Slide 1: 2024 Results Market Release
19 March 2025 2024 RESULTS MARKET RELEASE HERE
Slide 2: Group highlights 2024
+ 9.3% vs 2023 + 2.9% vs 2023 Return on invested capital 2
Slide 3: Global retail rankings
37th largest retailer in the world 25th largest food retailer in the world 14th largest food retailer in Europe 3
Slide 4: Poland
Slide 5: Socio-economic environment Poland
2024. SOCIO-ECONOMIC Hee ENVIRONMENT Y GDPACCELERATION VW INFATION ON BASIC FOOD PRODUCTS FELL AFTER THE REDUCED VAT MEASURE ENDED 3. Son V NOMINAL WAGE GROWTH WITH INCREASE IN THE MINIMUM WAGE (2028: 15196) 0 Be (2028: 0.296) S HIGHER HOUSEHOLD SAVINGS RATE SW REFERENCE INTEREST RATES UNCHANGED YW
Slide 6: Biedronka
Biedronks = Jeronimo Martins
Slide 7: Biedronka results
esults BALES IN LOCAL CURRENCY pI p VESTIMENT +4tq | f,8l4u | of 18n ae Marginaet 7, pEMROMES -0.3% "1 | 186 186 “O80 c.84,000 (3,30 stores in total)
Slide 8: Promotional dynamic 2024
: ; 3Q2 eee on the consumer 7 Promstional Dynamic 2024. ~Akea ‘promocyina obo iqzuje w dniach 10.06-22.06.2024 r. Szczegdty na biedronka.pl/shakeogratis
Slide 9: Price positioning campaigns
(BIEDRONKOWE OSZCZĘDNOŚCI) Price positioning campaign starring Biedronka’s Low prices, with offers and promotions in all categories directors from the commercial department and to create savings opportunities. advertised on TV and digital channels. Multi-media campaign with special offers on holiday
Slide 10: Campaigns and price freeze
(DO BIEDRONKI IDĘ 2.0) (W KWIETNIU W BIEDRONCE NIE PODNIESIEMY ZADNEJ CENY) New edition of the campaign launched in 2023. Every day, more than 5 million consumers have their reasons for saying “I go to Biedronka”. The campaign, with a strong musical component, was advertised on television, radio, di
Slide 11: Weekend and back-to-school campaigns
(NAJTAŃSZA WYPRAWKA SZKOLNA JEST W BIEDRONCE) (TANI WEEKEND | NAJTAŃSZA SOBOTA) There's always a special reason and opportunity to visit Biedronka on Fridays and Saturdays. TV, leaflet, digital, in-house and in-store campaigns. In July and August, when the time came to prepare for the return to scho
Slide 12: Soft toys collection campaign
Advertised on TV, radio, billboards, digital channels and in stores with educational content on YouTube and Roblox. Campaign ran from 26 August to 30 November. Collection of 17 soft toys representing the main categories sold in the stores. 12
Slide 13: Private brand innovation 2024
Ph vate nea A laacuation 202.4: PRIVATE BRAND “” (511 including inbout) oe ee WEIGHT OF PRIVATE BRAND ON SALES 6.89% (Excluding Fav, bakery and moretood)) Low CARB (eran | 13
Slide 14: Polaris sponsorship of national handball team
Supply of Polaris Private Brand water to the National Handball Team and the training academies of the Polish Handball Federation. New labelling on the bottle, product showcased at press conferences, and brand visibility on advertising boards during the men's and women's national team matches. Agreem
Slide 15: Store network and proximity 2024
eee on the Canteen / Proximity 202.4 0,(00 STORES 186 ~=—(280 NEW STORES REFURBISHMENT. S 6.90% OF SLOPES have seifcheckouts ib 300+ SEOEOS hare bat facet cold meat Seurders
Slide 16: Online delivery service
includes: dedicated exclusively to this service Private Brand and industry-brand products Service available in Polish cities Delivery of the week 16
Slide 17: Poland's largest fast charging network
Poland's largest fast charging network. 17
Slide 18: 33rd WOŚP charity final
33rd final Wielka Orkiestra Świątecznej Pomocy - WOŚP (The Great Orchestra of Christmas Charity) Between December 2024 and January 2025, over €1.5 million were raised (c.6 million in złoty) through the sale of official merchandise in Biedronka stores and customer donations. The proceeds go entirely
Slide 19: Prize winners
Agnieszka Piwoń Dorota Żak (PLN 100,000 prize) (PLN 100,000 prize) 19
Slide 20: Portugal
Slide 21: Socio-economic environment Portugal
SOCIO-ECONOMIC ENVIRONMENT 1.9% (2028: 2.3%) 24% (2028: 10%) ca 6.5%) 202.4. reper SOME OBSERVATIONS VY GROWTH SLONDOWN OF THE PORTUGUESE ECONOMY VY ANNUALINFATION DOWN TO 24% 4% DOMESTIC DEMAND GROWTH Y GRADUAL CUTS IN INTEREST RATE BY THE ECB FROM JUNE % CONSUMER CONFIDENCE RECOVERED BY SEPTEMBER
Slide 22: Pingo Doce
Pingo Dare
Slide 23: Pingo Doce results
esults Pats | +450 to €5.1 billion SA | 296m Margin at 5.9% P ese e271 (m +40 (exclepiel) ac aE 64 - etoreennatata)) c.02,000
Slide 24: Promotional dynamic 2024
eee on the Ca feomer UDenmational Dynamic 202.4. CAMPAIGNS 4 1 en = 24
Slide 25: Concurso Vida Feita campaign
“CONCURSO VIDA FEITA” Exclusive competition for Campaign advertising customers registered on the the new Private Brand app, which raffled off products, throughout €100,000 every week for the year. 4 weeks. The campaign was Advertised on TV, radio, app, advertised on TV, leaflets, digital channels, i
Slide 26: A Mãe Aprova and fresh campaigns
“A MÃE APROVA” “FRESCOS TODOS OS DIAS” Comida Fresca campaign, starring Cristiano Ronaldo's mum Showing customers that they can always find the Dolores Aveiro to communicate typical Sunday lunch focusing freshest fruit, vegetables, meat, fish, bread and bakery on authentic, homemade flavours. produc
Slide 27: Subsídio Pingo Doce and back-to-school
“SUBSÍDIO PINGO DOCE” “REGRESSO EM GRANDE POUPANÇA”” Exclusive contest for customers registered on the app, advertised in a multi- media campaign (TV, digital channels, radio, billboards, in A joint promotional campaign by Pingo Doce and Staples stores and a leaflet) with the to save on back-to-scho
Slide 28: Christmas campaigns
“NATAL PINGO DOCE / VERSAILLES” “NATAL A VALER” Pingo Doce once again brought the best of Christmas to families' tables. The special edition bolo-rei (traditional Christmas cake), created in partnership with Versailles, was the centrepiece of the Christmas campaign. Exclusive competition for custome
Slide 29: Private brand innovation 2024
Beate arcae. dlnauation 2024 PRIVATE BRAND pange doce. BOLACHAS MARINHEIRAS ——com chia PINOT NOIR _ 29
Slide 30: Private brand quality campaigns
“HÁ QUÍMICOS DE QUE NINGUÉM GOSTA” “LABORATÓRIO DE ADN” Campaign to reinforce the perception of quality and differentiation of the Pingo Doce was the first Private Brand. retailer in Portugal to eliminate flavour Pingo Doce is the only food enhancers and artificial retailer in Portugal colours from
Slide 31: Sabores do Mundo
“SABORES. DO MUNDO” In October, the Comida Fresca restaurants offered 28 dishes from different countries. A different recipe was showcased each day. 31
Slide 32: Easter and Christmas orders
“ENCOMENDAS DE PÁSCOA” “ENCOMENDAS DE NATAL” With its customers' well-being and convenience in mind, Between 5 and 24 March, Pingo Doce again prepared a Pingo Doce offered special Christmas and New a special Easter menu via Year’s menu. the Comida Fresca ordering service. Campaign advertised on TV,
Slide 33: Community programme edition
4 edition TH Five years making a difference in the neighbourhoods of Portugal:
Slide 34: Prize winners
Catarina Mané Fonseca Peixoto (€25,000 (€25,000 prize) prize)
Slide 35: Recheio
~ Jeronimo Martins
Slide 36: Recheio results
Results 202-4. “1.9% =| 69m 229 to €1,4 billion Margin at M7, 1% 1 c.2,500 A a #1 BRAND OF CHOICE BY PROFESSIONALS SINCE 2015 @RECHEIO
Slide 37: Private brand innovation 2024
Eons read. dl wnauation PRIVATE BRAND 83 202.4. In review! on 6.20% baunilha HAMBURGUER > weg. Ave i - - DEEITO DE FRANGO song (4x125g) AMANHECER TH / SS 2 & PANQUECAS } BANANA, &ESPELTA 1 2c a @RECHEIO i oe WEIGHT OF PRIVATE BRAND ON SALES 37
Slide 38: Promotional dynamic 2024
Bee on the Ga feomer UDenmational Dynamic 202.4. } LEAFLETS | 103 (ime luding ‘Amanhecer) RECHEIO 38
Slide 39: HoReCa catalogue
Special HoReCa Catalogue focused on strengthening Recheio's position as a fresh food expert. 39
Slide 40: Com Orgulho and anniversary campaigns
“COM ORGULHO” “ANIVERSÁRIO RECHEIO” In its anniversary month, Recheio enhanced its voucher promotion campaign with a selection of best-selling products, lowering prices even more. Campaign advertised on social Launch of a line of communication to reinforce media, WhatsApp, website Recheio's ‘Portuga
Slide 41: Entre a Poupar and lower prices
“ENTRE A POUPAR”” “PREÇOS AINDA MAIS BAIXOS” Recheio boosted its Promotional campaign competitiveness in the at the start of the year with personal hygiene, cleaning 500 shopping vouchers and detergents categories, worth €300. lowering more than 400 prices. Activation on digital channels, in leaflet
Slide 42: 50% discount and Recheio Trip
“NO RECHEIO DAMOS 50% DE DESCONTO” “VIAGEM RECHEIO” Between August and December customers collected points through their purchases for the new edition of the Recheio Trip, this time to Salvador da Bahia, in Brazil. Campaign advertised in stores, The promotional campaign ran from 1 to leaflet, websit
Slide 43: Store areas for fresh and wine
New areas for fresh produce, frozen foods, wine and spirits section and healthy eating. Wide and specialised range of wines and spirits. 43
Slide 44: Breakout Chef sponsorship
Recheio was the official sponsor of the 13th edition of the Breakout Chef competition, aimed at young hotel and catering professionals and students. The Cascais store hosted the final of the Recheio category, which featured ingredients from Recheio's Private Brands and Best Farmer meat. 44
Slide 45: Amanhecer proximity stores
eee on the Comemnae / Proximity Losa 700 706 STORES UNDER THE AMANHECER CHAIN BY THE END OF 2024. @RECHEIO Supermercado Gi Quarteira AGORA, A PROXIMIDADE E VIZINHA!
Slide 46: Ara
dime ge
Slide 47: Socio-economic environment Colombia
202.4. SOCIO-ECONOMIC 202s ENVIRONMENT SOME OBSERVATIONS, 1.0% VY ECONOMIC ACCELERATION hy 2% (2003: 14.8%) V ANNUAL INFATION FELL TO 66% (2028: 0.696) V RECOVERY IN) PRIVATE CONSUMPTION VY CONSUMER CONFIDENCE INDEX IMPROVED VY UNEMPLOYMENT RATE REMAINING STABLE COMPARED TO PREVIOUS YEAR 10. om (202
Slide 48: Colombia
Slide 49: Ara results
Decal ts 202-4 SAS A LOCAL URRENC SIA cer “ts | Gu | TIM ak 76,00 0.2% | 150 ¢.16,000 ra
Slide 50: Nationwide campaigns
NATIONWIDE CAMPAIGNS PROMOTIONAL LEAFLETS
Slide 51: Price positioning and discount campaigns
Nationwide price positioning campaign. Nationwide campaign offering big discounts that Advertised on TV, radio, digital channels, ran from 31 May to 3 July. leaflets and in stores. Different ads every week on TV, radio, digital channels, leaflets and in-store communication. 51
Slide 52: Rigoberto Urán partnership
In June, Ara partnered with Rigoberto Urán, a Colombian cyclist The campaign ran during the Copa America and with a large social media following. the Under-17 Women's World Cup. More than 40,000 prizes were given away. 52
Slide 53: Feria de Cali campaign
Code awarded for purchases of participating brands in the amount of 35,000 pesos or more (c. €8). The 100 customers with the most registered codes won two tickets to the Feria de Cali. 53
Slide 54: Private brand innovation 2024
vets rca Hol akaugcen 2024 PRIVATE BRAND ping Provenzal da
Slide 55: Store network and franchise model
INCLUDING 10 BODEGAS DEL CANASTO Dissent in operated Yi partners, ina franc ising model photovoltaic panels installed in 2024
Slide 56: Women's national football team sponsorship
As sponsor of the Colombian women’s national football teams, and during their participation in the Olympic Games in Paris, Ara held several promotions to engage customers with the brand and offer good savings opportunities. 56
Slide 57: Community and health programmes
IMPACTED MORE THAN 63,000 PEOPLE TWO MAIN OBJECTIVES: PROMOTING GOOD HEALTH THROUGH FOOD SUPPORTING LOCAL COMMUNITIES THROUGH THE CREATION OF SOCIAL CAPACITY-BUILDING PROJECTS 57
Slide 58: Support for newborns and mothers
offered to Colombian newborn babies and their mothers 58
Slide 59: Hebe
Slide 60: Hebe results
Results 202... Psusw oH No | | BIA ORNINGS “1840 | | QM | 8 €593 million Margin at 10.27% (243% in Bios) chebe
Slide 61: Internationalisation and omnichannel sales
leteenationglitation Poca on omuicanal sales 202.4 STORES IN SLOVAKIA | phebe — STORE IN THE EUROVEA SHOPPING CENTRE, IN DOWNTOWN BRATISLAVA - 420m? 61
Slide 62: Online sales and digital presence
ee on Onlite Gales DIGITAL PRESENGE APP AND WEBSITE 5+ MILLION WEBSITE AND APP USERS 3.8 MILLION APP 1.5 MILLION
Slide 63: Social media following
ee on Onlite Gales 608 000+ FACEBOOK FANS 22 000+ INSTAGRAM FOLLOWERS 130,000+ YOUTUBE FOLLOWERS 59 00+ TIKTOK FOLLOWERS 63
Slide 64: Brands and private brand launches
ae on the Gavecmed Velnnovation 202.4 BRANDS EXCLUSIVE BRAND PRODUCTS PRIVATE BRAND LAUNCHES
Slide 65: Hebe Quiz
380 EDITION OFTHE HEBE QUIZ 17,000+ prizes 1 million+ visitors on the app 198,000+ participants chebe
Slide 66: Hebe magazine
ae on the Gavecmed Velnnovation MAGAZINE PRINT RUN 110,000 copies per month DO ZADAN SP! ALNYCH ahebe 66
Slide 67: Agribusiness
Slide 68: Cattle farms
CATTLE MONTE TRIGO CARTAXO PERNES alk BESTFARMER 68
Slide 69: Animal welfare certification
All farms are certified animal welfare approved and for responsible antibiotic use. 69
Slide 70: Animal welfare and organic certification
CERTIFIED ANIMAL WELFARE APPROVED ORGANIC PRODUCTION CERTIFICATION 70
Slide 71: Fruit and vegetables: organic grapes
FRUIT AND VEGETABLES ay ORGANIC SEEDLESS GRAPES 1,900 som PRODUCTION AREA | AREA “TB. OPERATIONAL START “Ye OF THE PACKAGING <—— UNIT 71
Slide 72: Fruit and vegetables: oranges, mandarins, stone fruit
Agribusiness FRUIT AND VEGETABLES ORGANIC TANGO MANDARIN ORANGES i”, «AND STONE FRUIT” INCREASED PRODUCTION, PRODUCTION AREA AREA 2401, 190.. oe Peach jin LO STONE FRUIT A SALES vowme | VOLUME B35. additional aie in 2025) 72
Slide 73: Terra Alegre milk factory
100 MILLION LITRES OF MILK PRODUCED IN THE TERRA ALEGRE FACTORY MILK FACTORY AWARDED LEAN & GREEN STAR 23% reduction in CO, equivalent emissions in logistical operations (compared to 2022). 73
Slide 74: Sea bream and sea bass sales
of sea bream and sea bass sold 74
Slide 75: Sea bass and sea bream packaging unit
Finalisation of the construction of the sea bass and sea bream packaging unit and the land-based infrastructure to support the operation. 75
Slide 76: Investment
INVESTMENT Jeronimo Martins
Slide 77: Capex by company
lvestnent GAPEX 1,006u INVESTED IN THE YEAR eee. OTHERS 111% ae BIEDRONKA 41.5% RECHEIO 2.8% / PINGO DOCE 215% / 77
Slide 78: Allocation of investments
i vestment 202.4. ALLOCATION OF INVESTMENTS 1,006, EXPANSION 40% van REFURBISHMENTS. MAINTENANCE AND OTHERS 0% /
Slide 79: Results analysis
RESULTS bes ANALYSIS
Slide 80: Net debt and cash position
*EXCLUDING CAPITALISED OPERATING LEASE LIABILITIES, THE GROUP CLOSED THE YEAR WITH A NET CASH POSITION OF 726 MILLION EUROS. 80
Slide 81: Contribution to sales and EBITDA
Results Analysis CONTRIBUTION TO SALES HEBE OTHERS AND ADJUSTMENTS RECHEIO 1.7% 0.1% nnn 41% seal aves ae BIEDRONKA ae 70.4% PINGO 4 DOGE 15.2% oo : 5 B CONSOLIDATED SALES CONTRIBUTION TO EBITDA (IFRS 16 Pingo Does 13.3% Ara 43% Recheio 31% Hebe 26% Others and adjustments 46%, CONSOLIDATED EBITDA 62
Slide 82: Dividend proposal
IN ACCORDANCE WITH THE DIVIDENDS POLICY, THE BOARD OF DIRECTORS WILL RECOMMEND THE GENERAL MEETING THE PAYMENT OF 6370.8 MILLION IN DIVIDENDS, CORRESPONDING TO €0.59 PER SHARE (GROSS VALUE). ACCORDING TO PARAGRAPH THREE OF ARTICLE THIRTY-FIRST OF THE COMPANY'S ARTICLES OF ASSOCIATION, THE BOARD OF D
Slide 83: Sustainability
SUSTAINABILITY
Slide 84: ESG monitoring and indices
54 ESG analysts and investors continuously monitor performance. Listed on more than 140 international sustainability indices. 84
Slide 85: Sustainability / Environment: climate rating
Custainability / Environment 202.4. ~~ JERONIMO MARTINS ACHIEVES TOP RATING IN THE FIGHT AGAINST Alist CLIMATE CHANGE FOR 4" CONSECUTIVE YEAR + LEADERSHIP LEVEL (‘A-') BOTH IN THE MANAGEMENT OF WATER AS A CRITICAL SRE AND IN THE MANAGEMENT OF THE OTE utc ASSOCIATED
Slide 86: Carbon neutrality goals
First retailer in Portugal, and one of the first food retailers worldwide, to have its short- and long-term goals for achieving carbon neutrality by 2050 recognised and validated by the scientific community. 86
Slide 87: Carbon footprint and energy reduction
Gtaea ility TCiwinoement CARBON FOOTPRINT REDUCTION 15.8% LESS COse VS 2028 Ccope 1 and 2 carbon emissions = REDUCTION OF ENERGY CONSUMPTION 93%, per million euros in sales , INVESTMENTS IN ENERGY GENERATION 2,000+ stores and distribution centres with photovoltaic panels installed 87
Slide 88: Packaging materials reduction
Custainability i Ehuinoement -10.9% CONSUMPTION OF PACKAGING MATERIALS IN PRIVATE BRANDS errs of materials per million euros in sales 88
Slide 89: Sustainability / Social: nutrition
Custainability Ee Coctal IN OUR STORES TONNES OF FAT TONNES OF SUGAR TONNES OF SALT 89
Slide 90: Benchmark employer
Custainability / Ccial BENCHMARK EMPLOYER TOTAL EMPLOYEES 139,907 eo0 4m IN AWARDS AND OTHER RECOGNITION MEASURES (13% vs 2023) over eA8m IN INTERNAL SOCIAL REPONSIBILITY MEASURES ceOM IN WELL-BEING INITIATIVES AND PROGRAMMES 90
Slide 91: Developing our people
Custainability i Ccial 202.4. FOCUS ON DEVELOPING OUR PEOPLE el7m —> more than 94% INVESTED EMPLOYEES RECEVEIVED IN TRAINING 8.9M HOURS OF TRAINING Average of 64 training hours per employee 49,819 1075 EMPLOYEES CHANGED ROLES, EMPLOYEES WORKPLACE OR COMPANY PROMOTED (30.6% of the Group's employees)
Slide 92: FTSE Diversity & Inclusion Index
The Group was ranked as one of the top 100 companies worldwide with the best diversity and inclusion practices by the FTSE Diversity & Inclusion Index, organised by FTSE Russel, which analysed over 15,500 publicly traded companies worldwide. Only company based in Portugal and the only one in the "su
Slide 93: Supporting communities
Custainability / Ccial SUPPORTING COMMUNITIES 681M IN DIRECT SUPPORT TO MORE THAN 2,100 ENTITIES 40m ENDOWMENT FOR THE F —_JERONIMO MARTINS FOUNDATION ; TOTAL él yaly 18,600 tonnes OF FOOD PRODUCTS DONATED 93
Slide 94: Sourcing responsibly
Custainability / Goveronbce SOURCING RESPONSIBLY 90%+ OF FOOD PRODUCTS PURCHASES MADE FROM LOCAL SUPPLIERS KEEPING FINANCIAL MEASURES TO SUPPORT SMALL AND MEDIUM-SIZED FARMERS
Slide 95: 95
95
Slide 96: Planned openings and refurbishments
Planned openings: 130-150 Biedronka stores (net) in Poland and 1 new distribution centre in Poland At least 50 Biedronka stores in Slovakia by the end of 2026 c.10 Pingo Doce stores More than 150 Ara stores + c.70 stores previously operated by Colsubsidio and 1 new distribution centre in Colombia 30
Slide 97: 2024 Results Market Release
19 March 2025 2024 RESULTS MARKET RELEASE HERE