Cencosud Shopping Sa · BCS:CENCOMALLS
Cencosud Shopping Sa — Q3 2025 Earnings Presentation
25 slides from Cencosud Shopping Sa's earnings presentation, November 2025
Slide 1: Earnings Presentation Third Quarter 2025
Earnings Presentation Third Quarter 2025
Slide 2: 3Q25 Highlights
01 3Q25 Highlights |2
Slide 3: Investment Plan Progress Highlights (Temuco, Costanera, Auto City)
1.1 Investment Plan Progress Highlights Cenco Temuco Progress on Expansion Works ➢ The structural works of the expansion project continues, which will add 16,700 sqm of GLA. Cenco Costanera Progressive openings in the Vitacura Gallery ➢ Openings continue in the new access gallery from Av. Vitacura,
Slide 4: Investment Plan Progress Highlights (La Florida, Cenco Florida)
1.2 Investment Plan Progress Highlights Multifamily Project in La Florida Start of regulatory process ➢ During the quarter, the permitting process began for a multifamily residential project in La Florida district of Santiago, Chile. Cenco Florida Opening of new healthcare center ➢ A new healthcare
Slide 5: Investment Plan Progress Highlights (Alto Las Condes)
1.3 Investment Plan Progress Highlights Cenco Alto Las Condes New food court – Fit-out phase ➢ Construction is completed (+1,000 sqm of GLA across 12 units), now in fit-out stage. The project includes a new terrace and upgraded common areas. Rincón Jumbo and access to Mirador ➢ The new Rincón Jumbo
Slide 6: Investment Plan Progress Highlights (Peru, Colombia, Villarrica)
1.4 Investment Plan Progress Highlights Cenco La Molina (Lima, Peru) Construction completion – Second phase ➢ With construction completed, the fit-out stage along with tenant permitting processes are currently underway. It is being prepared for its gradual opening which will incorporate over 19,000
Slide 7: 3Q25 Highlights
1.5 3Q25 Highlights Top 1 in Best Branding Awards Chile 2025 The campaign “Now we are part of something bigger: Cenco Malls” earned first place in Best Rebrand / Brand Positioning category, supporting the brand’s positioning strategy and its connection with the public. Total Brands Study Award 2025
Slide 8: 3Q25 Highlights and Events After the End of the Quarter
1.6 3Q25 Highlights EtM Day 2025 Launch Launch event held at Sky Costanera, gathering over 250 leaders and ecosystem partners. EtM Day will take place from November 20 to 22, 2025, bringing together entrepreneurs and organizations to share opportunities. New features in the Cenco Malls App Receipt s
Slide 9: 3Q25 Results
02 3Q25 Results
Slide 10: 3Q25 Executive Summary
2.1 3Q25 Executive Summary Consolidated Revenues Consolidated Adjusted EBITDA (CLP million) (CLP million) +8.2% +6.4% +7.5% 252.764 273.588 +2.4% 231.078 245.799 85.872 92.335 80.495 82.421 3Q24 3Q25 9M24 9M25 3Q24 3Q25 9M24 9M25 Revenues increased by 7.5%, explained by: Adjusted EBITDA increased by
Slide 11: 3Q25 Executive Summary
2.2 3Q25 Executive Summary CLP million 3Q25 3Q24 Var. (%) 9M25 9M24 Var. (%) Revenues 92,335 85,872 7.5% 273,588 252,764 8.2% Adjusted EBITDA 82,421 80,495 2.4% 245,799 231,078 6.4% Adjusted EBITDA Margin 89.3% 93.7% -448 bps 89.8% 91.4% -158 bps FFO 63,182 64,792 -2.5% 189,846 188,693 0.6% Net Inco
Slide 12: 3Q25 Revenue Structure
2.3 3Q25 Revenue Structure Revenue Breakdown (1) Fixed Rent 10,4% Variable Rent Contract Maturity (in years) Others 70.8% 14,4% 15,7% 7,0% 75,2% 3,9% 2,6% Less than 2 Between Between Between Over 5 2 and 3 3 and 4 4 and 5 +70% 9.6 years (2) Maturity of over 5 Contract Average years Duration (1) The
Slide 13: Chile – New Leased Areas and Parking Operation Drive Revenue Growth
2.4 Chile – New Leased Areas and Parking Operation Drive Revenue Growth +8.4% Chile 243.072 263.589 Revenues +7.4% > Higher fixed rent from new tenants, with an increase in occupied GLA of ~29,000 sqm 82.796 88.903 Revenues YoY (~9,000 in malls and ~20,000 in offices). Revenues +7.4% YoY in CLP > Im
Slide 14: Peru - Revenue Growth Amid Temporary Cost Pressures
2.5 Peru - Revenue Growth Amid Temporary Cost Pressures +5.1% Peru 5.699 5.991 Revenues +13.3% > Higher fixed rent, supported by incorporation of new tenants. 2.065 Revenues 1.823 > Parking revenue growth operational efficiencies. due to Revenues +13.3% YoY in CLP > Higher variable rent, supported b
Slide 15: Colombia – Visits and Tenant Sales with Double-Digit YoY Growth
2.6 Colombia – Visits and Tenant Sales with Double-Digit YoY Growth +0.4% Colombia 4.008 3.993 Revenues +9.2% > Higher fixed rent from the entry of new tenants. 1.253 1.367 Revuenues > Improvement in variable rent, driven by increased tenant sales across all locations. Revenues +9.2% YoY in CLP 3Q24
Slide 16: Operational Figures: Occupancy Cost Below 9%
2.7 Operational Figures : Occupancy Cost Below 9% Occupancy Cost SSS +2.5% (1) -3.0% +15.2% 3Q25 3Q24 8.8% 8.8% 8.9% 8.9% 8.8% 8.8% SSR +3.5% (1) -2.9% -2.4% 7.1% 7.4% Chile Peru Colombia Consolidated Earning Presentation – Third Quarter 2025 | 16 (1) Figures in local currencies (CLP, PEN and COP, r
Slide 17: Key Operational Figures
2.8 Key Operational Figures Occupancy rate Closed at 97.8%, 51 bps below 3Q24, mainly due to the partial opening of Cenco Limonar, which added ~7,000 sqm of temporary vacancies, diluting the quarter’s overall occupancy. 97.8% +1.8% YoY Foot Traffic Visits Increased 1.8% YoY, despite various interven
Slide 18: Tax and Non-Operating Income
2.9 Tax and Non-Operating Income The Non-Operating Result for the quarter was CLP -3,852 million, an improvement of 58.7% YoY due to favorable foreign- exchange differences and a lower impact from the Unidad de Fomento (UF) index (UF decreased in July). These positive effects partially offset the im
Slide 19: Strong Cash Generation to Support Growth
2.10 Strong Cash Generation to Support Growth As of September 30, 2025, the cash position(1) stood at CLP 111,211 million, down 3.3% versus December 2024, mainly due to dividend payments totalling CLP 52,881 million and Capex of CLP 136,615 million associated with both the expansion plan and the lan
Slide 20: Capital Structure
2.11 Capital Structure Financial Indicators Unit SEP 25 DEC 24 SEP 24 Gross Financial Debt CLP MM 758,622 737,357 728,712 • As of September 30, 2025, 100% of the Company’s Duration years 9.5 10.1 10.3 interest rate-exposed debt was at a fixed rate Cash Position CLP MM 111,211 115,052 212,813 and den
Slide 21: Sustainability Progress
nvenidos o cenco’ | Fenco Rancagua - a fy | 7 ora fre Sustainability y Progress
Slide 22: Sustainability Progress
3.1 Sustainability Progress Monitor of Corporate Sustainability IPSE (Ipsos) Cenco Malls was recognized in Ipsos Chile’s 2025 IPSE, an annual public- perception survey on sustainability under ESG criteria (carbon footprint, diversity, ethics, community engagement, and transparency). The 2025 edition
Slide 23: Sustainability Progress
3.2 Sustainability Progress DEA Chile – Heart Month For the third consecutive year, Cenco Malls held a customer learning session focused on cardiopulmonary resuscitation (CPR). More than 100 people participated, contributing to health education and prevention. Used Book Fair at Cenco Temuco Fifth ed
Slide 24: Disclaimer
Disclaimer The information contained in this presentation has Cenco Malls, its affiliates, directors, partners, and been prepared by Cencosud Shopping S.A. (“Cenco employees disclaim any and all liability for any loss or Malls”) for informational purposes only. It should not damage arising from the
Slide 25: CeENCO'NALLS
al CeENCO'NALLS a
Cencosud Shopping S.A. (Cenco Malls) — Q3 2025 Earnings Presentation on 6ix