Fomento Económico Mexicano (FEMSAUBD) investor relations material

Executive summary

• Q3 revenue and operating income grew 9.8% and 9.9%, respectively; OXXO México and Coca-Cola FEMSA led, with progress at Bara and OXXO Latam.

• OXXO México traffic improved to its strongest performance in more than two years, supporting market-share gains despite margin pressure.

Financial highlights

• Revenue was Ps. 235,609 million, up 9.8% reported and 9.4% comparable; gross profit rose 9.7%, with gross margin at 39.9%.

• Operating income reached Ps. 19,918 million, up 9.9% reported and 13.4% comparable; operating margin was 8.5%, up 10 bps.

• Adjusted EBITDA rose 12.9% to Ps. 34,833 million; consolidated net income increased 81.0% to Ps. 10,569 million.

• Net income growth reflected operating gains, the absence of the prior-year Solistica discontinued-operations loss and a favorable Ps. 2,382 million FX swing; higher interest expense and taxes partly offset these effects.

• 9M revenue rose 8.7% to Ps. 674,623 million; operating income increased 7.9%, Adjusted EBITDA 12.6% and net income 84.0%.

Outlook and guidance

• Management cited soft Mexican consumer conditions, recent Brazil volatility and tougher comparison bases in coming quarters.

• OXXO México remains committed to ~1,000 net new stores annually over the long term, while 2026 net additions are expected below that pace following store pruning and delayed expansion.

• Expansion plans include ~70 net new OXXO Brasil stores next year, double-digit Colombia growth, Bara growth above 30%, and OXXO México net store growth of ~4%.

• Bara expects to open more stores next year than this year and exceed its store-a-day ambition; management expects to detail 2027 plans and capital allocation on the next call.