Allos (ALOS3) investor relations material

Executive summary

• Sales reached R$9.3 billion in 1Q26, up 6.6% year-over-year, with same-store sales up 5.0% and strong growth in food (+7.9%) and services/leisure (+6.0%) segments.

• Net revenue increased 10.9% to R$683.3 million, driven by real estate development and media, with EBITDA up 11.8% (17.0% ex-Tijuca) and margin at 72.2%.

• Operational efficiency initiatives led to a 13.2% reduction in SG&A expenses.

• FFO reached R$298.8 million (+9.7% YoY; +18.2% ex-Tijuca), and NOI was R$553.3 million (+5.1% YoY).

• Strategic partnership with Kinea established a REIT, enhancing capital allocation and recurring revenue streams.

Financial highlights

• Same-store sales grew 5.0% year-over-year, with food segment leading at 7.9%.

• Media revenue increased 57.3% to R$56.2 million, now 7.6% of gross revenue.

• Digital platform GMV surged 74.6% to R$1,213.2 million, with 2.3 million members.

• Real estate revenue for the quarter was R$24 million.

• FFO per share rose 10.0% to R$0.60.

Outlook and guidance

• April and early Q2 sales trends remain consistent with Q1, with positive expectations for upcoming periods.

• Real estate revenue expected to be recurring, with new projects ramping up over the next years.

• Efficiency and simplification programs expected to yield further cost reductions throughout 2026.

• Advanced construction and high sales rates in mixed-use projects signal continued growth.

• Reopening of Shopping Tijuca stores and new rooftop expansion expected to positively impact results from Q2 onward.