Cencosud Shopping Sa · BCS:CENCOMALLS
Cencosud Shopping Sa — Investor Presentation (August 2026)
31 slides from Cencosud Shopping Sa's investor presentation, August 2026
Slide 1: Corporate Presentation
Corporate Presentation Santiago, Chile | August 2026 BCS: CENCOMALLS
Slide 2: Leading Real Estate Developer & Operator in the Andean Region
Leading Real Estate Developer & 42 Shopping Centers Operator in the Andean Region in 3 Countries ~2,400 stores 40+ years developing and operating shopping centers in Chile, Colombia Peru and Colombia — publicly listed since 2019, with 42 assets, an 05 Shopping Centers office complex and a land bank
Slide 3: 40+ years of proven track record
40+ years of proven track record Regional expansion, access to capital markets, and a platform ready for its next stage ORIGIN AND INITIAL EXPANSION 1982 1993 1999 2000 2003 Parque Brown Cenco Alto Las Condes San Juan de Lurigancho Cenco Rancagua Cenco Portal La Dehesa First shopping center, Entry i
Slide 4: Strong Financial Performance with Continued Improvement
Strong Financial Performance with Continued Improvement FINANCIALS (1) REVENUE S A D JUSTED EB ITD A NET INCOME D ISTRIB UTAB LE NET INCOME ( 2 ) USD 425 MM USD 382 MM USD 384 MM USD 277 MM +6.3% YoY 89.9% Adjusted EBITDA margin +34.8% YoY +22.3% YoY FFO AFFO P/ FFO USD 286 MM USD 253 MM 15.3x +3.4%
Slide 5: Organizational Structure & Board of Directors
Organizational Structure & Board of Directors Organizational Structure Board of Internal Audit Jaime CEO Directors Manager Soler Claudio Rojas Sebastián Bellocchio* CFO Commercial Manager Agustín Letelier* Felipe Castro* Peter Manfred Paulmann Paulmann Peru Shopping Operations Manager Manager Robert
Slide 6: GLA Diversified by Category
GLA Diversified by Category Essential Services and Retail account for ~77% of total GLA, with vacancy at just 3.0% GLA by Category (June 2026) What Each Category Includes Retail and Specialty 3.0% department stores, fashion retailers, footwear, 7.2% accessories, technology and sports, car dealership
Slide 7: Best-in-Class Portfolio, with top-tier location across the Andean Region
Best-in-Class Portfolio, with top-tier location across the Andean Region Location quality, not just scale Cenco Costanera Cenco Alto Las Condes Cenco Florida 161,298 sqm · 98.8% occupied 114,467 sqm · 99.2% occupied 126,084 sqm · 96.4% occupied CLP 96,597 MM LTM revenue CLP 56,587 MM LTM revenue CLP
Slide 8: Investment Highlights
Investment Highlights 1 Best-in-class retail platform with major presence in Chile USD 5.4 Bn Annual tenant sales in Chile 2 Customer “obsession” that drives traffic, sales and long-term value Over 97% Occupancy rate since the IPO 3 Resilient revenue structure: cash flow visibility and organic growt
Slide 9: Growth Engine: Visible and Already Under Way
Growth Engine: Visible and Already Under Way From owned land to stabilized GLA — a pipeline we control end to end +180,000 GLA +110,000 GLA +80,000 GLA +640,000 sqm D ES I GN CON S T R U CT I ON RAMP-UP 1.5 MM GLA OWN ED LA N D B A N K S T A B I LI ZED +370,000 GLA of upside potential Runway we alre
Slide 10: High stability, visibility and cash flow generation capacity: revenues and EBITDA
High stability, visibility and cash flow generation capacity: revenues and EBITDA Consistent growth with high and stable margins Revenues (CLP bn) EBITDA (CLP bn) and EBITDA Margin (%) 91% 91% 90% 90% 91% 90% 90% 424.7 353.2 377.9 83% 314.8 382.0 287.0 320.7 340.6 229.0 258.2 283.3 215.1 207.8 195.8
Slide 11: High stability, visibility and cash flow generation capacity: operational indicators
High stability, visibility and cash flow generation capacity: operational indicators Operating indicators trending up with long-term contract visibility Visitor traffic (millions) FFO evolution (CLP bn) 155.8 285.8 137.8 134.0 136.8 251.8 254.4 115.9 229.0 110.6 211.1 88.7 162.7 153.8 71.0 85.6 2019
Slide 12: Consistent value creation and strong growth capabilities
Consistent value creation and strong growth capabilities ANNU AL DIV IDE NDS PAID (CL P MM) AND DIV IDEND YIEL D (%) L TM CAS H FL OW WATE RFALL, CL P MM 7.2% 7.6% 6.7% 6.7% 4.8% 3.9% 202,994 0.6% 153,525 162,054 155,231 123,332 62,618 25,587 2020 2021 2022 2023 2024 2025 jun-26 Uninterrupted divide
Slide 13: Capital Structure
Capital Structure Comfortable Covenant and Contained Leverage Debt Debt D E B T M A T U R I T Y P R O F I L E ( U F M M ) (3) 884,461 802,148 10.0 Debt as of 2Q26 CLP MM CLP MM New Issuance Gross Financial Debt Net Financial Debt Cost Duration 1.71 10.1 % annual in UF years 6.0 Average Cost of Debt
Slide 14: Our Strategic Focus
Our Strategic Focus OUR PURPOSE We Lead the Creation of Spaces and Experiences for a Better World 01 02 03 04 Growth & Profitability Customer Obsession Innovation ESG Designing experiences that New formats, data & digital Responsible growth with a attract, retain and delight tools to enhance tenants
Slide 15: Over 110,000 sqm of GLA are already under construction
Over 110,000 sqm of GLA are already under construction PROJECT TYPE GLA ADDED ~110,000 Cenco Rancagua Brownfield ~40,000 sqm Cenco Temuco Brownfield ~16,000 sqm sqm of GLA under construction Premium Outlet Greenfield ~18,000 sqm Multifamily Florida Greenfield ~12,500 sqm Projects with works under wa
Slide 16: Investment Plan Key Progress — Chile
Investment Plan Key Progress — Chile 84% COMPLETED WORKS STARTED CENCO TEMUCO – Brownfield CENCO RANCAGUA – Brownfield The Cenco Temuco expansion continued to advance, reaching 84% Expansion works began at Cenco Rancagua, which will add ~40,000 sqm of completion as of quarter-end. It will add ~16,00
Slide 17: Investment Plan Key Progress — New Formats
Investment Plan Key Progress — New Formats C O N S T R U C T I O N S T AR T E D PE R MI T S C O MPL E T E D MULTIFAMILY FLORIDA – Greenfield PREMIUM OUTLET – Greenfield Construction began on the Multifamily project at Cenco Florida, the The Maipu Premium Outlet completed its permitting process, a mi
Slide 18: Acquisition Summary: Plaza Central
Acquisition Summary: Plaza Central ★ M&A ACQUIRED STAKE 51% Plaza Central (Bogotá) In June, Cenco Malls completed the acquisition of a 51% stake in Plaza Central, a shopping center located in Bogota, Colombia. The addition of this asset strengthens the Company’s presence in Colombia, in line with it
Slide 19: Corporate Strategy & Development
Corporate Strategy & Development Portfolio Optimization and Reconfiguration DELIVERED IN PROGRESS CENCO CO S TANE R A Strategic reconfiguration of spaces to strengthen the food hub, the tenant mix and the visitor experience “QINTO” Food Hub DELIVERED Vitacura Access Gallery DELIVERED Auto City Costa
Slide 20: Future Growth Pipeline
Future Growth Pipeline ANNOUNCED GLA Three announced projects supporting future growth and value creation. ~180,000 sqm ANNOUNCED ANNOUNCED ANNOUNCED CENCO MIRAFLORES – Greenfield CENCO LIMA – Greenfield CENCO MEDELLIN – Greenfield Greenfield project announced for the Miraflores Announced mixed-use
Slide 21: Costanera Office Complex
Costanera Office Complex A premier office hub with upside still to capture Our office complex at Cenco Costanera continues to consolidate its position as a leading office hub, attracting top-tier tenants. With only the final GLA tranche pending fit-out, the complex is nearing full placement and furt
Slide 22: Our Strategic Focus
Our Strategic Focus OUR PURPOSE We Lead the Creation of Spaces and Experiences for a Better World 01 02 03 04 Growth & Profitability Customer Obsession Innovation ESG Disciplined expansion, asset New formats, data & digital Responsible growth with a transformation and tools to enhance tenants and fo
Slide 23: Tenant Entry Strategy
Tenant Entry Strategy Top-of-Mind Anchor Stores and International Brands TENA NT M I X STRATEGIC POSITIONING Cenco Malls as the preferred gateway for global brands in South America GA TEWA Y I N CHI LE FLA GS HI PS I N CHI LE WOR LD - CLA S S B R A ND S R ELA T ED S T OR ES | First stop for global L
Slide 24: ONE UNIFIED BRAND Across the Region: 42 Shopping Centers
ONE UNIFIED BRAND Across the Region: 42 Shopping Centers under the brand |
Slide 25: Regional brand and customer experience
Regional brand and customer experience LOLLAPALOOZA 2026 ONE REGIONAL BRAND BRAND AWARENESS 33 → 1 45% local brands unified under Cenco Malls recognize Cenco Malls (May 2026) Launched at Lollapalooza 2024 | vs 20% in May 2024 | Cadem tracking 4 countries | APP & LOYALTY QINTO CENCO COSTANERA 26,102
Slide 26: Our Strategic Focus
Our Strategic Focus OUR PURPOSE We Lead the Creation of Spaces and Experiences for a Better World 01 02 03 04 Growth & Profitability Customer Obsession Innovation ESG Disciplined expansion, asset Designing experiences that Responsible growth with a transformation and attract, retain and delight focu
Slide 27: Innovation: Strategic Focus
Innovation: Strategic Focus Driving better experiences and operational excellence through data, technology and customer-centricity. Customer data, insights & loyalty Enhancing the customer experience › Cenco Malls app › Regional Wayfinding system › Cencosud loyalty program integration › Self-service
Slide 28: Our Strategic Focus
Our Strategic Focus OUR PURPOSE We Lead the Creation of Spaces and Experiences for a Better World 01 02 03 04 Growth & Profitability Customer Obsession Innovation ESG Disciplined expansion, asset Designing experiences that New formats, data & digital transformation and attract, retain and delight to
Slide 29: ESG Integrated into Long-Term Value Creation
ESG Integrated into Long-Term Value Creation Cenco Malls integrates ESG criteria across its operations, investments and asset management, combining profitable growth, operational resilience and positive impact across the Andean Region. GOVERNANCE PLANET S&P Global Sustainability Yearbook 2026 94% of
Slide 30: Disclaimer
DISCLAIMER Important Notice The information contained in this presentation has Cenco Malls and its subsidiaries, directors, and been prepared by Cencosud Shopping S.A. ("Cenco employees accept no responsibility for any loss or Malls") for informational purposes only. It should not damage that may ar
Slide 31: Presentación Corporativa
Presentación Corporativa
Cencosud Shopping S.A. (Cenco Malls) — Investor Presentation (August 2026) on 6ix