El Puerto de Liverpool (LIVEPOLC) investor relations material

Executive summary

• Second quarter 2026 saw soft consumer demand, increased competition, and spending concentrated around key promotional events, with the FIFA World Cup temporarily impacting spending patterns, especially in apparel.

• Leading unified commerce retailer in Mexico with integrated digital and physical channels, financial services, and real estate operations.

• All three business segments—Retail, Financial Services, and Real Estate—contributed to consolidated revenue growth, with Financial Services and Real Estate delivering the strongest performance.

• Operational challenges from the new logistics facility were resolved, and the migration to a new e-commerce platform was completed, though it temporarily weighed on digital GMV growth.

• Recent expansion includes the Nordstrom 49.9% acquisition agreement, enhancing international exposure and collaboration opportunities.

Financial highlights

• Consolidated revenue reached $229,137 million pesos in 2026, up 1.5% year-over-year; 2Q26 revenue was $57.3 billion pesos.

• Financial Services revenue grew 9.9%, Real Estate 8.6%, and Retail 0.4% year-over-year.

• Consolidated net income increased 55.4% year-over-year to $5.1 billion pesos.

• EBITDA was $8.5 billion pesos, down 1.2% year-over-year; EBITDA margin contracted 41 bps to 14.9%.

• Gross margin expanded by 188 bps to 41.9% year-over-year; retail gross margin reached 32.4%.

Outlook and guidance

• Full-year 2026 guidance: Liverpool same-store sales 2.5%-3.5%, Suburbia -1% to +1%, digital GMV growth 10%-12%, net loan portfolio growth 6%-8%, EBITDA margin 14.5%-15.5%.

• Expectation of more favorable year-over-year comparisons in the second half, but macro uncertainty and soft demand persist.

• NPLs forecasted at 4.2%-4.7%; NPLs provision growth of 20%-25%.

• CAPEX planned at $8–$9 billion pesos for 2026.

• S&P and Fitch affirmed investment-grade ratings with stable outlooks.