Earnings release
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Third Quarter 2026 Highlights Same-Store Sales 4.2% Quick-Service 5.3%, Coffee-Shops 4.4% and Full-Service 2.8% EBITDA Margin* 13.9% Grew by 2.2% vs. 3Q25, a 10-basis point expansion Total Sales* $21,243 million Increased 1.8% vs. 2025, excluding exchange rate effects, sales grew 5.6% Net Income $590 million Increased 15.3% due to lower financing costs and a stronger EBITDA Digital Sales $8.1 billion Digital Sales (E-Commerce, Aggregators, & Loyalty) accounted for 40.7% of total sales, with a solid growth of 11.3% Net Debt / EBITDA 2.5x At the end of 3Q26 Loyalty 9.1 million Active Users** Openings 46 New units opened in the quarter Total Units 4,835 At the end of 3Q26 *Excluding the effect of IFRS 16, as well as the effect related to the restatement for hyperinflation in Argentina **Active users: last 90 days for Starbucks and 180 days for the other formats Earnings Release 3Q 2026
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Earnings Release 3Q26 Message from the CEO – Christian Gurría “In the third quarter of 2026, our business recovered momentum. Consolidated same-store sales grew 4.2%, up from 2.6% in the second quarter, with progressive improvement throughout the period. Mexico was one of the main drivers of this recovery, with positive trends across our key brands, supported by the strength of our portfolio, a rebound in traffic, and strong commercial execution. With these results, we are back to the growth pace we had at the start of the year. In our Coffee-Shops segment, Starbucks Mexico posted a significant recovery, with same -store sales up 3.1%, a 500 -basis-point improvement from the previous quarter. Following the World Cup, traffic recovered gradually and gained strength toward the end of the quarter, driven by a strong commercial calendar that included the Peanuts campaign, the launch of the Unicorn Frappuccino, and our seasonal pumpkin-flavored beverages. These results reinforce our confidence in the strength of the brand and in the strategy we have followed to rebuild traffic profitably, while staying focused on the customer experience and our value proposition. At the same time, we maintained our market share versus 2025, opening 57 stores over the last 12 months with returns on investment above 30%. In Europe, Starbucks France stood out, as commercial initiatives and new marketing campaigns helped bring back traffic and transactions. Same-store sales grew 6.4%, marking meaningful progress after a challenging period. This was complemented by solid performance in Spain and positive trends across our other European markets. In our Quick -Service Restaurant (QSR) segment, same -store sales growth at Domino’s Pizza Mexico accelerated to 4.8%, supported by product innovation and the launch of our new ’Sartén Orilla Suprema’ pizza. In our Full -Service Restaurant (FSR) segment, we delivered solid performance in both Mexico and Europe, driven by strong results across our main brands and more effective commercial execution. The segment has now delivered more than three years of sustaine d growth, backed by product innovation, value platforms, customer preference, and a more targeted promotional strategy, all of which continue to drive traffic and visit frequenc y. This has translated into sustained strengthening of our leadership position and increased market share Year-to-date, cash flow generation has steadily improved, supported by working capital efficiencies and more disciplined investment. This financial strength allowed us to accelerate our share buybacks, and we will continue to participate selectively as long as valuation levels represent an attractive value-creation opportunity. We are entering the final quarter of the year with stronger momentum and encouraging signs in key markets, which allows us to reaffirm the updated guidance we shared in July. As we close out 2026 and look ahead to 2027, we have a solid, resilient, and more profitable brand portfolio, backed by stronger cash flow generation. We will remain focused on protecting profitability and allocating capital with discipline, prioritizing the opportunities that offer the best returns and contribute to long-term value creation for our shareholders. As always, I would like to thank all of our teams for their dedication, hard work, and commitment, which have been essential to strengthening our execution and advancing our priorities.”
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Earnings Release 3Q26 Mexico City, October 20, 2026. Today, Alsea, S.A.B. de C.V. (BMV: ALSEA*) , the leading Quick -Service Restaurant (QSR), Coffee-Shop and Full -Service Restaurant (FSR) operator in Latin America and Europe, released its results for the third quarter of 2026. The information is presented in nominal terms pursuant to International Financial Reporting Standards (IFRS). The comments presented in this report do not include the effect of IFRS 16, as well as the effect regarding restatement due to h yperinflation in Argentina, unless otherwise mentioned. The metrics mentioned in the report are compared against the same period of the previous year unless otherwise indicated. The figures and percentages have been rounded and may not add up as a result. In 2025, Chili's and P .F. Chang's in Chile, as well as TGI Friday's in Spain, were divested. Subsequently, in May 2026, the divestiture of Archie's in Colombia was completed. As a result, these businesses are presented as discontinued operations, and the 2025 figures are presented on a pro forma basis. Consolidated Financial Results PRE-IFRS 16 POST-IFRS16 + RESTATEMENT ARGENTINA 3Q26 3Q25 % Var. 3Q26 3Q25 % Var. Same-Store Sales 4.2% 4.2% N.A 4.2% 4.2% N.A Net Sales $21,243 $20,863 1.8% $21,397 $20,980 2.0% Gross Profit $14,271 $14,031 1.7% $14,377 $14,113 1.9% Gross Margin 67.2% 67.3% (10) bps 67.2% 67.3% (10) bps EBITDA (1) $2,943 $2,879 2.2% $4,396 $4,426 (0.7%) EBITDA Margin 13.9% 13.8% 10 bps 20.5% 21.1% (60) bps Operating Income $1,843 $1,825 1.0% $2,135 $2,043 4.5% Net Income $590 $512 15.3% $545 $367 48.4% Net Income Margin 2.8% 2.5% 30 bps 2.5% 1.7% 80 bps Net Debt/EBITDA 2.5x 2.5x N.A 2.5x 2.6x N.A EPS $0.74 $0.64 15.8% $0.68 $0.46 48.4% Figures in millions of pesos, except EPS 1 EBITDA is defined as operating income before depreciation and amortization Sales and Adjusted EBITDA by Geography Coffee-Shops 4.4% Same-Store Sales 4.2% Quick-Service 5.3% Full-Service 2.8% 57.2%28.6% 14.2% 69.1% 21.9% 9.0% Mexico Europe South America
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Earnings Release 3Q26 MEXICO PRE-IFRS 16 POST-IFRS16 3Q26 3Q25 % Var. 3Q26 3Q25 % Var. Number of Units 2,568 2,502 2.6% 2,568 2,502 2.6% Same-Store Sales 3.6% 3.2% N.A 3.6% 3.2% N.A Sales $12,150 $11,476 5.9% $12,150 $11,476 5.9% Costs $4,332 $4,009 8.1% $4,332 $4,009 8.1% Gross Profit $7,817 $7,467 4.7% $7,817 $7,467 4.7% Gross Margin 64.3% 65.1% (80) bps 64.3% 65.1% (80) bps Operating Expenses $5,056 $4,870 3.8% $4,351 $4,142 5.0% Adjusted EBITDA* $2,761 $2,597 6.3% $3,466 $3,325 4.3% Adjusted EBITDA Margin* 22.7% 22.6% 10 bps 28.5% 29.0% (50) bps Depreciation and Amortization $649 $620 4.7% $1,156 $830 39.2% Operating Income $1,505 $1,550 (2.9%) $1,703 $2,064 (17.5%) Figures in millions of pesos *Adjusted EBITDA does not consider administrative and preoperative expenses; this represents the “Store EBITDA” Alsea Mexico sales represented 57.2% of Alsea's consolidated sales in the third quarter of 2026 and rose 5.9% to $12,150 million pesos, driven primarily by Starbucks' significant recovery, Domino's Pizza's momentum and the strong performance of Full-Service Restaurants, supported by more dynamic commercial execution and the strength of the brands. Gross margin contracted 80 basis points due to higher costs associated with the period’s commercial activity, partially offset by the exchange rate benefit on certain inputs. However, the profitability of these initiatives was protected, allowing us to pre serve the EBITDA margin. Alsea Mexico’s Adjusted EBITDA pre-IFRS16 accounted for 69.1% of consolidated Adjusted EBITDA in the third quarter and increased 6.3% versus the same period last year . This performance was driven primarily by an improvement in operating leverage derived from higher same-store sales and an efficient management of administrative expenses. As a result, the Adjusted EBITDA margin expanded by 10 basis points. Coffee-Shops 3.1% Same-Store Sales 3.6% Quick-Service 4.9% Full-Service 3.2%
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Earnings Release 3Q26 EUROPE PRE-IFRS 16 POST-IFRS16 3Q26 3Q25 % Var. 3Q26 3Q25 % Var. Number of Units 1,496 1,508 (0.8%) 1,496 1,508 (0.8%) Same-Store Sales 3.5% 2.4% N.A 3.5% 2.4% N.A Sales $6,079 $6,371 (4.6%) $6,079 $6,371 (4.6%) Costs $1,610 $1,794 (10.3%) $1,610 $1,794 (10.3%) Gross Profit $4,468 $4,577 (2.4%) $4,468 $4,577 (2.4%) Gross Margin 73.5% 71.8% 170 bps 73.5% 71.8% 170 bps Operating Expenses $3,592 $3,684 (2.5%) $3,087 $3,121 (1.1%) Adjusted EBITDA* $877 $893 (1.8%) $1,381 $1,456 (5.1%) Adjusted EBITDA Margin* 14.4% 14.0% 40 bps 22.7% 22.8% (10) bps Depreciation and Amortization $330 $317 4.3% $747 $1,224 (39.0%) Operating Income $260 $194 33.9% $348 ($154) (325.5%) Figures in millions of pesos *Adjusted EBITDA does not consider administrative and preoperative expenses; this represents the “Store EBITDA” Alsea Europe sales represented 28.6% of the Company's consolidated sales, reaching $6,079 million pesos in the third quarter, representing a 4.6% decrease compared to the same period in 2025. Excluding the impact of exchange rate fluctuations, sales increased by 2.8%, driven primarily by solid performance in Spain, where our main brands and segments saw positive trends , particularly Starbucks, supported by commercial initiatives, product innovation and new consumption occasions, as well as strong results in France and Benelux. Alsea Europe's pre -IFRS16 Adjusted EBITDA in the third quarter of 2026 accounted for 21.9% of the consolidated Adjusted EBITDA, decreasing by 1.8% year over year. Excluding the effect of foreign exchange movements, Adjusted EBITDA grew by 7.3%, reflecting the lower cost of certain inputs and operating expense efficiencies. Quick-Service 2.2% Same-Store Sales 3.5% Coffee-Shops 6.1% Full-Service 2.3%
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Earnings Release 3Q26 SOUTH AMERICA PRE-IFRS 16 POST-IFRS16 3Q26 3Q25 % Var. 3Q26 3Q25 % Var. Number of Units 771 763 1.0% 771 763 1.0% Same-Store Sales 8.2% 11.9% N.A. 8.2% 11.9% N.A. Sales $3,015 $3,016 (0.0%) $3,169 $3,133 1.1% Costs $1,029 $1,029 0.1% $1,077 $1,064 1.2% Gross Profit $1,985 $1,987 (0.1%) $2,092 $2,069 1.1% Gross Margin 65.9% 65.9% - 66.0% 66.0% - Operating Expenses $1,627 $1,595 2.0% $1,486 $1,398 6.3% Adjusted EBITDA* $358 $392 (8.6%) $606 $671 (9.6%) Adjusted EBITDA Margin* 11.9% 13.0% (110) bps 19.1% 21.4% (230) bps Depreciation and Amortization $120 $117 2.2% $358 $328 9.1% Operating Income $79 $81 (2.7%) $84 $133 (36.5%) Figures in millions of pesos *Adjusted EBITDA does not consider administrative and preoperative expenses; this represents the “Store EBITDA” Alsea South America sales accounted for 14.2% of the Company’s consolidated sales in the third quarter of 2026 and remained unchanged from the same period of the previous year, at $3,015 million pesos. This result was mainly due to a more challenging consumer environment in Chile, lower traffic in Argentina, and a temporary slowdown in Colombia, caused by the closure of certain units following the earthquake. Alsea South America's pre-IFRS16 Adjusted EBITDA accounted for 9.0% of consolidated Adjusted EBITDA in the third quarter, decreasing by 8.6% compared to the same period last year. This decrease reflects the loss of operating leverage resulting from negative traffic in both Argentina and Chile. Coffee-Shops 7.6% Same-Store Sales 8.2% Quick-Service 8.6%
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Earnings Release 3Q26 DIGITAL SALES DIGITAL SALES AMOUNT GROWTH 40.7% $8.1 billion +11.3% Of total sales Pesos in the quarter E-Commerce, Aggregators & Loyalty During the third quarter, digital sales reached $8.1 billion pesos, an increase of 11.3% year over year, driven mainly by a higher value per transaction . Year-to- date, digital sales increased 9.0%, reaching $23.5 billion pesos, representing 40.2% of total sales, which underscores the strategic importance of this channel for our business. Our digital ecosystem continued to strengthen, driven by the performance of our loyalty platform, which generated $5.6 billion pesos in sales and reached 9.1 million active users, as well as solid growth in aggregators, particularly in Europe and Mexico. By region, Mexico stood out for the scale and growth of its digital sales, while Europe led in digital channel and loyalty program penetration, reflecting the growing importance of the Company’s digital ecosystem across its markets. NON-OPERATING RESULTS ALL-IN COST OF FINANCING The all-in cost of financing in the third quarter of 2026 closed at $906 million pesos, a decrease of $9 million pesos compared to $915 million pesos in the same period of the previous year. The variance was mainly due to lower financial expenses, partiall y offset by a non -cash foreign exchange loss of $45 million pesos, compared to a gain of $10 2 million pesos in the third quarter of 2025. CAPEX In the first nine months of the year, Alsea made capital investments of approximately $3,006 million pesos, of which $ 2,420 million pesos, equivalent to 80.5% of total investments, were allocated to: • The opening of 36 corporate units during the third quarter and 77 accumulated openings • The renovation and remodeling of existing units of the different brands operated by the Company • Equipment replacement (maintenance CAPEX)
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Earnings Release 3Q26 The remaining $585 million pesos were mainly allocated to: • Strategic technology projects and improvements to internal processes • Digitalization projects, among others BALANCE SHEET As of September 30, 2026, the "other accounts payable" balance totaled $8,916 million pesos, compared to $10,783 million pesos in the same period of the previous year. This decrease primarily reflects the liquidation of financial instruments that we held for bond hedging. CASH FLOW As of September 30, 2026, free cash flow was positive at $955 million pesos. This strong result was mainly driven by lower CAPEX, more efficient working capital management, and reduced interest payments following the debt refinancing completed at the beginning of 2026. DEBT TOTAL DEBT INCL. IFRS 16 TOTAL DEBT EXCL. IFRS 16 NET DEBT INCL. IFRS 16 NET DEBT EXCL. IFRS 16 $50,619 $35,288 $44,358 $29,027 -$1,144 million pesos YoY +$747 million pesos YoY -$2,747 million pesos YoY -$856 million pesos YoY As of September 30, 2026, Alsea's total debt, including IFRS16 leases, decreased by $1,144 million pesos to close at $50,619 million pesos compared to $51,763 million pesos in the same period of the previous year. Excluding the effect of IFRS16, Alsea's total interest - paying debt increased by $747 million pesos to close at $35,288 million pesos, compared to $34,541 million pesos on the same date of the previous year. Debt increased slightly, by approximately 2% excluding IFRS 16, reflecting our decision to fund capital expenditures and support our growth strategy, while also taking advantage of lower long-term borrowing costs. The Company's consolidated net debt, including IFRS16 leases, fell by $2,747 million pesos to close at $44,358 million pesos as of September 30, 2026, compared to $47,105 million pesos at the end of the third quarter of 2025. Excluding the effect of IFRS16, Alsea's net debt decreased by $856 million pesos to close at $ 29,027 million pesos, compared to $29,883 million pesos on the same date of the previous year.
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Earnings Release 3Q26 The following chart presents the debt maturity profile and total debt balance (excluding IFRS16) as of September 30, 2026: *Figures in millions of pesos FINANCIAL RATIOS Below is a summary of key financial indicators calculated as of September 30, 2026. LIQUIDITY • Regarding liquidity, at the end of 3Q26, the Company reported $ 6.3 billion pesos in cash and cash equivalents. • Consolidated equity (pre-IFRS 16) closed at $9.3 billion pesos. Key Information Post-IFRS 16 Stock Market Indicators Financial Ratios 3Q26 3Q25 Var. 3Q26 3Q25 Var. Total Debt / EBITDA(1) 2.8x 2.9x N.A. Book value per share $11.71 $10.79 8.6% Net Debt / EBITDA(1) 2.5x 2.6x N.A. EPS (12 months)(2) $2.27 $2.39 (4.9%) Ratios Referred to in Credit Agreements Shares outstanding at end of period (millions) 800.0 803.4 (0.4%) Excluding IFRS 16 and restatement for hyperinflation in Argentina 3Q26 Price per share at Market Close $45.59 $60.87 (25.1%) Total Debt / EBITDA(1) 3.0x (1) EBITDA last 12 months (2) EPS is earnings per share for the last 12 months. Net Debt / EBITDA(1) 2.5x CASH & CASH EQUIVALENTS EQUITY (PRE-IFRS 16) $6,261 million pesos $9,292 million pesos
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Earnings Release 3Q26 PORTFOLIO TOTAL CORPORATE FRANCHISES COUNTRIES 4,835 3,712 1,123 12 CORPORATE FRANCHISES TOTAL Domino’s Pizza 950 621 1,571 Mexico 518 483 1,001 Spain 321 86 407 Uruguay 5 0 5 Colombia 106 52 158 Burger King 368 0 368 Mexico 168 0 168 Argentina 107 0 107 Chile 93 0 93 Quick-Service Restaurants 1,318 621 1,939 Starbucks 1,715 268 1,983 Mexico 976 0 976 France 111 128 239 Spain 169 30 199 Argentina 134 0 134 Chile 178 0 178 Netherlands 20 72 92 Colombia 72 0 72 Belgium 2 30 32 Portugal 29 4 33 Uruguay 19 0 19 Paraguay 5 0 5 Luxembourg 0 4 4 Coffee-Shops 1,715 268 1,983 Foster’s Hollywood 103 97 200 Ginos Spain 80 35 115 Italianni’s 60 16 76 Chili’s Grill & Bar 75 0 75 P.F. Chang’s Mexico 27 0 27 The Cheesecake Factory 11 0 11 Vips 322 86 408 Mexico 202 31 233 Spain 120 55 175 Full-Service Restaurants 678 234 912 Chipotle 1 0 1 New Brands 1 0 1 UNITS PER COUNTRY MEXICO SPAIN ARGENTINA CHILE FRANCE COLOMBIA 2,568 1,096 241 271 239 230 NETHERLANDS BELGIUM PORTUGAL URUGUAY LUXEMBOURG PARAGUAY 92 32 33 24 4 5
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Earnings Release 3Q26 RELEVANT EVENTS There were no relevant events during the third quarter of 2026. VIDEOCONFERENCE INVESTOR RELATIONS The videoconference to discuss the Company’s results will be held on Wednesday, October 21, 2026, at 8:00 am Mexico City time (10:00 am EST), will be conducted in English, and will include a question-and-answer session. To participate, please register at the following link: https://alseareportederesultados.com/ After the event, the videoconference will be available on our website: www.alsea.net in the "Investors" section. Gerardo Lozoya Julia Torres +52 55 7583 2750 ri@alsea.net
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Earnings Release 3Q26 ANALYST COVERAGE INSTITUTION ANALYST RECOMMENDATION ACTINVER ANTONIO HERNANDEZ BUY BANK OF AMERICA ROBERT E. FORD AGUILAR BUY BARCLAYS BENJAMIN M. THEURER BUY BBVA MIGUEL ULLOA SUAREZ BUY BRADESCO PEDRO PINTO HOLD BTG PACTUAL ALVARO GARCIA BUY CITI RENATA CABRAL BUY GOLDMAN SACHS THIAGO BORTOLUCI HOLD GRUPO BURSÁTIL MEXICANO EMILIANO HERNANDEZ BUY ITAU BBA ALEJANDRO FUCHS BUY JEFFERIES PEDRO BAPTISTA BUY J.P. MORGAN FROYLAN MENDEZ HOLD MORGAN STANLEY JULIA RIZZO HOLD PUNTO CASA DE BOLSA CRISTINA MORALES BUY SANTANDER ULISES ARGOTE BUY SCOTIABANK HECTOR MAYA BUY UBS VINICIUS STRANO BUY This press release contains forward -looking statements regarding the Company's results and outlook. However, actual results could vary materially from these estimates. The forward -looking statements contained in this release should be read jointly with the risk summary included in the Annual Report. This information, as well as future reports made by the Company or any of its representatives, either verbally or in writing, may vary materially from actual results. These projections and estimates, which are m ade with reference to a determined date, should not be taken as a fact. The Company is in no way liable for updating or revising any of these projections and estimates, whether as a result of new information, future events or other associated events. Alsea's shares are traded on the Mexican Stock Exchange under the ticker ALSEA*
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Earnings Release 3Q26 THE FOLLOWING ARE THE FINANCIAL STATEMENTS FOR THE THIRD QUARTER OF 2025 AND 2026. FOR COMPARISON PURPOSES, THE OPERATIONS OF P.F. CHANG’S AND CHILI’S IN CHILE, AS WELL AS FRIDAY’S IN SPAIN, ARE PRESENTED AS DISCONTINUED OPERATIONS IN 2025, WHILE ARCHIE’S IN COLOMBIA IS CLASSIFIED AS A DISCONTINUED OPERATION IN 2026 . ALSEA, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET STATEMENTS POST-IFRS16 AS OF SEPTEMBER 30, 2026, AND 2025 In thousands of nominal pesos September 30, 2026 September 30, 2025 ASSETS Cash and short-term investments $ 6,260,949 7.8% $ 4,657,373 5.7% Clients 1,469,872 1.8% 1,944,554 2.4% Other accounts and documents receivable 611,284 0.8% 976,871 1.2% Inventory 3,378,469 4.2% 3,201,873 3.9% Tax recoverable 2,236,853 2.8% 2,007,513 2.5% Other current assets 900,285 1.1% 695,927 0.9% Affiliates and related parties - 0.0% - 0.0% Current assets 14,857,711 18.5% 13,484,105 16.5% Investments in shares of associated companies $ 189,911 0.2% $ 14,296 0.0% Store equipment, improvements to leased property, and furniture, net 19,819,818 24.7% 19,702,672 24.2% Brand use rights, capital gains and pre-operations, net 38,508,040 48.0% 41,476,091 50.9% Deferred IRS 5,989,169 7.5% 6,016,871 7.4% Other assets 883,228 1.1% 829,698 1.0% Discontinued Operations - 0.0% - 0.0% Total assets 80,247,878 100.0% 81,523,734 100.0% LIABILITIES Providers $ 5,998,615 7.5% 5,361,746 6.6% Tax payable 704,055 0.9% 368,138 0.5% Other accounts payable 8,915,799 11.1% 10,783,215 13.2% Non-executable short-term lease liabilities 3,066,051 3.8% 3,444,364 4.2% Other short-term liabilities - 0.0% - 0.0% Bank loans 670,135 0.8% 6,284,107 7.7% Debt instruments 2,000,000 2.5% 2,650,000 3.3% Short-term liabilities 21,354,654 26.6% 28,891,570 35.4% Bank loans $ 28,636,213 35.7% 7,999,998 9.8% Debt instruments 3,982,008 5.0% 17,606,628 21.6% Deferred tax, net 3,818,884 4.8% 3,838,019 4.7% Non-executable lease liabilities 12,264,205 15.3% 13,777,456 16.9% Other long-term liabilities 820,626 1.0% 742,164 0.9% Non-controlling put option - 0.0% - 0.0% Affiliates and related parties - 0.0% - 0.0% Discontinued operations - 0.0% - 0.0% Long-term liabilities 49,521,935 61.7% 43,964,265 53.9% Total liabilities $ 70,876,589 88.3% 72,855,835 89.4% SHAREHOLDERS’ EQUITY Minority interest $ - 0.0% $ 30,293 0.0% Majority interest: Capital stock 459,459 0.6% 461,146 0.6% Net premium in share placement 4,277,892 5.3% 4,210,712 5.2% Retained earnings 3,468,277 4.3% 2,259,440 2.8% Earnings for the period 1,165,661 1.5% 1,706,309 2.1% Majority interest 9,371,290 11.7% 8,637,607 10.6% Total shareholders’ equity 9,371,290 11.7% 8,667,900 10.6% Total liabilities and shareholders’ equity $ 80,247,878 100.0% $ 81,523,734 100.0%
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Earnings Release 3Q26 ALSEA, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENT FOR THE THREE MONTHS POST-IFRS 16 ENDED SEPTEMBER 30, 2026, AND 2025 In thousands of nominal pesos Three months ended Three months ended September 30, 2026 September 30, 2025 Net Sales $ 21,396,814 100.0% $ 20,980,091 100.0% Cost of sales (7,019,315) (32.8%) (6,867,041) (32.7%) Gross Income 14,377,499 67.2% 14,113,050 67.3% Rent* (421,749) (259,741) Operating expenses (9,981,633) (46.7%) (9,687,363) (46.2%) Depreciation and amortization (2,260,502) (10.6%) (2,382,774) (11.4%) Operating income 2,135,364 10.0% 2,042,913 9.7% All-in cost of financing: Interest expense (1,033,730) (4.8%) (896,703) (4.3%) Banking and derivative instrument fees (219,473) (1.0%) (471,534) (2.2%) Interest paid – net** 63,967 0.3% 7,524 0.0% Change in reasonable value Financial liabilities - - - - Exchange rate loss/(gain) (45,045) (0.2%) 101,833 0.5% (1,234,281) (5.8%) (1,258,879) (6.0%) Participation in associates companies’ results - - - - Pre-Tax Income 901,083 4.2% 784,034 3.7% Tax on earnings (356,272) (1.7%) (377,049) (1.8%) Net Income before discontinued operations 544,810 2.5% 406,985 1.9% Discontinued operations - - (39,985) (0.2%) Consolidated Net Income 544,810 2.5% 367,000 1.7% Non-controlling stake - - 3,958 0.0% Controlling Stake $ 544,810 2.5% $ 363,042 1.7% *Rent, Depreciation and Amortization are included in Operating Expenses **Interest generated from finance leases is included in Interest Paid – net; in turn, Interest Paid also includes interest earned.
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Earnings Release 3Q26 ALSEA, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENTS BY SEGMENT FOR THE THREE MONTHS POST-IFRS 16 ENDED SEPTEMBER 30, 2026, AND 2025 In thousands of nominal pesos MEXICO Three months ended Three months ended September 30, 2026 September 30, 2025 Net Sales $ 12,149,524 100.0% $ 11,475,976 100.0% *Rent (311,269) (2.6%) (229,475) (2.0%) Operating expenses (4,957,723) (40.8%) (4,572,125) (39.8%) Depreciation and amortization (1,155,998) (9.5%) (830,461) (7.2%) Operating Income 1,703,426 14.0% 2,064,393 18.0% All-in cost of financing (912,485) (7.5%) (816,423) (7.1%) Pre-Tax Income 790,941 6.5% 1,247,970 10.9% EUROPE Three months ended Three months ended September 30, 2026 September 30, 2025 Net Sales $ 6,078,784 100.0% $ 6,371,353 100.0% *Rent (7,941) (0.1%) 21,015 0.3% Operating expenses (3,374,007) (55.5%) (3,506,700) (55.0%) Depreciation and amortization (746,751) (12.3%) (1,224,460) (19.2%) Operating Income 347,643 5.7% (154,155) (2.4%) All-in cost of financing (209,359) (3.4%) (272,856) (4.3%) Pre-Tax Income 138,284 2.3% (427,010) (6.7%) SOUTH AMERICA Three months ended Three months ended September 30, 2026 September 30, 2025 Net Sales $ 3,168,506 100.0% $ 3,132,763 100.0% *Rent (102,539) (3.2%) (51,282) (1.6%) Operating expenses (1,649,903) (52.1%) (1,608,538) (51.3%) Depreciation and amortization (357,753) (11.3%) (327,853) (10.5%) Operating Income 84,296 2.7% 132,675 4.2% All-in cost of financing (112,438) (3.5%) (169,601) (5.4%) Pre-Tax Income (28,142) (0.9%) (36,926) (1.2%) *Rent is included in Operating Expenses
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Earnings Release 3Q26 ALSEA, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED CASH FLOW FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026, AND 2025 In thousands of nominal pesos September 30, 2026 September 30, 2025 Var. EBITDA Post IFRS16 $ 12,595,788 $ 12,850,256 (254,468) Lease liabilities (4,465,806) (4,640,969) 175,163 Restatement 4,923 5,836 (912) EBITDA Pre IFRS16 8,134,905 8,215,123 (80,218) CAPEX (3,005,823) (3,788,856) 783,034 Interest paid (2,503,570) (2,944,447) 440,877 Taxes (972,978) (1,415,510) 442,532 Working capital (697,564) (3,003,568) 2,306,005 Free Cash Flow 954,970 (2,937,258) 3,892,229 Bank credits, net 1,134,768 2,447,681 (1,312,913) Dividends (803,000) - (803,000) Buy-back share program (511,992) (250,851) (261,141) Acquisition of non-controlling stake (94,218) (879,348) 785,130 Acquisition or sale of related parties - (101,700) 101,700 Cash Flow after Financing Activities 680,529 (1,721,476) 2,402,005 Cash at the beginning of the period 5,696,451 6,467,932 (771,481) Foreign exchange effect (116,030) (89,083) (26,947) Cash at the end of the period 6,260,949 4,657,373 1,603,576
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Earnings Release 3Q26 ALSEA, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS OF SEPTEMBER 30, 2026 In thousands of nominal pesos September 30, 2026 Argentinian Restatement IFRS 16 September 30, 2026 ASSETS Cash and short-term investments $ 6,260,949 9.7% $ - - $ 6,260,949 7.8% Clients 1,469,872 2.3% - - 1,469,872 1.8% Other accounts and documents receivable 611,284 0.9% - - 611,284 0.8% Inventory 3,364,828 5.2% 13,641 - 3,378,469 4.2% Tax recoverable 2,236,853 3.4% - - 2,236,853 2.8% Other current assets 900,285 1.4% - - 900,285 1.1% Affiliates and related parties - 0.0% - - - 0.0% Current assets 14,844,070 22.9% 13,641 - 14,857,711 18.5% Investments in shares of associated companies $ 189,911 0.3% - - 189,911 0.2% Store equipment, improvements to leased property, and furniture, net 18,922,322 29.2% 897,496 - 19,819,818 24.7% Brand use rights, capital gains and pre- operations, net 24,483,105 37.8% 171,470 13,853,465 38,508,040 48.0% Deferred IRS 5,516,599 8.5% 39,899 432,671 5,989,169 7.5% Other assets 883,228 1.4% - - 883,228 1.1% Discontinued Operations - 0.0% - - - 0.0% Non-Current assets 49,995,166 77.1% 1,108,865 14,286,136 65,390,167 81.5% Total Assets $ 64,839,236 100.0% 1,122,506 14,286,136 80,247,878 100.0% LIABILITIES Providers $ 5,998,615 9.3% - - 5,998,615 7.5% Tax payable 704,055 1.1% - - 704,055 0.9% Other accounts payable 8,915,799 13.8% - - 8,915,799 11.1% Non-executable short-term lease liabilities - 0.0% - 3,066,051 3,066,051 3.8% Other short-term liabilities - 0.0% - - - 0.0% Bank loans 670,135 1.0% - - 670,135 0.8% Debt instruments 2,000,000 3.1% - - 2,000,000 2.5% Short-term liabilities 18,288,603 28.2% - 3,066,051 21,354,654 26.6% Bank loans $ 28,636,213 44.2% - - 28,636,213 35.7% Debt instruments 3,982,008 6.1% - - 3,982,008 5.0% Deferred tax, net 3,818,884 5.9% - - 3,818,884 4.8% Non-executable lease liabilities 1 0.0% - 12,264,204 12,264,205 15.3% Other long-term liabilities 820,626 1.3% - - 820,626 1.0% Non-controlling put option - 0.0% - - - 0.0% Affiliates and related parties - 0.0% - - - 0.0% Discontinued operations - 0.0% - - - 0.0% Long-term liabilities 37,257,731 57.5% - 12,264,204 49,521,935 61.7% Total liabilities $ 55,546,335 85.7% - 15,330,255 70,876,589 88.3% SHAREHOLDERS’ EQUITY Majority interest: Capital stock 459,459 0.7% - - 459,459 0.6% Net premium in share placement 4,277,892 6.6% - - 4,277,892 5.3% Retained earnings 3,322,387 5.1% 1,285,123 (1,139,233) 3,468,277 4.3% Earnings for the period 1,233,164 1.9% (162,617) 95,114 1,165,661 1.5% Majority interest 9,292,902 14.3% 1,122,506 (1,044,118) 9,371,290 11.7% Total shareholders’ equity 9,292,902 14.3% 1,122,506 (1,044,118) 9,371,290 11.7% Total liabilities and shareholders’ equity $ 64,839,236 100.0% 1,122,506 14,286,136 80,247,878 100.0%
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Earnings Release 3Q26 ALSEA, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENTS FOR THE THREE MONTHS AS OF SEPTEMBER 30, 2026 In thousands of nominal pesos *Rent, Depreciation and Amortization are included in Operating Expenses **Interest generated from finance leases is included in Interest Paid – net; in turn, Interest Paid also includes interest earned. Three months ended IFRS Three months ended September 30, Argentinian Restatement 16 September 30, 2026 2026 Net sales $ 21,242,820 100.0% $ 153,993 - 21,396,814 100.0% Cost of sales (6,972,112) (32.8%) (47,203) - (7,019,315) (32.8%) Gross Income 14,270,708 67.2% 106,791 - 14,377,499 67.2% Rent* (1,874,985) - 1,453,236 (421,749) Operating expenses (11,327,953) (53.3%) (106,915) 1,453,236 (9,981,633) (46.7%) Depreciation and amortization (1,099,633) (5.2%) (76,512) (1,084,357) (2,260,502) (10.6%) Operating income 1,843,122 8.7% (76,637) 368,879 2,135,364 10.0% All-in cost of financing: Interest expense (706,215) (3.3%) (3,506) (324,008) (1,033,730) (4.8%) Banking and derivative instrument fees (219,473) (1.0%) - - (219,473) (1.0%) Interest paid – net** 63,967 0.3% - - 63,967 0.3% Changes in reasonable value Financial Liabilities - - - - - - Exchange rate loss/(gain) (44,637) (0.2%) 1,061 (1,469) (45,045) (0.2%) (906,359) (4.3%) (2,445) (325,477) (1,234,281) (5.8%) Participation in associated companies' results - - - - - - Pre-tax income 936,763 4.4% (79,082) 43,402 901,083 4.2% Tax on earnings (346,602) (1.6%) 1,617 (11,288) (356,272) (1.7%) Net income before discontinued operations 590,162 2.8% (77,465) 32,114 544,810 2.5% Discontinued operations - - - - - - Consolidated Net Income 590,162 2.8% (77,465) 32,114 544,810 2.5% Non-controlling stake - - - - - - Controlling stake $ 590,162 2.8% (77,465) 32,114 544,810 2.5%
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Earnings Release 3Q26 ALSEA, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENTS BY SEGMENT FOR THE THREE MONTHS AS OF SEPTEMBER 30, 2026 In thousands of nominal pesos MEXICO Three months ended IFRS 16 Three months ended September 30, 2026 September 30, 2026 Net Sales $ 12,149,524 100.0% - $ 12,149,524 100.0% *Rent (1,016,555) (8.4%) 705,286 (311,269) (2.6%) Operating expenses (5,663,009) (46.6%) 705,286 (4,957,723) (40.8%) Depreciation and amortization (649,409) (5.3%) (506,589) (1,155,998) (9.5%) Operating Income 1,504,728 12.4% 198,697 1,703,426 14.0% All-in cost of financing (728,496) (6.0%) (183,989) (912,485) (7.5%) Pre-Tax Income 776,233 6.4% 14,708 790,941 6.5% EUROPE Three months ended IFRS 16 Three months ended September 30, 2026 September 30, 2026 Net Sales $ 6,078,784 100.0% - $ 6,078,784 100.0% *Rent (512,266) (8.4%) 504,325 (7,941) (0.1%) Operating expenses (3,878,332) (63.8%) 504,325 (3,374,007) (55.5%) Depreciation and amortization (330,456) (5.4%) (416,295) (746,751) (12.3%) Operating Income 259,613 4.3% 88,030 347,643 5.7% All-in cost of financing (151,831) (2.5%) (57,528) (209,359) (3.4%) Pre-Tax Income 107,782 1.8% 30,502 138,284 2.3% SOUTH AMERICA Three months ended Argentinian IFRS 16 Three months ended September 30, 2026 Restatement September 30, 2026 Net Sales $ 3,014,512 100.0% 153,993 - $ 3,168,506 100.0% *Rent (346,164) (11.5%) - 243,625 (102,539) (3.2%) Operating expenses (1,786,613) (59.3%) (106,915) 243,625 (1,649,903) (52.1%) Depreciation and amortization (119,767) (4.0%) (76,512) (161,473) (357,753) (11.3%) Operating Income 78,781 2.6% (76,637) 82,152 84,296 2.7% All-in cost of financing (26,033) (0.9%) (2,445) (83,960) (112,438) (3.5%) Pre-Tax Income 52,748 1.7% (79,082) (1,808) (28,142) (0.9%) *Rent, Depreciation and Amortization are included in Operating Expenses