Alsea, S.a.b. De C.v. · BMV:ALSEA
Alsea, S.a.b. De C.v — Investor Day (March 2026)
71 slides from Alsea, S.a.b. De C.v's investor day presentation, Mar 18, 2026
Slide 1: Slide 1
Slide 2: Overview & Strategy, Brands, People, Financial Overview
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks Enter the event token & select "Connect" TOKEN: Alseaday2026
Slide 3: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS We do not undertake to update or revise any forward-looking Certain information contained in this presentation, particularly statements after they are made, whether as a result of new information regarding future economic performance, finances, information, future events,
Slide 4: Today's Agenda
Today’s 09:00 - 11:00 Agenda • Alsea's Overview & Strategy | Christian Gurría • Domino's Pizza | Cosme Torrado • Starbucks | Francisco Tosso • Full-Service Segment | Jaime Vásquez and Paco Páez • New Brands | Pablo De Brito • People, Organization & Care | Cory Guajardo • Financial Overview & Outlook
Slide 5: a —
a —
Slide 6: Alsea's Overview & Strategy
Christian Gurría Chief Executive Officer Alsea's Overview & Strategy
Slide 7: Cosme Torrado Alsea Domino’s Pizza 15 years
Cosme Torrado Alsea Domino’s Pizza 15 years Cory Guajardo CHRO 12 years Jaime Vásquez Full-Service Restaurants Mexico 25 years Christian Gurría CEO 26 years Federico Rodríguez CFO 19 years Francisco Tosso Alsea Starbucks 7 years Paco Páez Full-Service Restaurants Spain Pablo De Brito 26 years New Br
Slide 8: Where We Stand
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks WHERE WE STAND Consistent Deliver and Growth Mexico South America Europe Revenue by Region Europe 31% South America 16% $84.1 B 4,820 12 13 3 460 Mexico 53% Units Countries Brands S
Slide 9: Where We Are Going: Care, Build, Growth, Capitalize
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks RATIONALE, ORGANIC, PROFITABLE GROWTH Where We Are Going Care Build Growth Capitalize TALENT | CULTURE | INNOVATION
Slide 10: Caring for Our People, Our Customers, and Our Resources
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks CARING FOR OUR PEOPLE, OUR CUSTOMERS, AND OUR RESOURCES Where We Are Going CARE People - Customers - Care Growth Resources • High-impact operational TALENT TALENT talent CULTURE CUL
Slide 11: Right Brands. Right Locations. Right Markets.
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks RIGHT BRANDS. RIGHT LOCATIONS. RIGHT MARKETS. Where We Are Going BUILD Care Growth Portfolio Optimization (Brand Leadership) • Developing the Right Brands TALENT • Participating in
Slide 12: Market holding capacity and expansion potential
Overview Overview&&Strategy Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks STRONG MARKET HOLDING CAPACITY AND EXPANSION POTENTIAL, ALIGNED WITH OUR DISCIPLINED ORGANIC GROWTH STRATEGY 25% 17% 11% +47% +3,400 units Alsea white space Mexico
Slide 13: Driving Higher Traffic Across Our Existing Store Base
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks DRIVING HIGHER TRAFFIC ACROSS OUR EXISTING STORE BASE +4,800 Where We Are Going GROWTH Care Growth Accelerate Same-Store Sales TALENT • Store Remodeling CULTURE • INNOVATION (Produc
Slide 14: Maximizing Returns on Our Existing Asset Base
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks MAXIMIZING RETURNS ON OUR EXISTING ASSET BASE Where We Are Going CAPITALIZE Care Growth Expand Margins & Earnings • Same Store Sale Growth TALENT • Maximizing Capacity CULTURE Utili
Slide 15: Clear Roadmap for Alsea's Next Growth Phase
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks CLEAR ROADMAP FOR ALSEA’S NEXT GROWTH PHASE Focused Disciplined Expansion Evolving Toward a Growth Strategy Focused onOperational Generating Value Excellence for All Stakeholders Su
Slide 16: Alsea Domino's Pizza
Cosme Torrado Alsea Domino's Pizza
Slide 17: Third Largest Domino's Operator Worldwide
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks THIRD LARGEST DOMINO’S OPERATOR WORLDWIDE Where We Stand Store Format Express Delivery 10% 90% Mexico South America Europe Sales by Channel Delivery 56% Carryout/Dine-in 44% 1,549 U
Slide 18: Leading the Race - One Delivery at a Time
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks LEADING THE RACE - ONE DELIVERY AT A TIME Winning the Moment Diversified Scalable Distinctive Product Sales Mix Digital Ecosystem Portfolio Million Active • In-Store 3.8 Digital Use
Slide 19: The Future of Pizza Is Here
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks THE FUTURE OF PIZZA IS HERE Where We Are Going Long-Term Growth & Expansion Objective Performance Opportunity • Reach 2,000 stores • Sustainable CAGR of • ~25% white space by 2030 ~
Slide 20: Every Slice Counts
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks EVERY SLICE COUNTS Creating What’s Next Cutting-Edge Digital Store Operations Systems (DSS) Infrastructure Integration TECHNOLOGY - ENABLED EFFICIENCY PLATFORM GPS-Enabled Real-Time
Slide 21: The Efficiency of a Perfect Operation
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks THE EFFICIENCY OF A PERFECT OPERATION Delivering Value with Purpose Domino’s Cloud: An Enterprise-Grade Platform U.S.-proven, reliable infrastructure enabling seamless growth Intuit
Slide 22: Speed That Serves, Technology That Connects
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks SPEED THAT SERVES, TECHNOLOGY THAT CONNECTS Protecting Our Essence People & Talent: Driving Operational Excellence Turnover Rate Training & Competitive Leadership Development Compen
Slide 23: Our Path to Growth and Profitability
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks OUR PATH TO GROWTH AND PROFITABILITY Three Key Takeaways More More More Stores Sales Profit
Slide 24: Alsea Starbucks
Francisco Tosso Alsea Starbucks
Slide 25: Global Scale
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks GLOBAL SCALE Leadership Position Within Starbucks Starbucks Alsea Starbucks in the World #1 90 #2 12 Coffeehouse Current Starbucks Current Company in the Global Operator in the Glob
Slide 26: Regional Business Structure
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks REGIONAL BUSINESS STRUCTURE Balanced Portfolio With Significant Runway For Expansion Mexico Europe South America 935 625 336 Corporate 401 Stores Stores Stores 289 Franchises 44% 47
Slide 27: 23 Years of Sustained and Disciplined Value Creation
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks 23 YEARS OF SUSTAINED AND DISCIPLINED VALUE CREATION Proven Track Record Revenue Growth 23% 23% 23% 25% 23.4% 15% 16% 16% 23% 18% ‘02-’26 CAGR 23% 21% 27% 62% 19% 61% 22% 60% 34% 25
Slide 28: Alsea Starbucks Strategy: Four Pillars
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks ALSEA STARBUCKS STRATEGY Four Pillars Driving Sustainable Growth & Profitability Partner Customer Growth Profitability Become the best Be the most trusted and Drive the strongest gr
Slide 29: Clear EBITDA Acceleration Through Strong Execution
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks CLEAR EBITDA ACCELERATION THROUGH STRONG EXECUTION Strategic Plan Partner Customer Growth Profitability • Operational Simplicity • In-Store Experience • Revenue Growth • Control & P
Slide 30: Innovation as a Competitive Advantage
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks INNOVATION AS A COMPETITIVE ADVANTAGE Strengthening Our Strategy and Long-Term Growth Distinctive Product The Third Place Technology & Data Digital Experience Portfolio Stores Bever
Slide 31: A Clear Path to Long-Term Value Creation
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks Disciplined Growth Accelerating EBITDA Sustainable Value Creation A CLEAR PATH TO LONG-TERM VALUE CREATION
Slide 32: Full-Service Restaurants (FSR) Mexico
Jaime Vásquez Full-Service Restaurants (FSR) Mexico
Slide 33: A $67B Market with Strong Growth Opportunity
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks A $67B MARKET WITH STRONG GROWTH OPPORTUNITY FULL-SERVICE RESTAURANTS Average Ticket Breakdown Foodservice Industry Fine Dining + $50 usd Casual Dining $67B $15 – $30 usd 40% FSR Fa
Slide 34: Alsea Is the Largest Full-Service Restaurant Operator in Mexico
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks ALSEA IS THE LARGEST FULL-SERVICE RESTAURANT OPERATOR IN MEXICO Where We Stand American Food Italian Food Asian Food Family Dining 75 11 76 28 234 +50 Cities 50 million clients 376
Slide 35: Strong Brands with Expansion Runway
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks STRONG BRANDS WITH EXPANSION RUNWAY 4 Key Categories American Food Italian Food Asian Food Family Dining Others Others Others 93% 86% 53% Others 79% Chili’s 13% Italianni’s P.F. Cha
Slide 36: A Disciplined Strategy to Drive Growth
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks A DISCIPLINED STRATEGY TO DRIVE GROWTH We Have a Solid and Diversified Portfolio Growth Strategy Portfolio Diversification 23% Driving Traffic & SSS 16% 46% 8% Operational Agility 7
Slide 37: Capital-Efficient Growth
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks CAPITAL-EFFICIENT GROWTH Via Remodeling And Franchises 45 15%-20% Remodeled Sales 48 +20% Restaurants per Growth from Franchise Model 4W EBITDA year Remodeling
Slide 38: Growing Faster Than the Industry
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks GROWING FASTER THAN THE INDSUTRY Capitalize on the Industry Momentum +2 p.p. 9.0% 7.0% Market Share Champions Industry FSR Growth Growth
Slide 39: Our People Are Our Competitive Advantage
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks OUR PEOPLE ARE OUR COMPETITIVE ADVANTAGE Savoring Excellence: Passion for Detail in Every Restaurant Turnover 56% ~2.5x Competitive Manager Salary vs. Industry 71.8 51% eNPS 48% 202
Slide 40: Four Building Blocks of Our Strategy
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks FOUR BUILDING BLOCKS OF OUR STRATEGY Customer Centric Growth Driven by Decisions New Guests Operational Our People Excellence
Slide 41: Clear Path to Growth
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks CLEAR PATH TO GROWTH Via Remodeling And Franchises Strong Brands National Scale Disciplined Strategy for Growth
Slide 42: Full-Service Restaurants (FSR) Spain
Paco Páez Full-Service Restaurants (FSR) Spain
Slide 43: A Large and Growing FSR Opportunity in Spain
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks A LARGE AND GROWING FSR OPPORTUNITY IN SPAIN • Spain - 4th largest global foodservice market • Organized industry - 33% market share2 • Organized industry - growing 73% vs 4% indepe
Slide 44: Best-in-Class Portfolio of Leading Proprietary Brands
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks BEST-IN-CLASS PORTFOLIO OF LEADING PROPRIETARY BRANDS The Power of Alsea FSR Modern all-day Fun American Creative Italian eatery all-day restaurant restaurant 488 169 205 118 Units
Slide 45: Leading Brands with a Clear Path for Growth
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks LEADING BRANDS WITH A CLEAR PATH FOR GROWTH FSR Casual Dinning FSR American & Hamburgers FSR Italian Others Others Others 80% 87% 65% VIPS 20% Ginos Foster’s 13% 35% #1 #1 #2 Next 5
Slide 46: Unlocking Growth Through Four Strategic Pillars
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview UNLOCKING GROWTH THROUGH FOUR STRATEGIC PILLARS Growth Capitalize Driven by new consumer Maximizing footprint returns acquisition SSO EBITDA Growth Build Care Build momentum by digital & People. Cu
Slide 47: Accelerating Growth Through Customer and Digital Expansion
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks ACCELERATING GROWTH THROUGH CUSTOMER AND DIGITAL EXPANSION Growth driven by new customer acquisition • Consumer understanding and R&D • Product Innovation – 15% sales • Communicatio
Slide 48: Maximizing Returns Through Disciplined Expansion and Operational Excellence
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks MAXIMIZING RETURNS THROUGH DISCIPLINED EXPANSION AND OPERATIONAL EXCELLENCE Capitalize footprint to maximize returns • Right openings & Remodeling strategy (+7%) • Franchises accele
Slide 49: Spain: A Growing Market Opportunity
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks Spain: a growing market opportunity Leading brands with a balanced portfolio A clear and disciplined growth strategy “The Power of Alsea Full-Service Restaurants”
Slide 50: Pablo de Brito, New Brands
Dy Pablo de Brito New Brands ® € CHIPOTLE Ges
Slide 51: Right Brands and Right Geographies
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks RIGHT BRANDS AND RIGHT GEOGRAPHIES New Growing Segments Leveraging Alsea Scale to Launch Two Globally Recognized Brands HEALTHY FAST CHICKEN CASUAL (HFC) QSR Healthy Fast Casual wit
Slide 52: Bringing a Globally Iconic Brand into an Untapped Category
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks BRINGING A GLOBALLY ICONIC BRAND INTO AN UNTAPPED CATEGORY Chipotle Scale & Brand Leadership Limited Regional Competitors. Chipotle: $11.9B revenue, 4,000 stores, strong Mexican ABC
Slide 53: Entering the Largest QSR Protein Category with a Premium Brand
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks ENTERING THE LARGEST QSR PROTEIN CATEGORY WITH A PREMIUM BRAND Raising Cane’s Massive Chicken Market Opportunity Mexico ranks #5 globally in chicken consumption (36kg per capita; 48
Slide 54: Why Alsea Is Uniquely Positioned to Win
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks WHY ALSEA IN UNIQUELY POSITIONED TO WIN Launch in Monterrey 2026, Mexico City 2027 & National Roll Out 2028 White Space Strong Brands Alsea Scale • Large & Scalable Opportunity • Pr
Slide 55: People, Organization & Care
Cory Guajardo Human Resources People, Organization & Care
Slide 56: People Strategy Aligned with Alsea's Strategy
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks PEOPLE STRATEGY ALIGNED WITH ALSEA'S STRATEGY Developing Talent To Drive Business Growth GROWTH High-Impact Operators caring for our people, our customers, and our business BUILD Ke
Slide 57: Delivering a Leading People Experience for +75K Team Members
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks DELIVERING A LEADING PEOPLE EXPERIENCE FOR +75K TEAM MEMBERS An Effective Workforce Model At Scale, Leveraging Predictive Analytics To Improve People Decisions Continuous Reduction
Slide 58: High-Impact Frontline Leadership Is a Key Differentiator
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks HIGH-IMPACT FRONTLINE LEADERSHIP IS A KEY DIFFERENTIATOR +4,000 Operators At The Core Of Execution Excellence High-Impact Operators Across the Organization 3,567 80 65% Store Manage
Slide 59: Sustaining Profitability Under Labor Cost Pressure
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks SUSTAINING PROFITABILITY UNDER LABOR COST PRESSURE Consistent Growth In TPLH; G&A Reduction From 6.3% To 5.4% In The Last 6 Years Consolidation of business Flexible labor models and
Slide 60: Building Results from the Bottom Up
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks BUILDING RESULTS FROM THE BOTTOM UP Performance And Incentives Aligned With Financial Outcomes And Shareholder Value Long Term Short Term Performance / Performance / Incentives Ince
Slide 61: Financial Overview & Outlook
Federico Rodriguez Chief Financial and Administrative Officer Financial Overview & Outlook
Slide 62: Evolving Our Essence
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks EVOLVING OUR ESSENCE ENSURING TRUST THROUGH CONSISTENCY AND TRANSPARENCY Capital Deployment Strong Shareholder Returns Excess Capital Priorities • Disciplined organic growth • Reinv
Slide 63: Guidance 2026
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks WINNING THE MOMENT FUELING THE MOMENTUM FOR LONG-TERM EXPANSION Store Openings CAPEX Revenue Growth 180 - 220 ~$5.5B GUIDANCE 2026 Openings 5% - 7% SSS 130 - 150 Corporate ~60 Franc
Slide 64: Delivering Value with Purpose
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks DELIVERING VALUE WITH PURPOSE A STRONGER BALANCE SHEET WITH LOWER REFINANCING RISK AND ENHANCED FINANCIAL FLEXIBILITY 91% Long-Term 32% EUR 9% 68% • Improved maturity profile with S
Slide 65: Cash Flow Evolution
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks CASH FLOW EVOLUTION DELIVERING ON OUR PROMISES 5.1% FCF/Market Cap 18.3% Cash Conversion EBITDA CAPEX Debt Service Taxes Working Capital Free Cash Flow Growing free cash flow expand
Slide 66: Stronger Cash Flows, Stronger Returns
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks Stronger Cash Flows, Stronger Returns A Discipline Growth Is Reflected In A More Predictable Value The Cash Driven Momentum Fuels Alsea To The Next Chapter
Slide 67: Closing Remarks
Christian Gurría Chief Executive Officer Closing Remarks
Slide 68: Why Invest?
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks WHY INVEST? Trusted operator with a proven track record of delivering value to global brands, clients, franchisees and collaborators Effectively managing a resilient and adaptable p
Slide 69: Armando Torrado, Chairman
Armando Torrado Chairman
Slide 70: Board Governance Priorities
Overview & Strategy Domino's Pizza Starbucks FSR Mexico FSR Spain New Brands People Financial Overview Closing Remarks BOARD GOVERNANCE PRIORITIES Protect and Strengthen Our Brands Deliver Sustainable Long-Term Results Maintain Strong Corporate Governance Ensure an Experienced and Effective Board
Slide 71: Slide 71