Distribuidora Internacional De Alimentacion Sa · BME:DIA
Distribuidora Internacional De Alimentacion Sa — Investor Presentation (June 2026)
40 slides from Distribuidora Internacional De Alimentacion Sa's investor presentation, Jun 2, 2026
Slide 1: Investor Presentation
Investor Presentation
Slide 2: Legal disclaimer
Legal disclaimer This presentation is purely informative and should not be considered as a service, recommendation or offer of any financial product, service or advice, nor should it be interpreted as, an offer to sell or exchange or acquire, or an invitation for offers to buy securities issued by D
Slide 3: Dia Group at a glance
Dia Group at a glance Fina ncia l KPI s ( 20 25 ) GSUB ADJ. EBITDA & MARGIN(1) Operating Cash Flow NET DEBT €m €m | Margin % €1.5bn €31m €(61)m €3m 21% 0.3% Net cash 1% €7.1bn €316m €332m €190m 5.4% Margin 79% 99% €5.7bn €313m €301m €251m 6.8% Net debt Opera t ing KPI s 50% 50% #1 Proximity Market B
Slide 4: A New Dia
1. A New Dia 4
Slide 5: Leading Spanish supermarket network in the attractive proximity segment
Leading Spanish supermarket network in the attractive proximity segment 1 SUCCESSFUL NEW PHASE OF ACCELERATED WINNING VALUE LONG-TERM VALUE TRANSFORMATION GROWTH: PROPOSITION CREATION PROCESS 2020 -2024 STRATEGIC PLAN 2025 -2029 Optimization of the proximity network Over 2,350 stores, with an averag
Slide 6: Successful business transformation
Successful business transformation 1 Successful strategic turnaround led to a visible financial enhancement 1 Portfolio Simplification 2019 2025 Stores(1) 3,046 2,358 2 Business Turnaround GSUB €5.2bn €4.6bn Sales density €3.1k/m2 €5.9k/m2 3 Organization Rationalization Adj. EBITDA(2) -€91m €313m Ad
Slide 7: Winning value proposition
Winning value proposition 1 1 2 3 4 PROXIMITY AND OMNICHANNEL ATRACTIVE ASSORTMENT FRANCHISE MODEL CONVENIENCE OFFERING Leveraging our Best quality at Nationwide efficient and scalable Pure proximity player, affordable prices, e-commerce speed franchise model to benefiting from new offering a comple
Slide 8: Strategic Plan 2025-2029: “Growing every day”
Strategic Plan 2025-2029: “Growing every day” 1 Pillars Dia Group main financial targets • Outpace the market average in annual LfL gross sales growth 1. Exciting our • Expand Club Dia by +1M loyal customers through 2029 customers 4-6% CAGR • Achieve a 10-point improvement in our customer NPS score
Slide 9: Delivering sustainable long-term cash generation
Delivering sustainable long-term cash generation 1 Strategic Plan will deliver strong cash generation to drive key objectives Uses of cash Dia Spain Cash Generation (€m)(1) I ✓ Funding organic store network growth ✓ Improve logistics infrastructure 301 Continue driving strong ✓ Head offices transfor
Slide 10: FY2025: Accelerated delivery…
FY2025: Accelerated delivery… 1 FY 2024 FY 2029 Strategic Plan Ambition Store openings +94 300 2025 - 2029 stores +8.6% Gross Sales Growth 1 +4% - 6% 2025 – 2029 (Annual Avg.) Adj. EBITDA margin2 +54 bps 6.8% 7.5% – 8.0% 2029 (by 2029) Capex €750 – 900 m 161 M€ (€150 – 180m Annual 2025 - 2029 Avg.)
Slide 11: … across the board
… across the board 1 Strategic Plan Ambition 2025 - 2029 FY 2025 Results Delivery • +7.4% LfL sales growth • Outpace the market average in annual LfL gross sales growth (+12 bps market share gain) 1. Exciting our • Expand Club Dia by +1M loyal customers through 2029 customers • +0.2 million Club Dia
Slide 12: Dia Spain Financial Performance
Dia Spain Financial 2. Performance 12
Slide 13: Winning value proposition and organic expansion driving accelerated growth …
Winning value proposition and organic expansion driving accelerated growth … 2 Dia Spain GSUB(1) Dia Spain Sales Growth vs Total Market Growth(2) €m % CAGR 11,1% +7.9% 10,4% 8,6% 9,4% 7,0% 5,5% 5.565 6,2% 4.856 5.123 4.431 4,6% 2,2% 2022 2023 2024 2025 2022 2023 2024 2025 1Q 2026 Dia Market Source:
Slide 14: … profitability improvement …
… profitability improvement … 2 Adj. EBITDA Margin(1) Dia Spain EBITDA Excluding Rent (EBITDAR) Margin vs Peers (3) % % Adj. EBITDA(1)(2) (€m) ~11% 123 188 266 313 ~10% ~10% +350bps ~9% ~8.5% EBITDAR Margin Average(4) 6,8% ~7% 6,2% ~7% 6.8% ~6% 4,8% Adj. EBITDA incl. Rent 3,3% AhorraMas DIA Eroski L
Slide 15: … and strong cash flow generation
… and strong cash flow generation 2 Dia Spain Cash Flow Generation(1)(2) Dia Spain Net Leverage(3) Gross Debt Maturities (4) €m Financing from Other syndicated lenders financial debt OCF CAPEX FCF 301 256 471 5,0x 157 149 140 129 14 2,2x -77 -99 -135 1,2x 26 25 23 -161 0,8x 13 11 3 2 1 1 -206 2026 2
Slide 16: Dia Argentina Financial Performance
Dia Argentina Financial 3. Performance 16
Slide 17: Leveraging our strong competitive position to capitalize on the expected recovery
Leveraging our strong competitive position to capitalize on the expected recovery 3 #1 Proximity Food Retailer in Buenos Aires … … with a unique customer value proposition Leading Market Position Thanks to our Unique Value Proposition and Store Footprint in Buenos Aires Top-of-mind brand in Buenos A
Slide 18: Gradual recovery in food consumption expected from 2H26 onwards
Gradual recovery in food consumption expected from 2H26 onwards 3 Disposable Income and Supermarket Consumption 4 LFL Sales volumen change (%) in Argentina 110 105 -3,5% 100 -5,1% -4,1% 95 -7,3% 90 -12,1% 85 -15,4% 80 -18,8% 75 -20,6% D-23 J-24 D-24 J-25 D-25 J-26 D-26 J-27 D-27 -26,2% Real GDP 1 Di
Slide 19: Prudent cost management and capex discipline to preserve its net cash position
Prudent cost management and capex discipline to preserve its net cash position 3 Commercial Revitalization Operational Efficiency Financial Discipline • Assortment Optimization: Refined • Active Margin Management: Proactive • Targeted Maintenance CAPEX: Strategic product mix to align with shifting c
Slide 20: Protecting profitability amid a generalized slowdown in consumption
Protecting profitability amid a generalized slowdown in consumption 3 Dia Argentina GSUB Adj. EBITDA Margin(1) €m €m 6,3% CAGR +6.5%% -10.5%% 3,8% 1,6% 1.770 1.886 1.778 0,3% 1.510 2022 2023 2024 2025 Adj. EBITDA (€m) 52 59 26 3 2022 2023 2024 2025 (1) Calculated over net sales. 20
Slide 21: Available liquidity provides flexibility to navigate the expected market recovery
Available liquidity provides flexibility to navigate the expected market recovery 3 Dia Argentina Cash Flow Generation Net Cash Position €m €m CAPEX OCF FCF 106 75 71 46 109 34 31 3 89 -26 -25 -28 61 56 -72 -101 2022 2023 2024 2025 2022 2023 2024 2025 21
Slide 22: Dia Group Credit Metrics & Financial Policy
Dia Group Credit Metrics 4. & Financial Policy 22
Slide 23: FY2025 consolidated FCF and net debt change
FY2025 consolidated FCF and net debt change 4 • Strong operating cash generation: cash flow driven by improved profitability and working capital optimization • Fully funded CAPEX: expansion is self-funded by operating cash flow, validating our strict capital allocation discipline • Real and sustaina
Slide 24: Dia Group consolidated debt structure and liquidity position
Dia Group consolidated debt structure and liquidity position 4 Dia Group Net Debt, Gross Debt, Liquidity and LR December, 2025: €m 700 2,5 588 • Net Debt of the Group is EUR 190m and a total liquidity of €484m 574 547 600 2,0 (included trapped cash) 482 484 500 422 • The liquidity covers the 88% of
Slide 25: Financial policy
Financial policy 4 Focus capex allocation to maintain a high level of free cash flow Absolut focus on executing our organic growth roadmap outlined in our STRICT FINANCIAL Strategic Plan DISCIPLINE Any potential inorganic opportunity is assessed against our rigorous acquisition criteria, which are d
Slide 26: Strong management team fully aligned and committed to the execution of our Strategic Plan
Strong management team fully aligned and commited to the execution of our Strategic Plan Our Leadership and Expertise Brings a Clear Vision for the Next Growth Phase of Dia Martín Guillaume Ricardo Agustín Tolcachir Gras Álvarez Ibero Group CEO Group CFO CEO Dia CEO Dia 29 29 25 22 25 25 33 14 Previ
Slide 27: Supported by an independent and experienced Board of Directors
Supported by an independent and experienced Board of Directors The Board's skills and capabilities have been renovated and aligned with our growth strategy New composition of the board On 22 January 2026, the Board of Directors agreed to appoint Mr. Benjamin J. Babcock as nonexecutive chairperson of
Slide 28: Closing Remarks and Outlook
Closing Remarks and 5. Outlook 28
Slide 29: Delivering on our Strategic Plan for sustainable value creation
Delivering on our Strategic Plan for sustainable value creation 4 DIA SPAIN • The excellent results achieved in the first year of our 'Growing Every Day’ Strategic Plan validate the success of our proximity model and the strength of our customer-centric strategy • We are delivering robust, volume-le
Slide 30: Appendix
Appendix
Slide 31: Exceptional share price recovery and surging liquidity
Exceptional share price recovery and surging liquidity A powerful market endorsement of our strong operating performance and solid prospects for profitable growth Stock Performance Average Daily Trading Liquidity Volume (shares) 2025 €/Share € 2,3 m +140% €m / day € 1,9 m € 1,8 m € 1,7 m 400.000 40,
Slide 32: Proactive investor engagement to showcase Dia’s value
Proactive investor engagement to showcase Dia’s value Dia’s Coverage Broadening our EXPANDED has grown from 4 ANALYST visibility among to 7 in the last COVERAGE year. Our target is institutional to reach 8 in 2026 investors Madrid London Frankfurt Copenhague Proactively engaging PROACTIVE ROADSHOW L
Slide 33: P&L summary
P&L summary FY 2025 FY 2024 % YoY Change Argentina IAS-29 Argentina Argentina IAS-29 Argentina Argentina Argentina Spain Group Spain Group Spain Group €m Exc. IAS-29 effect Inc. IAS-29 Ex. IAS-29 effect Inc. IAS-29 Ex. IAS-29 Inc. IAS-29 Gross Sales Under Banner 5,565.1 1,510.5 - 1,510.5 7,075.5 5,1
Slide 34: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA FY 2025 FY 2024 % YoY Change 1 €m Spain Argentina Group Spain Argentina Group Spain Argentina Group EBITDA 458.0 (0.3) 457.8 392.5 (72.9) 319.6 16.7% 99.6% 43.2% EBITDA from discontinued operations (48.2) Expenses (Income) related to store and warehouse closures or
Slide 35: Cash Flow summary, based on Adjusted EBITDA
Cash Flow summary, based on Adjusted EBITDA 12M 2025 12M 2024 % YoY Change 1 €m Spain Argentina Group Spain Argentina Group Spain Argentina Group Adjusted EBITDA 312.7 3.5 316.2 265.8 26.1 243.6 17.7% (86.7%) 29.8% Total restructuring costs (22.4) (6.1) (28.5) (35.7) (3.3) (39.0) 37.1% (81.9%) 27.0%
Slide 36: Group balance sheet summary
Group balance sheet summary Group €m dec-25 dec-24 Change Non-current assets 1,526.4 1,512.6 13.8 Non-current assets held for sale 9.8 0.0 9.8 Stocks 247.4 290.0 (42.6) Trade and other receivables 139.9 133.1 6.8 Other current assets 29.9 38.1 (8.2) Cash and cash equivalents 356.6 333.0 23.6 Total a
Slide 37: Net Debt
Net Debt 31-dec-25 31-dec-24 %YoY Change €m Spain Argentina Group Spain Argentina Group Spain Argentina Group Non-current financial debt 516.6 0.0 516.6 518.2 0.0 518.2 (0.3%) - (0.3%) Current financial debt 19.7 0.0 19.7 36.4 0.0 36.4 (45.8%) - (45.9%) 1 Non current financial lease liabilities 6.0
Slide 38: Reconciliation of group cash flow and net debt change
Reconciliation of group cash flow and net debt change Statement of cash flows Financial Financial 2025 Net presented in Lease payments and income SUBTOTAL debt Debt Change annual expenses variation €m accounts Result before tax + adjustments to the result + increases and decreases in other assets an
Slide 39: Stores
Stores No. Spain Argentina Owned Franchised Total Owned Franchised Total Number of stores Dec. 31st, 2024 790 1,512 2,302 247 794 1,041 Openings 25 69 94 0 0 0 Net transfer of store operations (20) 20 0 16 (16) 0 Closings (21) (17) (38) (11) (23) (34) Number of stores Dec. 31st, 2025 774 1,584 2,358
Slide 40: investor.relations@diagroup.com
investor.relations@diagroup.com T: +34 913985400 www.diacorporate.com
Distribuidora Internacional de Alimentación, S.A. (Dia) — Investor Presentation (June 2026) on 6ix