Iguatemi Sa · BMFBOVESPA:IGTI3
Iguatemi Sa — Q4 2025 Earnings Presentation
15 slides from Iguatemi Sa's earnings presentation, 2026
Slide 1: Conference Call 4Q25
Shopping Iguatemi Porto Alegre CONFERENCE CALL 4Q25 1
Slide 2: Agenda
Agenda 1. Quarter Highlights 2. Operational and Financial Performance 3. Guidance 2025 2
Slide 3: Expansion and qualification drive portfolio sales in 4Q25
EXPANSION AND QUALIFICATION DRIVE PORTFOLIO SALES IN 4Q25 Growth January 26 (vs. Jan25) - Total sales:: +18.5% Sales Growth 4Q’S (R$ billion) - SAS: 10.0% Total sales per sqm (R$ thousand per quarter) +12.8% +7.0% 7.90 11.5 7.00 10.7 5.88 5.26 9.3 4.75 8.4 4Q21 4Q22 4Q23 4Q24 4Q25 4Q22 4Q23 4Q24 4Q2
Slide 4: Real rental growth reinforces asset profitability strategy
REAL RENTAL GROWTH REINFORCES ASSET PROFITABILITY STRATEGY Real SAR and Rental/sqm Growth - Malls Occupation cost evolution (% of sales) +2.6 p.p. +9.5% 5.9% 884 11.8% 807 11.1% 3.3% -0.1 p.p. 100.5% 10.4% IGPM SAR 4Q25 4Q24 4Q25 4Q22 4Q23 4Q24 4Q25 readjustment effect on the portfolio 4
Slide 5: Occupancy rate ends the year at 98.2% in December
OCCUPANCY RATE ENDS THE YEAR AT 98.2% IN DECEMBER, MAINTAINING ITS LEVEL AND REFLECTING THE CONTINUED PRESENCE OF LARGE LEASED AREAS DURING THE YEAR Occupancy rate progression (% GLA) -1.0 p.p. 97.7% 96.6% 96.7% Locale – Gardens Iguatemi Porto Alegre 96.4% 96.1% HIGHLIGHTS • Iguatemi São Paulo: Reop
Slide 6: Iguatemi announces new media sponsorship
IGUATEMI ANNOUNCES NEW MEDIA SPONSORSHIP, INCLUDING EVENT SPONSORSHIP AND EXCLUSIVE DISCOUNTS AT THE GROUP'S SHOPPING CENTERS Highlights ▪ The temporary rental line has seen significant growth, with a • Iguatemi signed a new sponsorship agreement with Bradesco, operator of CAGR of 14.1% since 2019;
Slide 7: M&A agenda contributes to improvement in operating indicators
M&A AGENDA CONTRIBUTES TO IMPROVEMENT IN THE COMPANY'S OPERATING INDICATORS DIVESTMENTS ACQUISITIONS o In 4Q25 Iguatemi completed the sale of minority interests in four o In 1Q26, Iguatemi signed a binding MOU with BB Premium Malls assets within its portfolio: Iguatemi Alphaville (9.0%), Iguatemi (B
Slide 8: Iguatemi – Culture, Experiences and People
IGUATEMI – CULTURE, EXPERIENCES AND PEOPLE CHRISTMAS TRANCOSO REFERENCE IN ESG o Iguatemi ended another year with an o Iguatemi returned to Praia das Tartarugas o Iguatemi wraps up 2025 with important ESG exclusive Christmas program; beach in Trancoso with a summer program recognitions; between Dece
Slide 9: Agenda
Agenda 1. Quarter Highlights 2. Operational and Financial Performance 3. Guidance 2025 9
Slide 10: Main Operational Indicators
MAIN OPERATIONAL INDICATORS Operational Indicators 4Q25 4Q24 Var. % 2025 2024 Var. % Average Total GLA (m²) 790,757 753,036 5.0% 751,145 732,169 2.6% Final Owned GLA (m²) 450,272 480,957 -6.4% 449,619 480,957 -6.5% Average Owned GLA (m²) 450,272 480,957 -6.4% 449,619 486,323 -7.5% GLA Total Average
Slide 11: Economic and Financial Performance
ECONOMIC AND FINANCIAL PERFORMANCE Financial Indicators – Managerial 4Q25 4Q24 Var. % 12M25 12M24 Var. % Net revenue 416,033 363,711 14.4% 1,502,040 1,258,887 19.3% EBITDA (R$ thousand) 306,098 301.033 1.7% 1,268,314 937,877 35.2% EBITDA Margin 73.6% 82.8% -9.2 p.p. 84.4% 74.5% 9.9 p.p. Net Income (
Slide 12: Indebtedness and Liability Management
INDEBTEDNESS AND LIABLITY MANAGEMENT Debt amortization timetable 1,838 Cash Coverage Bonds Real Estate Receivables Certificiate (CRI) Others 759 662 46 647 86 86 420 435 1,838 86 69 301 443 309 426 712 16 86 86 229 15 73 367 318 200 49 49 39 37 229 118 150 150 12 37 12 37 2 37 37 Current cash 2026 2
Slide 13: Agenda
Agenda 1. Quarter Highlights 2. Desempenho Operacional e Financeiro 3. Guidance 2025 13
Slide 14: Guidance
GUIDANCE ANUAL X REALIZADO GUIDANCE (1) Guidance 2025 Completed 12M25 Net revenue growth – Malls (2) 7– 11% 12.7% EBITDA Margin – Malls (2) 82 – 85% 84.4% EBITDA Margin – Total (3) 75 – 79% 76.2% Investment (BRL million) (4) (5) R$330 – R$400 R$301.04 (1) Amounts without straight-line effect. (2) In
Slide 15: Contact
Contact Ciro Neto CEO Guido Oliveira CFO and IR Officer +55 11 3137-7134/ 7037 ri@Iguatemi.com.br Marcos Souza IR Director https://ri.Iguatemi.com.br/ Victor Barbosa IR Manager Ana Beatriz Lima IR Analyst Considerations regarding business prospects, estimates of operational and financial results, an