Slide 1: 1H24 Results
Ye) ale (= 1H24 Results July, 2024
Slide 2: Portfolio
Portfolio
Slide 3: Active portfolio management in the 1H
Active portfolio management in the 1H: Sparkfood W Wy, BrightPixel _Oseiiood & | sone NZ eS | ORightP x . Sierra ii = e Gi CN iW gp uniyerso. Gi] MC Olen 100% 81% 100% 37% 90% 3s Sonae
Slide 4: HWB: Health, Wellness & Beauty
• • • HWB: Health, Wellness & Beauty 1: Preliminary pro forma figures for the year ended on 31 December 2023 4
Slide 5: Slight adjustment to NAV due to lower food retail multiples
slight adjustment to due to lower food retail multiples Mar.24 Retail Real estate Others and holding Jun.24 5 Sonae
Slide 6: Business by business
Business by \ business
Slide 7: MC strengthened its leadership position
strengthened its MC leadership position Turnover and uEBITDA margin and maintained strong em execution discipline in a hi itl 2,793 3,005 0.1% ghly competitive po 254 Ta 91% 9.2% 9.6% 10.5% 1H23 1H24 1H23 1H24 Reinforced #1 market position with 10 new proximity stores (Continente Bom Dia) supported
Slide 8: Worten improved market share under intense promotional landscape
improved market share under intense promotional landscape oO Worten Sonae Turnover and uEBITDA margin (€m) a, 593 557 4.5% 1H23 1H24 in Portugal reinforced both online and offline international expansion is on track, with 10 new stores pressured by promotional activity and higher opex s Sonae
Slide 9: Reinforced leadership with pressure on margins
reinforced leadership with pressure on margins Turnover and adj. EBITDA margin —— GROUP —— (€m) 315 327 16.8% <> 9M23 9M24 across different countries, although business environment continued to be challenging increased, underpinned by a higher number of directly operated stores pressured by a lower
Slide 10: Positive momentum at Sierra
Positive momentum Sierra . Sonae continues European with solid operational performance improved assets valuation in a context of stable yields Higher due to net result increase despite unfavourable FX impact Net Result INREV NAV (€m) (€m) 1H23 1H24 YE23 Jun.24 10 Sonae
Slide 11: Telco and Technology businesses sustained solid performances
Telco and Technology businesses sustained solid performances WW Wy, + 4D} N= 2S O BrightPixel Tw =~ Sonae Solid revenue growth mainly fueled by * 43 companies in the portfolio telco business us! * 1H24: focus on developing a strong Net income positively impacted by non- pipeline of targets for futur
Slide 12: Consolidated view
Consolidated view
Slide 13: Turnover reached €4.3bn
reached €4.3bn fuelled by retail and newly consolidated businesses Turnover (em) 1.4% , +23 4,267 H3890 oo f27S Z Mc 3,831 Worten Sa |_ 1H23 MC and Musti Other —_ Worten 13 Sonae
Slide 14: uEBITDA
uEBITDA mainly due e _ MC's performance “ 342 60 || 40 301, 8.0% +0.2pp margin 1H23 Mc Musti Other 1H24 14 Son ae
Slide 15: EBITDA boosted by uEBITDA and equity method results
boosted by uEBITDA and equity method results EBITDA (€m) +63 (+18.2%) +27 ye. A10 -5 at 347 a — | 1H23 uEBITDA Equity Non 1H24 method recurrent results 15 Son ae
Slide 16: Net result increased despite higher D&A and financing costs
Increased despite higher @ D&A and financing costs Direct Result Indirect Result Net Result (group share) (em) (€m) (em) (9) 75 66 6 6 1H23 1H24 1H23 1H24 1H23 1H24 16 Son ae
Slide 17: Net debt increased mainly due to portfolio management activity
Net debt increased mainly due to portfolio management activity (L12M, €m) -608 -491 Operational Dividends received — Financial activity Portfolio cash M&A impacts Net debt var. cash flow flow generation before dividends payment
Slide 18: All financial ratios remained solid
@ All financial ratios remained solid Holding LTV 7.0 Jun.23 16.0 Jun.24 Sonae Net Debt to Mc . EBITDA Sonae Net debt to Adj. EBITDA 3.0 2.9 4 Jun.23 Jun.24 Jun.23 . . o LTV gross Sierra Net Fin. Debt to Neves % EBITDA AL 38.7 7.0 2.0 ] | } Jun.23 Jun.24 Jun.23 Jun.24 Sonae
Slide 19: Q&A
Q&A
Slide 20: Sonae
Sonae