill 850,680 846,170 2,476 9,738 848,204 836,432 Goodwill 1,988,200 1,881,839 2,434 14,423 1,985,765 1,867,416 Property, plant and equipment 4,069,570 3,916,058 101,040 611,641 3,968,531 3,304,417 Investment property 4,101,867 3,804,096 58,228 348,613 4,043,639 3,455,483 Current Tax assets, non-current 56,156 43,878 - - 56,156 43,878 Deferred income tax assets 340,099 321,594 - - 340,099 321,594 TOTAL NON-CURRENT ASSETS 11,886,000 11,398,910 165,927 985,723 11,720,072 10,413,188 TOTAL ASSETS 15,467,472 14,863,909 189,471 993,301 15,278,001 13,870,608 Assets As reported IAS29 Excl. IAS29 CLP million CLP million CLP million Paid-in Capital 2,343,320 2,343,320 - - 2,343,320 2,343,320 Retained earnings (accumulated losses) 2,602,059 2,564,510 -73,459 -125,762 2,675,517 2,690,272 Issuance premium 457,665 457,665 - - 457,665 457,665 Treasury stock -161,831 -161,831 - - -161,831 -161,831 Other reserves -191,224 -579,778 194,132 765,426 -385,356 -1,345,204 Net equity attributable to controlling shareholders 5,049,988 4,623,885 120,673 639,664 4,929,315 3,984,221 Non-controlling interest 686,795 650,205 - - 686,795 650,205 TOTAL NET EQUITY 5,736,782 5,274,090 120,673 639,664 5,616,109 4,634,427 TOTAL LIABILITIES AND NET EQUITY 15,467,472 14,863,909 189,471 993,301 15,278,001 13,870,608 MAR 26 DEC 25 MAR 26 DEC 25 MAR 26 DEC 25 Other financial liabilities, current 216,194 254,876 - - 216,194 254,876 Leasing Liabilities, current 185,705 194,389 - - 185,705 194,389 Trade payables and other payables 2,957,185 2,969,024 134 696 2,957,051 2,968,328 Payables to related entities, current 17,405 19,638 - - 17,405 19,638 Provisions and other liabilities 21,008 19,830 - - 21,008 19,830 Current income tax liabilities 33,511 54,819 - - 33,511 54,819 Current provision for employee benefits 153,242 165,237 - - 153,242 165,237 Other non-financial liabilities, current 37,424 91,885 - - 37,424 91,885 Liabilities for assets held for sale 3,534 3,473 - - 3,534 3,473 TOTAL CURRENT LIABILITIES 3,625,209 3,773,170 134 696 3,625,075 3,772,474 Other financial liabilities, non-current 4,428,706 4,173,655 - - 4,428,706 4,173,655 Leasing Liabilities, non-current 869,731 874,005 - - 869,731 874,005 Trade accounts payable, non-current 2,217 3,251 - - 2,217 3,251 Other provisions, non-current 59,321 62,271 -351 16,920 59,672 45,351 Deferred income tax liabilities 686,998 645,100 69,015 336,021 617,983 309,079 Provision for employee benefits, non-current 6,530 10,342 - - 6,530 10,342 Current taxes liabilities, non-current 51 470 - - 51 470 Other non-financial liabilities, non-current 51,926 47,554 - - 51,926 47,554 TOTAL NON-CURRENT LIABILITIES 6,105,480 5,816,649 68,663 352,941 6,036,816 5,463,707 TOTAL LIABILITIES 9,730,689 9,589,819 68,798 353,637 9,661,892 9,236,182 Liabilities and Equity CLP million CLP million CLP million As reported IAS29 Excl. IAS29
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29 Second Quarter 2026 | Earnings Release As of the end of June 2026, total Assets grew by CLP 1,527,858 million (excluding Argentina’s hyperinflation adjustment) compared with December 2025. This is explained by an increase in Current Assets of CLP 100,508 million and in Non-Current Assets of CLP 1,427,350 million. • Current Assets increased mainly due to higher levels of current inventories, which grew by CLP 89,321 million, as well as an increase in cash and cash equivalents of CLP 26,238 million and current tax assets of CLP 27,368 million. This was partially offset by a decrease in trade and other current receivables of CLP 39,774 million. • The growth in Non-Current Assets is attributable mainly to increases in Investment properties of CLP 707,303 million and in Property, plant and equipment of CLP 665,432 million, explained by the progress of investment projects and asset revaluations. Additionally, goodwill increased by CLP 118,349 million. This was partially offset by a decrease in other non-current financial assets of CLP 136,272 million. ASSETS As of the end of June 2026, total Liabilities increased by CLP 425,710 million (excluding Argentina’s hyperinflation adjustment) compared with December 2025. This result is attributable to an increase in Non-Current Liabilities of CLP 573,109 million, partially offset by a decrease in Current Liabilities of CLP 147,399 million. • The decrease in Current Liabilities is explained mainly by lower current non-financial liabilities of CLP 54,462 million, a decrease in other current financial liabilities of CLP 38,681 million and a reduction in current tax liabilities of CLP 21,308 million. Additionally, current provisions for employee benefits decreased by CLP 11,277 million. This was partially offset by an increase in other current provisions of CLP 1,179 million. • The increase in Non-Current Liabilities is attributable mainly to the increase in deferred tax liabilities of CLP 308,904 million and in other non-current financial liabilities of CLP 255,052 million. This was partially offset by a decrease in non-current lease liabilities of CLP 4,274 million and non-current provisions for employee benefits of CLP 3,812 million. LIABILITIES As of the end of the period, Equity increased by CLP 1,102,148 million (excluding Argentina’s hyperinflation adjustment) compared with December 2025. This result is explained mainly by an increase in Other Reserves of CLP 959,848 million and in Non-controlling interests of CLP 157,055 million. This was partially offset by a decrease of CLP 14,754 million in retained earnings. • The increase in Other Reserves is attributable mainly to the translation effects derived from the variation of exchange rates in the countries where the company operates. • The decrease in retained earnings mainly reflects the results of the period and the distribution of dividends made during the year. EQUITY ASSETS, LIABILITIES AND EQUITY EVOLUTION
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30 Second Quarter 2026 | Earnings Release A.7 NET FINANCIAL DEBT RECONCILIATION CLP million JUN 25 DEC 25 JUN 25 Total Financial Liabilities 4,644,901 4,428,530 4,336,752 (-) Cash and Cash Equivalents 663,394 637,156 445,059 (-) Other Financial Assets (Current and Non-Current) 92,898 232,489 233,746 Net Financial Debt 3,888,609 3,558,886 3,657,947 (+) Total Lease Liabilities 1,055,460 1,068,748 1,228,848 Reported Net Financial Debt 4,944,070 4,627,634 4,886,795 A.8 NET LEVERAGE JUN 25 DEC 25 JUN 25 Reported Net Financial Debt (CLP MM) 4,944,070 4,627,634 4,886,795 Net Leverage (times EBITDA) 3.6x 3.1x 3.2x Net Leverage (excl. IAS 29) 3.4x 3.0x 3.2x A.9 DEBT RATIOS (in times) JUN 26 DEC 25 JUN 25 Financial Expense Ratio 3.5 3.9 4.3 Financial Debt / Equity 0.7 0.7 0.7 Total Liabilities / Equity 1.7 1.8 1.8 Current Assets / Current Liabilities 1.0 0.9 0.9
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31 Second Quarter 2026 | Earnings Release A.10 CASH FLOW YTD 2026 | CLP Million Net cash flow from operating activities Net cash flow used in investment activities Net cash flow from (used in) financing activities Supermarkets 363,780 -12,554 -427,913 Shopping Centers 175,792 -173,737 19,747 Home Improvement 66,220 -2,218 -66,300 Department Stores -13,783 -8,570 25,572 Financial Service 210 -472 2,111 Others -187,942 -100,303 359,145 Excl. IAS29 404,277 -297,855 -87,639 IAS29 Adjustment Inflation Adjustment 5,528 -4,591 -2,246 Conversion Adjustment -865 168 587 As Reported 408,939 -302,278 -89,298 YTD 2025 | CLP Million 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 Operating Activities Cash flow from operating activities as of the end of June 2026 was CLP 404,277 million (excluding IAS 29), higher than the CLP 210,740 million of the same period of the prior year, mainly due to higher flow in Supermarkets, Shopping Centers, Home Improvement and Financial Services, as well as an improvement in Department Stores. Investing Activities Cash flow from investing activities totaled CLP (297,855) million (excluding IAS 29) as of the end of June 2026, compared with CLP (128,821) million in the same period of the prior year. This variation is explained mainly by higher investments in Shopping Centers, associated with the development of expansion and remodeling projects, partially offset by lower investments in Supermarkets, Home Improvement and Department Stores.
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32 Second Quarter 2026 | Earnings Release Net cash flow used in financing activities was CLP (87,639) million (excluding IAS 29) as of the end of June 2026, compared with CLP (348,945) million in the same period of the prior year. This variation is explained mainly by higher proceeds from long-term loans, partially offset by higher loan repayments and dividends paid during the period. Financing Activities The Company's cash position as of the end of June 2026 stood at CLP 756,292 million, which represents a decrease of 13.0% compared to December 2025. Asset and equity stake transactions totaled CLP 189,407 million, mainly due to the payment of dividends to shareholders and the disbursement associated with the acquisition of Plaza Central in Colombia. Capex amounted to CLP 210,578 million, compared to CLP 235,528 million in the same period of the previous year. Cash Position 408,939 Cash Position Jun-26 Others 17,050 Short Term Debt Variation 103,900 Lease Payments 134,091 869,644 756,292 75,066 Net Financial Expenses Asset and Participation Transactions 189,407 Capex 210,578 Operating Cash Flow Cash Position Dec-25 -13.0%
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33 Second Quarter 2026 | Earnings Release A.11 WORKING CAPITAL Inventory Days Average Collection Days Average Payment Days Variation in CLP 2Q26 2Q25 ∆ 2Q26 2Q25 ∆ 2Q26 2Q25 ∆ Supermarkets 43.3 44.7 -1.4 12.4 11.0 1.4 40.0 40.0 0.0 Home Improvement 119.5 127.8 -8.4 19.0 16.6 2.4 39.0 42.0 -3.0 Department Store 103.8 108.4 -4.6 9.9 6.8 3.1 44.0 43.0 1.0 Shopping Centers 24.6 26.7 -2.2 30.0 30.0 0.0 Financial Retail 30.0 34.0 -4.0 As of the end of June 2026, inventory days decreased by 1.4 days in Supermarkets, driven mainly by an optimization of stock levels in Peru, Argentina and the United States, partially offset by higher inventories in Brazil. In turn, Home Improvement reduced its inventory days by 8.4 days, reflecting more efficient inventory management, especially in Chile and Colombia. Likewise, Department Stores decreased its inventory days by 4.6 days versus the same period of the prior year, supported by lower stock levels. INVENTORY DAYS Average collection days increased by 1.4 days in Supermarkets, explained mainly by longer collection terms in Argentina and Brazil, partially offset by improvements in Chile and Peru. In Home Improvement, collection days increased 2.4 days, reflecting mainly higher receivables in Chile. In turn, Department Stores increased its collection days by 3.1 days, while Shopping Centers reduced this indicator by 2.2 days, favored mainly by an improvement in collection levels in Peru. AVERAGE COLLECTION DAYS As of the end of June 2026, average payment days remained stable in Supermarkets, due to longer payment terms in Brazil, offset by reductions in Peru and Colombia. In turn, Home Improvement reduced its payment days, explained mainly by shorter terms in Argentina, Colombia and Chile. Likewise, Department Stores recorded a slight increase in its average payment days, while Shopping Centers remained stable. For its part, Financial Retail decreased its payment days, mainly due to shorter terms in Argentina. AVERAGE PAYMENT DAYS
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34 Second Quarter 2026 | Earnings Release A.12 RISK MANAGEMENT As of the end of June 2026, and taking into account hedges through Cross Currency Swaps, 78.8% of the Company’s financial debt was under a fixed rate, mostly composed of short-term obligations and bonds. The remaining portion of the debt was subject to a variable interest rate. Within the variable-rate portion, 68.4% was indexed to local interest rates (either by their initial terms or as a result of derivative agreements). The Company’s hedging strategy includes a periodic review of its exposure to interest-rate and exchange-rate fluctuation risks. INTEREST RATE RISK In the regions where Cencosud operates, most costs and revenues are in local currency. A large part of the Company’s debt is denominated in or converted to CLP through Cross Currency Swaps. As of June 30, 2026, 50.2% of total financial debt was in U.S. dollars. Of this debt, 85.8% was hedged through Cross Currency Swaps or other currency hedges, such as net investment hedges and USD holdings. The Company’s policy seeks to mitigate the risk of exchange-rate variations on net liabilities in foreign currency, using market instruments designed for that purpose. With the effect of all currency hedges, the Company’s exposure to the dollar was 7.1% of total gross debt as of June 30, 2026. CURRENCY HEDGING 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 risks of all kinds, including those related to economic, environmental and social aspects. The Company’s risk management structure is defined by Cencosud’s Board of Directors, and its implementation is carried out at the different levels of the organization. In this context, Cencosud has a “Corporate Internal Audit, Internal Control and Risk Management Division”, which reports directly to the Board of Directors and supports the Corporate General Management in its responsibility to promote the implementation and operation of the Risk Management model, thereby acting as a key element of the control environment within the Company’s Governance and planning structure, which has allowed it to be strengthened, in line with the best global and local practices. For more detailed information on Risk Management, please refer to the 2025 Integrated Annual Report at the following link: 2025 Annual Report GENERAL RISKS
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35 Second Quarter 2026 | Earnings Release A.13 TAX BREAKDOWN CLP Million 2Q26 2Q25 6M26 6M25 Current tax expenses -22,761 -33,090 -72,140 -84,108 Adjustments to previous year tax expense 1,018 Total current tax expenses -22,761 -32,072 -72,140 -84,108 Deferred tax -8,146 -32,107 -42,232 -31,984 Tax Expense (Income), reported -30,907 -64,179 -114,372 -116,092 (-) IAS 29 -24,497 -13,837 -70,242 -40,162 Tax expense (income), excl. IAS 29 -6,410 -50,342 -44,131 -75,930 A.14 ONLINE PENETRATION BY FORMAT AND COUNTRY Penetration % 2Q26 2Q25 Supermarket 10.1% 8.7% SMKT Chile 16.4% 14.5% SMKT Argentina 4.3% 2.9% SMKT USA 9.6% 8.3% SMKT Brazil 3.4% 3.0% SMKT Peru 7.8% 7.0% SMKT Colombia 6.4% 5.6% Home Improvement 12.5% 9.6% Department Stores 34.2% 31.3% TOTAL 12.2% 10.5% 165 Note: Online penetration includes the owned channel and last-mile delivery. Δ bps 145 191 143 135 41 78 81 288 288
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A.15 SSS EXCLUDING E-COMMERCE 36 Second Quarter 2026 | Earnings Release * The previously reported 1Q26 SSS (-5.1%) has been corrected due to a typographic error. This correction has no impact on the Company’s reported financial information. Variation in Local Currency 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Supermarket Chile 0.4% 2.6% 0.5% 0.6% -1.5%* -2.5% Argentina 41.3% 31.6% 31.8% 30.8% 26.8% 26.6% USA 3.7% 2.8% -0.2% -2.0% -2.7% -0.8% Brazil -12.1% -5.2% 0.4% -0.9% -1.7% -8.6% Peru 0.0% 2.8% -0.2% 2.0% 5.1% 5.1% Colombia -1.1% 5.2% 6.0% 4.6% 3.9% 4.4% Home Improvement Chile 8.3% 3.2% -0.3% -1.3% -6.8% -1.2% Argentina 62.4% 45.8% 28.4% 14.8% 10.8% 12.5% Colombia -3.2% 1.7% 23.0% 12.9% 10.6% 4.8% Department Stores Chile 25.0% 9.9% 7.3% -0.5% -12.3% -6.5% Starting in 2Q26, the Company has updated its Same Store Sales (SSS) methodology to include e-commerce sales, reflecting the increasing relevance of the online channel and providing a more comprehensive view of underlying commercial performance. Please refer to the SSS Section in the main section of this Earnings Release.
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37 Second Quarter 2026 | Earnings Release TOTAL AND FOOD INFLATION Total Food and Non-Alcoholic Drinks Country 2Q26 2Q25 2Q26 2Q25 Chile 4.3% 4.1% 4.2% 2.3% Argentina 33.5% 39.4% 34.4% 32.3% USA 3.5% 2.7% 3.0% 3.0% Brazil 4.8% 5.4% 3.8% 6.7% Peru 3.6% 1.7% 3.5% 2.0% Colombia 6.1% 4.8% 6.8% 4.3% A.16 MACROECONOMIC INDICATORS EXCHANGE RATE End of Period Average YTD 26 2Q26 2Q25 % change 2Q26 2Q25 % change 6M26 6M25 % change CLP/USD 922.2 933.4 -1.2% 905.3 943.7 -4.1% 896.6 963.8 -7.0% CLP/ARS 0.62 0.77 -19.5% 0.63 0.78 -19.1% 0.63 0.87 -27.4% CLP/BRL 178.4 171.9 3.8% 179.0 168.5 6.2% 175.0 165.9 5.5% CLP/PEN 270.6 263.7 2.6% 263.1 261.6 0.6% 262.2 261.1 0.4% CLP/COP 0.27 0.23 17.4% 0.25 0.23 10.1% 0.25 0.23 6.5% CLP/URU 23.0 23.4 -1.7% 22.6 23.0 -1.7% 22.6 22.7 -0.1%
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38 Second Quarter 2026 | Earnings Release A.17 GLOSSARY Active Loyalty Customer: person who completed at least one identified transaction through any physical or digital channel in the last 12 months, earning points or benefits through our loyalty programs. ARS: Argentine peso BRL: Brazilian real Inflation Adjustment: IAS 29 accounting standard that accounts for Argentina’s Hyperinflationary Adjustment Cash & Carry: wholesale/retail supermarket stores CLP: Chilean peso Convenience: convenience or proximity stores, under the SPID brand COP: Colombian peso Gross Financial Debt (GFD): total current and non-current financial liabilities + financial and non-financial lease liabilities Net Financial Debt (NFD): total current and non- current financial liabilities + financial and non- financial lease liabilities – cash and cash equivalents – current and non-current financial assets Inventory Days: Inventory / LTM cost of sales * 365 days Average Collection Days: Accounts Receivable / Revenues * tax (19%) * 365 days Average Payment Days: Accounts Payable / Revenues * 365 days EBITDA: Net Income + Income Tax + Net Financial Cost + Depreciation and Amortization Adjusted EBITDA: EBITDA - Asset revaluation + Foreign Exchange Differences + Result of Indexation Units + Productivity Plan EDS: Service Stations EERR: related companies GLA (Gross Leasable Area): the gross leasable area, i.e., the square meters of a space intended for lease Hard Discount: discount supermarket stores Gross Leverage: GFD / Adjusted EBITDA Net Leverage: NFD / Adjusted EBITDA LTM (Last Twelve Months): the last twelve months Adjusted EBITDA Margin: Adjusted EBITDA / revenues HI: Home Improvement M / Bn : million / billion LC (Local Currency): considers the currency of the country analyzed IAS 29: accounting standard that describes the accounting treatment of financial information in hyperinflationary countries IFRS 16: accounting standard that regulates the treatment of operating leases, recognizing them as right-of-use assets and lease liabilities PEN: Peruvian sol Productivity plan: Restructuring costs associated with the Productivity Plan and transformation costs. Detail in Note 25.4 of the Financial Statements. Online Penetration: includes the full online channel, owned plus last milers Reported: results including Argentina’s inflation adjustment SF: Financial Services SM: Supermarkets SSS (Same-Store Sales): sales of the same physical stores in both periods, which were open at least 2/3 of the quarter. Does not include remodelings, closures or store openings SS Transactions: number of transactions made by customers in stores, considering stores open in both periods Occupancy Rates: the square meters of occupied premises over the total square meters of premises available for lease TFM: The Fresh Market DS: Department Stores UF: Unidad de Fomento, the inflation-indexed unit of account in Chile Distributable Net Income: net income (loss) attributable to the parent + inflation effect (IAS 29) – net effect of asset revaluation USD: U.S. dollar