Corpovael Sa De Cv Class A · BMV:CADU/A
Corpovael Sa De Cv Class A — Investor Presentation (July 2026)
30 slides from Corpovael Sa De Cv Class A's investor presentation, July 2026
Slide 1: Information for Investors
INFORMATION FOR INVESTORS July 2026 1
Slide 2: Disclaimer
DISCLAIMER • This presentation is strictly confidential, is being provided to you only for informational purposes and has not been reviewed or authorized by the Comisión Nacional Bancaria y de Valores (CNBV) (Mexican National Banking and Securities Commission). It may not be duplicated or redistribu
Slide 3: Background
BACKGROUND CADU Inmobiliaria, S.A. de C.V. is a housing development Company with 24 years of presence, established at the end of 2001 in the city of Aguascalientes. In 2004, CADU started operations in Quintana Roo and, since 2008, has remained in first place in home titling through INFONAVIT in the
Slide 4: CADU's Summary
CADU’S SUMMARY ✓ Corpovael, S.A.B. de C.V. (CADU) is a Mexican Company that develops and builds affordable entry-level homes, middle-income homes, middle-income residential homes and residential homes. ✓ Proven experience in design, urbanization, construction, promotion and sale of homes. ✓ From 200
Slide 5: Important Historical Events
IMPORTANT HISTORICAL EVENTS Third issuance of First Sustainability Local Notes for MXN Report 400 million Rating A- by Fitch Home sales and HR(1) Fifth issuance Starts start in the For the second of Local Notes Corporate states of consecutive year, for MXN 500 credit rating Guanajuato “ALLURE” recog
Slide 6: Product Mix
PRODUCT MIX Product Sale price Funding source Affordable entry-level Up to MXN 1,500,000 Mainly financed by INFONAVIT to affiliated workers who are buying homes their first home. Between MXN 1,500,001 and Middle-income homes MXN 3,000,000 Financed mainly by FOVISSSTE, INFONAVIT and financial institu
Slide 7: Middle-income, Middle-income Residential and Residential Segments
MIDDLE-INCOME, MIDDLE-INCOME RESIDENTIAL AND RESIDENTIAL SEGMENTS Middle-income / Middle-income residential segments Evolution of Revenues by Housing Segment 56% 57% 62% 63% 67% 69% 70% 79% 75% 80% Apartments and houses with prices above MXN 1.5 million and up to MXN 3.0 million in the Middle-income
Slide 8: Financial Indicators
FINANCIAL INDICATORS Revenue (MXN million) EBITDA (MXN million) and EBITDA margin % Annual growth rate % EBITDA margin 12% 3% -7% -23% -16% 34% 21% -0.4% 12.9% 23% 24% 25% 15% 12% 17% 17% 16% 15% 15% 5,537 1,111 1,083 5,066 1,042 4,507 4,626 4,506 4,487 4,304 818 3,727 745 785 716 3,297 641 2,779 48
Slide 9: Balance Sheet, Debt and Leverage Ratios
BALANCE SHEET, DEBT AND LEVERAGE RATIOS Balance Sheet (MXN million) DEBT - Debt Maturity profile Total Liabilities / Stockholders’ Equity Total Debt (as of June 2026) = MXN 2,714 million 1.0x 1.1x 1.0x 1.1x 1.1x 1.2x 1.2x 1.0x 1.2x 13,083 11,295 11,846 11,591 10,012 10,014 10,127 10,427 9,383 6,019
Slide 10: Sustainability – ESG / Environmental, Social, Governance
SUSTAINABILITY – ESG / Environmental, Social, Governance BUSINESS VISION: DEVELOP WELL-BEING Care for Social Sound Environment Responsibility Corporate Governance
Slide 11: Sustainability – ESG / Corporate Governance
SUSTAINABILITY – ESG / Corporate Governance Member of CADU Name Position Profile since Specialist in Independent Strategy, housing, business Pedro Vaca Elguero Chairman and CEO Patrimonial member 2009 development, textile industry, public relations. Patrimonial Patrimonial Operations, construction,
Slide 12: Sustainability – ESG / Management Team and ESG Committee
SUSTAINABILITY – ESG / Management Team and ESG Committee Our Management Team has extensive combined knowledge To meet the commitments of the Green Bond Program and our of the housing development sector, and, as you can see, all vision of sustainability, we have formed a Sustainability Committee at t
Slide 13: Sustainability – ESG / Social Responsibility
SUSTAINABILITY – ESG / Social Responsibility Occupational health and safety Co-workers Ethics Communities Social initiatives carried out during 2025 • CADUTÓN 2025. The second edition of the program was held, featuring recreational activities, a Science Fair, piñata games, and gift-giving to childre
Slide 14: Sustainability – ESG / Environmental
SUSTAINABILITY – ESG / Environmental CADU is working to consolidate its position as one of the leaders in the ECOCASA is a program that aims to reduce housing sector in terms of environmental practices, through the Greenhouse Gas (GHG) emissions by at least development of sustainable housing prototy
Slide 15: Sustainability – ESG / Sustainable Projects - Aldea Tulum
SUSTAINABILITY – ESG / Sustainable Projects - Aldea Tulum Aldea Tulum complies with the 7 priority points framed in the United Nations Human Settlements Programme (UN-Habitat). 1. Security of tenure (deed) 2. Availability of services, materials, facilities and infrastructure 3. Affordability 4. Habi
Slide 16: Industry Benchmark (January to June 2026)
INDUSTRY BENCHMARK (January to June 2026) UNAUDITED Home Sold Revenue (MXN million) Total Revenue (MXN million) EBITDA (MXN million) $11,819 $11,921 $2,101 $7,530 $7,567 $1,307 $5,916 $6,009 $979 $4,451 $4,593 $624 $2,135 $2,370 $372 $370 CADU ARA VINTE RUBA Ind. Ave. CADU ARA VINTE RUBA Ind. Ave. C
Slide 17: Industry Benchmark (January to June 2026)
INDUSTRY BENCHMARK (January to June 2026) UNAUDITED Units Sold Average Sale Price (MXN Net Income (MXN million) thousands) 7,086 $1,658 $1,438 6,252 $1,418 $1,204 $1,232 $1,277 4,726 3,140 $634 $492 1,733 $364 $157 CADU ARA VINTE RUBA Ind. Ave. VINTE CADU ARA RUBA Ind. Ave. CADU ARA VINTE RUBA Ind.
Slide 18: Industry Benchmark (January to June 2026)
INDUSTRY BENCHMARK (January to June 2026) Cost of Sales / Total Revenue Gross Income / Total Revenue Operating Income / Total Revenue 77.5% 30.0% 30.8% 17.5% 28.2% 25.7% 74.3% 22.5% 13.1% 11.4% 71.8% 9.2% 9.6% 69.2% 70.0% VINTE RUBA ARA CADU Ind. Ave. CADU ARA RUBA VINTE Ind. Ave. ARA CADU VINTE RUB
Slide 19: Industry Benchmark (as of June 2026)
INDUSTRY BENCHMARK (as of June 2026) Total Liabilities / Stockholders’ Total Debt / EBITDA Net Debt / EBITDA Equity 2.2 3.2 3.3 2.8 2.6 2.81 1.59 2.0 1.87 1.2 0.7 0.6 0.3 0.3 ARA RUBA CADU VINTE Ind. Ave. 3 RUBA ARA VINTE CADU Ind. Ave. 3 RUBA ARA VINTE CADU Ind. Ave. 3 BMV BMV -0.1 BMV ROE (LTM Net
Slide 20: Industry Benchmark (as of June 2026)
INDUSTRY BENCHMARK (as of June 2026) Days Sales Outstanding Inventory Days (includes Land Supplier Days Bank) 88 1079 1,079 204 210 823 617 656 122 99 34 23 17 RUBA ARA VINTE CADU RUBA VINTE CADU ARA ARA VINTE RUBA CADU Prepayment Days Working Capital Cycle (includes Land Bank) 37 1,002 1002 664 565
Slide 21: Housing Sector in Mexico 2030e
HOUSING SECTOR IN MEXICO There are 8.4 million households in housing Housing demand supported by three factors backwardness million households in backwardness % households in backwardness 30 31 1 Housing backwardness (i.e. substandard living conditions) 28 28 28 25 24 22 2 New household formation 9.
Slide 22: Housing Sector in Mexico
HOUSING SECTOR IN MEXICO Projected credit allocation by destination for 2026* Purchase of new and existing homes in Mexico (thousands of credits) (thousands of actions) 758.3 654.0 667.0 600 500 400 2025 Forecast 2025 Result 2026 Forecast 300 Purchase 354.7 371.0 342.7 200 Construction 3.3 3.6 5.4 I
Slide 23: Housing Sector in Mexico
HOUSING SECTOR IN MEXICO Share of commercial banks (and Sofoles) in total Potential demand from INFONAVIT beneficiaries by salary mortgage loans bracket (UMA*) 56% Beneficiaries (as of February 2025) 53% 52% 47% 47% 44% 44% 45% 43% 46% 43% 44% 45% 45% 3,054,269 38% 2,736,318 32% 33% 29% 1,978,593 1,
Slide 24: Housing Sector in Mexico
HOUSING SECTOR IN MEXICO In recent years, the increased participation of the private sector has diversified sources of credit Loan amount for home purchase by institution Housing acquisition actions by institution (Base year 2025) 788,329 713,504 658,281 $511 $513 $507 $540 $567 MXN thousands of mil
Slide 25: Photos of Affordable Entry-Level Segment (up to MXN 1,500,000)
PHOTOS OF AFFORDABLE ENTRY-LEVEL SEGMENT (up to MXN 1,500,000)
Slide 26: Photos of Middle-Income Segment (MXN 1,500,001 to 3,000,000)
PHOTOS OF MIDDLE-INCOME SEGMENT (from MXN 1,500,001 to MXN 3,000,000)
Slide 27: Photos of Middle-Income Residential Segment (MXN 3,000,001 to 5,000,000)
OTOS OF MIDDLE-INCOME RESIDENTIAL SEGMENT (from MXN 3,000,001 to MXN 5,000,00
Slide 28: Photos of Residential Segment (over MXN 5,000,001)
PHOTOS OF RESIDENTIAL SEGMENT (over MXN 5,000,001)
Slide 29: Annex - Cancun Airport Passenger Traffic
ANNEX - CANCUN AIRPORT PASSENGER TRAFFIC ASUR- Cancun Airport Passenger Traffic (million) - LTM 32.6 32.2 32.4 32.5 32.6 32.6 32.7 32.8 32.8 32.9 33.0 32.8 32.6 32.4 31.5 31.8 32.0 31.9 31.5 31.2 30.9 30.3 31.0 30.6 30.4 30.3 29.5 29.9 30.0 29.9 29.8 29.7 29.7 29.7 29.6 29.5 29.1 29.5 29.4 29.3 29.3
Slide 30: Annex - Rooms and Hotels in Quintana Roo
ANNEX - ROOMS AND HOTELS IN QUINTANA ROO ROOMS - QUINTANA ROO (as of May 2026) 135,430 139,949 140,760 127,399 130,123 114,789 118,772 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 May-26 HOTELS - QUINTANA ROO (as of May 2026) 1,474 1,481 1,481 1,331 1,349 1,188 1,200 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24
Corpovael, S.A.B. de C.V. (CADU) — Investor Presentation (July 2026) on 6ix