Cencosud Strengthens its Position in the United States by Acquiring 100% of The Fresh Market 

Santiago, Chile, August 29, 2025 – Cencosud (Santiago Stock Exchange: CENCOSUD), a leading retailer with operations in Argentina, Brazil, Chile, the United States, Colombia, and Peru, is pleased to announce that it has reached an agreement with AP VIII Pomegranate Holdings, L.P. (“Apollo”) to acquire the remaining 33% of shares of The Fresh Market Holdings, Inc. (“TFM”) that it did not already own. With this acquisition, Cencosud will control 100% of TFM’s shares, thereby consolidating its position in the U.S. market.

The purchase price for this transaction is US$295 million, which was agreed upon directly between the parties, reflecting the strong relationship between partners and the management capabilities of Cencosud’s team.

“We are very pleased to have reached this agreement, which marks an important milestone in our strategy to strengthen Cencosud’s presence in the U.S. market”.

Said Rodrigo Larrain, CEO of Cencosud.

“Now, with 100% ownership of The Fresh Market, we will be able to accelerate the full integration of this chain into our operations, enhance synergies, and continue generating sustainable long-term value. The supermarket business in the United States has shown positive performance and is moving toward a new stage of growth that excites us deeply.”

The closing of the transaction is subject to the fulfillment of certain customary terms and conditions for this type of deal, including the signing of the purchase agreements by all TFM shareholders. Cencosud will promptly inform the market about the fulfillment of these conditions precedent and the completion of the transaction.

The Fresh Market, headquartered in North Carolina, currently operates 172 stores in the United States and has been recognized as “America’s Best Supermarket” by USA Today for four consecutive years.