Cp All Public Company Limited · SET:CPALL

Cp All Public — Q2 2026 Earnings Presentation

23 slides from Cp All Public's earnings presentation, August 2026

  1. Slide 1: 2Q2026 CPALL Business and Performance Briefing

    2Q2026 CPALL Business and Performance Briefing 1

  2. Slide 2: 2Q26: CVS and Consolidated Performance

    2Q26 : CVS and Consolidated Performance On-plan Execution of Excellence in a Dynamic Environment Company Only Consolidated Performance Performance 137,035 MB 29.3% 265,760 MB 22.8% +5.3% YoY Flat YoY +3.6% YoY Flat YoY Total Revenues Gross Profit Margin Total Revenues Gross Profit Margin 10.0% 10,39

  3. Slide 3: 1H26: CVS and Consolidated Performance

    1H26 : CVS and Consolidated Performance On-plan Execution of Excellence in a Dynamic Environment Company Only Consolidated Performance Performance 268,424 MB 29.5% 533,433 MB 22.8% +6.5% YoY +10 bps YoY +4.7% YoY Flat YoY Total Revenues Gross Profit Margin Total Revenues Gross Profit Margin 9.2% 17,

  4. Slide 4: Business Segment Performance

    Business Segment Performance CVS & Others and Grocery Wholesaling and Retailing 1H26 Revenue contribution 1H26 EBIT contribution before elimination before elimination 26% 67% 47% 11% 21% 12% 6% 10% CVS Makro Lotus's Others CVS Makro Lotus's Others Note: Exhibited figures include minority shareholdin

  5. Slide 5: Store Types Breakdown

    Store Types Breakdown Expanding Reach, Strengthening Presence 15,945 16,084 16,284 15,945 16,084 16,284 15,245 15,245 14,545 14,545 59% 7,751 7,795 7,870 48% 8,810 9,306 9,397 9,546 7,502 8,310 7,209 6,687 6,738 41% 7,336 7,743 8,194 8,289 8,414 52% 6,235 6,435 6,639 2023 2024 2025 1Q26 2Q26 2023 20

  6. Slide 6: Store Expansion in 2Q26

    Store Expansion in 2Q26 Expansion with Strategic Refinements 32 Stores (+2) 16,284 Stores (+200) 39 Stores (-24) 6

  7. Slide 7: Same Store Sales Growth

    Same Store Sales Growth Resilient Sales Despite Challenges SSSG (%) Average daily sales / store (Baht) 2023 2024 2025 1Q26 2Q26 85,998 85,843 +5.5% +3.8% -0.3% +1.9% +0.8% 83,906 83,777 Spending per ticket (Baht) 80,837 90 90 88 85 83 2023 2024 2025 1Q26 2Q26 No. of customer/store/day (customers) 20

  8. Slide 8: Product Sales Mix and Gross Margin

    Product Sales Mix and Gross Margin Strategic Product Mix Shaping for Margin Uplift Product Sales Mix Product Margin 29.3% 29.4% 29.3% 29.1% 29.1% 28.8% 24.8% 24.0% 23.7% 23.9% 23.6% 23.7% 22.5% 28.1% 28.0% 27.8% 27.8% 27.9% 27.8% 27.6% 26.9% 27.7% 27.7% 27.4% 27.4% 27.4% 75.2% 76.0% 76.3% 76.1% 76.4

  9. Slide 9: SG&A Expenses

    SG&A Expenses Balanced Cost Control That Reinforces Growth Company Only SG&A Expense Consolidated SG&A Expense (Unit: Million Baht) +4.5% YoY (Unit: Million Baht) +5.3% YoY 19.6% 19.7% 19.9% 19.4% 19.9% 19.2% 20.2% 27.0% 26.8% 27.0% 26.0% 26.5% 26.2% 26.3% 194,588 203,279 135,251 179,912 115,846 126

  10. Slide 10: Profitability Ratios – Company Only

    Profitability Ratios – Company Only Ongoing Margin Momentum Across All Operational Fronts Gross Profit (Sales & Services) EBIT (Unit: Million Baht) +5.3% YoY (Unit: Million Baht) +11.0% YoY 29.4% 29.0% 7.5% 28.2% 7.1% 6.2% 127,484 135,864 112,792 37,729 33,677 10.0% 29.3% 29.6% 29.3% 26,813 8.0% 9.4

  11. Slide 11: Profitability Ratios – Consolidated

    Profitability Ratios – Consolidated Ongoing Margin Momentum Across All Operational Fronts Gross Profit (Sales & Services) EBIT (Unit: Million Baht) (Unit: Million Baht) +3.5% YoY +3.9% YoY 22.6% 22.7% 5.3% 21.9% 5.2% 4.7% 225,117 53,813 216,507 51,388 196,271 43,012 6.0% 22.8% 22.8% 22.7% 22.8% 5.7%

  12. Slide 12: Leverage Ratios

    Leverage Ratios Disciplined Capital Structure and Optimized Funding Choices CPALL Cash& (Consolidated) Cash equivalent Interest bearing debt Other liabilities Other assets Equity As of June 30, 2026 CPALL CPAXT (Company Only) (Consolidation) • As of 30 June 2026, CPALL reported consolidated interest

  13. Slide 13: Financial and Capital Allocation

    Financial and Capital Allocation Enhancing Returns through Financial and Capital Allocation Share Buyback Cash Cycle Day CAPEX (CVS) Measured Repurchase Working Capital Efficiency Appropriate CAPEX Allocation Share Repurchase: 72 million shares Negative Cash Cycle Days 10% % of paid-up shares: 0.80%

  14. Slide 14: Appendix

    Appendix 15

  15. Slide 15: Consolidated Financial Statement – Balance Sheet

    Consolidated Financial Statement Balance Sheet 2023 2024 2025 1Q25 2Q25 1Q26 2Q26 Unit : Million Baht Cash & Cash equivalent 67,234 54,613 53,207 48,994 37,680 43,260 32,795 Inventory 57,501 61,269 74,143 62,373 62,318 68,562 68,442 Fixed assets 258,326 273,272 283,025 273,150 273,033 284,537 285,47

  16. Slide 16: Consolidated Financial Statement – Income Statement

    Consolidated Financial Statement Income Statement 2023 2024 2025 1Q25 2Q25 1Q26 2Q26 Unit : Million Baht Revenue from Sales & Services 895,281 958,998 990,663 245,798 248,865 259,355 257,098 Other Income 25,906 28,796 31,480 7,083 7,709 8,317 8,662 Total revenue 921,187 987,794 1,022,143 252,881 256

  17. Slide 17: Consolidated Financial Statement – Financial Ratios

    Consolidated Financial Statement Financial Ratios 2023 2024 2025 1Q25 2Q25 1Q26 2Q26 Gross margin (sales & service) (%) 21.9% 22.6% 22.7% 22.8% 22.8% 22.7% 22.8% Operating margin (%) 4.7% 5.2% 5.3% 5.7% 5.1% 6.0% 5.2% EBITDA margin (%) 8.6% 9.0% 9.0% 9.3% 8.8% 9.5% 8.8% Net margin (%) 2.0% 2.6% 2.8%

  18. Slide 18: Company Only Financial Statement – Balance Sheet

    Company Only Financial Statement Balance Sheet 2023 2024 2025 1Q25 2Q25 1Q26 2Q26 Unit : Million Baht Cash & Cash equivalent 25,956 24,149 24,427 27,693 18,545 22,352 17,224 Inventory 19,339 22,123 24,586 21,725 22,150 25,024 24,563 Fixed assets 46,569 48,075 49,359 48,106 48,168 49,277 49,387 Right

  19. Slide 19: Company Only Financial Statement – Income Statement

    Company Only Financial Statement Income Statement 2023 2024 2025 1Q25 2Q25 1Q26 2Q26 Unit : Million Baht Revenue from Sales & Services 399,558 439,787 462,854 113,970 117,706 121,958 123,719 Other Income 29,938 33,222 37,329 7,960 12,383 9,432 13,316 Total revenue 429,496 473,009 500,182 121,930 130

  20. Slide 20: Company Only Financial Statement – Financial Ratios

    Company Only Financial Statement Financial Ratios 2023 2024 2025 1Q25 2Q25 1Q26 2Q26 Gross margin (sales & service) (%) 28.2% 29.0% 29.4% 29.4% 29.3% 29.6% 29.3% Operating margin (%) 6.2% 7.1% 7.5% 8.0% 9.4% 8.5% 10.0% EBITDA margin (%) 10.1% 10.8% 11.2% 11.6% 12.9% 11.9% 13.3% Net margin (%) 3.6% 4

  21. Slide 21: ESG: Progress Towards 2030 Sustainability Goals

    ESG: Progress Towards 2030 Sustainability Goals for Phase 2 in 2021-2030 Significant material topics in 2025 Governance and Economic Environmental Dimension Social Dimension Dimension 7 Go Green 7 Go Together 7 Go Right 2025 2025 2025 Topic Goal Performance Topic Goal Performance Topic Goal Performa

  22. Slide 22: CPALL Stock Information and Major Shareholders

    CPALL Stock Information and Major Shareholders CPALL Stock Information Price (Aug 11, 2026) : Bt. 48.00 Hi/Low (12-month) : 54.50/40.50 Avg. daily turnover : 1,772 M. No. of shares : 8,952 M. (Par Bt1.00) Market capitalization : 429,696 MB. First trade date : Oct 14, 2003 Major Shareholders (as of M

  23. Slide 23: Disclaimer

    Disclaimer Items published on this presentation as IR information are intended to provide financial information or business information or etc. of CPALL. Some content may contain forward-looking statements, that based on management’s view upon the information currently available to us. These informa

CP ALL Public Company — Q2 2026 Earnings Presentation on 6ix