Grupo Alfa (ALFAA) investor relations material

Executive summary

• Completed first full quarter as a streamlined, pure-play branded food company after significant transformation and the Alpek spin-off, with a smooth transition to steady-state operations.

• Advanced rebranding initiative, including a proposal to adopt a Sigma-related entity name.

• Board approved a $35M dividend in Q3, bringing YTD dividends to $119M.

• Achieved all-time high quarterly revenues in Mexico, driven by selective price actions and resilient retail volume.

• EBITDA for 3Q25 was $255M, down 9% year-over-year due to raw material cost pressures, but showed sequential improvement.

Financial highlights

• 3Q25 revenues reached a record $2.42B, up 8% year-over-year and 5% sequentially, driven by higher average prices and stable volume.

• Comparable EBITDA for Q3 was down 9–11% year-over-year due to raw material cost pressures and a high prior-year base, but up 2–3% sequentially (adjusted for property damage reimbursements).

• Year-to-date comparable EBITDA reached $722M, tracking in line with full-year guidance.

• Net income for 3Q25 was $75M, down from $242M in 3Q24, mainly due to normalized taxes and absence of prior year non-recurring gains.

• Net debt at quarter-end was $2.71B, with a net leverage ratio of 2.6–2.7x.

Outlook and guidance

• Sequential EBITDA improvement is expected to continue, supported by revenue management, cost mitigation, and favorable FX conversion.

• Guidance reaffirmed, with key drivers including insurance reimbursements, improved European operations, and stable U.S. performance.

• Anticipate easing raw material costs, especially turkey, in 2026, supporting margin recovery.

• New product launches and innovation initiatives planned, including the GRILL HOUSE launch in the U.S. in 4Q25.