29 slides from Multiplan Empreendimentos Imobiliarios Sa's investor presentation, January 2026
Slide 1: Multiplan presentation
Multiplan presentation January 2026 Contact the Investor Relations team at: ri.multiplan.com.br ri@multiplan.com.br +55 21 3031-5400 BarraShopping
Slide 2: Disclaimer
Disclaimer This document may contain prospective part or totally by the Company with no prior Brasil, Bolsa, Balcão, which is the market listing statements and goals, which are subject to risks warning. segment where the shares of the Company are and uncertainties as they are based on External audit
Slide 3: Agenda
1. About Multiplan 2. Corporate Governance 3. initiatives Environmental and Social 4. Key takeaways 3
Slide 4: 1 About Multiplan
1 About Multiplan 4 VillageMall – Rio de Janeiro
Slide 5: The shopping center market in Brazil
The shopping center market in Brazil 1 Reasons to visit a mall3 648 malls in operation X P E R I EN CE 57.0% E Leisure 249 cities with malls 31.0% Dining Services 5.0% R$198.4 B in sales 21.0% 18.2 M sq.m of GLA 2 43.0% Shopping 28,011 sq.m of average GLA per mall 2 Before: “Consumption Today: “Soci
Slide 6: Multiplan at a glance
Multiplan at a glance Recognized developer and manager of top-of-mind malls and mixed-use projects in Brazil for 50 years 20 shopping centers 864,020 sq.m of private Over with more than 6,000 area2 for future mixed-use 70,000 jobs operations & 2 office projects in 11 malls created complexes AL 941,4
Slide 7: Multiplan's strategic pillars
Multiplan’s strategic pillars Leading mall portfolio Developer DNA Quality leading to productivity 18 of its 20 malls were developed by Multiplan above the national average and many are integrated to mixed use projects Long-term view Experienced management Focus on city growth Management with solid
Slide 8: Leaders and gaining market share
vs. 2T22 vs. 2T22 vs. 2T22 vs. 2T22 Leaders and gaining market share Multiplan’s share¹ in Brazil 2019 2024 R$26,914/sq.m Sales/GLA 169.9% 246.2% R$10,930/sq.m R$24.0 billion Shopping malls’ sales 8.5% 12.1% R$198.4 billion 890,301 sq.m GLA 5.0% 4.9% 18,151,216 sq.m 20 malls Number of malls 3.3% 3.1
Slide 9: Consistent long-term growth
Consistent long-term growth (CAGR1 % 2007- Sep-25 LTM) Sales2 Gross Revenue NOI3 EBITDA FFO4 Net income 25,473 2,980 2,004 1,963 1,441 1,232 4,244 369 212 175 56 21 2007 Sep-25 2007 Sep-25 2007 Sep-25 2007 Sep-25 2007 Sep-25 2007 Sep-25 (R$ millions) (LTM) (LTM) (LTM) (LTM) (LTM) (LTM) +10.6% +12.5%
Slide 10: A lot has been done since the IPO
A lot has been done since the IPO 1 9 malls opened 21 malls expansions completed 19 minority stake acquisitions 12 office and residential towers built R$3.0 B in share buybacks 2 R$4.5 B in dividends distributed 2 R$11.3 B in capex 3 ¹ Multiplan’s IPO was held in Jul-07. 2 Data refers to Dec-25. 3 D
Slide 11: 2 Corporate Governance
ParkJacarepaguá – Rio de Janeiro 2 Corporate Governance 11
Slide 12: Governance prioritized over the years
Governance prioritized over the years Developing and promoting transparency, ethics and corporate responsibility helps mitigate risks More than 60% of shares in the free float in Sep-25 Level 2 Corporate Governance at B3 Multidisciplinary board with extensive and diversified experience in the sector
Slide 13: Highly experienced management team with over 20 years at Multiplan
Highly experienced management team with over 20 years at Multiplan Executive Board Member Title Company time (years) Eduardo Kaminitz Peres CEO 37 Vice President - Financial and Investor Armando d’Almeida Neto 18 Relations Officer Marcello Kaminitz Barnes Vice President – Development 35 Marcelo Ferr
Slide 14: Fully independent fiscal council
Fully independent fiscal council Fiscal Council Member Date of Election End of term Vitor Rogério da Costa March 28, 2025 until 2026’s AGM Ian de Porto Alegre Muniz March 28, 2025 until 2026’s AGM Carlos Alberto Alvahydo March 28, 2025 until 2026’s AGM de Ulhôa Canto Mauro Eduardo Guizeline March 28
Slide 15: Board of Directors with 3 independent members
vs. 2T22 vs. 2T22 Board of Directors with Board of Directors’ independence track record 3 independent members 43.0% 29.0% 14.0% Board of Directors 2023 2024 2025 Member Title Date of Election End of term José Isaac Peres Chairman April 26, 2024 until 2026’s AGM Antonio Paulo Board composition Consol
Slide 16: Attendance and approval rate
Attendance and approval rate Approval rate in all AGM attendance rate Management proposals 100.0% 84.0% 85.0% 83.0% 2023 2024 2025 16
Slide 17: Board of Directors' composition
Board of Directors’ composition 1 José Isaac Peres Ana Paula Kaminitz Peres Eduardo Kaminitz Peres Chairman Member Member • Founded Multiplan in 1974; • Joined Multiplan in 2008; • Joined Multiplan in 1988, holding various • Chairman of the Board and served as • Currently serves as Commercial positi
Slide 18: Board of Directors' composition
Board of Directors’ composition 1 José Paulo Ferraz do Amaral Antonio Paulo Carvalho Pierotti Gustavo Henrique de Barroso Leonardo Porciúncula Gomes Franco Pereira External Member Independent Member Independent Member Independent Member • Graduate of Mackenzie University and FGV; • Holds a degree in
Slide 19: Board skills
Board competencies mapped to strategic priorities Strategic pillars Leading mall Developer Long-term Experienced Full-service Governance and portfolio DNA view management strategy Sustainability Real Estate Industry Retail Market Capital Markets Finance Strategic Planning Marketing Risk Management B
Slide 20: Board of Directors' diversified expertise and skills
Board of Directors’ diversified expertise and skills Real Estate Risk Entrepreneurship Industry Management Leadership Retail Mix Market Management Sustainability Capital People Markets Management Mall Operations Finance Crisis Management Strategic Corporate Technology Planning Governance Marketing L
Slide 21: The Board of Directors provides oversight on a range of topics
The Board of Directors Key topics provides oversight on a Artificial intelligence Multi app range of topics Macro risks Capital allocation Leverage Development Main roles REITS Remuneration Approve Annual Strategic Plan; Tax reform Income and Goals Oversight results and compensation; IFRS S1, S2 Dis
Slide 22: Management compensation structure
Management compensation strucuture1 Variable compensation is based on achievement of KPIs and is the major part of compensation Component Objective / Pricing • Aligns with position responsibilities internally and externally. Annual remuneration – Board of • Recognizes performance, experience, educat
Slide 23: Management: long-term goals and indicators
Management: long-term goals and indicators BarraShopping Compensation approval rate1 and performance metrics KPIs and strategy alignment 99.2% 99.3% Long-term 98.2% KPIs that go beyond current-year performance (e.g.: IRR, Conservation, Liability Management) 2023 2024 2025 Quality Primary Secondary C
Slide 24: 3 Environmental and Social initiatives
ParkShoppingSãoCaetano – São Paulo 3 Environmental and Social initiatives 24
Slide 25: Sustainability and social initiatives: 2025 highlights
Increase in independent representation on the Board Sustainability and of Directors from 29% to 43% social initiatives: 2025 highlights ~500 pets adopted at 1,300 events held in malls the Company’s malls throughout the year 141 tons Multiplan celebrates 10 years of “Multiply the Good” of food donate
Slide 26: Sustainable initiatives prioritized over the years
Sustainable initiatives prioritized over the years Environmental sustainability includes biodiversity, green buildings, renewable energy, and water conservation. Embracing these enhances efficiency, innovation, and risk management 100% of the malls' energy from renewable sources 100% of shopping cen
Slide 27: Sustainable initiatives prioritized over the years
Sustainable initiatives prioritized over the years Social sustainability means investing in the well-being of our customers and tenants ~80,000 1,300 Over 5,000 bags of blood donated in 2025 (22,000 lives saved) More than 235 actions carried out under the jobs created events at malls¹ “Multiply the
Slide 28: 4 Key takeaways
VillageMall – Rio de Janeiro 4 Key takeaways 28
Slide 29: Ideas to leave with...
Ideas to leave with… 1. Long-term cycles: demands long-term view and commitment 2. Reference shareholder: founder aligned with long-term view and governance 3. Strategy: based on Quality over Quantity 4. Capital allocation: Multiplan balances growth with shareholder returns 5. Corporate Governance: