Slides
Page 1
Earnings Release 3Q’2026
Page 2
1 During 3Q’26, Grupo Vinte grew revenue by 5.9% and EBITDA by 13.1%, delivered an 18% ROIC, and maintained leverage of 2.62x Net Debt/EBITDA. During the first nine months of the year, Grupo Vinte recorded cumulative growth of 7.9% in revenue, 12.3% in EBITDA, and 3.8% in net income , in line with the annual business plan. During the quarter, Grupo Vinte grew 5.9% in revenue and 13.1% in EBITDA , with a 2.1 p.p. expansion in gross margin, reaching 34.8%. Net income declined 0.6% due to a higher effective deferred income tax rate, with no deterioration in operating performance. Meanwhile, ROIC stood at 18% vs. a WACC below 12%. Grupo Vinte's average home price in 3Q’26 was Ps.1.2 million, 17.5% higher than 3Q'25 , reflecting the Company's positioning in higher -value segments, in line with the Company's business plan. As of September 30th, leverage stood at 2.62x net debt to EBITDA, marking 8 consecutive quarters below 3.00x. As of 3Q'26, Grupo Vinte has a 100% pesos denominated debt structure, with an average tenor of 4.0 years and 72% labeled as sustainable, SDG or EDGE , as well as more than Ps.1,750 million pesos in available credit lines , which allows it to seek to prepay its most expensive loans and continue reducing its financial cost in the medium term. In August, Grupo Vinte successfully placed the VINTE 26 bond for Ps.500 million (twice the amount originally planned), with a 3.5-year term and a fixed rate of 8.34%. The placement had 272 investors (one of the placements with the highest number of investors in Mexico), and an ‘AA’ rating from HR Ratings. VINTE's share has maintained its position in the market liquidity in dex at average market liquidity over the past 7 consecutive months, already ranking at position #69 in September 2026 among all public companies in Mexico. On October 12th, Grupo Vinte made the first payment of the dividends declared in April, of Ps.1.24 per share , out of a total of Ps.1.78 approved (5.1% yield on the share price at that time), with the remaining Ps.0.54 per share payable in February 2027. Fundación Vinte was selected as one of the winning organizations of Home Runs Banamex 2026, a program promoted by Fomento Social Banamex and Fundación Alfredo Harp Helú on its 30th anniversary.
Page 3
2 Message from the Chairman of the Board Grupo Vinte today has a presence in 12 states across the country through its three brands, Vinte, Javer, and Derex, with a volume of approximately 15,000 homes per year. The synergies among the three companies are translating into value creation through improved operating margins, a lower cost of financing, and the strengthening of our land reserves in the highest-growth markets. During the third quarter of 2026, Grupo Vinte maintained a ROIC of 18%, versus a WACC below 12%. This spread reflects our discipline in capital allocation and the Group's ability to grow profitably, while maintaining the social and environmental purpose that has characterized us since our founding. In August, Green Street, a California-based firm with more than 40 years of experience in real estate market analysis and research, published its first study of Mexico's housing sector. The report includes a review of the sector's and the country's fundamentals, as well as a detailed analysis of Grupo Vinte's track record, and is available on our website. On October 12th, we made the first payment of the dividend approved in April, and the second payment will be made before the end of February 2027 (the total amount is equivalent to 35% of 2025 net income, above the 25% minimum established in our policy). These ongoing dividends reflect our commitment to generating long-term value for our shareholders. We are optimistic about the year-end, with cumulative results in line with our business plan. Housing demand in Mexico has solid, long-term fundamentals. Grupo Vinte today has the scale, financial structure, and geographic presence to continue growing and creating value for our shareholders and for Mexican families. Sergio Leal Aguirre, Chairman of the Board
Page 4
3 Message from the Chief Executive Officer René Martínez Martínez, Chief Executive Officer In the first nine months of 2026, Grupo Vinte grew 7.9% in revenue and 12.3% in EBITDA, with EBITDA margin expanding from 17.6% to 18.3%. These results reflect the strength of our business platform, which integrates Vinte, Javer, and Derex, and the progress in capturing synergies across the three brands. During the third quarter, revenue grew 5.9% and EBITDA increased 13.1%, in line with the Group's business plan. The increase in the average sale price and greater construction efficiencies across the three brands raised gross margin from 32.7% to 34.8%. The average price of homes titled increased 17.7% versus the third quarter of 2025, offsetting the 10.1% decline in the number of homes titled. This performance reflects our positioning in the Ps.1.0 to Ps.1.5 million segment, given the progress in formal employment, the increase in minimum wages, and the boost provided by Infonavit to schemes such as Unamos Créditos. Sales through this scheme represented 23% of our revenue in the quarter, compared to 19% in the same period of the prior year. During the quarter, we also began titling homes in Morelos, bringing Grupo Vinte's presence to 12 states across the country and strengthening the geographic diversification of our revenue. Looking ahead to the 2026 year-end, our priorities are to continue consolidating synergies across Vinte, Javer, and Derex, strengthen our margins, and maintain disciplined capital allocation. We are working to close the year in line with our business plan, which includes approximately 10% revenue growth, a reduction in leverage, and positive cash flow from operations.
Page 5
4 During the first nine months of 2026, Grupo Vinte grew 7.9% in revenue, 12.3% in EBITDA, and 3.8% in net income, in line with the business plan. Income Statement % Growth Margins (Ps. thousands) Jan-Sep '25 Jan-Sep '26 9M 2026 Jan-Sep '25 Jan-Sep '26 Homes (titled units) 11,101 9,817 (11.6%) Avg. Price 988.8 Avg. Price 1,204.2 Revenues 11,055,610 11,928,194 7.9% 100.0% 100.0% Cost of Sales (excluding interest) 7,476,599 7,871,516 5.3% 67.6% 66.0% Gross Profit 3,579,011 4,056,678 13.3% 32.4% 34.0% SG&A 1,672,422 1,915,690 14.5% 15.1% 16.1% Other expenses (revenue) (8,633) (581) (93.3%) (0.1%) (0.0%) EBITDA Adjustments 29,243 41,215 EBITDA 1,944,466 2,182,785 12.3% 17.6% 18.3% (-) EBITDA Adjustments (29,243) (41,215) Dep y amortization 109,592 121,868 11.2% 1.0% 1.0% Comprehensive Financial Result 406,812 508,860 25.1% 3.7% 4.3% Share of JV Results (4,467) (3,654) (18.2%) (0.0%) (0.0%) Earnings Before taxes 1,394,352 1,507,188 8.1% 12.6% 12.6% Income tax 419,881 495,761 18.1% 3.8% 4.2% Net Income 974,470 1,011,427 3.8% 8.8% 8.5% Non-controlling interest 2,541 3,533 39.1% 0.0% 0.0% Net Income controlling part 971,930 1,007,894 3.7% 8.8% 8.4% # of shares (millions) 279.2 281.4 0.8% Earnings per share 3.48 3.58 2.9% Price Change: +21.8% 1 The adjustments considered in EBITDA include share -based payments, employee profit sharing (PTU), and other income related to J aver 2026 Vinte + Javer + Derex 2025 Vinte + Javer
Page 6
5 During 3Q’26, Grupo Vinte grew 5.9% in revenue and 13.1% in EBITDA, in line with the business plan, although net income declined 0.6% due to an increase in the (deferred) income tax rate. Income Statement % Growth Margins (Ps. thousands) Jul-Sep '25 Jul-Sep '26 3Q 2026 Jul-Sep '25 Jul-Sep '26 Homes (titled units) 3,967 3,565 (10.1%) Avg. Price 1,031.1 Avg. Price 1,211.5 Revenues 4,117,127 4,361,109 5.9% 100.0% 100.0% Cost of Sales (excluding interest) 2,772,617 2,845,490 2.6% 67.3% 65.2% Gross Profit 1,344,510 1,515,619 12.7% 32.7% 34.8% SG&A 584,995 660,890 13.0% 14.2% 15.2% Other expenses (revenue) 1,449 1,228 (15.3%) 0.0% 0.0% EBITDA Adjustments 15,828 22,087 EBITDA 773,893 875,588 13.1% 18.8% 20.1% (-) EBITDA Adjustments (15,828) (22,087) Dep y amortization 37,940 40,502 6.8% 0.9% 0.9% Comprehensive Financial Result 190,807 231,262 21.2% 4.6% 5.3% Share of JV Results (1,091) – (100.0%) (0.0%) – Earnings Before taxes 528,228 581,737 10.1% 12.8% 13.3% Income tax 148,536 204,461 37.7% 3.6% 4.7% Net Income 379,691 377,276 (0.6%) 9.2% 8.7% Non-controlling interest 363 4,719 >100% 0.0% 0.1% Net Income controlling part 379,328 372,557 (1.8%) 9.2% 8.5% # of shares (millions) 279.2 281.4 0.8% Earnings per share 1.36 1.32 (2.6%) Price Change: +17.5% 1 The adjustments considered in EBITDA include share -based payments, employee profit sharing (PTU), and other income related to J aver 2026 Vinte + Javer + Derex 2025 Vinte + Javer
Page 7
6 The income tax rate on earnings before taxes increased from 28% in 3Q’25 to 35% in 3Q’26. 34.5% 35.7% 34.9% 13.6% 36.1% 28.0% 28.1% 16.6% 31.4% 31.5% 35.1% 29.6% 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 2Q'26 3Q'26 Income tax/Earnings before taxes Avg. income tax rate (2024-3Q'26)
Page 8
7 Grupo Vinte's average price grew 17.7% in 3Q’26. Average price July to September Average Price 3Q’25 3Q'26 Vs. 3Q'25 (Figures in thousands) Vinte $1,372 $1,546 12.7% Javer $975 $1,190 22.1% Derex $975 $1,235 26.7% Grupo Vinte $1,029 $1,212 17.7% 1 3Q’25 Proforma average price including Derex.
Page 9
8 990 1,009 1,062 1,156 1,195 1,239 1,255 1Q 2Q 3Q 4Q 1Q 2Q 3Q 2025 2026 Up to 500k 500k to 700k 700k to 1 million 1.0 to 1.5 million 1.5 to 2.0 million More than 2 million Vinte’s Revenue Breakdown by Price Range Average price1 (in thousands of pesos) Proforma V+D Grupo Vinte has significantly grown the titling of homes priced between Ps.1.0 and Ps.1.5 million. 1 Average price including land trust agreements (i.e., the trust sale price rather than the net revenue after land cost, as considered in the Income Statement).
Page 10
9 14% 14% 14% 17% 17% 15% 14% 17% 17% 19% 17% 17% 22% 23% 49% 49% 46% 42% 43% 42% 41% 5% 5% 6% 5% 5% 6% 5% 6% 5% 6% 7% 5% 5% 6% 10% 9% 9% 11% 13% 10% 12% 3,370 3,722 4,137 4,543 3,409 4,000 4,294 1Q 2Q 3Q 4Q 1Q 2Q 3Q 2025 Proforma 2026 Revenue from titling homes in million pesos Other Without mortgage Fovissste Infonavit (traditional) Unamos Créditos Banks *Unamos Créditos Infonavit: a new Infonavit program that allows two people to combine their loans without being married. This means a mortgage can be obtained with family members, friends, or a partner in a common-law relationship (source: Milenio). Others include Cofinavit/Alia2/Info -Fovissste/CFE/Pemex/Others Vinte’s Revenue Breakdown by Financing Source V+D With lower priced housing availability reduced, fewer homes were titled through Infonavit Tradicional, while the rest of the products remained stable.
Page 11
10 3,370 3,722 4,137 4,543 3,409 4,000 4,294 1Q 2Q 3Q 4Q 1Q 2Q 3Q 2025 Proforma V + D 2026 Morelos Puebla Baja California Tamaulipas Sonora Hidalgo Quintana Roo Jalisco Aguascalientes Querétaro Estado de México Nuevo León Grupo Vinte Revenue Distribution by State Revenue from titling homes in million pesos Grupo Vinte maintains its geographic diversification across 12 different states, having started titling homes in Morelos in 3Q’26.
Page 12
11 The balance sheet showed no significant changes during the quarter, in line with the Company’s business plan. Balance Sheet (million pesos) Dec-25 Jun-26 Sep-26 Growth %vs Jun’26 Growth %vs Dec’25 Cash and Temporary Investments 1,972 1,613 1,379 (14.5%) (30.1%) Accounts Receivables 1,858 1,548 1,681 8.6% (9.5%) Real State Inventory 19,340 20,664 21,670 4.9% 12.0% Property, Plant & Equipment 361 366 381 4.3% 5.6% Other Assets (Advance payments for land and projects, deferred taxes, Investment in Proptech stocks, Xante’s inventory, recoverable taxes, offices) 2,838 2,657 2,766 4.1% (2.5%) Goodwill 380 380 380 – – Total Assets 26,749 27,228 28,257 3.8% 5.6% Accounts Payable, Creditors and Others 3,307 3,831 4,228 10.4% 27.9% Customer Prepayments 118 115 120 4.3% 1.4% Deferred Taxes 3,618 3,574 3,789 6.0% 4.8% Liabilities for Factoring Operations of AxP 1,704 1,597 1,789 12.0% 5.0% Liabilities for Factoring Operations of AxR 589 440 299 (32.1%) (49.3%) Total Liabilities (No Debt) 9,336 9,557 10,225 7.0% 9.5% Corporate Bank Loans 3,080 3,418 3,142 (8.1%) 2.0% Corporate Bonds 6,255 5,856 6,148 5.0% (1.7%) Total Debt 9,335 9,274 9,289 0.2% (0.5%) Total Liabilities 18,671 18,831 19,515 3.6% 4.5% Capital Stock 3,488 3,489 3,491 0.1% 0.1% Reserve for Share Repurchase 167 216 179 (17.0%) 6.9% Retained Earnings 4,275 4,545 4,920 8.3% 15.1% Total Equity Attributable to Controlling Interest 7,930 8,249 8,590 4.1% 8.3% Non-Controlling Interest 148 147 152 3.3% 2.5% Net Debt 7,363 7,661 7,911 3.3% 7.4%
Page 13
12 EBITDA 875,588 +Change in Accounts Receivable (132,524) -Change in other assets (prepayments for land & equipment) (126,621) -Change in Accounts Payable 447,319 -Change in Customer Prepayments 5,003 -Change in Total Inventories (1,006,350) =Operating Cash Flow generated from July through September 2026 (including long -term land) 62,416 (Ps. Thousands) Cash Flow from Operating Activities (3Q 2026) Grupo Vinte had positive operating cash flow of Ps.62 million during 3Q’26, in line with the annual business plan.
Page 14
2.39x2.86x2.77x2.78x 2.60x 2.90x2.98x 3.50x 2.79x 3.20x 2.88x 3.18x 2.79x2.86x 2.97x 3.24x 2.90x 3.19x 2.97x 3.83x 2.64x 2.76x2.91x2.78x 2.58x 2.54x2.61x 2.62x 3.00x 2019 LTM Mar'20 LTM Jun'20 LTM Sep'20 2020 LTM Mar'21 LTM Jun'21 LTM Sep'21 2021 LTM Mar'22 LTM Jun'22 LTM Sep'22 2022 LTM Mar'23 LTM Jun'23 LTM Sep'23 2023 LTM Mar'24 LTM Jun'24 LTM Sep'24 2024 LTM Mar'25 LTM Jun'25 LTM Sep'25 2025 LTM Mar'26 LTM Jun'26 LTM Sep'26 Net Debt / EBITDA 13 *Historically, Vinte has never classified leases as financial debt (the amount has historically been very low for Vinte), so the 3Q’26 figure does not include leases either. If leases were included, the ratio would stand at 2.68x, as we have 185 million pesos in leases. Proforma Vinte + Javer Proforma Vinte + Derex Net debt-to-EBITDA ratio stood at 2.62x as of September 30th, marking 8 consecutive quarters below 3.00x. Leverage calculation 3Q 2026 Total Debt (BS) 9,289,771 Cash & equivalents (1,378,735) Net Debt 7,911,036 EBITDA (12 months proforma) 3,023,740 Net Debt / EBITDA 2.62x
Page 15
14 Grupo Vinte currently has a stable ROIC and solid net income growth. 532 470 510 664 993 1,157 1,459 1,305 1,471 0 200 400 600 800 1,000 1,200 1,400 1,600 2019 2020 2021 2022 2023 2024 2025 LTM Sep'25 LTM Sep'26 ProForma Net Income for Vinte + Javer since 2019 (In million pesos) ROIC (EBIT pretax) 2025 = 18.08% ROIC (EBIT pretax) 3Q’26 = 18.02% ROE = 18.37% WACC = 11.71% * Net income from the controlling interest * 2025 including Derex
Page 16
15 52% 11% 9% 1% 5% 22% 161 990 2,111 1,297 2,085 709 1,226 821 Cash & Equivalents $1,379 Cash + available credit facilities $3,134 2026 2027 2028 2029 2030 2031 2032 2033 2034 20XSDG Bonds Development Banks Mexican Banks Mayakoba credit 23XSDG 24XSDG 25V 25-2V Grupo Vinte's average debt maturity stood at 4.0 years, and we have more than Ps.1,750 million in available long-term credit lines to continue our investments in line with the business plan. Drawn Debt Maturities and available Credit Lines In millions pesos, as of September 30, 2026 Bono VINTE 26 Sustainable debt / SDG / EDGE 72% sustainable debt / SDG / EDGE 100% of debt in pesos 69% of total debt at floating rate 11% with real estate collateral $9,401mm 7 Commercial Banks 6 Sustainable, Green Bonds & SDG Total Debt as of September 30, 2026 Average debt maturity: 4.0 years Current Availability of Open Lines Actinver 250 BBVA 500 Banregio 70 BID Invest (Xante) 85 Bancoppel 100 HSBC 100 BX+ revolvente 200 BX+ (Javer) 250 Actinver (Javer) 100 Bajío (Javer) 100 Total 1,755 *Debt balance before unamortized debt issuance costs.
Page 17
16 43% 16% 8% 8% 26% Issuance amount Ps.$500 MM 259 investors with <1.0% 272 investors 257 individual investors Ps.$500 MM amount issued 1.9x bid-to-cover ratio1 Approx. 100 bps Reduction in fixed financing costs compared to a traditional issuance with a SWAP Participation detailPromotion reach 1 Roadshow Meetings 18 meetings with advisory offices 2 Webinar Digital event that brought together nearly 500 potential investors 3 Breakfast Breakfast with the most relevant GBM advisory offices Notes: 1) Excluding over-allotment amount; 2) Only considers GBM clients; Min allocation: Ps. $6,100; Max allocation: Ps. $78,482,500 Ps.$436k Median allocated amount per client2 8 investors with 1.0 - 3.0% 2 investors with 3.0 - 5.0% 1 investor with 7.0 - 10.0% 2 investors with >10.0% (Actinver) The VINTE 26 bond was successfully placed in August with the participation of 272 investors, one of the placements with the highest number of investors in Mexico’s history, at a fixed rate of 8.34%. Annual fixed rate 8.34%
Page 18
17 6.5 6.4 6.5 6.6 7.1 7.4 7.7 7.8 8.1 8.4 8.6 8.7 8.7 11.2 11.0 10.8 10.5 9.5 8.8 8.5 8.3 8.2 8.2 8.3 8.3 8.2 3M 6M 15Y 20Y 30Y 9M 1Y 2Y 3Y 4Y 5Y 7Y 10Y December 20232Today 1 11.1 9.9 9.5 9.4 9.1 8.9 8.9 9.0 9.0 9.0 9.0 7.1 7.5 8.1 8.4 8.7 8.9 9.3 9.6 9.7 9.8 9.8 1Y 2Y 3Y 4Y 20Y 25Y 30Y 5Y Today 1 8Y 10Y 15Y December 20232 Source: Bloomberg Notes: 1) Rates as of October 19, 2026; 2) Rates as of December 31, 2023 Floating-rate funding cost base: Historical and Current TIIEF Swap Levels (%) Fixed-rate funding cost base: MBONO historical and current movement (%) Mexico’s interest rate curves are currently inverted relative to their December 2023 levels.
Page 19
18 Grupo Vinte maintained fixed rates during periods of high interest rates, and with the decline in rates since 2024 it has recently increased its share of floating-rate debt. 31% 69% Total Debt 2026 Fixed rate Floating rate 74% 26% Total Debt 2023 Fixed rate Floating rate (as of September 30, 2026) TIIE rate Dec’2023: 11.50% Current TIIEF rate: 6.51% (Including Vinte, Javer and Derex) $210mm in annual interest savings from spread and lower Cetes, as well as a lower % of fixed-rate debt (assuming the same debt amount in 2023 as in 2026).
Page 20
19 Cetes 28 6.23% 10.32% 9.63% Inflation 3.45%Construction Inflation 5.71% – 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 10.00% 11.00% Source: Banxico & CNBV Benchmark Rates (28-Day Cetes, Average Mortgage Origination Rate & Inflation) CETES interest rate has been steadily declining over the past 24 months, and current inflation stands at 3.45%. *Cetes a octubre 2026, inflación general e inflación de construcción a septiembre de 2026 & tasa de originación hipotecaria promedio a agosto 2026 Bank Mortgage Origination Rate
Page 21
20 Housing prices have continued to rise over the last 12 months at twice the rate of inflation, although at a different pace in each state. • Since 2013, housing prices in Mexico have grown at an average pace of nearly twice the rate of inflation, reflecting demand o utpacing supply. Source: SHF (Federal Mortgage Corporation), INEGI (National Institute of Statistics and Geography) Notes: 1) Federal Mortgage Corporation; 2) National Consumer Price Index Key States in the Country Growth Jun’26 vs Jun’25 Compound Annual growth rate Mar’13 – Jun’26 National 7.3% 7.9% Aguascalientes 9.9% 8.0% Baja California 8.6% 9.1% Coahuila 7.8% 7.6% Chihuahua 7.4% 8.0% CDMX 3.4% 8.0% Hidalgo 8.3% 6.8% Jalisco 10.2% 8.6% Estado de MX 5.5% 6.4% Nuevo León 7.6% 8.3% Puebla 8.3% 8.0% Querétaro 4.8% 7.8% Quintana Roo 9.8% 9.5% Sonora 9.3% 7.9% Tamaulipas 12.5% 8.1%
Page 22
21 Since August 2025, formal employment has increased by 1.2 million workers, with wages continuing to rise. Source: IMSS 22.4 23.6 24.0 24.8 Ago-24 Sep-24 Oct-24 Nov-24 Dic-24 Ene-25 Feb-25 Mar-25 Abr-25 May-25 Jun-25 Jul-25 Ago-25 Sep-25 Oct-25 Nov-25 Dic-25 Ene-26 Feb-26 Mar-26 Abr-26 May-26 Jun-26 Jul-26 Ago-26 Sep-26 20.5 21.0 21.5 22.0 22.5 23.0 23.5 24.0 24.5 25.0 2,651 9,451 2018 2026 Source: Banxico / Government of Mexico Monthly Minimum Wage 3.6x Insured Workers (IMSS)
Page 23
22 Housing production in Mexico has been showing a growth surge since May 2026. Source: RUV Monthly Production Production (thousands of homes) 302 264 217 210 181 151 164 136 131 128 138 147 96 104 7,407 10,087 11,034 10,761 11,250 11,278 10,955 11,159 11,662 7,989 9,917 11,514 10,460 12,675 13,574 11,522 13,627 12,581 January February March April May June July August September Production 2025 Production 2026 +12.7% +20.4% 95,593 homes 103,859 homes +5.2% +22.1% +7.9%
Page 24
23 3.31% 4.28% 3.93% 3.28% 1.63% 2.61% 2.63% 2.39% 2.76% 5.61% 0.87 1.12 1.14 0.93 0.46 0.74 0.83 0.74 0.90 1.78 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Vinte Dividends Dividend Yield* Dividends per share Over the past 10 years, Vinte's share performance has kept pace with the IPC, even outperforming it during years of uncertainty, and the share's liquidity has increased following the acquisition of Javer. 179 175 Sep-16 May-17 Dec-17 Jul-18 Feb-19 Sep-19 Apr-20 Nov-20 Jun-21 Jan-22 Aug-22 Mar-23 Oct-23 May-24 Dec-24 Jul-25 Feb-26 Oct-26 Vinte Total Shareholder Return Base 100 in Sep 2016 Includes returns from price changes and dividends Vinte IPC 100 *Dividend Yield calculated using the share price at the end of each period. 1.95 2.32 2.69 2.59 1.53 1.68 1.86 1.98 4.16 5.19 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Earnings per share (MXN) 69 0 40 80 120 160 Vinte Market Liquidity Index High Market Moderate Market Liquidity Low Market Liquidity Minimum Market Liquidity
Page 25
During 9M’26, Derex grew 44% in revenue, 55% in EBITDA, and 96% in net income. 24 Derex Income Statement Figures % Growth Margins (Ps. thousands) Jan-Sep '25 Jan-Sep ’26 9M 2026 Jan-Sep '25 Jan-Sep ‘26 Homes (titled units) 479 541 12.9% Avg. Price 911.5 Avg. Price 1,162.2 Revenue 436,613 628,743 44.0% 100.0% 100.0% EBITDA 65,448 101,149 54.5% 15.0% 16.1% Financing Cost 28,119 32,950 17.2% 6.4% 5.2% Net Income 23,964 46,994 96.1% 5.5% 7.5% Avg. Price: +27.5% Derex was recently recognized for its Bosco development in Hermosillo, which features a bioclimatic social housing approach aimed at integrating design, climate conditions, and financial viability in a single housing development. Additionally, Derex expects to certify its first EDGE homes this year , which would be the first EDGE- certified homes in the state of Sonora.
Page 26
25 Institution Coverage Initiation Date Recommendation Target Price in pesos Aug’2026 Green Street's first analysis of the Mexican homebuilder market Mar’2026 Buy 56.60 Feb’2026 Buy 47.40 “Top-Pick” Feb’26 (Coverage since Nov’2016) Outperform 47.00 Oct’2025 Upside potential based on DCF & EV/EBITDA valuation 52.00 Mar’2025 Inclusion in the Mexico Small Giants list Nov’2022 Buy 54.50 Dec’2018 Buy 55.00 Current equity analyst coverage Potential stock price growth based on the average of these new analyst reports = +49% Grupo Vinte is covered by 6 analysts with a BUY rating and 49% implied upside. The Company is also on Bradesco BBI’s Small Giants list, and Green Street recently published a report on Grupo Vinte and Mexican housing. Access to Green Street’s report
Page 27
26 Additional Information ABOUT GRUPO VINTE Grupo Vinte became Mexico's largest homebuilding group in December 2024, following the acquisition of Servicios Corporativos Javer. Additionally, in November 2025, Grupo Vinte acquired 100% of the shares of Derex Desarrollo Residencial, a leading sustainabi lity-focused developer in Sonora and Baja California. We have a highly qualified management team with more than 34 years of experience in Mexico's housing sector. We are a vertically integrated, sustainable real estate developer with 23 years of track record and a clear f ocus on profitability and value creation, with 15,681 homes titled during 2025 across the three companies. Throughout our history, we have focused on developing sustainable housing communities for social, middle -income, and residential families, with a constant commitment to improving their quality of life, which has earned us numerous national and international recognitions. At Grupo Vinte, we hav e developed more than 86,000 homes across twelve states in Mexico, achieving a high level of customer loyalty. In addition, Javer had dev eloped more than 300,000 homes over its 50 -year history, and Derex more than 24,000 homes over its 26 -year history. Since 2017, we have driv en a Proptech-focused digital strategy, in line with the Company's philosophy of innovation. OUR FUTURE EVENTS “This document contains certain statements related to the comprehensive overview of “Vinte Viviendas Integrales” (Grupo Vinte ) regarding its activities to the present day. The information included in this document is a summary of information regarding Vinte whic h is not intended to cover all related information about Vinte. The information contained in this document has not been included to provide spe cific advice to investors. The statements contained herein reflect the current views of Vinte concerning future events and are subject to certain risks, uncertainties, and assumptions. Many factors could cause future results, performance, or achievements of Vinte to differ from those expressed or implied by such forward -looking statements, including, among others, economic or political changes and global busin ess conditions, changes in exchange rates, the overall state of the industry, changes in housing demand, raw material costs, etc. If one or more of these risks occur, or should the underlying assumptions prove to be incorrect, actual results may vary materially from tho se described herein as anticipated, believed, estimated, or expected. Vinte does not intend nor assume any obligation to update the statem ents presented in this document.”
Page 28
27 Financial Statements VINTE VIVIENDAS INTEGRALES, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENTS FOR THE PERIODS CORRESPONDING TO 2026 (Thousands of pesos, except number of shares) 3Q25 3Q26 ∆% 9M25 9M26 ∆% Titled Homes (units) 3,967 3,565 (10.1%) 11,101 9,817 (11.6%) Average Sale Price 1,031 1,212 17.5% 989 1,204 21.8% Revenue 4,117,127 4,361,109 5.9% 11,055,610 11,928,194 7.9% Cost of Sales (non - interest bearing) 2,772,617 2,845,490 2.6% 7,476,599 7,871,516 5.3% Gross Profit 1,344,510 1,515,619 12.7% 3,579,011 4,056,678 13.3% Gross Margin 32.7% 34.8% 2.1 p.p. 32.4% 34.0% 1.6 p.p. SG&A and Other Expenses 586,444 662,118 12.9% 1,663,789 1,915,109 15.1% EBITDA Adjustment 1 15,828 22,087 29,243 41,215 EBITDA 773,893 875,588 13.1% 1,944,466 2,182,785 12.3% EBITDA Margin 18.8% 20.1% 1.3 p.p. 17.6% 18.3% 0.7 p.p. EBITDA Adjustment 1 (15,828) (22,087) (29,243) (41,215) Depreciation and Amortization 37,940 40,502 6.8% 109,592 121,868 11.2% Comprehensive Financing Result 190,807 231,262 21.2% 406,812 508,860 25.1% Interest in Joint Ventures (1,091) – (100.0%) (4,467) (3,654) (18.2%) Earnings Before Tax 528,228 581,737 10.1% 1,394,352 1,507,188 8.1% Margin of Earnings Before Tax 12.8% 13.3% 0.5 p.p. 12.6% 12.6% - Income Tax 148,536 204,461 37.7% 419,881 495,761 18.1% Net Income 379,691 377,276 (0.6%) 974,470 1,011,427 3.8% Net Margin 9.2% 8.7% (0.5 p.p.) 8.8% 8.5% (0.3 p.p.) Equity (loss) Attributable to Non -Controlling Interest 363 4,719 1,199.5% 2,541 3,533 39.1% Equity (loss) Attributable to Controlling Interest 379,328 372,557 (1.8%) 971,930 1,007,894 3.7% Interest on Cost of Sales 80,695 196,299 143.3% 185,402 409,669 121.0% Number of Shares in Circulation 279,148,124 281,348,124 279,148,124 281,348,124 Net Earnings per Share 1.36 1.32 (2.6%) 3.48 3.58 2.9% 1 EBITDA adjustments include share -based payments, employee profit sharing (PTU), and other income related to Javer.
Page 29
28 Financial Statements VINTE VIVIENDAS INTEGRALES, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS OF September 30th, 2026 ASSETS (thousands of pesos) Dec 31, 2025 Sep 30, 2026 ∆% CURRENT ASSETS Cash, cash equivalents and short-term investments 1,971,670 1,378,735 (30.1%) Accounts and notes receivable from clients (Net) 1,460,957 1,284,036 (12.1%) Inventory 10,532,297 12,853,034 22.0% Prepaid expenses and other assets 1,233,158 1,504,357 22.0% TOTAL CURRENT ASSETS 15,198,082 17,020,162 12.0% NON-CURRENT ASSETS Inventory 8,807,751 8,817,214 0.1% Right-of-Use assets 261,048 285,794 9.5% Goodwill 380,281 380,281 0.0% Other assets (Net) 1,332,987 1,003,631 (24.7%) Property, plant and equipment 100,135 95,587 (4.5%) Investments in Trust and Joint ventures 16,007 0 (100.0%) Other non-current assets 97,756 99,760 2.0% Long-term receivables (Net) 396,662 396,662 – Other long-term investments 158,162 158,162 – TOTAL NON-CURRENT ASSETS 11,550,788 11,237,091 (2.7%) TOTAL ASSETS 26,748,870 28,257,253 5.6% LIABILITIES AND STOCKHOLDERS' EQUITY Dec 31, 2025 Sep 30, 2026 ∆% CURRENT LIABILITIES Accounts payable to suppliers and others 3,585,472 4,264,147 18.9% Accounts payable to land suppliers 451,510 777,371 72.2% Interest bearing debt 685,529 579,568 (15.5%) Taxes and other accounts payable 392,324 338,804 (13.6%) Obligations from the sale of contracts for future receivables 589,285 298,930 (49.3%) Other current liabilities without cost 210,802 208,569 (1.1%) TOTAL CURRENT LIABILITIES 5,914,922 6,467,389 9.3% NON-CURRENT LIABILITIES Long-term debt 2,800,998 2,703,805 (3.5%) Debt certificates 5,848,317 6,006,398 2.7% Deferred income tax 3,617,553 3,789,423 4.8% Other liabilities 488,993 548,063 12.1% TOTAL NON-CURRENT LIABILITIES 12,755,861 13,047,690 2.3% TOTAL LIABILITIES 18,670,783 19,515,079 4.5% STOCKHOLDERS’ EQUITY Capital stock 3,487,656 3,490,599 0.1% Reserve for share repurchase 167,471 179,014 6.9% Retained earnings attributable to the controlling interest 4,274,501 4,920,402 15.1% Non-controlling interest 148,459 152,159 2.5% TOTAL STOCKHOLDERS' EQUITY (Common Equity) 8,078,088 8,742,174 8.2% TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 26,748,870 28,257,253 5.6%
Page 30
29 Financial Statements VINTE VIVIENDAS INTEGRALES, S.A.B. DE C.V. AND SUBSIDIARIES CONSOLIDATED CASH FLOW STATEMENT AS OF SEPTEMBER 30, 2026 (thousands of pesos) Sep 30, 2026 Profit (loss) before income tax 1,507,188 Adjusted for: Depreciation and amortization of intangible assets 121,868 Amortization of debt issuance costs 27,943 Asset retirement 46,213 Interest expense 704,648 Interest received (605,457) Share of results of associates and joint ventures 3,654 Sum 1,806,056 CHANGES IN WORKING CAPITAL Decrease (Increase) in Accounts Receivable 176,922 Decrease (Increase) in Inventory (1,833,905) Decrease (Increase) in Other Accounts Receivable and Other Assets (149,660) Increase (Decrease) in Suppliers 392,760 Increase (Decrease) in Other Liabilities 1,697 Income Tax Paid or Benefitted 128,525 Total Changes in Working Capital (1,283,661) Net Cash Flows from (used in) Operating Activities 522,395 CASH FLOW FROM INVESTMENT ACTIVITIES Permanent stock investment (163,378) Investments in Trust and Joint Ventures 12,353 Investment in property, plant and equipment (115,773) Interest Collected 109,162 Other Items – Net Cash Flows from (used in) Investment Activities (157,637) CASH FLOWS FROM FINANCING ACTIVITIES Increase in bank financing 2,557,880 Securities financing – Share repurchase 176,220 Decrease in bank financing (2,023,356) Increase / Decrease in securities financing (592,010) Obligations for sale of future collections rights contracts (290,355) Increase in Capital 2,942 Expenses for placement of debt instruments (15,252) Dividends paid – Interest paid (704,648) Other accounts (69,114) Net Cash Flow from (used in) Financing Activities (957,693) Net Increase (Decrease) in Cash and Cash Equivalents (592,935) Cash and Cash Equivalents at the Beginning of the Period 1,971,670 Cash and Cash Equivalents at the End of the Period 1,378,735
Page 31
Conference call details: Day: Thursday, October 22nd, 2026 Time: 11:00 a.m. Mexico City Time | 1:00 p.m. EST Please register in advance for this conference call. Replay: Available 60 mins. after the conference call at: https://vinte.com Grupo Vinte cordially invites you to join its Third Quarter 2026 Earnings Call Click to Register Contact Details: gonzalo.pizzuto@vinte.com www.vinte.com Tel: 52 (55) 5010-7360 Grupo Vinte’s Third Quarter 2026 results will be released on Wednesday, October 21st, 2026, after the close of the Mexican market. Sergio Leal | Executive President René Martínez | CEO Domingo Valdés | CFO Gonzalo Pizzuto | Investor Relations Officer Presented by: