Slide 1: Grupo Éxito Financial Results 1Q25
Grupo Éxito Financial Results 1Q25 May 15, 2025 “ The Issuers Recognition - IR granted by the Colombian Stock Exchange is not a certification about the quality of the securities listed at the BVC nor the solvency of the issuer”.
Slide 2: Note on forward looking statements
2 Note on forward looking statements • T h i s d o c u m e n t c o n t a i n s c e r t a i n f o r w a r d - l oo k i n g s t a t e m e n t s b a s e d o n d a t a , a s s u m p t i o n s , a n d e s t i m a t e s , t h a t t h e C o m p a n y b e l i e v e s a r e r e a s o n a b l e ; h o w e v e
Slide 3: Agenda
Agenda ▪ Words from our CEO, Mr. Carlos Calleja ▪ Update on ADS and BDRs delisting of the NYSE and B3 ▪ 1Q25 Operating and Financial Highlights ▪ Financials by country ▪ Conclusions and Q&A session 3
Slide 4: Words from our CEO Mr. Carlos Calleja
Words from our CEO Mr. Carlos Calleja
Slide 5: Update on ADS and BDRs delisting of the NYSE and B3
Update on ADS and BDRs delisting of the NYSE and B3
Slide 6: Rationale of the Proposal: a more efficient float distribution
Rational of the Proposal A more efficient float distribution for all shareholders Share base distribution as of March 31, 2025 40,098 shareholders ~ 13.2% float: BRA (BDS): 24,365 sh ~9.3% ~ 71% US (ADS): 3,072 sh 1 ~ 1.3% ~ 9.6% COL: 12,661 sh ~ 2.6% ~ 19.6% Note: 1 BDS representing 4 common shares
Slide 7: Milestones as of 1Q25 and next steps
Milestones as of 1Q25 and next steps The delisting and deregister process is proceeding as expected and in line with the announced timeline Notes: 1 BDS representing 4 common shares and 1 ADS 8 common shares. Periods estimated according to CVM approval for the discontinuation of the BDR program. Jan
Slide 8: 1Q25 Operating and Financial Highlights
1Q25 Operating and Financial Highlights
Slide 9: 1Q25 Operating Performance
1Q25 Colombia +2.6% Revenue Growth +3.9% Revenue Growth 1 604 Stores +45 LTM store from openings, conversions and remodelings 488 Stores Operating Performance Commercial dynamic allowed a top line growth at +3.9% excluding FX in 1Q25 Argentina 92 Stores Notes: (1) Excluding FX. +5.6% SSS 1 Sales +24
Slide 10: Consolidated highlights
74% 3.9 Bn 74% 4.0 Bn 20% 1.0 Bn 20% 1.1 Bn 6% 0.3 Bn 6% 0.3 Bn 1Q24 1Q25 5.3 Bn 5.4 Bn 3.9% Excl. FX Notes: (1) Consolidated results from Colombia, Uruguay and Argentina, eliminations and the FX effect of - 1.4% at Net Revenue and - 1.5.% at Recurring EBITDA during 1Q25. (2) Recurring EBITDA refers
Slide 11: Colombia Sales performance
Colombia Sales performance Gradual recovery in sales performance boosted by non - food category 11 Notes: SSS in local currency, include the effect of conversions and exclude the calendar effect of 0.05% in 1Q25 (1) The segment includes Retail Sales from Surtimax, Super Inter and Surtimayorista bran
Slide 12: Strategic focus in Colombia
Strategic focus in Colombia Commercial strategy focus on experiences, portfolio and savings levers Assortment Unbeatable Prices Thematic days Average Same day Sales increase “Martes del campo” +11% “Miércoles de carnes” +23% “Viernes de celebración” +18% +10.1% sales growth in 1Q25 +4.6% units growt
Slide 13: Real Estate Performance
Real Estate Performance Note: (1) Excluding retail premises GLA (2) Viva Malls is a JV with Fondo Inmobiliario Colombia (FIC) in which Grupo Éxito has 51% stake and consolidates the business. 13 The most important complementary business and contributor to margins +807,000 sqm of GLA (33 assets + ret
Slide 14: Complementary businesses
Complementary businesses 14 Complementary businesses contributed to profitability from traffic monetization 8.0M Clients with habeas data (+13% vs. 1Q24) +10,800M Redeemed points (+6% vs. 1Q24) 5,761 Allied brands $1.9B Outstanding Loan Portfolio 1.3 M Credit card stock F i n an c i al R e tai l Lo
Slide 15: Financials by country
Financials by country
Slide 16: Financial growth model
Financial growth model Consolidated Net Result Growth due to strong and solid strategies across the region +3.9% Exc. Fx Net Revenue Growth Gross Profit Improvement +52bps Financial Cost Reduction +61bps +14bps +114 bps EBITDA Margin Expenses Reduction 1.7% Net Result Margin (+244bps) 16
Slide 17: Net Revenue Growth Drivers
Net Revenue Growth Drivers Top line grew by +3.9% excl. FX mainly boosted by Colombia and Uruguay contribution Half of the contribution came from Colombia highlighting the non - food category, following by Uruguay and Argentina each one by 25% 5.28 - 0.04 - 0.04 5.20 5.40 1Q24 FX URU FX ARG 1Q24. ex
Slide 18: Colombia result
177,111 227,378 4.5% 5.7% 1Q25 EBITDA Margin 1Q24 1Q25 Recurring EBITDA 1 1Q24 EBITDA +28.4% Colombia result Double - digit EBITDA growth highlights strong positive trend and success of implemented plans Highlights 1Q25 +4.7% LFL sales +5.5% Non - Food Sales growth +9.0% Electronics Sales growth o S
Slide 19: Strict cost and expenses control
Strict cost and expenses control drove expenditures below 1Q24 despite index pressures Savings : COP $100,000 M during 1Q25 ▪ Enhanced Margin driven by cost reduction strategies ▪ Logistics efficiencies ▪ Shrinkage levels reduction ▪ Corporate structure simplification ▪ Energy efficiency measures ▪
Slide 20: Strategic focus in Uruguay
Strategic focus in Uruguay Consistent performance as the most profitable operation of the Groupe Note: SSS in local currency, include the effect of conversions and closings in 1Q25. (1) Excluding FX ( Net Sales COP $1.1 B +5.2% 1 vs 1Q24) Share on Net Sales +4.6% 1 Food category +9.3% 1 Non - Food c
Slide 21: Uruguay result
122,404 152,194 11.7% 14.3% 1Q25 EBITDA Margin Recurring EBITDA 1 1Q24 EBITDA 24.3% Uruguay result Record tourism season drives double - digit EBITDA growth for the most profitable BU Highlights 1Q25 +5.6% LFL sales 2 +9.2% FM Sales Growth 2 2.6% Omnichannel share o Revenues: Growing +5.3% local cur
Slide 22: Strategic focus in Argentina
+ Strategic focus in Argentina Efforts in strengthening commercial plan, a leaner operation, and Real Estate contribution Real Estate Business Asset: 14 shopping center GLA: 189,987 Occupancy Rate: 94.6% Collection Rate: 99.8% EBITDA - to - Rent Margin: 81% Key actions 2 Strategic stores aiming to i
Slide 23: Argentina result
2,598 - 8,424 0.9% (2.7%) 1Q25 EBITDA Margin 1Q24 1Q25 Recurring EBITDA 1 1Q24 EBITDA Argentina result Stagnant sales partially compensated by the RE performance while cost efficiency plans are underway Highlights 1Q25 +18.5% LFL sales 2 +100.9% Real Estate Growth. 2 1.6% Omnichannel share partially
Slide 24: Consolidated result
- 37,863 93,147 (0.7%) 1.7% 1Q25 Net Margin Net Result 1 1Q24 Net Result 302,113 371,148 5.7% 6.9% 1Q25 EBITDA Margin 1Q24 EBITDA Recurring EBITDA 1 22.9% Consolidated result Net result turns positive driven by successful strategy execution and improved sales trend Consolidated Results 1Q25 +5.6% LF
Slide 25: Net Financial Debt at Holding Level
Net Financial Debt at Holding Level 1 Reduced Gross debt and stable cash levels when excluding the effect of special factoring operations Net Financial debt impacted by: o o o o Cancellation of special factoring operations to reduce financial cost. Operational performance in 1Q25 reflected a strong
Slide 26: Conclusions
Conclusions
Slide 27: 1Q25 Final remarks & Strategic outlook
We have started the year with a strong performance , setting a solid foundation for continued momentum. Delivered solid results through a consistent commercial strategy focused on customer experience. We are committed to creating value for our customers, providing savings as the best alternative for
Slide 28: Q&A Session
Q&A Session
Slide 29: Appendices
Appendices
Slide 30: Notes and Glossary
Notes and Glossary Notes: • Numbers are expressed in long scale, COP billion represent 1,000,000,000,000. • Growth and variations are expressed in comparison to the same period last year, except when stated otherwise. • Sums and percentages may reflect discrepancies due to rounding of figures. • All
Slide 31: Ownership Structure
Ownership Structure Note: Ownership structure as of April 30, 2025. 31
Slide 32: Management Team
Management Team Carlos Mario Giraldo General Manager Colombia Jean Christophe Tijeras General Manager Uruguay Ramón Quagliata General Manager Argentina Juan Carlos Calleja CEO Grupo Éxito 32
Slide 33: ESG initiatives to generate value
Zero Malnutrition • 17,364 children benefited in nutrition and complementary programs. • 16,193 food packages donated to children and their family. • We are present in 32 departments and 83 municipalities. ESG initiatives to generate value: economic growth, social development and environmental prote
Slide 34: Consolidated Income Statement
Consolidated Income Statement Note: Consolidated data include results from Colombia, Uruguay and Argentina, eliminations, and the FX e ect of - 1.4% at Net Revenue and - 1.5% at Recurring EBITDA during 1Q25. Recurring EBITDA refers to Earnings Before Interest, Taxes, Depreciation, and Amortization a
Slide 35: Income Statement and CapEx by Country
Income Statement and CapEx by Country Notes: Consolidated data include results from Colombia, Uruguay and Argentina, eliminations, and the FX e ; ect of - 1.4% at Net Revenue and - 1.5% at Recurring EBITDA during 1Q25. Recurring EBITDA refers to Earnings Before Interest, Taxes, Depreciation, and Amo
Slide 36: Consolidated Balance Sheet
Var % Dec 2024 Mar 2025 in COP M (7.0%) 9,539,043 8,874,174 Liabilities (8.3%) 7,197,560 6,598,295 Current liabilities (10.4%) 4,408,479 3,948,618 Trade payables 0.3% 299,456 300,247 Lease liabilities (4.0%) 1,984,727 1,904,965 Borrowing - short term 22.6% 60,481 74,174 Other financial liabilities 0
Slide 37: Consolidated Cash Flow
Consolidated Cash Flow Note: Consolidated data include figures from Colombia, Uruguay and Argentina. Var % Mar 2024 Mar 2025 in COP M N/A (7,980) 127,724 Profit 20.2% 296,563 356,438 Operating income before changes in working capital (90.9%) (737,962) (67,291) Cash Net (used in) Operating Activities
Slide 38: Holding Income Statement
Holding Income Statement 1 (1) Holding: Almacenes Éxito Results without Colombia subsidiaries Recurring EBITDA refers to Earnings Before Interest, Taxes, Depreciation, and Amortization adjusted by other non - recurring operational income (expense). % Var 1Q24 1Q25 in COP M 2.9% 3,708,489 3,815,007 R
Slide 39: Holding Balance Sheet
Var % Dec 2024 Mar 2025 in COP M (4.9%) 7,215,710 6,858,973 Liabilities (5.8%) 5,591,365 5,265,925 Current liabilities (4.8%) 3,129,255 2,979,139 Trade payables 2.1% 315,308 321,872 Lease liabilities (6.4%) 1,553,175 1,453,062 Borrowing - short term 2.7% 161,672 166,111 Other financial liabilities (
Slide 40: Holding Gross Debt
31 - mar - 25 Maturity Date Nature of interest rate Nominal amount 31 Mar 2025, (millions of COP) 150,000 April 2025 Floating 200,000 Long Term - Bilateral 135,000 April 2025 Fixed 135,000 Mid Term - Bilateral 200,000 April 2025 Fixed 200,000 Short Term - Bilateral 82,515 May 2025 Floating 82,515 Sh
Slide 41: Banner by country: store number and sales area
Uruguay 39,197 58 Devoto 36,067 31 Disco 15,986 2 Geant 352 1 Six or Less 91,602 92 Total Uruguay Argentina 81,842 15 Libertad 11,328 9 Mayorista 93,170 24 Total Argentina 1,018,769 604 TOTAL Banner by country Store number Sales area (sqm) Colombia 625,781 201 Exito 97,890 134 Carulla 20,356 55 Surt
Slide 42: 1Q25 Accounts Reconciliations: FX effect
FX effect Growth in COP Growth in LC Net Revenue - 3.4% 1.7% 5.3% Uruguay - 12.8% 3.7% 18.9% Argentina - 1.4% 2.5% 3.9% Consolidated FX effect Growth in COP Growth in LC Recurring EBITDA - 3.4% 24.3% 28.7% Uruguay - 12.8% - 424.2% - 471.9% Argentina - 1.5% 22.9% 24.7% Consolidated 1Q25 Accounts Reco
Slide 43: EBITDA Accounts Reconciliations
1Q24 1Q25 in COP M 95,228 198,342 Operating Income (EBIT) 33,254 (5,157) Non - Recurring Income/(Expense) 25,836 28,034 Cost D&A 147,795 149,929 Expense D&A 302,113 371,148 Recurring EBITDA 1Q24 1Q25 in COP M 95,228 198,342 Operating Income (EBIT) (22,060) 10,070 Associates & Joint Ventures Results
Slide 44: Accounts Reconciliations: Real Estate Business in Colombia
Accounts Reconciliations Recurring Income of the Real Estate Business in Colombia Net Revenue and Recurring EBITDA of Viva Malls in Colombia 44 Note: Recurring EBITDA refers to Earnings Before Interest, Taxes, Depreciation, and Amortization adjusted by other non - recurring operational income (expen
Slide 45: Fernando Carbajal. Chief Financial Officer | IRO +57 (604) 049696 Ext 306560 ainvestor@grupo -
Fernando Carbajal. Chief Financial Officer | IRO +57 (604) 6049696 Ext 306560 ainvestor@grupo - exito.com Cra 48 No 32 B Sur 139, Viva Envigado Medellín, Colombia www.grupoexito.com.co exitoinvestor.relations@grupo - exito.com • “The Issuers Recognition - IR granted by the Colombian Stock Exchange i
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