Allos (ALOS3) investor relations material

Executive summary

• 3Q26 net revenue excluding straight-line rent adjustments rose 18.2% to R$776.5m; adjusted EBITDA increased 20.9% to R$580.1m and FFO rose 28.5% to R$384.5m.

• Mall sales reached R$10.0bn, up 3.8% YoY; total-portfolio same-store sales grew 2.5%.

• Media and real estate development supported revenue growth; SG&A declined 5.7% YoY.

Financial highlights

• Adjusted EBITDA margin was 74.7%, up 164 bps YoY; FFO margin was 49.5%, up 353 bps.

• Net operating income was R$627.3m, up 4.1% reported and 5.1% pro forma; NOI margin was 92.0%, down 162 bps.

• Net income attributable to controlling shareholders reached R$291.3m, up 131.4%; consolidated net income was R$325.7m, with 9M net income of R$918.5m.

• Consolidated financial-statement revenue was R$731.1m in Q3 and R$2,115.8m in 9M26; 9M operating cash flow was R$1,343.4m.

• FFO growth excluding Shopping Tijuca was 31.2%; adjusted EBITDA growth excluding Tijuca was 22.0%.

Segment performance

• Rental revenue was R$497.3m, up 2.7% YoY or 4.0% excluding Tijuca; overage rent rose 26.4% to R$35.6m.

• Parking revenue increased 12.1% to R$140.4m; service revenue rose 31.4% to R$113.1m, mainly reflecting media operations.

• Media revenue rose 44.7% to R$82.4m, ~10% of gross revenue; helloo operated in 12 airports and generated 66m weekly impacts.

• Digital platforms reached 17.6m sessions, up 9%, and identified GMV of R$1.45bn, up 19%; coverage spanned 39 malls in 24 cities.

• Development revenue was R$50.5m; Beach Class Bahia launched with 612 units and estimated GSV of R$350m. A Parque Dom Pedro office tower with Tymber had estimated GSV of R$140m.