Allos (ALOS3) investor relations material

Executive summary

• Sales grew 6.6% year-over-year in Q1 2026, with same-store sales up 5% and strong performance in food (+7.9%) and services/leisure (+6.0%) segments.

• Net revenue increased 10.9% to R$683.3 million, driven by real estate, media, and digital initiatives, 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 and improved margins.

• Strategic focus on portfolio optimization, capital reallocation, and partnerships, including a REIT with Kinea, to drive long-term value and recurring revenue.

• Interim financials for Q1 2026 reviewed with no material modifications required under Brazilian and international standards.

Financial highlights

• Gross/net revenue reached R$683.3 million (+10.9% YoY; +12.8% ex-Tijuca); EBITDA was R$493.1 million (+11.8% YoY; +17.0% ex-Tijuca), margin 72.2%.

• FFO was R$298.8 million (+9.7% YoY; +18.2% ex-Tijuca), margin 43.7%; NOI at R$553.3 million (+5.1% YoY).

• Media revenue grew 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.

• Net income attributable to stockholders was R$248.3 million.

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

Outlook and guidance

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

• Recurrent real estate revenue expected to increase as new projects are approved and developed.

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

• No impairment indicators identified for investment properties or intangibles.

• Anticipates positive impact from reopening and expansion at Shopping Tijuca.