Magazine Luiza S.a. · BMFBOVESPA:MGLU3
Magazine Luiza — Q4 2025 Earnings Presentation
31 slides from Magazine Luiza's earnings presentation, Mar 13, 2026
Slide 1: Conference Call 4Q25
Conference Call 4Q25 March 13, 2026
Slide 2: Simultaneous Translation
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Slide 3: Completion of the Strategic Ecosystem-Building Cycle
Focus: Diversifying revenue streams and Completion of the Strategic building a robust earnings base, capable of Ecosystem-Building Cycle operating with greater autonomy amid the country's macroeconomic fluctuations.
Slide 4: From Traditional Retail to Magalu Ecosystem
From traditional retail to Magalu Ecosystem: a 10-year management legacy 2015 2025 Total Sales R$10bi R$65bi Total Sales % E-commerce (total sales) 20% 69% % E-commerce (total sales) % Marketplace (total sales) 0% 27% % Marketplace (total sales) Number of Stores 785 1,246 Number of Stores EBITDA R$0
Slide 5: 4Q25 EBITDA and Net Income
In 4Q25, EBITDA reached R$867 million, with a 7.8% margin. Net income was R$125 million Adjusted EBITDA [% of Net Revenue; R$] 3.1 Bi Adjusted Net 3.0 Bi Income R$ 125 Mi in 4Q25 867 M 7.9% 846 M R$ 159 million in 2025 7.8% Operating 7,8% Cash Flow 7.8% R$ 2.2 Bi in 4Q25 R$ 2.7 billion in 2025 4Q24
Slide 6: Total Sales Evolution
Total Sales were R$18 billion in 4Q25 and R$65 billion in the year Evolution of total sales [Billion R$; %] Online Physical Store R$20 billion Physical Store in 2025 (SSS of 6.3% vs 2025) +16% 0% +3% -1% 65.3 64.7 18.0 17.9 18.4 18.2 R$27 billion 15.5 71% 69% 1P Sales in 2025 72% 71% 70% 67% 72% 29%
Slide 7: Physical Store Sales Evolution
Magalu continues its trajectory of strong market share gains in Physical Stores, reaching R$20 billion in sales in 2025 Sales evolution in physical stores [Billion R$; %] +6% 20.3 +15% +4% +6% +9% 19.2 6.0 Same-Store Sales 5.1 5.2 5.6 8.4% (SSS) growth [4Q25 - 4Q24] 4.4 +8% +6% SSS SSS Strong market
Slide 8: Subsidiaries Contributed to Ecosystem Diversification
All subsidiaries contributed to the diversification and profitability of our Ecosystem R$ 19 Mi Adjusted Net Profit in R$ 42 Mi Adjusted Net Profit in R$ 5 Mi Adjusted Net Profit in 4Q25 4Q25 and R$ 62 Mi in 2025 4Q25 and R$ 97 Mi in 2025 and R$11 Mi in 2025 R$ 1.4 Bi Sales in 4Q25 and R$ 1.2 Bi Sales in
Slide 9: Magalog External Client Base
Magalog: strategic expansion of the external client base Revenue Expansion In 2025, Magalog increased its revenue from external clients by 47% New Clients in the Quarter Partnership with Shopper O Magalog will be the logistics operator responsible for the expansion of the online supermarket service
Slide 10: Magalu Cloud
Magalu Cloud: the first brazilian cloud with global scale New clients Acquisition of 55% 1,200 Movestack , Magalu’s which will add Cloud External new AI-powered Workloads Clients services to the ecosystem
Slide 11: Magalupay Regulatory Framework
Magalupay: Full regulatory framework to scale financial services within the Magalu Ecosystem R$21 bi R$6.4 bi credit card portfolio Assets Under Management Net Income: Net Income: R$271 million R$61 million 4Q25 2025 IF IP Consumer Financing (CDC) Expansion Digital Account, (+15%): R$ 1.8 billion por
Slide 12: MagaluAds Revenue Growth
MagaluAds: contributing increasingly to the diversification of revenues and results of the ecosystem Accelerated growth in Sellers Maturation Ads Revenue +39% average spend per advertiser +54% vs 2024 +22% in average ticket 2025 Review: Omnichannel Ads: New media 20,000 in-store formats, display TVs
Slide 13: Financial Highlights
Financial Highlights
Slide 14: Financial Highlights of 4Q25
Financial Highlights of 4Q25 R$18.2 Billion in Total Sales R$867 Million Adjusted EBITDA (7.8% of margin) 8.3% Growth in Same-Stores Sales R$125 Million Adjusted Net Income (Net Income: R$132 million) R$13.8 Billion in Gross Revenue (Growth of 3.3% vs 4Q24) R$2.2 Operational Cash Flow Generation 30.
Slide 15: Financial Highlights of 2025
Financial Highlights of 2025 R$64,6 Billion in Total Sales R$3,1 Billion Adjusted EBITDA (7.9% of margin) 6% Growth in Physical Stores R$159 Million Adjusted Net Income (Net Income: R$205 million) 30,6% Adjusted Gross Margin R$2.7 Billion Total Cash Position (R$8.0 bi Adjusted Net Cash)
Slide 16: Summary of Non-recurring Items
Summary of Non-recurring Items (in R$ million) 4Q25 Reversal of provision for DIFAL (Interstate ICMS Rate Differential) Additional Inventory Provision 550 following the Supreme Court (STF) decision Provision to accelerate the turnover of excess, seasonal, or Net Provision for tax risks (299) slow-mo
Slide 17: Working Capital and Financial Expenses
Positive change in working capital contributing to cash generation in the quarter. Financial expenses impacted by the increase in interest rates Adjusted Working Capital (Billion R$) Adjusted Net Financial Expenses (Million R$) CDI 11.1% 13.0% 14.7% 15.0% 15.0% 10.9% 14.3% R$1.9 bi average 3.9 5.3%
Slide 18: Total Cash Position of R$8.0 Billion
Total Cash Position of R$8.0 Billion in Dec/25 Operational cash flow reached R$2.2 billion in the quarter Cash Flow 4Q25 (Billion R$) Receivables Cash 2.2 1.7 8.0 7.6 0.3 0.2 0.4 0.9 Free Cash Flow Oct/25: Debenture amortization in the 6.0 6.0 amount of R$900 mi 1.6 2.0 Adjusted Final Operational Cap
Slide 19: Operational Cash Flow Generation
Total Cash Position of R$8.0 Billion in Dec/25 Operational cash flow generation of R$2.7 billion in 2025 Cash Flow LTM (Billion R$) Receivables Cash 2.7 0.9 0.3 8.0 7.9 1.0 0.8 0.8 0.2 Fluxo de Caixa Livre 5.7 6.0 2.2 2.0 Adjusted Final Operational Capex and Leasing Subtotal Interest Net Dividend Adj
Slide 20: Cash Position and Debt Structure
We ended 4Q25 with a total cash position of R$8.0 billion and an adjusted net cash position of R$3.1 billion, maintaining a robust capital structure Cash and Debt (Billion R$) Debt (Billion R$) 8.0 5.9 1.3 Bi 1.0 Bi 4.9 4.6 3.1 6.0 Net Cash 4.9 2.0 Gross Debt Dec/24 Sep/25 Dec/25 Caixa Final Ajustad
Slide 21: Luizacred
Luizacred Default rates at historically low levels and evolution in profitability R$ 20.8 Bi 5.7 Mi 25% Adjusted Net Profit [R$ million] 291 513 Credit Portfolio Credit Cards ROE [3% growth vs. Dec/24] [Dec/25] [2025] +R$ 230 Mi Percent of the Portfolio Overdue (%) 525 8.1% 295 8.0% +R$ 126 Mi 271 7.5
Slide 22: Magalu's New Strategic Cycle
Curated Boost the 2 4 e-commerce ecosystem with high and scale its service levels – omnichannel a "Brandplace" presence Magalu’s New Strategic Cycle:the value of the Unlocking assets we have built and driving the Artificial Intelligence revolution in Brazilian retail 1 3 5 Redefining Accelerating Stre
Slide 23: Retail's New Competitive Architecture
Retail’s New Competitive Architecture AI is moving beyond being a mere technological layer to redefining competitive strategy. While GenAI is already reshaping discovery and decision-making in e-commerce, Agentic AI deepens this shift by enabling agents to execute actions autonomously. 58% Adoption i
Slide 24: Lu's WhatsApp Shopping Experience
Lu’s WhatsApp: A full end-to-end shopping experience, from search to payment Authentication Discovery Understanding Checkout Post-Sales Product Search ● New Feature: Implementation of "Personalized Memory", using data history ● New Feature: Integration for "Store Pickup" and application of "Gold Cli
Slide 25: Lu's WhatsApp Engagement and Conversion
Lu’s WhatsApp: Engagement and sales conversion rates significantly higher than traditional channels Unique Users Sales Conversion Customer Satisfaction Rate 3 million (NPS) 3x higher Conversations 83 points 5,6 million Payment Method Channel Mix Category Diversification 80% 79% 64% Lu provided accura
Slide 26: Gallery Magalu 2025
GALLERY MAGALU 2025 G A L L E R Y A NEW HUB FOR CULTURE, TECHNOLOGY, AND EXPERIENCE.
Slide 27: Expected Monthly Footfall
150 90k Brands Expected monthly footfall
Slide 28: Share of Units Sold
Share of Units Sold – Feb/26 Magalu and Kabum lead in revenue, while Época, Netshoes, and Estante Virtual dominate in units sold Top Vendas:
Slide 29: Galeria Magalu
GALERIA MAGALU
Slide 30: Magalu Ecosystem
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Slide 31: Investor Relations
INVESTOR RELATIONS RI@MAGAZINELUIZA.COM.BR MAGAZINELUIZA.COM.BR/RI Statements contained in this document regarding business outlooks, projections of operating and financial results, and growth prospects for Magazine Luiza are forward-looking statements. As such, they are based exclusively on manageme