Interim report
Page 1
Results H1-2025 October 2024 – March 2025 Results Q1-2026 October 2025 – December 2025
Page 2
Logista closes the first quarter of 2026 with a 2% increase in adjusted EBIT Financial Highlights1 M€ 1 Oct. 2025 - 31 Dec. 2025 1 Oct. 2024 - 31 Dec. 2024 % Variation Revenue 3,399 3,292 3.3% Economic Sales 454 458 (0.8)% Adjusted EBIT 100 98 2.0% Economic Sales Margin 22.0% 21.4% 60 b.p. Operating Profit (EBIT) 82 86 (5.4)% Net Profit 71 77 (8.4)% Macroeconomic context for the period The period has followed the same dynamics as fiscal year 2025, in a context marked by high macroeconomic and geopolitical complexity. On the geopolitical front, several hotspots of tension persist. The conflict between Russia and Ukraine continues without progress toward a ceasefire, despite diplomatic efforts. At the same time, the confrontation between Israel and Palestine continues, despite the peace plan signed in October and the release of hostages, in a context of instability and ceasefire violations. Added to this is the increased tension between Iran and Western powers, exacerbated in December by declarations of “war” from the Iranian government and threats of military action from the United States, which prolongs global uncertainty. Regarding the macroeconomic environment, the prolonged government shutdown in the United States during October and November generated uncertainty about the pace of economic activity, affecting confidence in international markets. In the Eurozone, growth remained moderate (GDP around 1.3– 1.4%), with a slight improvement in business confidence and a temporary boost to exports due to trade adjustments with the United States. Despite geopolitical tensions, the moderation of inflation in the Eurozone is noteworthy, reaching 2.0% year-on-year in December 2025, in line with the European Central Bank's (ECB) target. At its December 2025 meeting, the ECB decided to keep interest rates unchanged, with the deposit rate at 2.00%, the main funding rate at 2.15%, and the marginal lending facility rate at 2.40%. The ECB has indicated that the rate-cutting cycle that began in June 2024 may have concluded, although it remains attentive to developments in inflation and growth. Q1-2026 Results 2 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800 1 See appendix “Alternative Performance Measures.”
Page 3
Business trend and income statement highlights Consolidated income statement summary2 • Revenues of € 3,399 million, + 3.3% vs. last year, with increases recorded in Iberia and Italy which more than offset the decline of revenues in France. • Economic Sales of € 454 million, (0.8)% vs. the same period of the previous year with improvements in the main businesses of Iberia and in Italy. • Adjusted EBIT of €100 million, + 2.0% vs. the same period of the previous year. • Adjusted EBIT margin on Economic Sales was 22.0% compared with 21.4% in the same period .of the previous year. • Changes in the value of inventories due to increases in tobacco prices in Spain and variations in excise taxes in Italy have had an estimated impact of € 12 million, vs. € 14 million in the same period of the previous year. • Restructuring Costs of €(4) million vs. costs close to zero in the same period of the year before. • Without profit/(loss) from disposal during the period, compared to a profit of € 4 million registered after the sale of various assets in Spain in the same period of the year before. • Operating profit of €82 million vs. €86 million in the same period of the previous year. • Net financial result of €15 million, vs. €18 million, the same period of the year before. • The tax rate of 26.9% vs a tax rate of 25.8% in the same period of the previous year. • Net Profit of €71 million, vs. €77 million during the same period of 2025. Q1-2026 Results 3 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800 2 See appendix “Alternative Performance Measures.”
Page 4
Revenue trend (by segment and business)3 M€ 1 Oct. 2025 - 31 Dec. 2025 1 Oct. 2024 - 31 Dec. 2024 % Variation Iberia 1,312 1,276 2.8% Tobacco and related products 1,079 1,035 4.2% Transport 220 229 (3.8)% Pharmaceutical distribution 67 69 (1.7)% Other businesses 4 4 (0.5)% Adjustments (59) (61) 3.5% Italy 1,223 1,117 9.5% Tobacco and others 1,223 1,117 9.5% France 880 914 (3.8)% Tobacco and related products 880 914 (3.8)% Adjustments (15) (15) (0.6)% Total Revenues 3,399 3,292 3.3% Economic sales trend (by segment and business)3,4 M€ 1 Oct. 2025 - 31 Dec. 2025 1 Oct. 2024 - 31 Dec. 2024 % Variation Iberia 300 302 (0.5)% Tobacco and related products 109 108 0.7% Transport 185 187 (1.0)% Pharmaceutical distribution 28 26 6.5% Other businesses 4 4 (0.1)% Adjustments (26) (24) (8.9)% Italy 106 104 1.1% Tobacco and others 106 104 1.1% France 50 53 (6.0)% Tobacco and related products 50 53 (6.0)% Adjustments (2) (2) 1.5% Total Economic Sales 454 458 (0.8)% As part of the internal reorganization, the management of the business in Poland has been integrated into the French structure. Consequently, the Iberia segment now comprises Spain, Portugal, the Netherlands, and Belgium, while France includes France and Poland. The figures for fiscal year 2025 have been restated in accordance with this new structure to ensure comparability between fiscal years. Q1-2026 Results 4 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800 3 Tobacco and others in Italy includes Logista Pharma Italia. 4 See appendix “Alternative Performance Measures.”
Page 5
Adjusted EBIT and EBIT trends 5,6 M€ 1 Oct. 2025 - 31 Dec. 2025 1 Oct. 2024 - 31 Dec. 2024 % Variation Iberia 60 53 13.1% Italy 29 32 (10.3)% France 11 13 (13.8)% Total adjusted EBIT 100 98 2.0% (-) Restructuring costs (4) 0 n.m. (-) Depreciation of assets acquired (15) (15) 1.9% (+/-) Profit/(loss) on disposal and impairment 0 4 (99.0)% (+/-) Equity-accounted profit/(loss) and other 0 0 4.4% Operating Profit (EBIT) 82 86 (5.4)% Adjusted Operating Profit (or, Adjusted EBIT) is the main indicator employed by Group Management to analyse and measure business performance. This indicator is essentially calculated by discounting from EBIT costs that are not directly related to the Group’s revenue in each period, which facilitates the analysis of trends in operating costs and in the Group’s margins. The table above sets out the reconciliation of Adjusted EBIT and EBIT for the period under analysis of 2026 and 2025. Amortization of assets from acquisitions includes Logista France, Speedlink, Transportes El Mosca, Carbó Collbatallé, Gramma Farmaceutici and BPS. Q1-2026 Results 5 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800 5 See appendix “Alternative Performance Measures.” 6 The figures for 2025 have been restated as a result of the organisational change whereby Poland is now recorded in the same segment as France and not within Iberia.
Page 6
Segment performance A. Iberia: Spain, Portugal, The Netherlands and Belgium7,8,9 M€ 1 Oct. 2025 - 31 Dec. 2025 1 Oct. 2024 - 31 Dec. 2024 % Variation Revenues Iberia 1,312 1,276 2.8% Tobacco and related products 1,079 1,035 4.2% Transport 220 229 (3.8)% Pharmaceutical distribution 67 69 (1.7)% Other businesses 4 4 (0.5)% Adjustments (59) (61) 3.5% Economic Sales Iberia 300 302 (0.5)% Tobacco and related products 109 108 0.7% Transport 185 187 (1.0)% Pharmaceutical distribution 28 26 6.5% Other businesses 4 4 (0.1)% Adjustments (26) (24) (8.9)% Revenues of € 1,312 million was up by + 2.8% vs.2025. Economic Sales of € 300 million registered a slight drop of (0.5)% vs 2025. Q1-2026 Results 6 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800 7 See appendix “Alternative Performance Measures.” 8 Total volumes distributed include cigarettes, RYO, other and Heat not burned units. 9 The figures for 2025 have been restated as a result of the organisational change whereby Poland is now recorded in the same segment as France and not within Iberia. Tobacco • During the period, there has been a 0.7% increase in Economic Sales of the tobacco and related products segment compared to the previous year. • Volumes distributed of cigarettes, plus RYO and others in Iberia have registered a (2.0)% decline vs. the same period of 2025, after a drop in traditional cigarette volumes in Spain of (2.2)% partially compensated by an increase in cigarettes RYO and others in Portugal. • During the period, there have been variations in retail prices of the main tobacco manufacturers of 0.25€/pack. As a consequence, we have estimated a positive impact on results due to variations in the value of inventories of € 17 million (vs. €14 million the previous year).
Page 7
Q1-2026 Results 7 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800 Transport • Revenues of € 220 million (3.8)% vs. previous year and Economic sales of € 185 million, (1.0)% vs. the same period in 2025. • In the long-distance transport segment, we continue to optimize Transportes El Mosca's business through a series of initiatives including a cost reduction program and the optimization of the customer mix, which are already beginning to generate an improvement in El Mosca’s operating results. During the period, the long-haul business was affected by a delay in the fruit season and, for international maritime transport, by export restrictions due to swine flu. Additionally, we continue to work on the integration between Logista Freight and El Mosca's road transport business. • The parcel segment's Economic Sales have remained stable, with growth in both the pharmaceutical and food sectors, offset by a lower volume of refrigerated transport activity at Carbó Collbatallé. Logista continues activities at Carbó Collbatallé to improve profitability and more fully integrate the operations into the logistics network. • Economic Sales in the courier segment post ed high single-digit growth, thanks mainly to the increase in shipments in Spain. Related Products - Retail • Economic Sales in the distribution of convenience products have grown at high single-digit rates. Logista Retail has continued to expand its activity with growth in every distribution channel, with sales increase of its main customers and expanding the number of distributed points of sale. • In the retail segment, there has also been significant growth in the distribution of e- cigarette refills and nicotine pouches in Spain, although they continue to represent a very small percentage compared to traditional tobacco.
Page 8
Adjusted EBIT of €60 million, + 13.1% vs. the same period of the previous year. Restructuring Costs of € (4) million mainly due to the outsourcing of an owned delegation in Spain vs. expenses of close to zero in the same period of the previous year. Capital gains or losses on asset sales of zero vs. €(4) million due to the sale of certain assets in Spain in the same period of the previous year. During the period, amortization of assets derived from the acquisition of Speedlink, Transportes el Mosca, Carbó and BPS was recorded at €(2) million in both periods. Equity-method profits and other (book distribution) totalled € 0.5 million vs. € 0.4 million in the same period of the previous year. EBIT of €55 million against €55 million recorded during the same period of the previous year. Q1-2026 Results 8 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800 Pharmaceutical Distribution • Revenues of € 67 million, (1.7)% vs. the same period of the previous year and Economic Sales of € 28 million, + 6.5%, thanks to the growth in sales mainly in hospitals and in the pharmacy channel, as well as the addition of new clients. Publications Distribution • Revenues reached € 4 million and Economic Sales of € 4 million, remaining practically stable compared to the first quarter of fiscal year 2025.
Page 9
B. Italy10,11,12 M€ 1 Oct. 2025 - 31 Dec. 2025 1 Oct. 2024 - 31 Dec. 2024 % Variation Revenues Italy 1,223 1,117 9.5% Tobacco and others 1,223 1,117 9.5% Economic Sales Italy 106 104 1.1% Tobacco and others 106 104 1.1% Revenues of €1,223 million, registering an increase of 9.5%, while Economic sales reached €106 million with increases of 1.1% vs. the same period of last year thanks to the improvement of tariffs and the increase in sales of new generation products and new value-added services to tobacco manufacturers, which offset the negative impact on the variation in the value of inventories. Q1-2026 Results 9 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800 10 See appendix “Alternative Performance Measures.” 11 Tobacco and others includes the segment of Logista Pharma Italy. 12 Total volumes distributed include cigarettes, RYO, other and Heat not burned units. Tobacco • Volumes distributed of cigarettes plus RYO and other declined by (0.8)% vs. the same period of the previous year, due to a decline of traditional cigarette volume of (3.0)%, compensated by an increase in new product categories and others of 5.8% particularly supported by a growth in heat not burned. • In Italy, there was an increase in excise duties on traditional tobacco, effective from January 1st, 2026, without any change in the retail price of tobacco. • The increase in excise taxes has resulted in an estimated change in the value of inventories of € (5) million compared to a change close to zero recorded in the previous year. • During this period, there has been a significant increase in the volume of e-cigarette refills, as well as in the volume of nicotine pouches, although these still represent a small percentage of the total volume in Italy.
Page 10
Adjusted EBIT of € 29 million, (10.3)% vs. the same period of the previous year, mainly due to the negative impact in the value of inventories. Restructuring costs close to zero for both periods. EBIT of €28 million, (10.2)% vs. the same period of 2025. Q1-2026 Results 10 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800 Related Products - Retail • Economic Sales from the distribution of convenience products, have registered double-digit growth compared to the same period of the previous year, thanks to the good performance in sales of new generation products such as electronic cigarettes and nicotine pouches. Pharmaceutical Distribution • In the pharmaceutical distribution segment in Italy, agreements have been signed with new clients during the period. • During the period, double-digit growth was recorded in the Economic Sales of the pharmaceutical segment in Italy, driven by the increase in customers and services offered, supported by the new warehouse opened at the end of the previous fiscal year.
Page 11
C. France and Poland13,14,15 M€ 1 Oct. 2025 - 31 Dec. 2025 1 Oct. 2024 - 31 Dec. 2024 % Variation Revenues France 880 914 (3.8)% Tobacco and related products 880 914 (3.8)% Economic Sales France 50 53 (6.0)% Tobacco and related products 50 53 (6.0)% Revenues of €880 million, (3.8)% and Economic Sales of €50 million, (6.0)% vs. the same period of the previous year, mainly due to the reduction in volumes distributed of cigarettes and RYO and others. Q1-2026 Results 11 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800 13 See appendix “Alternative Performance Measures.” 14 Total volumes distributed include cigarettes, RYO, other and Heat not burned units. 15 The figures for 2025 have been restated as a result of the organisational change whereby Poland is now recorded in the same segment as France and not within Iberia. Tobacco • The decrease in tobacco volumes distributed in comparison to the same period of the previous year amounted to (8.7)% in cigarettes plus RYO and other. • During the period there was no change on the value of the inventories, just like in the first quarter of 2025. Related products - Retail • In the retail segment in France, Strator has continued to expand by incorporating new customers, but sales have shown a decline of the tobacco related products sales, associated with the decline in traditional tobacco volumes. • In the retail segment, it is worth noting the significant growth in e-cigarette refill volumes, although this still represents a very small percentage compared to traditional tobacco.
Page 12
Adjusted EBIT of €11 million, (13.8)% vs. the same period last year. No restructuring costs in either period. The gain on disposal is close to zero in both years. The same depreciation was recorded for the assets generated in the acquisition of the French business, which amounted to € (13) million in both periods. EBIT of €(2.0) million vs. €(0.3) million the same period of the previous year. Q1-2026 Results 12 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800
Page 13
Financial Trends A. Evolution of Net Financial Results The Group has entered into a reciprocal credit line agreement with its majority shareholder (Imperial Brands Plc.), whereby it lends its surplus cash on a daily basis up to a limit of €3,000 million or receives the cash necessary to meet its payment obligations. The terms of the credit line include: 1. First tranche up to €1,000 million will be remunerated at a fixed rate of 2.865% plus a spread of 0.75%, for a total of 3.615%. 2. Second tranche for balances above €1,000 million and up to €3,000 million, which will be remunerated at a EURIBOR 6-month’s rate plus a spread of 0.75%. Taking into account the fixed rate of 2.865% and the average rate of the 6-month Euribor, the average rate referenced for the period, has been 2.43% to which must be added the marginal rate of 0.75% reaching 3.18% total average rate for the period. During the previous year, the average reference rate for the period was 3.20%, to which the differential of 0.75% should be added totalling 3.95%. The average credit line balance during the period was € 2,080 million vs. € 1,959 million in the previous year. Financial income amounted to € 17 million vs. € 20 million in the same period of 2025 . This reduction is mainly due to the drop in reference rates. Financial expenses for the period amounted to €(2) million vs. €(3) million recorded in 2025. Net financial income/(expense) for the period therefore totalled € 15 million, vs the €18 million obtained during the same period of 2025. B. Net Profit16 Restructuring costs during the period reached €(4) vs. close to zero costs in the previous year, primarily related to the outsourcing of an owned transport delegation in Spain. No capital gain was recorded during the period, compared to a €4 million gain in the previous year from the sale of several properties in Spain. Financial results have been lower than those obtained in the previous year (€ 15 million vs € 18 million), due to a lower average interest rate for the period. Profit Before Tax of €97 million, vs. €104 million reached during the same period of 2025. Tax rate of 26.9% vs. 25.8% for the same period of 2025. Net Profit of the period reached €71 million, vs. €77 million during the previous year. Basic earnings per share amounted to 0.54€ vs. 0.58€, in the previous period, with the number of shares representing capital stock remaining the same. As of December 31 st, 2025, the Company held 647,901 treasury shares ( 0.5% of share capital). Most of these shares were purchased to cover future Q1-2026 Results 13 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800 16 See appendix “Alternative Performance Measures.”
Page 14
commitments to deliver shares under long-term executive remuneration plans. The remaining shares secure the operation of the liquidity agreement. On January 21 st, 2026, Logista announced the termination of the liquidity agreement with Banco Santander, in effect since January 2021, and the signing of a new liquidity agreement with JB Capital, S.A.U., effective from January 22nd, 2026. C. Cash Flow The positive performance of the business during the period has been reflected in an increase in earnings before interest, taxes, depreciation, and amortization (EBITDA) compared to the previous year of 3%. The growth in operating profit, along with the reduction in investments, has allowed for normalized cash flow generation 10.5% higher than that recorded in the previous year. Due to the inherent seasonality of the business, the change in Working Capital is usually negative in the first half of the year, recovering in the second half and typically reaching its peak at year-end, resulting in negative Free Cash Flow. D. Dividend Policy The General Shareholders' Meeting celebrated on February 4 th, approved the distribution of a final dividend for the financial year 2025 of €203 million (1.53 euros per share). This dividend comprises a complementary dividend of €1.45 per share plus an extraordinary dividend of €0.08 per share. Both will be paid together on February 26th, 2026. On July 16 th, 2025, the Board of Directors approved the distribution of an interim dividend for the 2025 financial year, which was paid on August 28 th and amounted to 74 million euros (€0.56 per share), aligned with the interim dividend paid in the previous year. Finally, the total dividend for the 2025 financial year will reach an amount of €277 million (€2.09 per share), equalling last year’s dividend and reaching a payout of 99%. E. Business Outlook17 Logista expects to record mid-single-digit growth in Adjusted EBIT during 2026 fiscal year compared to the figure obtained in 2025 fiscal year. This expected growth excludes the impact of inventory valuation adjustments recorded in both fiscal years, as well as any new acquisitions that may take place during the period. In line with Logista's strategic plan, whose essential focus is to bring additional growth and diversification to the current business base, the Group continues to seek acquisition opportunities of complementary and synergistic businesses. Additionally, Logista is committed to providing return to its shareholders, and therefore the Company intends to distribute a total dividend per share for FY2026 of at least the same amount distributed during FY2024 and FY2025 (€2.09/share) Q1-2026 Results 14 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800 17 See appendix “Alternative Performance Measures.”
Page 15
Appendix Income Statement18 M€ 1 Oct. 2025 - 31 Dec. 2025 1 Oct. 2024 - 31 Dec. 2024 % Variation Revenue 3,399 3,292 3.3% Economic Sales 454 458 (0.8)% (-) Operating cost of logistics networks (307) (316) 2.8% (-) Commercial operating expenses (20) (18) (9.2)% (-) Operating expenditure on research and central offices (27) (25) (6.7)% Total Operating Costs (354) (360) 1.5% Adjusted EBIT 100 98 2.0% Margin % 22.0% 21.4% 60 b.p. (-) Restructuring costs (4) (0) n.m. (-) Depreciation of assets acquired (15) (15) 1.9% (+/-) Profit/(loss) on disposal and impairment 0 4 (99.0)% (+/-) Profit/(loss) from equity-accounted companies and other 0 0 4.4% Operating Profit (EBIT) 82 86 (5.4)% (+) Financial income 17 20 (14.6)% (-) Financial expenses (2) (3) 12.0% Profit/(loss) before tax 97 104 (7.0)% (-) Corporate income tax (26) (27) 3.2% Effective tax rate 26.9% 25.8% 107 b.p. (+/-) Other income/(expenses) – – —% (-) Non-controlling interests – – —% Net Profit 71 77 (8.4)% Q1-2026 Results 15 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800 18 See appendix “Alternative Performance Measures.”
Page 16
Cash Flow Statement19 M€ 1 Oct. 2025 - 31 Dec. 2025 1 Oct. 2024 - 31 Dec. 2024 Variation EBITDA 131 127 4 Restructuring and other payments (3) (3) 0 Net financial income/(expense) 17 20 (3) Normalised taxes (29) (30) 1 Investment (9) (16) 7 Rent payments (19) (18) (1) Normalised Cash Flow 88 80 8 Change in working capital (1,031) (933) (98) Effect of cut-off date on taxes (2) (7) 6 Divestments 0 7 (6) Company acquisitions (M&A) 0 (3) 3 Free Cash Flow (945) (857) (88) Q1-2026 Results 16 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800 19 See appendix “Alternative Performance Measures.”
Page 17
Balance Sheet M€ 31 Dec. - 2025 30 Sept. 2025 Property, plant and equipment and other fixed assets 487 485 Net long-term financial investments 35 34 Net goodwill 1,012 1,012 Other intangible assets 187 201 Deferred tax assets — — Net inventory 2,356 1,893 Net receivables and other 2,119 2,034 Cash and cash equivalents 1,705 2,648 Held-for-sale assets — — Total Assets 7,902 8,308 Shareholders’ funds 713 642 Non-controlling interests — — Non-current liabilities 238 237 Deferred tax liabilities 171 177 Short-term borrowings 66 62 Short-term provisions 7 7 Trade and other payables 6,706 7,182 Liabilities linked to assets held for sale — — Total Liabilities 7,902 8,308 Q1-2026 Results 17 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800
Page 18
Alternative Performance Measures • Economic Sales: equivalent to Gross Profit; used interchangeably by Group Management to refer to the figure obtained by subtracting Raw materials and consumables from Revenue. Group Management considers this figure to be a significant measure of the tariff revenue generated by distribution services that provides investors with a useful view of the Group’s financial performance. M€ 1 Oct. 2025 - 31 Dec. 2025 1 Oct. 2024 - 31 Dec. 2024 Revenue 3,399 3,292 Raw materials and consumables (2,945) (2,834) Economic Sales (Gross Profit) 454 458 • Adjusted EBIT: This indicator is basically calculated by discounting from EBIT costs that are not directly related to the revenue obtained by the Group in each period, which facilitates the analysis of the Group’s operating cost and margin trends. Adjusted EBIT is the main indicator employed by Group Management to analyse and measure business performance. M€ 1 Oct. 2025 - 31 Dec. 2025 1 Oct. 2024 - 31 Dec. 2024 Adjusted EBIT 100 98 (-) Restructuring costs (4) 0 (-) Depreciation of Acquired Assets (15) (15) (+/-) Profit/(loss) on disposal and impairment 0 4 (+/-) Equity-accounted profit/(loss) and other 0 0 EBIT 82 86 Q1-2026 Results 18 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800
Page 19
• Adjusted EBIT Margin on Economic Sales : calculated as Adjusted EBIT divided by Economic Sales (or, interchangeably, Gross Profit). This ratio is the main indicator employed by Group Management to analyse and measure the trend in profits obtained from the Group’s ordinary business activities in a certain period. M€ 1 Oct. 2025 - 31 Dec. 2025 1 Oct. 2024 - 31 Dec. 2024 % Variation Economic sales 454 458 (0.8)% Adjusted EBIT 100 98 2.0% Economic Sales Margin 22.0% 21.4% 60 b.p • Operating Costs: this term comprises logistics network costs, commercial expenses, research expenditure and central office expenses that are directly related to the Group’s revenue in each period. It is the main figure used by Group Management to analyse and measure cost structure trends. It does not include restructuring costs or depreciation charged on assets derived from the acquisitions, which are not directly related to the Group’s revenue in each period. Each segment’s operating costs exclude corporate centre expenditure, which is however included in the Group’s total operating costs so as to show the operating performance of each geographic area. • Non-Recurring Costs: This term refers to costs which may be incurred in more than one period but are not continuous over time (unlike operating costs) and only affect the accounts at a given moment. This figure helps Group Management to analyse and measure the Group’s business trends during each period. • Recurring Operating Costs: This term refers to costs incurred on a continuous basis that allow the Group’s business to continue and are estimated as total operating costs less the non- recurring costs defined in the previous point. This figure helps Group Management to analyse and measure the Group’s business efficiency. • Restructuring Costs: costs incurred by the Group to enhance operational, administrative or commercial efficiency in the organization, including those related to reorganization, lay-offs and the closure or transfer of warehouses or other facilities. • Non-Recurring Results: this refers to results for the year that are not obtained continuously during the year and affect the accounts at a given time. They are included in EBIT. Q1-2026 Results 19 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800
Page 20
Legal Notice This report has been prepared by Logista Integral, S.A. (“Logista” or “the Company”) for information purposes. It is not an offer or an invitation to buy, sell or exchange shares in the Company, nor does it provide advice or recommendations regarding such shares. This document contains certain statements that constitute or may constitute forward-looking representations about the Company, including financial projections and estimates, and related underlying assumptions. Such statements are no guarantee of future performance or results, are subject to risks, uncertainties and other significant factors outside the control of Logista Integral, so that future events and final results may be materially different from those expressed in such statements. Risks and uncertainties include those identified in documents filed by Logista Integral with various bodies that supervise the securities markets on which the shares are listed, and in particular, the Spanish National Securities Market Commission. Analysts and investors are advised not to rely on such forward-looking representations, which have been made based on information and knowledge available at the date of this report. The Company is not obliged to publish any updates or revisions of the representations made should they be affected by unforeseen changes or events, even if such changes or events clearly show that they will not be fulfilled. Finally, this report may contain unaudited or summarized information. This information is subject to, and must be considered in conjunction with, any information available in the public domain, including, if necessary, any other document issued by Logista Integral that contains more comprehensive information. Q1-2026 Results 20 Investor Relations Contact: investor.relations@logista.com, + 34 91 481 9800