Cencosud Reports First Quarter Results, with Significant Progress in Consolidating Its Retail Ecosystem

• The Company posted revenues of CLP 4,041,009 million (USD 4.565 billion) in the first quarter of 2026, representing a 0.2% year-over-year increase, mainly explained by foreign exchange effects that resulted in lower revenues in Chilean pesos from the Argentine operation.

• Against a regional backdrop marked by global uncertainty and a demanding comparison base, the Company continued advancing its transformation plan, aimed at strengthening its value proposition, improving operational efficiency, and building solid foundations for future growth.

• The online channel continued consolidating its position as a key business pillar, with double-digit growth in Peru and Colombia and a 15.6% penetration rate in Chile, mainly driven by the strengthening of the Prime loyalty program.

Santiago, May 7, 2026 – Cencosud S.A. reported its financial results for the first quarter of 2026, during a period marked by heightened international uncertainty and competitive pressure. In this context, the Company maintained resilient performance across its core operations and continued executing its transformation plan, focused on strengthening its business model and laying solid foundations for long-term growth.

In terms of consolidated revenues, the Company reported a 0.2% year-over-year increase in the first quarter of 2026, reaching CLP 4,041,009 million (USD 4.565 billion). Excluding accounting adjustments associated with hyperinflation and foreign exchange effects in Argentina, consolidated revenues reached CLP 3,956,983 million (USD 4.470 billion), representing a 4.4% decrease versus the first quarter of the previous year.

Net income for the period totaled CLP 102,144 million (USD 115 million), representing a 19.2% decrease compared to the first quarter of 2025, mainly explained by foreign exchange variations and higher deferred taxes associated with Argentina’s hyperinflation adjustment.

Adjusted EBITDA reached CLP 333,388 million (USD 377 million), a decrease of 11.4% versus the first quarter of 2025, with an Adjusted EBITDA margin of 8.3%. This variation was primarily driven by foreign exchange effects, lower sales in Department Stores and Home Improvement operations in Chile and Argentina, together with higher risk provisions in Argentina. Adjusted EBITDA excluding Argentina accounting adjustments reached CLP 343,959 million (USD 389 million), representing a 12.4% year-over-year decrease, with an Adjusted EBITDA margin of 8.7%.

During the first quarter of 2026, Cencosud continued advancing the implementation of its transformation plan, achieving meaningful progress in portfolio optimization, strengthening operational capabilities, and developing an increasingly integrated ecosystem.

“We are managing short-term challenges with discipline while building the capabilities that will define Cencosud’s future. While we recognize that these changes may have short-term impacts, these initiatives form the foundation of our growth strategy, enabling a more integrated, scalable, and customer-centric ecosystem, with increasingly personalized, synergistic, innovative, and agile value propositions across the region. Together with our robust investment plan focused on growth and technological capabilities, we remain fully confident in the future evolution of our businesses”

said Rodrigo Larraín, CEO of Cencosud.

Quarterly Highlights

1. Revenue performance driven by supermarkets, with growth in Peru and Colombia, resilient performance in Chile and the United States, and above-inflation expansion in Argentina, supported by the integration of Makro, amid a context marked by global uncertainty and remodeling projects in stores and shopping centers across the region.
2. Strong Adjusted EBITDA performance in Peru, with 12.7% growth and margin expansion to 12.6%, alongside improvements in Colombia and Brazil, reflecting progress in the transformation strategy and value proposition.
3. Consolidation of the online channel as a growth driver, with double-digit sales growth in Peru and Colombia and a 15.6% penetration rate in Chile, supported by loyalty programs, including the launches of Wong Prime in Peru and TFM Rewards in the United States.
4. The Company continued advancing its growth strategy with the opening of four The Fresh Market stores in the United States, including two in Miami, Florida, further strengthening its presence in the state to more than 50 stores.
5. Progress in growth and portfolio optimization, with the agreement to acquire a 51% stake in Plaza Central in Bogotá, marking the first M&A transaction for Cenco Malls.
6. Continued transformation of the operating model, including a simplified corporate structure and the strengthening of the executive team, with the appointment of a new Country Manager in Argentina and a new Chief Strategy & Transformation Officer.
7. Strengthening of the financial structure through successful bond issuances in April totaling UF 12.5 million in Chile and USD 500 million in the United States, aimed at refinancing the 2027 bond, including a tender offer that reached approximately 66% of the outstanding amount.