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Neither this document nor the information contained herein constitutes, in any way, an offer to sell, acquire or exchange securities, nor an invitation to make any such offer, nor should it be construed as a recommendation or advice in relation to securities issued by the Inditex Group. Certain information contained in this document may include forward-looking information or statements regarding intentions, expectations, estimates or forecasts of a future nature. Any statements that are not based on historical information should be considered forward-looking statements, including, without limitation, those relating to the Group’s financial position, business strategy, management plans and operating objectives. Such statements are based on the Company’s best expectations as of the date of issuance of this document and on the information available at that time, and do not constitute any guarantee as to the achievement of the results or future events to which they refer. Forward-looking statements are subject to risks, uncertainties and other relevant factors that could cause actual developments and results to differ, possibly materially, from those expressed or implied in such statements. Accordingly, readers are expressly cautioned not to place undue reliance on these forward-looking statements. Risk factors that may affect such forecasts include, but are not limited to: (i) financial risks, such as the evolution of macroeconomic conditions in the various geographies where the Group operates, fluctuations in market factors (including exchange rates, interest rates, and raw material prices, among others), the financial solvency of counterparties or the competitive environment; (ii) geopolitical risks arising from instability in supply and sales markets or frictions that may affect the logistics chain; (iii) social risks, including changes in the perception that different stakeholders may have of the Group or the industry, the emergence of infectious diseases or the existence of labour disputes; (iv) governance risks, such as legal or regulatory breaches, non-compliance with corporate governance recommendations or deviations from best-practice standards, or the impact of tactical or strategic decisions that prevent the achievement of business objectives; (v) technology risks, such as cyberattacks, operational failures or incidents affecting critical infrastructures, as well as rapid technological obsolescence; and (vi) environmental risks, including those associated with acute natural hazard events, climate change, the transition towards a low-carbon economy or human interaction with the environment. The Company provides more detailed information about these and other factors that may affect forward-looking statements, its activities and its financial results in the regulatory documentation filed with the Spanish National Securities Market Commission (CNMV), available on the Company’s corporate website (www.inditex.com).The risks and uncertainties that may affect the information provided are, in many cases, difficult to foresee and are generally beyond the Company’s control. Therefore, the Company accepts no liability arising from statements regarding forecasts and estimates, except where such liability cannot be limited under applicable law.The Company also undertakes no obligation to publicly update or review such statements or to communicate any revision that may arise from events or circumstances occurring after the date of their issuance. Furthermore, in addition to financial information prepared in accordance with the International Financial Reporting Standards as adopted by the European Union (“IFRS”) and derived from audited financial statements, this document includes certain Alternative Performance Measures (“APMs”), as defined in Commission Delegated Regulation (EU) 2019/979 of 14 March 2019 and in the Guidelines on Alternative Performance Measures published by the European Securities and Markets Authority (ESMA) on 5 October 2015 (ESMA/2015/1415es), as well as certain non-IFRS financial indicators. These measures, which are derived from the financial information of the Inditex Group, are not defined within the applicable financial reporting framework and have not been audited or reviewed by our external auditors or by any other independent third party. Their purpose is to facilitate a better understanding of the Group’s financial performance; however, their definition and calculation methodology may differ from those used by other entities, which may limit their comparability. These measures are complementary in nature and are not intended to replace the metrics defined under IFRS. In addition to financial information, this document also contains sustainability information that may include metrics, statements, targets, commitments, future projections and opinions relating to environmental, social and governance issues. The aforementioned information is subject to measurement uncertainties and has been prepared in accordance with various external and internal materiality assessments, estimates, assumptions and data collection and verification practices or methodologies, which may differ from those used by other companies and which will continue to evolve in the future. Therefore, sustainability information - in particular, future projections which, by their very nature, involve a high degree of uncertainty and inherent risk - should be considered for purely informative purposes. Therefore, the Company does not accept any responsibility derived from this information, except in cases where it could not be limited in accordance with a mandatory rule. Disclaimer 2
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1H2026
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1H2026 SOLID OPERATING PERFORMANCE Sales growth +7.6%, +9.2% in CC Net Income grew +6.8% to €3.0 billion Spring/Summer collections have been very well received Store&Online sales in CC between 1 August and 7 September grew +9%
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Product Omnichannel Network Operational proximity Central Inventory Financial Strength 50+ Sourcing markets €10b+ Net cash position2 700+ Designers creating fashion propositions 70% Products from suppliers +8 years 5-6% Capex Intensity1 98 Markets with physical stores 60%/20% Online returns in store/ Online orders pick-up in store 16 Primary distribution centers Single Central inventory 5 Culture 1H2026 INDITEX TODAY 1average capex intensity 2016-2025. 2Data 31 July 2026 Ambition + Innovation
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6 MARKET SHARE CONCEPTS MARKETS RETAIL OPTIMISATION ONLINE ~2% Global market share 8 Differentiated concepts addressing distinct customer segments 59 Sales <€50mn at least one Non-Zara concept 5% Annual gross space growth 2024-2026 +18% CAGR online sales since 2019 1H2026 LONG-TERM GROWTH POTENTIAL BROADER PROPOSITION Zara Man Standalone Footwear showrooms Oysho Community BSK MMBRS Try-on
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FINANCIAL SUMMARY
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1H2026 SOLID OPERATING PERFORMANCE 1H26 1H25 26/25 Net sales 19,755 18,357 7.6% Gross profit 11,596 10,703 8.3% EBITDA 5,513 5,114 7.8% PBT 3,845 3,601 6.8% Net income 2,980 2,791 6.8% Strong customer response to our fashion proposition € million
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1H2026 SALES CC sales +9.2% At current exchange rates we expect a currency impact on sales around -1% for 2026 € million 1H26 1H25 26/25 Net sales 19,755 18,357 7.6% Gross profit 11,596 10,703 8.3% EBITDA 5,513 5,114 7.8% PBT 3,845 3,601 6.8% Net income 2,980 2,791 6.8%
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1H2026 GLOBAL STORE & ONLINE SALES BREAKDOWN 1H26 1H25 Europe ex-Spain 51.5% 50.7% Americas 17.9% 17.8% Asia & ROW 15.0% 16.0% Spain 15.6% 15.5% All geographies had positive sales evolution in Constant Currency
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1H2026 GROSS PROFIT Gross profit +8.3% to €11.6bn Gross margin of 58.7% Inditex expects a stable (+/-50 bps) gross margin in 2026 1H26 1H25 26/25 Net sales 19,755 18,357 7.6% Gross profit 11,596 10,703 8.3% EBITDA 5,513 5,114 7.8% PBT 3,845 3,601 6.8% Net income 2,980 2,791 6.8% € million
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1H2026 OPERATING EXPENSES Operating expenses grew at 8.3% € million 1H26 1H25 26/25 Op. Expenses (6,048) (5,584) 8.3%
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1H2026 PROFITABILITY EBITDA +7.8% to €5.5bn PBT +6.8% to €3.8bn PBT margin of 19.5% 1H26 1H25 26/25 Net sales 19,755 18,357 7.6% Gross profit 11,596 10,703 8.3% EBITDA 5,513 5,114 7.8% PBT 3,845 3,601 6.8% Net income 2,980 2,791 6.8% € million
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1H2026 WORKING CAPITAL 1H2026 inventory +9% and is considered to be of high quality € million 1H26 1H25 26/25 Inventories 3,789 3,466 9% Receivables 1,158 1,241 (7)% Payables (11,912) (10,773) 11% Op. working capital (6,965) (6,066) 15%
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1H26 1H25 26/25 Funds from Operations (*) 4,075 3,687 11% Change in working capital (470) (1,253) Cash from operations 3,605 2,434 48% Capital expenditure (1,307) (1,269) Free Cash Flow 2,299 1,165 97% 1H2026 CASH FLOW Funds from Operations grew +11% € million *Cash Lease payments fixed charge added back
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CONCEPTS
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1H2026 NET SALES BY CONCEPT € million 1H26 1H25 Zara (Zara, Zara Home & Lefties) 13,783 13,150 Pull&Bear 1,261 1,158 Massimo Dutti 988 895 Bershka 1,678 1,438 Stradivarius 1,573 1,327 Oysho 472 389 Total 19,755 18,357 € million Retail optimisation activities in 51 different markets All concepts continue with exciting new openings
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OUR FASHION PROPOSITION
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ZARA MEXICO LOS CABOS
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ZARA LONDON BOND STREET
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ZARA SEOUL GANGNAM
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ZARA BELGIUM OSTEND
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BERSHKA MIAMI AVENTURA MALL
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MASSIMO DUTTI SEOUL HANNAM
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1H2026 IMPROVING THE STORE TECHNOLOGY ECOSYSTEM Soft tag technology implemented in all our stores
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1H2026 ONLINE Continuous improvements to offer a unique experience to our customers
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1H2026 SUSTAINABILITY Supporting Conservation International, UNHCR and Red Cross Nueva foto
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1H2026 OUTLOOK 2026 Annual gross space growth c.5% in 2026. Positive net space contribution Ordinary capital expenditure of around €2.3 billion
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1H2026 €1.75 DIVIDEND FOR 2025 The dividend will be made up of two equal payments 4 May 2026: €0.875 per share ordinary paid 2 November 2026: €0.875 per share
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1H2026 A STRONG START TO 2H2026 Autumn/Winter collections have been very well received Store&Online sales in CC between 1 August and 7 September grew +9%