Cencosud Shopping Sa · BCS:CENCOMALLS
Cencosud Shopping Sa — Cenco Malls — Q3 2025 Earnings Presentation
24 slides from Cencosud Shopping Sa's earnings presentation, November 2025
Slide 1: Corporate Presentation
Corporate Presentation Corporate Presentation November 2025
Slide 2: About Cenco Malls
Corporate Presentation 01 About Cenco Malls
Slide 3: Cenco Malls at a Glance
Corporate Presentation 1.1 Cenco Malls at a Glance Who We Are? Cenco Malls is a leading shopping center operator and developer with a presence in Chile, Peru, and Colombia. Listed on the stock exchange since 2019, the Company manages 41 shopping centers(1), an office complex, and land bank, promotin
Slide 4: Geographic diversification with a value focus in Chile
Geographic diversification with a value Corporate Presentation 1.2 focus in Chile Best-in-class portfolio with presence in: CHILE: PERU: COLOMBIA: • 11 Shopping Centers, 23 Power • 2 Shopping Centers and 1 • 2 Shopping Centers Centers (1) and the “Great tower Power Center • 2 Power Centers Costanera
Slide 5: Double-digit growth LTM
Corporate Presentation 1.3 Double-digit growth LTM Key Figures (1) LTM 3Q25 LTM 3Q24 Var. YoY +2,100 Stores Revenues (USD MM) 390 352 11.0% EBITDA (USD MM) Net Income 350 311 320 248 9.3% 25.2% 41 FFO (USD MM) 264 256 3.0% Shopping Centers GLA (sqm) (2) 1,418,455 1,372,113 3.4% Occupancy Rate (2) 97
Slide 6: Diversified GLA by Category, with a focus on Chile
Corporate Presentation 1.4 Diversified GLA by Category, with a focus on Chile ✓ The participation of essential GLA by Category (1) (September 2025) services predominates in shopping centers (-43 bps YoY) 8.4% 8.4% 2.2% ✓ The entertainment category has Entertainment increased 90 bps year over year. R
Slide 7: Organizational Structure & Board of Directors
Corporate Presentation 1.5 Organizational Structure & Board of Directors (1) Organizational Structure Board of Directors Manfred Internal Audit Paulmann Manager CEO Claudio Rojas Sebastián Bellocchio* CFO Commercial Manager Peter Jaime Agustín Letelier* Felipe Castro* Paulmann Soler Operations Manag
Slide 8: Corporate Strategy
Corporate Presentation 02 Corporate Strategy
Slide 9: Efficient model built on a premium portfolio and stable cash flow generation
Efficient model built on a premium Corporate Presentation 2.1 portfolio and stable cash flow generation Strategy Based on 4 Pillars 1 • Customer Knowledge • Innovation • Entrepreneurship and Sustainability • Growth and Profitability Value Proposition 2 Standing out for its premium quality, strategic
Slide 10: Efficiency, anchors, and scale → leading profitability
Efficiency, anchors, and scale → leading Corporate Presentation 2.2 profitability 1 • Lean structure and shared services within Cencosud. • Common technology platform enabling standardization and innovation. Centralized and efficient • Operating synergies through framework agreements, single supplie
Slide 11: ESG execution with operational impact
ESG execution with operational impact Corporate Presentation 2.3 Corporate governance People • Effective board governance and risk management • Employees: safety, development, and a people- with strong oversight and controls. centered culture. • Ethics and compliance: code of conduct, training • Ten
Slide 12: Business Structure
Corporate Presentation 03 Business Structure
Slide 13: Efficient structure that translates into profitability
Efficient structure that Corporate Presentation 3.1 translates into profitability Income Statement (1) Gross Net Margin Margin 96.5% 84.2% • In the last 12 months, the Company recorded a 96.5% Gross Margin and a 113.8% Operating Margin (including asset revaluation), reinforcing Cenco Malls’ cost eff
Slide 14: Resilient Revenues Structure
Corporate Presentation 3.2 Resilient Revenues Structure Revenues Breakdown (1) Contract Duration 70.8% Fixed Rent 13.8% Variable Rent Other 10.3% 15.7% 3.9% 7.0% 2.6% 75.8% Under 2 Between Between Between Over 5 2 and 3 3 and 4 4 and 5 Occupancy 97.8% 70.8% ~10 years rate v- 5 0 b p s v s Signed for
Slide 15: Key Metrics of the Asset Portfolio
Corporate Presentation 3.3 Key Metrics of the Asset Portfolio (2) Occupancy Rate (2) Visits (3) ('000) Chile 99.0% 128,401 Peru 89.1% 6,265 Colombia 84.7% 1,349 Consolidated 97.8% 136,015 Tenant Sales (3) NOI (%) (3) (CLP MM) Chile 4,724,422 90.8% Peru 115,729 79.5% Colombia 82,466 27.8% Consolidate
Slide 16: Solid Financial Position
Corporate Presentation 3.4 Solid Financial Position September 2025 CLP MM USD MM (1) Total Assets 4,516,343 4,693 • The Company holds the healthiest Net Financial Debt/Adjusted EBITDA ratio in the industry (2). Equity 2,981,066 3,098 • 100% of the debt is contracted at a fixed interest Gross Financi
Slide 17: Solid operating cash flow funding dividends and expansion
Corporate Presentation 3.5 Solid operating cash flow funding dividends and expansion Cash Position Evolution (1) (2) 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
Slide 18: Expansion Plan
Corporate Presentation 04 Expansion Plan
Slide 19: Latest progress in the investment plan
Latest progress in the investment plan Corporate Presentation 4.1 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 g
Slide 20: Latest progress in the investment plan
Latest progress in the investment plan Corporate Presentation 4.2 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
Slide 21: Latest progress in the investment plan
Latest progress in the investment plan Corporate Presentation 4.3 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 Mirad
Slide 22: Latest progress in the investment plan
Latest progress in the investment plan Corporate Presentation 4.4 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 wil
Slide 23: Disclaimer
Disclaimer The information contained in this presentation has Cenco Malls and its subsidiaries, directors, and been prepared by Cencosud Shopping S.A. employees accept no responsibility for any loss or (“Cenco Malls”) for informational purposes only. It damage that may arise from the use of this sho
Slide 24: Corporate Presentation
Corporate Presentation