Inretail Peru Corp. · BVL:INRETC1

Inretail Peru — Q2 2026 Earnings Presentation

30 slides from Inretail Peru's earnings presentation, 2026

  1. Slide 1: Q2'26 Corporate Presentation

    Q2’26 CORPORATE PRESENTATION

  2. Slide 2: Agenda

    AGENDA 1 INRETAIL 2 INVESTMENT 3 APPENDIX OVERVIEW THESIS

  3. Slide 3: InRetail Overview

    INRETAIL OVERVIEW 1

  4. Slide 4: InRetail Overview

    INRETAIL OVERVIEW  Multi-format retailer with focus in the underpenetrated Peruvian market  Undisputed leadership in all its segments1/ — #1 in food retail — #1 in pharmacies — #1 in shopping malls  Operating in consumer non-discretionary segments  Strong and resilient cash generation with stabl

  5. Slide 5: InRetail is part of one of Peru's leading and most diversified business groups

    INRETAIL IS PART OF ONE OF PERU’S LEADING AND MOST DIVERSIFIED BUSINESS GROUPS Simplified organizational structure Education Float 28%1/ BB+2//Baa3/BBB- BB+/Ba1/BBB- Investment in Associate BVL: INRETC1 LTM Q2’26 Intercorp metrics:  More than ~USD 11.3 billion in sales  Market capitalization of 2

  6. Slide 6: LTM Q2'26 Financial Summary by Segment

    LTM Q2’26 FINANCIAL SUMMARY BY SEGMENT Million Soles (S/ mm) Revenues 13,875 9,293 823 24,009 % Revenues Contribution 58% 39% 3% 100% Adj. EBITDA1/ 1,255 1,620 496 3,237 % Adj. EBITDA Contribution 37% 48% 15% 100% Adj. EBITDA Margin2/ 9.0% 17.4% 80.0% 13.5% Note: Consolidated figures for InRetail in

  7. Slide 7: InRetail has achieved strong growth

    INRETAIL HAS ACHIEVED STRONG GROWTH Stores Revenues (US$ million)2/ Adj. EBITDA (US$ million)2/3/ 4,321 7,031 948 23 3% 15% 1.6x 1.8x 1.8x 39% 2,633 2,556 21 3,827 520 48% 4% 18% 52% 2,077 58% 53% 1,742 37% 44% 535 29% 2019 1/ Q2’26 2019 1/ LTM Q2’26 2019 1/ LTM Q2’26 Note: 1/ 2019 figures do not in

  8. Slide 8: Investment Thesis

    = [TEL EPR 2 o a +s InRetail 7 y 7 Li7y 4 INVESTMENT THESIS

  9. Slide 9: Investment Thesis

    INVESTMENT THESIS The leading multi-format retailer in a growing and underpenetrated Peruvian market 1 Sustainable growth in  Stable macroeconomic environment in Peru, with proven resilient growth and solid fundamentals underpenetrated  Peru’s modern retail is still in an early stage of developmen

  10. Slide 10: The Peruvian economy has strong macro fundamentals

    THE PERUVIAN ECONOMY HAS STRONG MACRO FUNDAMENTALS Proven resilient growth Stable fiscal and monetary policy Historical GDP growth (%) Public debt as % of GDP, 2025 Global financial COVID-19 crisis pandemic 93% 62% 60% 42% 30% 1990 1995 2000 2005 2010 2015 2020 2025 1992 1995 1998 2001 2004 2007 201

  11. Slide 11: Significant upside potential for modern retail

    SIGNIFICANT UPSIDE POTENTIAL FOR MODERN RETAIL Food Retail Pharmacies Shopping Malls Penetration as a % of total food retail sales - 20251/ Pharmaceutical sales as % of GDP - 20252/ Malls GLA (sqm) per 100 people - 2026 74.2% 1.3% 26.5 1.3% Mean ex-Peru: Mean ex-Peru: 65.2% 65.6% 1.2% 1.2% 1.1% 60.8

  12. Slide 12: Investment Thesis

    INVESTMENT THESIS The leading multi-format retailer in a growing and underpenetrated Peruvian market 1 Sustainable growth in  Stable macroeconomic environment in Peru, with proven resilient growth and solid fundamentals underpenetrated  Peru’s modern retail is still in an early stage of developmen

  13. Slide 13: Food Retail

    FOOD RETAIL Leading food retailer with a consolidated multi-format platform Revenues by format Multi-format strategy serving a diversified customer base across purchase missions 535 Hypermarket & 4% 7% stores Q2’26 Supermarket High-end Supermarket Cash & Carry Hard Discount 2019 Brand S/ 5.8bn Numbe

  14. Slide 14: Pharma

    PHARMA Largest pharmacy player in Peru with an unparalleled nationwide presence Revenues by unit Expansion of our health and well-being portfolio through our multi-format strategy Q2’26 Traditional Self-Service Beauty & Personal Care Distribution Revenues by format 47% 31% 22% Pharmacies One of the

  15. Slide 15: Shopping Malls

    SHOPPING MALLS Leading shopping malls platform with a resilient business model Consistent Net Rental Income growth and stable occupancy rates1/ Supported by high quality and long-term tenants1/ Net Rental Income (S/ mm) and Occupancy Rates (%) Diversified tenant base and GLA % of GLA as of Q2’26 Anc

  16. Slide 16: Investment Thesis

    INVESTMENT THESIS The leading multi-format retailer in a growing and underpenetrated Peruvian market 1 Sustainable growth in  Stable macroeconomic environment in Peru, with proven resilient growth and solid fundamentals underpenetrated  Peru’s modern retail is still in an early stage of developmen

  17. Slide 17: Consistent profitable organic and inorganic growth

    CONSISTENT PROFITABLE ORGANIC AND INORGANIC GROWTH RESILIENT BUSINESS MODEL WITH STRONG GROWTH AND PROFITABILITY 2019 + 1.8x LTM Q2’26 Revenues US$3,827mm Revenues US$7,031mm + 1.6x # Stores 2,633 # Stores 4,321 CONSISTENT AND PROFITABLE Revenues (US$mm) ORGANIC AND INORGANIC GROWTH 3,827 7,031 282

  18. Slide 18: Resilient business model with strong growth and profitability

    RESILIENT BUSINESS MODEL WITH STRONG GROWTH AND PROFITABILITY RESILIENT BUSINESS MODEL WITH STRONG GROWTH AND PROFITABILITY  InRetail operates a resilient business model with a well-diversified, multi-format platform, anchored in a diligent execution of its EDLP strategy and an important representa

  19. Slide 19: Appendix

    APPENDIX 3

  20. Slide 20: Financial Summary

    FINANCIAL SUMMARY Revenues Million Soles (S/ mm) +11.5% 6,122 5,492 Highlights  Double-digit revenue growth, reflecting a sustained positive consumption environment throughout the quarter Q2’25 Q2’26  Revenue growth was driven by strong performance in Food Gross Margin 28.2% 28.5% Retail (+15.3%)

  21. Slide 21: Net Income

    NET INCOME Million Soles (S/ mm) Net Income Net Income (excluding FX and Mark-to-Market)1/ +14.7% +40.3% 255 231 223 165 Net Q2’25 Q2’26 Net Q2’25 Q2’26 Margin 4.1% 4.2% Margin 3.0% 3.8% Net Income Breakdown -41 255 +100 -7 -5 +9 -24 223 Net Income Adj. EBITDA Net FX Effect2/ Mark to Higher Financia

  22. Slide 22: Cash Flow Breakdown

    CASH FLOW BREAKDOWN Million Soles (S/ mm) -335 +317 -297 1,903 +781 -207 4221/ -372 1,552 -233 4181/ 1,481 1,135 1,135 Starting Cash Operating CAPEX Financial Debt Amortization Financial Dividend and Other Non- Ending Cash Balance 2026 Cash Flow and Financial Expenses Other Operating Balance 2026 Ex

  23. Slide 23: Financial Debt and Leverage

    FINANCIAL DEBT AND LEVERAGE Million Soles (S/ mm) Leverage Evolution1/ Financial Debt Amortization Schedule Net Leverage2/ Leverage3/ Dec’25 Jun’26 39% 37% 2.5x 2.5x 2.4x 2.4x 2.3x 28% 27% 2.1x 2.0x 13% 12% 1.7x 1.8x 1.8x 12% 12% 9% 5% 3% 3% 2026 2027 2028 2029 2030 2031 onwards LTM Q2’25 LTM Q3’25

  24. Slide 24: Food Retail

    FOOD RETAIL Million Soles (S/ mm) Revenues Adj. EBITDA1/ +8.6% +15.3% 296 3,540 272 3,070 Q2’25 Q2’26 Q2’25 Q2’26 Gross Adj. EBITDA Margin 23.6% 23.5% Margin 8.9% 8.4%  Double-digit revenue growth of 15.3%, supported by strong performance in both food and non-food Q2’26 Highlights categories Revenu

  25. Slide 25: Pharma

    PHARMA Million Soles (S/ mm) Revenues Adj. EBITDA +4.8% +12.1% 2,238 2,347 422 377 Q2’25 Q2’26 Q2’25 Q2’26 Gross Adj. EBITDA Margin 32.6% 33.8% Margin 16.8% 18.0%  Revenue growth of 4.8%, tempered by our planned exit from non-core channels in our Distribution1/ Q2’26 Highlights unit Pharmacies  Co

  26. Slide 26: Shopping Malls

    SHOPPING MALLS Million Soles (S/ mm) Revenues +15.3% Adj. EBITDA1/ +37.5% 216 131 187 95 Q2’25 Q2’26 Q2’25 Q2’26 Gross Net Rental Margin 67.5% 67.4% Margin2/ 68.0% 81.2%  Double-digit revenue growth of 15.3%, driven by GLA expansion (+28k sqm), higher rents from strong Q2’26 Highlights tenant sales

  27. Slide 27: Operating Metrics

    OPERATING METRICS Food Retail1/ Pharmacies Shopping Malls N° Stores N° Stores N° Malls Cash & Carry Supermarkets Hard Discount Beauty & PC3/ Self-service Traditional Power Centers Shopping Malls 1,742 2,556 23 23 23 1,721 2,438 2,486 2,509 2,529 22 22 1,689 27 3 3 3 27 2 2 27 389 405 417 425 451 113

  28. Slide 28: Cash Cycle

    CASH CYCLE Food Retail1/ 91 93 94 93 92 93 94 88 85 53 54 53 56 54 49 50 49 42 3 1 3 1 1 1 2 1 1 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 -35 -31 -38 -36 -36 -38 -42 -43 -49 Days Acc Payable Inventory Turnover Days Acc Receivables CCC 115 115 117 118 115 Pharma 113 113 114 115 77 77 81

  29. Slide 29: Largest footprint of premier retail locations

    LARGEST FOOTPRINT OF PREMIER RETAIL LOCATIONS LARGEST FOOTPRINT OF PREMIER RETAIL LOCATIONS Food Retail Pharmacies Shopping Malls 113 Supermarkets 27 Cash & Carry 2,556 Pharmacies 23 Malls 1,602 Hard Discount (10) (1) (20) (59) (5) (3) (14) Piura (2) (128) (125) (1) (2) (2) Chiclayo (72) (107) Cajam

  30. Slide 30: Contact Information

    Contact Information Andrea Fabbri Investor Relations Officer IR email: andrea.fabbri@inretail.pe This material was prepared solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities. This presentation may include forward-looking statemen

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